RAIL-

Saudi Development Fund (SDF) inked a USD 55 mn loan agreement to refurbish and upgrade a railway for transporting phosphate in Tunisia, SPA reported on Thursday. Tunsian Economy and Planning Minister Ferial Al-Warghi met with CEO of the Saudi Fund for Development, Sultan bin Abdul Rahman Al-Murshid to sign the agreement, which is set to restore 190 km of the railway network, boosting phosphate transport capabilities and alleviating pressure off road infrastructure and lowering traffic congestion.

ROADS-

Oman kicks off tendering for roadworks project: Oman has issued a call for tenders for the implementation of dual carriageways along Al-Kamil and Al-Wafi, Jaalan Bani Bu Hassan, and Jaalan Bani Bu Ali roadways, Oman’s transport ministry said on X. Eligible firms can purchase applications via the Omani government’s tendering portal here until 7 March, with bids due 1 April. Applications are priced at OMR 1.5k for local and international companies, and OMR 100 for SMEs, the statement said.

LOGISTICS HANDLING-

Saudi conglomerate Alsulaiman Group (ASG) is set to expand its footprint in Saudi Arabia across various sectors, Argaam reported on Thursday. ASG is looking to triple the size of its logistics arm, Flow, and will increase the number of Ikea showrooms from nine to 30 within the next five years, situating them near major cities. The company also plans to open Circle K stores at petrol stations and other strategic locations.

EARNINGS WATCH-

UAE-based budget carrier Flydubai saw its bottomline boosted 75% y-o-y to AED 2.1 bn in 2023, according to a earnings release. The airline’s topline also bumped up 23% to AED 11.2 bn during the same period. A ramp up in aircraft deliveries, maintenance of the company’s workforce, and network expansions contributed to the year’s strong performance, Flydubai Chairman Ahmed bin Saeed Al Maktoum said.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Turkey has not lifted sanction on Sulaymaniyah Airport: The head of Iraq’s Transportation and Communications Committee Karwan Yarwais denied quotes attributed to him by semi-official Iraqi newspaper Al Sabah that Turkish sanctions were being lifted from Sulaymaniyah Airport. (Al Shafaq)
  • Qatar Airways reveals Lisbon return: Qatar Airways will resume flights to Lisbon, Portugal, running four weekly flights beginning 6 June 2024, as part of a drive to expand its network to 170 new destinations this year. (Statement)
  • Iraqi exports to be showcased in KSA: The Iraqi Federation of Industries, in cooperation with Iraq’s commercial attache in Riyadh, is looking to organize an exhibit showcasing Iraqi exports to Saudi Arabia, in a bid to boost bilateral trade, and has issued a call to agricultural and manufacturing exporters looking to promote their products. (Statement)
  • Emirates expands South America footprint: UAE carrier Emirates is set to launch daily direct flights to Bogota, Colombia, via Miami, USA, beginning 3 June 2024. (Statement)
  • Jazeera Airways flies to Georgia: Kuwaiti budget airline Jazeera Airways will operate seven flights a week between Kuwait City and Batumi, Georgia starting 14 June. (Statement)
Tags: