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GCC TodAy


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On the Radar Emke in Saudi expansion


The UAE’s Emke Group is planning to expand in the Saudi Arabian retail sector through its chain of Lulu Hypermarkets. Emke is looking to open new stores in several locations in the kingdom including Dammam, Jubail, Riyadh, Makkah and Madinah. Emke is already present in Oman, Qatar, Kuwait and Bahrain.


TAQA sees sharp rise in Q3 net profit


TAQA, the Abu Dhabi National Energy Company, has said its third quarter net profit more than doubled to Dhs537 million from Dhs218 million during the same period a year ago. The biggest push came from oil and gas revenues, which rose 68 per cent when compared to the third quarter of 2010, to reach Dhs2.74 billion.


Topaz raises $380m


UAE based oilfield services provider Topaz Energy and Marine has established a $380 million financing deal with the Standard Chartered Bank and the DVB Bank. The arrangement involves the firm’s offshore support vessel division, Topaz Marine, and $125 million of the money will be used to fund ships under construction or new vessels.


20 / DECEMBER 2011


PROJECT focus adac completes upgrade


The abu Dhabi airports Company (aDaC) has completed the refurbishment and upgrading of Terminal 1 at abu Dhabi international airport. The project included an increase in the number of check-in and immigration counters, in addition to the expansion of the retail and food and beverage space.


The project was carried


out over ten months as part of the programme to expand the airport’s capacity and meet anticipated traffic growth. The airport is presently undergoing a major multi- billion dollar expansion plan which has seen the construction of a second runway as well as a third terminal building. as the


Ford doubles GCC sales


Ford saw a 55 per cent sales growth in the GCC this year and has just opened a $53 million spare parts centre in Jebel Ali. “It’s a great year for us,” said Hussein


Murad, the director of sales at Ford Middle East. “We are making money, making profits and selling a lot of cars. “All our new products – Explorer, Taurus and Edge have experienced high demand; almost five times the supply for these products, ” he said. The firm is putting aside worries about another recession hitting the region and hitting demand.


“We can’t control the economy,” said Paul


Anderson, Ford Middle East’s director of marketing. “So we have to focus on the things we can control and that is simply introducing the best products that are available so that when consumers do buy, Ford is their choice.”


emirate’s flag carrier Etihad airways develops, the airport is eventually hoping to be able to handle 20 million passengers a year. as part of the


improvements, there has been a 40 per cent increase in the number of counters in the passport control area, while the airport’s hotel and hospitality lounges have been refurbished.


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