Aviation Wizz Air Abu Dhabi aims for 25% business growth Low-cost carrier Wizz Air Abu Dhabi expects business to grow by 25 percent in 2024 compared to last year, driven by capacity growth. The airline has 12 aircraft based in Abu Dhabi, with plans to expand to 50 in the next four to five years, the UAE state-run Wam news agency reported, citing CEO Jozsef […] January 26, 2024
Aviation Saudi will top Gulf business travel chart, says Wego boss Business travel to and from Saudi Arabia is expected to surpass neighbouring UAE, according to the CEO and co-founder of online travel marketplace Wego. As of the start of this month, foreign companies hoping to gain access to billions of dollars worth of government contracts must have their regional headquarters in Riyadh. The regional HQ […] January 25, 2024
Aviation Saudia’s passenger traffic rises 21% to 30m in 2023 State-owned Saudi Arabian Airlines (Saudia) carried more than 30 million passengers in 2023, a 21 percent year-on-year increase on higher seat capacity and flight frequency. The national flag carrier operated 176,300 flights, a four percent rise year on year. Transit flights witnessed a growth of 77 percent in 2023 compared to 2019, the airline said in a […] January 24, 2024
Logistics Wheat shipments through Suez Canal down 40% Shipments of wheat through the Suez Canal have fallen by 40 percent year-on-year as a result of the continuing crisis in the Red Sea, the World Trade Organisation’s Wheat Dashboard shows. Major shippers are avoiding the waterway, through which 15 percent of maritime commerce passes, causing supply chain disruptions and threatening a new wave of […] January 24, 2024
Opinion Logistics Red Sea attacks could harm more than ports and shipping The Houthi strikes could have serious implications for Saudi Arabia and Egypt January 23, 2024
Opinion Logistics The Saudi ecommerce surge is transforming logistics A young, digitally savvy population is changing the way the kingdom does business January 22, 2024
Transport SUVs drive UAE car sales but motorists gear up to go green Gas-guzzling sports utility vehicles remain a popular choice for UAE motorists and outlets across the country have reported strong sales of SUVs in 2023, despite the ongoing drive to switch to more environmentally friendly alternatives. Abhinav Gupta, CEO for the Gulf region at Cars24, a global e-commerce platform for pre-owned vehicles, said that SUVs represented […] January 22, 2024
Infrastructure Saudi airports operator issues tender for Abha expansion Saudi Arabia’s state-owned airport operator has issued a tender for a new terminal at Abha International Airport in the Aseer region. The Civil Aviation Holding Company, also known as Matarat, has called for expressions of interest by the end of this month. On offer is a 30-year build-operate-transfer deal to develop and run the terminal. […] January 17, 2024
Oil & Gas Low LNG demand cushions Europe from Red Sea issues Low demand and healthy natural gas inventory levels have offset concerns over the Red Sea crisis, leaving markets cool-headed, energy experts said. Europe’s benchmark natural gas price, Dutch TTF, traded at €29.99 ($32.65) per megawatt-hour on Tuesday as industrial demand weakens and stockpiles grow, despite the cold spell. “Demand has so far disappointed, as households […] January 16, 2024
Opinion Economy Escalation risk in the Red Sea and GCC economies A military quagmire in the region could see recession return to haunt the global economy January 16, 2024
Aviation Sharjah airport passenger traffic grows 17% in 2023 Sharjah airport received 15.3 million passengers in 2023, an increase of 17.4 percent year on year, as it added new passenger routes and cargo hubs. Air traffic increased 12.5 percent to over 98,000 flight movements last year, Sharjah Airport Authority said in a statement. Additionally, the airport handled a total cargo volume of over 141,000 […] January 16, 2024
Transport Porsche sales up 11% as Red Sea strife threatens deliveries Porsche “simply couldn’t find the ships” to get its cars from Germany to customers in the Middle East last year, leaving it with “really low inventory”, the company’s regional CEO told a media sales briefing on Friday. Those supply chain issues have been resolved, Manfred Braunl told reporters, but he warned that the ongoing crisis […] January 15, 2024
Opinion Aviation Gulf aviation’s ambitious wishes for the year ahead There should be an award for the airline that gets the newest aircraft closest to planned delivery dates January 12, 2024
Opinion Trade The Red Sea: a cautionary tale The Gulf nations could use the latest shipping crisis as a stimulus to bolster food security January 12, 2024
Infrastructure DP World to invest $3bn to develop new ports in India Dubai’s DP World plans to invest $3 billion to develop new ports, terminals and economic zones in India’s western state of Gujarat over the next three years. The memorandums of understanding (MoUs) include the development of multi-purpose deep-draft ports in south and western coasts of Gujarat; special economic zones in Jamnagar and Kutch; and cargo […] January 11, 2024
Video length: 05:17 VIDEO Retail Gulf retailers absorb Red Sea shipping cost rise – for now The Red Sea shipping crisis is only a “hiccup” in the day-to-day operations of UAE retailers, and customers will not experience any price rises or product shortages in the short term, chains are saying. “We wouldn’t call it a crisis. This particular situation isn’t much different to the challenges we had when the Suez Canal […] January 9, 2024
Aviation Etihad Airways reveals plan to meet 18m passenger goal Etihad Airways, Abu Dhabi’s flagship carrier, will broaden its international reach by expanding its network of destinations and increasing flight frequencies to major global cities in 2024, in a bid to reach 18 million passengers by 2025. “The aim is to usher in a new phase of sustainable growth, underpinned by a robust strategic plan,” […] January 9, 2024
Logistics Aldar invests $272m to expand logistics business Aldar Properties, Abu Dhabi’s largest developer, will invest AED 1 billion ($272.27 million) to expand its logistics real estate business in Abu Dhabi and Dubai. The investment includes acquiring operational assets and the development of ready-to-lease and build-to-suit options due to strong demand for Grade A logistics facilities. The move will increase Aldar’s gross leasable […] January 9, 2024
Manufacturing Dubai EV maker pulls out of $500m Chinese deal Dubai’s electric vehicle maker NWTN has pulled out of a deal to invest $500 million in Evergrande, a Chinese EV manufacturer. NWTN, which operates an electric vehicle assembly facility in Abu Dhabi, said it has terminated plans to buy 27.5 percent of the shares of China Evergrande New Energy Vehicle Group. Evergrande was established in 2019 […] January 9, 2024
Transport Alstom agrees $550m deal for Saudi battery tram The French rolling stock manufacturer Alstom has signed a contract worth more than €500 million ($547 million) to build a battery-powered tram system in the Saudi tourist destination AlUla. The company’s deal with the Royal Commission for AlUla will result in the world’s longest tram system without an overhead electrical line. The system will have […] January 8, 2024
Food & Drink Vegan meals take off on Emirates Dubai’s Emirates reported a 40 percent increase in demand for vegan meals across its network of 140 routes in 2023, and has plans to add more plant-based catering options in 2024. The airline served 450,000 plant-based meals on board last year, up from 280,000 in 2022. The biggest rise in demand was on routes to […] January 5, 2024
Transport Suez shipping traffic drops 20% as Houthi attacks continue Shipping traffic through the Suez Canal has dropped by as much as one-fifth in the last two weeks as Yemeni Houthis continue to target vessels in the Red Sea. Statistics from the International Monetary Fund’s (IMF) PortWatch platform revealed a 20 percent drop in ships using the Suez Canal route between December 24 and January […] January 5, 2024
