TRADE-

The UAE and China inked four private sector agreements at the Hainan promotion conference in Dubai on Friday, which aims to solidify investment ties between the two countries Emirati news agency WAM reported.Garment manufacturer Ajilan and Bros, Hainan Airlines, and the Yangpu Economic Development Zone Management Committee signed an MoU, while Dubai Integrated Economic Zones(DIEZ) and Hainan Airport Infrastructure inked a cooperation framework. MENA-based logistics provider Fusion Specialized Shipping and Logistics also inked a strategic partnership with Hainan GLA, and Hainan Logistics Group. Global airline service provider UAS International Trip Support also inked a cooperation agreement with Hainan Provincial Bureau of International Economic Development.

ZONES-

Oman's Port of Duqm inks two green partnerships: The Port of Duqm inked a partnership agreement with waste management company Evergreen Gulf Recycling Hub in a bid to become an “environmentally friendly” hub, according to a statement. The Port also inked an MoU with energy-conservation solutions company Unicorn International LLC on several green projects including solar energy and green educational sessions for youth, it said in a separate statement.

SHIPPING + MARITIME-

Airseas building R&D center in Morocco: French energy equipment company Airseas is investing in a research and development center in Morocco that should help the company accelerate the production and rollout of its Seawing kite system, according to a statement. The center will feature a 2.4 sqm hangar and test bench that will act as a testing site for the seawing and its components, according to Bunker Spot.

SOUND SMART- The Seawing kite system uses wind-powered propulsion technology for ships and boats, using a kite to reduce fuel consumption and greenhouse gas emissions by approximately 20%, according to Airseas.

CAPITAL MARKETS-

Qatar Stock Exchange clearing house Edaa has amended the foreign ownership limit of Qatar Navigation Company (Milaha) to 100%, according to a statement. Foreign ownership of the company currently stands at 15%, according to figures disclosed on the Qatar Stock Exchange’s website.

AVIATION-

Bahrain International Airport has launched a 77k sqm fuel farm project with a fuel capacity of 30k cubic meters, Trade Arabia reports. The farm is equipped with a pipeline network and advanced storage facilities that should improve operational efficiency and minimize adverse environmental impacts. The new project should strengthen Bahrain’s global standing as a center for jet fuel services, according to Oil and Environment Minister Mohamed bin Mubarak.

INFRASTRUCTURE-

Bridge to link Dubai Islands to Bur Dubai: The UAE Roads and Transport Authority (RTA) has inked an agreement with real estate developer Nakheel to build a 1.4 km bridge connecting Dubai islands to Bur Dubai, according to a statement. The bridge has four lanes on each side, connecting Bur Dubai via direct entry and exit points. It will also have a 75-meter-wide canal for all types of ships as well as dedicated lanes for cyclists and pedestrians, along with elevators. 2k meters of surface roads will also be built to link Dubai islands and Bur Dubai by 2026.

Background: The bridge is part of the AED 5.3 bn Al Shindagha corridor improvement project, a massive infrastructure project that facilitates transportation and connectivity in the Al Shindagha area.

ALSO WORTH KNOWING-

  • The Dubai International Chamber has opened a new representative office in Paris, shortly after opening an office in Italy, as part of efforts to strengthen trade and investment ties with Europe. (Dubai International Chamber)
  • Abu Dhabi Airports is currently conducting extensive operational readiness trials for the upcoming opening of Terminal A in November, involving 6k volunteers to test equipment, staff and procedures across terminal operations. (Press release)
  • Suez Canal Economic Zone chairman Walid Gamal El Din met with AP Moller-Maersk Chairman Robert Maersk Uggla to discuss cooperation following the announcement of East Port Said Port’s second container terminal. (Statement)
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