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Dolphin evaluating bids for gas pipeline

ABU DHABI — Dolphin Energy Limited is in the process of finalising the evaluation of tenders for the construction contract of its new $200 million Taweelah to Fujairah Gas Pipeline (TFP).

The energy company received five bids from international construction companies of which three are within a competitive range.The bidders include Consolidated Contractors International (CCC), Greece; Stroytransgaz (STG) of Russia and Saipem/Snamprogetti of Italy. The award is expected to be finalised by August 1, 2008.

MerchantBridge arranges UBS Saudi deal

DUBAI — Following a UBS statement announcing it would set up operations in the Kingdom of Saudi Arabia, MerchantBridge confirms it acted as arranger to the deal, which allows the global investment bank to expand significantly its Middle East activities. Eric le Blan, Partner at MerchantBridge, has been appointed to the Board of Directors of the newly-created entity, UBS Saudi Arabia. MerchantBridge specialises in originating, structuring, executing and closing private equity and direct investment transactions.

DGCX records new high of 14,066 contracts

DUBAI — Total trading volumes on Dubai Gold and Commodities Exchange (DGCX), the region's leading commodities derivatives exchange, touched a record new high of 14,066 contracts on Friday July 11th registering the exchange's highest overall daily value of above $978 million.

The recently launched and highly successful crude oil contract, the West Texas Intermediate (WTI), set new records with 3,871 contracts traded equivalent to over $562 million, the highest daily WTI value.

Gold volumes reached 8,274 contracts recording the highest daily Gold value of over $253 million.

Considering the price escalation in major commodities, the trading volumes on DGCX are set to increase even further in the coming months.

Catch brings online buzz marketing to Middle East

DUBAI — Catch, a Dubai-based independent digital agency, has teamed up with a global leader in buzz marketing to bring first-of-a-kind online marketing tools to the Middle East.

The strategic partnership between Catch and international agency VanksenCulture-Buzz will focus on tailoring and refining VanksenCulture-Buzz's proprietary word-of-mouth marketing platforms and strategies to meet the needs of regional markets. These platforms include Legitiname, the leading global provider of online brand management solutions, and BuzzParadise, an innovative technique to generate online recommendation through blogger engagement.

Jumbo, Polaris tie-up to offer retail product

DUBAI — Jumbo Electronics, has entered into an agreement with PRIL (Polaris Retail Infotech Limited), to distribute an exclusive new product — Retail Excel — that is targeted specifically at the independent retail market.

Polaris Retail Infotech Excel is an internationally renowned provider of end-to-end solutions across retail industry verticals, offering products and services, consulting and outsourcing that address a range of needs of retailers including building efficient check-out systems, Merchandise and Planning Systems, Supply Chain Management Systems to specialised offerings like e-tailing. Under the deal, Jumbo Electronics has been appointed a Value Added Distributor for the GCC region for PRIL Retail Excel.