Sulja Bros. Building Supplies, Ltd (SLJB)

[S.A.G.]

Dubai records Dh662.8m in land transactions
Compiled from staff reports



Dubai: The total value of land transactions in Dubai last three days reached Dh662.8 million, including sales exceeding Dh279 million while the total value of mortgages during the period was Dh383.81 million, according to the Land Department. A total of 35 sale transactions were registered with the Department by the end of the week, the most valuable of which was a plot in Marsa Dubai that was sold for Dh71.436 million.

Utilities: British firm seeks stake in Fujairah-2

Dubai: British energy generator International Power is seeking a stake of up to 40 per cent in Fujairah -2, a $3 billion power and water project, a company official said yesterday. The plant is set to become the biggest new project in the UAE. International Power is in talks with other companies about sharing the stake in the project.

First phase of EPIMS launched

Dubai: As per the vision of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to create a knowledge-based e-Society, the information technology department of Dubai Municipality has launched the first phase of the Engineering Projects Information Management System (EPIMS) within the municipality. EPIMS facilitates more effective internal communication between all departments.

Retail: Hamdan patronises family award

Dubai: Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, chairman of the Dubai Executive Council and Chairman of the Board of Mohammad Bin Rashid Establishment for Young Business Leaders, is the patron of the seven-year-old Ideal Arab Mother and Family awards honouring Arab mothers and families worldwide. Shaikh Hamdan is highly impressed with the concept of the award that honours the unflinching sacrifices of the mother and a dedicated family system. The seventh edition of the award will be held during DSF 2006-07.

Three IPOs get nod in Saudi Arabia

Dubai: Saudi Arabia's financial authority approved three initial public offerings, the country's bourse said. Al Babtain Power and Telecommunications will sell 8.1 million shares, or 30 per cent, to the public from November 4-8, the bourse said yesterday in a statement. Advanced Polyprop-ylene Co. will sell 66.4 million shares, while Al Abdullatif Industrial Investment Co. will offer 19.5 million shares.