INVESTMENT WATCH-

Suez Canal Economic Zone (SCZone) showcases renewables + green fuels plans to 24 Japanese companies: SCZone chairman Walid Gamaleldin received a delegation of Japanese companies headed by the Japan External Trade Organization (Jetro) for an event showcasing the zone’s avenues for investment in renewables and green fuels, according to a company statement. International companies that have signed agreements or MoUs with SCZone on green projects also took part in the event, the statement said.

INFRASTRUCTURE-

Dubai to revamp Hessa Street: Dubai’s Roads & Transport Authority(RTA) has awarded an AED 689 mn contract to develop Hessa Street, which will double the number of lanes on the street from two to four in each direction, according to a press release. The scope of the project is set to cover 4.5km and will revamp Hessa Street’s intersections with Sheikh Zayed Road, First Al Khail Street, Al Asayel Street, and Al Khail Road, according to the release. The project will allow Hessa Street to accommodate 8k vehicles per hour and will add a 13.5 km cycling track that will include two bridges.

SUPPLY CHAIN-

Technology and supply chain service provider Ingram Micro has inked a new distribution agreement with technology firm Zoho to bring Zoho’s products to Egypt, Qatar, Oman, Morocco, Lebanon, the UAE, and Saudi Arabia, according to a press release. The agreement will focus on making accessible its digital collaboration platform Zoho Workplace, pipeline-centric CRM for small businesses Zoho Bigin in the Middle East.

TRANSPORT-

Egypt + Switzerland look to establish joint economic committee: Director of the Swiss State Secretariat for Economic Affairs Helene Budliger Artieda proposed establishing a joining economic committee between the countries during Artieda’s first visit to Egypt, where she met with CEO of Egypt’s General Authority for Investment and Free Zones Hossam Heiba,according to a statement. Artieda pointed to several promising areas of cooperation, including industrial parks, green hydrogen, transportation, and logistics. Heiba also expressed Egypt’s keenness to increase Swiss Investments and transfer Swiss expertise and technology to Egypt, particularly in the transportation sector.

ALSO WORTH KNOWING-

  • Qatar Airways Cargo has introduced two new belly hold flights to China’s Chengdu and Chongqing with a joint weekly capacity of 84 tonnes for vulnerable/tech cargo, general cargo, fish, seafood, and perishables. The routes will operate three times a week by Airbus A330-300 aircraft. (Press release)
  • Iraqi Oil Minister Hayan Abdul Ghani has inaugurated a new Norwegian-built oil tanker, dubbed Sumer, that has a capacity of 200k barrels. The tanker will be added to the Iraqi Oil Tanker Company’s fleet and is expected to generate some USD 900 bn within 12 years. (INA)
  • Iraqi Airways has received its second Dreamliner aircraft as part of an agreement with Boeing. (Statement)
  • Air India will kick off daily non-stop flights between Kochi in the Indian state of Kerala and Doha, Qatar on 23 October. (Times of India)
  • Vice Chairman of Qatar Chamber Mohamed Al Kuwari has inked a cooperation agreement with Chairman of the Uzbek Chamber of Commerce and Industry Davron Vakhabov to promote trade exchange, reinforce trade cooperation, discuss investment climate, and foster partnershipsbetween the two countries. (QNA)
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