EXCLUSIVE Logistics Shipping industry calls for ‘fair access’ to clean fuel Access to clean fuel is the biggest obstacle to the global shipping industry achieving its decarbonisation goals, but the Gulf region could play a key role in addressing this, according to the head of the International Chamber of Shipping (ICS). The high-emitting shipping sector has historically burned “the kind of fuel nobody else wants” – […] November 27, 2023
Transport Dubai’s Metro Blue Line to be operational in 2029 The Dubai government has approved the expansion of the world’s largest driverless metro line, expecting a surge in the resident population to more than one million under its 2040 urban master plan. The 30-km Metro Blue Line project, approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Dubai Ruler, will have […] November 26, 2023
Transport Over 100 nations agree to 5% lower emissions by 2030 A meeting of more than 100 countries on Friday agreed to an interim goal for emissions reductions from global aviation by 2030 by using less-polluting fuels, but China, Russia and some others aired concerns about the impact on their economies. The goal, which came after five days of UN-led talks in Dubai, called for five […] November 26, 2023
Analysis Aviation Mena’s use of green jet fuel ‘needs incentives’ to take off On Wednesday morning, an Emirates A380 took off from Dubai International Airport and headed down the coastline. It’s a familiar route, but this was something new: one of the Airbus’s four engines was 100 percent powered by sustainable aviation fuel. The 45-minute test flight came in a week of advances for sustainable fuels, known as […] November 23, 2023
Renewable Energy DP World cuts carbon emissions by 50% in UAE DP World cut carbon emissions from its UAE operations by nearly 50 percent in 2023 using renewable energy generated by the Dubai Electricity and Water Authority (Dewa). The Dubai utility provider has issued more than 200,000 international renewable energy certificates (I-RECs) to DP World so far this year, the global ports operator said in a […] November 21, 2023
Finance Dubai Taxi’s market value forecast at $1.25bn on listing Dubai Taxi Company, a unit of the state-owned Roads and Transport Authority, has set the price range for its initial public offering (IPO) at AED1.80 to AED1.85 ($0.49 to $ 0.50) per share. This gives a market capitalisation of between AED4.5 billion and AED4.6 billion at the time of listing. The subscription period for retail […] November 21, 2023
Aviation French and Italian firms to test flying taxis in Abu Dhabi Abu Dhabi Investment Office (ADIO), an investment arm of the Abu Dhabi government, has signed agreements with France’s Ascendence and Italy’s Manta Aircraft to set up operations in the emirate’s smart and autonomous vehicles industry (Savi) cluster. The agreements were signed at the recently-concluded Dubai Airshow, the UAE state-run Wam news agency reported. Located in […] November 20, 2023
Transport Mawani to build $130m logistics park in Jeddah Saudi Ports Authority, known as Mawani, and CMA CGM, a French shipping and logistics company, have commenced building work on a logistics park at Jeddah Islamic Port. The new facility, covering an area of more than 130,000 sq m, will be built at the cost of SAR487 million ($129.85 million), the state-run Saudi Press Agency reported. Mawani […] November 19, 2023
Dubai Airshow Aviation Passengers go premium as first class popularity wanes One of the key themes from this week’s Dubai Airshow was the fact that while first-class commercial travel will continue to be an option for Gulf carriers, its allure has waned, amidst an industry-wide shift towards premium economy. Emirates airline, the Dubai-based flag carrier, is spending significant resources on premium economy as part of a […] November 19, 2023
Video length: 04:10 Dubai Airshow Aviation Middle East open to new airlines to meet demand Boeing sold nearly 200 jets to Middle Eastern airlines during this year’s Dubai Airshow and the US plane manufacturer believes the region is ready for “more new entrants”. “Because of the geography and economic growth, this region will support more competition and new entrants, not only for local passengers but also for connecting economies throughout […] November 19, 2023
Transport GCC railway sets 2030 operational target The long-awaited GCC railway network will be operational by December 2030, it has been announced. The target date was agreed by the Committee of GCC Ministers of Transport and Communications at a meeting in Muscat, Oman on Thursday. The 2,117km route will connect key cities in each of the six member states. The long-awaited GCC […] November 17, 2023
Transport Aramex opens new central operation hub in Oman Dubai-listed logistics company Aramex has unveiled an advanced courier operation facility in Muscat, Oman, to streamline its shipping process from package arrival to final delivery. The new facility, near the Muscat airport, will serve as a central hub for Aramex’s Oman operations, facilitating quicker delivery and efficient logistics management. Samer Marei, vice president – GCC […] November 17, 2023
Dubai Airshow Aviation Emirates reaches deal with Airbus for 15 new aircraft Emirates Airline appears to have reached a compromise with French plane manufacturer Airbus over the latter’s Rolls-Royce engines after the Dubai-based carrier announced an order of 15 Trent XWB-84 powered A350-900 aircraft. The $6 billion deal was revealed at Dubai Airshow just days after both Emirates president Tim Clark and chairman and chief executive Sheikh […] November 16, 2023
Real Estate Saudi-backed Oryx plans logistics centre in UK Oryx Real Estate Partners, a UK-based investment and asset manager, has acquired a five-acre development site in Milton Keynes on behalf of a consortium of GCC family offices, mainly from Saudi Arabia. The company, whose chairman and co-founder Fawaz Al Rahji is also chairman of Saudi family office Al Rahji Partners, plans to invest between […] November 16, 2023
DUBAI AIRSHOW Aviation Neom flying taxis ‘should be ready by 2026,’ says developer Neom could have “flying taxis” in the air by 2026 if testing and regulatory work stays on track, according to the company developing them for the Saudi giga-project. Borja Blond, CEO of the joint venture between Neom and German manufacturer Volocopter, said it ran successful test flights in the summer and was working with the […] November 16, 2023
Aviation Airbus seeks to break Emirates jet order impasse Airbus sought a compromise to try to unblock dozens of A350 orders from Dubai’s Emirates late on Wednesday, buoyed by a deal for 11 of the most popular version of the jet with Ethiopian Airlines, industry sources said. Dubai Airshow talks to rescue a delayed order for long-haul jets, potentially switching to the A350-900 version, […] November 16, 2023
Transport Kuwait’s Agility Q3 profit more than doubles to $91m Kuwait-based logistics specialist Agility reported third-quarter 2023 earnings of KD28 million ($90.76 million), an increase of 122 percent. Profit was boosted by the one-off gain of closing an interest rate hedge. Revenue grew 40.8 percent year on year to KD360.8 million. For the first nine months of 2023, Agility’s net profit stood at KD57.5 million, rising 39 […] November 16, 2023
Aviation Saudia aircraft maintenance subsidiary targets IPO Saudi Arabia’s Saudia Technic, the aircraft maintenance subsidiary of state-owned Saudia Group, is targeting a public share sale before the end of the decade, its CEO told Reuters at the Dubai Airshow. The company is planning an initial public offering (IPO) in either 2028 or 2029, Fahd Cynndy said on Tuesday on the sidelines of […] November 16, 2023
DUBAI AIRSHOW Aviation Unmanned flights brace for take-off in Dubai Terrifying to some, exciting to others, the launch of self-flying commercial aircraft in the region would represent a new chapter for the aviation industry. Unmanned aeroplanes are in the early stages of global development. But with the industry’s biggest manufacturers Boeing and Airbus testing autonomous systems and craft, the concept is inching closer to revolutionising […] November 16, 2023
EXCLUSIVE Aviation DXB to grow to ‘absolute maximum’ ahead of airlines’ move Dubai International Airport is to be expanded “to its absolute maximum” in the next few years, its operator has told AGBI, so there is time to prepare the city’s second airport for the arrival of Emirates’ and Flydubai’s entire fleets. Dubai Airports’ CEO, Paul Griffiths, added that the development plans for Al Maktoum International (DWC) […] November 15, 2023
Video length: 01:47 Dubai Airshow Aviation Boeing remains cautious on prospect of supersonic flight Neom Investment Fund – part of the Saudi giga-project Neom – has invested in US aircraft manufacturer Boom Supersonic, and Riyadh Air is also considering supersonic flight in its future projects. Saudi Arabian entities, it appears, are not fazed by the view of some industry experts that faster-than-sound flight poses unique difficulties. Darren Hulst, commercial […] November 15, 2023
Aviation India and Gulf tipped as key markets for private jet hire Private jet operator Vista Global Holding is expecting the Middle East and India to be its fastest-growing markets in the luxury aviation industry. The Dubai company’s “pay for hours flown” platform, VistaJet, has a fleet of about 360 aircraft available at 24 hours’ notice. “The most dynamic and fast-growing markets for us are the Middle […] November 15, 2023
