Infrastructure Contract awarded to modernise Egyptian railway A consortium of Egypt’s Orascom Construction and Paris-based Thales Group has signed a new $323.50 million contract with Egyptian National Railways to modernise the double-track railway. The track, located on the east bank of the river Nile, 115 km from the country’s capital, will link Cairo with Giza and Beni Suef. The project will be […] September 4, 2023
Aviation Abu Dhabi’s $3bn new airport terminal to open in November The new terminal at Abu Dhabi International Airport will become operational in early November, significantly increasing the emirate’s passenger and cargo capacity, the UAE state-run Wam news agency reported. The terminal will also boost the emirate’s bid to position itself as a global hub for trade and business, state-owned operator Abu Dhabi Airports said on […] September 1, 2023
Opinion Aviation Central Asia airline investments: a sprat to catch a mackerel The region is one of the world's fastest growing airline markets August 30, 2023
Transport DP World signs partnership with Turkish port operator Global port operator DP World has signed a partnership deal to strengthen its position in Turkey. The equity agreement between DP World Yarimca Port and Turkey’s Evyap Group will secure supply chain services in the critical Marmara gateway market. The transaction remains subject to regulatory approvals. Once complete, DP World will own 58 percent of […] August 29, 2023
Transport Qatar Airways upbeat on Latin America expansion Qatar Airways is optimistic about Brazil and the overall Latin American market as part of a global network expansion strategy on the heels of a World Cup-driven surge for its business. The airline reported a record annual revenue of $21 billion in 2022, up 45 percent from the year before, and a $1.21 billion net […] August 29, 2023
Transport PIF unit buys StanChart’s jet leasing business for $3.6bn Aircraft Leasing Company (AviLease) has agreed to buy the aircraft leasing business of UK-based Standard Chartered for $3.6 billion as it aims to become a top 10 global lessor by 2030. Based in Riyadh and backed by the Public Investment Fund (PIF), the jet lessor will acquire a portfolio of 100 narrow-body aircraft and become […] August 29, 2023
Transport DP World investing $510m to build container port in India Global ports operator DP World will invest $510 million to build, operate and maintain a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday. “It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets,” Sultan Ahmed bin […] August 28, 2023
Transport Kuwait airport passenger numbers flying higher Passenger traffic through Kuwait International Airport is forecast to grow by 7 percent this year, fuelled by increased activity across the summer months. Total passenger numbers to and from the airport is expected to reach 15.5 million, according to the Gulf state’s Directorate General of Aviation, up from 14.46 million passengers reported in 2022. Abdullah […] August 28, 2023
Logistics Saudi Arabia to build 59 logistics centres by 2030 Saudi Arabia will have 59 logistics centres by 2030, as the kingdom aims to transform itself into a global logistics hub. Crown Prince Mohammed bin Salman unveiled the masterplan for the centres as part of ongoing initiatives under the national transport and logistics strategy. The 59 centres will have a total area of more than […] August 28, 2023
Transport Nigeria seeks to ‘immediately’ resolve issues with Emirates Nigeria’s president, Bola Tinubu, has ordered an immediate resolution to disagreements with Emirates airline and visa issuance by the UAE, the president’s spokesman said on Thursday. The UAE stopped issuing visas to Nigerians last year after Dubai’s Emirates suspended flights due to an inability to repatriate funds from Africa’s biggest economy. Tinubu’s office said in […] August 25, 2023
Trade Exeed joins Chinese push to corner UAE EV market Another brand name is about to join the growing list of Chinese electric vehicles available in the UAE, with premium sports utility vehicle Exeed ready to enter the market in the next two years. AG Auto, an automobile subsidiary of Dubai-based family conglomerate Al Ghurair Investment, is the exclusive distributor for Exeed in the UAE. […] August 24, 2023
Transport Abu Dhabi’s Etihad ramps up cargo capacity for China Etihad Cargo, the cargo and logistics arm of state-owned Etihad Airways, has ramped up its freight network by adding a weekly service to Guangzhou, China. The new route is in response to higher demand for cargo capacity from China, bringing the total number of freighter services for mainland China to 10 per week, the Abu […] August 23, 2023
Transport Suez Canal traffic unaffected after tanker collision Shipping traffic was flowing normally on Egypt’s Suez Canal on Wednesday, two shipping sources based in the country said, after two tankers that collided earlier were separated. The two tankers, the Singapore-flagged liquefied natural gas (LNG) carrier BW Lesmes and the Cayman Islands-flagged oil products tanker Burri, briefly collided in the canal, ship tracking company […] August 23, 2023
Aviation Dubai International raises air passenger target to 85m Dubai International Airport has raised its annual target for passenger traffic to 85 million after surpassing pre-pandemic levels for the first six months of the year. The airport reported 41.6 million travellers in the first half of 2023, up 49 percent on the same period last year and marginally ahead of the traffic recorded during […] August 22, 2023
Transport Kuwait Airways cuts losses by 50% as revenue soars Kuwait Airways has trimmed its losses in half from KD107 million ($347 million) in 2021 to KD55 million ($178.4 million) in 2022. “Kuwait Airways has achieved positive results, which were better than expected in 2022,” state-run Kuna news agency reported, citing chairman Ali Aldukhan. Total passenger revenues reached KD289.1 million, up 11 percent year-on-year. Passenger […] August 21, 2023
Transport DP World’s profits drop despite revenue rise Port operator DP World has reported a drop in profits for the first six months of the year by almost 10 percent, despite revenues increasing by 14 percent. Profit attributable to the UAE multinational logistics group in H1 was down 9.7 percent at $651 million from the same period in 2022, when it posted a […] August 17, 2023
Transport Dubai company to invest $500m in Chinese EV maker UAE company NWTN has announced a deal to invest $500 million in the Chinese manufacturer of electric vehicles including the Hengchi brand. The investment in China Evergrande New Energy Vehicle Group aims to accelerate NWTN’s development in the EV space as it establishes an assembly plant in UAE capital Abu Dhabi. Headquartered in Dubai, the eco-conscious […] August 16, 2023
Analysis Transport Careem could yet be hailed a smart buy for Uber The hefty premium Uber paid for Dubai ride-hailing rival Careem will prove worth it in the long run, analysts believe. Uber, which has racked up nearly $33 billion in losses since its inception in 2009, paid $3.1 billion for Careem in January 2020 in what remains the largest deal for a homegrown Gulf tech startup. […] August 16, 2023
Logistics DP World reveals expansion plans at critical ports Port operator DP World has announced plans to expand capacity across critical global markets as it responds to growing demand. The Dubai-based company expects to add 3 million 20-foot equivalent units (TEUs) of new container handling capacity by the end of the year. DP World – which manages 9 percent of the world’s handling capacity, […] August 16, 2023
Transport Qatari firm buys majority stake in Rotterdam port Qatari port operator QTerminals Group has acquired Kramer Group’s majority stake in the Netherlands’ Port of Rotterdam. The Port of Rotterdam is the largest port in Europe and is a significant addition to QTerminals Group’s plan to diversify its operations. QTerminals is 51 percent owned by Qatar Ports Management Company and 49 percent by Qatar […] August 16, 2023
Transport Dubai Aerospace Enterprise to buy 64 Boeing 737 Max Dubai Aerospace Enterprise said an affiliate has signed an agreement to acquire the rights and interests of a portfolio of 64 Boeing 737 Max aircraft from a subsidiary of China Aircraft Leasing Group Holdings. The global aviation services company – which is one of the largest aircraft leasing companies in the world – said the […] August 15, 2023
Opinion Manufacturing Global EV manufacturers rev up for Gulf race There is a way to go before electric vehicles overtake fossil fuel cars August 14, 2023
