SHIPPING LINES-

Dammam added to Upper Gulf Express service: MSC has added King Abdulaziz Port to its Upper Gulf Express shipping service, the Saudi Ports Authority (Mawani) said in a statement. The new route launching at the end of May will connect Dammam to the Arabian Gulf ports of Khalifa, Sharjah, and Umm Qasr. The shipping service includes one vessel with a holding capacity of 4k TEUs.

ICYMI- King Abdulaziz Port was also recently added to the India-South Africa freight route operated by MSC, which began operating in early May — with five vessels operating with an average holding capacity of 6k TEUs.

CUSTOMS-

Dubai Customs gets a state-of-the-art X-ray system to enhance inspections: Dubai Customs introduced an advanced X-ray scanning system at the Jebel Ali and Tecom Customs Center to inspect heavy and light vehicles, equipment, and yachts in a bid to double the center's inspection capacity and enable faster procedures, according to a statement. The system allows the scanning of vehicles and large machinery measuring up to 5.9 meters by 5.5m, and can detect, identify, and locate radioactive substances, identify customs declarations using container numbers, and remotely control image analysis.

BANKING-

FAB launches new electronic payment platform for e-commerce players: First AbuDhabi Bank (FAB) launched an electronic payment portal called Access, providing electronic payment solutions to e-commerce businesses, small and medium enterprises and micro-enterprises,Daily News Egyptreports. The portal enables businesses to accept online electronic payments, follow up on transactions as well as oversee their payments. Access will also offer website tools solutions and payment link services to facilitate the creation of online stores.

FINANCE-

UAE’s DP World Trade Financehas partnered with Standard Bank to provide trade finance solutions for African businesses, according to Construction Business News. The financing will be provided through DP World Trade Finance’s single window digital platform to African businesses who require logistics and financial support to connect to global trade routes, according to the news outlet. The partnership will enable DP World to offer Standard Bank “access to data on cargo movements, enabling them to lend confidently,” Senior Executive Officer of DP World Financial Services, Sinan Ozcan is quoted as saying.

ALSO WORTH KNOWING-

  • Iran Air isadding one weekly flight from Tehran Imam Khomeini International Airport to London Heathrow Airport (LHR) starting 31 July. (Financial Tribune)
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