China launches new Iran train route
Tehran - China sent an inaugural train toward Iran carrying 1,150 tonnes of sunflower seeds.
Middle East
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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
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Jordan, Ghana discuss economic cooperation
Amman - Jordan Chamber of Commerce First Vice President Ghassan Khirfan,on Monday discussed with Ghana’s non-resident ambassador to the Kingdom, Sheikh Taher Bimbali Damba, ways to boost economic cooperation between the two countries and to establish joint investments
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Leisure boating, growth in exports to the UAE
Genoa - The Italian leisure craft sector is enjoying success in Dubai at the Dubai Boat Show a key trade fair for the Middle East market. Brands such as Amare Group, Azimut-Benetti, Baglietto, Ferretti Group, Fincantieri Yachts, Maori Yacht, Navaltecnosud and Veco were all present
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Costa Venezia heads towards the East with its first cruise
Genoa - Costa Cruises has started selling tickets for the inaugural cruise of Costa Venezia, the Italian company’s new ship currently being built at the Fincantieri shipyard in Monfalcone
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Iran, Madrid confer on expanding industrial cooperation
Tehran - Ways to expand industrial cooperation were discussed Sat. during a meeting between officials of Spanish Chamber of Commerce and the Industrial Development & Renovation Organization of Iran.
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Piaggio drones: go-ahead from Italian Treasury
Genova - As required by the Military Procurement Code, Italy’s Economy Ministry (MEF) has sent Parliament, for its consideration, a draft ministerial decree for the “approval of a multi-year programme for the acquisition of Medium Altitude Long Endurance remotely piloted aircrafts.”
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World Bank’s IFC calls for investment in Iraq reconstruction
Kuwait - The International Finance Corporation’s (IFC) country manager for Iraq, Ziad Badr, was speaking in Kuwait ahead of an international conference this week for donors and investors to rebuild and revive Iraq’s economy as the country emerges from a devastating three-war against Islamic State.
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Lebanon inks its first offshore leases
Beirut - On Friday,Lebanon moved forward with its first offshore exploration lease by celebrating a contract signing with Total, Eni and Novatek. Israel vigorously protested the news, which will allow the foreign consortium to explore reserves in Lebanon’s Block 9
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UAE mulls investment in Indian equipment
Dubai - The UAE is exploring investments in defence equipment manufactured in India, the country’s defence minister Nirmala Sitharaman said last week. Speaking to journalists in New Delhi, she said the relationship between the two countries has developed from a commercial one to a strategic partnership in critical areas
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Turkey’s largest airport will open in October
Istanbul - The third airport in Turkey’s largest city, Istanbul, will open on Oct. 29.
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Abandoned seafarers in UAE “a scourge that has to stop”
Ajman - The International Transport Workers’ Federation (ITF) has called the plight of abandoned seafarers in the UAE “a scourge that has to stop” after 11 Indian and Myanmar crew members were finally repatriated home after 17 months in Ajman, UAE
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Shipyards: Croatia offers cooperation to Israel
Zagreb - Croatia has offered possible cooperation in shipbuilding to Israel,Croatian prime minister Andrej Plenkovic has said following a meeting with his Israeli counterpart, according to a Croatian government statement
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Iraq, Orion sign deal to process gas from giant oilfield
Baghdad - Nahr Bin Omar, operated by state-run Basra Oil Co., is producing more than 40,000 barrels per day of oil (bpd) and 25 million cubic feet a day of natural gas.
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DP World invested US $1-billion in 2017
Dubai - Growing global trade opportunities, diversifying its business across the supply chain and exploring smart innovation technologies were key strands of DP World’s operations in 2017 which included over US $1 billion in capital expenditure year to date
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Germans to build 5th solar power plant in Hamedan
Tehran - An official said German investors have begun construction of the fifth solar power plant in Hamedan Province following successful operation of four other similar stations.
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Ten killed in Iran protests and security forces repulse attacks
Tehran - Anger over corruption and hardship fuels protests -demonstrators. Calls on social media for fresh protests on Monday. President Rouhani calls for calm, warns of crackdown.
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Saudi Aramco shipyard JV appoints CEO
Dubai - Saudi Aramco and its partners have appointed Fathi K. Al-Saleemas chief executive of a joint venture to build a shipyard on the kingdom’s east coast, part of the Saudi Arabian government’s drive to diversify the economy beyond oil
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Bombardier wins an order from EgyptAir
Montreal - Canadian aircraft manufacturer Bombardier on Friday announced the sale of 12 C Series aircraft to EgyptAir in a deal worth US$1.1 billion. The company said it signed a letter of intent last month for the sale of the 160-seat CS300 planes, with an option for another 12
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Iraq invites bids to build new oil export pipeline
Baghdad - Iraq has given foreign energy companies a month to signal their interestin building a new export pipeline from the Kirkuk oilfields in the north of the country. The new pipeline will replace an old and severely damaged section of the Kirkuk-Ceyhan pipeline
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Milaha Shipyard repairs over 7,000 vessels
Doha - Milaha Shipyard has emerged as one of the leading shipyards in the region.The Shipyard has serviced and repaired over 7,000 vessels of various types so far, showing Qatar’s growing role in global maritime sector. The Shipyard is one of the oldest and most active in the region
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Iran’s railroad transit up by 61%
Tehran - Head of the Islamic Republic of Iran Railway Company for Operation Affairs recalled that capacity of rail transport industry in Iran had plunged by 28 per cent during 2014-2015 mainly due to excessive bureaucracy and lack of profit-seeking visions.
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Iran’s Saipa exported $1.2 billion in cars
Tehran - The Tehran-based automaker has mostly been producing budget cars in recent years under license from South Korea and France for Iranian and international customers.
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“Russian energy minister did not discuss operations in Kurdistan with Iraqi officials”
Baghdad - Russian Energy Minister Alexander Novak did not discuss operations by Russian oil companies in Iraq’s Kurdistan region with the Iraqi prime minister or oil minister during his trip to Iraq, the Iraqi oil ministry said on Thursday.
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DP World increases stake in Embraport
Dubai - DP World has completed the acquisition of an additional 66.67% stake in Empresa Brasileira de Terminais Portuários (Embraport) in Brazil from Odebrecht Transport (OTP). This transaction increases DP World’s shareholding to 100% and the terminal will be rebranded to DP World Santos
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Saudi-led coalition allows first aid ship into Yemen’s Hodeidah port
London - Saudi Arabia and its allies closed air, land and sea access to the Arabian Peninsula country on Nov. 6, to stop what it calls a flow of arms to the Houthis from Iran. The action came after Saudi Arabia intercepted a missile fired towards its capital Riyadh.
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Over 4,700 ‘active’ construction projects in Saudi Arabia
Jeddah - The eighth edition of The Big 5 Saudi, a premier construction event in the region, will run from March 5 to 8 at the Jeddah Center for Forums & Events.
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Quake magnitude 5.0 strikes southwest Turkey
London - An earthquake of magnitude 5.0 hit southwest Turkey at 2022 GMT on Wednesday, the U.S. Geological Survey said.