{"id":78594,"date":"2024-05-16T00:00:00","date_gmt":"2024-05-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/16\/today-dp-world-sinks-usd-mns-in-romania-emirates-is-set-to-use-saf-at-heathrow\/"},"modified":"2024-05-16T00:00:00","modified_gmt":"2024-05-16T00:00:00","slug":"today-dp-world-sinks-usd-mns-in-romania-emirates-is-set-to-use-saf-at-heathrow","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/05\/16\/today-dp-world-sinks-usd-mns-in-romania-emirates-is-set-to-use-saf-at-heathrow\/","title":{"rendered":"TODAY: DP World sinks USD mns in Romania + Emirates is set to use SAF at Heathrow"},"content":{"rendered":"

Good morning, friends. <\/strong>DP World is in the headlines again with a sizable investment in the Romanian logistics sector, and we have a steady stream of updates this morning from the aviation industry both at home and abroad. First up, Boeing\u2019s hot water heats up\u2026<\/p>\n

<\/a>THE BIG LOGISTICS STORY ABROAD- Boeing could face criminal charges: <\/strong>Boeing could face criminal prosecution in the US due on 2021 agreement protecting the company from criminal charges over two fatal 737 Max plane crashes in 2018 and 2019 resulted in 346 fatalities, Reuters<\/a> reports, citing a Department of Justice (DOJ) statement. The firm breached the settlement by \u201cfailing to design, implement, and enforce a compliance and ethics program to prevent and detect violations of the US fraud laws throughout its operations,\u201d the DOJ said. Boeing had paid USD 2.5 bn to settle a conspiracy charge with the DOJ in 2021.<\/p>\n

What now?<\/strong> Boeing has denied the DOJ\u2019s claims and the company will have 30 days to respond. Federal prosecutors are still considering how to proceed, CNBC said, citing a court filing in Texas.<\/p>\n

The story was also picked up by <\/strong>The Washington Post<\/a><\/strong>, <\/strong>The Wall Street Journal<\/a><\/strong>, <\/strong>CNN<\/a><\/strong>, and <\/strong>CNBC<\/a><\/strong>.<\/strong><\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a>#1- British Airways returns to Jeddah:<\/strong> British Airways will resume flights to Jeddah starting Monday, 4 November, ending a three-year hiatus that began during covid-19, according to a statement<\/a> by the Saudi Air Connectivity Program. The airline will operate four weekly flights between London and Jeddah, the statement said. The British flagship carrier suspended flights<\/a> to Jeddah and other long-haul destinations including Abu Dhabi in 2021 in a bid to slash losses caused by the grounding of flights due to the pandemic.<\/p>\n

#2- QIA is eyeing semiconductor industry investments: <\/strong>The Qatar Investment Authority (QIA) plans to make an anchor investment in France\u2019s Ardian Semiconductor<\/a> fund, according to a statement<\/a>. The move is part of QIA's strategy to increase investment in the semiconductor industry, which is crucial for digital and green transformations across sectors like artificial intelligence, mobility, and consumer technology, the statement said. The expected investment ticket was not disclosed. Established by French private equity firm Ardian<\/a> last year, the semiconductor platform aims to boost investment across the semiconductor value chain with a focus on Europe. The initiative will both work to provide capital solutions and operational expertise.<\/p>\n

QIA has been expanding its interest in semiconductors: <\/strong>QIA acquired a minority stake<\/a> in Japan-based semiconductor manufacturing giant Kokusai Electric Corporation in June 2023. This came on the back of increasing demand for the tech from high-growth industries such as data centers and AI.<\/p>\n

Not the first in the region to eye semiconductors: <\/strong>KSA\u2019s King Abdulaziz City for Science and Technology signed agreements<\/a> to establish a center of excellence in AI tech and to develop the country\u2019s semiconductor industry in March. The UAE is also seeking support from the US to become a producer of advanced semiconductors<\/a>, in a bid to position itself as a regional heavyweight in artificial intelligence.<\/p>\n

IN OTHER QATARI NEWS-<\/strong>M<\/strong>ore long-term LNG contracts are in the pipeline this year in response to <\/strong>growing global demand<\/strong>, <\/strong>Reuters<\/a> reports, citing statements by QatarEnergy CEO Saad Al Kaabi at the Qatar Economic Forum (QEF). \u201cWe've actually secured 25 mn tons of long-term LNG sales (in the last 12 months) and I can tell you also on this podium that we're signing more this year,\u201d Al Kaabi said. QatarEnergy \u2014 which serves as the country\u2019s main LNG supplier \u2014 inked several supply agreements with European and Asian buyers as the country looks to boost production via the North Field expansion, the newswire said.<\/p>\n

ALSO-<\/strong>Qatar Airways is looking to invest in a southern African airline as part of <\/strong>expansion plans, <\/strong>Reuters<\/a> reports, citing statements by Qatar Airways CEO Badr Mohammed Al Meer at QEF. \u201cWe are at the final stage of an equity investment in an airline in the southern part of Africa,\u201d Al Meer said, adding that an investment could be announced in two to three weeks.<\/p>\n

Qatar Airways acquired a 60% stake in a <\/strong>USD 1.3 bn international airport development in Rwanda<\/strong> slated for completion in 2027, the newswire says. The carrier also kicked off its first cargo hub outside of Qatar<\/a> last year at Kigali International Airport (KGL) in Rwanda in partnership with RwandAir.<\/p>\n

DISRUPTION WATCH- <\/p>\n

<\/a>Yemen withholds permits for repairs to subsea cable: <\/strong>Yemen has launched a criminal probe into the multinational consortium that owns the damaged AAE-1 subsea internet cable on the basis it transacts with the Sanaa-based rival Houthi government, Bloomberg<\/a> reports, citing sources and a document it had seen. The internationally-recognized government is withholding permits for repairs, leading the Houthi-controlled government to issue a statement calling the allegations harmful to Yemen\u2019s telecom sector. Telecom outfits are an important source of funding for the Houthis, UN Security Council reports show.<\/p>\n

REMEMBER- <\/strong>AAE-1 is one of three severed internet cables<\/a> that carry large volumes of internet traffic which has since been rerouted. Earlier reports identified the sunken Rubymar\u2019s anchor<\/a> as the most likely cause behind the cables\u2019 damage. Aden\u2019s government has granted permits for repairs to two cables<\/a>, Seacom and EIG, but has refused to collaborate with Teleyemen\u2019s Sanaa-based representatives, part of the consortium that owns AAE-1, leading it to turn down a request for permits to carry out repairs.<\/p>\n

MARKET WATCH- <\/p>\n

#1- Oil prices picked up this morning in response to slower inflation and stronger demand in the <\/strong>US<\/strong>, <\/strong>Reuters<\/a> reports. Brent crude futures rose 0.4% to USD 83.10 a barrel by 03.10 GMT, while US West Texas Intermediate (WTI) crude slid up 0.5% to USD 79.03 a barrel. \"A more tamed read for US April inflation and a far weaker-than-expected read in US retail sales seem to offer room for the Fed to consider earlier rate cuts, with market expectations leaning more firmly for policy easing to kickstart in September this year,\" IG market strategist Yeap Jun Rong told the newswire.<\/p>\n

#2- <\/strong>Baltic index hits more than one-week low: <\/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 3.53% to 1,1993 points on Tuesday, hitting its lowest since 3 May as flagging demand across all segments dragged down the index, Reuters<\/a> reports. The capesize subindex dropped 5.69% to 2,931 points, while the panamex subindex ticked down 1.93% to settle at 1,978 points. The supramax index slipped 0.67% to 1,475 points.<\/p>\n

PSA-<\/p>\n

Sheikh Khalifa Bin Zayed street in Al Ain will see a partial closure <\/strong>until 11 August,<\/strong> AD Mobility said<\/a> on X. <\/p>\n

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

Iran will host the <\/strong>International Exhibition of Rail Transportation and Related<\/a><\/strong>Industries<\/a><\/strong> from Saturday 18 May to Tuesday 21 May <\/strong>in Tehran. The exhibition looks to attract domestic and international firms to showcase Iran\u2019s local rail manufacturing capabilities and to acquaint industry players with developments made in the industry worldwide.<\/p>\n

The UAE will host <\/strong>The Electric Vehicle Innovation Summit<\/a><\/strong> from Monday, 20 May to Wednesday, 22 May<\/strong> in Abu Dhabi. The event will see industry leaders come together to discuss sustainable mobility and tapping into groundbreaking advancements in electric vehicles while engaging with key decision-makers.<\/p>\n

Saudi Arabia will host the <\/strong>Future Aviation Forum<\/a><\/strong> from Monday, 20 May to <\/strong>Wednesday, 22 May<\/strong> in Riyadh. The event, organized by the General Authority of Civil Aviation, will see the Kingdom showcasing some USD 100 bn worth of investment options in the aviation and logistics sector at large. <\/p>\n

Barbados will host<\/strong>UNCTAD<\/a><\/strong>\u2019s<\/strong>Global Supply Chain Forum<\/a><\/strong> from Tuesday, 21 May to Friday, 24 May<\/strong> in Bridgetown. UNCTAD is holding the event in collaboration with the Government of Barbados, which aims to evaluate the role global supply chains have in supporting economic growth, creating jobs, and reducing poverty. Global industry leaders, policymakers and experts will convene to discuss forthcoming issues and explore innovative solutions. <\/p>\n

Oman will host the <\/strong>Comex Technology Show<\/a><\/strong> from Monday, 27 May to Saturday, 30 May<\/strong> in Muscat. The event will see representation from industry leaders and decision makers to showcase buyer potential in innovative technology, in transportation, logistics, energy and healthcare sectors.<\/p>\n

Egypt will host <\/strong>ProPak MENA<\/a><\/strong> from Sunday, 26 May to Tuesday, 28 May<\/strong> in Cairo. The conference will see F&B manufacturing industry professionals network and discover the latest equipment and logistic solutions for processing and packaging.<\/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":78595,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[146,32],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78594","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-boeing","tag-trade","wpautop","entry"],"acf":{"mongo_id":"d9a77ce9-d103-4348-a58a-fa61048088ca","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/4\/476.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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