{"id":78107,"date":"2024-04-24T00:00:00","date_gmt":"2024-04-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/24\/today-aed-bns-allocated-to-uae-oman-railway-flynas-inches-closer-to-ipo\/"},"modified":"2024-04-24T00:00:00","modified_gmt":"2024-04-24T00:00:00","slug":"today-aed-bns-allocated-to-uae-oman-railway-flynas-inches-closer-to-ipo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/04\/24\/today-aed-bns-allocated-to-uae-oman-railway-flynas-inches-closer-to-ipo\/","title":{"rendered":"TODAY: AED bns allocated to UAE-Oman railway + Flynas inches closer to IPO"},"content":{"rendered":"

Good morning, nice people. <\/strong>It\u2019s a heavy news day with lots of updates filing in from across the region and beyond. We have a little bit of everything from rail to aviation to ports. Let\u2019s dive in.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- Over 100 firms have said they\u2019re interested in working on the expansion of <\/strong>Abha airport in Saudi<\/strong>, SPA<\/a> reports, citing statements by the General Authority of Civil Aviation (GACA) Chairman Abdulaziz Al Duailej at an industry gathering. Al Duailej provided no further details, but noted the expansion is part of a drive to open the aviation industry to the private sector. <\/p>\n

BACKGROUND-<\/strong> The Saudi Civil Aviation Holding (commonly known as Matarat) and the National Centre for Privatization & PPP called earlier this year<\/a> for expressions of interest in the Abha project, one of four airport projects the NCP is putting out to tender tender as part of a pipeline of 200 privatization and PPP projects. Expect<\/a> a final request for proposals in July.<\/p>\n

<\/a>#2- Dubai Airports have fully resumed operations at maximum capacity<\/strong>, including staffing,logistics, and facilities, CEO Paul Griffiths said in a statement<\/a>. Dubai International Airport returned to its regular flight schedule of around 1.4k flights daily, earlier than previously expected. \u201cRoads in and around the airport [are] 100% clear of water accumulation,\u201d although there are still some lingering baggage backlog issues that the airport is actively working to resolve, Griffiths said.<\/p>\n

The scale of disruption:<\/strong> The storm resulted in upwards of 2k flights being canceled and 115 diverted. Over 75k food packs were provided to guests by airport workers during disruptions. Some 31 flights were redirected to Dubai World Central (DWC), and as of 19 April, all passengers at the airport received support and were able to proceed with their travel arrangements.<\/p>\n

<\/a>#3- The <\/strong>EU has <\/strong>reached an agreement on a new round of sanctions on Iran<\/strong>, in response to its attack on Israel, with the latest measures designed to curb the export of EU-made parts used in the production of drones and ballistic missiles, Euronews<\/a> reported earlier this week. The measures have also targeted individuals involved in Iran\u2019s drone program via travel bans and asset-freezes. Iran has said that the sanctions are \u201cregrettable,\u201d seeing as it undertook the strikes on Israel in self-defense, Reuters<\/a> reports, citing statements by Iran's top diplomat Hossein Amirabdollahian on X.<\/p>\n

DISRUPTION WATCH- <\/p>\n

An Iranian air defense radar system was reportedly hit in last week\u2019s <\/strong>retaliatory<\/a><\/strong>strike<\/a><\/strong> by Israel<\/strong>, AP<\/a> reports, citing analysis of satellite images of a military site in Isfahan taken on Monday. The Israeli attack came as a tit-for-tat for Iran\u2019s missile and drone attack<\/a> which unfolded a week prior. Iran has since downplayed the effects of Israel\u2019s attack, AP said. <\/p>\n

Red Sea disruptions have seen volumes surge at Morocco\u2019s Tangier-Med and<\/strong> other West Mediterranean ports, leading to congestion<\/strong>, <\/strong>The Financial Times<\/a> reports. Tangier-Med\u2019s TC3 container terminal has been consistently at near full capacity so far this year, Tangier Alliance\u2019s management board president Nabil Boumezzough told the FT. \u201cThis is challenging your efficiency and challenging your productivity and challenging how you manage your port,\u201d Boumezzough said. Vessel tracking data also shows vessels anchoring offshore Algeciras and Tangier for wait periods before berthing, indicating congestion at these ports, the FT also said. <\/p>\n

MARKET WATCH- <\/p>\n

Oil prices inched up today while eyes remain affixed on tension in the Middle East<\/strong>, Reuters<\/a> reports. Brent crude futures gained 0.6% at USD 86.47 a barrel by 13.25 GMT, while US West Texas Intermediate (WTI) crude futures climbed 0.1% to USD 83.44, the newswire writes. Brent and WTI had rallied USD 1 earlier in the trading day on the back of data showing a ramp in business activity in the eurozone.<\/p>\n

Baltic index slumps, yanked down by falling capesize: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 was down 1.9% to 1,882 points on Monday, breaking an eight-session streak, Reuters<\/a> reported. The larger capesize subindex dropped 4.8% to 2,702, hitting its lowest level in a week, while panamax gained 0.6% to settle at 1,928 points, approaching a one-month high. The smaller supramax segment edged up 1.2% to 1,410 points.<\/p>\n

DATA POINT- <\/p>\n

Customs declarations at land, sea and air entry points in KSA grew 10.6% y-o-y in 2023 to <\/strong>c. 6 mn<\/strong>, Aleqtisadiah<\/a> reported, citing data by the Zakat, Tax and Customs Authority (ZATCA). The increase came after officials cut clearance times to as low as two hours from a previous 12 days as the Kingdom positions itself as a global logistics hub.<\/p>\n

<\/a> <\/p>\n

OUR NEXT FORUM IN CAIRO-<\/p>\n

Foreign investors are falling in love with Egypt again\u2026<\/strong> Foreign investors we speak with (debt, equity, and strategic alike) have growing appetite for Egypt. They\u2019re buying into local debt, eyeing promising shares, and committing bns of USD to both new ventures here and the growth of their existing businesses. They like the Egypt story that\u2019s taking shape after the float of the EGP, and its competitive advantages are clear to many of them: It\u2019s a massive consumer opportunity and a regional export hub of tomorrow.<\/strong><\/p>\n

The Enterprise Optimism Forum 2024 will do exactly what it says on the tin:<\/strong> Spark conversations about a future that sees Saudi Arabia, Egypt, and the the UAE at the heart of a more vital Middle East economy \u2014 and provide an early, actionable roadmap for those who are \u201clong Egypt.\u201d<\/p>\n

We\u2019ll be talking with you about the agenda over the coming couple of weeks. <\/strong>It features speakers from Egypt and abroad who are future-proofing their businesses and angling to capture tomorrow\u2019s opportunities \u2014 and who aren\u2019t afraid to answer some tough questions. <\/p>\n

*<\/a><\/strong>* Interested in attending? <\/strong>Tap or click here to let us know<\/a><\/strong>.<\/strong> Seating is limited. <\/p>\n

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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

Subscribe here<\/a> <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Saudi Arabia will host a special <\/strong>World Economic Forum<\/a><\/strong> event fr<\/strong>om Sunday, 28 April through to Monday, 29 April<\/strong> in Riyadh. The event will focus on global collaboration and energy.<\/p>\n

Qatar will host the <\/strong>Autonomous E-mobility Forum<\/a><\/strong> from Tuesday, 30 April to Thursday, 2 <\/strong>May<\/strong> in Doha. The event will gather industry experts, senior officials, policy and technology experts, as well as government, academic, and media representatives, providing a platform for stakeholders to exchange know-how and recommendations for the implementation of autonomous e-mobility in the real-world. <\/p>\n

Saudi Arabia will host the <\/strong>Saudi Smart Logistics<\/a><\/strong> exhibition and summit from Monday, 6 <\/strong>May to Thursday, 9 May<\/strong> in Riyadh. The trade fair brings together local and international suppliers, public officials, professionals, and logistics players, and provides a platform for networking, exchanging know-how, and showcasing new technologies, products, and services.<\/p>\n

The UAE will host the <\/strong>Airport Show<\/a><\/strong> from Tuesday, 14 May through to <\/strong>Thursday, 16 May<\/strong> in Dubai. The 23rd Airport Show will see representation from airport suppliers, airport service providers, aviation executives, and regional decision makers. The event will highlight current innovations and new technologies, while emphasizing this year\u2019s \"Sustainability and Innovation,\" theme.<\/p>\n

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","protected":false},"excerpt":{"rendered":"

What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":78108,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[145,119,150,178,31,123,129,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78107","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-iran","tag-morocco","tag-red-sea","tag-saudi-arabia","tag-shipping-maritime","tag-uae","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"05921719-b0bc-49ad-818e-a1e59ff6d449","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1194.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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