Aviation Boeing 777X delay ‘highly expensive for us’, says Emirates Planemaker Boeing’s announcement of more delays in the delivery of its 777X aircraft to customers has had a “significant and highly expensive” impact on Emirates’ fleet programme, the Dubai carrier said this week. Emirates has already spent an extra $3 billion for a massive cabin refurbishment programme on 191 of its existing planes, 110 A380 […] October 15, 2024
Transport Financing being finalised for Riyadh-Jeddah railway line Saudi Arabia Railways hopes to finalise financing for its “Landbridge” project linking the east and west of the country within months, an official said this week. “It will cost at least $7 billion, it depends on the budget. If the budget’s available then we will start building, it will be finished before 2030,” Mesfer Alyami, […] October 15, 2024
Transport Plans agreed for Dubai’s skyborne transport system Dubai’s latest transport initiative aims to move people around the city at speeds of up to 120 kilometres an hour, with the intention of automating a quarter of all trips by 2030 and removing thousands of cars from the roads in the process. Plans for Dubai’s Suspended Transport Systems Project were approved earlier this month […] October 15, 2024
Logistics Red Sea crisis boosts Saudi air cargos by 50% Attacks on shipping in the Red Sea by Houthi rebels have resulted in more than a 50 percent rise in air cargo shipments to Saudi Arabia. The country’s airports are expected to process more than a million tons of air cargo in 2024 for the first time ever. A total of 1.2 million tons is […] October 15, 2024
Logistics Saudi special logistics zone signs deals to stimulate growth Saudi Arabia’s Special Integrated Logistics Zone Company (SILZ) has signed three memoranda of understanding (MoUs) to develop ‘Riyadh Integrated’, the country’s first special logistics zone. The company hopes the MoUs, signed during the inaugural Global Logistics Forum in Riyadh, will stimulate industrial growth, economic diversification and job creation. The first agreement was signed with […] October 15, 2024
Trade Saudi Arabia to establish economic zone with China King Salman International Airport Development Company (KSIADC) has signed an agreement with EWPartners, an investment company backed by Saudi Arabia’s Public Investment Fund, to establish a special economic zone to increase trade with China. The KSA-Sino Logistics Zone will be located at the King Salman International Airport in Riyadh, which is expected to be one of […] October 14, 2024
Aviation Saudia prepares to launch electric jet service Saudia Airlines’ electric jet plane is the first step towards zero-carbon commercial flights in medium-sized planes, according to its German manufacturer Lilium. Daniel Wiegand, co-founder and chief engineer for innovation at Lilium, said both parties were looking beyond the initial sale of 50 Lilium jets, which Saudia bought for at least $7 million each, with […] October 14, 2024
Transport Turkish contractor to build Uganda-Kenya rail link Turkish construction company Yapi Merkezi has signed a deal with the Ugandan government to build a rail line linking Uganda to Kenya, Ugandan officials announced Monday. Yapi Merkezi will build 272km of a planned 1,700km electric line in a contract worth $3 billion. Construction will start in November, Uganda’s Standard Gauge Railway project coordinator, Perez […] October 14, 2024
Logistics $266bn logistics hub spend starts in Saudi Arabia The first phase of a planned $266 billion budget to turn Saudi Arabia into a global logistics hub has already “drastically” reduced carbon emissions, a government minister has revealed. “The national transport and logistics strategy launched in mid-2021 is set to invest more than a trillion riyals [$266 billion] by 2030, of which 200 billion […] October 14, 2024
Transport Private jets and yachts take passengers fleeing Lebanon People trying to flee the escalating conflict in Lebanon are turning to expensive private bus, yacht and jet operators as an increased number of airlines cancel flights. “If Beirut’s airport is closed due to the ongoing conflict, don’t worry,” reads one of the many such adverts that have inundated Lebanese social media. “Our luxury yachts […] October 14, 2024
Infrastructure Giza mega station opening drives Egypt’s rail investments The first passenger train arrived on Sunday at the new Upper Egypt Railway Station in Bashteel, Giza, as the country invests in developing its ageing rail network. Egypt’s President Abdel Fattah El Sisi opened the station on Saturday along with 19 other transport infrastructure projects across the country. The new station is designed to serve […] October 14, 2024
Logistics UK minister confirms DP World to invest in London Gateway Dubai’s DP World will invest £1 billion ($1.3 billion) in its London Gateway port, business minister Jonathan Reynolds has confirmed. “The investment is going ahead,” business minister Jonathan Reynolds told Sky News after media reports suggested that DP World executives had threatened to boycott the International Investment Summit on October 14 and refrain from investing in […] October 14, 2024
Analysis Real Estate Real estate picks up in Saudi Arabia’s Eastern Province The Gulf city of Dammam and the Eastern Province that surrounds it have long trailed behind Riyadh, Jeddah and Mecca in the push for glitzy development, but real estate activity is picking up across the hospitality, residential and industrial sectors. The province, which has deep pockets thanks to its importance to the Saudi energy industry, […] October 14, 2024
Aviation Kuwait Airways 2023 revenue soars 16% to $1bn Increased passenger volume and flight operations increased revenues at Kuwait Airways by 16 percent in 2023. The topline reached KD335 million ($1.1 billion) last year, as the number of flights soared 26 percent year on year to 32,839, the state-run Kuwait News Agency reported, citing chairman Abdulmohsen Alfagaan. No details were shared on profit or […] October 11, 2024
Transport Hafeet Rail secures $1.5bn loan for UAE-Oman rail link Hafeet Rail, formerly Oman and Etihad Rail Company, has secured funding of $1.5 billion from a consortium of regional and global banks for the 238km railway network. The $2.5 billion Omani-Emirati railway network project is the first link in a unified regional transport and logistics chain and will link five major ports and various industrial and free […] October 10, 2024
Finance Transport and finance help Bahrain overcome oil slump Bahrain’s economy expanded by 1.3 percent in the second quarter of 2024, thanks to double-digit growth in some of its non-oil sectors. The ministry of finance and national economy said 2.8 percent growth in its non-oil sector, which accounted for 85 percent of gross domestic product in Q2, helped to offset a 6.7 percent decline […] October 9, 2024
Business of Sport Riyadh Air signs stadium naming deal with Atlético Madrid The new Saudi Arabian carrier Riyadh Air has agreed a deal with the Spanish football club Atlético Madrid to rename the team’s stadium after the Gulf state airline. Atlético Madrid’s stadium, the Estadio Metropolitano, opened in 2017, will now be called the Riyadh Air Metropolitano. The stadium sponsorship deal is scheduled to run until 2033, […] October 9, 2024
Trade China files trade complaint against Turkey over EV tariffs Beijing has lodged a trade dispute complaint against Turkey at the World Trade Organisation over Ankara’s efforts to stem a potential tide of imported Chinese electric vehicles. China’s launching the first stage of the dispute mechanism (termed a request for consultations) comes more than two years after Turkey first imposed tariffs on Chinese made-EVs, with […] October 9, 2024
Transport Rise in direct flights to Saudi Arabia as 12 airlines start services A dozen foreign airlines launched direct flights to Saudi Arabia in the first 10 months of 2024. In comparison, the global average is only two to four foreign carriers entering new markets annually, Air Connectivity Programme CEO Majid Khan told the state-backed Saudi News Agency. “This growth has helped increase inbound tourism and air traffic,” […] October 9, 2024
Transport Lucid beats latest delivery expectations Saudi-backed US luxury electric vehicle maker Lucid has exceeded market expectations for its third quarter, delivering 24 percent more cars than had been forecast. Analysts cited discounts and more favourable finance options as reasons for the sharp increase. Lucid delivered 2,781 vehicles in Q3, ahead of estimates of 2,242, according to analysts polled by Visible […] October 8, 2024
Aviation Conflict risk leads Gulf airlines to cancel regional routes Gulf airlines are among airlines that have cancelled and rerouted flights across the Middle East as the conflict between Iran and Israel escalates. They are avoiding Iranian airspace and many have cancelled routes entirely following a major missile attack by Iran against Israel on Tuesday. Immediately after the attacks about 80 flights operated by carriers […] October 4, 2024
Opinion Food & Drink Our love for cheap imported food is costing us dearly The UAE is too dependent on food imports while about a third, worth $4 billion, is wasted October 4, 2024
