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Drake & Scull bags Dh470m utility project in Abu Dhabi

Drake & Scull Water and Power, a wholly owned subsidiary of Drake & Scull International, or DSI, a regional market leader in integrated design, engineering and construction disciplines of Civil Contracting Mechanical, Electrical and Plumbing (MEP), and Water and Power, secured a Dh470 million subcontract for the design review, procurement & construction of MEP & Instrumentation works for the Strategic Tunnel Enhancement Programme, or STEP, pumping station in Abu Dhabi.

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Asian stock markets stall after gains

Asian stocks stalled Thursday as profit taking overtook earlier gains powered by the Nasdaq’s biggest jump this year and the U.S. Federal Reserve’s prediction of modest growth for the world’s No. 1 economy.

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DAE income surges 110%

Dubai Aerospace Enterprise, or DAE, on Tuesday said it recorded net income, excluding non-recurring items, of $81.3 million, or Dh298.7 million, for full year 2011, registering an increase of 110 per cent over the net income, excluding non-recurring items, of $38.8 million, or Dh142.6 million, for full year 2010.

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