Under the patronage of the UAE Ministry of Foreign Affairs, the Dubai Chamber of Commerce and Industry will organise a conference titled “Partnership to Invest in Future Syria” on November 21 in Dubai.
The one-day conference is expected to attract over 500 regional and international businesspeople, entrepreneurs, policymakers and sectoral experts. The conference marks the second meeting of the working group on economic recovery and development, which is co-chaired by the UAE and Germany.
DSCI raises $120m in a 5-year loan
Drake & Scull International (DSI), a regional market leader in integrated design, engineering and construction disciplines of civil contracting, mechanical, electrical and plumbing (MEP), water and power, oil and gas and rail signed on Wednesday a $120 million equivalent loan financing split across a dirham and dollar tranche. The company raised a five-year term loan with a syndicate of banks.
Osama Hamdan, CFO of DSI, commented: “The loan will help the company in pursuing its growth plans in North Africa, Asia and other growth markets.
Pynkiss opens store at the Dubai Mall
The global expansion of Hello Kitty’s high-end fashion brand, Pynkiss is well into its task of worldwide domination. Having recently seen two store launches in Beirut the brand has now branched out with another store opening, this time in the UAE at the Dubai Mall.
The store is located on the second floor amongst other well-known children’s fashion brands such as Angels, Salam Kids, Gucci etc.
“The first store in the Dubai Mall has now opened with very promising feedback from all consumers,” said managing director Ezzeddine El Baba of AW Rostamani Lifestyle.
Mashreq board member resigns
Dubai’s Mashreq said board member Majed Saif Al Ghurair has resigned with immediate effect, according to a bourse filing on Wednesday.
No reason for the resignation was given.
Al Ghurair, who is also a board member of the Dubai Financial Support Fund, belongs to one of Dubai’s most prominent merchant families.
PayPal rolls out in ME with Aramex
PayPal on Wednesday announced the launch of its Middle East operations with the news that it has signed an agreement with Aramex to support its Shop & Ship service, helping to make overseas transactions easier for Middle East consumers.
“PayPal offers a safe and secure way to shop online. This deal with Aramex allows Mena consumers to shop abroad for their preferred brands, and have their purchases delivered to their door steps in a simple and more straightforward way,” said Elias Ghanem, managing director of PayPal Mena, who will lead the operations.
Gulftainer wins Tripoli concession
Sharjah-based port operators Gulftainer have been awarded the concession to develop and operate a new container terminal at the Port of Tripoli in Lebanon.
The concession will last for 25 years and start with an initial investment of over $60 million in new equipment and machinery, including three ship-to-shore gantry cranes, nine yard cranes and the latest technology in other container handlers and yard management systems. Once complete, the new terminal will be able to accommodate some of the largest container vessels.
From : Khalij