YANBU, 27 November 2007 — Dr. Oqaily Khawaji, director general of the Yanbu division of the Royal Commission for Jubail and Yanbu (RCJY), yesterday signed a SR5 million contract for the maintenance and services of RCJY’s guest houses at the Yanbu industrial city with the Eilaf Trading and Contracting Company. The Eilaf Company would be responsible for the operation of the guest houses and related services over a period of three years. (Muhammad Al-Homaid)
DP World Stocks Listed on DIFX
DUBAI, 27 November 2007 — DP World stocks were listed yesterday on the Dubai International Financial Exchange (DIFX) in the Middle East’s largest initial public offering (IPO) valued at $4.96 billion. It is the first IPO to list exclusively on the DIFX, the region’s international exchange, and the offering to a wide range of institutional and retail investors was oversubscribed more than 15 times. It is the first listing on the DIFX by a UAE company. (K.T. Abdurabb)
Pharma World Facility at JAFZA
DUBAI, 27 November 2007 — Newly formed pan-GCC pharmaceutical storage and distribution firm, Pharma World Holdings, began work on a state-of-the-art facility at JAFZA free zone in Jebel Ali. The firm acquired the 10,000-square meter piece of land at JAFZA earlier this year, where it will establish a 6,000 square meter warehouse by mid-2008.
