Saudi Arabia Railways (SAR) signed a contract with Stadler, a Swiss rail infrastructure and train manufacturer, for the supply and maintenance of ten next-generation passenger trains for SAR’s East railway network, alongside the option for SAR to order an additional ten units in the future. As per the contract signed by SAR CEO Bashar AlMalik and Stadler President Peter Spuhler, the trains will meet the latest European and international standards while also being designed for the specific climate of Saudi Arabia to provide a comfortable and safe travel experience. Each train will be able to carry around 340 passengers, with…
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Ghitha Holding PJSC, a subsidiary of Abu Dhabi-based conglomerate International Holding Company, announced a significant milestone in its growth strategy by expanding within the logistics and aviation sector. Through its wholly-owned indirect subsidiary, Ghitha Aeroinvest Holding RSC LTD, the company entered into a Share Purchase Agreement (SPA) dated as of February 1, 2024, to acquire a 44% stake in MNG Havayollari ve Tasimacilik A.S. (MNG Airlines), a leading commercial cargo company headquartered in Turkey. The acquisition, valued at USD 211.20 million, marks a significant stride towards diversifying Ghitha Holding’s robust portfolio, not only amplifying its logistical and distribution capabilities but…
Aramco, one of the world’s leading integrated energy and chemicals companies, and DHL Supply Chain (DHL), global leader in contract logistics, have formed a joint venture company, ASMO (Advanced Supply Management Operations); a new procurement and logistics services hub in Saudi Arabia. Mr. Salem Al Huraish, Chairman of ASMO, commented: “We have formed ASMO, with the vision to establish sustainable solutions for the modern supply chain challenges we all face. In forming this strategically powerful alliance, which harnesses Aramco’s energy ecosystem and DHL’s logistics expertise, we are intent on creating value by driving efficiencies and enhancing the reliability of supplies,…
The United Arab Emirates, Saudi Arabia and Qatar continue to rank among the world’s top 10 emerging markets, improving or holding steady in key areas while neighboring Oman, Bahrain and Kuwait lose ground in the 15th annual Agility Emerging Markets Logistics Index. UAE, No. 3 in the 50-country Index after China and India, held its rank from 2023, as did No. 6 Saudi Arabia and No. 7 Qatar. Oman (15), Bahrain (16) and Kuwait (21) all fell in the rankings. In Agility’s survey of 830 logistics industry executives, respondents say Saudi Arabia and UAE are doing the most among GCC countries to…
Azizi Developments, a leading private developer in the UAE, has appointed Mr. Saurabh Bakshi, a renowned leader in the hospitality industry, as Chief Operating Officer of Azizi Hospitality. Azizi plans to invest up to AED 60 billion over the next five years, adding close to 20,000 new keys to Dubai’s hotel stock through the launch of 50 upmarket luxury hotels and resorts and an ultra-luxury, seven-star hotel in Dubai, operated by Azizi Hospitality. Mr. Saurabh Bakshi, a seasoned hotelier with a distinguished career, brings with him over 23 years of management experience in the hospitality industry. From his early days at…
The Alat Board of Directors, Chaired by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and Chairman of the Board of Directors of the Public Investment Fund (PIF), announces Amit Midha as its global CEO. He is a global business leader who has built and transformed businesses in leadership roles across the globe including China, the US, India, and Singapore and who joins from Dell Technologies where he was responsible for Dell’s growth in Asia Pacific and Japan, overseeing a multi-billion-dollar business spanning more than 40 countries. Alat will enhance the capabilities…
JLG Industries, Inc., an Oshkosh Corporation company and a leading global manufacturer of mobile elevating work platforms and telehandlers, has announced the European launch of ClearSky Smart Fleet – the industry’s first platform for two-way fleet management and machine interactivity. Built as a robust, constantly evolving IoT platform, it can deliver unique functionalities, deeper insights, and new ways to run more cost-effective operations. The next-generation platform, available as standard on most new equipment, transforms basic one-way telematics into a two way solution that allows the machine and user to communicate with one another. Telematics reimagined Innovative elements will revolutionise the…
Bas Kooijman, CEO and Asset Manager of DHF Capital S.A., cites that the UAE is establishing itself as one of the world’s prime geographies for real estate diversification; recent data shows that investment in Dubai’s real estate market has reached $100 billion in 2023 and is predicted to grow by 5% in 2024, while the UAE economy is on pace to achieve 4.5% growth. With this economic growth, several industries are set to see an upward trajectory with Dubai’s real estate sector being particularly notable. The real estate sector in Dubai has experienced significant expansion, establishing itself as an attractive…