Emirates Airlines secures HSBC’s backing for a six-jet lease arrangement

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What we're tracking today

TODAY: Emirates secures funds for jet orderbook + Transnational investments updates from DP World, KSA

Good morning, friends. We’re kicking the week off with a packed issue, led by fleet-expansion debt updates from Emirates Airlines, as well as major cross-border investment updates as DP World moves onto India and Saudi ups backing for Syria’s reconstruction. The earnings season is also in full swing — and so far, regional logistics players are largely having solid reports. But first, a quick update from the China-US front…

THE BIG LOGISTICS STORY- US, China pause port fees for one year: Washington and Beijing have agreed to defer reciprocal fees on vessels linked to one another for a year, in yet another move signaling a tentative cooldown in the trade war between the world’s two largest economies, according to a statement. The agreement would spare operators and owners of Chinese-built vessels an estimated annual bill of up to USD 3.2 bn in fees.

IN CONTEXT- The decision came as part of a larger agreement to de-escalate trade tensions between the countries after a meeting between US President Donald Trump and China’s Xi Jinping in South Korea last Thursday. As per the agreement, the US said it will lower tariffs on China by 10%, whereas China will reportedly resume purchases of US soybeans and delay its rare earths export controls regime.

A recap: The US began collecting fees on China-linked vessels last month, following through on a proposal made by Trump in March to impose a flat fee of USD 80 per net tonnage when calling on US ports. Meanwhile, China also announced its own retaliatory fees on US-linked ships last month, with the fees to be applied on ships making their first port entry on a single journey or for the first five voyages within the year.

The story grabbed some ink in the int’l press: Reuters | Bloomberg | Lloyd’s List

HAPPENING TODAY-

The ADIPEC Maritime and Logistics Exhibition and Conference is opening its doors today and will run until Thursday, 6 November in Abu Dhabi. The event is part of the larger ADIPEC Exhibition and Conference, featuring 10 parallel conferences. The event brings together over 250k attendees, including high-level officials and executives from governments and the private sector, representing multiple industries like energy and logistics.

WATCH THIS SPACE-

#1- Israel is hitting pause on its USD 35 bn gas export agreement with Egypt “until Israeli interests are secured and a fair price for the Israeli market is agreed upon,” Israeli Energy Minister Eli Cohen’s office said in a statement. While political tensions between Cairo and Tel Aviv already complicated the agreement, this most recent roadblock is from internal commercial disputes in Israel, the Financial Times cites an unnamed insider as saying.

The US isn’t happy, with US Energy Secretary Chris Wright canceling an upcoming trip to Israel because of it, according to the ministry statement. Cohen’s office alleged that US officials — who have de facto lobbied on behalf of US energy giant and Leviathan gas field co-owner Chevron — had been “exerting a great [amount] of pressure on Israeli officials” to greenlight the agreement.

REMEMBER- The agreement, signed in early August, would see Leviathan partners — led by Chevron and Israel’s NewMed Energy — export 130 bcm of gas to Egypt between 2026 and 2040. Flows will first increase from 4.5 bn cbm in 2025 to 6.5 bn cbm as early as 2026 under the first 20 bn cbm phase of the agreement. Shortly after the agreement was signed, Prime Minister Moustafa Madbouly said that it would in no way affect Egypt’s stance on Palestine.

#2- UAE to hand over 60% of revenues from Islamabad Airport in possible takeover? Abu Dhabi Investment is currently in negotiations with Pakistan after it agreed to take over operations of Islamabad International Airport, with current talks floating the idea of the UAE earmarking a 60% revenue share for Pakistan, Bloomberg reported last week, citing Wasim Tariq, Pakistan’s joint secretary for aviation, at a briefing.

REFRESHER- In September, Pakistan’s cabinet greenlit the transfer of operations of Islamabad Airport to the UAE under a government-to-government model, pending talks ironing out the fine print. The move comes as Pakistan works on outsourcing the management of some state-owned assets — a condition of the International Monetary Fund’s USD 7 bn bailout reform agenda for the country.

Who is out of picture now? Pakistan’s government rejected a bid from a consortium made up of Turkey's Yapi and ERG UK, which had offered to keep 40% of revenues for Pakistan, Tariq said.

More to come: The Pakistani government is looking to transfer the operations of two other major airports in Karachi and Lahore, and is in the process of appointing financial advisers to facilitate the transfer of its remaining two airports. The government is also looking to sell a 51% to 100% stake of the national carrier, Pakistan International Airlines, by the end of the year.

IN OTHER AIRPORT NEWS- Jordan to reopen Amman Civil Airport for commercial operations this month — also known as Marka International Airport — after years of closure, Prime Minister Jafar Hassan said during a Cabinet meeting last week. The move will expand air traffic to the country’s capital in a bid to boost domestic economic and tourism activity.

Background: The airport served as the country’s main airport until the opening of Queen Alia International Airport in 1983. Since then, the airport has been mainly used for non-commercial operations, such as diplomatic, private, and maintenance flights. Jordan Airports Company manages and operates the airport, which has been under rehabilitation for several years.

#3- Syrian roads could soon be destination for cross-border trucking: Turkey is working with Syria to prepare the country to function as a key transit node for a transnational trade corridor linking to Jordan and the GCC, Turkey Today reported last week. Turkey is angling for the launch of the trucking corridor next year, and is working with the Syrian government on rehabilitating road infrastructure, as well as its customs and visa processes, theTurkish Trade Minister Omer Bolat during Turkey-Jordan Joint Economic Commission meeting in Amman.

ICYMI- Turkey and Syria resumed direct road transport after a 13-year halt back in September. The move cut shipping times by allowing Turkish and Syrian trucks to cross the border without transferring goods to locally licensed trucks.

REMEMBER- Turkey’s gone all in on Syria’s logistics sector; participating in a USD 4 bn investment to develop Damascus International Airport by a Qatar-US-Turkey consortium; funneling a spate of investments in industrial zones for SMEs across the country; and a working on a freezone in its bordering Idlib governorate currently.

#4- CMA CGM continue to brave Red Sea despite security risks: The CMA CGM Benjamin Franklin — a vessel with roughly 18k TEU capacity — is seemingly bound for the Suez Canal, which would make it the largest containership to traverse the Red Sea waterway since early 2024, Lloyd’s List reported last week, citing ship tracking data. Large containerships have been slow to return to crossing the Bab el-Mandeb Strait following targeted attacks by Yemen’s Houthi militants, with only 13 transits by six vessels with capacities between 15k TEU and 16k TEU crossing in 9M 2025 — all operated by CMA CGM on Asia–Mediterranean routes.

MARKET WATCH-

#1- Oil prices rose this morning on the back of Opec+ decision to halt hikes throughout 1Q 2026, Reuters reports. Brent crude futures increased by USD 0.24 to USD 65.01 / bbl as of 04:24 GMT, while US West Texas Intermediate (WTI) went up by USD 0.21 to trade at USD 61.19 / bbl.

Zooming in on Opec+ decision: The cartel group has agreed to bump production by another 137k bbl / d next month, then pause hikes throughout 1Q 2026, according to a press release. The group approved the same additional number of barrels for October and November as part of its gradual unwinding of its 1.65 mn bbl / d voluntary cuts. Saudi Arabia’s production share will be at around 10.1 mn bbl / d until March, while the UAE’s will be some 3.41 mn bbl / d. The next meeting is scheduled for 30 November.

The actual output gains have lagged behind official targets, as some member states compensate for past overproduction while others face technical or capacity constraints, Bloomberg reports. With cooling demand in China and rising supply across the Americas, the market is already tipping into oversupply, Bloomberg added, citing trading firm Trafigura Group.

While US sanctions on Russian oil companies helped stabilize prices after a five-month low, it’s too early to fully assess their broader market implications, according to one Opec+ delegate.

Meanwhile in Saudi, the Kingdom is expected to lower its December official selling price for Arab Light crude by USD 1.2-1.5 / bbl, to a premium over the Oman-Dubai average of between USD 0.7 and USD 1 / bbl, Reuters reported on Friday, citing its survey of Asian refining sources. The official selling price remained untouched at USD 2.2 in October and November. Other Saudi grades — Arab Extra Light, Arab Medium, and Arab Heavy — could also see decreases of USD 1.2–1.5 / bbl for December.

Remember, November rates are already down: Aramco reduced its November official selling prices for liquefied petroleum gas, lowering propane to USD 475 per ton (down 4%) and butane to USD 460 per ton (down 3.2%) over rising increased global supply and lower oil prices, Reuters reported on Friday, citing traders.

BUT- Saudi Arabia may implement smaller price cuts due to rising demand from China and India seeking alternatives to Russian crude amid Western sanctions. Additional requests from Japan and South Korea for December-loading Saudi oil — along with limited supply as refineries resume operations after maintenance — are also suggesting lower cuts, Energy Aspects Analyst Richard Jones told the newswire.

#2- Baltic index falls once again: The Baltic Exchange’s dry bulk sea freight index — which tracks rates for the capesize, panamax, and supramax vessel segments — fell nearly 0.9% to 1,966 on Friday, buoyed by broad declines across vessel segments. The capesize decreased by 0.5% to 2,929, while the panamax index eased 1.5% to 1,821. The smaller supramax index shed 0.8% to 1,326.

#3- The Drewry World Container Index increased by 4% to USD 1,822 per 40-ft container on Thursday, according to the latest index readings. The drop comes on the back of market turbulence driven by the US’s tariff policies since April. The container forecaster projects the supply-demand balance to fall in 2H 2025, causing spot rates to fall further.

#4-Global air cargo demand shot up 2.9% y-o-y in September — marking the seventh consecutive month of overall growth, according to data from the International Air Transport Association (IATA) released last week. This was balanced out by increased global capacity – measured in available cargo tonne-km – which jumped up 3% y-o-y.

Carriers from our region saw demand go up 0.6% y-o-y, while capacity surged up 5.5% y-o-y in September — marking the largest increase in regional capacity globally, after Africa.

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CIRCLE YOUR CALENDAR-

The UAE will host the Air Cargo Forum on Tuesday, 4 November until Thursday, 6 November in Abu Dhabi. The forum — hosted by Etihad Cargo — will bring together air freight industry leaders, policymakers, innovators, and stakeholders to discuss industry solutions, tech, strategies, and collaborative initiatives for global air logistics.

Egypt will host the TransMea Expo on Sunday, 9 November until Tuesday, 11 November in Cairo. The expo will host regional and international players in the transport industry to explore tech, new smart solutions, and products for transport and logistics services.

The UAE will host the Dubai Airshow on Monday, 17 November until Friday, 21 November in Dubai. The event will host over 1.5k exhibitors and 148k industry experts from over 150 countries, to discuss air mobility, new MRO breakthroughs, sustainable aviation, startups, and new tech for aircraft simulations.

Saudi Arabia will host the ShipTek International Conference and Awards on Tuesday, 18 November in Al Khobar. The conference will host policy makers, organizations, suppliers, and experts on maritime, offshore, and oil and gas.

Egypt will host the International Procurement Supply Chain Conference on Saturday, 6 December in Cairo. The event will gather over 1k delegates, more than 400 organizations, and over 30 global speakers to discuss the future of trade through keynotes and panel discussions. The discussions will center on Egypt’s transformation in the logistics sector, the future of smart ports and supply chains, as well as digital ecosystems.

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

HSBC to finance Emirates’ six Airbus A350-900 carrier order

HSBC to fund Emirates’ six-plane orderbook: Dubai’s flagship carrier Emirates has tapped HSBC to finance the uptake of six new Airbus A350-900 aircraft, according to a statement. HSBC has already closed financing for five of the six carriers through the Japanese Operating Lease with Call Option (Jolco) structures, while financing for the remaining plane is currently in motion. The exact size of the facility and the delivery timeline were not specified.

Background: Emirates inked a lease agreement with the bank for four of the aircraft back in March. The agreement then marked the airline’s return to the Jolco market — in which the firm was very active between 2014 and 2019, raising over AED 28 bn.

Emirates is looking to diversify funding sources to support its fleet expansion plans. The airline has some 65 Airbus A350-900 carriers in total on order — with deliveries beginning last year and scheduled to run through till 2028.

DATA POINT- At present, Emirates operates a fleet of over 260 aircraft — dominated by long-haul aircraft models Boeing 777s and Airbus A380s. The airline maintains one of the largest orderbooks globally, with up to 205 Boeing 777Xs and 35 Boeing 787 Dreamliners on top of the 65 A350s on order.

This isn’t Emirates’ only funding rodeo recently: Emirates tapped NBD in September to finance the uptake of two Boeing 777-200 long-range freighter aircraft.

DP World to invest additional USD 5 bn in India’s supply chain sector

DP World will invest an additional USD 5 bn in India to strengthen its supply chain network through multimodal connectivity and infrastructure, according to a press release published last week. The announcement — which was made during India Maritime Week 2025, where DP World inked five MoUs with several industrial partners — would raise DP World’s total investments in the country to USD 8 bn.

The signed agreements include:

An MoU between DP World’s feeder and multimodal transportation business Unifeeder Sagarmala Finance Corporation to develop India’s shipping capabilities, focusing on green coastal and short-sea shipping across India;
An MoU between DP World and the Cochin Port Authority to upgrade handling facilities at DP World’s International Container Transshipment Terminal in Kochi;
A tripartite MoU between Drydocks World, Cochin Shipyard, and the Center of Excellence in Maritime and Shipbuilding (CEMS) to improve skill development in shipbuilding and repair;
An agreement between Deendayal Port Authority, DP World, and Nevomo to advance a planned pilot project of MagRail tech over a 750-meter stretch in the port.

This comes a few days after Abu Dhabi was reported to be exploring investing upwards of USD 2 bn in India’s Maharashtra’s ports and shipbuilding sector, under an MoU inked between Abu Dhabi Ports Group, Abu Dhabi Investment Office, and Maharashtra Ports Department.

REMEMBER- DP World already holds an extensive portfolio in India, spanning industrial parks, logistical zones, rail, and ports. The port operator launched operations at the Vallarpadam terminal in the Cochin Economic Zone last year — and operates Mumbai’s Nhava Sheva Business Park and Chennai’s Integrated Chennai Business Park as well. The firm also operates five container terminals in India’s Mundra, Cochin, and Chennai, as well as two in Mumbai.

Saudi Arabia to drive USD bns into Syria’s infrastructure in the next five years

Saudi Arabia is planning a multi-bn-USD reconstruction drive for Syria: Major Saudi companies, including Acwa Power and telecom operator STC, plan to “drive bns of USD of actual capital to Syria within the next five years,” to rebuild Syria’s energy, financial, and telecom sectors, Saudi-Syrian Business Council CEO Abdullah Mando told Reuters on the sidelines of the Future Investment Initiative (FII9) in Riyadh last week.

Investment-led recovery: Syria’s focus is on “reconstruction through investment” rather than aid, Syrian President Ahmed Al Sharaa addressed attendees during the Forum. The country is a trade corridor and has already attracted around USD 28 bn in pledged investments in the first half of the year, nearly USD 7 bn of which was from Saudi companies, state news agency SPA reports Al Sharaa saying. The country has reformed its investment laws to favor investors and enable capital repatriation, with the framework ranked among the world’s top ten, he said.

IN CONTEXT- The World Bank (WB) estimates Syria’s reconstruction needs at USD 216 bn after 14 years of civil war, according to a report (pdf) released last month. The cost, however, could even be much higher, with the WB saying the estimate is a rapid assessment that doesn’t necessarily cover the full impact of the war. The report surveyed the damage in residential buildings (USD 32.7 bn), non-residential buildings (USD 23.4 bn), and infrastructure (USD 52 bn), and has put the cost of reconstruction for infrastructure alone at some USD 81.7 bn.

Sharaa spotlighted investment prospects in real estate, tourism, agriculture, and energy, noting that Syria’s reconstruction needs have opened many windows for foreign investors. The country also holds significant gas reserves.

REMEMBER- Some USD 6.4 bn in agreements were activated during a joint investment roundtable in Damascus last week, focused on exploring new potential investments in priority sectors, including energy, communications, banking, real estate development, mining, and digital transformation. This, built on a July Saudi-Syrian Investment Forum in Damascus, produced 47 agreements worth over SAR 24 bn (USD 6.4 bn), with the real estate sector securing over SAR 7.2 bn.

Getting over the sanctions hump: Despite strong investor interest in Syria thus far, US Caesar sanctions are currently blocking some capital flows, leaving actual spending at “zero,” Mando said. The US lifted the last of its direct sanctions on Syria back in August, but some secondary sanctions — courtesy of the Caesar Act — are still in place, and would require a US Congress vote to officially repeal them. The Caesar sanctions were first introduced in 2019 to target entities and individuals providing material support to the Assad government.

A flurry of 9M earnings from across the region

ADNOC DISTRIBUTION-

Adnoc's retail arm Adnoc Distribution reported a 21.5% y-o-y in net income to USD 221 mn (c. AED 812 mn) in 3Q 2025, exceeding analyst expectations, according to an earnings release published last week.

In 9M 2025, the company’s bottom line surged 15.6% y-o-y to USD 579 mn. This coincided with Adnoc Distribution’s highest-ever 9M fuel volume sales — reaching 11.7 bn liters — and its addition of 85 stations, raising its network scope to 977 service stations. It upgraded its year-end target for service stations to 90-100, up from 60-70 initially, given it has already exceeded its target, with Saudi Arabia getting the bulk of new stations.

Consistent income growth so far: Adnoc Distribution saw 8.6% y-o-y growth in its net income to AED 677 mn in 2Q 2025 as fuel volumes grew, whereas revenues for the period dipped 1.7% y-o-y to AED 8.6 bn due to a global decline in crude oil prices. In 1H 2025, the company recorded bottom line growth of 12.2% y-o-y to AED 1.3 bn, while revenues declined by 2.4% y-o-y to AED 17.1 bn.

MILAHA-

Qatar Navigation’s (Milaha) bottom line surged by 15.4% y-o-y to nearly QAR 1.1 bn in 9M 2025, while its top line climbed up nearly 15.5% y-o-y to QAR 2.46 bn during the same period, according to a statement released last week.

The breakdown: Milaha’s gas and petrochemicals shipping was the firm’s best-performing sector, reporting a QAR 115 mn y-o-y surge in net income for 9M 2025 on the back of the sale of two very large gas carriers in 3Q. Offshore services came in second with a QAR 61 mn increase in net income, largely due to a larger project pipeline and added fleet capacity. Meanwhile, the Maritime and Logistics segment reported a QAR 6 mn gain to its net income y-o-y.

REFRESHER- Milaha saw its net income increase by 7% y-o-y to QAR 671 mn in 1H 2025, while its revenues jumped up 11% y-o-y to QAR 1.6 bn during the same period.

Milaha has been busy adding new routes: The firm launched services to Libya’s Misurata Freezone Port and an additional Turkey–Libya express service. It also launched a new weekly Short Sea Med service, MTX 2, earlier this year to connect Turkey, mainland Spain, and the Canary Islands. The Saudi Ports Authority (Mawani) also added Milaha’s Inta Gulf Express service — with a total capacity of 1k TEUs — to Dammam’s King Abdulaziz Port back in April.

NMDC GROUP-

NMDC had a solid 9M: The UAE’s National Marine Dredging Company (NMDC) Group saw its net income rise 26% y-o-y to AED 2.8 bn in 9M 2025. Meanwhile, the ADX-listed firm’s top line increased 11% y-o-y to AED 20.5 bn during the same period, largely on the back of improved margins and consistent delivery on projects across segments, according to an earnings release (pdf) published last week.

Global drive(r): The firm’s current backlog reached AED 62.3 bn as of September 2025, driven by strategic expansions in global markets. NMDC Group’s total awarded projects in 9M 2025 also reached AED 17.7 bn — with global markets accounting for 38% of the total. The Group secured a USD 1.1 bn EPC contract for a pipeline project in Taiwan and a USD 104 mn contract for a new marina development in Oman, and entered the Philippines market through a USD 610 mn dredging work contract for a harbor project in Manila Bay.

Yearly highlights: NMDC Group’s newly launched logistics arm NMDC LTS finalized its acquisition of a 70% stake in Abu Dhabi-based oilfield services and logistics firm Emdad back in June. The group also inked an MoU with India’s Jawaharlal Nehru Port Authority to invest nearly USD 2.4 bn into Mumbai’s Vadhvan Port earlier in February.

REMEMBER- NMDC Group recorded a 20% y-o-y boost in its 1H net income to AED 1.8 bn, while its revenues rose 10% y-o-y to AED 13.4 bn during the same period.

JAZEERA AIRWAYS-

Jazeera Airways sees record 3Q figures: Kuwaiti low-cost carrier Jazeera Airways saw its bottom line surge 15.9% y-o-y for 3Q 2025, reaching KWD 13.5 mn — marking its highest-ever earnings in 20 years for that period, according to a press release. The airline’s operating revenue also rose 7.5% to KWD 69.4 mn for the same period. This coincides with improvements in passenger figures, with a 3.3% y-o-y rise and a 3.6 % y-o-y increase in the number of flights, despite operational issues linked to geopolitical tensions, management said.

In 9M terms: The carrier’s net income climbed 60.3% y-o-y to KWD 23 mn in 9M 2025, while its top line saw a rise of 4.9% y-o-y to KWD 171.6 mn.

Continuing a trend seen in 1H: Jazeera Airways’ 1H performance saw a 250% y-o-y jump in net income to KWD 9.6 mn. Its operating revenue rose around 3.3% y-o-y to KWD 102.2 mn in 1H.

Beltone Venture Capital exits Morocco’s logistics platform Cathedis with a 100% IRR

Beltone Holding’s Beltone Venture Capital exited Moroccan last-mile delivery logistics platform Cathedis with a 100% internal rate of return, according to a press release (pdf). This transaction marks Beltone Venture Capital’s first regional exit and its third overall since inception.

Moroccan investors acquired the platform: The Moroccan tech company ORA Technologies and Azur Innovation Fund fully acquired Cathedis, marking the first consolidation between Moroccan startups funded entirely with local capital, Wamda reports.

What they said: “We saw a clear opportunity in Cathedis Morocco’s leading last-mile delivery and logistics platform. We invested with vision, supported its growth, and exited with success,” CEO and Managing Partner of Beltone Venture Capital Ali Mokhtar said.

REMEMBER- Beltone Venture Capital has been ramping up its investments in Morocco and at home this year. The company made an undisclosed equity investment in Moroccan eyewear brand LNKO, participated in a USD 1.1 mn seed round for insurtech startup Sehatech, and invested in Sylndr’s USD 15.7 mn series A funding round.

Beltone Venture currently manages USD 50 mn in assets under management and has a portfolio of 21 tech-driven companies across various sectors in the region. It also oversees a USD 5 mn venture debt portfolio with a data-driven investment strategy.

Other Egypt-based also eyeing Morocco’s logistics sector: Cairo-based digital logistics startup Nowlun is planning an entry into Morocco by the end of 2026. The move is part of the firm’s wider regional expansion plan, following the opening of a branch in Saudi Arabia.

Zooming out: Morocco’s freight and logistics market is expanding at a rapid rate, according to a report by Mordor Intelligence. The country’s market size is estimated at USD 13.8 bn in 2025, and is expected to reach USD 16.3 bn by 2030 at a CAGR of 3.41%. Its strategic location between Europe and West Africa, ongoing infrastructure development, roll-out of new freetrade zones, and increasing automotive exports were all cited as main drivers for the predicted growth.

Mawani inks SAR 375 mn agreement with China for plant at Ras Al-Khair Port

PORTS-

Mawani x ZTT Group: The Saudi Ports Authority (Mawani) signed a SAR 375 mn land lease agreement with China’s ZTT Group to build a submarine and underground cable manufacturing plant at Ras Al-Khair Port, the authority said on X. Covering 80k sqm, the facility will produce 500 km of submarine cables, 500 km of underground cables, and 12.5k km of fiber optic cables annually, supporting localization of the cable industry and the Kingdom’s telecommunications sector.

About Ras Al-Khair: Launched in 2016, Saudi’s newest port Ras Al-Khair features 14 berths and a rail connection to mining sites. Spanning a 23 sq km area overlooking the Arabian Gulf, the port was mainly built to serve Ras Al-Khair industrial city, with the capacity to handle up to 35 mn tons of general and bulk cargo, according to Mawani.

TRADE-

#1- QSE-listed Qatari German Medical Devices joined HoldiPharma and Dawah Pharma’s export-focused JV, according to a statement released on Friday from the Public Enterprises Ministry. The Egyptian-US-Qatari strategic partnership inked between the three will see them work towards “establishing an integrated production and supply system inside and outside Egypt.”

REMEMBER- An earlier agreement between the state-owned pharma manufacturer HoldiPharma and US-based Dawah Pharma saw the two form a joint venture aimed at producing and exporting meds and supplements to international markets, with a focus on North America and Europe.

#2- Egypt-based Unionaire Group Technology signed a USD 10 mn contract with a US-based company to supply around 50k refrigerators to the US market in 2026, Al Mal reports, citing Vice President Youssef Osman. Unionaire also invested more than EGP 100 mn over the past year to upgrade its production lines and launch a new range of dual cooling refrigerators — the first of their kind produced domestically, according to a separate report from the outlet.

ZONES-

Indian used cars platform Cars24 will build an AED 55 mn automotive refurbishment hub at DP World’s National Industries Park after the two inked a partnership, according to a statement released last week. Cars24, a unicorn startup valued at over USD 3 bn, will start construction on the 220k sq ft solar-powered facility in November and aims to have it operational by August 2026.

More details: The facility will process more than 100k vehicles annually and be integrated with DP World’s logistics network and economic zones. Its operations will include refurbishment, quality inspections, and post-sales and export support, with a focus on EVs.

Boeing’s commercial delivery rates may still be behind rival Airbus, but the US maker is making a turnaround

Airbus still ahead in delivery rates, but Boeing is making a turnaround: Airbus delivered 507 commercial jets in the first 9M of 2025 — a slight uptick from 2024’s 497 deliveries, according to a press release (pdf) published last week. Meanwhile, Boeing still trails Airbus’ delivery figures for the same period, but the US airplane manufacturer made a big turnaround, delivering 440 aircraft, rising by some 51% y-o-y, according to a press release from last week.

When it comes to 9M orders, Airbus netted 514 new jet orders after accounting for cancellations — a 21% y-o-y dip from 648. On the other side, Boeing said its net orders for 3Q stood at 161 jets. Boeing did not disclose its 9M net new orders figures, but the number could exceed 830 according to our calculations on the condition that no cancellations occurred on the orders reported in the company’s 1Q and 2Q earnings.

Airbus saw its consolidated revenues rise 7% y-o-y to reach EUR 47.4 bn for 9M 2025, largely driven by solid performance across segments, especially in the defense and helicopter-making segments. The European manufacturer’s net income posted a robust 46% y-o-y surge to EUR 2.6 bn.

Meanwhile, Boeing’s top line rose 28% to USD 65.5 bn, but its net income remained in the red, with losses widening by USD 500 mn to reach USD 6.4 bn.

Calendar

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.

11-13 November (Tuesday-Thursday): Freightcamp, Bangkok, Thailand.

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

18 November (Tuesday): ShipTek International Conference and Awards, Al Khobar, Saudi Arabia.

DECEMBER

6 December (Saturday): International Procurement Supply Chain Conference, Cairo, Egypt.

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.

27-28 January (Tuesday-Wednesday): SkyMove Air Cargo MENA, Riyadh, Saudi Arabia.

27-28 January (Tuesday-Wednesday): Middle East ProcureTech Summit, Dubai, UAE.

FEBRUARY 2026

4-5 February (Wednesday-Thursday): Breakbulk Middle East, Dubai, UAE.

4-5 February (Wednesday-Thursday): MRO Middle East, Dubai, UAE.

15-17 February (Sunday-Tuesday): World Advanced Manufacturing Logistics Summit and Expo, Riyadh, Saudi Arabia.

25-27 February (Wednesday-Friday): Air Cargo Africa, Nairobi, Kenya.

MARCH 2026

10-12 March (Tuesday-Thursday): World Cargo Symposium, Lima, Peru.

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