Author: Jochebed Menon

Trade between the UAE and Bahrain has seen a significant rebound since the pandemic with non-oil bilateral trade between the countries increasing by 75% year-on-year in the second quarter of 2021. UAE-Bahrain trade reached USD672 million in the second quarter of this year, accounting for around 40% of Bahrain’s GCC trade, according to the latest figures released by Bahrain’s eGovernment and Information Authority. Only Saudi Arabia traded more with Bahrain, with the total value of exports and imports between the two kingdoms reaching USD781 million during the quarter. Trade between Oman and Bahrain stood at USD141 million. Oman was followed…

Transport temperature control solutions provider and a brand of Trane Technologies Thermo King launched V-1000, its new single and multi-temperature vehicle-powered units designed for larger rigid trucks between 3.5 to 25 tonnes. The new V-1000 is almost 25% more powerful and delivers 33% higher airflow and 67% higher stand-by capacity than the equivalent diesel units, offering large truck operators the benefits of advanced vehicle drive technology – low-cost control, low weight, and compact size. The V-1000 uses a compressor exclusively developed for Thermo King which, when driven by the truck engine, produces performance previously unattainable in units of this type.…

Maersk is redesigning its ocean network in West & Central Asia that connects countries including India, Bangladesh, Sri Lanka, Pakistan, UAE, and Saudi Arabia to the world. The changes in network are primarily aimed at improving speed to market, providing higher predictability, and offering more flexibility to customers’ supply chains. Further, redesigning the network will also bring more resilience to the customers’ supply chains, protecting them better from operational challenges that arise out of contingencies. “Since the beginning of COVID-19, supply chains have experienced a perfect storm. The unprecedented scale of operational challenges restricting supply during the pandemic and the…

The founding shareholders of Red Sea Gateway Terminal Limited (RSGT) have officially completed their 40% RSGT equity sale to the Public Investment Fund (PIF) and COSCO Shipping Ports Limited (CSPL) (20% each). The transactions imply an enterprise value for RSGT of USD880 million and a total gross inflow of equity value for the founding shareholders USD280 million. The founding shareholders will reduce their combined shareholding to 60%. PIF is the economic engine of Vision 2030, driving the diversification of Saudi Arabia’s economy. The investment in RSGT is in line with PIF’s 2021-2025 strategy that focuses on 13 key priority sectors,…

Dayim Equipment Rental recently ordered 10 ZX-135/70 articulating boom lifts from Genie. Based in Saudi Arabia and a member of Dayim Holdings, Dayim Equipment Rental has been a leading service and equipment rental company in the Middle East since 2010. Wishing to replace some units in its aerial fleet with more recent, efficient equipment with on-board technology to increase operator safety and productivity, it launched a call for tender from several manufacturers. Imtiyaz Abedi, Operations Director, Dayim Equipment Rental, considers Genie one of the main go-to brands for articulating boom lifts. He chose to invest in 10 Genie ZX-135/70 models…

Euro Auctions, a European auctioneer of industrial plant, construction, and agricultural machinery, has expanded its operations in in the UAE and Middle East with the appointment of Milad Akhitar as a new territory manager for the UAE. Milad joins Euro Auctions with a solid sales background having worked in the media for many years in the plant and machinery sector. Working as a key account manager for a plant and equipment magazine, Milad has good connections across the region, with an excellent understanding of the market, with experience in evaluating and assessing machinery and equipment. Having good connections with the…

The European Union (EU) has introduced new rules governing the value-added tax (VAT) applied to cross-border eCommerce sales. These changes, effective July 1, include the removal of the VAT exemption on imported goods into the EU with a value up to EUR22 (around Dhs95). A special scheme for distance sales of low-value goods imported from third countries or territories into the EU has also been introduced. The Import One Stop Shop (IOSS) is an online portal that simplifies the declaration and payment of VAT for eCommerce sales of goods valued up to EUR150 imported into the EU. The IOSS improves…

Proven Consult, a GCC-based automation technology firm, announced the signing of a Memorandum of Understanding (MoU) with United Warehouse Co Ltd (UWC), a warehousing logistics service provider in Saudi Arabia, to help accelerate digital transformation in the logistics industry. Under the terms of agreement signed on 1 July, both companies will collaborate in advancing technological transformation through the deployment of latest technologies. Committed to creating smarter businesses with its team of experts, Proven Consult, in partnership with UWC, will work to create value through implementation of digital technologies. “At Proven Consult, innovation is at the heart of everything we do.…

Integrated facilities management services provider Emrill has expanded the use of technology to enhance service delivery with the launch of its TechCompanion app. The app, which is currently being utilised by over 2,000 technicians, engineers and supervisors across multiple sites and shifts, empowers Emrill’s employees to access and utilise data and information to drive efficiencies across the company’s contracts and support success for its clients’ projects and communities. In 2020, Emrill launched What’s Next Engineering, an initiative led by innovation and implementing new ideas, which the company encourages through its ongoing continuous improvement workshops. Emrill’s TechCompanion app was developed under…

DP World seeks to acquire Johannesburg Stock Exchange-listed Imperial Logistics, an integrated logistics and market access company with operations mainly across the African continent and in Europe. The acquisition will enhance DP World’s capabilities, particularly in Africa, building on its extensive infrastructure of ports, terminals, and economic zones. It will also significantly accelerate DP World’s transformation into an advanced logistics company offering end to end supply chain services to the owners of cargo. DP World’s cash offer of ZAR66 per share implies an equity consideration of around ZAR 12.7bn (around USD890mn). It represents a premium of 39.5% to the Imperial…