North Africa

Airlines suspend flights as Middle East stress increase

Concerns over a wider dispute in the Middle East have actually prompted international airlines to suspend flights to the area or to prevent affected air area. Below are a few of the airline companies that have actually cancelled services to and from the area: AEGEAN AIRLINES The Greek airline has cancelled flights to and from Beirut until March 29 and to and from Tel Aviv until Dec. 9. From Dec. 10, some flights to and from Tel Aviv will run as regular. AIR ALGERIE The Algerian airline company has suspended flights to and from Lebanon until further notice. AIRBALTIC Latvia's
North Africa

Tunisia purchases 100,000 T of soft wheat and 100,000 T of durum, traders report
Tunisia purchases 100,000 T soft wheat, 100,000 T durum, traders say

Tunisia's state grains firm is believed to have acquired about 100,000 metric heaps of soft wheat and about 100,000 tons of durum in an global tender for the exact same volume on Thursday, European traders stated. The soft wheat was thought to have been bought at the lowest cost of $255.39 a ton expense and freight (c&& f) consisted of for 25,000 heaps from trading house Viterra, traders stated. The durum was believed to have actually been bought at the most affordable rate of $339.49 a ton cost and freight (c&& f) included for 25,000 tons, with the most affordable
North Africa

Tunisia gets deals in soft wheat, durum tender, traders say
Algeria thought to have bought durum wheat in tender, traders say

Algeria's state grains company OAIC is thought to have actually acquired durum wheat in an international tender on Wednesday, European traders stated. The volume bought was unclear. Preliminary estimates of the purchase rates were around $340 a. load expense and freight (c&& f) consisted of for larger Panamax shipments. and around $352 a load c&& f for smaller sized Handymax shipments. Part of both purchases was thought to include. Canadian-origin of type Canada western amber durum (CWAD),. traders said. Some was likewise thought to be sourced from the. United States and Australia. The tender had actually sought a small 50,000
Ground Transportation

Morocco to double airport capacity by 2030

Morocco prepares to expand its airport capability to 80 million passengers by 2030 from 38 million presently, Prime Minister Aziz Akhannouch stated. The strategy becomes part of Morocco's preparations to co-host the 2030 soccer World Cup, together with Spain and Portugal, and promote tourist, Akhannouch informed members of parliament. Casablanca's airport capacity will be expanded to 23.3 million guests, while tourist centers Marrakech and Agadir will have a capacity of 14 million travelers and 6.3 million respectively by 2030, he stated. Morocco got a record 15.9 million travelers in the very first 11 months of this year, exceeding the overall
Russian cargo airplane leaves Syria for Libya, more flights anticipated, authorities states

Transport Infrastructure

Major Gulf markets gain in early trade; Saudi falls

Most stock markets in the Gulf rose in early trade on Monday, brushing off geopolitical tensions amid the ongoing war in between significant oil manufacturer Russia and Ukraine, although the Saudi index bucked the pattern to trade lower. Last week, Russia fired a hypersonic rocket at Ukraine in a. warning to the United States and Britain following strikes by. Kyiv on Russia, utilizing U.S. and British weapons. Dubai's main share index advanced 0.7%, led by a 2%. rise in blue-chip designer Emaar Residence and a. 2.2% boost in toll operator Salik. The Abu Dhabi index was up 0.4%. In Qatar,...

Transport Infrastructure

Iraq selects 11 companies for Grand Faw Port operation; decision to be made in January 2025

Iraq has selected 11 shipping companies that will compete for the Grand Faw Port Operation Contract. A decision is expected to be made in January 2025. The shortlisted companies include China Merchants Port Group Co., Taiwanese container shipping line Evergreen, French shipping group CMA CGM, Mediterranean Shipping Company (MSC), India's Adani, Philippines-headquartered International Container Terminal Services (ICTSI), China's Cosco, and United Arab Emirates-based ABM Global Shipping LLC. Farhan al Farousi, Iraq's Minister of Energy, announced that the country will select a company to operate in Iraq in 2026. Daewoo Engineering & Construction of South Korea completed construction of five docks....

Transport Infrastructure

Italian ship heads back to Albania with 8 migrants

An Italian navy ship set sail for Albania on Wednesday carrying a second small group of migrants, with Rome wanting to salvage a questionable strategy to procedure asylum hunters abroad after a very first attempt hit legal difficulties. Prime Minister Giorgia Meloni's government hopes that taking boat migrants to secured camps in Albania instead of letting them enter Italy will act as a deterrence to others considering making the hazardous sea crossing to Europe. Italy sent out an initial group of 16 migrants to Albania last month, but they were all brought back within days, the majority of them after...

Transport Infrastructure

Suez Canal Economic Zone set for fast growth - chairman

Egypt's Suez Canal Economic Zone (SCEZ) has actually invested $3 billion on facilities over the previous couple of years and has plans to invest a comparable quantity over the next few years as it works to draw in financiers, its chairman said in an interview. The zone, a collection of 6 ports and four commercial areas alongside, or near the waterway, has actually been provided special legal and tax benefits to benefit from the vast amount of international shipping passing by. While government-run, it is administratively separate from the canal. Attacks on Red Sea shipping by Yemen's Houthis, who say...

Transport Infrastructure

The majority of Gulf markets gain in early trade, Qatar falls

Many major stock exchange in the Gulf edged greater in early trade on Wednesday as a capacity ceasefire in between Israel and Hezbollah raised financier belief, although the Qatari index bucked the pattern to trade lower. A deal that would stop the fighting in between Israel and Hezbollah might be achieved within a couple of weeks, Israeli and U.S. authorities stated, according to Axios. A senior Hamas authorities said on Tuesday the Palestinian militant group was studying new proposals from arbitrators to end the Gaza war however repeated that these should entail a complete Israeli military withdrawal from the enclave....

Transport Infrastructure

Italy provides very first migrants to Albania under new offer

A ship carrying the very first group of migrants to be processed in Albania under a. deal with Italy got here in the port of Shengjin on Wednesday. morning, setting in movement Rome's questionable strategy to process. countless asylum candidates abroad. Italy has actually developed 2 reception centres in Albania, in the. initially scheme by a European Union nation to divert migrants to a. non-EU nation. The plan intends to deter irregular arrivals to. Italy, but has actually been criticised by rights groups who state it. limits migrants' right to asylum. The Libra, an Italian navy ship, docked at Shengjin,...

Transport Infrastructure

Major Gulf bourses edge greater, Arabian Mills jump on debut

Many stock markets in the Gulf edged greater in early trade on Tuesday, recovering some of their recent losses triggered by worries the area might be on the verge of a wider Middle East war. Battling in the area heightened after Iran-backed Hezbollah fired rockets at Israel's third-largest city, Haifa, and Israel looked poised to broaden its offensive into Lebanon, a. year after the Hamas attack that sparked Israel's continuous war in. Gaza. The decline in Gulf markets started after Iran released a. missile barrage on Israel on Oct. 1. Israel has actually testified. strike back and is weighing its...

Transport Infrastructure

Major Gulf bourses edge greater, Arabian Mills jump on debut

Many Gulf markets fall on geopolitical stress

A lot of significant stock markets in the Gulf fell in early trade on Monday, on worries that increasing geopolitical tensions will result in larger conflict in the area, although the Saudi index bucked the pattern to trade higher. Hezbollah rockets struck Israel's third-largest city Haifa early on Monday as the country looked poised to expand ground incursions into southern Lebanon on the very first anniversary of the Gaza war, which has actually spread conflict across the Middle East. Iran-backed Hezbollah, an ally of Hamas, the Palestinian militant group fighting Israel in Gaza, said it targeted a. military base south...

Houthis alert shipowners in brand-new stage of Red Sea project: Prepare to be assaulted

On a warm spring night in Athens, soon before midnight, a senior executive at a. Greek shipping business noticed an uncommon e-mail had actually landed in. his personal inbox. The message, which was also sent out to the supervisor's company. email address, warned that one of the business's vessels. traveling through the Red Sea was at danger of being assaulted by. Yemen's Iranian-backed Houthi militia. The Greek-managed ship had actually breached a Houthi-imposed transit. ban by docking at an Israeli port and would be straight. targeted by the Yemeni Army in any area they deem. proper, checked out the message,...

Libya's oil exports plunge in Sept, production still primarily shut

Libya's petroleum exports have actually dropped to about 400,000 barrels per day (bpd) this month from August's 1.02 million bpd, port and shipping information reveal, as the OPEC member faces a political crisis that has slashed output. The bulk of Libya's crude exports this month were destined for Italy and Greece, information from oil analytics firm Kpler and port agent information reveal, with some heading to China and Canada. Libya is embroiled in a political stand-off that has shut in much of its oil production. The crisis started last month when western Libyan factions transferred to oust reserve bank governor...

A lot of Gulf markets gain in line with oil, Asian shares

Most significant stock exchange in the Gulf rose in early trade on Tuesday in line with oil costs and Asian shares buoyed by broad stimulus procedures from China, although geopolitical stress in the area minimal gains. Oil prices - a driver for the Gulf's monetary markets - increased on news of financial stimulus from top importer China and concerns that tensions in the Middle East might strike regional supply, while a major typhoon loomed over the United States, the world's biggest crude producer. China's central bank revealed its biggest stimulus since the pandemic to pull the economy out of its...

Libyan crude exports rose dramatically recently, shipping data show

Libyan crude exports reached about 550,000 barrels each day recently, a threefold increase on the previous week, according to information from analytics firm Kpler and a shipping representative. Tankers bring unrefined including Flavin, Pacific Pearl, Ghibli, and Delta Atlantica set sail to European destinations from numerous Libyan ports in the week beginning Sept. 9, the information show. This comes as the OPEC manufacturer remains in the throes of a. political stand-off that has actually hampered its oil production. The standoff started last month when western Libyan. factions transferred to oust central bank governor Sadiq al-Kabir,. prompting eastern factions to declare...

Passenger Transportation Services

Airlines suspend flights as Middle East stress rise

Concerns over a wider dispute in the Middle East have actually triggered global airlines to suspend flights to the region or to avoid affected air space. Below are a few of the airlines that have cancelled services to and from the area: AEGEAN AIRLINES The Greek airline company has actually cancelled flights to and from Beirut till March 29 and to and from Tel Aviv up until Jan. 15. AIR ALGERIE The Algerian airline company has actually suspended flights to and from Lebanon up until further notice. AIRBALTIC Latvia's airBaltic has actually cancelled flights to and from Tel . Aviv...