Middle East – Page 17
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NewsDP World celebrates four-fold profit increase
A stronger operating environment pushed DP World''s first-half profits up four-fold, but second half uncertainty could disrupt the profits party, the group cautioned on Thursday.
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Kuwait mobilises army to defend Mubarak
Kuwait has mobilised military forces on Bobian Island, at the end of the Shatt al-Arab waterway, to protect its Grand Mubarak Port development from possible interference from Iraq.
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Libyan ports still main battleground
Again, it’s the ports that are centre stage in the battles in the troubled hotspots of North Africa, although it is very hard to know exactly what is going on.
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NewsTalks calm Kuwait’s big port row
Talks seem to have staved off difficulties between Iraq and Kuwait over the country’s mega-port construction in the restricted Khour Abdullah waterway, but the situation still has its tensions.
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Kuwait ploughs ahead with Mubarak build
The Iraqi prime minister has indicated that Kuwait is showing "more flexibility" in respect of its proposed Mubarak Port development, despite Iraqi concerns that the port will steal business and restrict shipping.
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Qatar bankrolls two Egyptian ports
The governments of Qatar and Egypt have signed an agreement that will result in the construction of two new ports on the Mediterranean coast at Port Said and Alexandria.
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DP World goes into Suriname
DP World has expanded its portfolio to Suriname on the northeast coast of South America, acquiring a controlling interest in both Integra Port Services (IPS) and Suriname Port Services (SPS).
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Eilat’s hot property
Israel’s Eilat, the first national port to be privatised, has attracted bids from 17 companies. The only known international port operators involved in the process are APM Terminals and SSA Marine, with the vast majority of other interested parties Israeli. The port handles 6% of the country''s foreign trade.
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Qatar commits to Egyptian ports
The government of Qatar has revealed that it has signed an agreement with Egypt to build two new ports that will create one million new jobs.
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NewsDamman concession follows link
Saudi Global Ports (SGP) has gained the concession for a second container terminal at King Abdul Aziz Port, Dammam, in Saudi Arabia.
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NewsBulk volumes up yet again at Salalah
Salalah is seeing a steep rise in bulk volumes, partially on the back of the increased appetite for fuel and steel. The port’s record 764,000 tons of cargo for May was up 31% on the same month last year.
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NewsLibyan ports caught in freeze
The European Union has added six port authorities to the now extensive list of Libyan companies and individuals blacklisted under the UN asset freeze.
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DP World trading on LSE
DP World has started trading on the London Stock Exchange. The company explains that there was no new capital raised as part of the listing as the aim was to provide an additional platform to help attract a broader range of investors. DP World shares will also continue to ...
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NewsControversial Eilat port privatisation snowballs
Despite ongoing discussions with disgruntled unions and opposition from the Ministry of Defence, Israel’s Eilat is to be sold by the state at a cost of $29m.
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NewsDP World share consolidation gets green light
DP World shareholders have approved a 1 for 20 share consolidation to “better reflect the value of the company”.
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Metals and marketing MOU
Abu Dhabi Ports Company has signed a memoriam of understanding with JadeWaserPort Logistics Zone that will boost co-operation in the aluminium, engineered metals, steel, chemical, petrochemical and pharmaceutical industries, as well as related education, marketing and distribution activities.
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NewsLibyan government claims victory over Misurata
Libya’s heavily contested port of Misurata has fallen to regime of Colonel Muammar Gaddafi, according to unconfirmed reports from the country’s Foreign Ministry.
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Investment grows for Middle East Gulf ports
Nearly all of the 35 ports in the Middle East Gulf region are currently undergoing expansion, with $46.5bn already committed. This follows $38.2bn invested up to 2008 and $38.5bn alone in 2009.
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Israel starts Eilat privatisation process
Israel''s Government Companies Authority has begun the process to privatise the port of Eilat. Bids can be made up until May 19 for a 100% stake in Eilat Port Company Limited.
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DP World proposes share consolidation
DP World is to pitch a one for 20 share consolidation to shareholders at its annual meeting on 11 May.
