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SIC awards Dh100 million 33kV power plants contract to GECO

DUBAI — Sharjah Investment Center (SIC) has awarded a Dh100 million contract to GECO for the supply and installation of eight 33kV main power stations over a period of 14 months, to supply 11kV of power to all the project's plots.

Dr Omar Al Mashaabi, Development Manager of SIC, and Ali Rizvi, GECO's General Manager, signed the agreement.

Nakheel announces Balducci’s partnership

DUBAI — Nakheel announced on Monday a partnership with US food retailer Balducci’s to open the company’s first stores in the Middle East, says a Press release.

In conjunction with Nakheel Retail, Balducci’s will open its doors for the first time later this year in Phase 1 of Dubai Mall, with a further two stores scheduled to open in key locations in Dubai to be announced at the end of the year.

In addition, Nakheel and Balducci’s plan to expand into further locations throughout the Middle East. Balducci’s is one of the largest speciality food companies in the United States. The stores will be operated by Nakheel Retail Food & Beverage.

Takaful House debuts on Dubai Financial Market

DUBAI — Dubai Financial Market (DFM) announced on Monday the listing of Takaful House company, a leading provider of Takaful insurance based in the UAE.

Accroding to a Press statement, company shares began trading under the trading symbol 'DARTAKAFUL,' which will appear on DFM screens, trading systems and publications.

The listing ceremony was attended by Mohammad Musabah Al Neaimi, chairman of Takaful House company; and Nasser Al Shaali, Board Member of Dubai Financial Market, along with senior members of DFM and Takaful House company.

Intercontinental Hotels Group to develop fourth Crowne Plaza

DUBAI — InterContinental Hotels Group (IHG) has announced the signing of an agreement with the Mohammad Omar Bin Haider Group (MOBH), to develop a Crowne Plaza hotel in the International Media Production Zone, Dubai, UAE.

The signing of Crowne Plaza Dubai — International Media Production Zone (IMPZ) took place at MOBH's head office in Dubai.

Shuaa triumphs in Euromoney ME analyst research poll 2009

DUBAI — Shuaa Capital on Monday day announced that it had swept the board in the annual Euromoney Middle East Research Poll 2009 being voted first in five of the nine relevant categories and second in the remaining four.

According to a Press statement, Shuaa was ranked first in Agriculture & Food, Industrial, Retail, Transport & Logistics and Strategy and second in Banking & Finance, Real Estate, Telecoms and Economics.

Euromoney's Middle East Research poll is the such survey of equity research in the region. Institutional fund managers were polled by Euromoney between April and June and asked to rank the top five most respected research teams in each sector.

Insure Direct launches new web site

DUBAI — Insure Direct (Brokers), Dubai, the insurance and re-insurance broking company under Dubai World's investment arm "Istithmar World", announced on Monday the launch of its newly developed web site www.insuredirect.ae, which aims to meet the needs of its customers by providing them with online accessibility to information on its various products and services.

The web site launch is in response to the company's growing number of customers and in line with its business expansion plans. Through the highly user-friendly online platform, Insure Direct aims to make it easier for customers to contact it for services including applications for quick quotes.