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Monthly Archives: September 2016

NIMASA to utilise data for effective maritime regulation- Peterside

.Peterside rounds-off facility tour of NIMASA operation offices in Eastern Zone (TRADE NEWSWIRE): The maritime industry has been described as a data driven one which requires access to adequate information for its effective regulation and the implementation of relevant instruments, TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE on Friday in Lagos from a World-renowned First-rate Public ...

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Nigeria: Ministry of transportation holds forum on infrastructure development, maintenance

(TRADE NEWSWIRE): The Federal Ministry of Transportation in collaboration with the Union of African Shippers’ Council (UASC) would on October 6th and 7th, 2016 organize a two-day sub-regional interactive forum on infrastructure development and maintenance, TRADE NEWSWIRE reports. According to a statement obtained by TRADE NEWSWIRE from the management of the Nigerian Shippers Council on Friday in Lagos, the Forum ...

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Germany’s Commerzbank cuts nearly 10,000 jobs

  Germany’s Commerzbank will cut more than a fifth of its workforce and suspend its dividend as it tackles the challenges of low interest rates, weak profits and the shift to online banking. Germany’s second biggest lender said on Thursday it plans to cut 9,600 of its 45,000 full-time positions, a more drastic move than the 10 per cent staff ...

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Japan signals end for $10 billion nuclear prototype

  Japan signalled on Wednesday it would scrap a costly prototype nuclear reactor that has operated for less than a year in more than two decades at a cost of 1 trillion yen ($9.84 billion). Tokyo believes it would be difficult to gain public support to spend several hundreds of billion yen to upgrade the Monju facility, which has been ...

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Dubai brokers ‘need government approval for property ads’

  The property brokers in Dubai, UAE, will need to get approval from the Real Estate Regulatory Agency (Rera) before issuing advertisements and social media campaigns under new rules, said a report. Currently, only registered brokers are allowed to advertise properties in Dubai, but the new rules add in an extra step whereby advertisements require approval, reported The National. A ...

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London to launch inquiry into foreign property ownership

  London’s mayor Sadiq Khan will launch an inquiry into foreign ownership of property in the British capital which has helped push up housing costs, the Guardian newspaper cited him as saying on Thursday. “It’s clear we need to better understand the different roles that overseas money plays in London’s housing market, the scale of what’s going on, and what ...

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Newcastle, Australia, to get Multi-User Cruise Terminal

Australia’s NSW Government as announced plans for a multi-user cruise terminal in Newcastle to support cruise tourism in the Hunter region. The A$12.7 million multi-purpose terminal will be 3,000 square meters and similar in scale to Sydney’s White Bay Terminal. It will replace a temporary marquee. The terminal will be built at the Channel Berth within the Port’s Carrington Precinct ...

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Norwegian Cruise Line Celebrates Fifty Years

Norwegian Cruise Line is celebrating 50 years of operation this year. On December 19, 1966, the M/S Sunward made her first voyage from Miami to the Caribbean signifying the birth of Norwegian Caribbean Lines. Now, as Norwegian Cruise Line, the group is a global cruise brand with 14 purpose-built ships sailing to more than 300 destinations worldwide. The cruise line ...

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Intoxication Led to Overboard Fatality

The Transportation Safety Board of Canada (TSB) determined that a passenger’s unsafe behavior and intoxication led to him falling overboard and drowning from the vessel Northern Spirit I in Toronto, Canada, in 2015. The investigation also found that the crew’s emergency response efforts were not coordinated.On June 13, 2015, the Northern Spirit I was on an evening cruise when security ...

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Record Cruise Season for New Zealand

New Zealand will welcome a record number of cruise ships to its shores this summer, including an unprecedented nine ships making their inaugural calls to the country. Among the visitors will be the largest ship to sail to New Zealand – Royal Caribbean’s 167,000 ton Ovation of the Seas, and the boutique Seabourn Encore, which will arrive in New Zealand ...

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Protesters Say “No Big Ships” in Venice

    Protesters took to small boats in Venice last Sunday evening (September 25) to demonstrate against huge cruise ships being allowed to pass through the Italian city’s canals.Sounding horns and lighting colored flares, the protesters waved banners which read “No Big Ships” as a Thomson Celebration cruise ship sailed down the central Giudecca canal to the international cruise ship ...

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500 Stranded on Indian Passenger Freighter

Over 500 passengers on the Indian passenger / general cargo vessel Harshavardhan were stranded at sea for days after the vessel ran into mechanical difficulty. The casualty occurred six hours after the Harshavardhan departed Visakhapatnam Port on a regularly scheduled trip to Port Blair, in the Andaman and Nicobar Islands. Passengers suffered from seasickness in foul weather and high seas ...

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[Updated] Three Chinese Fishermen Killed by South Korea

  Three Chinese fishermen were killed on Thursday in a fire that broke out on their boat when South Korean coastguard men trying to apprehend them for illegal fishing threw flash grenades into a room they were hiding in, a South Korean official said. Disputes over illegal fishing are an irritant in relations between China and U.S. ally South Korea, ...

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Turkey to cut gas prices by 10pc from Oct 1

  Turkey will reduce the price of natural gas by 10 percent for domestic consumers and industrials from October 1, Energy Minister Berat Albayarak said on Thursday. Speaking in an interview with state-run broadcaster TRT Haber, Albayrak also said the government did not foresee a price hike in electricity. The government will examine whether positive steps on TurkStream gas export ...

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Airlines report 17pc rise in unruly passengers

  Reports of unruly passengers disrupting airline flights have soared almost 17 per cent worldwide in 2015, with incidents such as passengers being verbally abusive or refusing to obey cabin crew occurring on one out of every 1,205 flights, the international trade association for airlines said on Wednesday. Some 10,854 plane rage incidents were reported to the International Air Transport ...

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Ageist attitudes ‘affect older people’s health’

  New analysis by the World Health Organization (WHO) shows that negative or ageist attitudes towards older people are widespread. They also negatively affect older people’s physical and mental health. Fully 60 per cent of respondents in the WHO World Values Survey reported that older people are not respected. More than 83,000 people in 57 countries took part in the ...

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Boeing nears major wide-body jet sale deal with Qatar Airways

  Boeing Co is close to clinching a large sale of widebody jetliners to Qatar Airways, a deal that moved closer with the recent US approval of Boeing fighter jet sales to the Gulf nation, according to two people familiar with the situation. Qatar Airways is in the process of firming up the order, which it was due to have ...

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International tourist arrivals up 4pc in H1

International tourist arrivals worldwide grew by 4 per cent between January and June 2016 compared to the same period last year. Destinations worldwide received 561 million international tourists (overnight visitors), 21 million more than in 2015, according to the latest UNWTO World Tourism Barometer. Asia and the Pacific demonstrated renewed strength this first half of 2016, receiving 9 per cent ...

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NIMASA Reforms: DG assures stakeholders of better services

(TRADE NEWSWIRE): The Nigerian Maritime Administration and Safety Agency (NIMASA) has assured stakeholders in Eastern Zonal Operations that the era of being tossed between the Zonal Office and the Head Office is over as the Agency has concluded plans to restructure its operations for optimal performance, TRADE NEWSWIRE reports. The new structure is expected to grant the Zonal Offices greater ...

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Cabotage Implementation will grow Nigerian economy- Peterside

  (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside, has given the assurance that the Agency will provide platforms for the enforcement of its mandate especially the Cabotage Act, TRADE NEWSWIRE reports. In a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia ...

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Drone hits Dubai airport ops again

  Airspace around the Dubai International Airport was closed for about half an hour this morning due to unauthorised drone activity resulting in a number of delays at the airport, a Dubai Airports statement said. The airspace was closed from 08.08 am to 08.35 am, it said. “Arrival operations resumed at 0835 hrs and departures at 0840 hrs with some ...

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Saudi King cuts minister’s salaries by 20%, reduces Shura Council’s bonuses by 15%

  Saudi monarch, King Salman bin Abdulaziz Al Saud’s decision to slash ministerial pay by a fifth reflects the kingdom’s resolve to nudge its citizens into tolerating a fall in living standards at a time of low oil prices, said experts. King Salman had on Monday issued a royal order cutting ministers’ salaries by 20 per cent and reducing bonuses ...

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Uber targets freight, trucking businesses

  With its recent acquisition of self-driving truck startup Otto, Uber Technologies is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry. Otto plans to expand its fleet of trucks from six to about 15 and is forging partnerships with independent truckers, Otto co-founder Lior Ron ...

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China’s Cosco wins Abu Dhabi container terminal deal

Abu Dhabi Ports has awarded China’s Cosco Shipping a 35-year concession to build and operate a new container terminal at Khalifa Port, the chief executive of the Abu Dhabi company told Reuters on Wednesday. The terminal is expected to be operational in the first quarter of 2018, Mohamed Juma Al-Shamisi said. It will have a capacity of 2.4 million twenty ...

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The Olu of Warri Expresses Confidence in Peterside

…Calls on NIMASA to Resuscitate Warri port (TRADE NEWSWIRE): The Olu of Warri, Ogiame Ikenwoli Emiko, has appealed to the Nigerian Maritime Administration and Safety Agency, (NIMASA) to facilitate the effective utilisation of the Warri Port and the Koko Port with a view to reviving the economic activities in these areas, TRADE NEWSWIRE reports. In a statement obtained by TRADE ...

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NIMASA DG canvasses preparedness against oil spill

    (TRADE NEWSWIRE): The Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has described preparedness and core training as the panacea for handling oil spills in the maritime environment. According to a statement obtained by TRADE NEWSWIRE from a  World-renowned First-rate Public Relations Professional and Head, Corporate Communications, NIMASA, Hajia Lami Tumaka, the Director-General ...

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Peterside’s on-site assessment of NIMASA Zonal offices ignites restructuring, facility upgradement

  .Orders structural integrity test on Western Zonal office building at Marine lane in Apapa with immediate effect .NIMASA to restructure personnel operations .Zonal offices to now handle operation works at NIMASA .NIMASA Headquarters to handle policy, administrative issues .Zonal offices heartbeat of NIMASA, just as the agency is to Nigerian maritime industry- Peterside (TRADE NEWSWIRE): The on-site assessment of ...

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Amaechi inaugurates NIMASA Board, charge members on accountability

(TRADE NEWSWIRE): The Minister of Transportation, Rt. Hon. Rotimi Chibuike Amaechi, has charged members of the Governing Board of the Nigerian Maritime Administration and Safety Agency (NIMASA) to enthrone accountability and formulate broad policies aimed at achieving the set objectives of the Agency,TRADE NEWSWIRE reports. The Minister, according to a statement obtained by TRADE NEWSWIRE from a World-renowned First-rate Public ...

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To Nigerian govt: Is sale of Nigerian assets solution to our economic woes without proper diagnostic analysis?

  (TRADE NEWSWIRE): A person that is having a headache and started to administer pain relief to get over it, without knowing that the headache was caused by sleeplessness derived from hypertension he is suffering from, TRADE NEWSWIRE reports. Where as, what is needed is proper diagnostic analysis of the cause and management of the hypertension he is suffering from ...

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Paris Agreement Close to Entry Into Force Threshold

  More than 55 countries have formally joined the Paris Agreement on climate change, officially crossing one of the two thresholds required to bring it into force. The landmark pact seeks to put the world on a path towards low-carbon growth and a more sustainable future. “I am confident that, by the time I leave office, the Paris Agreement will ...

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Marco Polo Marine Faces Cash Crunch

Marine logistics firm Marco Polo said it has substantial doubt about being able to continue as a going concern due to a cash crunch, as it sought noteholders’ approval to defer redeeming bonds worth S$50 million ($37 million) by three years. “There cannot be any assurance that the issuer or the group will be able to continue as a going ...

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[Updated] A.P. Moller-Maersk to Split into Transport, Energy Divisions

  Danish shipping and oil conglomerate A.P. Moller-Maersk said on Thursday it will separate its businesses into separate transport and energy divisions in a bid to better tackle the problems facing its struggling businesses. The focus will be on establishing an integrated transport and logistics company, while its oil and oil-related business will either individually or in combination be separated ...

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Toshiba Tec unveils 6-inch width label printer

  Japan’s Toshiba Tec Corporation has unveiled its newly-developed, six-inch industrial label printer, B-EX6. Toshiba’s newest flagship model in its B-EX series couples the performance and speed necessary to handle even the most rugged industrial applications, a statement said. B-EX6 model is capable of printing on various types of 6-inch labels, which is essential for the manufacturing (including automotive and ...

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Exova signs testing agreement with Tata Steel

Exova, a global testing, calibration and advisory services provider, has won a contract with Tata Steel to deliver bespoke in-house testing over the next three years. Worth over £1.4 million ($1.82 million), the deal will see Exova provide mechanical, metallurgical, chemical and corrosion testing, as well as non-destructive testing on-site at Tata Steel’s facility in Deeside, Wales. The work being ...

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‘Risks remain for EMEA emerging market banks’

  Banks in emerging markets of the GCC countries, Nigeria, Russia, South Africa, and Turkey will stay under pressure for the remainder of 2016 and 2017, according to a new report from S&P Global Ratings. “The operating environments in these emerging banking markets are suffering the effects of low commodity prices on economic growth and investment activity, still significant political ...

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Libya exports first oil from Ras Lanuf since 2014

  An oil tanker left the Libyan port of Ras Lanuf for Italy early on Wednesday with the first crude export cargo from the terminal since at least late 2014, boosting hopes of reviving Libya’s battered oil output. The port manager of Ras Lanuf said a second tanker was preparing to load at the terminal, one of four seized on ...

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India to add UAE, Saudi oil for strategic reserve

  India is talking to the UAE and Saudi Arabia to fill half of the 1.5 million tonnes (mt) of the Mangalore strategic storage, along with Iranian crude, its oil minister said on Wednesday. Dharmendra Pradhan told a news conference India is exploring two to three other models for sourcing oil to fill the remainder of the storage. During Saudi ...

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ABB to sell cable business to NKT Cables

  NKT Cables, a global manufacturer of cable solutions, is acquiring ABB’s global high-voltage cable system business with a total enterprise value of €836 million ($934 million). High voltage cables are key components in sustainable energy networks, used for transmitting large amounts of electricity over long distances. The business is part of ABB’s Power Grids division, which is currently undergoing ...

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Power metering market to top $17.5bn by 2020

  The global power metering market is projected to reach $17.8 billion by 2020, at a CAGR of 8.9 per cent from 2015 to 2020, a report said. Asia-Pacific is the largest market for power meters, added the report entitled report “Power Metering Market by Application (Residential, Commercial & Industrial), by Phase, by type (Smart, Digital, Analog, & Others), & ...

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Dubai to set up new municipal offices complex

  Dubai government has announced plans to build a new municipal offices’ complex at the Hor Al Anz area in the city at a total cost of Dh104 million ($28.3 million), said a report. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance and also chairman of Dubai Municipality, has given approval for the ...

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Dubai’s residential market set for soft landing

  The residential market in Dubai is heading towards a soft landing following a period of restraint in the wake of oil price volatility and negative investor sentiment, said a report by global property expert Knight Frank. With sale prices becoming more realistic and developers adopting a more mature approach to their project launches – phasing projects out and releasing ...

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Zuckerberg pledges $3bn to fight disease

  Facebook chief executive Mark Zuckerberg and his wife Priscilla Chan on Wednesday pledged more than $3 billion toward a plan to “cure, prevent or manage all disease within our children’s lifetime.” Speaking through tears at a San Francisco event to announce the initiative, Chan said she hoped to spare parents the pain she had seen while delivering difficult news ...

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Protests rock US city for 2nd night, one killed

  One person was shot dead on Wednesday in a second night of unrest in the US city of Charlotte, North Carolina, as riot police fired tear gas and rubber bullets to disperse unruly protesters after the fatal police shooting of a black man. Charlotte Police Chief Kerr Putney confirmed that a person shot during the protest had died but ...

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Drone defence

  The event-driven autonomous drone ‘Gemos’ in flight during the press conference on the Essen Security trade fair in Essen, Germany on September 21. The trade fair features  solutions from fire prevention and cyber security and CCTV to the protection of outdoor areas. The trade fair takes place from September 27 to 30. The autonomous Gemos drone can be connected ...

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Just going on vacation may change gene activity

  In a new study comparing a meditation retreat with just relaxing in the same locale, both options improved stress regulation, immune function and other cellular markers in the blood. Researchers measured gene activity, blood markers and reported wellbeing during the vacation and months afterward, and found a large and immediate “vacation effect” in all participants. For those who continued ...

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Satellite tracking could prevent jet disappearances

Two US companies have developed an airline tracking system that they say would prevent planes disappearing in the manner of the Malaysia Airlines MH370. Instead of sending tracking signals to ground stations – which means planes’ locations can be lost over oceans or remote areas – the new system would beam them to satellites. “It doesn’t matter if they’re flying ...

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Oil extends rise after surprise US crude stock draw

  Oil prices extended gains from the previous session in Asian trading on Thursday after a surprise third consecutive weekly US crude inventory draw tightened the market. US West Texas Intermediate (WTI) crude oil futures CLc1 were trading at $45.59 per barrel at 0045 GMT, up 25 cents from their previous close. The contract had already gained as much as ...

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Thales wins major Saudi rail maintenance contract

  Thales, a technology leader for the aerospace, transport, defence and security markets, said it has been awarded a one-year contract to maintain a 2,400-km-railway line – mineral and passenger – of the North South Railway project in Saudi Arabia. The contract, which is renewable, demonstrates the trust relationship built with Saudi Railway Company over years of collaboration to deploy ...

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Bangkok edges out London as world’s top travel destination

  The Thai capital of Bangkok has beaten London to be crowned the world’s most popular travel destination this year, according to an annual ranking by global payments and technology company Mastercard released on Thursday. Tourism has been one of the rare bright spots for Thailand, Southeast Asia’s second-largest economy, which has grappled with weak consumer confidence and exports after ...

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Bobst lands in Nigeria to penetrate West African packaging and label market

.To test market for one year   (TRADE NEWSWIRE): Bobst, a global supplier of equipment and services to the packaging and label industries has commenced operations in Lagos, Nigeria, from where it will serve the entire West African market, TRADE NEWSWIRE reports. The Managing Director, Africa and Middle East, Bobst, Mr. Samir Khoudja, stated this at a press briefing to ...

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‘Jamoh is ‘unequivocally qualified’ to head Finance and Administration arm of NIMASA’

‘Appointment of an insider as Executive Director in NIMASA is added value to maritime sector’ ‘We must downplay politics and embrace professionalism to develop Nigeria’ ‘A laudable strategic appointment made by President Buhari for efficient and effective management of NIMASA’ (TRADE NEWSWIRE): Nearly six months after the appointment of Dr. Dakuku Peterside as the substantive Director General of the Nigerian ...

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Two Destroyers Named for Honored Marines

U.S. Secretary of the Navy Ray Mabus has announced that Arleigh Burke-class destroyer, DDG 125, will be named Jack H. Lucas in honor of the Marine Corps hero and Medal of Honor recipient. Mabus also announced that DDG 126 would be named Louis H. Wilson Jr. in honor of the 26th commandant of the Marine Corps who was also a ...

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Refugees Pay to Board Livestock Carrier

  Two Syrian refugees who allegedly paid a crew member on a livestock carrier to get them to Spain ended up calling in the Italian Coast Guard. The pair, aged 29 and 30, paid $5,000 to the crewman, reports the U.K. Daily Mail, but were subsequently locked on board for three days by the captain of the vessel who intended ...

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Harnessing Boat Pitches for Renewable Energy Onboard

  When a boat pitches in waves, it creates inertial energy. The E.U.-funded SeaKERS project developed the tools to harness this renewable energy for charging yacht batteries. The project team is now planning to commercialize its invention. The amount of energy a yacht consumes means that sailors look to preserve as much power as possible, particularly on long journeys. Electricity ...

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Australia’s Port of Melbourne Sold

  The sale of Australia’s biggest general cargo terminal, Port of Melbourne, was awarded to a group led by QIC Private Capital for about A$9.7 billion ($7.29 billion), the Victorian state government said on Monday. “We believe this investment brings significant diversification benefits for our clients as a landlord port with a well-defined regulatory regime in a globally scarce infrastructure ...

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Qatar Airways starts flying A380 to Sydney

  Sydney has become Qatar Airways’ first destination in Australia to be served by the super-jumbo A380 aircraft, just six months after it joined the carrier’s global network. Following the route’s inauguration with the Boeing 777-300 on March 1, 2016, Qatar Airways has seen a steady growth in demand for its service on the route. The 517-seater A380 aircraft increases ...

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Global fund raises $13bn to fight AIDS, malaria

  A global fund has raised over $12.9 billion from international donors as part of a campaign aimed at effectively eradicating AIDS, malaria and tuberculosis by 2030, conference organizers said on Saturday. The Global Fund asked government, faith-based and private-sector partners to raise a total of $13 billion at a donor conference in Montreal to support its activities over the ...

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3,500 professionals to attend top oil event in Bahrain

  More than 3,500 refining and petrochemicals industry professionals from over 30 countries will converge in Bahrain for the 10th Middle East Refining & Petrochemicals Conference and Exhibition (Middle East Petrotech 2016) next week. Held under the patronage of Bahrain’s Prime Minister His Royal Highness Prince Khalifa bin Salman Al Khalifa, Middle East Petrotech 2016 is the largest gathering of ...

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IoT driving future reality market to hit $150bn

  The global virtual reality (VR), augmented reality (AR), and mixed reality (MR) market is projected to reach $150 billion by 2022, according to a report released by Bank of America Merrill Lynch (BofAML). While VR will account for one-fourth of the market ($30-34 billion), AR and MR will claim the remaining here-fourths ($90-117 billion), the report entitled “A Transforming ...

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Iran urges US to unblock jet deals, seeks investors

  Iran urged the US on Sunday to remove remaining obstacles to buying passenger planes following the lifting of international sanctions and it spread out the welcome mat to foreign investors as it seeks to boost its aviation sector. Iran provisionally agreed earlier this year to buy over 200 jets worth $50 billion at list prices from Airbus and Boeing ...

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$65bn healthcare projects under way in GCC

  More than 700 healthcare construction projects, with a combined estimated value of $65 billion, are currently being developed in the GCC region, said a report. Of these, 133 projects are worth more than $100 million each, stated the latest BNC Report on the GCC Healthcare commissioned by The Big 5 Kuwait 2016, the largest building and construction event in ...

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Oil rebound hauls up European stocks

  Oil prices bounced back from multi-week lows on Monday, hauling up European stock markets and commodity-linked currencies, on hints that producers were close to reaching an output deal. Crude prices rose more than 1 percent, with US futures bouncing off Friday’s one-month low to $43.65 and Brent climbing from a two-week trough to $46.27 after Venezuela said producers could ...

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US probes for links in trio of weekend attacks

Federal investigators sought to determine on Sunday if there were links among three attacks across the US last weekend, involving bombings in New York City and New Jersey and a stabbing rampage at a Minnesota shopping mall. While officials described all three as deliberate, criminal acts and are investigating them as potential “acts of terrorism,” they stopped short of characterizing ...

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Seasonal Low in Arctic Sea Ice Reached

    The Arctic’s ice cover appears to have reached its minimum extent on September 10, 2016, according to scientists at the U.S. National Snow and Ice Data Center (NSIDC).Arctic sea ice extent on that day stood at 4.14 million square kilometers (1.60 million square miles), statistically tied at second lowest in the satellite record with the 2007 minimum. The ...

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Delay to BP’s Australian Drilling Plan

Australian offshore regulator NOPSEMA has advised that it needs more time to assess BP’s environmental plan for the drilling of the Stromlo-1 and Whinham-1 exploration wells in the Great Australian Bight. Meanwhile, Australia’s oil and gas industry group APPEA has slammed the Australian Green Party’s proposal to ban drilling in the Bight. APPEA Director South Australia Matthew Doman said legislation ...

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Ports Adjust to Hanjin Cargo Difficulties

  In the wake of the sudden collapse of Hanjin Shipping’s operations late last month, container terminals around the world are still adjusting their response the the aftermath – whether to allow the carrier’s ships to dock, whether to accept more import containers, how to handle containers already in the terminal and whether to charge extra for discharging them. Ports from ...

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Tourism, Expo 2020 lead Dubai real estate recovery

  Dubai’s housing market reached its peak performance in 2013 when it was announced the Emirate would host the Expo 2020, fuelling speculation on its impact on job growth and the evolution of tourism, a report said. Following the outbreak of the Arab Spring in early 2011, traditionally popular tourist destinations in the Middle East like Cairo lost their appeal ...

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85,000 new hotel rooms to open in MEA next year

  More than 300 new hotels housing almost 85,000 guest rooms are set to open across the Middle East and Africa next year, latest industry figures have revealed. The Middle East and Africa Hotel Construction Overview report by Tophotelprojects– released in the days leading up to the 17th annual The Hotel Show Dubai (September 17-19) – shows that the region ...

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Daewoo E&C wins $730m Qatar expressway contract

  South Korea’s Daewoo Engineering & Construction Company has been awarded a contract worth 805.1 billion won ($730 million) by Ashghal, the public works authority of Qatar, for extension of the E-Ring expressway in capital Doha. As per the contract, Daewoo E&C will be the sole contractor of the project, and will complete the work in 42 months, reported Business ...

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Oil prices drop on returning Libya, Nigeria supplies

  Oil prices fell on Friday on worries that US rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut. Brent crude futures were trading at $46.20 per barrel at 0643 GMT, down 39 cents, or 0.8 per cent, from their last settlement. US West Texas Intermediate futures were down 36 ...

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Iran unveils new chopper-carrying ship

  Iran’s Revolutionary Guard launched a new 55-metre-long naval ship on Tuesday that is capable of transporting a helicopter and up to 100 men, according to the website of state TV. The ship’s launch in the port city of Bushehr, comes at a time of high tension between Iran and the United States over Gulf waters. US officials says there ...

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China to buy planes worth $1trn over next 20 years

  Chinese airlines are likely to purchase 6,810 planes worth $1.025 trillion in the next 20 years as they expand fleets to cater to robust growth in domestic and overseas tourism, Boeing forecast on Tuesday. The latest estimate of 6,810 planes is 7.6 per cent higher than the 6,330 aircraft predicted last year. “The continuing expansion of China’s middle class, ...

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Oil surplus to persist into first half of 2017: IEA

  A sharp slowdown in , global oil demand growthcoupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of 2017, the International Energy Agency said on Tuesday. “Our forecast in this month’s report suggests that this supply-demand dynamic may not change significantly in the coming months. As a ...

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Foreign flights to Nigeria forced to refuel abroad

  Foreign airlines flying to Nigeria have started to refuel abroad to bypass pricey, and increasingly scarce, jet fuel as the oil producer battles a hard currency shortage that has made fuel available only at a very high price. It is the second blow for airlines operating in Africa’s recession-hit biggest economy in a year that first saw the central ...

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Maritime security: NIMASA’s partnership with Nigerian Navy is a ‘Going Concern’- Peterside

  (TRADE NEWSWIRE): The Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has described the partnership between the Agency and the Nigerian Navy as a Going Concern’ for the security of Nigerian water ways and the optimum exploration of the nation’s marine resources, TRADE NEWSWIRE reports. Going Concern: The going concern concept or going concern assumption ...

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Terminal, Jetty operators have no authority over assigned Stevedoring companies to their facilities- Peterside

  .‘Only NIMASA can statutorily carry out oversight functions on Stevedoring companies’ .Peterside starts consultation to resolve crisis between Terminal, Jetty operators and Stevedoring companies’ (TRADE NEWSWIRE): Terminal operators operating at various ports cum Jetty operators have no authority over Stevedoring companies assigned by the government to operate at their facilities, talk less of sacking them from operating therein, the ...

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New Plan to Include Shipping in 2030 Target

rt & Environment (T&E). The amendment calls for shipowners to buy ETS allowances from 2021 onwards or pay an equivalent amount into a new climate fund that minimizes administrative burden by buying allowances collectively on their behalf.The parliamentary groups of the Socialists and Democrats (S&D), Greens and the liberals (ALDE) tabled the proposal. The center-right group, the European People’s Party ...

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Live Exporters Prepare for Islamic Festival

  Australia’s $2 billion live export trade has come under heavy criticism for allowing destination countries to slaughter millions of fully conscious animals, condemning them to a painful and prolonged death. Animal welfare agencies such as the RSPCA and Animals Australia want to see the live export trade banned. Heightened demand during religious festivals increases the danger of inhumane treatment ...

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Maersk Cautiously Optimistic About South Africa

  Although South African container trade remains in negative territory, the second quarter of 2016 proved to be more encouraging than the first, according to the second quarter Maersk Trade Report, which reveals that the market contracted by five over the past quarter, as opposed to the 10 percent decline that was reported in quarter one. Container trade flows in ...

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U.S. Eases Protection of Humpback Whales

    The United States lifted protection for most humpback whales around the globe on Tuesday, including some in American waters, based on evidence they have made a strong comeback since commercial whaling drove them to near extinction. The National Oceanic and Atmospheric Administration (NOAA) removed humpback whales from the Endangered Species Act in nine of 14 population areas, the ...

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Court Calls for More Hanjin Funding

  A South Korean court presiding over Hanjin Shipping’s receivership has asked the firm’s lead creditor for fresh funds, warning the container shipping company needs financial support this week to normalize operations.The world’s seventh-largest container carrier and its clients are scrambling to move an estimated $14 billion worth of cargo off ships that are no longer operating normally in the ...

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Malaysia exports tumble the most in 15 months

KUALA LUMPUR: Malaysia’s exports suffered their biggest slump in 15 months in July, signaling persistent pressure on the export-reliant economy and raising the prospect of further monetary easing before year-end. Exports from the Southeast Asian economy declined 5.3 per cent in July from a year earlier, data from the International Trade and Industry Ministry showed, a sharp contrast to economists’ ...

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World stocks hit one-year highs as Fed hike prospects fade

LONDON: World stocks hit their highest in more than a year and the dollar fell sharply against the yen on Wednesday as expectations of a rise in Federal Reserve interest rates receded after weak U.S. economic data. Emerging market shares led the charge, touching their strongest levels since July 2015 as investors sought yield with interest rates likely to stay ...

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EU seeks to spur fast broadband roll-out with telecoms reform

BRUSSELS: The European Union aims to spur the roll-out of fast broadband across the 28-nation bloc by relaxing rules that force telecom companies to open up their networks to competitors. Under planned reforms of the sector, national telecoms regulators will be required to take into account existing commercial agreements between operators when deciding whether to force them to allow competitors ...

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Amazon to start restaurant deliveries in London

LONDON: Amazon said it would start delivering meals from restaurants direct to customers in some parts of London, the newest entrant to an increasingly competitive market which includes Just Eat, UberEats and Deliveroo. Amazon said in a statement on Wednesday that its “Amazon Restaurants” service would be available to subscribers of its Prime delivery scheme and that delivery would be ...

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Zika could live in eyes, spread through tears: Study

WASHINGTON: The Zika virus can live in eyes, researchers said on Tuesday (Sep 6), after conducting experiments on mice that may explain why some patients develop ocular disease and in some cases become blind. The study, published in the journal Cell Reports, studied the effects of Zika virus infection in the eyes of foetal, newborn and adult mice. “Our study ...

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Sexual function problems common for younger adults after heart attack

In the year after a heart attack, people younger than age 55 often have difficulties with sexual function, according to a study of patients in the U.S. and Spain. “A large proportion of men and women with no prior sexual problems developed one or more sexual problems in the year after heart attack. However, women are far less likely to ...

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Apple sets stage for iPhone 7, many already waiting for 8

  The iPhone 7 is expected to make its global debut later today, but many consumers and investors are already setting their sights on Apple’s 2017 version of the popular gadget, hoping for more significant advances. At its annual product launch in San Francisco on Wednesday, the world’s most valuable publicly traded company is expected by blogs and analysts to ...

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Emirates introduces new flavours of Japan onboard

  DUBAI, 1 hours, 38 minutes ago Emirates has unveiled an exciting new Japanese menu for First Class and Business Class customers on flights between Dubai and Haneda, Narita, and Kansai airports in Japan. Emirates’ catering team in Dubai conceptualised the new menu options and created them in collaboration with a local caterer in Japan, utilising the freshest ingredients possible. ...

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Jordan airport completes second phase of terminal project

  Airport International Group (AIG), – a consortium led by Abu Dhabi-based financial services company Invest AD, celebrated the completion of the second phase of the airport’s New Terminal Project. The inauguration ceremony was carried out in the presence of the Crown Prince of Jordan HRH Prince Al Hussein bin Abdullah II as well as Jordanian Prime Minister, HE Hani ...

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Emirates to fly 160,000 passengers this weekend

  Emirates is anticipating high passenger traffic on its flights this upcoming weekend, with 160,000 travellers expected to pass through Emirates Terminal 3 from September 8 to 10. Consistently high passenger loads from Dubai is also expected on September 11 and 12. Emirates is expecting more than 250,000 passengers to travel during the upcoming Eid Al Adha period as travellers ...

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Volvo, Autoliv team up in autonomous driving

  Chinese-owned Volvo Car Group and auto safety group Autoliv said on Tuesday they would form a joint venture to develop autonomous driving software as automotive firms across the industry race to embrace the emerging technology. The two Sweden-based companies said in separate statements the new company would have an initial work force of about 200 staff taken from both ...

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Daimler sells 100,000th Merc-Benz truck in Mena

  Daimler Commercial Vehicles Mena and Mercedes-Benz Trucks have reached a major milestone with the sale of the 100,000th Mercedes-Benz Actros in the Middle East and in North Africa (Mena) region over the past 20 years. A special event was held recently at the Regional Center of Daimler Commercial Vehicles Mena in Jebel Ali, Dubai, where the 100,000th Actros Truck ...

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Russia considers LNG supplies to Bahrain

  Russia and Bahrain have agreed to expand cooperation in liquefied natural gas (LNG), with Moscow considering LNG supplies to the kingdom. The memorandum of understanding was signed by Russia’s Gazprom and Bahrain’s National Oil and Gas Authority (Noga holding) when Russia’s President Vladimir Putin met Bahrain’s His Majesty King Hamad bin Isa Al-Khalifa in Moscow. “Co-operation in the energy ...

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New technology cuts water evaporation by 70pc

Crystal Lagoons, the multinational innovation company, has developed new film-based evaporation technology, which lowers water-waste rates by up to 70 per cent. The cutting-edge technology is being showcased as part of the company’s offering at Cityscape Global, taking place at Dubai International Convention & Exhibition Centre from 6-8 September. Exclusively manufactured in Canada for Crystal Lagoons, the technology consists of ...

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PayPal, MasterCard reach deal for store payments

  REUTERS: MasterCard Inc said it signed a deal with PayPal Holdings Inc that will allow customers to use PayPal’s payment services in stores. PayPal’s partnership with MasterCard follows a similar deal with Visa Inc in July as the company looks to expand its payments network. The partnership with MasterCard was first reported by the Wall Street Journal. (http://on.wsj.com/2c7upJI) PayPal ...

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Singapore, Australia to exchange financial data for tax purposes from 2018

  SINGAPORE: Under a new agreement, the Inland Revenue Authority of Singapore (IRAS) will automatically exchange financial account information of Australian tax residents in the Republic with its Australian counterparts, and vice versa. The agreement between IRAS and the Australian Taxation Office (ATO) will commence by September 2018, both parties said in a joint statement on Tuesday (Sep 6). “Both jurisdictions ...

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Vietnam carriers splurge US$6.5 billion on Airbus jets

  HANOI: Vietnam airlines bought 40 jets worth US$6.5 billion from France’s Airbus on Tuesday (Sep 6), as President Francois Hollande visited the communist nation to drum up business with one of Southeast Asia’s fastest-growing economies. The deal is the latest move by Vietnamese aviation firms to boost fleets and feed demand from a mushrooming middle class with money to ...

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Ignoring a minor stroke ups risk for more strokes soon after

   People who have a minor stroke – or even a mini-stroke – are at serious risk for further strokes in the next few days, but many people delay going to the hospital because they do not recognize the symptoms, UK researchers warn. Often for these kinds of stroke, experts recommend surgery within 48 hours to unclog a major artery ...

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Classroom standing desks may help kids slim down

Standing desks in classrooms could help children maintain a healthy body weight, a new study suggests. These desks are set at a height that allows students to alternate between sitting on a stool or standing while working. Standing desks “can interrupt sedentary behavior patterns” while kids are in school, “simply, at a low cost, and without disrupting classroom instruction time,” ...

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