Transport

Donor countries promise US$30 million to rehabilitate Basra?s International Airport

The Basra Governorate Council has held a number of meetings with investors and donor countries to invite them to invest and bring capital in from donor countries to Basra, one of the most important cities for the economy of Iraq and the region.

Ahli United Bank and Arab Banking Corporation to finance US$480m port development in Egypt

Ahli United Bank B.S.C. (AUB) and Arab Banking Corporation (ABC) announced the signing of a landmark US$480m facility agreement with Damietta International Port Company (DIPCO). The facility will be used to finance the development of a new container terminal, set to be the largest of its kind in the Middle East, within the Port of Damietta on Egypt's Mediterranean coast.

Arabs pump US$1 billion into upgrading transport infrastructure

Several Arab countries are striving to develop public transportation projects and infrastructure, capitalising on record economic growth in their national economies and colossal liquidity levels, generated from soaring oil and energy prices.? Experts forecast the coming months and years to witness the establishment of new underground, metro, railway and bus networks, alongside advanced road grids, to accommodate the rapid population growth sprawling across the region.

DAE to sign deal for 30 aircraft within six weeks

Dubai Aerospace Enterprise (DAE) will sign in four to six weeks deals to acquire 30 aircraft as part of a plan to build a fleet of 125 planes within five years. These purchases will be in the secondary market and involve up to four transactions, DAE Capital's chief executive officer Bob Genise said.