{"id":82190,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/?post_type=issue&#038;p=82190"},"modified":"2025-12-15T15:36:13","modified_gmt":"2025-12-15T15:36:13","slug":"gcc-countries-continue-to-see-non-oil-sector-growth-while-egypts-and-lebanons-contract","status":"publish","type":"issue","link":"https:\/\/enterpriseam.com\/logistics\/issues\/gcc-countries-continue-to-see-non-oil-sector-growth-while-egypts-and-lebanons-contract\/","title":{"rendered":"GCC countries continue to see non-oil sector growth, while Egypt\u2019s and Lebanon\u2019s contract"},"content":{"rendered":"<section id=\"82192\" 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=\"82192\">\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\/11\/06\/today-sczone-plans-usd-3-bn-infrastructure-investment-morocco-eyes-tan-tan-port-for-green-hydrogen-exports\/\">\r\n                            TODAY: SCZone plans USD 3 bn infrastructure investment + Morocco eyes Tan-Tan port for green hydrogen exports                        <\/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 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/487.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82193\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/today-sczone-plans-usd-3-bn-infrastructure-investment-morocco-eyes-tan-tan-port-for-green-hydrogen-exports\/487-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/487.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"487.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/487.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/487.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82192\" class=\"content-area-description single-story post-82192 post type-post status-publish format-standard has-post-thumbnail hentry category-what-were-tracking-today tag-egypt tag-kemet-data-center tag-morocco tag-what-were-tracking-today 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\/11\/.92bf566b-fd57-4e5b-b455-e9b6dfdce0d4.mp3\"><\/audio><\/figure><p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>We have a meaty issue for you today with purchasing managers\u2019 indices from across the region, as well as some updates from Egypt, news that the UAE is getting the region\u2019s largest biofuel processing facility, and more. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>THE BIG LOGISTICS STORY ABROAD- <\/strong><strong>Boeing strikers accept company offer:<\/strong> Boeing workers <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/boeing-workers-vote-wage-deal-that-could-end-strike-2024-11-04\/\" style=\"\" rel=\"noopener\">accepted<\/a> a new contract <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/0ac276e4-7450-4fbd-81cf-5166972282fd\/today:-indu-kishore-breaks-ground-on-spare-parts-facility-in-dubai-south-%2B-panattoni,-gfh-to-develop-logistics-facilities-worth-sar-2-bn-in-ksa\" style=\"\" rel=\"noopener\">offer<\/a> on Monday, bringing an end to a seven-week strike that halted most jet production and worsened the company\u2019s already existing supply chain issues and <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/1e0cf606-326b-44e8-8732-9d559295c40c\/today:%253cmark%253e-boeing%253c%2Fmark%253e-strike-continues,-with-concerns-rising-over-potential-impact-%2B-more-flights-to-iraq,-iran,-jordan,-and-lebanon-suspended\" style=\"\" rel=\"noopener\">delivery<\/a> delays. The worker\u2019s union had endorsed the offer earlier this week, stressing it had gotten all it can from the manufacturer.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The final call: <\/strong>The union members voted 59% in favor of the new contract, which includes a 38% increase in pay spread over four years. Boeing has said the average annual machinists' pay at the end of the new four-year contract will be USD 119.3k, up from USD 75.6k previously. The pay increase may add USD 1.1 bn to Boeing\u2019s wage bill over the four years, while a USD 12k ratification bonus for each union member could result in another USD 396 mn in outflows. The old pension will not be restored, but workers received a boost to company matching contributions for their 401k plans.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>So, what\u2019s next? <\/strong>The airplane manufacturer will take weeks to ramp up plane production and boost cash flow. The workers can start returning to developing planes immediately, although Boeing has warned that some people will have to be retrained due to their time away from the factory floor. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The story grabbed a lot on ink in the int\u2019l press:<\/strong> <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/videos\/2024-11-05\/boeing-workers-accept-new-contract-offer-end-strike\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.washingtonpost.com\/transportation\/2024\/11\/05\/boeing-strike-machinists-contract-vote\/\" style=\"\" rel=\"noopener\">The Washington Post<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/articles\/c0mz9ml473mo\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/business\/2024\/nov\/05\/boeing-workers-end-strike-walkout-seattle-portland-california\" style=\"\" rel=\"noopener\">The Guardian<\/a> | <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/boeing-contract-vote-strike-machinists-union-5237a31660b0a06381457e33f9a72369\" style=\"\" rel=\"noopener\">AP News<\/a> | <a target=\"_blank\" href=\"https:\/\/www.usatoday.com\/story\/money\/2024\/11\/05\/boeing-strike-ends\/75989603007\/\" style=\"\" rel=\"noopener\">USA Today<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/news\/boeing-strike-2024-vote-update\/\" style=\"\" rel=\"noopener\">CBS News<\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ We have everything on this story and more in the news well, below.<\/p>\n<p class=\"tag-border-left\">HAPPENING TODAY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/www.adipec.com\/\" style=\"\" rel=\"noopener\">Adipec<\/a><\/strong><strong> is on its third day today and runs through to tomorrow<\/strong> at Adnec Center in Abu Dhabi. The event \u2014 the biggest oil and gas forum in the world \u2014 brings together over 40 ministers and over 200 C-suite executives and technology leaders from the Middle East, Asia, Africa, Europe, and the Americas, focusing on innovation and partnerships to advance the energy transition. <\/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\">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- <\/strong><strong>SCZone plans USD 3 bn infrastructure investment:<\/strong> The Suez Canal Economic Zone (SCZone) plans to invest USD 3 bn on infrastructure projects over the coming few years as it looks to attract investors, SCZone head Walid Gamal El Din told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/companies\/2024\/11\/05\/%D9%85%D8%B3%D8%A4%D9%88%D9%84-%D8%A7%D9%84%D9%85%D9%86%D8%B7%D9%82%D8%A9-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D8%A9-%D9%84%D9%82%D9%86%D8%A7%D8%A9-%D8%A7%D9%84%D8%B3%D9%88%D9%8A%D8%B3-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D9%84%D8%AA%D9%88%D8%B3%D8%B9-%D8%B3%D8%B1%D9%8A%D8%B9%D8%A7\" style=\"\" rel=\"noopener\">Al Arabiya<\/a>. The investment will mirror the USD 3 bn invested over the past few years. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Among the new projects: A desalination plant:<\/strong> The authority is developing a new desalination facility in AIn Sokhna dedicated to shared utilities for green hydrogen project, Gamal El Din said. The first phase of the project will produce around 250k cubic meters per day. The authority will soon launch a tender for the project and construction should take 2-4 years.<\/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- IN OTHER EGYPT NEWS- <\/strong><strong>Phase II of the Egyptian Cotton Project launches: <\/strong>The Madbouly government and the United Nations Industrial Development Organization (UNIDO) launched the second phase of the Italian Agency for Development Cooperation-funded <a target=\"_blank\" href=\"https:\/\/www.unido.org\/news\/unidos-egyptian-cotton-project-brings-together-key-stakeholders-egyptian-cotton-value-chain-advance-and-innovate-egyptian-cotton-industry\" style=\"\" rel=\"noopener\">Egyptian Cotton Project<\/a> which aims to boost sustainability across the local cotton value chain, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0bQqHAtTECKvpLrbyBvfJoeu16TymemVNnikYejVtL88Q5TQVqtN2nutWQ95npB7Kl\" style=\"\" rel=\"noopener\">statement<\/a>. The second phase of the project aims to introduce young cotton farmers to sustainable practices and employ the youth across the cotton value chain. The first phase of the project ran from 2018 to 2021.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- <\/strong><strong>The gov\u2019t is looking to work with Emirati IRH to transport LNG overseas:<\/strong> The Oil Ministry and Emirati mining firm <a target=\"_blank\" href=\"https:\/\/irh.ae\/\" style=\"\" rel=\"noopener\">International Resources Holding<\/a> (IRH) are in talks over the possibility of collaborating on liquefied natural gas trade and distribution in a bid to transport gas to foreign markets, according to a ministry <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptMOP\/posts\/pfbid0EPikvWM4omfRBKDGME4hZURDGDyKUBtZh5PREpZRFBQVGMu5Bqrsphxd34yQFStMl\" style=\"\" rel=\"noopener\">statement<\/a>. The talks, which came on the sidelines of the ADIPEC 2024 conference in Abu Dhabi, also saw the two parties exploring areas of cooperation in the mining sector.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> <a id=\"wwtt3\"><\/a>#3- <\/strong><strong>Morocco eyes Tan-Tan port for green hydrogen export<\/strong><strong>s:<\/strong> Morocco\u2019s National Ports Agency (ANP) has issued a tender for a feasibility study to position the Tan-Tan port as a green hydrogen hub, <a target=\"_blank\" href=\"https:\/\/northafricapost.com\/81577-morocco-considers-tan-tan-port-for-green-hydrogen-exports.html#google_vignette\" style=\"\" rel=\"noopener\">North Africa Post<\/a> reports. The port is part of Morocco's green hydrogen initiative, which was launched last March and involves allocating 300k hectares for green hydrogen projects. ANP is looking to leverage the port for green hydrogen exports as well as its derivatives, including ammonia and e-methanol. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why Tan-Tan? <\/strong>The port \u2014 based in El Ouatia \u2014 is in close proximity to the Guelmin Oued Noun region, which is eyed by global energy firms, including France\u2019s TotalEnergies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>There\u2019s been some talk: <\/strong>Morocco and the World Bank were in talks <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/486407bd-d8e3-4894-8d84-e916d1cd3c83\/today:-red-sea-disruption-continues-amid-the-houthi%25e2%2580%2599s-expanded-target-list\" style=\"\" rel=\"noopener\">back in January<\/a> to explore the feasibility of building green hydrogen storage, ship refueling, and export-dedicated facilities at the ports of Tan-Tan, Jorf Lasfar, Mohammedia, and Tanger-Med. The study aimed to assess the technical and economic potential for green fuel production at Moroccan ports in a bid to help decarbonize the shipping sector, which accounts for 2.9% of global greenhouse gas emissions.<\/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>#1-<\/strong><strong> Oil prices fell early today as the US election got underway<\/strong>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/markets\/commodities\/oil-edges-down-ahead-us-election-china-npc-meeting-2024-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a> reports. Brent crude futures were down 0.46% to USD 75.18 a barrel, while US West Texas Intermediate was down 0.4% to USD 71.72. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Baltic index continues to ease:<\/strong> The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 <a target=\"_blank\" href=\"https:\/\/tradingeconomics.com\/commodity\/baltic\" style=\"\" rel=\"noopener\">rose 2.2% yesterday<\/a>, ending its four-day losing streak. The capesize index gained 118 point, while the panamax index lost four points and the smaller supramax fell 18 points.<\/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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong><strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM Logistics is available without charge <\/strong>thanks to the generous support of our friends at Hassan Allam Utilities, Transmar, and AK-Ships.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Were you forwarded this email? <\/strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on <a target=\"_blank\" href=\"mailto:logistics@enterprisemea.com\" style=\"\" rel=\"noopener\">logistics@enterprisemea.com<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DID YOU KNOW <\/strong>that we also cover <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\" style=\"\" rel=\"noopener\">Egypt<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a>, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">the UAE<\/a>, and the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">MENA<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/climate\/en\" style=\"\" rel=\"noopener\">climate industry<\/a> ?<br \/><strong>***<\/strong><\/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>CIRCLE YOUR CALENDAR-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Arabia will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\" rel=\"noopener\">Saudi Airport Exhibition<\/a><\/strong><strong> on Monday, 11 November and <\/strong><strong>Tuesday, 12 November<\/strong> in Riyadh. The two-day exhibition will bring together global industry leaders to discuss the latest technologies around the world in the aviation industry. It looks to encourage discussion between Saudi aviation leaders and the global supply chain industry.<\/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>Bahrain will host <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.bahraininternationalairshow.com\/\" style=\"\" rel=\"noopener\">The Bahrain International Airshow<\/a><\/strong><strong> on Wednesday, 13 November and <\/strong><strong>Friday, 15 November<\/strong> near Awali. The three-day event is bringing together over 180 participating companies from over 59 represented nations globally.<\/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>Egypt will host the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.zawya.com\/en\/press-release\/companies-news\/egypts-2024-autotech-exhibition-for-automotive-aftermarket-and-feeder-industries-to-kick-off-in-november-e92c1762\" style=\"\" rel=\"noopener\">Autotech Exhibition<\/a><\/strong><strong> on Sunday, 17 November until Tuesday, 19 <\/strong><strong>November<\/strong> in Cairo. The event will bring together prominent local and international companies to discuss and evaluate the latest developments and trends in the automotive aftermarket and feeder industries.<\/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\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\/kemet-data-center\/\">Kemet Data Center<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> 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\">\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=\"82195\">\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\">Purchasing<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/gcc-countries-continue-to-see-non-oil-sector-growth-while-egypts-and-lebanons-contract\/\">\r\n                            GCC countries continue to see non-oil sector growth, while Egypt\u2019s and Lebanon\u2019s contract                        <\/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\" 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src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/489.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82196\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/gcc-countries-continue-to-see-non-oil-sector-growth-while-egypts-and-lebanons-contract\/489-jpg-9\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/489.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"489.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/489.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/489.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82195\" class=\"content-area-description single-story post-82195 post type-post status-publish format-standard has-post-thumbnail hentry category-purchasing tag-egypt tag-purchasing tag-saudi-arabia 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\/11\/.3318084c-25f8-4fd8-96ae-c67b1cd8cb87.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">!_NewsLead_! <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Purchasing manager indices (PMI) for countries in the region are ou<\/strong><strong>t<\/strong>, and as usual, they tell a mixed tale, with GCC countries seeing their non-energy sectors expand, while Egypt\u2019s and Lebanon\u2019s are in contraction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/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 class=\"tag-border-left\"> EGYPT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On the up, but still in the red:<\/strong> Egypt\u2019s non-oil private sector activity contracted for the second consecutive month in October, S&P Global\u2019s most recent <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/354.pdf\" style=\"\" rel=\"noopener\">Purchasing Managers Index (PMI) (pdf)<\/a> report showed. The decline was driven by rising price pressures \u2014 driven by higher costs of raw materials and utilities \u2014 that dampened new order volumes across the board. October\u2019s index reading rose to 49.0 from the previous month\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/19e60e04-922b-4f69-ac6a-3002ab4f6a11\/egypt%e2%80%99s-non-oil-private-sector-activity-falls-back-into-contraction-territory-amid-persistent-inflation\" style=\"\" rel=\"noopener\">48.8<\/a>, leaving us just below the 50.0 mark that separates growth from contraction. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A stronger USD and high input prices drove the fall: <\/strong>Rising costs of imported inputs drove the trend, according to the report, with a stronger USD highlighted as the main culprit. However, input cost inflation rose at a slower pace than September\u2019s six-month high and at the slowest pace since July \u2014 a possible indication that we might soon see the tail-end of input cost inflation. Surveyed companies reported overall declining sales due to weak market conditions and higher prices, with construction firms seeing the largest drop in activity and sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a more positive note, hiring was up:<\/strong> Despite the contraction in overall business activity, employment rose for the fourth straight month, with job creation growing at its fastest rate since May. Total input purchases also fell for the first time since August, easing pressures on supply chains.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A positive outlook, with confidence concerns:<\/strong> Non-oil private sector activity is expected to increase in the coming 12 months, with S&P Global Market Intelligence senior economist David Owen noting that \u201cwith the PMI at 49.0 points in October, Egypt's non-oil economy is not too far from growing again.\u201d That being said, businesses are not confident about the year ahead, with the report saying that the relevant index had dropped to \u201cone of its lowest readings in the survey\u2019s history.\u201d<\/p>\n<p class=\"tag-border-left\"> SAUDI ARABIA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meanwhile, in Saudi Arabia:<\/strong> Non-oil business activity in the Kingdom grew at its fastest pace in six months in October, buoyed by new orders, purchasing activity, and renewed confidence across the board, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/351.pdf\" style=\"\" rel=\"noopener\">Riyad Bank Saudi Arabia PMI (pdf)<\/a>. The headline figure rose to 56.9 in October, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/df1496d1-29a2-4ff3-a7c1-49f4bf794751\/uae,-ksa,-and-egypt-non-oil-private-sector-activity-tells-a-mixed-tale-in-september\" style=\"\" rel=\"noopener\">56.3 in September<\/a>, increasing for the third consecutive month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A boost in new orders propelled the index upwards<\/strong>, driven by new customer intake, successful marketing strategies, and enhanced infrastructure development, with \u201cover 40% of surveyed companies report[ing] a surge in demand,\u201d Riyad Bank Chief Economist Naif Al Ghaith said. This simultaneously caused an uptick in output rates, input purchases and general purchasing activity \u2014 rising from a three-year low in September \u2014 and input stocks.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Hiring was also up:<\/strong> Firms continued to ramp up hiring to keep up with new orders; however, the rate of hiring decreased for the second month running, due to staffing setbacks in the construction sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And so was inflation: <\/strong> October saw selling prices rise for the first time in four months, driven by an uptick in input costs due to higher material prices and wages. The rise was most notable in manufacturing and retail though competition kept prices somewhat in check across the construction and services sectors. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms in Saudi Arabia continued to register a positive outlook<\/strong> for the coming year, with optimism jolting up from September.<\/p>\n<p class=\"tag-border-left\"> UAE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Over in the UAE:<\/strong> Non-oil business activity picked up in October, driven by high output rates, easing backlogs, and softened input price pressures, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/428.pdf\" style=\"\" rel=\"noopener\">S&P Global\u2019s UAE PMI (pdf)<\/a>. The country\u2019s headline PMI grew to 54.1 in October, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/df1496d1-29a2-4ff3-a7c1-49f4bf794751\/uae,-ksa,-and-egypt-non-oil-private-sector-activity-tells-a-mixed-tale-in-september\" style=\"\" rel=\"noopener\">53.8 in September<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Sluggish new order momentum weighed on the sector<\/strong>, softening to its slowest rate of growth in some 20 months, with sales dropping on the back of strong market competition. This adds \u201cto the signs that the [UAE\u2019s] non-oil economy is losing strength after a robust growth period,\u201d said S&P Global Senior Economist David Owen. Subsequently, employment growth was weak, slipping to a 30-month low.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Still, firms maintained efforts to contain backlogs, driving up a spike in input purchasing.<\/strong> Supplier delivery times dropped steadily, contributing to an ease in backlog accumulation.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Overall input costs fell to their lowest rate of increase in six months<\/strong>, easing purchase prices and wages to the weakest rate of inflation in nearly a year. With that said, some companies surveyed reported high material, equipment, and office supply costs. Nevertheless, average output prices fell for the first time since April, with firms looking to address strong competition and reverse slowing sales.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business sentiment witnessed an uptick from Septmber\u2019s 18-month low<\/strong>, with companies hopeful about sustained growth over the next 12 months, supported by strong sales pipelines and a dip in input cost inflation.<\/p>\n<p class=\"tag-border-left\"> KUWAIT- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Kuwait\u2019s PMI recorded improvement in overall business conditions<\/strong>, as new orders, output, and purchasing rates markedly increased, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/369.pdf\" style=\"\" rel=\"noopener\">Kuwait\u2019s S&P Global PMI (pdf)<\/a>. The country\u2019s headline figure jumped to a seven-month high of 52.7, up from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9d7714e7-1029-480b-8761-6c4ffa404305\/kuwait-and-qatar-non-oil-activity-sustain-growth-in-september,-while-lebanon%25e2%2580%2599s-outlook-remains-somber-amid-security-challenges\" style=\"\" rel=\"noopener\">50.3 in September<\/a>. October witnessed a \u201crejuvenation of the Kuwaiti non-oil private sector, with firms much better able to bring in new business during the month and therefore seeing output growth quicken,\u201d S&P Global economics director Andrew Harker said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New orders grew at the fastest rate since May<\/strong>, propelled by successful advertising and competitive pricing, with a particular expansion of new export orders coming in from other Gulf countries. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Output prices remained steady<\/strong> despite a sharp increase in overall input costs as firms looked to remain competitive. Firms reported price hikes for a range of goods, including advertising, electricity, food products, and maintenance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delivery times were down in October<\/strong>, with suppliers looking to attract additional business. Firms reported mixed tactics in regard to job creation, which rose only marginally, with some taking on extra staff to respond to new orders, and others reducing employment to limit costs.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The non-oil outlook in October remained strong<\/strong>, banking on further boosts in new orders over the next 12-months. <\/p>\n<p class=\"tag-border-left\"> QATAR- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Qatar\u2019s non-oil private sector indicated a stronger growth in business conditions in <\/strong><strong>October<\/strong>, bolstered by a growth in new orders and output, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/370.pdf\" style=\"\" rel=\"noopener\">Qatar Financial Center\u2019s PMI (pdf)<\/a>. The country\u2019s headline figure jumped to 52.8, up from 51.7 in September.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A surge in new orders spurred overall business activity<\/strong>, expanding for the tenth month in a row on the back of successful marketing strategies, service developments, client satisfaction and population growth.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Output prices fell for the third consecutive month<\/strong> despite overall cost pressures rising to an over four-year high, as firms strived to remain competitive. Employment rates rose sharply and wage inflation remained stable, after reaching a record high in September, as firms invested to expand capacity. Companies are placing an emphasis on retaining experienced and skilled staff to challenge market competition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Firms remain hopeful for the next year<\/strong>, with confidence in the market reaching a near two year high.<\/p>\n<p class=\"tag-border-left\"> LEBANON- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lebanon\u2019s troubles deepen<\/strong><strong>: <\/strong>Non-oil private sector activity in the country declined at the swiftest pace in over 44 months in October, weighed down by a sharp decline in new orders, purchasing activity, and supply chain disruptions, as Israel escalated attacks in the country, according to <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/495.pdf\" style=\"\" rel=\"noopener\">Blominvest Bank\u2019s Lebanon PMI (pdf)<\/a>. October\u2019s reading saw Lebanon\u2019s headline figure plummet to 45.0, down from <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/9d7714e7-1029-480b-8761-6c4ffa404305\/kuwait-and-qatar-non-oil-activity-sustain-growth-in-september,-while-lebanon%25e2%2580%2599s-outlook-remains-somber-amid-security-challenges\" style=\"\" rel=\"noopener\">47.0 in September<\/a>, and settling well below the 50.0 threshold.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>New order intakes contracted at their fastest pace since early 2021<\/strong>, with a significant drop in new export business, as foreign clients were dissuaded from placing new orders due to fears of Israel\u2019s attacks continuing or intensifying. Amid soft demand, output activity slumped and order backlogs fell at the steepest rate in just over two-and-a-half-years. Employment levels also dipped, though at a marginal rate. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Delivery times stretched as the conflict impeded the movement of goods<\/strong>, particularly via roads. With Israel\u2019s war in Lebanon causing significant disruptions to the country\u2019s supply chain, firms reduced buying activity at the fastest pace since July 2021, reducing stocks of purchases to a four-year low as some firms took items from their inventories in response to shortages in the market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Overall input price inflation soared to a 19-month high<\/strong>, as the escalation of the conflict pushed up purchasing prices for Lebanese firms, pushing private sector firms to raise output prices at the swiftest rate in over a year-and-a-half.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A bleak outlook:<\/strong> Business outlook slumped to a 16-month low, on the back of concerns of an escalation or prolongation of Israel\u2019s war in Lebanon. \u201cIt is devastating that private sector companies are pessimistic regarding the future outlook as 84% of panelists expect activity levels to shrink in the upcoming 12 months,\u201d said Blominvest Bank general manager Fadi Osseiran.<\/p>\n\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\/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\/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=\"82197 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=\"82197\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/82197\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82197\" class=\"content-area-description single-story post-82197 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\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=\"82198\" 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=\"82198\">\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\">ENERGY<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/fujairah-is-getting-an-aed-2-2-bn-biofuel-processing-facility\/\">\r\n                            Fujairah is getting an AED 2.2 bn biofuel processing facility                        <\/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\/11\/06\/fujairah-is-getting-an-aed-2-2-bn-biofuel-processing-facility\/\" target=\"_blank\">\n                    Open in new tab              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       <a target=\"_blank\" href=\"https:\/\/x.com\/intent\/post?text=Fujairah is getting an AED 2.2 bn biofuel processing facility&url=https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/fujairah-is-getting-an-aed-2-2-bn-biofuel-processing-facility\/\">\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\/11\/06\/fujairah-is-getting-an-aed-2-2-bn-biofuel-processing-facility\/&title=Fujairah is getting an AED 2.2 bn biofuel processing facility\">\n                    LinkedIn                    <!-- <img decoding=\"async\" src=\"assets\/media\/placeholder\/svg\/linkedin-icon.svg\" alt=\"\"> -->\n                <\/a>\n            <\/li>\n            <li 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class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82199\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/fujairah-is-getting-an-aed-2-2-bn-biofuel-processing-facility\/479-jpg-4\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/479.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"479.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/479.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/479.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82198\" class=\"content-area-description single-story post-82198 post type-post status-publish format-standard has-post-thumbnail hentry category-energy tag-aviation tag-biofuels tag-energy tag-fujairah 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\/11\/.afc71765-0166-4cfe-b578-52fadc334702.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> M&M launches new biofuel facility: <\/strong>Singapore-based Energy trader Mercantile & Maritime Group (M&M) is launching an AED 2.2 bn biofuel processing facility at its Mena Terminals facility in Fujairah, according to a <a target=\"_blank\" href=\"https:\/\/www.mercantilemaritime.com\/2024\/11\/05\/mercantile-maritime-group-launches-middle-easts-largest-biofuel-facility-elevates-uaes-green-energy-ambitions\/\" style=\"\" rel=\"noopener\">statement<\/a>. The facility is scheduled for completion in 2026, and is set to be the largest facility of its kind in the Middle East region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The biofuel facility at Mena Terminals will be expanded by over 1 mn sqft, and will produce up to 150 mn liters of sustainable aviation fuel (SAF) annually \u2014 approximately 10% of current global SAF production.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cBy producing SAF locally, we are reducing the nation\u2019s reliance on imports, thereby lessening carbon emissions and minimizing environmental impact across the entire supply chain, including traditional shipping methods. Alternatively, we will utilize the local rail network to transport SAF across the UAE, with future plans for regional distribution,\u201d CEO Murtaza Lakhani said in the statement.<\/p>\n\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\/aviation\/\">AVIATION<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/biofuels\/\">biofuels<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/energy\/\">energy<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/fujairah\/\">Fujairah<\/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=\"82200\" 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=\"82200\">\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\">Data Centers<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/kemet-data-center-secures-land-under-usufruct-agreement\/\">\r\n                            Kemet Data Center secures land under usufruct 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\/11\/06\/kemet-data-center-secures-land-under-usufruct-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(); 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data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"470.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/470.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/470.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82200\" class=\"content-area-description single-story post-82200 post type-post status-publish format-standard has-post-thumbnail hentry category-data-centers tag-data-centers tag-honeywell tag-intro-group tag-manufacturing tag-suez-canal-economic-zone 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\/11\/.729218b7-7ca9-4da6-b764-e73edc990e61.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SCZone inks land usufruct agreement for Kemet Data Center:<\/strong> Egypt\u2019s Suez Canal Economic Zone (SCZone) signed a land usufruct agreement with Intro Group that gives it access to a plot in the Sokhna Industrial Zone to set up the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bf40d6de-ef5c-4da4-a460-91ac497186b4\/intro-tech-and-oman-data-park-to-establish-usd-450-mn-data-center-in-egypt%e2%80%99s-sczone\" style=\"\" rel=\"noopener\">USD 450 mn Kemet Data Center<\/a>, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0qdb47SDDF4EWJVYhemG6qMwjGBdsaqD4wWKHDZAPsmGGiify9YhByL8UUXRZ8CGzl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Fresh details emerge: <\/strong>During a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0rSSSmcddMQ5wsmfWvaEKykRkpgMjExHeBSBnNZkmK39JQ9ZZaEWTHHxHFuSXA6Mml\" style=\"\" rel=\"noopener\">meeting with Egyptian<\/a><a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0rSSSmcddMQ5wsmfWvaEKykRkpgMjExHeBSBnNZkmK39JQ9ZZaEWTHHxHFuSXA6Mml\" style=\"\" rel=\"noopener\">Prime Minister Moustafa Madbouly<\/a>, Intro Group representatives said that the project will be expanded to include four phases each with a capacity of 20 MW, pushing its price tag at USD 1 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>And we have a completion date: <\/strong>The project is expected to be fully completed by the end of 2030, Madbouly said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An export-oriented center: <\/strong>The project will target exporting cloud solutions and digital services to markets abroad, specifically in the Middle East and Africa. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Opening the door for more data centers:<\/strong> Madbouly noted that Egypt <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d58985e2-86bd-408d-95fd-0ea83d7421a5\/sczone-eyes-usd-60-mn%253cmark%253e-data%253c%2Fmark%253e-center-project-partnership-with-private-sector.-plus:-spe-capital,-valu-%2B-majid-al-futtaim,-tatweer-misr,-cushman-&-wakefield\" style=\"\" rel=\"noopener\">remains interested<\/a> in attracting greater investment in data centers through simpler procedures, more incentives, and a better-equipped workforce<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER- We first heard about the big-ticket project back in September<\/strong>, after Intro Technology signed a MoU with Omani data center leader Oman Data Park to establish the Kemet Data Center on 80k sqm in the SCZone. The partially solar-powered center will serve large companies looking for cost-effective and advanced cloud solutions, Internet of Things (IoT), and digital transformation. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also onboard: <\/strong>Data center engineering leader Sterling and Wilson Data Center will <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e47e25a4-9c68-4f9e-84fe-e6fa6a538116\/beni-suef,-sharqia-are-getting-egp-4.8-bn-worth-of-projects.-plus:-news-from-giz,-egyfert,-madinet-masr,\" style=\"\" rel=\"noopener\">act as the<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e47e25a4-9c68-4f9e-84fe-e6fa6a538116\/beni-suef,-sharqia-are-getting-egp-4.8-bn-worth-of-projects.-plus:-news-from-giz,-egyfert,-madinet-masr,\" style=\"\" rel=\"noopener\">project\u2019s EPC contractor<\/a>, overseeing design, budgeting, timeline management, and systems testing and accreditation. The firm will also maintain the facility for 3-5 years after the project\u2019s completion.<\/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\">MANUFACTURING HONEYWELL LIGHTING PRODUCTS LOCALLY-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Siraj Lightning to manufacture Honeywell Lighting products locally: <\/strong>Egypt\u2019s <a target=\"_blank\" href=\"https:\/\/www.sirajlighting.com\/\" style=\"\" rel=\"noopener\">Siraj<\/a><a target=\"_blank\" href=\"https:\/\/www.sirajlighting.com\/\" style=\"\" rel=\"noopener\">Lighting<\/a> signed a USD 15 mn agreement with electric lighting equipment manufacturer <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/vesra\/\" style=\"\" rel=\"noopener\">Vesra<\/a> \u2014 a Honeywell authorized licensee \u2014 to produce Honeywell lighting products in its factory in the the Suez Canal Economic Zone (SCZone), according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid022788esoTmDRLM68nPxN9E8iCD89EssjLG3fHfDwN7rWwWoaueyrAVyFwMpYL2cudl?locale=ar_AR\" style=\"\" rel=\"noopener\">cabinet statement<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details:<\/strong> Siraj will be producing indoor and outdoor lighting for use in commercial, residential, and industrial settings, with plans to export 30% of output during the first phase of the project. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Lowering the import bill:<\/strong> The project will create new jobs, foster economic growth, and increase exports, Prime Minister Moustafa Madbouly said at the agreement\u2019s signing.<\/p>\n\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\/data-centers\/\">DATA CENTERS<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/honeywell\/\">Honeywell<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/intro-group\/\">Intro Group<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/manufacturing\/\">manufacturing<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/suez-canal-economic-zone\/\">Suez Canal Economic Zone<\/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=\"82202 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=\"82202\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/82202\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82202\" class=\"content-area-description single-story post-82202 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\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=\"82203\" 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=\"82203\">\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\">Earnings Watch<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/aramco-net-income-dips-in-3q-as-oil-giant-swings-into-debt\/\">\r\n                            Aramco net income dips 15.4% in 3Q, as oil giant swings into net debt                        <\/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\/11\/06\/aramco-net-income-dips-in-3q-as-oil-giant-swings-into-debt\/\" target=\"_blank\">\n                    Open in new tab                    <!-- <img decoding=\"async\" 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alt=\"\" data-attachment-id=\"82204\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/aramco-net-income-dips-in-3q-as-oil-giant-swings-into-debt\/370-jpg-5\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/370.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"370.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/370.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/10\/370.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82203\" class=\"content-area-description single-story post-82203 post type-post status-publish format-standard has-post-thumbnail hentry category-earnings-watch tag-aramco tag-earnings-watch tag-oil-and-gas 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\/11\/.e8d9cddb-99db-49c9-8026-f493bae107b0.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Saudi Aramco posted SAR 103.4 bn (USD 27.6 bn) in net income in 3Q 2024, <\/strong><strong>down 15.4% y-o-y<\/strong>, while revenues fell 1.8% during the period at SAR 416.6 bn, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/355.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a> and a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83414&anCat=1&cs=2222&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The third quarter also saw the state-owned oil giant swing into a net debt position of SAR <\/strong><strong>33.35 bn<\/strong>, compared to net cashflow SAR 102.75 during the same period last year. This marks the first time in two years that the company has found itself indebted as it maintains dividend payouts that exceed its earnings, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/aramco-keeps-world-s-biggest-payout-with-saudi-finances-wobbling\" style=\"\" rel=\"noopener\">Bloomberg<\/a> said. The story also got ink from the <a target=\"_blank\" href=\"https:\/\/apnews.com\/article\/saudi-aramco-third-quarter-results-oil-energy-cbf948ff334e0c91b5f77debf9219179\" style=\"\" rel=\"noopener\">Associated Press<\/a>, <a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/energy\/saudi-aramco-third-quarter-profit-drops-15-2024-11-05\/\" style=\"\" rel=\"noopener\">Reuters<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2024\/11\/05\/oil-giant-saudi-aramco-posts-15percent-drop-in-third-quarter-profit-but-maintains-dividend.html?&qsearchterm=Saudi\" style=\"\" rel=\"noopener\">CNBC<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Third quarter earnings vs. forecasts:<\/strong> The latest earnings exceeded Aramco\u2019s median estimate of USD 26.9 bn, as well as Citi\u2019s USD 26.3 bn projection, Reuters notes. Meanwhile, results for third quarter adjusted net income attributable to shareholders fell short of analyst estimates collected by Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 9M basis:<\/strong> The state-owned oil giant\u2019s bottom line dropped 11.3% y-o-y at SAR 314.7 bn in the first nine months of the year, while its top line remained largely unchanged, up 0.02% at SAR 1.24 tn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why the numbers moved the way they did:<\/strong> Aramco attributed the decline in net income to falling crude prices and weaker refining margins, with its nine-month performance also taking hits from lower volumes sold. The firm sold crude at an average of USD 79.30 a barrel during 3Q, USD 10 lower than the previous year, Bloomberg said. Meanwhile Saudi production has been capped at 9 mn bbl \/ d for upwards of a year due to ongoing Opec+ production cuts. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI:<\/strong> Opec+ pushed back a planned 180k bbl \/ d output hike for December for another month <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/512d9cc1-e6a0-445e-b21a-114fc0e4c10e\/rybakina-vs.-zheng-%2B-paolini-vs.-sabalenka-at-wta-finals-today\" style=\"\" rel=\"noopener\">earlier this week<\/a>, amid lingering concerns of soft oil demand from China and a glut in supply. This <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/6fd1f54f-2a08-4db2-bb29-95548d661e52\/nmdc-energy-closes-aed-3.2-bn-ipo-with-31x-oversubscription-rate%3B-shares-start-trading-11-september\" style=\"\" rel=\"noopener\">marks the second time<\/a> the global oil group postpones productions restarts that were originally slated for October. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Business as usual in terms of dividends: <\/strong>The world\u2019s largest oil exporter maintained its generous dividend payouts for the quarter, distributing a total of SAR 116.45 bn (USD 31.05 bn) composed of a SAR 76.06 bn base dividend, and a SAR 40.39 bn performance-linked dividend, Aramco said in a separate <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=83415&anCat=1&cs=2222&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Concerns remain on dividend sustainability: <\/strong>Analysts had previously pegged Aramco\u2019s dividend payments as <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/f107195b-68e1-462a-b393-e93655016f8b\/%253cmark%253earamco%253c%2Fmark%253e%253cmark%253e-earnings%253c%2Fmark%253e-dip-again-in-2q-2024,-but-maintains-dividend#:~:text=Analysts%20raise%20dividend%20sustainability%20concerns%3A%20Aramco%E2%80%99s%20dividend%20payments%20exceed%20the\" style=\"\" rel=\"noopener\">\u201cunsustainable\u201d<\/a> given that they exceed FCF and would ultimately drive the company to increase borrowing. The world\u2019s largest dividend payouts are starting to weigh on the company\u2019s finances, particularly against a backdrop of a weak outlook for oil, Bloomberg wrote in its coverage.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Aramco will have to decide early next year between maintaining its generous payouts to <\/strong><strong>shareholders \u2014 and consequently increasing borrowing \u2014 or cutting back dividends<\/strong> and depriving the Saudi state of key financing it needs to shore up its budget, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-11-05\/saudi-aramco-faces-31-billion-dividend-dilemma-as-debt-jumps\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reported separately. The Saudi government is by far Aramco\u2019s largest stakeholder and relies heavily on its dividends to finance economic diversification plans. Aramco had previously leveraged debt to maintain its dividend payments during the covid-19 pandemic \u2014 a strategy that is not uncommon among large oil companies during slowdowns, the business information service notes. Aramco\u2019s 2% net debt-to-equity ratio remains far lower than that of other major oil players, Bloomberg said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER:<\/strong> Aramco closed its <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/59180e92-a37f-4bda-8b38-8c25be51e0cc\/%253cmark%253earamco%253c%2Fmark%253e-wraps-up-a-usd-6-bn-bond-sale\" style=\"\" rel=\"noopener\">first bond sale in three years<\/a> in July, and tacked on another <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/08cf0af6-b2c8-4ddb-af42-ee568809fc32\/aramco-raises-usd-3-bn-from%253cmark%253e-sukuk%253c%2Fmark%253e-sale\" style=\"\" rel=\"noopener\">in August<\/a> \u2014 raising a combined USD 9 bn so far this year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Despite FCF hitting SAR 82.47 bn in 3Q 2024<\/strong>, up SAR 6.19 bn y-o-y on the back of \u201cfavorable movements in working capital,\u201d the measure shed more than SAR 40 bn on a yearly basis to settle at SAR 238.91 bn in 9M \u2014 with Aramco attributing the decline to lower earnings.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Capex is still on the rise:<\/strong> Aramco\u2019s capital expenditure stood at SAR 49.59 bn in 3Q 2024, up SAR 8.24 bn y-o-y, as the company funneled considerable investments into its upstream operations to maintain a maximum sustainable production capacity of 12 mn bbl \/ d, while also boosting downstream assets. <\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n    <div class=\"tags-section\">\n        <div class=\"f-graphik\">Tags:<\/div>\n        <div class=\"tags-list\">\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/aramco\/\">Aramco<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/earnings-watch\/\">EARNINGS WATCH<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/oil-and-gas\/\">oil and gas<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                    <\/div>\n    <\/div>\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82205 advertiser\" class=\"issue-section enterprise-adv\">\n<div class=\"issue-section__content\">\n<div class=\"stories\">            <!-- Show divider before story section -->\r\n        <div \r\n            class=\"\r\n                            \"\r\n            id=\"82205\">\r\n            \r\n            <div class=\"story__body\">\r\n\r\n                <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/82205\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82205\" class=\"content-area-description single-story post-82205 post type-post status-publish format-standard hentry category-advertiser wpautop entry\">\n\n\t\n\t<div class=\"entry-content\">\n\n\t\t\n\t\t<p><span style=\"font-weight:400;\"><a href=\"https:\/\/ak-ships.com\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/87.jpg?ssl=1\"><\/a><\/span><\/p>\n\n\t<\/div><!-- .entry-content -->\n\n\t\n<\/article><!-- #post-${ID} -->\n\n\n            <\/div>\r\n        <\/div> <!-- \/.story -->\r\n    \n    \n\n    <\/div>\n<\/div>\n<\/section>\n<section id=\"82206\" 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=\"82206\">\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\">Also on Our Radar<\/p>\r\n                    <h3 class=\"story-title\">\r\n                        <a href=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/updates-on-aviation-shipping-and-trade-from-egypt-and-the-uae\/\">\r\n                            Updates on aviation, shipping and trade from Egypt and the UAE                        <\/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 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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\/11\/06\/updates-on-aviation-shipping-and-trade-from-egypt-and-the-uae\/\">\r\n                    <div class=\"photo photo--above\">\r\n                        <img decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/493.jpg?fit=1568%2C9999&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" data-attachment-id=\"82207\" data-permalink=\"https:\/\/enterpriseam.com\/logistics\/2024\/11\/06\/updates-on-aviation-shipping-and-trade-from-egypt-and-the-uae\/493-jpg-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/493.jpg?fit=%2C&amp;ssl=1\" data-orig-size=\"\" data-comments-opened=\"0\" data-image-meta=\"[]\" data-image-title=\"493.jpg\" data-image-description=\"\" data-image-caption=\"\" data-medium-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/493.jpg?fit=300%2C300&amp;ssl=1\" data-large-file=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/493.jpg?fit=1024%2C1024&amp;ssl=1\" \/>                    <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82206\" class=\"content-area-description single-story post-82206 post type-post status-publish format-standard has-post-thumbnail hentry category-also-on-our-radar tag-also-on-our-radar tag-aviation tag-dae tag-dp-world tag-egypt tag-shipping-maritime tag-suez-canal-authority tag-trade 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\/11\/.589f92e9-2934-471f-941b-34655f7ee2fe.mp3\"><\/audio><\/figure>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1- <\/strong><strong>DAE + Eastar<\/strong><strong> Jet ink lease agreements:<\/strong> Dubai Aerospace Enterprise (DAE) signed lease agreements with South Korea\u2019s Eastar Jet for three new Boeing 737-8 aircraft, according to a <a target=\"_blank\" href=\"https:\/\/dubaiaerospace.com\/2024\/11\/05\/dae-signs-lease-agreements-with-eastar-jet-for-three-new-boeing-737-8-aircraft\/\" style=\"\" rel=\"noopener\">press release<\/a>. The aircrafts are scheduled for delivery in mid-2025 and 1Q of 2026. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>DAE is on a roll: <\/strong>DAE inked a lease agreement on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/f298ace4-44c9-4e82-bebf-b3a284f447ac\/hainan-leases-four-new-aircraft-from%253cmark%253e-dae%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">Monday<\/a> with China\u2019s Hainan Airlines for four Boeing 737-8, scheduled for delivery in Q4 2025 and 1Q 2026.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Umm Al Qaiwain is stepping up its logistics game:<\/strong> Umm Al Quwain Crown Prince Sheikh Rashid bin Saud bin Rashid Al Mu\u2019alla announced the establishment of a Logistics City and a Cargo Airport during the UAE Government Annual Meetings 2024, <a target=\"_blank\" href=\"https:\/\/www.wam.ae\/en\/article\/b61k52l-umm-qaiwain-launches-logistics-city-cargo-airport\" style=\"\" rel=\"noopener\">Wam<\/a> reports. <\/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\">SHIPPING + MARITIME-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>SCA + IC<\/strong><strong>S continue cooperation: <\/strong>The Suez Canal Authority (SCA) inked an MoU to continue cooperation with the International Chamber of Shipping (ICS), according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/SuezCanalAuthorityEG\/posts\/pfbid0NQX494VswkVBQS9cmcb9QeQ8YQCHMKTJUiLKfCQ8KPbBExuWKxY533iHMu2YJikNl\" style=\"\" rel=\"noopener\">statement<\/a>. The agreement aims to facilitate the exchange of information and expertise as well as promote the maritime and logistics services offered by the authority to its clients. It also aims to monitor developments in the canal's navigational channel projects, oversee the authority's marketing and pricing strategies, and explore measures to improve navigational safety. <\/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\">TRADE<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Dubai Customs partnered with DP World to overh<\/strong><strong>aul its<\/strong><strong> customs systems by <\/strong><strong>upgrading the implemented digital trade and logistics solutions<\/strong>, according to the <a target=\"_blank\" href=\"https:\/\/www.mediaoffice.ae\/en\/news\/2024\/november\/05-11\/dubai-customs-and-dp-world-agreement\" style=\"\" rel=\"noopener\">Dubai Media Office<\/a>. The move seeks to streamline customs procedures for businesses in Dubai and facilitate cross-border trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>OTHER STORIES WORTH KNOWING THIS MORNING-<\/strong><\/p>\n<ul>\n<li><strong>E<\/strong><strong>mirates brings back E<\/strong><strong>dinbu<\/strong><strong>rgh flights: <\/strong>Emirates has brought back daily flights to Scotland\u2019s capital Edinburgh on 5 November for the first time since 2020. (<a target=\"_blank\" href=\"https:\/\/www.emirates.com\/media-centre\/emirates-returns-to-edinburgh-with-a-daily-service\/\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<li><strong>Mawani adds new MSC shipping service:<\/strong> The Saudi Ports Authority (Mawani) added a new shipping service by MSC \u2014 dubbed the Turkey to Red Sea Express Service \u2014 connecting Jeddah Islamic Port with key ports in Turkey and Jordan with a 6k TEU capacity. (<a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?a=041124\" style=\"\" rel=\"noopener\">Statement<\/a>) <\/li>\n<li><strong>Qatar Airways + C<\/strong><strong>argoFlash to expand in India<\/strong><strong>: <\/strong>CargoFlash\u2019s Octoloop digital booking platform, in cooperation with Qatar Airways, is expanding its network to include 10 new Indian cities. (<a target=\"_blank\" href=\"https:\/\/aircargoweek.com\/octoloop-and-qatar-airways-boost-indias-global-cargo-connectivity\/\" style=\"\" rel=\"noopener\">Air Cargo Week<\/a>) <\/li>\n<li><strong>Egypt + Italy<\/strong><strong> to launch Ro-Ro line: <\/strong>The Egyptian Industry and Transport Ministry is launching a Ro-Ro line between Egypt\u2019s Damietta Port and Italy\u2019s Trieste Port on 29 November. (<a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02roqrtt2C3MTJ7aoec17HRRCyi3QoepD8WaJ1CGRjMsJmn8vX8iBEgMP2WJUfZABbl?locale=ar_AR\" style=\"\" rel=\"noopener\">Statement<\/a>)<\/li>\n<\/ul>\n\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\/dae\/\">DAE<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/dp-world\/\">DP World<\/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\/shipping-maritime\/\">SHIPPING + MARITIME<\/a>\n                <!-- <span class=\"sep\">,&nbsp;<\/span> -->\n                            <a rel=\"tag\" href=\"https:\/\/enterpriseam.com\/logistics\/tag\/suez-canal-authority\/\">Suez Canal Authority<\/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                            <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=\"82208\" 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\/11\/06\/82208\/\">\r\n                    <div class=\"photo photo--above\">\r\n                                            <\/div>\r\n                <\/a>\r\n\r\n                \n<article id=\"post-82208\" class=\"content-area-description single-story post-82208 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\">NOVEMBE<\/span><span style=\"font-weight:700\">R<\/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>11-12 November (Monday-Tuesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.saudiairportexhibition.com\/\" style=\"\">Saudi Airport Exhibition<\/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>13-15 November (Wednesday-Friday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.azernews.az\/business\/230842.html\" style=\"\">ITC North-South - New Horizons<\/a><\/span><span style=\"font-weight:400;\">, Astrakhan, Russia<\/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;line-height:1.15;margin-right:-9pt;margin-left:0;margin-top:0;orphans:2;margin-bottom:0;widows:2;text-align:left\"><span>19-21 November (Tuesday-Thursday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/simrsnf.com\/\" style=\"\">Saudi International Maritime Forum<\/a><\/span><span style=\"font-weight:400;\">, Dammam, 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;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">20-21 November (Wednesday-Thursday): Saudi Rail Exhibition, Riyadh, Saudi Arabia.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span>29 November (Friday): Egypt and Italy to launch a ro-ro shipping line connecting Damietta Port with Port of Trieste.<\/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>2-3 December (Monday-Tuesday) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/events\/all\/wings-of-change-middle-east\/\" style=\"\">Wings of Change Middle East<\/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>10-11 December (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/morocco.railmeetings.com\/en\/\" style=\"\">Rail Industry Summit<\/a><\/span><span style=\"font-weight:400;\">, Casablanca, Morocco.<\/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 style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.iata.org\/en\/pressroom\/2024-releases\/2024-06-03-04\/\" style=\"\">IATA Annual General Meeting (AGM) and World Air Transport Summit<\/a><\/span><span style=\"font-weight:400;\">, New Delhi, India.<\/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>2Q 2025: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/share\/p\/tWzEZHVq6kk1CNvX\/\" style=\"\">ICAO Facilitation Conference 2025<\/a><\/span><span style=\"font-weight:400;\"> (FLAC 2025), Dohar, Qatar. <\/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;\">FEBRUARY <\/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>4-5 February (Tuesday-Wednesday): <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.seatrade-maritime.com\/event-news\/qatar-boosts-maritime-growth-new-shipping-event-2025\" style=\"\">Seatrade Maritime Qatar<\/a><\/span><span style=\"font-weight:400;\">, Doha, Qatar.<\/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;\">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>4-6 November: <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/tiaca.org\/tiaca-to-hold-air-cargo-forum-2025\/\" style=\"\">The International Air Cargo Association TIACA\u2019s Air Cargo Forum 2025<\/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 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\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>PMIs are in for Egypt, KSA, UAE | Egypt designates land for Kemet Data Center | Aramco net income dips in 3Q<\/p>\n","protected":false},"featured_media":82191,"menu_order":0,"template":"","categories":[],"tags":[],"class_list":["post-82190","issue","type-issue","status-publish","has-post-thumbnail","hentry","wpautop","entry"],"acf":{"mongo_id":"90bdd36c-76f7-4a81-956e-acabee7eaa74","teaser":"PMIs are in for Egypt, KSA, UAE | Egypt designates land for Kemet Data Center | Aramco net income dips in 3Q","photo_url":"https:\/\/ent.news\/2024\/5\/489.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>GCC countries continue to see non-oil sector growth, while Egypt\u2019s and Lebanon\u2019s contract - Logistics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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