TRADE-

The GCC states have unanimously approved a unified tourist visa for the region, according to a press release. The visa aims to enhance tourism and the economy by facilitating the movement of residents and tourists between the six GCC states. Previously, tourists and foreign residents of the bloc required different visas or visa waivers to travel between GCC states. The system is set to come into effect in 2024 or 2025 in the GCC states of Bahrain, KSA, Kuwait, Oman, Qatar, and the UAE, Khaleej Times reports. The decision aims to contribute to the GCC’s 2030 tourism strategy, which seeks to increase the number of visitors to the bloc to 128.7 mn visitors per year by 2030.

AVIATION-

Etihad Airways has big expansion plans through to 2030, Etihad’s chief executive Antonoaldo Neves told The National in an interview. The carrier aims to double its fleet to 150 planes and triple its number of passengers to 33 mn. To achieve these targets, Etihad will hire hundreds of pilots and crew and build “fleet flexibility” through aircraft leasing, Neves told the National. Abu Dhabi’s new airport terminal — Terminal A — which will be renamed Zayed International Airport, will be “critical” to the airline’s expansion.

The details: Etihad will hire another 200 pilots and 1k cabin crew in 2024 after its addition of 16 aircraft to its fleet, and has plans to lease more aircraft, Neves told the outlet. The airline aims to grow its seat-kilometers — an airline’s seats multiplied by km flown — by 30% this year and 25% next year, the National writes. The company is also focusing on fleet flexibility in the next phases of its growth. The airline also expects to cut unit costs by some 7%, the outlet writes.

ICAO to help out Iraq’s aviation sector: Iraq’s Civil Aviation Authority (CAA) has inked a cooperation agreement with the International Civil Aviation Organization (ICAO) to build the capacities of the CAA, according to a statement by the Iraqi Prime Minister Mohamed Al Sudani’s media office. The agreement aims to enhance the institutional development of the CAA, provide expertise and support, and contribute to the overall development of the civil aviation sector.

Riyadh Air to use Microsoft’s Azure in its digital transformation: Riyadh Air signed an MoU with Microsoft to use its Azure cloud platform to accelerate digital transformation, as well as enhance operational efficiency and customer service,according to a press release. The airline will leverage Microsoft’s AI tool, copilot, to boost Riyadh Air’s offerings, services, and operational models. They will also jointly launch a center of excellence that will offer a structured framework to promote innovation, the press release said.

Background: The carrier also inked a tech agreement last week with IBM Consulting to serve as principal systems integrator for the airlines technological and digital transformation.

ZONES-

SCzone + Netherlands discuss cooperation:Chairman of the SCzone Walid Gamal El Din spoke with Dutch Ambassador to Egypt Peter Mullema and a representative of Dutch company Invest International to discuss cooperation between the SCzone and the Netherlands in renewable energy and green fuel, according to a statement. The officials, who met in Cairo last week, discussed cooperation in renewable energy and green fuel.

Egypt + Singapore eye stronger cooperation on ports, logistics: Gamal El Din also met with Singapore’s second Foreign Affairs Minister Mohamed Maliki bin Othman to discuss improving cooperation in the ports, maritime services, industrial and logistics sectors, according to a statement. Gamal El Din said the SCZone is looking to hold a roadshow in Singapore in 1H 2024 to promote investment opportunities.

Egypt + China look to establish a cooperation zone: Gamal El Dinalso welcomed a delegation from the Haikou National High-Tech Industrial Development Zone in China to discuss establishing a cooperation zone to offer key strategic services, according to a statement. Discussions also included building on technological and commercial cooperation.

E-COMMERCE-

Export Bahrain + Alibaba.com sign MoU to boost trade: Export Bahrain and e-commerce platform Alibaba.com have signed an MoU for the latter to provide special rates to Bahraini businesses referred by Export Bahrain, Zawya reports. The agreement aims to reduce cost barriers linked with onboarding business and allow Bahraini companies to access new markets. The MoU also includes training and support programmes in the form of webinars and workshops on the efficient use of e-commerce platforms provided by Alibaba.com for Bahraini suppliers.

ENERGY-

Kuwait Petroleum Corp (KPC) has sold 80k-120k tonnes of very low sulfur fuel oil (VLSFO) via a tender, for loading in 1H 2024, Reuters reported, citing market sources. The term tender was awarded at USD 7 to USD 8 per metric ton less than Singapore 0.5% VLSFO cargo quotes on a FOB Kuwait basis.

ALSO WORTH KNOWING-

  • Bahrain is launching a tender for the fourth package of the North Muharraq Highway Project, which will involve building a fourth bridge between Muharraq and Manama. The project is being financed by the Saudi Fund for Development and bids are open only to Saudi contractors registered with the Deputy Ministry for Contractor Classification. (Zawya)
  • Global Aviation finance company Avolon has delivered five new Airbus A320neos to Middle Eastern low cost carrier Flynas, bringing the airline’s fleet size to 54 aircraft, including 45 A320neos. The sale and leaseback transaction for the aircraft was agreed upon in May.(Press release)
  • Restaurant management solutions provider Foodicsis partnering with food and beverage supplies platform Suplyd to offer supply chain management solutions to Egyptian restaurants. (Arab Finance)
  • Bahrain’s Oil and EnvironmentMinister Mohammed bin Mubarak bin Daina met with Managing Director of APM Terminals Bahrain Matthew Luckhurst, which operates Khalifa bin Salman Port, to discuss strategic cooperation in environmental protection and sustainable development. (Bahrain News Agency)
Tags: