ADQ’s Zero Two secures co-controlling stake in Asia-focused platform Evolution Data Centres

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What we're tracking today

TODAY: ADQ’s Zero Two invests in Evolution Data Centres + US threatens retaliation ahead IMO green framework vote

Good morning, friends. The news cycle has slowed down as we inch closer to the weekend. ADQ’s Zero Two investment in an Asia-focused data centers platform tops today’s brisk read, followed by a flurry of earnings from several Gulf-based players. Let’s dive right in!

WATCH THIS SPACE-

#1- Kuwait Airways faces setbacks amid delivery delays: State-owned Kuwait Airways is struggling to meet its 2025 targets to expand operations and balance its financials amid aircraft delivery delays and geopolitical tensions, the airline’s chairman Abdulmohsen Alfagaan told Reuters on Monday. While the company had initially planned to expand its fleet to 33 jets by 2024, industry-wide supply chain disruptions have pushed most of the deliveries — leaving it with a 27-aircraft fleet as of 2025.

What’s next? The company currently has nine Airbus jets on its orderbook, with deliveries expected to wrap by 2027, Alfagaan told the newswire. Two of the jets are expected this year — one Airbus 321, expected by the end of August, and one A330-900 due by year-end, Kuna reports, citing Alfagaan.

Kuwait Airways has seen its operational revenues increase 6% q-o-q to USD 324 mn in 2Q 2025, according to a statement. The airline also posted a 9% q-o-q passenger increase to more than 1 mn passengers over the same period. The 2Q figures come despite the headwinds that hit several regional airlines due to disruptions caused by the Iran-Israel escalation.

#2- Egypt discusses airport privatization plans with Incheon Airport Corp.: Egypt met with executives from South Korea’s Incheon Airport Corporation to discuss the firm’s potential participation in the country’s airport public-private partnership (PPP) plan, according to a statement. Incheon expressed its willingness to support Egypt through consultancy and joint investment projects, but did not outrightly commit to any projects.

Egypt unveiled a list of 11 airports up for the PPP back in March, under an agreement with the International Finance Corporation. The agreement will see the pair kick off the airport management privatization program by offering Hurghada International Airport as a pilot project, with an upcoming tender currently in the works. Cairo International Airport is not on the list for the program’s first phase.

Piquing lots of interest: Unnamed Kuwaiti firms and French concessions and construction company Vinci have both reportedly expressed interest this month. Earlier in December, Egypt’s Hassan Allam Holding and France’s Groupe Aéroports de Paris submitted a joint proposal to manage and operate Egyptian airports, and the China Communications Construction Company also expressed interest.

#3- DMCC drums up Indonesian business investments in first-ever Jakarta roadshow: Dubai Multi Commodities Center (DMCC) wrapped its first Made for Trade live roadshow in the Indonesian capital, which looks to drum up investments from Indonesian businesses across the renewable energy, agrifood, tech, and Islamic economy sectors, according to Dubai Media Office. The roadshow gathered over 150 local business leaders and government stakeholders.

Indonesia is positioned as a hub for sharia-compliant trade and halal goods, and DMCC can use its commodities platforms and Islamic finance infrastructure to help “facilitate the flow of Halal products, Islamic financial instruments, and sharia-compliant investment across the GCC, Southeast Asia, and beyond,” DMCC executive chairman and CEO Ahmed Bin Sulayem said.

By the numbers: Home to over 25k firms, DMCC represents an estimated 20% of total Indonesian business presence in the UAE. Some 650 Southeast Asian companies — including over 30 from Indonesia — joined DMCC’s business district over the past year, a 13% growth y-o-y. Non-oil trade between the two countries nearly doubled to USD 5 bn in four years following the signing of the UAE–Indonesia economic partnership agreement.

#4- US comes out swinging against IMO emissions levy: The US is threatening members of the UN’s International Maritime Organization (IMO) with retaliation if they support its Net-Zero Framework ahead of an October vote, Reuters reports. “Our fellow IMO members should be on notice that we will look for their support against this action and not hesitate to retaliate or explore remedies for our citizens,” according to a US Cabinet statement.

REMEMBER- The IMO voted last April to adopt the framework, with the support of 64 member nations, including global heavyweights like China, Brazil, and EU members, whereas 16 countries voted against, including most of the Gulf countries. The US exited the April meetings in protest before the vote took place.

What now? The October vote will be essential to make the framework official, with a two-thirds majority — out of the IMO’s 176 members — required to pass.

About the Framework: The framework sets two escalating emissions targets requiring gradual cuts to ships’ GHG fuel intensity, as well as progressive levies against those who fail either of the targets. A stricter standard mandates a 17% cut by 2028 from 2008 levels, increasing to 21% by 2030 and 43% by 2035, whereas the softer target would see cuts by 4% by 2028 and 8% by 2030, increasing to 30% by 2035.

MARKET WATCH-

#1- Oil prices remained largely steady this morning amid market anticipation for the release of US stockpile data, as well as the upcoming US-Russia talks, Reuters reports. Brent crude futures were unchanged at USD 66.12 / bbl by 03.30 GMT, while US West Texas Intermediate (WTI) saw a slight drop of USD 0.06 to trade at USD 63.11/ bbl.

Meanwhile, the Brent-Dubai exchange of futures for swaps (EFS) has narrowed further amid US pressure on Indian imports of Russian oil, Bloomberg reports. Brent’s premium over Dubai crude fell to just USD 0.6 / bbl from USD 3.9 in late June, according to PVM Oil Associates data. The shift reflects growing expectations that Indian refiners will pivot away from Russian Urals crude in favor of medium-density grades from the Middle East under US pressure.

The US push, including tariffs threats, has already impacted October-loading cargoes. Indian state refiners pulled back from Russian oil and are now sourcing from Abu Dhabi, Libya, Nigeria, and the US. The shift also opened an arbitrage window for Atlantic Basin crudes — typically priced against Brent and WTI — to flow into Asia, reshaping regional trade flows, Bloomberg adds.

Could China balance this shift? Chinese refiners are favoring Russian crude over Middle Eastern grades, signaling a reshuffle in global flows, Bloomberg reports, citing London-based market intelligence firm Energy Aspects. Russia’s Urals remains “the most competitive” compared to similar grades from the Middle East, thanks to discounts and steady supply availability, the consultancy said.

ICYMI- Saudi Arabia is expected to export less crude oil to China in September, compared to August volumes that reached a more than two-year high. Aramco is projected to ship about 43 mn barrels to China next month — equivalent to 1.43 mn bbl / d, down from 1.65 mn bbl / d in August.

Russian imports already account for 17% of China’s overseas crude purchases, close to the 20% ceiling the consultancy sees for any single supplier.

#2- Baltic index snaps losing streak: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — dropped 1% to 2,017 points on Tuesday. The capesize decreased 1.7% to 3,261 points, while the panamax index dipped by 1.2% to 1,595 points. The smaller supramax index went up by 0.3% to 1,329 points.

DATA POINTS-

#1- The Saudi Export-Import Bank (Saudi Exim) provided SAR 23.6 bn in credit facilities over the first half of the year, rising 44% y-o-y, it said on X. This total consisted of SAR 8.9 bn for export financing, up 26.2%, and SAR 14.7 bn in export credit ins., up 58.8%.

#2- Jordan’s Aqaba Port’s saw a 19% y-o-y rise in imported containers to 280k during the first seven months (January-July) of 2025, while exported shipments rose 11% y-o-y to 64k containers, Jordanian news agency Petra reports. The number of handled container ships also increased by 38% y-o-y to 345 ships over the same period.

PSAs-

#1- Maersk to apply surcharge on MENA-bound routes: Shipping giant Maersk has announced peak season surcharges for routes that head from Asian ports to the MENA region, according to a statement. The rates — USD 200 for 20ft and 40 ft containers — will be effective starting 22 August and apply to the UAE, Bahrain, Iraq, Jordan, Kuwait, Oman, Qatar, and Saudi Arabia.

#2- Hapag-Lloyd postpones LWS: Shipping giant Hapag-Lloyd is postponing its USD 1k per TEU low water surcharge (LWS) on voyages to and from Brazil’s Manaus Port, due to Amazon water levels receding slower than anticipated, according to a statement. The surcharge will take effect on 1 September for cargo traveling to and from Europe, the Middle East, Africa, and Asia, and on 1 October for cargo to and from North and Latin America,

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CIRCLE YOUR CALENDAR-

The UAE will host the Africa Procurement and Supply Chain Leaders’ Conference on Monday, 25 August until Friday, 29 August in Dubai. The conference will host global industry leaders, policymakers and stakeholders to discuss how AI is changing procurement and supply chain efficiency, sustainability and risk management.

Oman will host Transport Middle East on Monday, 1 September until Wednesday, 3 September in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics.

Saudi Arabia will host the Sustainable Maritime Industry Conference on Wednesday, 3 and Thursday, 4 September in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.

Algeria will host the Intra-African Trade Fair on Thursday, 4 September until Wednesday, 10 September in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.

Oman will host the Comex Global Technology Show on Sunday, 7 September and run till Wednesday, 10 September in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech and cybersecurity.

Saudi Arabia will host the Smart Ports & Logistics Transformation Summit on Monday, 15 September and Tuesday, 16 September in Jeddah. The summit will host over 40 global and local speakers, industry experts and policymakers to explore smart port solutions, port operations and logistics within Saudi Arabia.

Check out our full calendar at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.

ADQ’s Zero Two makes first Southeast Asia move with co-control stake in Evolution Data Centres

ADQ’s Zero Two secures co-controlling stake in Evolution Data Centers: ADQ-owned digital infrastructure firm Zero Two made a strategic investment in Evolution Data Centers, joining US-based Warburg Pincus as a co-owner of the Southeast Asia-focused data centre platform, according to a press release. The financial terms of the transaction were not disclosed.

Zero Two’s investment will fund the expansion of Evolution’s hyperscale-ready, renewable-powered data centers in major Southeast Asian markets, targeting the region’s growing cloud and AI workloads. The firm has expanded its portfolio across Thailand, the Philippines, and Vietnam since Warburg Pincus first backed Evolution in 2022 via a JV.

About Zero Two: Founded in 2022, Zero Two has rolled out over 550 MW of data center capacity in Abu Dhabi and is now targeting global data center and high computing projects. The Evolution investment marks its first foray into Southeast Asia.

The UAE has been doubling down on data centres: ADQ partnered with American energy-focused investment firm Energy Capital Partners earlier this year to invest USD 25 bn in powering data centers, particularly in the US. Meanwhile, here at home, G42 is working on Stargate UAE, a 5 GW AI-optimised campus in Abu Dhabi, with the first gigawatt due in 2026, while Abu Dhabi’s MGX joined Microsoft and BlackRock to launch a USD 30 bn global AI infrastructure fund. State-owned telecom giant du also partnered with Microsoft on an AED 2 bn hyperscale data center in Dubai.

The story also got ink from Reuters.

A flurry of earnings from across the region

ADNOC L&S-

Adnoc Logistics and Services (Adnoc L&S) saw its bottom line climb 14% y-o-y to USD 236 mn in 2Q 2025, while revenues surged 40% y-o-y to roughly USD 1.3 bn, according to an earnings release. These are the company’s highest-ever quarterly results, management said.

In 1H terms: The firm’s bottom line rose 5% y-o-y to USD 420 mn for 1H 2025, while its top line went up 40% y-o-y to USD 2.4 bn for the same period.

Notable segments: The integrated logistics division saw its revenue rise by about 22% y-o-y in 1H, contributing some USD 1.3 bn to the top line. The surge was largely due to higher demand and rates for its jackup barges, along with improved profitability from its Integrated Logistics Solution Platform and chartering activity. The shipping segment also saw its revenues surge 89% y-o-y to reach USD 981 mn despite industry-wide headwinds, which the firm attributed to operational efficiency and the consolidation of fleet revenues from the acquisition of Navig8.

Adnoc L&S updated its full-year guidance, raising its revenue growth forecast for 2025 to the "high 20%s," up from its previous projection of the "mid-to-high 20%s." For net income, it now expects “low to mid double digit y-o-y growth” instead of “low double digit y-o-y growth,” the release said.

The market is bullish on Adnoc L&S: Each of the 16 international financial institutions that cover Adnoc L&S have issued a “strong buy” or “buy” recommendation for the company, citing strong financials and aggressive growth spree and potential. Wam reported on Monday. The recommendations come from analysts at HSBC, Morgan Stanley, and EFG Hermes, among others.

1Q was a mixed bag: Adnoc L&S saw its bottom line decline by 5% y-o-y to USD 185 mn in 1Q 2025, while the top line surged 41% y-o-y to USD 1.2 bn. The revenue uptick was attributed at the time to expanded initiatives, heightened demand, and enhanced operational efficiencies.

AGILITY-

ADX-listed Kuwaiti logistics firm Agility Global saw its revenues rise 8.3% y-o-y to USD 1.2 bn in 2Q 2025, driven by solid operational performance across all segments and heightened demand for its services, according to an ADX disclosure (pdf ). The firm’s net income attributable to equity holders dropped from USD 29.8 mn to USD 24 mn during the same period, according to its earnings release (pdf).

Segment breakdown:

Menzies Aviation saw its revenue increase 9% y-o-y to USD 691 mn in 2Q 2025, on the back of boosted volumes from new operations in Portugal and Spain and steady cargo volumes across its regions of operation. The firm serviced nearly 1.5 mn flights with ground handling and fueling this quarter;
Agility’s fuel logistics arm Tristar reported a 17.3% y-o-y hike in its top line to USD 346 mn, which the firm attributed to its new retail fuel business in Sri Lanka;
Agility Logistics Parks’ top line recorded a 13% y-o-y jump to USD 14 mn in 2Q, citing strong demand for warehousing in Saudi Arabia, which has pushed occupancy rates above 90%.

The company also reported strong 1H revenues, which surged by 12% y-o-y to reach USD 2.3 bn. The firm’s bottom line for equity holders settled at around USD 45 mn, down from USD 60.3 mn a year earlier during the same period.

Looking forward: Kuwait’s Agility KSCP said in June it is planning to invest over KD 100 mn (USD 326.4 mn) through 2030 into Kuwait’s logistics and infrastructure sectors. Key focus areas will include expanding warehousing and industrial real estate capacity, rolling out data centers, supporting the development of economic zones, and modernizing customs systems.

REMEMBER- The firm saw its net income drop some 30% y-o-y to USD 21.4 mn in 1Q on the back of increased depreciation from new operating leases for growth and higher interest expenses following its listing on the ADX in May.

TALABAT-

UAE-based e-commerce firm Talabat saw its adjusted net income rise 25% y-o-y to USD 116 mn in 2Q 2025, while management revenue rose 35% y-o-y to USD 982 mn, according to its earnings release (pdf). The food-delivery provider adjusted its net income for “material non-recurring items to allow for a like-for-like comparison,” including unrealized FX losses on a loan to Talabat Egypt and interest expense on loans and interest income. Gross merchandise value rose 32% y-o-y to USD 2.4 bn, Talabat said in the release.

Talabat’s adjusted EBITDA for the quarter came in at USD 166 mn, rising 31% y-o-y and equivalent to 6.8% of gross merchandise value, down 0.03 percentage points compared to 2Q 2024.

Adjusted net income in 1H 2025 was up 90% y-o-y to USD 222 mn, with management revenue rising 34% y-o-y to USD 1.8 bn. GMV during the first six months of the year was up 31% y-o-y to USD 4.5 bn, while adjusted EBITDA rose 32% y-o-y to USD 305 mn. Adjusted EBITDA for 1H inched down 0.1 percentage point to 6.8%.

Driving the growth: Talabat saw top line growth across its operations in the GCC and non-GCC markets, with growth in its food and grocery and retail verticals. “Demand growth reflected accelerated customer acquisition and increased average order frequency,” according to the release. “The UAE, our largest market, maintained its robust growth trajectory in line with the overall pace of the group. Kuwait, our most established market, delivered impressive growth of over 20% for both the quarter and the first half of the year. Likewise, our food vertical grew more than 20% y-o-y,” Talabat CEO Tomaso Rodriguez is quoted as saying.

Full-year guidance revised upwards: Talabat is now guiding on revenue growth coming in at 29-32% for the full year, revising that figure upwards from a previous range of 18-20%. The company also revised its GMV growth forecast to 27-29%, up from 17-18% previously. Adjusted EBITDA margin was revised to 6.5%, compared to previous forecasts of 6.5-7.0%.

OQ Gas Networks-

Omani state-owned OQ Gas Networks (OQGN) saw its bottom line inch up to OMR 25.4 mn in 1H 2025, rising 13.4% y-o-y, according to an earnings release (pdf). OQGN’s revenues also rose 18.9% y-o-y to OMR 90.1 mn during the six-month period.

The drivers: The firm attributed its bottom line growth to lower operating expenses and financing costs, whereas improved revenues were largely driven by higher returns from construction and transmission activity.

Egypt, Jordan sign 10 cooperation agreements

Egypt and Jordan signed 10 agreements yesterday covering cooperation in areas, including trade, freezones, and transportation, as well as local governance, scientific research, consumer protection, tourism, and more, according to a statement. The agreements were signed at the close of the Egyptian-Jordanian Joint Higher Committee meetings, co-chaired by Prime Minister Moustafa Madbouly and his Jordanian counterpart Jafar Hassan.

DATA POINT- Trade between Egypt and Jordan topped USD 1 bn in 2024, up 33% y-o-y — the two sides agreed to double annual trade to USD 2 bn, a government official told Asharq Business.

Egypt and Jordan agreed to implement joint projects worth USD 500 mn across various sectors, the official said, adding that the projects cover sectors including gas, electricity, infrastructure, transport, ICT, tourism, and housing. Both sides agreed to remove barriers to trade and transport and activate MoUs in health, industrial zones, SMEs, and water management.

A broader cooperation agenda: The talks also touched on the Egypt-Jordan-Iraq trilateral framework, with calls to accelerate joint projects.

Updates on rail and aviation from Iran and the UAE

AVIATION-

#1- MBRAH expands to meet rising aviation demand: Dubai South’s aerospace platform Mohammed Bin Rashid Aerospace Hub (MBRAH) has launched Sky Support Complex, a 179.3k sq ft landside facility in its aerospace supply chain zone, according to Dubai Media Office. Adjacent to Al Maktoum International Airport, the complex hosts 14 premium units with flexible warehouse, office, and commercial spaces offering complete foreign ownership, bonded freezone benefits, and direct connectivity to Dubai South’s aviation ecosystem.

REMEMBER- MBRAH launched the first phase of its aerospace supply chain zone in April. The zone’s first phase — spanning over 1.29 mn sqm — features 11 separate facilities tailored to support engine shops, solution workshops, and component and landing gear maintenance, repair, and overhaul.

More to come: A second phase — currently under development, with completion scheduled in 2Q 2026 — will add a further 1.72 mn sqm and include the region’s first vertical aerospace complex, the Suppliers Complex.

#2- Red Sea International Airport began a phased operational launch, now receiving both domestic and international flights, according to a press release. Domestic flights were shifted to the new Main Terminal Building, while international flights and seaplanes continue to operate from the Air Taxi Terminal.

IN CONTEXT- Operated by daa International and developed by Red Sea Global, the airport is part of the Red Sea megaproject. The main terminal is set for full operation by the end of 2025, targeting a capacity of 1 mn passengers annually by 2030.

#3- International Human Resources expanded into tech and aviation as it seeks to meet rising demand for AI, cybersecurity, and data science skills, CEO Ali Al Harbi told Al Arabiya yesterday (watch, runtime: 5:23). The company is focusing on the growing retail and e-commerce markets, which include 4-5 mn online stores needing recruitment, call center support, and training.

MEANWHILE- The company has fulfilled the requirements to move from the parallel market Nomu to Tadawul’s main market except liquidity standards, which Al Harbi expects to resolve soon to complete the transition.

RAIL-

Iran + Turkmenistan could expand railway connection: Iran is in talks with Turkmenistan to add two new rail lines at Iran’s northeastern Sarakhs railway, near the two countries’ shared border, Mehr News reports. The aim is to reduce cargo traffic at the border and increase the number of cross-border rail links.

Iran is pursuing several rail projects in a bid to become a Eurasian transit hub:

It earmarked USD 1.2 bn in May for the new phase of the Tehran-Aprin rail terminal and dry port connecting China, Turkmenistan, and Kazakhstan;
Later in July, it awarded a contract to the China State Railway Group to electrify around 1k km of railway from the Sarakhs border to the western Razi border to increase China’s container cargo transit through Iran;
It also inked a strategic cooperation plan with Azerbaijan in January to build and operate the Astara rail cargo terminal on their shared border, as part of the International North-South Transport Corridor connecting Russia, India, Iran, and Azerbaijan.

Beijing warns local firms against Nvidia’s H20 chips

China doesn’t want local firms using Nvidia chips: The Chinese government has sent out missives discouraging the use of outdated semiconductors — especially Nvidia’s H20 processors, Bloomberg reports, citing unnamed sources close to the matter. While the guidance stops short of being an outright ban, it strongly advises against using the H20 model for government or national security-related activity, as well as by the private sector, the sources said.

What is Beijing worried about? Chinese officials are concerned that Nvidia's chips may have remote tracking and shutdown capabilities, a claim the company has strongly denied. The government is also strongly encouraging its companies to use domestically produced semiconductors instead of Western-made ones, going so far as to roll out energy efficiency standards that H20 models cannot meet, the news outlet reports.

A short-lived arrangement? Nvidia and Advanced Micro Devices (AMD) reached an agreement with the US government this week to pay a 15% levy on their chip sales to China, which, in return, granted the companies licenses to export semiconductors to China. Nvidia agreed to pay the fee on its H20 chips, while AMD will pay the fee on revenues from its MI308 chips.

Calendar

AUGUST

25-29 August (Monday-Friday): Africa Procurement & Supply Chain Leaders’ Conference, Dubai, UAE

SEPTEMBER

1-3 September (Monday-Wednesday): Transport Middle East 2025, Salalah, Oman.

3-4 September (Wednesday-Thursday): Sustainable Maritime Industry Conference, Jeddah, Saudi Arabia.

4-10 September (Thursday-Wednesday): Intra-African Trade Fair, Algiers, Algeria.

7-10 September (Sunday-Wednesday): Comex Global Technology Show, Muscat, Oman.

15 September (Monday): Logistics Leaders Saudi 2025, Riyadh, KSA

15-16 (Monday-Tuesday) September: Smart Ports & Logistics Transformation Summit, Jeddah, KSA

23 September (Tuesday): TradeWinds Shipowners Forum Greece 2025, Athens, Greece

24-26 September (Wednesday-Friday): Routes World, Hong Kong.

25 September (Thursday): World Maritime Day.

30 September-2 October (Monday-Thursday): Global Rail Transport Infrastructure Exhibition and Conference, Abu Dhabi, UAE.

OCTOBER

The International Maritime Organization (IMO) is set to formally adopt the Net-zero Framework this month, stipulating new fuel standards for ships and a global pricing mechanism for emissions.

1-2 October (Wednesday-Thursday): Saudi Maritime & Logistics Congress, Dammam, Saudi Arabia.

6-8 October (Monday-Wednesday): Maritime Cyprus Conference 2025, Limassol, Cyprus.

7-8 October (Tuesday-Wednesday): Global EV & Mobility Technology (GEMTECH) Forum, Riyadh.

13-17 October (Monday-Friday): The Marine Environment Protection Committee’s second extraordinary session, London, UK.

14-15 October (Tuesday-Wednesday): Investing in Africa Conference and Expo, London, UK.

15 October (Wednesday): Global Trade Review, Cairo, Egypt

28-30 October (Tuesday-Thursday): Borneo International Maritime Week, Sarawak, Malaysia.

NOVEMBER

3-6 November (Monday-Thursday): ADIPEC Maritime and Logistics Exhibition and Conference, Abu Dhabi, UAE.

4-6 November (Tuesday-Thursday): Air Cargo Forum, Abu Dhabi, UAE.

9-11 November (Sunday-Tuesday): TransMea Expo, Cairo, Egypt

17-21 November (Monday-Friday): Dubai Airshow, Dubai, UAE.

24-26 November (Monday-Wednesday): World Advanced Manufacturing Logistics Summit & Expo, Riyadh, Saudi Arabia.

DECEMBER

9-10 December (Tuesday-Wednesday): Rail Industry Summit, El Jadida, Morocco.

16-17 December (Tuesday-Wednesday): Saudi Airport Exhibition, Riyadh, Saudi Arabia.

JANUARY 2026

19-23 January (Monday-Friday): World Economic Forum Annual Meeting, Davos, Switzerland.

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