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Middle East

Virgin Hyperloop One, Bin Sulayem replaces Branson
DP World files lawsuit against China Merchants
China’s foreign trade jumps 16%

China’s foreign trade jumps 16%

Beijing - China’s foreign trade jumped year-on-year to €3.4 trillion in the first 10 months of 2018. Imports surged 20.3 percent while exports grew by 12.6 percent

UAE’s Gulftainer to operate U.S. port of Wilmington
“Abu Dhabi to develop great LNG export by 2024”

“Abu Dhabi to develop great LNG export by 2024”

Abu Dhabi - The capital of the United Arab Emirates Abu Dhabi could develop significant liquefied natural gas’ (LNG) export capacity by 2024, writes the English speaking UAE’s journal The National, quoting an analysis by Wood Mackenzie

As U.S. starts oil sanctions against Iran, major buyers get waivers
Iranian marchers chant “Death to America” on eve of U.S. oil sanctions
China’s Expo attracts 1,000 firms from Belt and Road countries
U.S. says SWIFT could be sanctioned if it deals with sanctioned entities
Iranian crude exports fall further as Trump’s sanctions loom
“Middle East ports must explore innovative approaches”

“Middle East ports must explore innovative approaches”

Dubai - According to a new report by The Boston Consulting Group (BCG), entitled “Will Middle Eastern Ports Continue to Succeed?”, ports across the region have enjoyed success by building high-quality infrastructure to serve the large cargo volumes flowing through the region

Abu Dhabi’s NMDC wins Khalifa Port expansion contract
India to keep buying Iranian oil despite U.S. sanctions

India to keep buying Iranian oil despite U.S. sanctions

New Delhi - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating that the world’s third-biggest oil importer is to continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4.

Iran, Iraq resume shipping line

Iran, Iraq resume shipping line

Baghdad - Iraqi Ministry of Transport in a statement announced that after a three-year pause, the passenger shipping line has been resumed between Iran and Iraq through Shatt al-Arab-Arvand, IRNA reported

India allows state refiners to use Iran tankers, insurance for oil imports
Cruises, the Med is back on top once again / ANALYSIS
Turkey calls for a new chapter in relations with Greece
China close to a deal with Iraq for more crude

China close to a deal with Iraq for more crude

Beijing/Dubai - Iraq’s state oil marketer SOMO is close to a deal with China’s state-run Zhenhua Oil to boost the OPEC member’s crude oil sales to the world’s top oil importer, four sources with knowledge of the matter said. Iraq is the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC)

Iran says Qatar wants more ships to travel to ports

Iran says Qatar wants more ships to travel to ports

Tehran - Hadi Haqshenas, the managing director of the Ports and Maritime Organization of Iran,was quoted by the domestic media in Tehran as saying that Qatar had demanded to make the required changes so that more ships would travel between its Hamad Port and Iran’s Bushehr Port.

British Airways, Air France halting flights to Iran from next month
Iraq to ask U.S. for exemptions on some Iran sanctions
Erdogan invokes patriotism, Islam as lira remains under pressure
Iran tells EU to speed up efforts to save nuclear deal
Israel seeks re-tender of mining rights into Dead Sea / GALLERY
Erdogan tells Turks to buy free-falling lira as Trump doubles metals tariffs
UAE’s Stanford Marine creditors in talks about sale of business

UAE’s Stanford Marine creditors in talks about sale of business

DUBAI/ABU DHABI - Creditors of Stanford Marine Group (SMG), which has links to troubled private equity firm Abraaj, are in talks with three potential buyers, sources familiar with the matter say. Banks are overseeing control of Dubai-based SMG after it failed to meet the terms of its debt obligations

“Trump wrong to expect Saudis to cover loss of Iran oil supply”
Fincantieri: new defence logistics division / GALLERY
DPW to build and operate logistics hub in Mali
Fincantieri Marinette Marine gets Saudi contract via US consortium

Fincantieri Marinette Marine gets Saudi contract via US consortium

Genoa - The U.S. government has awarded the Lockheed Martin-led consortium, which includes Fincantieri, an Undefinitized Contract Action award, as an initial commission ahead of a Foreign Military Sales contract, for the construction of 4 Multi-Mission Surface Combatants for the Kingdom of Saudi Arabia

Iran eyes oil for goods barter plan to fight sanctions
Qatar’s food giant invests $500 mln in Sudan

Qatar’s food giant invests $500 mln in Sudan

Doha - Qatar’s Hassad Food has announced its plan to invest 500 million U.S. dollarsin the agricultural and food sector in Sudan over the next three years. The announcement came after Hassad, the wholly owned subsidiary of Qatar Investment Authority, signed a mutual agreement with a Sudanese company

CRCC tests Saudi rail project

CRCC tests Saudi rail project

Riad - China Railway Construction Corp (CRCC) started on Wednesday the testing of the Mecca Light Rail in Saudi Arabia, in preparation for Hajj pilgrimage in August when millions of pilgrims will head to the holiest city in Islam

Jordan to receive USD100 mln from Germany
OPEC meets Russia and allies to agree oil output boost
China launches new Iran train route
Russia says it is possible to discuss Iran deal’s future without U.S.
Iraq, BP sign Kirkuk oilfield development contract
Russia to electrify Iran Northern Railroad project
Air France to scale down its Iran business
Abu Dhabi’s Mubadala and MIP to sell 50 percent stake in Abu Dhabi Terminals
Emirates’ DP World handles 17.6 million TEUs in first quarter 2018
Oil, gold to gain on Syrian strikes

Oil, gold to gain on Syrian strikes

London - Gold and oil will extend their gains on Monday, albeit modestly, when the markets open for the first time since Western powers launched a missile attack on Syria but equities and bonds are unlikely to suffer big losses unless the West strikes again or Russia retaliates

Iran’s supreme leader says Western attack on Syria a crime
New Saudi-Spanish shipbuilding contract
OMV in $1.5bn deal to buy 20pc Abu Dhabi oilfield stake
Turkey condemns U.S. sentence sought for banker
Bahrain’s $119m waterfront project on fast track
USA to sell $1 billion arms to Saudi Arabia
Azerbaijan Republic to invest $60mn in Astara freight station project