INSEAD-Day

ships

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.
  • Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the impact of currents on shipping and increase the key waterway's capacity. Two ships used the new extension on Saturday, a statement from the Suez Canal Authority said. Authority chief Osama...
  • Two ships hit off rebel-held Yemeni region: maritime agencies

    The Houthis said in a statement they had targeted the Blue Lagoon with "missiles and drones, and it was directly hit". The JMIC, run by a 45-member international naval coalition, said the tanker "was subject to three ballistic missile attacks. All crew on board are safe (no injury reported)".
  • Pentagon confirms Houthis shot down drone off Yemen

    The downing of the drone came the same day that the Houthi rebels targeted two US-owned merchant vessels as they continue their multi-month campaign of attacks on shipping in the area. It is the second time an MQ-9 used for both surveillance and strikes was lost near Yemen in recent...
  • US and UK bomb Houthi targets in joint air raids

    Scaling up attacks in the Middle East, US and UK carried out joint air raids in Yemen after a separate wave of US strikes on targets in Iraq and Syria carried out in response to the killing of three US soldiers in Jordan. It is the third time the western...
  • Yemen-based Houthis fire missiles at ships in Red Sea, says US

    Yemen's Iran-backed Houthi rebels fired three missiles at two merchant ships in the Red Sea in their latest attack in the commercially vital waterway, the White House said. The report came after the Houthis vowed to keep up their attacks despite repeated US and British strikes against them.
  • Maersk halts ships’ transit via Red Sea strait for 48 hours

    COPENHAGEN, DENMARK - Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea strait for 48 hours, after Yemeni rebels attacked one of its merchant ships. The Maersk Hangzhou, a Singapore-flagged, Denmark-owned and operated container vessel en route from Singapore to Port Suez...
  • US shoots downs anti-ship missiles fired from Yemen

    The US Central Command said the missiles were fired from the area controlled by the Iran-backed Houthi rebels, describing it as the "23rd illegal attack by the Houthis on international shipping" since November 19. The Houthis have repeatedly targeted vessels in the Red Sea with strikes they say are in...
  • US shoots down Houthi-fired drones, missiles in Red Sea

    The Pentagon said in a social media post that there was no damage to ships. Some 12 drones, three anti-ship ballistic missiles and two land-attack missiles were fired by Houthis. Earlier, the rebels claimed responsibility for a missile strike on a vessel in the Red Sea and a drone attack...
  • Malaysia bans Israeli-flagged ships over Gaza war

    Prime Minister Anwar Ibrahim in a statement said that ships bound for Israel will also be barred from loading cargo at any port in the largely Muslim Southeast Asian nation with immediate effect. He particularly targeted Israel's biggest shipping firm ZIM. Malaysia's cabinet authorised ZIM to dock its vessels at...
  • US forms coalition to combat Houthi attacks in Red Sea

    US Defense Secretary Lloyd Austin said in a statement that countries seeking to defend "the foundational principle of freedom of navigation must come together to tackle the challenge posed by this non-state actor." Yemen's Houthi rebels have ramped up attacks on tankers, cargo ships and other vessels in the Red...
  • Over 1,000 migrants brought safely to Italian ports

    ROME, ITALY - Over 1,000 migrants were brought to safety at two Italian ports on Saturday after the overcrowded boats they were on encountered problems in the Mediterranean, news reports said. The rescues came the same day as a body was discovered of the 74th victim of the deadly shipwreck...
  • Tourists, cruises, flights to Aqaba on the rise in December

    AQABA, JORDAN - The southern city of Aqaba is welcoming an increasing number of local visitors and foreign tourists of various nationalities, especially from Europe, in the winter tourist season. The movement of cruise ships to the ports of Aqaba and flights to King Hussein International Airport is also witnessing...
  • UAE, Saudi Arabia sign MoU for mutual recognition of maritime training

    LONDON, UK - The UAE Ministry of Energy and Infrastructure (MOEI) and the Transport General Authority (TGA) of the Kingdom of Saudi Arabia signed a Memorandum of Understanding (MoU) for mutual recognition of maritime certificates issued in the two countries. The move is in line with their shared vision to...
  • Second Russian fertilizer shipment should be for W. Africa, says UN

    After a first shipment of Russian fertilizer blocked in European ports heads for Malawi next week, a second batch should go to West Africa, the United Nations said. The news comes following talks between Moscow and the UN this week, aimed at ensuring that vital Russian fertilizer exports are not...
  • Ukraine grain exports resume despite Russian pullout from landmark deal

    As one of the brokers of the grain deal, Turkey has stepped up diplomacy with the two warring countries in a bid to save it as Russia warned that continuing to enforce the agreement without its participation would be "dangerous". The Kremlin said it would be "dangerous" to enforce the...
  • Russia suspends participation in Ukraine grain deal

    Russia suspended its participation in a pact that allowed grain exports from Ukraine, blaming alleged drone attacks on Russian ships in Crimea. Russia made the announcement after its army accused Kyiv earlier Saturday of a "massive" drone attack on its Black Sea fleet, while Britain rejected Moscow's claims its specialists...
  • Egypt to raise Suez Canal transit fees by 15 percent next year

    Cairo, Egypt-- Egypt plans to raise fees for ships passing through the Suez Canal by 15 percent in 2023, the Canal Authority's Chairman Osama Rabie has said. According to media reports, Rabie said transit fees for bulk and tourist ships will be raised by 10 percent and will be applicable...
  • France sends latest nuclear shipment to Japan

    Two ships carrying reprocessed nuclear fuel destined for Japan set sail Saturday morning from northern France, an AFP photographer said, despite criticism from environmental campaigners.
  • Jeddah Yacht Club Marina Zone all set for Jeddah Season 2022

    Jeddah Yacht Club Marina zone will receive on Sunday the visitors to the Jeddah Season 2022 with a variety of restaurants and cafes overlooking the waterfront.
  • Ajman Chamber certificates of origin rise by 29 percent in 2021

    The total number of certificates of origin issued by the Ajman Chamber of Commerce and Industry (ACCI) during 2021 increased to 33,175, compared to 25,682 during 2020, achieving a 29 percent growth, said Mohamed Ali Al Janahi, Acting Director-General of ACCI. He said the total value of the products, for...
  • ADNOC to build two LNG vessels

    The two 175,000 cubic meter LNG vessels will join the company's fleet in 2025.
  • Yemen truce brings a windfall, two fuel ships dock at a port

    Two fuel ships have entered war-torn Yemen's port of Hodeida, the first shipment in months, the rebels who control the city said Monday, after a UN-brokered truce went into effect.
  • Demand for gas and wheat drives Suez Canal’s business up 15%

    The Suez Canal has seen a fifteen percent jump in business as ships carrying wheat and gas have filled the waterway in recent months.
  • Record cargo shipped through Egypt’s Suez Canal last year

    Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day blockage by giant cargo ship the Ever Given. Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source...
  • AD Ports to set up state-of-the-art cruise terminal in Jordan

    AD Ports Group will set up a state-of-the-art cruise terminal at Marsa Zayed in Aqaba, Jordan, after the signing of a Heads of Terms agreement with the Aqaba Development Corporation.
  • Ships violating seafarers’ rights can’t enter UAE waters

    The country launches 'Supporting Our Blue Army' initiative that will seafarers overcome the challenges arising out of the pandemic, travel restrictions.