Mrs.Bectors Food Specialities Limited, an Indian cookie and cracker manufacturing company, has incorporated a fully-owned subsidiary — Mrs.Bectors Food International (FZE) in the United Arab Emirates (UAE). The capital of the new subsidiary will be AED 150,000. Mrs.Bectors Food International (FZE) will be engaged in bread, bakery products trading confectionery and chocolate trading and pastry […]
Louis Dreyfus Company Holdings has closed the previously announced sale of an indirect 45% stake in Louis Dreyfus Company B.V. (LDC), a Dutch agricultural commodities merchant, to ADQ, an Abu Dhabi-based holding company. The deal was announced by the food and agricultural commodity group in November 2020. As part of the deal, Louis Dreyfus had […]
Ind-Swift Laboratories Limited has agreed to sell its fully-owned Dubai-based subsidiary — Ind-Swift Middle East FZ-LLC (ISME) to UAE-based Soft Air General Trading, for a sum of $1.98 million. Based in Chandigarh, Ind-Swift Laboratories is an active pharmaceutical ingredient (API) and contract research and manufacturing services provider. The turnover of its subsidiary was nil and […]
Route Mobile Limited said that it has signed an agreement with Emirates Integrated Telecommunications Company (EITC) – du, a UAE-based telecommunications company, for providing a turnkey solution using the former’s Smart Messaging Hub. According to the Indian cloud communications platform as a service company, its Smart Messaging Hub will help du to roll out a […]
LT Foods, the owner of the DAAWAT basmati rice brand, said that its joint venture company with Japanese rice cracker manufacturer Kameda Seika has started exports of Kari Kari in the Australian and the UAE markets. Launched in India in January 2020, Kari Kari is a rice-based crunchy snack. Prepared from rice and peanuts, Kari […]
Larsen & Toubro (L&T) said that its construction division has bagged orders in power transmission and distribution, building and factories, and transportation infrastructure businesses. The Indian construction engineering company has secured orders for the designing and construction of a couple of 132/11kV substations in Dubai. The turnkey orders call for the supply of gas insulated […]
Injazat, a UAE-based IT company, has agreed to form a joint venture (JV) with oil rig construction firm Lamprell for creating and marketing digital solutions focusing mainly on the renewables and oil and gas sectors. The 50:50 joint venture will be backed with initial funding of $7 million. It will be registered inside the Abu […]
The Russian Direct Investment Fund (RDIF) said that the Russian Sputnik V Covid-19 vaccine has been authorized for use by the UAE Ministry of Health and Prevention (MOHAP) in the country for providing protection against the SARS-CoV-2 virus. According to the Russian sovereign wealth fund, the Sputnik V vaccine was registered under the emergency use […]
Lebanon-based Bank Audi sal has agreed to divest its Egyptian subsidiary – Bank Audi sae to UAE-based First Abu Dhabi Bank (FAB) for an undisclosed price. Bank Audi sae was launched following the acquisition of Cairo Far East Bank sae by Bank Audi sal in 2006. The Egyptian bank has 53 branches. Its Lebanese parent […]
JinkoSolar has struck a deal to sell its stake in the Sweihan Power Station, a 1.2GW solar power plant in Abu Dhabi, to Jinko HK, an indirectly wholly-owned subsidiary of Jinko Power Technology (JinkoPower). The financial terms of the deal were not disclosed. The Sweihan Power Station, which was built with an investment of $871.2 […]