Ashok Leyland, India's second largest commercial vehicle manufacturer, has announced plans to treble the production capacity of its bus manufacturing plant in Ras Al Khaimah. The expansion will see the plant more than triple its annual capacity to 6,000 units a year. It comes thanks to a $10 million expansion project at the plant to introduce new models including mini buses and trucks. A rise in direct and indirect employment is expected as a result of the increased capacity.
DP World appoints Ahmad Yousef Al-Hassan as CEO and MD for GCC
DP World has appointed Ahmad Yousef Al-Hassan as Chief Executive Officer and Managing Director for the GCC.
Oil prices surge to highest since 2022 at over $119 a barrel
Oil prices surged over $119 a barrel, hitting levels not seen since mid-2022, on Monday as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran.
HSBC CEO says confidence in GCC remains despite regional developments
HSBC on Monday expressed confidence in the Gulf Cooperation Council (GCC) members' economic prospects as the region and the wider Middle East brace for the economic shock from the U.S.-Israeli conflict with Iran.
Silal, National Agricultural Centre partner to boost UAE food security
Silal, an Abu Dhabi agri-food and technology company, has announced the expansion of its operations in Ras Al Khaimah in collaboration with the National Agricultural Centre.
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