ZONES-

Sohar Port and Freezone has inked an agreement with Libyan conglomerate Middle East Groupto expand its open yard car storage hub, as part of plans to boost logistics capabilities and export and re-export operations, according to a press release.

TRADE-

IRU + Iranian customs look to boost transport and transit in Iran: President of the Iranian Customs Administration met with the International Road Transport Union’s (IRU) Secretary General Umberto de Pretto in Geneva to discuss strengthening transport and transit in Iran, according to a statement. The pair discussed lowering transport costs and time by streamlining border crossings, easing customs procedures, digitalizing customs documents, and implementing TIR-EPD green lanes — a system allowing TIR holders to submit electronic pre-declarations (EPDs) to customs authorities in different countries. They also agreed to research the challenges faced during transit and determine how to enhance trade and transit volumes.

DEBT WATCH-

Saudi Fund for Development to lend Central Africa USD 20 mn for airport upgrades: Saudi Fund for Development (SFD) CEO Sultan Al Marshad inked a USD 20 mn development loan agreement with Central Africa’s Prime Minister Felix Moloua to oversee the completion of the runway works of Bangui airport and improve navigational traffic, according to a press release.

DP World’s USD 1.5 bn green sukuk — which it closed in September — will be used to fund electrification, renewable energy and clean transport projects, according to a company statement. The sukuk, which was listed on Nasdaq Dubai and the London Stock Exchange, garnered strong demand from local, regional, and international investors, and was 2.3x oversubscribed.

ALSO WORTH KNOWING-

  • QNBwill offerbanking services to companies and investors at Qatar Free Zones (QFZ). (Zawya)
  • India’s Asaka Air has received the green light to operate flights to Saudi Arabia, Qatar,and Kuwait this winter. (Times of India)
  • Air Algérie has inaugurated its first direct flight from Algiers to Douala, with a view to boosting cooperation between Algeria and other African countries. (Algeria Press Service)
  • Etihad Airwayshas taken delivery of a new Boeing 787-10 Dreamliner, the latest addition to the carrier’s fleet. (Statement)
  • Emirati airline flydubai is set to be the first international carrier to operate regular flights between Dubai and Kabul since 2021. The airline will launch two daily services starting 15 November. (Simple Flying)
  • Emirates Global Motor Electric has become the exclusive distributor of SANY electric trucks in the UAE. (Press release)
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