Aviation Dubai Airports ups 2022 annual passenger forecast to 64.3m Dubai Airports has increased its annual forecast for passenger traffic at Dubai International (DXB) to 64.3 million following its strong performance in the third quarter and the prospects of a stronger surge in the offing in the final three months of 2022, the UAE state-owned WAM news agency reported. Average monthly traffic exceeded the six-million […] November 23, 2022
Opinion Aviation Fly the environment-friendly skies Middle East airlines have led the way in showing how Gulf economies can diversify. Now they have to become pioneers of net-zero aviation too November 21, 2022
Logistics AD Ports acquires Spain’s logistics firm Noatum for $681m State-owned AD Ports Group has fully acquired Noatum, a Spain-based integrated logistics company, for AED 2.5 billion ($680.62 million), UAE’s news agency WAM reported. The acquisition will be fully funded through a new acquisition loan. The UAE-based operator of industrial cities and free zones plans to create a global logistics brand, merging its existing logistics […] November 21, 2022
Logistics Saudi’s shortage of warehouse supply sees rents surge 22% Warehouse rents in Saudi Arabia are soaring thanks to expanding manufacturing and retail activity in the kingdom. The International Monetary Fund in August predicted Saudi Arabia would be one of the world’s fastest growing economies in 2022, expanding 7.6 percent, its biggest increase in a decade. This boom is being felt in the warehousing sector. […] November 15, 2022
Aviation Qatar airport’s final expansion phase to start in early 2023 The final phase of Hamad International Airport (HIA) expansion will start early next year, Qatar Tribune newspaper reported, citing Qatar Airways group chief executive Akbar Al Baker. The expansion will increase the airport’s annual capacity to up to 75 million passengers. Phase A of HIA’s expansion plans is now ready for the much-anticipated FIFA World […] November 13, 2022
Logistics Noon to build UAE’s largest e-commerce fulfilment centre E-commerce platform Noon.com will build the UAE’s largest fulfilment centre in Abu Dhabi as part of an anchor investment into the emirate’s fast-growing e-commerce space, the UAE state-owned WAM news agency reported. The 252,000 square metres facility will be developed in collaboration with Abu Dhabi Investment Office (ADIO), fuelling the next phase of growth in […] November 11, 2022
Aviation Emirates confirms order of five new Boeing jets worth $1.7bn Dubai-based Emirates has announced a firm order for five new Boeing 777-200LR freighter aircraft worth over $1.7 billion at list prices. Two units will be delivered in 2024, while the remaining three units in 2025, the airline said in a statement. The agreement takes the airline’s total order book to 200 wide-body aircraft. Sheikh Ahmed […] November 8, 2022
Logistics Apple heads list of key investors in Saudi’s cargo logistics zone Apple will be one of the global anchor investors in Saudi Arabia’s special logistics zone – part of the kingdom’s plan to more than quadruple the amount of cargo processed through its airports by 2030. The Special Integrated Logistics Zone was launched on Monday by Saudi Arabia’s General Authority for Civil Aviation (GACA). The zone […] November 1, 2022
Transport Invygo, Gulf’s largest car subscription startup, raises $10m Invygo, the Gulf’s first car subscription operator, has secured $10 million in new funding, endorsing a trend for businesses to opt for renting over ownership. Headquartered in Saudi Arabia and the UAE, Invygo is an app-based service that allows people to choose, drive and swap cars. Founded in 2019, the new funding was led by […] October 31, 2022
Logistics Outlook for global trade remains uncertain, says DP World boss The chairman and CEO of DP World said on Tuesday that the outlook for global trade remains uncertain as the port operator posted a small increase in container volumes. Growth in the third quarter of 2022 was primarily driven by a solid performance across the company’s Asia Pacific, Americas and Australia terminal. Its flagship port […] October 25, 2022
Aviation Qatar Airways wins UK court battle with aircraft seat maker A British court has ruled in favour of Qatar Airways in a dispute between the Gulf carrier and an Italian aircraft seat manufacturer. Sezze-based Optimares had sued Qatar Airways after the airline terminated a contract to buy made-to-order business and economy class seats for some of the Doha-based airline’s Boeing and Airbus aircraft. But a […] October 25, 2022
Logistics Saudi Arabia eyes $10bn in supply chain investment Saudi Arabia’s crown prince on Sunday launched an initiative to attract investments in supply chains to and from the kingdom, with an aim of raising an initial SAR 40 billion ($10.64 billion). The initiative by Prince Mohammed bin Salman will include allocating about SAR 10 billion in incentives for supply chain investors, state news agency […] October 24, 2022
Aviation Etihad names new CEO as airline confirms Tony Douglas exit Etihad Aviation Group named Antonoaldo Neves its new CEO today after confirming the departure of Tony Douglas, who is understood to be taking the helm at a new airline in Saudi Arabia. Neves was announced as group CEO while Douglas will serve during his transition period as an advisor to the board of ADQ Aviation […] October 19, 2022
Logistics Aramex makes largest ever acquisition in $265m US deal Aramex has completed the acquisition of Access USA Shipping, a platform that enables cross-border e-commerce, for $265 million. The transaction marks the logistics company’s largest acquisition to date, it said in a filing on Dubai Financial Market. Aramex said Access USA Shipping, which is better known as MyUS, will be integrated into their business, operating […] October 19, 2022
Transport UK firm in talks in Dubai to launch high-speed, electric ferries Belfast-based Artemis Technologies is in talks to with Dubai authorities to launch its electric, high-speed passenger ferries in the emirate, part of the UAE government’s AED600 billion ($163bn) Net Zero 2050 Strategy. The Northern Irish company’s marine vehicles, which are 24 metres in length and accommodate up to 150 passengers, can achieve a top speed […] October 16, 2022
Transport Etihad Rail finishes laying tracks in Sharjah and Ras Al Khaimah Etihad Rail, the developer and operator of the UAE national rail network, has completed the tracklaying works of the main line in Sharjah and Ras Al Khaimah, according to WAM, the UAE state-owned news agency. The work is part of the last package of stage two of the project. The main line extends from Ghuweifat, […] October 13, 2022
Transport Mexican used-car startup to invest $130m expanding to the Gulf Mexican online used-car dealership Kavak has expanded to the United Arab Emirates (UAE), Oman and Saudi Arabia, boosting its presence in emerging-market countries, the firm’s chief executive, Carlos Garcia, told Reuters on Tuesday. Kavak plans to invest $130 million over the next two years in the three Middle-Eastern countries, which are set to represent seven […] October 13, 2022
Analysis Aviation Flight bookings soar as Gulf benefits from Qatar 2022 fever Flight bookings to Qatar from the UAE and 31 countries competing in the FIFA World Cup are currently 10 times the volume of pre-pandemic levels, according to new data. The latest analysis by UK-based ForwardKeys shows that the UAE will perform most strongly during the Qatar 2022 World Cup period in November and December, where […] October 11, 2022
Aviation Irish firm bags $266m operations contract for Saudi Red Sea airport The Red Sea Development Company (TRSDC) has appointed Dublin-based daa International as the operator of Red Sea International, which will be the region’s first carbon-neutral airport. The developer of mega projects – Red Sea Project and Amaala – signed a SAR 1 billion ($266 million) deal with the Irish company for operations and general maintenance […] October 11, 2022
Saudi Arabia signs deals worth $171m to expand Jeddah port Saudi Ports Authority (Mawani) has signed two contracts worth 642 million riyals ($171 million) with major contractors to deepen berths and build new ones at Jeddah Islamic Port, according to the state-owned Saudi Press Agency. The contract with Modern Building Leaders, in association with Huta Hegerfeld Saudia, will deepen harbour approach channels, turning basins, waterways […] October 10, 2022
Transport Qatar gives new electric buses demo run before World Cup Qatar’s public transport provider Mowasalat (Karwa) added 90 new electric buses to its fleet this month. There are also plans to make all Karwa taxis around Doha fully electric as part of its efforts to reduce carbon emissions to meet Qatar’s Vision 2030 goals. Working in collaboration with the Ministry of Transport and Qatar Rail, […] October 5, 2022
Tourism Sales of one-way tickets to Dubai double as Russians flee call-up The number of Russians booking one-way tickets to Dubai doubled in a week after President Vladimir Putin announced a partial mobilisation to fight in Ukraine, flight data has revealed. Putin’s television address on September 21 prompted a spike in demand and web searches for flights out of the country. Travel analytics firm ForwardKeys has found […] October 4, 2022
