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NMC Health forays into Saudi Saudis non-oil sector shows robust growth
DUBAI: NMC Health has ex- million of equity into the This represents another The survey, sponsored by influences, the headline month low, the rate of expan-
Victor Phillip
panded into Saudi Arabia operating company. NMC major advance toward our Emirates NBD and pro- Emirates NBD Saudi Arabia sion in new work was little-
through an investment and will also provide a $9 mil- objective of developing a MUMBAI: The upturn in duced by Markit, contains Purchasing Managers Index changed from Mays five-
an acquisition, the first regional leader in the field Saudi Arabias non-oil pri- original data collected from (PMI) a composite gauge month high. Underpinning
foray into the wider Gulf for of specialist long-term vate sector was maintained a monthly survey of busi- designed to give a single-fig- new business gains were
the UAE-based health care care, said its CEO BR at a steady rate as high- ness conditions in the Saudi ure snapshot of operating stronger marketing efforts.
provider. Shetty. As well as plans to lighted by a further solid im- private sector. conditions in the non-oil Some firms also pointed to
This enabled it to raise revamp the existing facili- provement in business con- Commenting on the Emir- private sector economy the quality of their goods and
its guidance for 2017 group ties at Alkhobar-based As- ditions. ates NBD Saudi Arabia posted 54.4 in June, down services as a factor behind
EBITDA (earnings before Salama, NMC said its strat- Output and new orders PMITM, Khatija Haque, head slightly from 54.8 in May. healthy demand.
interest, tax, depreciation egy includes possible in- both rose sharply, leading of MENA Research at Emir- The latest reading Despite the expansion of
and amortisation) to $300 vestment and expansion in firms to raise their input ates NBD, said: The non-oil rounded off a second quar- total new work, exports re-
million from the previously- the central region of Saudi, buying at a marked pace. sector in Saudi Arabia is ex- ter which has seen moder- mained an area of concern
disclosed $290 million. which includes the capital, Nevertheless, the respective panding at a robust rate, de- ate growth (54.5) in line midway through 2016. New
NMC, along with other com- Riyadh. rates of expansion remained spite low oil prices, govern- with the average recorded in business from abroad fell for
panies, is tapping into sub- BR Shetty The London-listed firm subdued in the context of ment spending cuts and more 2016 to date (54.4). Never- the third successive month,
stantial growth in the sec- now has 1,135 operational historical data. Weak job recently, higher interbank theless, the improvement in having previously risen
tor as the Gulf s increas- lion two-year loan to its sub- beds across its network, creation continued to un- lending rates. business conditions re- back-to-back since the sur-
ingly wealthy population sidiary Provita, which will which is primarily in the dermine overall growth as Khatija Haque added: mained subdued compared vey began in August 2009.
becomes more susceptible manage the business. It has UAE but also includes Span- did falling exports. On the Firms appear to be increas- with the long-run series That said, the latest reduc-
to lifestyle diseases such as also acquired a 70pc stake ish fertility firm Clinica price front, input costs rose ing operating efficiency as trend (58.6). tion was only marginal.
diabetes. in As-Salama Hospital in Eugin. It generated EBITDA to the greatest extent in jobs growth remains slug- Both output and new or- Purchasing activity rose
It has taken a majority the Kingdoms Eastern Prov- of $115.9 million in the first- seven months, contributing gish even as activity and ders continued to rise sharply further in June, reflective of
stake in a new 120-bed hos- ince for $28 million, adding half of 2016, up 68.2pc over in turn to a first increase in new orders are rising. in June. However, while out- ongoing growth of the sec-
pital in Jeddah by putting $4 140 beds to its total count. same period of last year. charges since Oct last year. Adjusted for seasonal put growth eased to a 32- tor as a whole.
Energy Institute forum to focus on health JNPT starts holding yard operations
ABU DHABI: The Energy the effective management of the EI has produced safety Company, Health and Safety
NAVI MUMBAI: Jawaharlal time. Number of trips made ional parking rates have
Institutes (EI) upcoming energy production, delivery guidance for the energy sec- Executive, Qatar Shell, and
Nehru Port Trust (JNPT), by a tractor trailer in a day been offered at the yard is
event in Abu Dhabi, UAE, and use, and the efficient tor. In todays world, there are the United Nations Environ-
Indias No.1 Container Port, Rs 60 & Rs 70 for every 8
will focus on health and management of operations. more technologies and com- ment Programme.
has commenced the hold- hours stay for 20 and 40
safety issues in the energy This, combined with an in- plex processes than ever be- The event will cover
ing yard operations in a six- containers respectively.
industry as well as the in- creased emphasis on deliv- fore and the need for relevant communicating HSE issues,
hectare land at JNPCT TTs will be allowed to
creased emphasis on envi- ering environmental targets and up-to-date best practice provide responses to key
(Jawaharlal Nehru Port move to terminal gate only
ronment. to improve widespread is ever growing. This event, challenges, identify im-
Container Terminal) ap- after receiving required
The EIs Middle East sustainability, provides the organised in association with provements and enhance
proach roads to further ease clearance of all the docu-
HSE Forum Effective man- focus for this event, said a EI Middle East, provides a competency of industry per-
out congestion and stream- ments or proper ticket clear-
agement of health, safety, statement. platform to discuss health, sonnel within the Middle
line the traffic to the termi- ing. TTs coming directly
environment and Over three days, partici- safety, environment and East and the rest of the
nal. from CFSs with all clear
sustainability, will be held pants will benefit from shar- sustainability in a more ho- world. The event also will
This holding yard, documents will be allowed
from October 17 to 19. ing good practice to help listic manner. The forum will include technical work-
which has been developed directly to terminal gate
Engineer Suhail Moha- improve the safety perfor- provide opportunities for shops that will explore a
within the centralised park- and TTs, which do not have
med Faraj Al Mazrouei, UAE mance of organisations, fos- open discussion and, most particular topic in more de-
ing plaza, will be utilised clear documents including
Minister of Energy, will give ter a healthy and accident- importantly, the chance to tail. These will be based on
for parking Tractor Trailers PIN number, will be di-
the keynote address at the free work culture, and en- exchange ideas with the in- EI technical publications
(TT) awaiting the final has also increased. verted to holding yard.
event. sure a sustainable environ- ternational HSE community. and, in a participative man-
documentation. 600 TTs can be accom- The undocumented fac-
The global energy sector ment, it said. The conference ner, the workshops will fo-
Commencement of modated in this holding tory stuffed containers
operates within a hazardous Dr Mark Scanlon, HSE programme will feature, cus on practical applica-
holding yard at JNPCT is al- area at one time. The yard which generally park on
environment. Health and team manager, Energy Insti- among others, speakers from tions, operational experi-
ready showing results and operation ensures free roads approaching to port
safety is therefore crucial to tute, says: For over 75 years, Bapco, Emirates National Oil ence and case studies.
has reduced the congestion movement at the JNPCT ap- area causing traffic conges-