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The Qatar government will invest US$123.57 billion for local projects during the next ten years, Minister of Economy and Finance Yousef Hussain Kamal has been reported as saying by the Qatar News Agency. Kamal told daily Arabic newspaper Alwatan that Qatar will invest billions of riyals in infrastructure projects, oil, gas and petrochemicals. However, he added that Qatar will continue its investment abroad.
Structured cabling specialist, Reichle & De-Massari (R&M), has installed a complete end-to-end enterprise cabling solution for Middle East and North Africa financial institution, HC Securities. HC Securities had chosen Swiss company R&M?s range of enterprise cabling to connect its entire network infrastructure for its office headquarters located in Cairo, Egypt. The project was completed by R&M?s long time implementation partner and Egyptian systems integrator, Channel Computer Services.
Telecom Egypt has announced a second-quarter profit rise of 23 per cent, beating estimates from analysts. Net income reached US$170.7mn from US$138mn a year before, the Cairo-based company said in a recent statement distributed by the Regulatory News Service.
UAE telecom operator, Etisalat, is close to buying a 26 per cent stake in the second most successful Indian telecoms firm Reliance Communications.
State-owned Abu Dhabi Ports Company (ADPC) may sell up to US$1 billion in bonds early next year to finance the Khalifa Port Industrial Zone (KPIZ) in Abu Dhabi, according to its chief financial officer. ADPC has appointed the National Bank of Abu Dhabi as a financial advisor to draw up a long-term financial strategy. Arrangers for the bond have yet to be appointed.
