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Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

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Total income rose by 12 percent in the same period.

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Sustainable industries key driver of RAK economy

RAK Ruler Sheikh Saud bin Saqr Al Qasimi visits the U-PAK facility of the Kuwait Packaging Materials Manufacturing Company in the Ras Al Khaimah Economic Zone. (WAM)
  • Ras Al Khaimah's economic flexibility has enabled it to adopt sustainable plans that will enhance its competitiveness, says its ruler Sheikh Saud bin Saqr Al Qasimi
  • He emphasizes the importance of promoting the culture of sustainability in all sectors, calls sustainable industrial sector a crucial driver of the national economy

RAS AL KHAIMAH, UAE — The sustainable industrial sector is a key driver of the national economy and the growing investments in this sector are in line with the emirate’s vision to create an attractive business environment, said Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah.

He made this statement while visiting the U-PAK facility of the Kuwait Packaging Materials Manufacturing Company, which specializes in producing high-quality and custom food packaging, located in the Ras Al Khaimah Economic Zone (RAKEZ) in Al Hamra.

“Ras Al Khaimah has adopted a clear long-term strategy based on establishing a balanced multi-resource economy,” he added, noting that the emirate’s economic flexibility has enabled it to adopt sustainable plans that will enhance its competitiveness.

During his visit, Sheikh Saud, accompanied by Sheikh Ahmed bin Saud bin Saqr Al Qasimi, Chairman of the Public Services Department in Ras Al Khaimah, witnessed the expansion of the facility’s new production line for high-quality solutions based on sustainability and solar power.

Sheikh Saud highlighted the emirate’s keenness to promote the culture of sustainability in all economic sectors by supporting and encouraging the transition to a more sustainable and flexible business model.

He then explored the facility’s manufacturing sections and the latest technologies used to expand the company’s products, which are in line with the best excellence and sustainability standards, through the use of environmentally-friendly packaging solutions.