2018 marks a record financial year for APICORP  Total assets grew by 11% Dubai, UAE, April 17, 2019:   The Arab Petroleum Investments Corporation (APICORP), a multilateral development financial institution, held its 43rd General Assembly for 2019 in Muscat, Oman.  The meetings were attended by the shareholders of APICORP representing its member states, the ten Arab oil exporting countries.    The net profit for the Corporation in 2018 increased to USD 182.3 million, a 76 percent year-over-year increase and is the highest in APICORP’s history. This was driven by returns from a capital gain of USD 86.7 million on the sale of APICORP’s equity stake in National Petroleum Services (NPS) as well as remarkable growth achievements of net interest income and dividend income at 67 ......read more

As per the contract’s delivery deadline 17 April 2019:   The UAE-based, Grandweld Shipyards, has recently announced a delivery of four Crew Boats to Kuwait Oil Company “KOC”. As per the contractual agreement signed in May 2017, Grandweld should build six Pilot Boats and four Crew Boats for KOC. Five boats have been delivered and the remaining five will be delivered in June 2019. Furthermore, the newly constructed four boats were specially designed to meet the requirements of KOC, in accordance with Lloyd's Register’s classification rules in order to provide the highest operational efficiency and safety, and have been delivered promptly without delay. Commenting on this development, Jamal Abki, General Manager of Grandweld Shipyards clarified, “Our long years of experience in the ......read more

Schneider Electric to serve as one of BP’s Main Electrical Contractors  Intention to drive value, innovation and safety for BP’s upstream projects EcoStruxture architecture to improve lifecycleTotEx spend from design to commissioning to operations Dubai, UAE, April 16, 2019:  BP, a global energy producer, has selected Schneider Electric, a leader in the digital transformation of energy management and automation, as one of its main electrical contractors (MEC) in a five-year global framework agreement.    Under the terms of the agreement, Schneider Electric will provide full-scope design and engineering services, including optimization, project management and integration, procurement and supply chain management, and full support from commissioning through to operations after start-up for ......read more

Not for Direct or Indirect Release, Publication or Distribution, in Whole or in Part, Into or in the United States, Canada, Australia, New Zealand, South Africa, Japan, the Kingdom of Saudi Arabia or the United Arab Emirates or Any Other Jurisdiction in Which Offers or Sales Would Be Prohibited by Applicable Law. Please See the Important Notice at the End of This Announcement. Dubai, UAE, April 15, 2019: Buyback Offer RAK Petroleum plc, the Oslo-listed oil and gas investment company (the “Company”), announces its intent to repurchase such number of its class A shares with ISIN GB00BRGBL804 (the "Shares") at the Repurchase Price (as defined below) up to a maximum aggregate consideration of US$ 15 million in accordance with the authorization provided at its Annual General Meeting on 1 June 2018 (the ......read more

Compact and flexible design ideal for any environment 99% online efficiency and Lithium-ion battery option reduce Total Cost of Ownership EcoStruxure™ Ready simplifies management and servicing Modular design for faster deployment and servicing Dubai, UAE, April 14, 2019:  Schneider Electric, the leader in digital transformation of energy management and automation, today introduced the Galaxy VS, a highly efficient, modular, easy-to-deploy, 10-100 kW, three-phase Uninterruptible Power Supply (UPS) designed to meet the critical power requirements of IT, commercial, and industrial facilities.    With its compact and flexible design, the Galaxy VS addresses the unique requirements of edge computing and small data centers where space and access are at a premium. Up to 99% efficient and with optional ......read more

Strengthening Dubai's Position as a Hub for Petrochemicals and Chemicals Dubai, United Arab Emirates, 13 April 2019:   DP World UAE Region will showcase its latest range of offerings for the petrochemicals and chemicals sector at the 11th Gulf Petrochemical and Chemical Association (GPCA) trade show that will be held from 15-17 April 2019 in Dubai. The company will highlight new door-to-door logistics solutions that cover the full breadth of the supply chain and support customers every step of the way. These solutions are based on generating and leveraging synergies from integrating the activities of its numerous businesses –including Jebel Ali Port, Jebel Ali Free Zone, Dubai Trade, and many others – and creating one of the most efficient and robust supply chains in the GCC. Mohammed Al Muallem, CEO and ......read more

The solar plant will produce enough energy to supply more than 45,000 Australian homes, while avoiding the emission of 175,000 tons of CO2 per year FRV has invested USD 700m in Australia since 2012  Company investing USD 900m worldwide in 2019 alone in strategy to increase installed capacity eight-fold by 2024 in projects around the world Dubai, UAE, 10 April 2019:  Fotowatio Renewable Ventures (FRV), part of Abdul Latif Jameel Energy and a global leader in the development of renewable energy projects, has announced that its latest project in Australia, the Lilyvale solar plant, is now up and running.   The 100 MW ac project produced its first Kwh of energy last month and is expected to reach full capacity in the coming months following a testing phase. Located in the Queensland Central Highlands region, ......read more

Schneider Electric Exchange is the world’s first cross-industry open ecosystem that unleashes the power of collaboration in an open environment Schneider Electric’s EcoStruxure architecture and platform gives unprecedented productivity with IIoT-ready solutions for machine builders A new range of EcoStruxure Advisor apps and services help companies start their digitization journey Dubai, United Arab Emirates, April 8, 2019 –   Closely aligned to the “Integrated Industry – Industrial Intelligence” theme of Hannover Messe, Schneider Electric, the leader in digital transformation of energy management and automation, will showcase a range of digitally connected products, solutions, and services that help customers either begin their digitization journey, or accelerate their digital ......read more

Offering several new, customizable reference designs for flexibility and fast deployment at the Edge Dubai, UAE, April 07, 2019:   Schneider Electric, the leader in digital transformation of energy management and automation, announced today new solutions for micro data centers that couple APC by Schneider Electric physical infrastructure with Cisco’s HyperFlex Edge, hyperconverged infrastructure (HCI) solutions for quick and efficient deployment in edge environments in EMEA (Europe, the Middle East & Africa) and NAM (North America & Mexico).   Together, Schneider Electric and Cisco can now offer IT global channel partners and system integrators access to several new reference designs for HyperFlex deployments that can be used as-is or be customized to meet specific micro data center needs. ......read more

The transaction from APICORP is the third successful “Formosa” bond since its first Formosa issuance in 2016 Dubai, UAE, April 03, 2019:   The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, rated Aa3 by Moody’s with a positive outlook, successfully issued its third Formosa bond after accessing this market earlier in 2016 and 2017. The Aa3 rated USD 300 million 5-year Note which matures on April 01, 2024, offers investors a floating rate coupon.  The transaction attracted robust investor demand with order book close to three times oversubscribed, enabling APICORP to price its Formosa well within its secondary curve while also continuing to strengthen its investor access into Asia, innovate its funding profile and access efficient and cost-effective financing ......read more

Structural Integrity Test (SIT) and Integrated Leak Rate Test (ILRT) successfully completed for Unit 2 SIT and ILRT demonstrate Unit 2’s exemplary structural safety performance under normal and extraordinary circumstances  Abu Dhabi, UAE – 31 March  2019:  The Emirates Nuclear Energy Corporation (ENEC) has recently completed the Structural Integrity Test (SIT) and Integrated Leak Rate Test (ILRT) at Unit 2 of the Barakah Nuclear Energy Plant. These significant pre-operational tests incorporated all the lessons learned from the same tests on Unit 1, and represent another major achievement in the testing and commissioning phase of the Barakah plant, located in the Al Dhafra region of Abu Dhabi Emirate.   The SIT and ILRT were performed over a period of ten days, on the Unit 2 at Barakah. ......read more

Schneider Electric is the first multi-national company to achieve unanimous commitment by its country presidents to the UN’s guidelines on gender equality and empowerment Commitment exemplifies Schneider Electric’s practices of inclusion and furthers the company’s goals of advancing gender equality across its global footprint  Dubai, United Arab Emirates, March 26, 2019 –   Schneider Electric, the leader in digital transformation of energy management and automation, announced today that it is the first multi-national company to  achieved 100% commitment to the UN Women’s Empowerment Principles (WEPs) across its global leadership team. In addition to the company’s Chairman and CEO, Jean-Pascal Tricoire, each of the company’s country presidents in markets with at least ......read more

Fortifies end-to-end cyber portfolio to protect industrial installations Advanced technology shrinks attack surface by more than 90 percent Cuts cybersecurity deployment and ownership costs by 50 percent or more   Dubai, United Arab Emirates – March 21, 2019 –   Schneider Electric, the leader in the digital transformation of energy management and automation, has entered into a global partnership with Vericlave, a leading cybersecurity technology provider. Under the terms of the agreement, Schneider Electric will provide Vericlave’s advanced encryption technology to further secure and protect its customers’ critical IT and OT systems from the risk of cyberattack.    “Digital transformation and the growth of IoT are giving rise to new threats that can have a ......read more

Dubai, UAE; March 19, 2019: As part of its commitment towards human capital development, ENOC Group will offer over 200 job opportunities across upstream, downstream and corporate divisions within the Group to UAE nationals. These rewarding career opportunities will be showcased by the Group at the UAE Career Fair, to be held from March 19 to 21 at the Dubai World Trade Centre. ENOC is recruiting young talented Emirati nationals in the energy sector in specialisations including chemical, mechanical and electrical engineering, sales, marketing and business development and the legal field, to support the Group’s growth strategy.  His Excellency Saif Humaid Al Falasi, Group CEO, ENOC, said: “We thrive to provide our employees with opportunities to contribute to the growth of the UAE and aim to fulfil their ......read more

• Schneider Electric executives collaborate with other sustainability leaders on how to deliver tangible actions on the most pressing global sustainability challenges   • Company demonstrated how low carbon economy can be a reality now including business and the most vulnerable population alike    Dubai, March 18, 2019 – Almost 4 years after the adoption of the Paris Agreement, President of France Emmanuel Macron organized on March 14th in Nairobi (Kenya) the first regional edition of the One Planet Summit, co-chaired with Uhuru Muigai Kenyatta, the President of the Republic of Kenya. This High-Level session gathered Heads of State and Ministers heading national delegation to UN Environment Assembly (UNEA) as well as representatives of the finance and the business sectors, local governments, ......read more

Cumulative saving of 1,160 Mega Watt electricity Dubai, UAE, 17 March 2019: Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has achieved total electricity savings of 1160 MW, worth AED 3 billion, in 2018 “As per its vision, Empower adopts an integrated strategy that contributes in raising customers awareness about conservation of energy. We thrive to reduce energy consumption and protect the environment and the natural resources, through our energy efficient district cooling services. This, in turn, supports the sustainable development and the green economy in the UAE and helps to achieve Dubai Clean Energy Strategy 2050 which aims to transform Dubai into a global hub for green economy, through providing 7% of energy from clean resources by 2020, 25% by ......read more

Marks an exciting and entertaining new addition to the emirate's events calendar  Abu Dhabi, 14 March 2019 -   Abu Dhabi is set to host the inaugural Abu Dhabi Engine Week, aimed at car and adventure enthusiasts from across the UAE and wider Gulf region. From 28 March – 6 April, Engine Week will present a packed 10-day schedule of exciting activities in locations throughout the emirate. The event is expected to attract thousands of participants to its various programmes, which include five main events: Custom Show Emirates and Abu Dhabi International Motor Show at Abu Dhabi National Exhibition Center; Club Social at Yas Beach; Abu Dhabi Desert Challenge in Yas Island and Western Region; and the WRX Championship at Yas Marina Circuit. In addition, there will be numerous concerts, citywide promotions and more ......read more

Emirates Nuclear Energy Corporation and ENUSA to collaborate and exchange of information and expertise in nuclear fuel services MoU signing ceremony held at ENEC headquarters in Abu Dhabi Abu Dhabi, UAE – 13 March 2019:  The Emirates Nuclear Energy Corporation (ENEC) has signed a memorandum of understanding (MoU) with Enusa Industrias Avanzadas, S.A., S.M.E. (ENUSA), defining a framework for collaboration and the exchange of information and expertise in the field of nuclear fuel services.   Founded in 1972 with a focus on uranium mining, ENUSA has evolved into an advanced nuclear fuel and environmental services provider. Today, ENUSA is responsible for the design, manufacture and supply of fuel to Spanish nuclear energy plants, as well as to plants around the world, in addition to providing a wide range of ......read more

Dubai, UAE, March 13, 2019:  The   Industrial Sector’s Business Group, operating under the umbrella of the Sharjah Chamber of Commerce and Industry (SCCI), has discussed the SCCI strategy to enhance the industrial sector’s contribution to Sharjah economic growth, activate forward-looking plans and improve the industrial sector’s competitiveness in the business community. Chaired by Lalu Samuel, chairman of the industrial sector’s Business Group, the meeting was attended by Abdelaziz Mohamed Shattaf, Assistant Director General for Members Services Sector at SCCI, Director of Sharjah Exports Development Center (SEDC) and Amjad Awad al Karim, Head of the Working Groups at SCCI, as well as other group members. The meeting discussed a variety of coordination and follow-up mechanisms related to the ......read more

Ahmad Bin Shafar: “This recognition proves our commitment towards positive change that supports society and promotes sustainable development” Dubai, UAE, 11 March 2019:   Emirates Central Cooling Systems Corporation (Empower), the world’s largest district cooling services provider, has been awarded Dubai Chamber CSR label, for the fifth year consecutively, for its outstanding contributions in promoting Corporate Social Responsibility (CSR) initiatives and environmental practices that have positive impacts in society and on the environment. “We are happy to receive the Dubai Chamber CSR Label, as it proves our commitment towards positive change, supports society and promotes sustainable development. I appreciate Dubai Chamber’s tremendous efforts in promoting CSR approach, especially towards ......read more

Electro-magnetic charging stations for Electric Vehicles, Magnetic RAM for data storage and Efficient Smart House to reduce power consumption among leading entries Dubai, UAE, Thursday March 9, 2019:  Some of the region’s brightest young engineers have showcased a wave of intelligent, next-generation solutions designed to solve today’s greatest power challenges during the sixth Future Generation competition, a knowledge development component of this week’s Middle East Electricity at Dubai World Trade Centre (DWTC).  Held under the theme Smart Energy Solutions: Improve Energy Efficiency, the competition sees teams of Undergraduate and Postgraduate students from 10 of the region’s leading universities judged in three key criteria: ideas or solutions to combat excessive use of power, cost-effective ......read more

44th edition of region’s leading power event welcomes more than 60,000 industry professionals across three-day show 1,600 exhibitors from all corners of the globe spotlight breakthrough tech and latest solutions to feed GCC’s USD109 billion power investment needs   Dubai, UAE, Tuesday March 5, 2019: His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance & Industry, today inaugurated Middle East Electricity 2019 – the 44th edition of the region’s leading event for the power industry. Hosted by the UAE Ministry of Energy, Middle East Electricity runs at Dubai World Trade Centre (DWTC) until March 7, bringing together 1,600 industry heavyweights and energetic start-ups from around the globe. With the MENA Power Industry Outlook Report, prepared by ......read more

Inspections reveal that several companies are yet to comply with Emirates Authority for Standardization & Metrology (ESMA) guidelines  Dubai, United Arab Emirates - March, 05, 2018:  A joint task-force comprising six Dubai Government entities and ENOC Group is taking concerted efforts to curb illegal trade of diesel in Dubai, which have seen steady progress in recent months.   The task-force includes representatives of Dubai Economic Department, Ministry of Human Resources & Emiratization, Emirates Authority for Standardization & Metrology, Roads & Transport Authority, Dubai Municipality, Dubai Police and ENOC Group.    An estimate of 38 per cent of the companies inspected reported compliance with the guidelines set by Emirates Authority for Standardization & Metrology (ESMA) ......read more

United Arab Emirates - March 04, 2019: 2019- 27 French companies will be exhibiting in 2019 with Business France, the national agency supporting the international development of the French economy, at the Middle East Electricity Show in Dubai, a chance for a French excellence sector that is both innovative and dynamic to enjoy the spotlight. The event is truly a springboard for companies looking to expand in the broader Middle East, sub-Saharan Africa and South Asia.   Many opportunities exist in this very fast-growing market, driven by the staggering development in several sectors: retail distribution, transport, logistics, infrastructure and residential. With major international events such as the Dubai World Expo 2020, to be hosted in the region, and the return of major real estate projects announced by public contractors, ......read more

Dubai, UAE – Monday 4th March, 2019:  Power industry professionals from around the world descend on Dubai tomorrow (5th March) for Middle East Electricity 2019, the 44th edition of the region’s leading event for the power industry, to debate, promote and reshape the future of a sector beset by game-changing disruption.  The power battalion are exhibiting, visiting, and speaking at conferences and workshops at the three-day Middle East Electricity event, which runs until March 7 at Dubai World Trade Centre (DWTC). When the curtain rises on the show, which spans 14 exhibition halls, an anticipated turnout of more than 60,000 industry professionals will discover more than 1,600 leading manufacturers and suppliers from all continents ready to promote a multitude of disparate technology.  “From smart ......read more