DEBT WATCH-

#1- Emirates Islamic Bank approved a USD 50 mn shariah-compliant trade finance facility for UAE-based financial holding company Eclipse Investments Group, according to a press release. The facility is set to boost the company’s liquidity position to support supply chain expansion plans, import and export activities, as well as efforts to expand operations in certain markets.

About Eclipse: Founded in 2005, Eclipse Investments Group is fully owned by Omani Zubair Corporation and is active across a range of industries, such as energy, chemical manufacturing, electrical equipment, and fast-moving consumer goods sectors, according to its website. The company boasts a list of subsidiaries and controlling interests in companies across the globe, including the UK, Norway, KSA, Turkey, Tanzania, and India.

#2- Kuwait-based port management, logistics, and warehousing outfit JTC has renewed credit facilities worth KWD 2.7 mn, according to a disclosure (pdf). JTC also incurred foreign exchange facilities at USD 300k, the disclosure said.

JTC’s financials appear steady for the year: JTC’s net income edged up by about 1% y-o-y to KWD 5.2 mn in 9M 2025, according to its financial statements (pdf). The firm’s revenues surged some 9% to KWD 15.6 mn in the same period.

About JTC: Founded in 1979, JTC operates in Kuwait, KSA, and Qatar, catering to logistics sectors including ports management, contract logistics, warehousing, equipment leasing, and power rental, the statement said. JTC is majority-owned by Kuwait Projects Company Holding.

INVESTMENT WATCH-

Chinese textile firm Fountain Set plans to develop a USD 100 mn industrial project, including a textile and spinning factory, according to a statement from the General Authority for Investment and Freezones. The 200k sqm project — which will operate under the framework of freezones — is expected to become a center for fabric production and export to Europe and Africa.

PROJECTS-

Iraq launches first stretch of Development Road: Iraqi Prime Minister Mohammed Shia’ Al Sudani inaugurated the first stretch of the Iraq Development Road (IDR), comprising a 63-km road linking the Grand Faw Port to the International Safwan Highway in Basra, according to a statement. The road runs from the Grand Faw Port gate to the Khor Al Zubair Canal, passing through a submerged tunnel to Umm Qasr.

About the project: The 1.2k km IDR project aims to connect Iraq’s southern Grand Faw Port — slated to become a major commodities port — to Turkey’s border via rail and road networks. The projet is backed by the UAE, Turkey, and Qatar, and Baghdad is working to establish a unified governmental authority to manage all projects related to the megaproject.

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