Friday 22 June 2018

Saudi Arabia, Russia to invest $2bn in tech projects

The Russian Direct Investment Fund (RDIF) together with partners from Saudi Arabia intend to invest $2 billion in technology projects in 2019, head of RDIF Kirill Dmitriev was quoted as saying in a media report. Cooperation aspects were recently discussed at a meeting with Crown


Dubai RTA lifts 4m riders during Eid holidays

Dubai’s Roads and Transport Authority (RTA) said that the total ridership of public transport means and taxis of the RTA during Eid Al Fitr holidays 2018 had reached 3,794,320 riders. It is also confirmed the metro riders had clocked 1,542,517 riders shared between the Red


Stable outlook for shipping firms on earnings growth

The outlook for the global shipping sector for the next 12 months remains stable on the back of expected supply-demand improvements in the dry bulk and container shipping segments and overall sector earnings growth of 4 to 5 per cent, said Moody's Investors Service in a new report.


Djibouti Port concession deal in place, says DP World

Dubai-based global marine terminal operator DP World has denied media reports stating that the company was looking for an out of court settlement with respect to the dispute with the Djiboutian government over their illegal action in taking control of the port at Doraleh.  &


Inttra sees record transaction volumes in May

Inttra, the largest neutral network, software and information provider at the centre of the ocean shipping industry, said May was a record month for the company with more than four million requests for container bookings or shipping instructions processed on its platform.  &


KBR wins engineering contract for US, Mexico plants

KBR, a global provider of differentiated professional services, said it has been awarded a multi-year contract to provide engineering, procurement, and construction management (EPCM) services to a Fortune 100 chemicals manufacturer for itsr facilities in the US and Mexico. As per


Melltoo, Volkswagen in key Ramadan initiative

Dubai-based Melltoo, a peer-to-peer online marketplace that sells used items, said it had collaborated with Volkswagen Middle East for the whole of Ramadan for its novel initiative called #Drive4ACause. Melltoo helps customers in the UAE sell their used items without the hassle o


Tristar warehouses win DMCC 5-star rating

UAE-based Tristar Group, a leading integrated liquid logistics company, said its warehouses located in the Jebel Ali Industrial Area 1 and 2 were awarded 5-star rating by Dubai Multi Commodities Centre (DMCC) for the second and third consecutive years, respectively. All types of


Irena backs EU renewable energy boost plan

International Renewable Energy Agency (Irena) has commended the European Union’s (EU) decision to increase its renewable energy target from 27 per cent to 32 per cent by 2030. Lauding the move, Irena's director general Adnan Z Amin said: "This consolidates Europe&r


UK group ShipServ sets up two new divisions

UK-based ShipServ, a leading e-marketplace for the marine and offshore supply industries, has announced the establishment of two new divisions - ‘solutions’ and ‘customer engagement and service operations’. The new structure has been designed to proactivel

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