International Business Opportunities

Saudi-based retail chain, Danube Hypermarket has opened its second branch at Panorama Mall, in Riyadh, Saudi Gazette has reported. The new branch brings to nine the total number of its branches in the kingdom.


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The China office of U.S. aircraft manufacturer Boeing said Monday it had yet to receive any notice related to China’s planned sanctions on companies involved in the latest U.S. arms sales to Taiwan.
·Sanctions target US firms
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Dubai-based Arabtec Holding said it has been awarded a Dhs710m (3m) building contract by Abu Dhabi-based Tasameem Real Estate Co, Bloomberg has reported. The contract is for building Tasameem’s ‘P17 Tower’ on Sheikh Zayed Road, the construction firm said.


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Khalid bin Kalban, CEO of Union Properties has said an agreement has been reached with creditors of the developer to reschedule Dhs5.5bn (.5bn) in debt, Arabic daily al-Ittihad has reported. The company also signed agreements for additional loans to finance the completion of its current projects, he told the newspaper.
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Kuwait’s Petrochemical Industries Co has said the firm plans to build an olefins complex at a cost of about bn, managing director Maha Mulla Hussain told Reuters. ‘PIC plans to build a third olefins complex…The enterprise is still in the initial study phase and we expect to complete it by February 2010,’ she said.


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Agricultural conglomerate Cargill has requested a license to build a sugar refinery in Egypt with investments worth LE 600 million, Al-Borsa newspaper has reported. ‘The final approval for Cargill’s sugar refinery is part of the government’s plan to encourage sugar production to decrease the gap between supply and demand in the country,’ Amr Assal, head of Egypt’s Industrial Development Authority, was quoted as saying by the newspaper. The new plant will be in the Damietta area on Egypt’s north coast and is expected to start up one year after it receives approval, the paper quoted Hussien Elawendy, Cargill’s adviser in Egypt, as saying.
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For the first time Beijing vowed to censure private companies involved in the arms sales to Taiwan by the United States, a measure seen as concrete by experts and demanded by Chinese netizens for a long time.
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S Kumars Nationwide said its consolidated net profit rose 77.88 per cent to Rs 67.39 crore for the quarter ended December 31, 2009.
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Entertainment firm Pyramid Saimira Theatre today posted a loss of Rs 3.66 crore for the quarter ended December 31, 2009.
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