TODAY: World Bank backs Iraq road-corridor upgrades with USD 900 mn

Good morning, nice people. Infrastructure is having its moment in today's issue. We lead with Iraq securing USD 900 mn in World Bank backing for its road corridors, while Oman’s Asyad Group is making a strategic move into Central Asia with a controlling stake in Uzbekistan’s leading logistics platform, placing it on one of Eurasia’s busiest trade routes.

You’ve spent decades building wealth, and the question now isn’t how to make money — it’s how to make sure it survives you, works across borders, and doesn’t quietly erode while you’re not looking. The rules have changed. Egyptian real estate, once a near-guaranteed store of value, is competing with markets in Greece, Spain, and Dubai.

Whether it’s art as an asset, crowd-funding, or the tax implications quietly stacking up behind that second passport, the toolkit for serious capital deployment has expanded faster than most conventional advice — or most advisors — have.

In Issue 3 of EnterpriseAM Money Matters, we cover the decisions that matter most when you’re at the stage where capital preservation is just as important as capital growth — and where getting it wrong is no longer something you can simply recover from.

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A dream delivered

Riyadh Air has received its first two commercial Boeing 787-9 Dreamliners, according to a statement on X. The PIF-owned carrier will use its new commercial aircraft to prepare for its official rollout on 1 July, starting with its route to London Heathrow. This delivery is the first of a planned fleet of 72 Dreamliners.

ALSO- The airline has also teamed up with Air India, signing a strategic MoU that unlocks a web of codeshare and interline arrangements to make international travel feel effortless, according to a joint press release (pdf). The two airlines are set to also collaborate on loyalty programs, cargo services, operations, and digital initiatives to enhance the guest experience.

REMEMBER- This is part of a plan by Riyadh Air to integrate one Boeing 787-9 Dreamliner into its fleet each month and launch two new destinations every two months, reaching 100 cities by 2030.

But the environment has not been cooperative: Regional instability and significant delays have derailed the airline’s launch, and attacks on civilian infrastructure are impacting the aviation industry as the US-Iran conflict remains unresolved. Most recently, an attack on Kuwait’s main airport caused one death, dozens of injuries, and extensive damage.

RAM adds another E190

More lift for Casablanca’s short-haul network: Morocco’s flagship carrier Royal Air Maroc (RAM) is expected to take delivery of another Embraer E190 — expanding its E190 fleet to five aircraft and its total fleet to 66. The aircraft is being added on lease and will be deployed on thinner regional sectors and medium-haul routes where demand does not justify larger narrowbody capacity.

A bridge before the big fleet renewal? The delivery is in line with RAM’s interim leasing push strategy as the airline advances a major fleet acquisition campaign. The airline is evaluating offers from Boeing, Airbus, and Embraer for up to 200 aircraft by 2037, with first deliveries expected in 2028. The carrier also plans to add up to 13 leased aircraft a year.

Market watch

Oil prices surged this morning, driven by renewed Israeli strikes on Lebanon and further boosted by reports of explosions in Iran, Reuters reports. Brent crude futures gained USD 3.20 to trade at USD 96.24 / bbl by 03.33 GMT, while US West Texas Intermediate (WTI) increased USD 2.87 to USD 93.41 / bbl.

The Baltic Index loses a little lift: The Baltic Exchange’s dry bulk index — which tracks rates for the capesize, panamax, and supramax vessel segments — slipped 0.1% to 3,224 points on Friday. The capesize index fell 0.3% to 5,503 points, while the panamax index rose 0.5% to 2,343 points. The smaller supramax index was unchanged at 1,569 points.

The Drewry World Container Index surged 23% to USD 3,433 per 40-ft container last week, according to the latest index readings. The lift came as transpacific and Asia-Europe rates moved higher, with Shanghai-Los Angeles (31%), Shanghai-New York up (20%), Shanghai-Rotterdam (25%), and Shanghai-Genoa (20%). Early peak-season, higher FAK (Freight All Kinds) implementation, front-loaded bookings ahead of potential US tariff changes in July, and World Cup-linked cargo are keeping rates under upward pressure.

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