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FINANCE- Iran + Syria establish joint bank and ins. institute to help boost joint trade: Iran and Syria will establish a joint bank and ins. institute that can facilitate ins. services for Iranian traders in Syria, Iran’s official Islamic Republic News Agency reports. Iran will hold a 60% stake in the new venture, while Syria […]
Author Archives: enterpriseam admin
Posted inAround the World
US trucking firm shuts down operations amid union protests and debt + Pakistan, China breathe new life into key Belt and Road Initiative project
Yellow shuts operations, will lay off all 30k workers: US trucking firm Yellow, previously known as YRC Worldwide, suspended operations and plans to file for bankruptcy after it failed to refinance its debt of USD 1.5 bn, CNN reports. Although the company had averted a strike by the Teamsters union, representing 22k drivers and dock […]
Posted inCalendar
AUGUST Oman will award Ras Al Hadd Airport consultancy contract. 31 July-9 August (Monday-Wednesday): KSA trade delegation headed by Investment Minister Khalid Al Falih tours Brazil, Chile, Costa Rica, Argentina, Panama, Paraguay, and Uruguay. 28 August (Monday): Registration for Emirates Postal Group’s Logistics Unleashed competition concludes. SEPTEMBER 4-8 September (Monday-Friday): Logistics and Transport Management, Dubai. […]
Posted inWhat we're tracking today
TODAY: Saudi Arabia is on a Latin American roadshow + new maritime ESG index coming this September
Good morning, lovely people. We have a tight issue for you this morning, with a couple of interesting stories coming out of the UAE and Kuwait. THE BIG LOGISTICS STORY- Kuwaiti logistics outfit entered a multi-year derivative transaction with several major banks to hedge its investment in Danish global freight forwarder DSV for the second […]
Posted inFinance
Agility hedges DSV investment with EUR 1.3 bn equity collar in the second transaction of the type this year
The company drew down EUR 1 bn earlier this year from a similar hedging agreement
Posted inSTORAGE + WAREHOUSES
GAC Motors launches distribution center in UAE
The distribution center helps slash the order cycle time from almost a month to just a week for customers in the Middle East
Posted inDiplomacy
Iraq + Kuwait agree to resolve maritime border dispute + boost trade
Hope for Iraq + Kuwait’s long standing maritime border dispute? Iraq and Kuwait have agreed to bolster their bilateral relations, Iraqi News Agency reports. Kuwaiti Foreign Minister Salem Al Sabah and his Iraqi counterpart, Fuad Hussein, discussed increasing cooperation in several fields, including economy and investment, as well as resolving outstanding issues between the countries, […]
Posted inLogistics in the News
Shipping firms are expanding capacity at an unprecedented rate + rising temperatures are a threat to logistics workers
Shipping industry sees a record USD 90 bn in ship orders: The shipping sector — well-known for its “cycles of boom and bust” — is currently seeing an unprecedented USD 90 bn global ship order pipeline, Bloombergreports, citing data from Drewry Maritime Research. There were 890 ships on the global container vessel order book as […]