Shell halts Red Sea shipments over attack fears, say report
WASHINGTON, US - British oil giant Shell has paused transit through the key Red Sea shipping route indefinitely, over fears of...Business Energy Geostrategy Global
DSOA program to aid techpreneurs and startups
DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021.DSOA — a wholly-owned government free zone — is expected to launch the program at GITEX Future Stars 2021
The tech-focused startup event will run from October 17 to 20 at the Dubai World Trade Center
Oman to get green ammonia plant at Salalah
The new project, named SalalaH2, will target the production of up to 1,000 tons per day of green ammonia.An international consortium has signed an agreement to develop a green hydrogen and green ammonia project at the Salalah Free Zone in Oman
The consortium consists of the alternative energy business unit of Oman’s national petroleum investment company OQ, Marubeni Corporation, Linde, and Dutco
DMT issues a new Code of Practice for marina operations
The Department of Municipalities and Transport (DMT) has announced a new Code of Practice (CoP) encompassing the primary Health, Safety...The new code will push the emirate's ambition to become one of the top five global maritime centers by 2030.
The code stipulates mandatory attestation of Marina Berth Leasing Contracts by DMT no later than six months or at the time of the next contract renewal.
Morocco is Africa’s new automotive manufacturing hub
Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000...Morocco’s Automotive industry is growing exponentially each year with car sales exceeding 160,000 units in 2021, and creating over 220,000 direct jobs.
According to several international experts Morocco’s auto industry is set to contribute to as much as 24% to the Moroccan GDP by 2022
Digital upskilling key to MENA economic revival
About 70% CEOs in the Middle East believe that lack of digital skills is a threat to their businesses, a...An independent survey of Middle East CEOs conducted by Price Waterhouse Coopers in 2020 revealed that 70 percent believe that a lack of digital skills is a threat to their business
A recent report by Korn Ferry, the US management consulting firm, predicts a global talent shortage of more than 85.2 million people by 2030
DP World says disruption of global supply chain to continue
DP World says the disruption of the global supply chain will not end any time soon because of the shortage...And therefore the disruption affecting global trade will continue for “a long time”
"The problem is complicated because you have a backlog of shipments"
Egypt and Greece to sign a deal for power interconnection
Egypt and Greece will sign a preliminary deal to build an electricity interconnection between the two countries in Athens on...It will constitute the first interconnection between Europe and Africa in the Southeastern Mediterranean region
The agreement comes a week after Egypt’s signing of an $1.8 billion electrical connection project with Saudi Arabia
Etihad raises first ESG loan in global aviation
Etihad Airways has raised $1.2 billion in what is the first sustainability-linked loan tied to ESG targets in global aviation.Etihad selected HSBC and First Abu Dhabi Bank as the strategic partners and financiers for this transaction
The two acted as Joint ESG Structuring Banks, Joint ESG Coordinators, Joint Bookrunner and Mandated Lead Arranger
Egypt stops buying wheat due to high cost
Egypt, the world’s biggest importer of wheat, has stopped buying the grain because the price of it is too high...This is the fourth time this year that Egypt has balked at offers in a tender
The country imports huge amounts of wheat in order to subsidize bread for its citizens
Saudi Industrial Development Fund unveils three new products
The Saudi Industrial Development Fund has unveiled a set of programs and initiatives as part of its annual meeting to...The launch included a land, a logistic loan, a supply chain financing product and an industrial business incubator program
Over 60 logistic zones will be developed by 2030 to support exports, e-commerce and re-export operations
