Saudi Arabia has an insatiable appetite for electricity, which has turned one local business into an international giant, as Jeff Daniels learns.

Although it has to be said that not all projects have yet received their financial green light, Saudi Arabia has an impressive programme of converting its oil dollars into other forms of essential infrastructure. Billions are being spent on water desalination plants and even more on ever increasing electricity capacity.

Coca-Cola Enterprises (CCE) has today given formal approval to a deal with the Coca-Cola Company to sell back its North American bottling operations.

Since the formation of CCE in 1986, the North American bottling operations and the soft drinks business have been separate entities.

International power and automation technology group ABB intends to expand its mining interests in South Africa with the acquisition of the mine hoist related business of local manufacturer Coilmech, for an undisclosed sum.

ABB plans to incorporate the acquisition into subsidiary ABB South Africa’s process automation portfolio for customers in the mining sector.

Emirates Telecommunications Corporation, better known as Etisalat, has submitted a preliminary conditional offer to buy a 46 percent stake in Kuwaiti mobile telecommunications operator Zain, for $12 billion.

The Abu Dhabi-based Etisalat said it has offered 1.7 Kuwaiti dinars (around $6) per share for Zain, whose major shareholders include the Kuwait Investment Authority (Kuwait's sovereign wealth fund) and the conglomerate Kharafi Group.

The US economy grew marginally faster in the second quarter than previously expected, according to figures released today by the Commerce Department, but the pace of growth is still painfully slow.

Gross domestic product, the broadest measure of economic activity, was upwardly revised to an annual growth rate of 1.7 percent in the three months ending in June.

South African president Jacob Zuma told an audience in Belgium today that South Africa offers mining investors huge growth potential and proven economic and political stability.

In Antwerp for the third annual European Union-South Africa summit, Zuma said the successful hosting of the 2010 Fifa World Cup had "demonstrated to the world that we are a country that can deliver on its undertakings."

Caterpillar Inc announced plans today to expand its manufacturing presence in China with a new facility to produce four models of mini hydraulic excavators.

To meet growing customer demand in China the company will produce models in the under 8-ton range at the new facility in Wujiang. The facility will be part of Caterpillar's Building Construction Products (BCP) Division, which has manufacturing operations in the United States, Japan, Brazil and the United Kingdom.

Camco International Limited, a global developer of emission reduction and clean energy projects, has announced a joint venture agreement with Khazanah Nasional, the investment holding arm of the Government of Malaysia.

Southwest Airlines is to acquire AirTran Holdings, Inc., the parent company of AirTran Airways, for $1.4 billion in a combination of cash and shares.

Each share of AirTran common stock will be exchanged for $3.75 in cash and 0.321 shares of Southwest Airlines' common stock, subject to certain adjustments. Including the existing AirTran net indebtedness and capitalized aircraft operating leases, the transaction value is approximately $3.4 billion.