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Two decades later
DP World is in exclusive talks to return to US container ports after a 20-year absence, with the Dubai-based ports giant set to design, build, and operate a new terminal at the Port of Corpus Christi in Texas, Bloomberg reports.
The 20-year backstory: DP World was forced out of US ports in 2006 over lawmaker security concerns. It has since kept logistics operations in Pennsylvania and North Carolina, with Vancouver as its main North American cargo gateway via rail to Chicago and inland markets — but no container terminals on US soil.
Corpus Christi gives DP World a Gulf Coast container play as nearshoring reshapes US trade flows. The Texas port handles more overall tonnage than most US peers, though mainly on energy, chemicals, and bulk cargo rather than containers. DP World says the new terminal would help it capture rising container demand as manufacturers diversify supply chains away from Asia — a trend that has made Gulf Coast capacity a strategic priority.
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IMF praises Jordan economic reform: Jordan is set to receive USD 187 mn in funding from the IMF, after it cleared the multilateral lenders’ reviews for two ongoing financing programs with flying colors. The approval gives Jordan access to some USD 134 mn as the sixth tranche of the four-year USD 1.3 bn Extended Fund Facility focused on fiscal reform and supporting private sector growth. The remaining USD 54 mn will come as a third tranche of the 30-month USD 700 mn Resilience and Sustainability Facility (RSF) focused on supporting the water, electricity, and public health sectors.
The Jordanian economy remained resilient despite regional headwinds, but external support is still paramount, the IMF said. “Fiscal discipline” got a special nod from the multilateral lender, which also stressed the need for sustained donor support to “support Jordan’s development objectives, while shouldering the cost of hosting a large number of refugees.” The IMF expects Jordan’s GDP to grow at 2.7% this year and 3.1% in 2027.
Another step for Riyadh Air
Riyadh Air just cleared US airspace: The US Transportation Department granted the PIF-owned carrier the right to run scheduled and charter service between the Kingdom and the US. It’s another box ticked for an airline that flew its first commercial London Heathrow flight only last week.
