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News & Views General Topaz Energy and Marine, a wholly owned subsidiary of Oman’s Renaissance Services, divested its offshore support vessel TEAM Siam to Thailand’s Mermaid Offshore Services Ltd for $29.5 Mn. Bahrain Flour Mills Company received about BD10 Mn as a government subsidy in 2009, due to the rise in the global wheat prices. [...]
News & Views General Zain has removed ownership restrictions to enable foreign investors to acquire a majority stake in the company. Saudi Aramco’s planned joint venture with Dow Chemical would have an annual production capacity of 8 Mn tonnes of petrochemical products. Sabb Takaful has successfully raised SR343.4 Mn in capital through its rights issue. [...]
News & Views General § France Telecom’s unit submitted an obligatory tender offer to acquire the entire stake of Egypt based Mobinil. § Saudi Arabia’s capital expenditure on development projects rose 103% y-o-y to SR40.6 Bn during the first quarter of 2009. § Oman and Uzbekistan have set up a joint investment company with a [...]
