Finance And Politics
EDITORIAL
Too many threats to Turkey’s economy / EDITORIAL
Ankara is very dependent on foreign investments: these are the risks that it is taking
Middle East
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Iran to launch new container service connecting Asia to Europe
Tehran - “The container line between Asia and Europe and vice versa will be launched soon,” Captain Torabizadeh said on Monday. He also added that Iran will replace 49 new vessels with the older ones in its fleet, using domestic and foreign capacities.
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Meridiana: Qatar Airways acquires 49% stake
Rome - A deal has been reached:Qatar Airways has acquired 49% of AQA Holding, the new parent company of Italy’s Meridiana. The transaction was finalized yesterday and has received the applause of politicians and syndicates alike
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Bahri showcases latest achievements
Jeddah - Bahri,a global leader in transportation and logistics, participated in the General Directorate of Border Guards’ celebrations of the 87th National Day and the World Maritime Day. The celebrations included a range of events and special programs for this patriotic occasion
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Saudi Aramco could disclose accounts early 2018
London - Government still needs to decide on IPO venue, fuel reform. Aramco running accounts under new tax system-sources. Saudi government source says plans for IPO on track.
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US fears hamper Iran’s animal feed imports
Tehran - SLAL had issued two tenders to buy up to 200,000 tonnes of feed barley and 200,000 tonnes of corn last month but European traders said no offers were submitted as the tenders closed on Monday.
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Iran ready for free trade with regional countries
Tehran - Iran is ready to establish preferential tariffs and free trade with some regional countries, particularly Afghanistan, Pakistan and Oman, said the head of Iran’s Trade Promotion Organization (TPO).
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Afghanistan seeks speedy development of Iranian port
Tehran - India’s External Affairs Minister Sushma Swaraj said Monday that India would speed up the port development and begin supplying wheat to Afghanistan within weeks.
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Russia to give €1.2bn to Iran for power plant project
Tehran - Russia’s government-owned Vnesheconombank, or the VEB, signed an agreement to the same effect with an Iranian bank over a loan worth €1.2 billion for the development of Hormozgan thermal power plant on Persian Gulf coasts.
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EU rejects punitive measures against Iran steel
Tehran - Iran’s steel exports to Europe are now safe from punitive measures after EU governments reject hitting imports from the Middle Eastern country with trade tariffs.
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Hyperloop train forges ahead
Musk proposed the idea in 2012, now there are 10 projects. But Gresta’s HTT will introduce the first prototype in Dubai.
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ADSB delivers to Kuwait on schedule
Abu Dhabi - Abu Dhabi Ship Building (ADSB) has reached another key landmark in its ongoing project to build vessels for the Kuwait Navy, with the formal acceptance of the landing craft Sabhan into service as part of the agreement signed with Ministry of Defense of Kuwait in 2015
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HPH signs deal to operate Basra port terminal
Basra - Port development is picking up pace in Iraq after years of economic sanctions and internal strife that crippled trade to and from the Arabian country. Hong Kong-based Hutchison Port Holdings (HPH) last week reached an agreement with Nawah Port Management (NPM)
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Iran ready to swap half a million barrels of oil per day
Tehran - Iran has prepared itself for transfer of 500,000 barrels of oil from the Caspian Sea countries per day in the form of swap deals, a senior Iranian official announced.
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Tehran to bring totally homebuilt steel mill online
Tehran - Iran is about to bring online a sponge iron mill with a capacity of 800,000 tonnes per year in the country’s northwestern city of Miyaneh, news agencies reported on Tuesday.
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Trade at Jebel Ali Free Zone hits $80.2 billion
Dubai - Non-oil trade at Jebel Ali Free Zone rose 17% to $80.2 billion or an equivalent 27.9 million tons in 2016, from 23.9 million tons a year earlier. China kept its position as the free zone’s major player with $11.3 billion worth of non-oil goods, equipment and commodities being shipped in via the Jebel Ali port
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Kuwait contains oil spill, power and water output normal
Kuwait - Kuwait has contained a crude oil spill in the country’s southern waters in the Gulf and is cleaning up contaminated parts of the shore, state news agency KUNA reported on Monday, citing the oil minister.
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Iran shipped 502 thousand barrels of crude oil to State and private companies in India
Tehran - In July, Iran shipped 502 thousand barrels of crude oil to state and private companies in India.
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Iran resumes oil swap in Caspian Sea
Tehran - In a bid to strengthen the country’s strategic position in the region, Iran has resumed oil swap operations in the Caspian Sea following a several-year hiatus.
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Kuwait to finish cleaning up oil spill this week
Kuwait - Kuwait will finish cleaning up a crude oil spill in the country’s southern waters in the Gulf this week, a Kuwaiti newspaper report said on Sunday, quoting the country’s oil minister.
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Arab bloc won’t discriminate against US firms in Qatar rift
Dubai - Rift makes foreign firms cautious on Gulf dealings.
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Iran in talks to buy 48 Airbus helicopter
Dubai - The Health Ministry is planning to order 45 HEMS (Helicopter Emergency Medical Service) helicopters and the purchase is being negotiated by the Ministry of Roads and Urban Development.
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Erdogan says Berlin relations to improve after German election
Istanbul - Turkish President Tayyip Erdogan said on Saturday that tension with Europe was due to European domestic politics and relations with Berlin would improve after Germany’s parliamentary election in September.
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Gaza dreams of port
Gaza - For decades, Palestinians have dreamed of having their own port on the Mediterranean, from where they could sail the world. Instead, they are making do with a wooden ship run aground on a Gaza beach, which has become a popular restaurant
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“No Solution to Gulf crisis until bans are lifted”
Doha - The Foreign Minister of Qatar Sheikh Mohammed bin Abdulrahman Al-Thani said that the Gulf crisis cannot be resolved unless the “siege” is lifted. The Minister said that there can be no dialogue as countries that imposed restrictions on Qatar never gave specific expectations
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Qatari LNG route to Europe round Africa is nothing new
Cairo - Suez remains the dominant route, however. Of 57 Qatari deliveries into the UK in 2016, only one went round the Cape of Good Hope.
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Qatar signs $12 bln deal to buy jets from U.S.
Doha - Qatar’s Ministry of Defense said on Wednesday the country signed a deal to buyF-15 fighter jets from the United States for $12 billion. The deal was completed despite the Gulf country being criticized recently by U.S. President Donald Trump for supporting terrorism
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Eni: “Qatar crisis affects gas not oil”
Bologna - “The current tensions over Qatar have not had many effects, because the country is more a gas than an oil producer and so I think that in the end reason will win out and therefore it will be possible to find dialogue. I am convinced of it, because the role of Qatar is too important.”
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Qatar launches new shipping routes to Oman amid food shortage fears
Doha - Saudi Arabia, the United Arab Emirates and other Arab countries cut diplomatic as well as travel and trade ties with Qatar last week, accusing it of supporting Iran and funding Islamist groups.
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Etihad Cargo help bring endangered rhinos
Abu Dhabi - The critically endangered black rhino has returned to the wilds of Rwanda with the help of Etihad Cargo and animal transport specialist Intradco Global. On behalf of African Parks, Intradco chartered two Etihad Boeing 777 freighters to transport the 19 black rhinos from Johannesburg to the Rwandan capital
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GE: $15 billion of business deals with Saudis
Ryadh - U.S. technology and engineering conglomerate GE said on Saturday it had signed $15 billion of business deals with Saudi Arabia as part of the kingdom’s drive to diversify its economy beyond oil. It came as dozens of senior U.S. business executives met Saudi counterparts at a conference
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Hapag-UASC tie-up nears completion
Doha - German shipping line Hapag Lloyd is close to completing a mergerwith United Arab Shipping Company (UASC) after UASC’s shareholders agreed terms to repay outstanding debts, sources familiar with the talks said
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Proven track record at JSL Global in Qatar / GALLERY
Doha - JSL Global completed the offloading,local transportation and handling of 40 modules arriving at Hamad Port from Croatia. Each module weighed 25mt with dimensions of 14.0 x 3.6 x 3.6m. When the vessel berthed at Hamad Port, JSL noticed that the cargo was very delicate and because of its hollow structure
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GAS discharges 15 transformers in Djibouti
Djibouti - Gulf Agency Services in Djibouti is 10 years old and the company is focusedon project cargo. The cargo arrived at the Port of Djibouti from Shanghai (China) aboard “BBC Kwiatkowski” for an Ethiopian Electric Power Project. Eight of the transformers weighed in at 110mtns each with seven at 53.8mtns
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Iran: IRISL begins shipment of heavy cargoes
Tehran - Islamic Republic of Iran Shipping Lines (IRISL) has created regular services between the Persian Gulf, the Mediterranean, Europe and the Far East.
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Over 33 % rise in volume of Iran’s trade exchanges
Tehran - The volume of Iran’s trade exchanges was increased by nearly one third over the past 12 months as compared with the previous year, new data released said.
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New Auto Gate system opens at Sohar
Sohar - As the world’s leading port network,Hutchison Ports is no stranger to significant infrastructure investments or world-leading technologies. As the container terminal operator at Sohar Port in Oman, Hutchison is taking its next bold step towards modernisation and full automation
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Saudis/Russians mull possible new output cut / STATEMENT
Ryadh - The Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia Khalid Al-Falih and The Minister of Energy of the Russian Federation Alexander Novak held a meeting on the 15th of May 2017 to discuss the progress on their bilateral cooperation and consult on the state of global oil markets
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Fire on ship at Sharjah port kills 1
Al Hamriyah - A fire that erupted on Saturday morning on a ship carrying petroleum substances docked at a port in Sharjah, United Arab Emirates (UAE).
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Iran cancels airport deal with France’s Bouygues
Tehran - Iran has canceled a preliminary agreement with the French industrial group Bouygues to expand the Imam Khomeini International Airport (IKIA) south of Tehran, an official says.
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UAE approves $112m infrastructure projects
Dubai - The UAE government has announced infrastructure developments worth Dh410 million ($112 million) including several road and housing projects in the emirates, said a report.
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Iran Mercantile Exchange Monthly Trade Exceeds $940mln in April
Tehran - The Iran Mercantile Exchange (IME) announced that around $941mln of various commodities weighting over 1,670,000 tons were traded in its domestic trading and exports halls in April.
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Troubled Taiwan shipping line Yang Ming cuts Iran service
Taipei - Taiwan’s troubled Yang Ming Marine Transport Corp is halting its container service to Iran, becoming the first foreign shipping line to abandon the route a year after international sanctions on Tehran were lifted, according to a company source.
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Korean companies in Saudi “Vision 2030”
Seoul - Large number of South Korean companies will participate in Saudi Arabia’s Vision 2030 project to promote its seven major industries. South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan visited Riyadh, Saudi Arabia, from April 3 to 4 and held discussions with Khaled Al-Faleh, minister of energy
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Iran sanctions 15 US firms, citing Israel ties
Teheran - Iran has imposed sanctions on 15 U.S. companies for alleged human rights violations and cooperating with Israel, the state news agency IRNA reported on Sunday. The agency quoted Iran’s foreign ministry as saying the companies had “flagrantly violated human rights” and cooperated with Israel
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Greece, Israel sign agreement in shipping
Athens - Greece and Israel on Monday signed a bilateral maritime transport agreement that aims to upgrade the legislative framework governing Greek-Israeli bilateral ties in shipping and lead to a deeper strategic partnership between the two countries in the transport sector
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First mega-ship calls at Israeli port
Haifa - The largest ship ever to dock in an Israeli port arrived at the port of Haifaon Thursday. The 13,092-TEU “Maersk Elba” container ship arrived at the Carmel Terminal the morning of February 2. It was operated on by four STS cranes with an average productivity of 136 containers per ship hour
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The new Black Sea port / REPORTAGE
IN 2016 container traffic in Black Sea, except Turkey, fell by 12,2 % year over year during the first nine months of the year to 1,72 million teus excluding transshipments.
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Conxion handles large boiler for Qatar Fertilizer
Doha - Qatari PCN members, Conxion Logistics & Heavy Equipment have successfully handled the national transport of a large RG boiler with dimensions of 14.00 x 3.20 x 3.80m and a weight of 70tns from Hamad Port to the Mesaieed Industrial City for Qatar Fertilizer Company
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Daewoo to establish joint shipbuilding company in Iran this month
Tehran - Daewoo Shipbuilding and Marine Engineering Co., Ltd. (DSME) is to establish a shipbuilding company with three Iranian state-run companies by the end of January.