{"id":78981,"date":"2024-06-04T00:00:00","date_gmt":"2024-06-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/?post_type=issue&#038;p=78981"},"modified":"2025-12-15T14:45:21","modified_gmt":"2025-12-15T14:45:21","slug":"adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/logistics\/issues\/adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction\/","title":{"rendered":"Adnoc L&#038;S acquires 80% of Navig8 in USD 1.04 bn transaction"},"content":{"rendered":"<section id=\"78983\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78983\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">1<\/div>\r\n\r\n                    <p class=\"f-graphik\">What we're tracking today<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/today-adnoc-ls-acquires-80-of-navig8-for-usd-1-04-bn\/\">\r\n                            TODAY:  Adnoc L&amp;S acquires 80% of Navig8 for USD 1.04 bn                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/today-adnoc-ls-acquires-80-of-navig8-for-usd-1-04-bn\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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We also have M&A news emerging from UAE and this month\u2019s PMI reports from Saudi, Egypt and Kuwait. Let\u2019s dive right in.<\/p>\n<p class=\"tag-border-left\">WATCH THIS SPACE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt1\"><\/a>#1- Qatar Airways is in talks with Australia\u2019s government to boost the number of <\/strong><strong>routes it operates to the country<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/qatar-airways-talks-with-australia-increase-flights-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing comments made by CEO Badr Mohammed Al Meer. The carrier is expecting to hear positive news from Australia within the next few months, Al Meer added. An earlier request for additional routes was <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/bb755f71-c443-49db-862f-b08306dcb97c\/why%253cmark%253e-australia%253c%2Fmark%253e-is-blocking-qatar-airways-from-increasing-flights-%2B-behind-the-us%25e2%2580%2599-seizure-of-iranian-tanker-suez-rajan\" style=\"\" rel=\"noopener\">turned down<\/a> by Australia last year, with Australia\u2019s government citing invasive body searches of <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2020\/10\/27\/world\/middleeast\/qatar-airport-baby.html\" style=\"\" rel=\"noopener\">five Australian women<\/a> at Hamad International Airport in 2020 as a reason for the block and denying allegations that it was being pressured by Australian flag carrier Qantas. Australia\u2019s decision to cap Qatar Airways\u2019 flights to Australia has also hit Australian farmers looking to ship fresh boxed meat to regional markets.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt2\"><\/a>#2- I<\/strong><strong>srael will allow more oil tankers to dock at its Red Sea Eilat port despite <\/strong><strong>environmental <\/strong><strong>concerns as it attempts to boost energy security amid regional conflicts<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/sustainability\/climate-energy\/israel-aims-boost-red-sea-oil-deliveries-despite-environmental-risks-2024-05-30\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing officials and government documents. The Israeli government intends to revoke restrictions imposed in 2021 by the Environmental Protection Ministry which capped the amount of oil that can be unloaded at a jetty in Eilat to 2 mn tons of oil, the newswire says. The jetty belongs to state-owned Europe Asia Pipeline Co (EAPC) \u2014 which operates a pipeline cutting across Israel and connecting the Red Sea and the Mediterranean Sea \u2014 and is touted as an alternative to tanker transits via the Suez Canal. Israel\u2019s Netanyahu-led government is lobbying for lower restrictions on EPAC, including boosts to volumes unloaded at Eilat and allowances for the uptake of fuels both for trade and domestic use, the newswire added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Reduced restrictions on EAPC might resurrect a previously canceled 2020 USD 50 mn oil <\/strong><strong>agreement with the UAE<\/strong> which would have seen some 50 tankers offload Emirati oil cargoes at the Eilat terminal every year, the newswire explained. Israel\u2019s environment ministry had blocked the arrangement from proceeding by imposing the 2 mn tons of oil cap, but recent developments have highlighted the strategic value of EPAC. Israel currently imports most of its oil via Mediterranean ports at Ashdod, Ashkelon, and Haifa, Reuters explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MARKET WATCH- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><\/strong><strong>Opec+<\/strong><strong> may be hinting at a shift in its production policy<\/strong> as the fine print on its latest decision reveals it will gradually phase-out output cuts as early as October 2024, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2024-06-03\/opec-says-goodbye-to-its-100-a-barrel-oil-quest\" style=\"\" rel=\"noopener\">Bloomberg\u2019s Javier Blas<\/a>. This could either mean the group is reversing its course, growing eager to pump more oil into the market, or strategically shifting away from its USD 100-a-barrel oil target, Blas wrote. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Giving up the quest for \u201ctriple-digit prices\u201d would not be a mistake<\/strong>, he added, saying that \u201csomewhat lower prices could help it in the long-term: by easing global inflation and therefore prompting lower interest rates and higher economic growth in emerging economies; and by removing the implicit subsidy that Opec+ was granting to its US shale rivals.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There is no telling whether the market can digest more oil: <\/strong>Opec\u2019s planned phase-out is sparking debate among pundits about whether market conditions are ready to absorb the group\u2019s extra barrels, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/opec-has-outline-deal-extending-key-oil-production-cuts\" style=\"\" rel=\"noopener\">Bloomberg reports<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, <\/strong><strong>gov\u2019t<\/strong><strong> is playing the long game: <\/strong>\u201cWe are waiting for interest rates to come down and a better trajectory when it comes to economic growth ... not pockets of growth here and there,\u201d Energy Minister <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/opec-seen-prolonging-cuts-2024-into-2025-two-sources-say-2024-06-02\/\" style=\"\" rel=\"noopener\">Prince Abdulaziz bin Salman told Reuters<\/a> on the sidelines of the Opec+ meeting on Sunday. \u201cWe will maintain our precautious and preemptive approach,\u201d <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/opec-has-outline-deal-extending-key-oil-production-cuts\" style=\"\" rel=\"noopener\">he added<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>BACKGROUND- <\/strong><strong>Opec+<\/strong><strong> extended crude oil production cuts <\/strong>during its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">meeting in Riyadh on<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/edition\/am\/32c67b87-a1a9-43a2-bba0-acc64f3e6962\/aramco-book-is-fully-covered-in-first-hours,-will-close-on-thursday\/23b2bb82-242d-42f7-a587-6812413add07\" style=\"\" rel=\"noopener\">Sunday<\/a>. Production will remain unchanged until the end of this September, when the group will begin phasing out cuts over a 12-month period.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a id=\"wwtt3\"><\/a>Oil prices fell over 3% yesterday <\/strong>to their <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">lowest in close to four<\/a><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/oil-prices-slip-despite-opec-production-cut-extension-2024-06-03\/\" style=\"\" rel=\"noopener\">months<\/a> as traders reacted to the Opec+ meeting. Brent crude futures fell by an additional 0.63% this morning in early trading to USD 77.87 a barrel at 0343 GMT and US West Texas Intermediate crude futures dipped 0.51% USD 73.71 a barrel.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Investors have purchased petroleum contracts for the first time in seven weeks<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/us-oil-futures-draw-renewed-interest-hedge-funds-kemp-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Hedge funds and investors snapped up some 21 mn barrels in the top six futures and option contracts for the seven days ending 28 May, the newswire said. The purchases represented a turnaround following six weeks of selling which saw 304 mn barrels offloaded by investors since 9 April, ICE Futures Europe and US Commodity Futures Trading Commission data showed. The majority of purchases (upwards of 16 mn barrels) represented closeouts on bearish short positions, with a minority (upwards of 6 mn barrels) seeing the establishment of long bullish positions, Reuters explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSA-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Jordan\u2019s Aqaba Container Terminal\u2019s operating system database will be down <\/strong><strong>today between 9:00 AM and 5:00 PM local time<\/strong><strong>,<\/strong> due to an update, according to a <a target=\"_blank\" href=\"https:\/\/www.apmterminals.com\/en\/aqaba\/news\/latest-news\/2024\/240603-system-maintenance\" style=\"\" rel=\"noopener\">statement<\/a>. The N4 system (with all components including XPS, ECN4, N4 Mobile, N4 Billing), Crane OCR, Integrations with Stakeholders, EDI Messages, Berth Planner, and DPOS services will be inaccessible during the maintenance window, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Maersk is contending with high terminal congestion at Mediterranean and Asian <\/strong><strong>ports, incurring delays <\/strong><strong>and reshuffles to schedules, <\/strong>according to a <a target=\"_blank\" href=\"https:\/\/www.maersk.com\/news\/articles\/2024\/06\/03\/blanking-far-east-asia-to-med-services\" style=\"\" rel=\"noopener\">notice<\/a>. Delays have led the carrier to cancel trips, introducing two blank sailings to Qingdao, China and Busan, Korea to its schedule.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"logistics\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanon will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.emmc.me\/overview\/\" style=\"\" rel=\"noopener\">East Med Maritime Conference<\/a><\/strong><strong> on Thursday, 27 June<\/strong> in Beirut. The event will gather industry leaders to discuss the latest developments in shipping, maritime, and offshore industries to discuss industry innovations, alternative fuels, and decarbonizing emissions in the maritime sector and ports. <\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><strong>Turkey will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.aci-europe-events.org\/\" style=\"\" rel=\"noopener\">ACI Europe Annual Congress<\/a><\/strong><strong> on Tuesday, 2 July to Thursday, 4 July<\/strong> in Istanbul. The event will bring together 500 C-level airport executives, as well representatives from businesses engaged with airports, airlines, aircraft manufacturers, and other stakeholders. The event will highlight discussions on the current state of the airport industry, geopolitics, the Turkish market, resilience, sustainability, and the diversification of revenues.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/israel\/\">Israel<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/ports\/\">PORTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            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class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78986\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">2<\/div>\r\n\r\n                    <p class=\"f-graphik\">M&amp;A Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction\/\">\r\n                            Adnoc L&amp;S acquires 80% of Navig8 in USD 1.04 bn transaction                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" 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              \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/292.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78987\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction\/292-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/292.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"292.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/292.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/292.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78986\" class=\"content-area-description single-story post-78986 post type-post status-publish format-standard has-post-thumbnail hentry category-ma-watch-2 tag-adnoc-logistics tag-ma-watch tag-shipping-maritime tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.12bb4f97-8028-4445-ac2d-0f6d6955eaae.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc L&S snaps up Navig8: <\/strong>Adnoc L&S is acquiring multinational shipping pool operator Navig8 in a USD 1.04 bn transaction, with transfer ownership retroactively effective from 1 January 2024, according to a <a target=\"_blank\" href=\"https:\/\/adnocls.ae\/en\/news-and-media\/press-releases\/2024\/adnoc_ls-to-acquire-navig8\" style=\"\" rel=\"noopener\">press release<\/a>. The company will snap up an 80% stake for USD 1.04 bn now, before buying the remaining 20% stake in Navig8 in 2027 for an additional consideration ranging from USD 335 mn to USD 450 mn. The agreement is pending regulatory approval, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The acquisition will see Navig8 retain its management, operations, and branding<\/strong>, the statement also said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A boon for Adnoc L&S:<\/strong> The first full financial year following the acquisition is expected to see a minimum 20% boost to Adnoc L&S\u2019 earnings per share, the statement said. The acquisition is also expected to save Adnoc L&S some USD 100 mn per year in technical management costs and costs associated with bunkering operations, the statement explained. The acquisition will also boost Adnoc L&S\u2019 services portfolio to include bunker trading, pooling and other services, and expand its footprint to Navig8\u2019s 15 global locations. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All part of the big post-IPO plan:<\/strong> The latest acquisition comes as part of an expansion strategy unveiled ahead of Adnoc L&S\u2019 landmark <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/ac69af8c-3fcc-44df-9a3b-8fabb3b50291\" style=\"\" rel=\"noopener\">USD 769 mn IPO last year<\/a>, which will see it shell out <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/7d3322dc-3aba-4228-bd84-1f3f75ea73c9\/%253cmark%253eadnoc%253c%2Fmark%253e-l&s%25e2%2580%2599s-net-income-surged-34%2525-y-o-y-in-1q-2024\" style=\"\" rel=\"noopener\">USD 5 bn in investments<\/a> in the medium term, the statement said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Navig8: <\/strong>Established in 2007, <a target=\"_blank\" href=\"https:\/\/www.navig8group.com\/about-us\/\" style=\"\" rel=\"noopener\">Navig8<\/a> is a fully integrated shipping management service provider. Apart from a company-owned 32 vessel tanker fleet, the outfit also operates and charters other vessels. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/adnoc-logistics\/\">ADNOC Logistics<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/ma-watch\/\">M&amp;A WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78988\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78988\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">3<\/div>\r\n\r\n                    <p class=\"f-graphik\">Aviation<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/\">\r\n                            Earnings, SAF, order books and more from the IATA AGM in Dubai                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Earnings, SAF, order books and more from the IATA AGM in Dubai&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/&title=Earnings, SAF, order books and more from the IATA AGM in Dubai\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Earnings%2C+SAF%2C+order+books+and+more+from+the+IATA+AGM+in+Dubai+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F06%2F04%2Fearnings-saf-order-books-and-more-from-the-iata-agm-in-dubai%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/312.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78989\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/earnings-saf-order-books-and-more-from-the-iata-agm-in-dubai\/312-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/312.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"312.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/312.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/312.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78988\" class=\"content-area-description single-story post-78988 post type-post status-publish format-standard has-post-thumbnail hentry category-aviation tag-airbus tag-aviation tag-boeing tag-qatar-airways wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.242231d8-9b03-4682-8dd4-629cdcc37bfa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>All IATA happenings in Dubai: <\/strong>The World Air Transport Summit and International Air Transport Association (IATA) will wrap its annual general meeting and the World Air Transport Summit today in Dubai and here\u2019s the news that emerged on day two of the conference.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AN OUTLOOK ON EARNINGS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Middle Eastern carriers are set to <\/strong><strong>rake in some USD 3.8 bn in net income in 2024<\/strong>, up from USD 3.1 bn a year before, according to an IATA <a target=\"_blank\" href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-03-01\/\" style=\"\" rel=\"noopener\">press release<\/a>. The region\u2019s aviation sector benefits from robust economies and traffic at hubs, with the UAE continuing to attract visitors and KSA\u2019s tourism and infrastructure investments driving strong growth in cargo and passenger figures, IATA notes. Robust demand for air travel is keeping up with carrier efforts to boost capacity. Geopolitical risks represent the most salient threat to the regional sector, with Levantine carriers seeing greater exposure. GCC carriers are less likely to be affected unless tensions between Iran and Israel flare up, IATA said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the global side:<\/strong> The global aviation sector is forecasted to see USD 30.5 bn in net income this year, with revenues reaching USD 996 bn, an all time high, IATA said. Total air cargo volume is forecasted to hit some 62 mn tonnes this year.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE STATUS ON SAF-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SAF production is set to triple:<\/strong> Sustainable Aviation Fuels (SAF) production in 2024 is set to hit 1.9 mn liters, representing 0.53% of the aviation sector\u2019s fuel requirement and on track for tripling target, <a target=\"_blank\" href=\"https:\/\/wam.ae\/en\/article\/b3goilc-sustainable-aviation-fuels-production-triple-2024\" style=\"\" rel=\"noopener\">Wam<\/a> reports. \u201cSAF will provide about 65% of the mitigation needed for airlines to achieve net zero carbon emissions by 2050. So the expected tripling of SAF production in 2024 from 2023 is encouraging. We still have a long way to go, but the direction of exponential increases is starting to come into focus,\u201d IATA Director General Willie Walsh said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And there\u2019s a registry in progress: <\/strong>The IATA plans to launch a SAF Registry in 1Q 2025 to hasten adoption by tracking and reporting emissions cutbacks attributed to the biofuel, according to a <a target=\"_blank\" href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-02-02\/\" style=\"\" rel=\"noopener\">press release<\/a>. Emirates and Qatar Airways are regional carriers supporting the registry, alongside United Airlines, Air France, Air Canada, American Airlines, Singapore Airlines, Japan Airlines, DHL Group, and others. Airbus, Boeing, and GE Aerospace represent the OEMs supporting the initiative, together with fuel producer World Energy, IATA said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will it work?<\/strong> The registry will allow carriers to purchase SAF batches that are certified and tracked internationally, allowing carriers to account for their emissions reductions accurately, IATA explained. The initiative will also be neutral with regards to regulations and SAF type, allowing it to operate across different jurisdictions. Moreover, the registry will assist airlines in their efforts to meet compliance for carbon offset mandates, including the Carbon Offsetting Reduction Scheme for International Aviation (CORSIA) and the EU Emissions Trading Scheme (ETS), IATA explained. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">A LOOK AT THE ORDER BOOKS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar Airways<\/strong><strong> is reportedly close to making a decisio<\/strong><strong>n on a major widebody order <\/strong><strong>that will be split between Boeing and Airbus,<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-06-02\/qatar-airways-closes-in-on-major-boeing-airbus-widebody-order\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing sources close to the matter. The order could include as many as 200 jets with a decision expected at the UK\u2019s Farnborough Air Show next month, unnamed sources said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s the split?<\/strong> The carrier is looking to order a mix of Airbus A350 and Boeing 777X widebodies, but the split has not been finalized, the sources also said. Qatar Airways already has 74 pending orders for 777Xs and 18 for A350s, data from Airbus and Boeing showed.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This is not the first we hear of this:<\/strong> The Qatari carrier issued a Request for Proposals (RFP) to Airbus and Boeing for a \u201cbig\u201d order for new aircraft, its CEO Badr Al Meer said in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/4bf504d0-0c6b-4d87-a51d-73bcc364bbc8\/%253cmark%253eqatar%253c%2Fmark%253e%253cmark%253e-airways%253c%2Fmark%253e-shops-around-for-a-new-order-of-up-to-150-widebody-jets\" style=\"\" rel=\"noopener\">March<\/a>. Earlier reports had however indicated that the upcoming order would be composed of 100 to 150 Boeing 777X and Airbus A350 aircraft, but this has since been ramped up to 200.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar Airways needs a large order to keep up with regional rivals, <\/strong>Bloomberg writes. Riyadh-based, PIF-owned airline Riyadh Air <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/a0cea0cf-ea07-461e-b2e5-2f0f2095724f\/what-boeing%25e2%2580%2599s-recent-bout-of-bad-press-means-for-the-order-books\" style=\"\" rel=\"noopener\">purchased 39 787-9s<\/a>, with options for an additional 33 787-9s last year at the 2023 Paris Air Show and is looking to launch next year with an all Boeing fleet. Emirates also ordered 90 Boeing 777X, and an additional five 787s at a value of <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/d6a3c498-3013-40f5-a081-47ab9e26fc92\/boeing-scores-big-with-regional-airlines-at-dubai-airshow-%2B-dubai%25e2%2580%2599s-first-unmanned-aerial-vehicle-unveiled\" style=\"\" rel=\"noopener\">USD 52 bn<\/a> in November 2023. These latest orders have placed additional pressure on Qatar Airways to revamp its fleet in order to maintain growth momentum, Bloomberg explained.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>I<\/strong><strong>sraeli flag carrier El Al must take a de<\/strong><strong>cision soon on an order for narrow-body <\/strong><strong>jets from Airbus and Boeing or risk losing delivery slots, <\/strong><a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/el-al-must-make-airbus-boeing-order-decision-soon-ceo-says-2024-06-03\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports, citing statements by CEO Dina Ben Tal Ganancia at the IATA conference in Dubai. \u201cWe will probably want to take a decision soon, otherwise we're going to lose the slots,\u201d Ben Tal Ganancia said. El Al operates an all Boeing fleet, but is weighing its options on whether to go with Airbus\u2019 A321neo narrow-body jetliner or Boeing\u2019s 737 Max for a 30 aircraft order, the newswire said. The airline should be deciding within a few weeks on the order which is expected to be valued at USD 2 bn, CFO Yancale Shahar told Reuters. El Al hopes to take deliveries between 2026 and 2027, while acknowledging that Airbus\u2019 order books are full until 2029, Ben Tal Ganancia also said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">IPO AND OTHER PLANNING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Airways is pushing forward with plans for its IPO on the ADX<\/strong>, with the company \u201cworking very hard to make it happen whenever it is the time,\u201d Etihad CEO Antonoaldo Neves told Bloomberg in an interview (<a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-06-03\/etihad-ceo-preparing-for-ipo-working-on-transparency-video\" style=\"\" rel=\"noopener\">watch, runtime: 4:34<\/a>). Etihad owners told Neves to run the company as if it were listed, he adds in the interview. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> ADQ is <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/edition\/uae\/15137683-1576-4c48-831e-f813656e222f\" style=\"\" rel=\"noopener\">considering listing Etihad<\/a> on the public market \u201cas soon as this year,\u201d with the specific timing and size of the offering still undecided. ADQ is eyeing going after both a traditional IPO and direct listing, and has <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/fb6668e9-b741-4d46-90fd-c0709ca49bf5\/%253cmark%253eetihad-airways%253c%2Fmark%253e-moves-forward-with-planned-ipo\" style=\"\" rel=\"noopener\">tapped banks<\/a> to advise on its planned IPO on the ADX. Etihad would be the first major Gulf carrier to trade publicly if the IPO goes through.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Emirates Airlines is reviewing its contingency plans after the April floods cost it AED <\/strong><strong>400 mn <\/strong>in damages and claims, Emirates chief Tim Clark told a media briefing at the International Air Transport Association (IATA) meeting in Dubai, according to <a target=\"_blank\" href=\"https:\/\/www.thenationalnews.com\/business\/aviation\/2024\/06\/03\/emirates-boss-says-record-uae-rain-cost-airline-110-million\/\" style=\"\" rel=\"noopener\">the National<\/a>. \u201cWe've got to be far more aggressive, if you can call it that, and if necessary, stop the operations and [grapple] with all the fallout,\u201d he said. The airline needs to spend more on manpower, ground equipment, and training in order to be more prepared if a similar crisis happens again, Clark added.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/airbus\/\">Airbus<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/boeing\/\">Boeing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/qatar-airways\/\">Qatar Airways<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78990 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"78990\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/78990\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78990\" class=\"content-area-description single-story post-78990 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/yanmuparks.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2023\/12\/425.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78991\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78991\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">4<\/div>\r\n\r\n                    <p class=\"f-graphik\">Purchasing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/non-oil-business-activity-is-looking-up-in-egypt-saudi-and-kuwait-in-may\/\">\r\n                            Non-oil business activity is looking up in Egypt, Saudi, and Kuwait in May                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/non-oil-business-activity-is-looking-up-in-egypt-saudi-and-kuwait-in-may\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); 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Egypt\u2019s headline PMI jumped to its highest in nearly three years, while Saudi Arabia\u2019s headline figure dipped during the month but continued to signal strong expansion in the country\u2019s non-oil activity. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> The all-important 50.0 mark is the threshold separating contraction from growth. Anything above 50 denotes expansion, while anything below indicates contraction.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>First up, Egypt:<\/strong> Egypt\u2019s headline PMI figure rose to 49.6 in May, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/94e9fa3e-b30c-4885-90e7-e4d40bb5e66b\/non-oil-private-sector-activity-dips-in-egypt-and-lebanon,-while-egypt-sees-inflation-cooling\" style=\"\" rel=\"noopener\">47.4 in April<\/a> and its highest reading in 33 months, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/314.pdf\" style=\"\" rel=\"noopener\">S&P Global\u2019s Egypt PMI (pdf)<\/a>. Although the reading remained slightly below the 50.0 expansion mark, the \u201cindex signaled only a marginal decline in operating conditions,\u201d the report notes. Non-oil activity began stabilizing during the month amid continued inflationary cooling, supporting improvements in new orders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New order volume is on its way to recovery as FX stability takes hold:<\/strong> Inflationary pressures in Egypt continued to ease last month, with purchasing managers polled in the survey indicating that wider availability of FX \u2014 in addition to a lower FX rate \u2014 helped to reduce input costs, particularly for imported goods. \u201cNotably, the rate of purchase price inflation slid to its lowest in four years, with the manufacturing and construction sectors even recording outright decreases in costs,\u201d the report notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The easing of input cost inflation meant that output and new orders came closer \u201cto the<\/strong><strong> 50.0 growth threshold,\u201d<\/strong> and further containment of output prices \u201cshould give customers greater confidence to spend,\u201d S&P Global Senior Economist David Owen said. New export orders increased \u201cfor the second time in three months\u201d as foreign demand for Egypt continued to recover, the report said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s been a bit of a patchwork across sectors:<\/strong> While the services and construction sectors saw improved business activity during the month, \u201congoing downturns in industries such as manufacturing and wholesale & retail show that the recovery is still lopsided and may take more time to spread across the rest of the economy,\u201d Owens notes. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Confidence is booming:<\/strong> Business optimism improved in May, with businesses expressing more confidence in improved economic conditions buoying further sales growth and sustained deceleration of inflation. Companies grew staff numbers again in anticipation of order growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait similarly saw improved non-oil business performance during the month<\/strong>, with output growth soaring at its fastest pace since the covid-19 pandemic, according to Kuwait\u2019s <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/316.pdf\" style=\"\" rel=\"noopener\">S&P Global PMI (pdf)<\/a>. The headline figure rose to 52.4 in May, up from <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/316.pdf\" style=\"\" rel=\"noopener\">51.5 in April<\/a>, signaling \u201ca steep expansion of new orders,\u201d and marking the sixteenth consecutive month in which the non-oil private sector was in expansion territory. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Input costs were up, but competitive pricing helped reel in new orders:<\/strong> Input costs saw a \u201csharp rise\u201d in May, with panelists pointing to \u201cspend on advertising and higher prices for computing equipment, raw materials, and spare parts,\u201d the report says. Despite the continued rise, prices increased at their softest pace since the beginning of 2024, while output inflation \u201cremained modest\u201d as companies looked to maintain competitive pricing. Purchasing activity and inventory continued to grow during the month, albeit at a slower pace due to input cost inflation, the report noted. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Employment isn\u2019t growing fast enough to keep up with new orders:<\/strong> Although firms increased staffing levels in May, \u201cthe rate of job creation was only marginal and insufficient to prevent the strongest build-up of outstanding business in the survey\u2019s history,\u201d S&P Global Market Intelligence Economics Director Andrew Harker warned. Companies will need to increase staffing further to help keep up with backlogs and \u201csatisfy customer requirements in a timely manner.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business confidence in Kuwait hit its highest level year-to-date<\/strong>, supported by new orders growing at the fastest pace in the series history, \u201cexcluding the rebound in June and July 2020 as covid-19 pandemic restrictions were loosened.\u201d Purchasing managers also reported new export orders growing at a quicker pace in May. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in Saudi, business activity remained firmly in expansion territory, despite recording <\/strong><strong>lower expansion rates.<\/strong> Non-oil business activity in the Kingdom continued to grow in May, supported by sustained growth in demand and new orders, according to the <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/6\/315.pdf\" style=\"\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a>. The headline purchasing managers\u2019 index inched down m-o-m to 56.4 in May, compared to 57.0 <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/b9f3ce7f-5457-4a24-9523-3d6c9968912e\/ksa%25e2%2580%2599s-non-oil-private-sector-witnessed-steady-growth-in-april-while-uae-experienced-a-dip\" style=\"\" rel=\"noopener\">in April<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Kingdom\u2019s non-oil economy is still growing \u2014 and competition is getting stiffer:<\/strong> Non-oil businesses reported increases in new orders during the month as demand in the local market remained robust, although the rate of increase in sales softened. \u201cSome companies reported a slowing of market conditions and difficulties gaining new customers due to high competition,\u201d the report says. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> The output sub-index fell again to 60.1 last month, down from 61.9 in April, with the sub-index for new orders following the same downward trend to settle at 59.5, down from 61.0 the month prior, according to <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/middle-east\/saudi-non-oil-activity-growth-slows-may-pmi-shows-2024-06-04\/\" style=\"\" rel=\"noopener\">Reuters<\/a>. Firms continued to shore up their inventories as they \u201csought to prepare for strong sales performances in the future,\u201d Riyad Bank said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Input costs saw \u201ca solid increase\u201d during May<\/strong>, although non-oil firms reported easing purchasing price inflation compared to the start of the year. \u201cNevertheless, the passing on of higher costs to customers remained only partial, as indicated by a marginal rise in selling prices.\u201d Firms continued to be cautious with their pricing as competition grew stiffer, and offered further price markdowns in a bid to gain new customers and orders. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Expectations for more sales growth led inventories to rise again in May<\/strong>, although \u201cthere was some evidence that firms had overreached in their inventory targets and were readjusting purchases, as the rate of growth in new input buying slowed sharply to a 32-month low.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Higher employment despite lower optimism:<\/strong> Business confidence fell in May, hitting its lowest since January amid lower expectations of sales growth. However, employment levels grew during the month as firms looked to reduce their order backlogs. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/purchasing\/\">PURCHASING<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/supply-chains\/\">supply chains<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78993\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78993\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">5<\/div>\r\n\r\n                    <p class=\"f-graphik\">Rail<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/\">\r\n                            Etihad Rail + CSP Abu Dhabi ink rail transport agreement                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Etihad Rail + CSP Abu Dhabi ink rail transport agreement&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/&title=Etihad Rail + CSP Abu Dhabi ink rail transport agreement\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Etihad+Rail+%2B+CSP+Abu+Dhabi+ink+rail+transport+agreement+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F06%2F04%2Fetihad-rail-csp-abu-dhabi-ink-rail-transport-agreement%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1280.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78994\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/etihad-rail-csp-abu-dhabi-ink-rail-transport-agreement\/1280-jpg-6\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1280.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"1280.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1280.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1280.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78993\" class=\"content-area-description single-story post-78993 post type-post status-publish format-standard has-post-thumbnail hentry category-rail tag-etihad-rail tag-rail tag-uae wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.aad5e22e-5236-4ea8-952a-1474af5c8bfa.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Etihad Rail + CSP Abu Dhabi partner on rail transport:<\/strong> UAE rail operator Etihad Rail has inked an agreement with Cosco Shipping Ports Abu Dhabi Container Freight Station (CSP) to boost logistics, supply chains, and connectivity across the UAE, according to a <a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/etihad-rail-and-csp-abu-dhabi-cfs-sign-mou-for-integrated-rail-transport-services-lbexwk1c\" style=\"\" rel=\"noopener\">press release<\/a>. No investment ticket or timeline were disclosed as part of the statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> CSP will use Etihad Rail to move goods between Khalifa Port and other logistics hubs and industrial zones within the UAE for better resource, time, and asset management, the statement notes. Etihad Rail\u2019s freight rail terminals will also be used as storage and distribution hubs for CSP goods, streamlining logistics operations by establishing strategic inland nodes for cargo consolidation and deconsolidation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Boosting sustainability:<\/strong> The agreement will reduce CSP\u2019s reliance on trucking and contribute to curbing 21% of emissions attributable to the country\u2019s road sector by 2050.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About CSP Abu Dhabi: <\/strong>The container freight station was established in 2018 as part of a strategic agreement between the UAE and China, and went into operation in November 2021, the statement explained. The 275k sqm space offers a range of logistics services, including container and cargo loading, offloading, storage, bonded or non-bonded warehousing, customs clearance, transportation, sea and air freight forwarding, project logistics, dangerous goods and oversized cargo handling.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/etihad-rail\/\">Etihad Rail<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/rail\/\">RAIL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/uae\/\">UAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78995 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"78995\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/78995\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78995\" class=\"content-area-description single-story post-78995 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/transmar.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2700.jpg?ssl=1\"><\/a><\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78996\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78996\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">6<\/div>\r\n\r\n                    <p class=\"f-graphik\">Earnings Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/\">\r\n                            Kuwait Ports Authority records historic revenues in FY 2023-24                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Kuwait Ports Authority records historic revenues in FY 2023-24&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/&title=Kuwait Ports Authority records historic revenues in FY 2023-24\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Kuwait+Ports+Authority+records+historic+revenues+in+FY+2023-24+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F06%2F04%2Fkuwait-ports-authority-records-historic-revenues-in-fy-2023-24%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/997.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78997\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/kuwait-ports-authority-records-historic-revenues-in-fy-2023-24\/997-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/997.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"997.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/997.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/4\/997.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78996\" class=\"content-area-description single-story post-78996 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-earnings-watch tag-kuwait tag-ports wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.97a09260-e668-4d4b-a6cd-9c0190403986.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/kpa.gov.kw\/ar\/?fbclid=IwZXh0bgNhZW0CMTAAAR0ZENEY745qja9H_souN2DDFQMvSCrVbJ1zMKjNMmmyqEhMCuXu6F0WMUk_aem_AbDl8prqdzP-pLDIA5V1EKNVtOE-F4BfjVOihpsjCeZJcjmUN5WhKCfq9yCvvmuJkuCt8V0HXESscO7CeTo36iOf\" style=\"\" rel=\"noopener\">Kuwait Ports Authority<\/a><\/strong><strong> (KPA) saw <\/strong><strong>its bottom line increase to KWD 59.9 mn and recorded <\/strong><strong>KWD 104.7 mn in revenues in FY 2023-24<\/strong><strong>,<\/strong> up 100% when compared to net income posted in the previous two fiscal years, <a target=\"_blank\" href=\"https:\/\/www.arabtimesonline.com\/news\/kuwait-ports-authority-achieves-historic-revenue-profit-growth\/\" style=\"\" rel=\"noopener\">Ara<\/a><a target=\"_blank\" href=\"https:\/\/www.arabtimesonline.com\/news\/kuwait-ports-authority-achieves-historic-revenue-profit-growth\/\" style=\"\" rel=\"noopener\">b Time<\/a><a target=\"_blank\" href=\"https:\/\/www.arabtimesonline.com\/news\/kuwait-ports-authority-achieves-historic-revenue-profit-growth\/\" style=\"\" rel=\"noopener\">s<\/a> reports. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Behind the numbers:<\/strong> The boosted performance is attributed to strong financial discipline in expenses, efforts to ensure sustainable growth in earnings, and other measures applied to \u201ccorrect\u201d KPA\u2019s finances and operations which led to lower earnings over the past two periods, the report said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> KPA\u2019s income will go towards developing the port authority\u2019s operations, the report notes. Numerous suggestions are under study in this regard, including boosting charges and fees, leasing and investing in KPA-held land, as well as other investment proposals. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Already in progress:<\/strong> KPA is lining up a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/fa0d2dc8-b7a5-4eca-b47c-998fb6343380\/%253cmark%253ekuwait%253c%2Fmark%253e-will-reportedly-build-a-usd-649-mn-logistics-hub-at-shuwaikh-port\" style=\"\" rel=\"noopener\">KWD 200 mn (c. USD 649.3 mn)<\/a> integrated logistics hub at Shuwaikh Port. The project is slated for completion by 2028 and will include multi-story warehouses, administrative buildings, support services, and exhibition halls. KPA has also kicked off the first phase of a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1120b6ab-36a3-4841-8823-fbf7025f38ad\/today:-plenty-of-m&a-news-%2B-russian-coal-shipments-drive-up-demand-for-capesize-vessels,-says-msi\" style=\"\" rel=\"noopener\">KWD 48.8 mn<\/a> project to redevelop ports at Shuwaikh Port. <\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/kuwait\/\">Kuwait<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/ports\/\">PORTS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"78998\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"78998\">\r\n            \r\n                <div class=\"issue-story-header text-center\">\r\n                    <div class=\"index-number\">7<\/div>\r\n\r\n                    <p class=\"f-graphik\">Also on Our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/\">\r\n                            Aviation, rail, and trade updates from Iran, Egypt and Saudi                        <\/a>\r\n                    <\/h3>\r\n\r\n                    \r\n\t\t\t\t\t\n<div class=\"cta\">\n    <div class=\"cta__btn share-dropdown-cta dropdown-toggle-btn\" style=\"position:relative\">\n        <img decoding=\"async\" src=\"https:\/\/ent.news\/internal\/408834.svg\" alt=\"\">\n        Share Story\n        <!-- Dropdown Menu -->\n        <ul class=\"share-menu\">\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/new-tab.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"#\" target=\"_blank\" onclick=\"event.preventDefault(); navigator.clipboard.writeText('https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/')\">\n                    Copy Link                <\/a>\n\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/\">\n                    Facebook                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/facebook-icon2.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Aviation, rail, and trade updates from Iran, Egypt and Saudi&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/\">\n                    X                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/twitter-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&url=https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/&title=Aviation, rail, and trade updates from Iran, Egypt and Saudi\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li class=\"list-inline-item\">\n                <a href=\"https:\/\/api.whatsapp.com\/send?text=Aviation%2C+rail%2C+and+trade+updates+from+Iran%2C+Egypt+and+Saudi+https%3A%2F%2Fenterpriseam.com%2Flogistics%2F2024%2F06%2F04%2Faviation-rail-and-trade-updates-from-iran-egypt-and-saudi%2F\">\n                    WhatsApp                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/whatsapp-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n        <\/ul>\n    <\/div>\n        <\/div>\r\n                    \r\n                <\/div>\r\n\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/288.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"78999\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/aviation-rail-and-trade-updates-from-iran-egypt-and-saudi\/288-jpg\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/288.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"288.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/288.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/288.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-78998\" class=\"content-area-description single-story post-78998 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-egypt tag-iran tag-rail tag-saudi-arabia tag-trade wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<figure class=\"wp-block-audio mb-0\"><audio controls preload=\"metadata\" src=\"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.1fba8516-02d6-4e20-8629-c682875c9df7.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"background-color: transparent;\">AVIATION-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Iran is making its own jet engine turbine blades:<\/strong> Iranian scientists have succeeded in producing high-tech jet engine blades \u2014 a main component that forms the turbine section of aircraft engines \u2014 for a manufacturing cost of USD 8k, <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/mapna-aero\/\" style=\"\" rel=\"noopener\">Mapna Aero<\/a> Head of Design &amp; Production Mani Rezvani told <a target=\"_blank\" href=\"https:\/\/www.tasnimnews.com\/en\/news\/2024\/06\/01\/3096499\/iran-makes-jet-engine-blades-revives-dozens-of-airliners\" style=\"\" rel=\"noopener\">Tasnim<\/a>. The development should allow Iran to put a fleet of McDonnell Douglas planes back into service after being mothballed due to sanctions restricting access to jet engine blades. The first JT8D engine fitted with Iranian blades will be installed into a Boeing MD passenger plane on 20 June, the outlet said. <\/p>\n<p class=\"tag-border-left\">RAIL-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egis to supervise Egyptian high-speed rail project:<\/strong> France-based engineering outfit Egis has inked a contract with the Egyptian National Authority for Tunnels (NAT) to supervise two new electric high-speed rail lines in the country, according to a <a target=\"_blank\" href=\"https:\/\/www.egis-group.com\/all-news\/egis-awarded-contract-by-national-authority-for-tunnels-to-supervise-high-speed-rail-project-in-egypt\" style=\"\" rel=\"noopener\">press release<\/a>. The project \u2014 which is being implemented in collaboration with Systra \u2014 will be part of a 2k km rail network that will transport passengers and freight across the country.<\/p>\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>S<\/strong><strong>audi EXIM inks agreements for financing +<\/strong><strong> ins. for non-oil exports:<\/strong> The Saudi Export-Import Bank (Saudi EXIM) has inked an agreement with Australian asset and commodity management Macquarie Group to provide credit facilities worth USD 500 mn over three years to enhance the group\u2019s purchases of Saudi goods and services, <a target=\"_blank\" href=\"https:\/\/spa.gov.sa\/en\/N2113744\" style=\"\" rel=\"noopener\">SPA<\/a> reports. The credit facility agreement looks to connect the Kingdom\u2019s exports to 156 global markets and will support Saudi EXIM\u2019s efforts to develop non-oil exports and enhance its global position in markets by providing financial services, guarantees, and export credit ins. Saudi Exim also inked an agreement with <a target=\"_blank\" href=\"https:\/\/www.allianz.com\/en.html\" style=\"\" rel=\"noopener\">Allianz International Ins. Group<\/a> for the provision of ins. solutions to reduce non-payment risks for imports and exports. Allianz will provide ins. solutions to facilitate the Saudi industrial sector\u2019s access to global supply chains across 50 countries.<\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/also-on-our-radar\/\">ALSO ON OUR RADAR<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/egypt\/\">Egypt<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/iran\/\">Iran<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/rail\/\">RAIL<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/saudi-arabia\/\">Saudi Arabia<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/trade\/\">trade<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"79000\" class=\"issue-section \">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                story-section            \"\r\n            id=\"calendar\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/06\/04\/79000\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-79000\" class=\"content-area-description single-story post-79000 post type-post status-publish format-standard hentry category-calendar wpautop entry\">\n\n\t\t\t<hr class=\"wp-block-separator has-text-color has-primary-color has-alpha-channel-opacity has-primary-background-color has-background is-style-wide\">\n\n\t\t<h2 class=\"wp-block-heading mt-0 has-primary-color has-text-color has-link-color has-normal-font-size\" style=\"padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px\">\n\t\t\t<strong> Calendar<\/strong>\n\t\t<\/h2>\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">JUNE <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-4 June (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/pressroom\/2023-releases\/2023-06-05-03\/\" style=\"\">IATA Annual General Meeting (AGM) and World Air Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">5 June (Wednesday): Digital Transformation Summit, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>5-7 June (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/key-notion.com\/sustainability-world-summit-frankfurt-2024\/\" style=\"\">Sustainability World Summit<\/a><\/span><span style=\"font-weight:400;\">, Frankfurt, Germany.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>6-7 June (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.neventum.com\/tradeshows\/supply-chain-innovation-summit\" style=\"\">Supply Chain Innovation Summit<\/a><\/span><span style=\"font-weight:400;\">, Amsterdam, Netherlands.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>6-7 June (Thursday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.sustain-lgsts.com\/\" style=\"\">International Symposium on Sustainable Logistics<\/a><\/span><span style=\"font-weight:400;\">, Mersin, Turkey.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-13 June (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.tocevents-europe.com\/en\/home.html\" style=\"\">Terminal Operations Conference & Exhibition<\/a><\/span><span style=\"font-weight:400;\">, Rotterdam, Netherlands.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>26-27 June (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/decarbonizingforum.com\/\" style=\"\">Decarbonizing Shipping Forum<\/a><\/span><span style=\"font-weight:400;\">, Rotterdam, Netherlands.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>27 June (Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.emmc.me\/overview\/\" style=\"\">East Med Maritime Conference<\/a><\/span><span style=\"font-weight:400;\">, Beirut, Lebanon.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>29 June (Saturday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/GAFIEG\/posts\/pfbid0z8DptHmmjFty9qi3uNQxWFdoS5TVBQJPD2HPdnpCk2CxuGy2svK8zMXzK8QpnQsvl\" style=\"\">The Investment Conference<\/a><\/span><span style=\"font-weight:400;\"> in cooperation with the European Union, Brussels. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">JULY<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>2-4 July (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.aci-europe-events.org\/\" style=\"\">ACI Europe Annual Congress<\/a><\/span><span style=\"font-weight:400;\">, Istanbul, Turkey.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">14 July (Friday): AI Integration and Autonomous Mobility, Berlin, Germany.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">AUGUST<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 August (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/rexconferences.com\/conference-info\" style=\"\">Rex Fuels Global Expo & Conference 2024- Bitumen, Petrochemicals & Products<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">SEPTEMBER<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-19 September (Wednesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudimaritimecongress.com\/en\/home.html\" style=\"\">Saudi Maritime & Logistics Congress<\/a><\/span><span style=\"font-weight:400;\">, Dammam, KSA. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>23-25 September (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">World<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Freezones<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.worldfzo.org\/Events\/Upcoming-Events\/id\/702\/zones-and-the-shifting-global-economic-structures-unlocking-new-investment-avenues\" style=\"\">Organization\u2019s Annual International Conference and Exhibition (AICE)<\/a><\/span><span style=\"font-weight:400;\"> , Dubai, UAE. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">   <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">OCTOBER <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>6-8 October (Sunday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.routesonline.com\/news\/29\/breaking-news\/299662189\/press-release-routes-world-officially-handed-over-to-2024-host-bahrain-international-airport\/\" style=\"\">Routes World 2024<\/a><\/span><span style=\"font-weight:400;\">, Bahrain.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>8-10 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wam.ae\/en\/article\/b25n998-under-patronage-mansour-bin-zayed-inaugural-global\" style=\"\">The Global Rail Transport Infrastructure Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">(Global Rail), Abu Dhabi, UAE. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>7-9 October (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afsic.net\/delegate-registration\/\" style=\"\">AFSIC \u2013 Investing in Africa,<\/a><\/span><span style=\"font-weight:400;\"> London, UK. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>8-10 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.antwerpxl.com\" style=\"\">AntwerpXL Expo<\/a><\/span><span style=\"font-weight:400;\">, Antwerp, Belgium.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>21-22 October (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/smartportstransformation.com\/\" style=\"\">Smart Ports & Logistics Transformation Summit<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>22-24 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.transportevents.com\/ForthcomingEventsdetails.aspx?EventID=EVE201\" style=\"\">Asean Ports and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Johor, Malaysia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>22-24 October (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/singapore-to-host-gpf\/\" style=\"\">Global Ports Forum<\/a><\/span><span style=\"font-weight:400;\">, Singapore.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>26-27 October (Saturday-Sunday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/theires.org\/Conference\/18859\/ICTTL\/\" style=\"\">International Conference on Tourism, Transport, and Logistics<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">NOVEMBER <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamsaudi.com\/\" style=\"\">World Advanced Manufacturing Logistics Summit & Expo<\/a><\/span><span style=\"font-weight:400;\">, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>11-14 November (Monday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.adipec.com\/maritime-logistics\/\" style=\"\">ADIPEC Maritime and Logistics Exhibition and Conference<\/a><\/span><span style=\"font-weight:400;\">, Abu Dhabi, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>13-15 November (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.bahraininternationalairshow.com\/\" style=\"\">The Bahrain International Airshow<\/a><\/span><span style=\"font-weight:400;\">, Sakhir Airbase, Bahrain.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>18-20 November (Monday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.theheatshow.com\/beta\/\" style=\"\">The Heavy Equipment and Truck Show<\/a><\/span><span style=\"font-weight:400;\">, Damman, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>18-19 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.g20.org\/en\/about-the-g20\/summit-rio-2024\" style=\"\">G20 Summit<\/a><\/span><span style=\"font-weight:400;\">, Rio de Janeiro, Brazil.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">DECEMBER <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>10-12 December (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.mebaa.aero\/\" style=\"\">Middle East Business Aviation<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">20 December (Wednesday): The Iran-Senegal Joint Economic Cooperation Commission, Dakar, Senegal.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">EVENTS WITH NO SET DATE<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>1Q 2024: Construction of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/twitter.com\/Agility\/status\/1664177888365535232?cxt=HHwWgICz8Zy-rJguAAAA\" style=\"\">phase 3<\/a><\/span><span style=\"font-weight:400;\"> of Agility\u2019s logistic park in Abidjan, C\u00f4te d'Ivoire to be completed. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2024: Egypt\u2019s Transport Ministry to launch pre-qualification tender for Cairo-Alex freight railway.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>1H 2024: Civil Construction subcontracts for construction firms in Oman for implementation of the Abu Dhabi - Suhar rail link to be <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/oman-etihad-rail-project-to-unlock-major-construction-opportunities-pvugtzq8\" style=\"\">announced<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span> 2H 2024: Bahri\u2019s barges for Saline Water Conversion Corporation (SWCC) to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tools.eurolandir.com\/tools\/Pressreleases\/GetPressRelease\/?ID=4438553&lang=en-GB&companycode=sa-bahri&v=redesign\" style=\"\">begin<\/a><\/span><span style=\"font-weight:400;\"> initial and commercial operation.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">King Salman Energy Park is set to become operational.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/mediaoffice.ae\/en\/news\/2024\/February\/27-02\/DCC-partners-with-Worldef-International\" style=\"\">The Cross-Border Digital Trade Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">2025<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">APRIL<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>16-17 April: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/globalportsforum.com\/dubai-to-host-gpf\/\" style=\"\">Global Ports Forum<\/a><\/span><span style=\"font-weight:400;\">, Dubai, UAE.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>Mid-2025: Iraq will complete <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.zawya.com\/en\/projects\/construction\/iraq-to-finish-phase-1-of-faw-grand-port-in-2025-r1g2m8qk\" style=\"\">phase one<\/a><\/span><span style=\"font-weight:400;\"> of the construction of the Grand Faw Port.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">DHL and Aramco\u2019s logistics and procurement hub in Saudi Arabia will commence operations.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">AD Ports-operated Safaga Port\u2019s multi-purpose terminal will become operational. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.apmterminals.com\/en\/news\/news-releases\/2023\/231213-one-million-teu-expansion-at-apm-terminals-tangier-med-port-operational#:~:text=12%2F18%2F2023-,One%20million%20TEU%20expansion%20at%20APM%20Terminals%20Tangier%20MedPort%20operational,an%20additional%20400%20metre%20berth.\" style=\"\">Phase 3<\/a><\/span><span style=\"font-weight:400;\"> of APM Terminals Tangier MedPort to be complete and operational.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">1Q 2025: Sadr Park\u2019s Logistics Center in Riyadh to be completed. <\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>1Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.jafza.ae\/media-centre\/news\/jafza-completes-phase-1-of-new-logistics-park\/\" style=\"\">Phase two<\/a><\/span><span style=\"font-weight:400;\">of Jafza Logistics Park to be completed.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">2026<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:400;\">2026 UNCTAD Global Supply Chains Forum, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span style=\"font-weight:700;\">2027<\/span><\/p>\n<p style=\"padding:0;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>4Q 2027: Oman\u2019s Musandam Airport construction to be completed.<\/span><\/p>\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A updates from Adnoc L&#038;S | Everything IATA from Dubai | PMI reports are in for KSA, Egypt + Kuwait<\/p>\n","protected":false},"featured_media":78982,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-78981","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"0fd1442d-cb97-4391-b374-eb8115655e02","teaser":"M&A updates from Adnoc L&S | Everything IATA from Dubai | PMI reports are in for KSA, Egypt + Kuwait","photo_url":"https:\/\/ent.news\/2024\/1\/1230.jpg"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Adnoc L&amp;S acquires 80% of Navig8 in USD 1.04 bn transaction - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/logistics\/issues\/adnoc-ls-acquires-80-of-navig8-in-usd-1-04-bn-transaction\/\" \/>\n<meta property=\"og:locale\" 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