INVESTMENT WATCH-

Egypt’s General Authority for Investment and Freezones (GAFI) has issued six new golden licenses for projects in the country, with a total value of EGP 5.6 bn, according to a statement. The National Egyptian Railway Industries Company will establish and operate a factory for rail supplies and parts in the Suez Canal Economic Zone with an investment of EGP 3.6 bn and Hassan Allam has received a golden license to establish, manage, operate, and maintain a strategic warehouse in Luxor with an Investment of EGP 1.5 bn, according to the statement. Enviroprocess, Nilos Residential, Nilos Hotel, and Ice Linx were also issued licenses for smaller projects.

What is a golden license? The golden license is a comprehensive license for all permits required for the set up, operation and management of companies in Egypt. The granting of these golden licenses brings the total number to 29 licenses granted so far, GAFI said. Check out Enterprise Egypt’s explainer on how golden licenses work here.

AVIATION-

The UAE’s General Civil Aviation Authority (GCAA) launched a new cargo monitoring platform, dubbed the Cargo Data Reporting System (Cards), providing data analysis to government agencies, airlines, ground handling agents, and express service providers, Wam reports. The platform will provide an analytical view of air cargo movements to, from, and through the UAE, analyzing performance of national airlines, ground handling agents, and express service providers. The system will allow stakeholders to identify their strengths and weaknesses to boost their competitiveness, the UAE’s Economy Minister Abdullah bin Touq Al Marri said.

Riyadh Air is now part of the United Nations Global Compact (UNGC) initiative — a corporate sustainability initiative focused on promoting sustainable development goals, according to a statement. In a formal letter to UN Secretary General Antonio Guterres, the PIF-owned airline pledged to adhere to the UN Global Compact’s ten principles on sustainable practices in environment, labor, and anti-corruption. The airline also plans to release its inaugural sustainability report prior to its inaugural flight scheduled for mid-2025.

EQUIPMENT-

Alexandria’s Abu Qir sea port has acquired five quay cranes including large STS, Al Mal reports, citing sources it says have knowledge of the matter. The port received two giant STS dock winches, two mobile cranes, as well as an RTG yard winch. Three large quay cranes and six RTG yard cranes have been delivered for use by the Chinese Hutchison Port Company, an international operator of container terminals. Abu Qir Port, Egypt’s deepest in the Mediterranean, features a berth draft of up to 22 meters and a 6.25k-meter linear length, as well as a 650-meter sea dock boasting a 17-meter draft.

OTHER STORIES WORTH KNOWING THIS MORNING-

  • Jordan Airmotive + National Airlines expand partnership: US cargo airline National Airlines is set to receive a second CF6-80C2B5F engine from engine maintenance, repair, and overhaul (MRO) company Jordan Airmotive. (Statement)
  • Royal Jordanian Airlines expands cargo fleet: Royal Jordanian Airlines has added an A321 freighter to its cargo fleet, the first of its kind for the region. (Statement)
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