Logistics Aramco and DHL plan logistics hub in Saudi Arabia Saudi Aramco and logistics giant DHL Supply Chain have signed an agreement to develop a new procurement and logistics hub in Saudi Arabia to improve supply chain efficiency and sustainability. The hub will provide end-to-end integrated procurement and supply chain services to customers in the industrial, energy, chemical and petrochemical sectors, Aramco said in a statement. […] March 21, 2023
Manufacturing Renault’s Morocco plant set to produce hybrid cars in 2024 French carmaker Renault Group will start production of its first hybrid model, “Dacia Jogger”, at its Tangier plant in northern Morocco in the second quarter of 2024. The new production line is expected to produce up to 120,000 vehicles, Morocco World News reported. Morocco’s Trade and Industry Minister, Ryad Mezzour, said the production “opens the […] March 20, 2023
Manufacturing British manufacturing output rebounds but outlook ‘bleak’ Britain’s manufacturing output bounced back in the first three months of 2023, chiming with other measures of the economy that improved, but firms expect the sector to contract as inflationary pressures persist, a survey showed on Monday. Trade body Make UK and accountants BDO said their quarterly gauge of manufacturing output rose to +21 in […] March 20, 2023
Energy Emirates drives growth in electric vehicle adoption The UAE is known for its SUVs and supercars, but companies in the Gulf state are accelerating the drive worldwide towards electric vehicles. The number of EVs on the road globally is expected to reach 200 million by 2030, says Gustave Cordahi, principal with Strategy& Middle East. EV sales are projected to surpass those of […] March 17, 2023
Manufacturing Samsung’s new Texas chip plant cost rises above $25bn A chip plant that South Korea’s Samsung Electronics Company Limited is building in Taylor, Texas, will cost the world’s biggest memory chipmaker over $25 billion, up more than $8 billion from initial forecasts, according to three people familiar with the matter. The increase in cost is primarily due to inflation, the people said, declining to […] March 16, 2023
Manufacturing Boeing jet battle shifts to factory floor after Saudi Dreamliners win A major purchase by Saudi Arabia caps sales of almost 200 Dreamliners over the past four months, handing Boeing major industrial and political wins in lucrative widebody sales against European rival Airbus. Now the US aerospace giant will face the difficult task of producing and delivering those 787s in a time of unprecedented supply chain […] March 16, 2023
Manufacturing White House says Saudi-Boeing 787 deal to support US jobs The White House has welcomed the “landmark” deal between Saudi Arabia and the Boeing Co, saying it will support US jobs and marked a milestone in cooperation between Saudi Arabia and American industry. Two Saudi airlines agreed to buy 78 Boeing 787 Dreamliners and took options to buy another 43. The White House said it […] March 15, 2023
Energy Abu Dhabi’s Borouge to pay $650m in dividends for 2022 Abu Dhabi-listed petrochemicals company Borouge will pay a final dividend of $650 million for 2022. The payout was approved by shareholders at the annual general meeting on Monday and will be distributed in April, state-owned WAM news agency reported. The Abu Dhabi Securities Exchange-listed company has confirmed dividends of $1.3 billion in 2023. Sultan bin […] March 14, 2023
Oman to offer new mineral exploration blocks by Q1-end Oman’s ministry of energy and minerals is working on offering new mineral exploration blocks for investments in the first quarter of 2023. The ministry is currently in the final stage of negotiations with specialised companies on several concession areas, primarily focusing on developing potash ore and evaluation of lithium ore, Dr Salah bin Hafeez Al […] March 12, 2023
Agriculture Egypt to withdraw from decades-old UN grain treaty by June-end Egypt, one of the world’s largest wheat importers, has given notice it will withdraw at the end of June from a decades-old UN grains treaty, causing consternation among some other signatories to the convention. Egypt’s departure from the multinational Grains Trade Convention (GTC), which promotes market transparency to further trade cooperation, follows a period of […] March 12, 2023
Manufacturing Turkish factory activity rises in January after falling for 2 months Turkish industrial production expanded 4.5 percent year-on-year in January, more than expected, data showed on Friday, returning to growth after two months of decline due to a global economic slowdown. Industrial output expanded 1.9 percent month-on-month in January on a calendar and seasonally adjusted basis, data from the Turkish Statistical Institute showed. In a Reuters […] March 12, 2023
Manufacturing Turkey’s southeast exodus after quake puts manufacturing at risk Mehmet Alkan, a shoe-sole manufacturer in Turkey’s earthquake-hit south, doesn’t know what will become of his company after some of his 220 employees died and half fled, reflecting the difficult transformation ahead for industry in the region. Forty of his workers and some families sheltered for a while in the undamaged Alkan Taban factory in […] March 12, 2023
Energy Aramco advances $7bn South Korea petrochemicals project Saudi Aramco has broken ground on the $7 billion Shaheen petrochemical project, one of the largest integrated steam crackers in the world, in Ulsan, South Korea. The Shaheen project, announced in November 2022, is being developed by Aramco affiliate S-OIL and is considered an important part of Aramco’s regional crude-to-chemicals strategy, the oil major said […] March 10, 2023
Manufacturing 5G set to boost smartphone market value in the region Shipments of 5G smartphones to the Middle East and Africa region grew 47 percent last year, according to the latest industry data from Counterpoint Research Market Monitor. The MEA region made up an 18 percent share of the overall shipments. While globally 5G smartphone prices are dropping as a result of the availability of more […] March 9, 2023
Manufacturing UAE food group Agthia seeks to build Egypt as export hub UAE food and beverages group Agthia is considering Egypt as an export hub after making acquisitions there as part of a regional growth strategy, group CEO Alan Smith said. Agthia, majority-owned by the Abu Dhabi government through state investor ADQ, aims to be one of the Middle East’s leading players in the food industry by […] March 9, 2023
Agriculture Morocco can weather storm of fruit and vegetable shortage Recent adverse growing conditions in Morocco have caused shortages of some fruit and vegetable produce in European supermarkets, particularly in the UK, but the impact will not dent economic growth in the North African country this year, the World Bank said. British supermarkets last month introduced rationing of some popular produce as a result of […] March 8, 2023
UAE industrial giant pins future on net zero 2050 ambitions Emirates Global Aluminium (EGA) – the UAE’s largest industrial company outside those focused on oil and gas – is pinning its future on the country’s decarbonisation efforts as the global market for aluminium remains under pressure. The company said it is committed to producing aluminium more sustainably and, last year, produced 57,000 tonnes of CelestiAL […] March 8, 2023
Manufacturing Tesla readies ‘Project Juniper’ to revamp top-selling Model Y Tesla is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan. The changes to the Model Y – code-named Project Juniper – involve the exterior and interior of the electric vehicle (EV) with a target of starting production in 2024, according to two of the people, […] March 2, 2023
Tech AeroFarms: the US business growing up (and up) in the Gulf Agtech giant AeroFarms is seeding its indoor vertical farms all over the Gulf, launching significant ventures in the UAE, Saudi Arabia and Qatar. The US company is set to play a pivotal role in tackling problems of farming in the desert-climate region, which has historically imported around 90 percent of its food requirements. AeroFarms claims […] March 1, 2023
Tech Baiting the hook to develop Saudi’s aquaculture industry Aquaculture – farming in water – is the world’s fastest-growing food sector, accounting for more than half of global seafood supply. For Saudi Arabia, eager to bolster its food security and to build non-oil exports, this is an opportunity. On February 12, Arabian Agricultural Services Company (Arasco) signed an agreement with Neom Food and Cargill, […] March 1, 2023
Tech Egypt’s farmers are prepping the soil for a digital revolution Agriculture may be the world’s least digitised industry. While machine learning and artificial intelligence are transforming many areas of our lives, in many countries farming is behind the curve. “Agriculture has been slow to transform and that’s largely because it happens in rural locations and it’s also very fragmented,” said Andy Jenkinson, chief technology at Varda, […] March 1, 2023
Tech The vertical farms stacking up across the UAE Food security is a top priority in the UAE government’s development goals outlined in its National Strategy for Food Security. Political will and private sector innovation are combining, and the result is an unprecedented wave of agricultural technology initiatives that aim to improve food self-sufficiency. Across the Gulf, the vast majority of food requirements have […] March 1, 2023
