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GNH signs $40m charter dealDubai: Gulf Navigation Holding (GNH), an oil and chemical carrier, and ST Shipping and Trading, Switzerland-based Glencore's shipping arm, one of the largest oil trading houses in the world, have signed a time charter agreement for three ships at Dh145 million ($40m). Under the terms of the agreement, GNH will time-charter two ships to ST Shipping and Trading for up to two years under long-term fixed rate employment, and a third at a floating market rate with a fixed minimum charter rate. The vessels are double hull, 48,000 metric tones deadweight each and have liquid capacity of about 50,000 cu m. The vessels are capable of speeds up to 15 knots. Ghazi Al Ibrahim, managing director and chief executive officer (CEO) of Gulf Navigation Holding said: "The confidence Glencore has placed in us through this deal reflects the credibility of our operations as a global operator." Gulf Navigation is now amid an initial public offering of Dh910m, to list on the Dubai Financial Market. read more. Dubai Investments Park constructing 38,000 sq meter sports facility for tenantsDubai Investments Park (DIP), which is a wholly-owned subsidiary of Dubai Investments, has announced that it is constructing a fully-equipped cricket and football pitch within the Park in cooperation with Seven Seas Shipchandlers LLC, for tenants of the Park and for labourers staying in the labour accommodation in DIP. . read more. Dubai Bank continues Emiratisation recruitment and training ...A group of ten UAE graduate Nationals were recruited at Dubai Bank through its National recruitment program, Ar-Ruwwad. The group will be placed on a one year training and development program that will prepare them for careers in banking. Following HH Sheikh Mohammed bin Rashid Al Makhtoums Directive on Nationalization, Dubai Bank introduced its National recruitment program a year ago. Dubai Bank has already completed the training for its first group of trainees that have graduated and are now working in the Banks various business divisions.The training model to be used for UAE National development will consist of a combination of classroom and on-the-job based training interventions to equip participants with knowledge and skills required for a banking career.Mr. Abdul Aziz Al Muhairi, CEO of Dubai Bank recently met the new recruits and encouraged them to be diligent, and to make maximum benefit of this training opportunity. read more. SAAG RR Infra bags Rs 3.18 cr order from DegremontMumbai: Construction company SAAG RR Infra Ltd has bagged an order worth Rs 3.18 crore from water treatment company Degremont Ltd for undertaking construction work at a water treatment plant in Karnataka.The order entails carrying out civil construction works for a 100 MLD (million litres per day) water treatment plant, which is on the premises of an existing 270 MLD plant at T K Halli, Karnataka.The company informed the Bombay Stock Exchange that it would commence work from August 3 and complete it within four months.Shares of the company were up 7.25 per cent, trading at Rs 33.30 on the BSE. . read more. Bahrain Blaze Survivors to Sue Construction FirmBahrain, Aug 5: The survivors of Sundays labour-camp fire in Bahrain, in which 17 Indian workers lost their lives and nine were injured, have decided to file a class action civil suit against their employer, the Royal Tower Construction Company. The survivors have refused to go back to work unless the company improves their living conditions, according to a report in the Gulf Daily News newspaper. The case would be in addition to criminal charges that are expected to be pressed against the company, the report quoted Indias Ambassador to Bahrain Balkrishna Shetty as saying. The workers case could lead to payout of hundreds of thousands of Bahraini dinars by the company to the workers, he said. Investigations are now under way by the public prosecutor to ascertain whether there was criminal intent and charges are expected to be filed in a few days, Shetty told a press conference. read more. Expat secretaries to be allowed new positionsDubai: Expatriate secretaries will be able to continue working for their employers as long as the title and nature of their positions are adjusted, said a senior labour official. Dr Khalid Al Khazraji, Undersecretary of Labour, said that although secretarial positions were to be emiratised, employers were being given the option to keep their former expatriate secretaries as long as they were given alternative positions. "There is a need for flexibility in implementing the rules. The idea is to encourage companies to employ UAE nationals," he said. However, he added that secretarial positions were exclusively reserved for UAE nationals. A ministerial decision which came into effect on June 24 requires all secretarial positions to be emiratised. read more. Dubai Investments Park constructing 38,000 sq meter sports facility for tenantsDubai Investments Park (DIP), which is a wholly-owned subsidiary of Dubai Investments, has announced that it is constructing a fully-equipped cricket and football pitch within the Park in cooperation with Seven Seas Shipchandlers LLC, for tenants of the Park and for labourers staying in the labour accommodation in DIP. . read more.
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