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Oman wealth fund buys stake in Musk's AI companyIn a major move, the Oman Investment Authority (OIA) has acquired a key stake in XAI, an US company owned by celebrity billionaire Eleon Musk which specialises in artificial intelligence (AI) technology, as part of its global expansion strategy, reported Oman News Agency. More… |
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Saudi Arabia issues RFQs for Ras Mohaisen-Makkah water projectSaudi Arabia's Water Transmission Company (WTCO) has annoucned that it has issued requests for qualification for the Ras Mohaisen-Baha-Makkah Independent Water Transmission System. Part of the Western Supply Group, the IWTS, which runs 300 km long, will ha More… |
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DP World kicks off maritime work at $1.2bn port in SenegalDP World has announced that it has started maritime construction work at the new Port of Ndayane in Senegal being set up at a total investment of $1.2 billion in collaboration with British International Investment (BII), the development finance agency of UK government. More… |
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Air Cargo strong seasonal Q4 peaks: WorldACDAir cargo’s strong seasonal fourth quarter (Q4) appears to have peaked, with tonnages and rates dropping slightly in the second full week of December, including from Asia Pacific origins. This is according to the latest figures and analysis by WorldACD Market Data. More… |
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‘Iraq is UAE's top trading partner’ with $27bn annual tradeIraq is the UAE's top global trading partner, with trade exceeding $27 billion annually, said Abdullah Al Saleh, Undersecretary of the Ministry of Economy, UAE. Giving his welcome address at the Iraq Britain Business Council (IBBC) Autumn Conference &lsquo More… |
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AISIN unveils expansion strategy at Automechanika DubaiAISIN Corporation, a global leader in automotive components, has unveiled its ambitious vision for the future of the global aftermarket industry and introduced new tyre brand – AITERRA – at Automechanika Dubai 2024. The event, which was held recent More… |
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AD Ports secures refinancing and upsizing of RCF to $2.125bnAD Ports Group has successfully refinanced and upsized its existing Revolving Credit Facility (RCF) from $1 billion to $2.125 billion (equivalent in AED and USD tranches). This move aims to optimise the group's financing costs by improving interest m More… |
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Swisslog to build automated frozen food warehouse for GiasGias Srl, a leading Italian company in the frozen food industry, has partnered with Swisslog to construct an advanced automated warehouse for frozen, semi-finished and finished products. Specialising in frozen vegetables, Gias supplies its products to re More… |
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Mawani adds Silmar Group's shipping service to JeddahThe Saudi Ports Authority (Mawani) has announced the launch of a new cargo service "MXS1" by Silmar Group to Jeddah to help expand exports and imports. The move is part of Mawani's endeavour to improve the kingdom's position in the maritime n More… |
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DP World issues groundbreaking $100m Blue BondDP World has issued a groundbreaking $100 million Blue Bond to fund sustainable projects cutting across marine transportation, port infrastructure, marine pollution, as well as nature and water positive initiatives. Through this issuance, DP World will contrib More… |
