Author: Jochebed Menon

Aramex has entered into a binding agreement to fully purchase Access USA Shipping LLC (MyUS), a global technology-driven platform that enables cross-border eCommerce, for a cash price of USD265 million. MyUS is a US-headquartered, technology-driven, and cross-border eCommerce platform, providing cost-effective package forwarding solutions to customers who shop from retailers based in the US, UK, and China. MyUS has cutting-edge proprietary software and scalable technology, industry-leading expertise gained over its 24 years of operations and a customer-centric business model that innovatively addresses the needs of shoppers worldwide. The acquisition is in line with Aramex’s strategy to expand its cross-border operations…

TECOM Group announced the launch of D/Quarters, a state-of-the-art co-working space that embraces the evolving business landscape, with new facilities adaptive to future-focused businesses whether they are freelancers or large corporations. It is also geared towards fostering innovation, instilling an entrepreneurial culture, and advancing Dubai’s vision to build a dynamic and sustainable economy. Home to more than 7,800 companies and over 100,000 professionals, from leading corporations to entrepreneurs and freelancers, the Group has been a major catalyst for Dubai’s development into a knowledge-economy and enabler of government’s Innovation Strategy. D/Quarters is the latest in the Group’s expansive portfolio of innovative…

SOHAR Port and Freezone has signed an agreement with China’s United Projects Achievement for the lease of 25,000 sqm of land at the freezone on which a new cloud data centre is to be constructed. The data centre will include a multi-functional server room combined with artificial intelligence, big data, and cloud computing. Anticipated to be in operation towards the end of 2022, Cloud Data Centre will be the first information technology investment project at SOHAR Freezone. “This agreement represents a major milestone for us in line with our plans to make SOHAR Freezone a frontrunner in innovation and a…

Fundamental change in the air cargo booking process accelerated by COVID is here to stay due to the uptake of digitisation Awery’s Chief Executive Officer (CEO), Vitaly Smilianets told delegates at the CNS Partnership Conference 2022 in Phoenix, Arizona, US. “A side effect of the COVID pandemic was a fundamental shift away from long term contracted rates over to spot booking as capacity shrunk and demand increased,” said Smilianets. “At the same time, the uptake of digitisation by airlines introduced huge efficiencies making pricing quicker and more responsive. “Because of this, we anticipate that even as air cargo capacity increases,…

Savoye, a warehouse automation integrator and software publisher in the Middle East, has recorded a turnover of Dhs796 million in 2021, with Dhs833 million orders and a 26% growth compared to the previous year. The logistics solution provider, which entered the Middle East market at a time when businesses were adversely affected due to the global pandemic, has successfully established its base, and its presence in the region. Alain Kaddoum, Managing Director, Savoye Middle East said: “Our hard work and continued efforts during the last year have paid off as we received good results not only in revenue generation globally,…

Al Seer Marine, a player across multiple marine sectors and a subsidiary of International Holding Company (IHC), has acquired two vessels, valued at a combined Dhs246 million, to meet rapidly growing demand for transportation of liquified petroleum gas (LPG). Al Seer Marine, which is pursuing an expansion strategy to become a major world leader in commercial shipping, has targeted the acquisition of up to 15 ships in 2022. Growing demand for charters in the product tanker and gas segments has been compounded by recent global geopolitical developments. In its latest transaction, Al Seer Marine has purchased LPG tankers, MT Alcor…

cCommerce platform Zbooni and Meydan Freezone have agreed a strategic partnership to propel the growth of digital commerce businesses in Dubai. The deal will empower entrepreneurs setting up in Meydan FZ with the tools needed to thrive in today’s increasingly digital business environment. In line with Meydan FZ’s objective of providing a holistic hub for new businesses, Zbooni will play a critical role in its fast-developing ecosystem of partners. The Dubai-headquartered start-up will also conduct exclusive workshops and training for Meydan Freezone companies. On behalf of Meydan Freezone, Omar Khoory, Chief Assets Officer of Nakheel said, “Dubai is a world-class…

Daimler Commercial Vehicles MENA announced the launch and availability of the benchmark setting Mercedes-Benz Econic trucks across the Middle East and North Africa. First introduced in 1998, the Econic has enjoyed significant success in multiple European markets for over two decades due to its safety, efficiency, ergonomics, and reduced impact on the environment. The Econic is the proven choice for airport ground services, municipality, and waste management applications. The Econic is a versatile low-entry truck designed in response to growing urban areas and the increased demands placed on mobility, logistics, the environment, and quality of life. The trucks are efficient,…

ACWA Power, OQ, Oman’s leading integrated energy group, and Air Products signed a joint development agreement (JDA) toward a multibillion-dollar investment in a world-scale green hydrogen-based ammonia production facility powered by renewable energy in Oman. The JDA signing follows a memorandum of understanding signed in December 2021. Envisioned for Oman’s Salalah Free Zone, the joint venture project would be based on proven, world-class technology and include: the innovative integration of renewable power from solar, wind and storage; production of hydrogen by electrolysis; production of nitrogen by air separation; and production of green ammonia. It is anticipated that the green hydrogen-based…

Standard Chartered and Dubai-based carrier, flydubai, have successfully signed a sale and leaseback (SLB) agreement for five new Boeing 737 MAX aircraft. Four aircraft were delivered between March and May 2022 with the remaining aircraft scheduled to arrive from Boeing, before the end of the first half of the year. The deal was structured, financed, and arranged exclusively by Standard Chartered. The transaction will support the future growth of the airline’s fleet and highlights the strong and long-standing relationship between flydubai and Standard Chartered. Commenting on the transaction, Ghaith Al Ghaith, Chief Executive Officer of flydubai, said: “We are pleased…