Iranian crude exports fall further as Trump’s sanctions loom
London - Exports average 1.33 mbpd in first two weeks of Oct. Iran says its oil output fell slightly in September.
Middle East
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“Middle East ports must explore innovative approaches”
Dubai - According to a new report by The Boston Consulting Group (BCG), entitled “Will Middle Eastern Ports Continue to Succeed?”, ports across the region have enjoyed success by building high-quality infrastructure to serve the large cargo volumes flowing through the region
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Abu Dhabi’s NMDC wins Khalifa Port expansion contract
Abu Dhabi - The expansion at Khalifa Port, one of the world’s fastest growing container, bulk cargo and roll-on roll-off vehicle transport ports, will add 1,000 m of quay wall to the port and deepen its main channel and basin to 18 m from the current 16 m.
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India to keep buying Iranian oil despite U.S. sanctions
New Delhi - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating that the world’s third-biggest oil importer is to continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4.
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Iran, Iraq resume shipping line
Baghdad - Iraqi Ministry of Transport in a statement announced that after a three-year pause, the passenger shipping line has been resumed between Iran and Iraq through Shatt al-Arab-Arvand, IRNA reported
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India allows state refiners to use Iran tankers, insurance for oil imports
New Delhi - India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) halted voyages to Iran due to U.S. sanctions, sources said
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Cruises, the Med is back on top once again / ANALYSIS
The Chinese miracle seems to have been a mirage, companies are growing their fleets with larger ships: after the crisis, Europe is strategic again.
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Turkey calls for a new chapter in relations with Greece
Athens - Turkey’s foreign minister called for a new chapter in testy diplomatic ties with Greece on Saturday, even as he berated the neighbouring country for providing a safe haven for Turkish “criminals.”
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China close to a deal with Iraq for more crude
Beijing/Dubai - Iraq’s state oil marketer SOMO is close to a deal with China’s state-run Zhenhua Oil to boost the OPEC member’s crude oil sales to the world’s top oil importer, four sources with knowledge of the matter said. Iraq is the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC)
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Iran says Qatar wants more ships to travel to ports
Tehran - Hadi Haqshenas, the managing director of the Ports and Maritime Organization of Iran,was quoted by the domestic media in Tehran as saying that Qatar had demanded to make the required changes so that more ships would travel between its Hamad Port and Iran’s Bushehr Port.
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British Airways, Air France halting flights to Iran from next month
Reuters
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Iraq to ask U.S. for exemptions on some Iran sanctions
Baghdad - Iraq imports food, car, construction parts from Iran. U.S. promised consequences if countries ignore sanctions
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Erdogan invokes patriotism, Islam as lira remains under pressure
Istanbul - Erdogan says crisis aims to bring Turkey to “its knees”. Gunshots fired at US embassy, nobody hurt.
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Iran tells EU to speed up efforts to save nuclear deal
Ankara - Iran says more needed to save nuclear deal. France’s Total exits giant South Pars gas deal.
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Israel seeks re-tender of mining rights into Dead Sea / GALLERY
Ein Bokek - The Dead Sea is shrinking at the rate of about a meter a year, leaving behind deserted beaches and sinkholes in a slow-motion environmental disaster. The main culprit is the drying up of the Jordan river, its main tributary, as communities upstream draw on it for farming and drinking
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Erdogan tells Turks to buy free-falling lira as Trump doubles metals tariffs
Ankara - Sell-off deepens on concern about Erdogan, U.S. ties. Trump doubles tariffs on Turkish metals. Lira plunges more than 18 percent to new record low.
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UAE’s Stanford Marine creditors in talks about sale of business
DUBAI/ABU DHABI - Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with the matter say. Banks are overseeing control of Dubai-based SMG after it failed to meet the terms of its debt obligations
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“Trump wrong to expect Saudis to cover loss of Iran oil supply”
London - Iran said on Tuesday U.S. President Donald Trump was mistaken to expect Saudi Arabia and other oil producers to compensate for supply losses caused by U.S. sanctions on Iran, after OPEC production rose only modestly in July
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Fincantieri: new defence logistics division / GALLERY
La Spezia - “With an eye to the technologies of the future, we are creating an engineering division dedicated to defence technologies and to better serve the needs of logistical support.” This from the managing director of Fincantieri, Giuseppe Bono
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DPW to build and operate logistics hub in Mali
Dubai - Global trade enabler Dp World has signed a 20-year concession with an automatic 20-year extension with the Republic of Mali to build and operate a 1000-hectare modern logistics hub outside of Bamako
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Fincantieri Marinette Marine gets Saudi contract via US consortium
Genoa - The U.S. government has awarded the Lockheed Martin-led consortium, which includes Fincantieri, an Undefinitized Contract Action award, as an initial commission ahead of a Foreign Military Sales contract, for the construction of 4 Multi-Mission Surface Combatants for the Kingdom of Saudi Arabia
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Iran eyes oil for goods barter plan to fight sanctions
Tehran - An Iranian lawmaker says the Islamic Republic is considering a plan to purchase goods only from countries that buy its oil.
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Qatar’s food giant invests $500 mln in Sudan
Doha - Qatar’s Hassad Food has announced its plan to invest 500 million U.S. dollarsin the agricultural and food sector in Sudan over the next three years. The announcement came after Hassad, the wholly owned subsidiary of Qatar Investment Authority, signed a mutual agreement with a Sudanese company
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CRCC tests Saudi rail project
Riad - China Railway Construction Corp (CRCC) started on Wednesday the testing of the Mecca Light Rail in Saudi Arabia, in preparation for Hajj pilgrimage in August when millions of pilgrims will head to the holiest city in Islam
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Jordan to receive USD100 mln from Germany
Amman - In order to help implement reforms required by the International Monetary Fund (IMF), Jordan will be receiving USD 100 million loan from Germany according to German Chancellor Angela Merkel announcement on Friday
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OPEC meets Russia and allies to agree oil output boost
Vienna - OPEC meets Russia and other allies on Saturday to clinch a new deal raising oil output, a day after agreeing a production hike within the group itself but confusing the market as to how much more oil it will pump
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China launches new Iran train route
Tehran - China sent an inaugural train toward Iran carrying 1,150 tonnes of sunflower seeds.
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Russia says it is possible to discuss Iran deal’s future without U.S.
Moscow - Russian Acting Deputy Foreign Minister Sergei Ryabkov said on Tuesday it was possible to discuss the future of the Iran nuclear deal without the participation of the United States.
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Iraq, BP sign Kirkuk oilfield development contract
Basra - The agreement was signed in the southern Iraqi city of Basra, he told Reuters.
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Russia to electrify Iran Northern Railroad project
Tehran - Director General of Iranian Northern Railway Yousef-Geran Pasha made the above remark and said that Iranian Northern Railway will be electrified with the cooperation of Russia.
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Air France to scale down its Iran business
Paris - Air France says it plans to cut back on the number of its flights from Paris to Tehran from October citing poor economic performance over two years in operation.
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Abu Dhabi’s Mubadala and MIP to sell 50 percent stake in Abu Dhabi Terminals
Dubai - Abu Dhabi state investor Mubadala Investment Co and Mubadala Infrastructure Partners (MIP), an emerging markets infrastructure fund manager, have reached a deal to sell their combined 50 percent stake in Abu Dhabi Terminals to Abu Dhabi Ports
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Emirates’ DP World handles 17.6 million TEUs in first quarter 2018
Dubai - DP World Limited handled, according to the official company’s statement, 17.6 million twenty-foot equivalent units (TEUs) across its global portfolio of container terminals in the first quarter of 2018, with gross container volumes growing by 7.3% year-on-year
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Oil, gold to gain on Syrian strikes
London - Gold and oil will extend their gains on Monday, albeit modestly, when the markets open for the first time since Western powers launched a missile attack on Syria but equities and bonds are unlikely to suffer big losses unless the West strikes again or Russia retaliates
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Iran’s supreme leader says Western attack on Syria a crime
Ankara - Iran’s Supreme Leader Ayatollah Ali Khamenei said an attack on Syria by the United States, France and Britain on Saturday was a crime and would not achieve any gains.
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New Saudi-Spanish shipbuilding contract
Ryadh - The Saudi Arabian Military Industries company (SAMI)and Spanish firm Navantia signed on Thursday a partnership that would localize more than 60% of naval combat systems activity including integration and installation
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OMV in $1.5bn deal to buy 20pc Abu Dhabi oilfield stake
Abu Dhabi - Austrian energy group OMV said it has reached an agreement with Abu Dhabi National Oil Company (Adnoc) to acquire a 20 per cent stake in the concession for the two offshore oilfields in the UAE.
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Turkey condemns U.S. sentence sought for banker
Ankara - President Tayyip Erdogan’s spokesman said on Thursday Turkey strongly condemned a demand from U.S. prosecutors to sentence Turkish banker Hakan Atilla, convicted of helping Iran evade U.S. sanctions, to about 20 years in prison.
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Bahrain’s $119m waterfront project on fast track
Work is moving at a fast pace at Saada West Project, a BD45-million ($119 million) waterfront development in the Muharraq area of Bahrain.
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USA to sell $1 billion arms to Saudi Arabia
The State Department says the administration told Congress on Thursday that it plans to approve the sale.
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Azerbaijan Republic to invest $60mn in Astara freight station project
Teheran - Member of Board of Directors of the Islamic Republic of Iran Railways Hossein Ashuri said that Azerbaijan Republic will invest $60 million to develop Astara railway freight station in west of Gilan province.
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DP World 30-year concession for greenfield port of Banana
Dubai - DP World has won a 30-year concession with an option of a further 20-year extension for the management and development of a greenfield multi-purpose port project at Banana, Democratic Republic of the Congo (DRC).
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Fincantieri reveals specifications for Qatar’s warships
Genoa - Genoa - Fincantieri showcased the Qatar Emiri Naval Forces’ (QENF) forthcoming multi-mission/air defence-capable corvettes, offshore patrol vessels and land platform dock at the 2018 Doha International Maritime Defence Exhibition and Conference
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UAE-Saudi train to launch by end of 2021
Dubai - The United Arab Emirates will have a rail link with Saudi Arabia by the end of December 2021, a senior transport official said.
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Dp World acquires Peru company for $316M
Dubai - Dp World on Sunday announced its latest $315.7 million acquisition, giving a further fillip to its ongoing ambitious network expansion drive.
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Senior Israel Shipyards firm official suspected of bribery
Tel Aviv - The police detained 3 people, among them a senior official of the Israel Shipyards company, on suspicion of bribing a foreign representative to allow defense export deals with an African country worth tens of millions of dollars.
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Yard construction in Saudi Arabia begins on Hyundai’s joint venture
London - A new joint venture named International Maritime Industries Company, IMI, has started operations for the construction process of the future major maritime yard at the Ras Al Khair site in eastern Saudi Arabia. The construction is under way
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Leonardo puts 2017 behind it with Profumo’s new mega deal
Rome - As expected, Leonardo performed poorly in 2017. This after a downward revision announced last November and confirmed at the end of January. But it is looking to the future with CEO Alessandro Profumo, who signed a €3 billion mega contract in Doha
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Djibouti says its container port to remain in state hands
Nairobi - Djibouti says has no “secret plans” for Doraleh port. U.S., China and France have military bases in Djibouti. DP World kicked out after six-year contractual dispute.
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Somalia bans DP World
Dubai - Somalia has banned Dubai ports operator DP World from operating in Somalia,saying that a contract that the company signed last year with the breakaway Somaliland region to develop an economic zone is null and void