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MPW to disburse financial dues to firms, contractors - Dotemirates
Arab Times - Dotemirates
Arab Times
4 century 9 year

MPW to disburse financial dues to firms, contractors

KUWAIT CITY, Sept 22: Disbursement of financial dues to the contractors and companies that carried out projects has been suspended by the financial supervisor for four months now, reports Al-Anba daily quoting a reliable source from Ministry of Public Works. The source explained that the total amount of these dues has reached nearly KD 600 million. Minister of Public Works Eng Hossam Al-Roumi reportedly asked head of the financial supervision department to change the financial supervisor of the ministry after he interfered in the authorities of the minister and undersecretary. Based on the recommendation of Minister of Public Works, the...

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Gulf Business
14/02/2019

Dubai’s ENOC group to expand aviation operations in Egypt

Dubai’s ENOC group has acquired a share in the jet fuel hydrant system at Terminal 2 of Cairo International airport, expanding its aviation operations in Egypt, it announced on Tuesday. The hydrant system at Cairo airport fuels 18 aircrafts at Terminal 2 and has been operational since 2017. It has seen investments from Egyptian and multinational players from the energy sectors. ENOC also plans to open an office for its aviation operations and jet fuel marketing in Egypt, it said in a statement. The announcements follow a recent agreement with the Egyptian General Petroleum Corporation (EGPC) to enable the supply...
Business
Gulf Business
14/02/2019

UAE’s Dana Gas to drill in what could be Egypt’s next mega gas field

Dana Gas will begin drilling this year in an area it says could become Egypt’s next giant Mediterranean gas field, after seismic data pointed to reserves as large as 20 trillion cubic feet. That data will be put to the test beginning in April or May, when it expects to start drilling an area that could hold 4-6 trillion cubic feet of gas, Dana Gas CEO Patrick Allman-Ward told Reuters on the sidelines of an energy forum on Tuesday. “If the geology works out the way that we think it will, then in the success case it could be a...
Business
AME info
14/02/2019

“Honey, I shrunk the cash” – A “graphic” Valentine’s story

February 2019 has only 28 days. Ideally, we should have all have more money remaining toward the end of the month … but then again, there’s Valentine’s Day! There goes the money Get this – even though only 51 percent of Americans are keen on celebrating Valentine’s Day in some form or the other, they will be shelling out a record $20.7 billion collectively on the occasion. This pegs the average spend of a person at $161.96 – an increase of 13% from 2018, according to the National Retail Federation survey. Valentine’s Day Spending vs Percentage of People Celebrating Valentine’s...
Business
BBC
14/02/2019

Patisserie Valerie rescue saves 2,000 jobs

Patisserie Valerie is being bought out of administration in a deal that will save nearly 2,000 jobs.The management team at the coffee and cake chain has secured backing from investment firm Causeway Capital to take over 96 shops.Sister brand Philpotts has also been sold in a separate deal, saving a further 21 stores. Collectively the chains fetched £13m - a fraction of what the group was once worth.Patisserie Valerie's parent company, Patisserie Holdings, collapsed in January following an accounting scandal. Patisserie Valerie's chief executive, Steve Francis, who is leading the management team buy-out, said the move would end "a disruptive...
Business
Arab News
14/02/2019

Abu Dhabi’s Etihad Airways restructures Airbus, Boeing jet orders

ABU DHABI: Etihad Airways said on Thursday it has agreed with Airbus and Boeing to restructure a “large portion” of its orders, in what appeared to be a major cut in long-haul jet orders.The Abu Dhabi-owned airline said in a statement that it has committed to take delivery of five Airbus A350-1000s and 26 A321neos plus six Boeing 777-9s “over the coming years.”However, it has ordered more aircraft, mostly in 2013 when it went on a jet-buying spree, and said in the statement that the “balance of the remaining orders will be defined at a later time through rescheduling, restructuring...
Business
Deccan Chronicle
14/02/2019

Gold, silver stay subdued on tepid demand

New Delhi: The downward movement of gold continued for the fourth straight day as prices dropped by Rs 50 to Rs 34,000 per 10 grams at the bullion market on Thursday owing to slackened demand from local jewellers, despite positive global cues. Similarly, silver shed Rs 150 to Rs 40,650 per kg owing to reduced offtake by industrial units and coin makers. Globally, gold was trading 0.18 per cent higher at USD 1,309.20 an ounce and silver by 0.52 per cent to USD 15.71 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5...
Business