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5801 - 5810 from 16533 . In "BUSINESS"
Al Falak successfully installs Eaton 9PHD UPS in Saudi Arabia
RIYADH — Al Falak Electronic Equipment & Supplies Co., a leading information technology (IT) and communications solutions provider in the Kingdom of Saudi Arabia (KSA), recently achieved a milestone after successfully completing the installation and testing of Eaton 9PHD 200 kVA heavy-duty industrial UPS for the first time.Al Falak installed the next-generation Eaton 9PHD UPS, which is designed to maintain a steady, uninterrupted, clean power supply, in the manufacturing facility of food manufacturers company Ulker Saudi Arabia.Ahmed Ashadawi, President and CEO, Al Falak, said: “We are happy to announce that the Al Falak team has successfully delivered, installed, and tested Eaton 9PHD UPS at Ulker factory. Although we have been distributing Eaton products for the past 15 years, this...
October 08, 2019

Al Falak successfully installs Eaton 9PHD UPS in Saudi Arabia

germsn industrial
German recession looms as industrial orders drop
BERLIN — German industrial orders fell more than expected in August on weaker domestic demand, data showed on Monday, adding to signs that a manufacturing slump is pushing Europe's largest economy into recession.Contracts for 'Made in Germany' goods fell 0.6% from the previous month, with demand for capital goods down 1.6%, the economy Ministry said. The overall fall compared with a Reuters consensus forecast for a drop of 0.3%."The German economy is in the midst of a recession. Today's data make that clear again," said Thomas Gitzel, economist at VP Bank Group.The economy shrank by 0.1% in the second quarter, and recent data have pointed to continued weakness in manufacturing in the third quarter. Most economists define a recession as two straight quarters of...
October 07, 2019

German recession looms as industrial orders drop

‘Saudi Build 2019’ opens in Riyadh
RIYADH — Under the patronage of Prince Faisal Bin Bandar Bin Abdulaziz Al Saud, Governor of Riyadh Region, Riyadh Exhibitions Company Ltd. (REC) inaugurated the 31st edition of the Saudi Build Exhibition 2019. With a platinum sponsorship by Saudi Exports Development Authority, and the partnership of The National Gas and Industrial Company (GASCO), Saudi Council of Engineers, and Saudi Contractors Authority (SCA), Saudi Build is taking place Oct. 7 to 10, 2019 at the Riyadh International Convention & Exhibition Center.Concurrently held with Saudi Stone Tech, Saudi Build PMV Series, Interior Design and Saudi Build Technology & Automation Building, Saudi Build 2019 is a one-of-a-kind construction trade extravaganza that will provide unique opportunities and enormous prospects for investors...
October 07, 2019

‘Saudi Build 2019’ opens in Riyadh

Abdulaziz Hamad Aljomaih - Chairman
Arcapita’s net income soars 76% in FY 2019
MANAMA – Arcapita, a leading global Shariah- compliant investment firm, announced Monday its financial results for the 12 months ended June 30, 2019 (FY 2019).Arcapita delivered strong results in FY 2019 with revenues of $54.6 million and a net income of $21.9 million, representing 44% and 76% growth over the previous fiscal year, respectively. This positive performance was driven by the placement of transactions completed during the year and gains on the firm’s investment portfolio.Arcapita’s total equity as of June 30, 2019 grew to $237.9 million, representing an 8% increase year-on-year, and the firm’s balance sheet investments grew by 16% to reach $245.5 million.The firm was primarily focused on sourcing transactions in the United States during FY 2019 given its strategy of...
October 07, 2019

Arcapita’s net income soars 76% in FY 2019

Mideast firms risk losing $575bn in ‘trapped’ value from industry disruption
DUBAI — Disruption from innovative digital technologies could put more than $575 billion of Middle Eastern companies’ total value at risk, according to a new report from Accenture.The report, “Accenture Middle East Innovation Maturity Index,” is based on a survey of 200 C-suite executives in Saudi Arabia and the United Arab Emirates (UAE) and an analysis of more than 275 companies across the Middle East that measures “trapped value — i.e., the value that businesses could be releasing or sharing if they could change faster and more fundamentally to capitalize on technology-enabled innovations and avoid industry disruption.”Accenture estimates that there is $578 billion in trapped value across the Middle East region. The report notes that while executives are aware of the...
October 07, 2019

Mideast firms risk losing $575bn in ‘trapped’ value from industry disruption

Airbus taps 2CRSi for calculation servers
DUBAI – 2CRSi has been chosen by Airbus to provide very high-performance calculation servers that will be used by a European anti-crime agency.This commercial success relates to the rollout of OCtoPus 1.8B servers for a total 3,744 CPU Intel Xeon cores and more than 7.45 million NVIDIA CUDA cores. These OCP (Open Compute Project) servers have been specially designed to function in immersion cooling tanks developed by Submer Technologies.The range of OCtoPus servers, launched by 2CRSi in 2017, provides a tangible response to the energy requirements of datacenters in order to meet their ecological challenges1 with a reduction in the energy consumption of OCtoPus servers of more than 23% compared to equivalent servers fitted with traditional cooling systems.Under this Airbus project, the...
October 07, 2019

Airbus taps 2CRSi for calculation servers

Badr Buhannad
Dubai Economy, Dubai Pulse unveil blockchain-based unified registry platform
DUBAI — Dubai Economy has announced its move to a Unified Business Registry Platform (UBRP) hosted on the innovative Blockchain Platform as a Service (BPaaS) of Dubai Pulse, a joint initiative of Smart Dubai and du. The UBRP will enable local and federal entities to provide a unified and transparent outlook of business in Dubai and establish a better regulation model.Announced during GITEX Technology Week 2019, the BPaaS network is a blockchain solution that enables license issuers to manage their trade licenses and corporate registries. The solution has three entities - Dubai Silicon Oasis Authority, Dubai Electricity and Water authority (DEWA) and Dubai Multi Commodities Centre (DMCC) – already on board the UBRP and BPaaS aims to host 40 government entities on the platform.Abdullah...
October 07, 2019

Dubai Economy, Dubai Pulse unveil blockchain-based unified registry platform

2Z9B1834
Saudi Arabia shows its import-export system at GITEX Tech Week
DUBAI — The Kingdom of Saudi Arabia is participating in GITEX Technology Week 2019 as the strategic partner of the exhibition in its 39th edition, represented by the unified national system for all import and export activities (Fasah).The smart logistics platform is showcasing its latest technology, whereby visitors to the Fasah pavilion were introduced to the electronic payment window, Fasah Pay, which ended all paper-based import and export financial transactions, making them available electronically; thus, providing customers with reliability and flexibility. Customers also witnessed the journey of the import and export process in the past and how the procedures were re-engineered to become smoother through systems included in the platform, such as the ‘Truck Management System,’...
October 07, 2019

Saudi Arabia shows its import-export system at GITEX Tech Week

Ruhi Indian Restaurant launched in Riyadh
RIYADH — The city of Riyadh witnesses the long awaited opening of Ruhi restaurant that serves authentic Indian delicacies in the presence of Ambassador of the Republic of India in Saudi Arabia Dr. Ausef Sayed, along with established social media influencer Dr. Hassan Ghoneim, journalists and food bloggers. Ruhi is considerably the first Indian restaurant owned by the reputable Company Advanced Food based in the heart of Riyadh. Advanced Food Company owns a chain of restaurants and has recently achieved remarkable success in a short period of time, after the opening of one of their restaurants “HARAT” which instantly gained momentum and had been shortlisted and classified recently by Four Square as the most popular restaurant in the city of Riyadh.Being the first Indian restaurant of...
October 07, 2019

Ruhi Indian Restaurant launched in Riyadh

GE launches latest evolution of HA gas turbine
RIYADH — Access to affordable, reliable, flexible, and sustainable electricity is critical to growing economies and is fundamental to quality of life in the modern world. Helping to meet this growing need, GE has launched the latest evolution of its HA gas turbine, the 7HA.03. GE has also achieved a milestone with MYTILINEOS S.A., a leading Greek industrial company, which placed an order for the GE 9HA.02 gas turbine to be the heart of one of the largest natural gas-fired combined cycle power plants in Europe at the Agios Nikolaos Power Plant in Greece. This marks the 100th unit of GE’s HA gas turbine ordered, the world’s fastest growing fleet of gas turbines.GE’s HA technology is gaining increasing popularity in the Middle East as well. Sharjah Electricity and Water Authority...
October 07, 2019

GE launches latest evolution of HA gas turbine

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