{"id":87926,"date":"2025-07-31T00:00:00","date_gmt":"2025-07-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/31\/today-cwa-textiles-new-factory-in-sokhna-industrial-zone-turkish-airlines-dib-ink-islamic-finance-agreement\/"},"modified":"2025-07-31T00:00:00","modified_gmt":"2025-07-31T00:00:00","slug":"today-cwa-textiles-new-factory-in-sokhna-industrial-zone-turkish-airlines-dib-ink-islamic-finance-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2025\/07\/31\/today-cwa-textiles-new-factory-in-sokhna-industrial-zone-turkish-airlines-dib-ink-islamic-finance-agreement\/","title":{"rendered":"TODAY: CWA\u2019 Textile\u2019s new factory in Sokhna Industrial Zone + Turkish Airlines, DIB ink Islamic finance agreement"},"content":{"rendered":"

Good morning, friends, and happy Thursday. <\/strong>We\u2019re ending the work week \u2014 and the month \u2014 with a brisk read today, led by yet another textile factory in Egypt\u2019s Sokhna Industrial Zone. Plus, Turkish Airlines has signed its first shariah-compliant finance agreement to fund its Airbus jet purchase. Let\u2019s dive in?<\/p>\n

THE BIG LOGISTICS STORY-<\/strong><\/p>\n

The US\u2019 latest trade agreements ahead of tomorrow\u2019s deadline are still gettin<\/strong>g top billing in the foreign press<\/strong>, along with fresh sanctions on Iran<\/strong>. <\/p>\n

The US and South Korea reached a trade agreement<\/strong>, setting a 15% tariff on South Korean exports to the US, in exchange for USD 350 bn in investments in US-owned projects selected by US President Donald Trump, Trump said on Truth Social. This is in addition to USD 100 bn in energy investments in the US. This follows a similar structure to the agreement with the UK and Japan, which also pledged investments in exchange for lower tariffs. (Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/a> | Politico<\/a> | Axios<\/a>)<\/p>\n

Not yet as lucky? India<\/strong>, which could face a 25% tariff on its exports to the US as of tomorrow if ongoing talks end with no agreement. (Bloomberg<\/a> | Guardian<\/a>)<\/p>\n

ALSO- The US doubled down on its pressure campaign on Iran with sweeping new sanctions<\/strong> on 115 Iran-linked individuals and businesses, broadly targeting the shipping business of Hossein Shamkhani, the son of senior adviser to Supreme Leader Ayatollah Ali Khamenei. (Bloomberg<\/a> | Reuters<\/a>) <\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> <\/strong> #1- <\/strong>Egypt\u2019s <\/strong>Suez Canal Authority is extending its 15% <\/strong>reduction<\/strong> on<\/strong> container ship crossing fees until the end of 2025<\/strong>, in a bid to encourage increased traffic through the strait, Asharq Business<\/a> reports. The canal introduced a markdown on container vessels with a net load over 130k tons back in May<\/a>, initially for 90 days.<\/p>\n

Did the move entice wary shippers? <\/strong>The move aimed to encourage shippers who may lack the financial incentive to accelerate their return to the Red Sea route. It came shortly after Authority head Osama Rabie <\/a>urged global shipping lines<\/a> to reassess their routes and consider a gradual return to the canal, amid improving security conditions in the region. Danish shipping giant Maersk was reportedly considering resuming transits through the Suez Canal, as it closely monitors security developments in the Red Sea. <\/p>\n

REMEMBER- The route is vital for Egypt\u2019s FX flows:<\/strong> Suez Canal transit receipts \u2014 a major source of foreign currency for Egypt \u2014 dropped 62.3% y-o-y to USD 1.8 bn in FY 2024-25 on the back of Houthi attacks on Red Sea shipping vessels, which have disrupted the passage and pushed ships to reroute away from the canal. Net tonnage fell 69.2% and vessel transits were down 52.2%.<\/p>\n

<\/a> <\/strong> #2- <\/strong>Oman <\/strong>is accepting bids for Musandam Airport<\/strong>:<\/strong> Oman\u2019s Civil Aviation Authority accepted pre-qualification bids from around 20 undisclosed local and international companies for a tender to design and construct the Musandam Airport in Wilayat Khasab, Oman Observer<\/a> reports. The airport \u2014 scheduled for delivery in 2028 \u2014 will cost an estimated USD 200 mn<\/a> . The final design for the new airport is complete, the news outlet says. <\/p>\n

What\u2019s in the cards?<\/strong> The project will be split into phases, with the first phase set to feature a 45m-wide runway and a passenger hall capable of hosting 250k passengers annually. It will also include an air traffic control tower, a 2.5 km-long runway, taxiways, repair shops, and an aircraft hangar. The second phase is set to expand the new runway to 3.3 km, as well as the number of taxiways, air carrier hangars, and the terminal building.<\/p>\n

<\/a> <\/strong> #3- <\/strong>Houthis <\/strong>launch another strike on Israeli airport: <\/strong>Yemen\u2019s Houthi group targeted Tel Aviv\u2019s Ben Gurion International Airport with two missiles on Tuesday, bringing the airport\u2019s operations to a temporary halt, according to a statement<\/a> by Houthi spokesperson Yahya Saree. The move comes after the group announced a sea blockade on Sunday that will target any ships owned by firms<\/a> conducting maritime activity with Israeli ports. The Houthis also attacked the airport last week<\/a>, hours after an Israeli army spokesperson said in a post on X<\/a> that a missile from Yemen was intercepted while en route to Israel.<\/p>\n

MARKET WATCH- <\/p>\n

#1- Oil prices held firm in early morning trading amid Trump\u2019s push for tariffs to <\/strong>end <\/strong>Ukraine<\/strong> war and increasing US stock prices offset supply concerns<\/strong>, Reuters<\/a> reports. Brent crude futures was down USD 0.10 or 0.1% to reach USD 73.14 \/ bbl by 03.45 GMT, while US West Texas Intermediate (WTI) futures dipped USD 0.05 or 0.1% to trade at USD 69.95 \/ bbl.<\/p>\n

#2- Baltic index dips even further: <\/strong>The Baltic Exchange\u2019s dry bulk sea freight index \u2014 which tracks rates for the capesize, panamax, and supramax vessel segments \u2014 decreased 5.4%<\/a> at 1,995 points on Wednesday, its lowest point since 16 July. The capesize dropped 8.3% to 3,186 points, while the panamax index dipped 3% to 1,689 points. The smaller supramax index fell 0.8% to 1,271 points. <\/p>\n

DATA POINT- <\/p>\n

#1- The UAE\u2019s non-oil foreign trade rose 24% y-o-y in the 1H 2025<\/strong>, reaching nearly AED 1.73 tn (USD 470.3 bn) during the period, driven by an unprecedented boom in non-oil exports, according to an X post<\/a> from Dubai Ruler and Prime Minister Mohammed bin Rashid Al Maktoum.<\/p>\n

Top trade partners:<\/strong> Trade with Switzerland surged by an impressive 120% y-o-y, followed by Turkey (41%), India (33%), the US (29%), and Saudi Arabia (21.3%). <\/p>\n

#2- <\/strong>Morocco\u2019s imports rose 9% y-o-y to MAD 398 bn (USD 44 bn) in 1H 202<\/strong>5<\/strong>, while its exports went up 3% y-o-y to MAD 236 bn (USD 26 bn), Reuters<\/a> reports, citing Morocco\u2019s Foreign Exchange Office. <\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

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

***<\/strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/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

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

Were you forwarded this email? <\/strong>Tap or click here<\/a> to get your own copy of Enterprise Logistics.<\/p>\n

Want to send us a story idea<\/strong>, request coverage, ask for a correction, or otherwise get in touch? Reach out to us on logistics@enterprisemea.com<\/a>.<\/p>\n

DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, Saudi Arabia<\/a>, and the UAE<\/a><\/a> ***<\/strong><\/p>\n

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

The UAE will host the <\/strong>Africa Procurement & Supply Chain Leaders\u2019 Conference<\/a><\/strong> on Monday, 25 August until Friday, 29 August<\/strong> in Dubai. The conference will host global industry leaders, policymakers and stakeholders to discuss how AI is changing procurement and supply chain efficiency, sustainability and risk management. <\/p>\n

Oman will host <\/strong>Transport Middle East<\/a><\/strong> on Monday, 1 September until Wednesday, 3 September <\/strong>in Salalah. The conference will host 35 international speakers and over 50 exhibitors from the maritime sector to discuss global transportation and logistics. <\/p>\n

Saudi Arabia will host the <\/strong>Sustainable Maritime Industry Conference<\/a><\/strong> on Wednesday, 3 <\/strong>and Thursday, 4 September <\/strong>in Jeddah. The event is set to gather over 60 speakers and more than 3k participants to discuss maritime decarbonization, digital transformation, regulatory frameworks, capacity building, and sustainable practices.<\/p>\n

Algeria will host the <\/strong>Intra-African Trade Fair<\/a><\/strong> on Thursday, 4 September until Wednesday, 10 September<\/strong> in Algiers. The fair will host over 75 countries and 2k exhibitors across several sectors to explore investment prospects and exchange information on trade between B2B and B2G.<\/p>\n

Oman will host the <\/strong>Comex Global Technology Show<\/a><\/strong> on Sunday, 7 September and run till Wednesday, 10 September<\/strong> in Muscat. The event will host over 360 participants and 133 tech startups to show achievements in eGovernment, fintech, smart cities, health tech, agritech and cybersecurity. <\/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":87927,"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":[145,49,142,123,194,32,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-egypt","tag-oman","tag-shipping-maritime","tag-suez-canal-authority","tag-trade","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"0c453e3a-eb98-4eb2-9bac-e25e8ca3534f","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/7\/2602.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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