DUBAI: DP World, the international ports and logistics business based in the UAE, handled more containers last year than at any time in its history, as the growing world economy boosted global trade.
In its annual assessment of container traffic through its ports, the company reported that more than 70 million TEUs — 20 foot equivalent units — passed through ports it either owned or had a significant presence in. That outcome was a 10 percent rise over 2016, beating forecasts of 6 percent by industry experts Drewry Maritime.
Sultan Ahmed bin Sulayem, the group chairman and CEO, said: “Benefiting from the improved trading environment and market share gains, our global portfolio once again delivered ahead-of-market growth in 2017 and has seen strong performance across all three regions.”
There were double digit increases in volumes in the Americas and Australia, at 13.8 percent ahead, and in Europe, Middle East and Africa, 11.5 percent up. The Asia Pacific and India subcontinent was 7.9 percent ahead in volumes.
Last year also saw a revival of business in DP World’s key port at Jebel Ali in Dubai, its most important profit center, which had suffered from declining trade volumes in 2016. The UAE contributed 15.4m TEU to the total, 4 percent ahead.
“We are also pleased to see stable performance in the UAE as volumes continue to grow in the fourth quarter of 2017 amidst uncertainty in the region and tougher year-over-year comparables. The performance across our other terminals in the Middle East & Africa remains strong, in addition to Europe and the Americas,” bin Sulayem added.
Consolidated terminals — ones wholly owned by DP World — accounted for roughly half of the total.
DP World shares, traded on the Nasdaq Dubai market, bucked the trend of falling equities markets in the region to inch ahead by 0.1 percent.
In the UAE, the company still has no date for the completion and opening of terminal 4 (T4) in Jebel Ali. It said recently that it was looking to launch T4, which will lead to a big expansion in capacity, when justified by market conditions.
DP World is expecting a significant impact on its operations over the next two years as business grows to build and accommodate the Expo2020 exhibition in the UAE. Its port and connected industrial zone is close to the Expo site in south Dubai and the new airport facilities at Dubai World Central.
Industrial parks and economic zones will be a feature of future expansion strategy, already pioneered at the London Gateway development in Britain, and at several other locations in the Americas and Africa.
It is also likely to increase its interest in the Red Sea region. DP World already has port facilities in Jeddah, where there is a big infrastructure investment program under way, and in Egypt’s new Suez Canal industrial zone.
Record container traffic reported in global trade boost by DP World
Record container traffic reported in global trade boost by DP World
Pakistan vows order as Imran Khan’s party launches protest before Belarusian president’s arrival
- Deputy PM questions PTI motives, calling protest march ‘conspiracy’ against Pakistan’s honor
- Interior Minister Mohsin Naqvi asks Ali Amin Gandapur to prioritize stability in his own province
ISLAMABAD/PESHAWAR: Tension continued to mount in Pakistan on Sunday as the government vowed to prevent any disruption in Islamabad during a high-level visit by the Belarus president, as supporters of jailed former prime minister Imran Khan began marching to the capital to demand his release.
Khan’s Pakistan Tehreek-e-Insaf (PTI) party is spearheading a “long march” to the capital after more than a year of his incarceration on charges he claims are politically motivated. The party is also protesting alleged rigging in February’s general elections and raising concerns about judicial independence, which it says has been undermined by recent constitutional amendments, a claim the government denies.
Security in Islamabad has been tightened, with paramilitary forces deployed and major roads sealed with shipping containers. The interior ministry has suspended mobile data services in sensitive areas, and highways have been blocked to thwart the arrival of protesters.
Addressing the media in Islamabad, Interior Minister Mohsin Naqvi criticizing PTI’s timing ahead of the three-day visit of Belarusian President Aleksandr Lukashenko to discuss for bilateral economic cooperation.
“Protecting the lives and property of citizens is a priority,” he said. “Disruption during the arrival of foreign guests will not be tolerated under any circumstances. Anyone spreading chaos will be arrested.”
Naqvi also urged Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, a close aide of ex-PM Khan, to prioritize stability in his own province instead of staging protests, calling such demonstrations harmful to national interests.
He also informed the authorities had detained “extremists” in Islamabad.
Pakistan’s Deputy Prime Minister Ishaq Dar also questioned PTI’s motives, describing its protest as “a deliberate conspiracy against the country’s honor and dignity.”
Earlier, Planning Minister Ahsan Iqbal accused Khan’s party of attempting to disrupt Pakistan’s economic recovery by launching a demonstration right ahead of the Belarusian president’s visit.
“I am hopeful this drama will end tonight, and normalcy will return,” he said at a press conference in Lahore.
Iqbal defended the government’s strict measures, highlighting its responsibility to ensure law and order.
Meanwhile, residents of Islamabad said they were already grappling with disruptions. Mohammad Hayat, a 32-year-old fruit vendor, lamented the impact of the ongoing political friction between the government and the opposition party on his livelihood.
“Since morning, I haven’t had a single customer. Roads are blocked, people can’t come out, and my fruit is perishing,” he said.
Another resident, Sayyed Sarmad from E-16 sector, criticized the road closures, claiming, “A girl died in an ambulance yesterday. The government should allow protests but manage them better.”
PTI leaders also remained resolute as caravans from KP headed toward Islamabad.
Asif Khan, a party lawmaker, declared “we will go to our destination at any cost,” highlighting transportation challenges as booked vehicles were allegedly blocked. “We arranged vehicles from other districts and captured videos to show our strength,” he added.
Iman Tahir, a women’s leader from Attock, underscored the movement’s peaceful nature.
“We have always been peaceful and will go peacefully this time again,” she said. “Today, all of Pakistan will rise, and Khan’s final call will be a successful one.”
Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur, leading the rally, reiterated his commitment while traveling in official protocol.
“We are going to D-Chowk at any cost, and we will not return before reaching D-Chowk,” he said at the Peshawar Motorway toll plaza, referring to an iconic spot in Islamabad that has witnessed political protests for decades.
Another PTI lawmaker, Arbab Sher Ali, echoed the party’s determination to reach the federal capital, saying, “We are instructed to reach Islamabad and are following Khan’s directives. If we can’t reach today, we will reach tomorrow or the day after.”
PTI leaders have hinted at an indefinite sit-in in Islamabad, saying the will not return until their demands are met by the government.
Bangladesh Days celebrates heritage in Riyadh
RIYADH: The Bangladesh Days, held as part of Riyadh Season under the theme “Global Harmony,” concluded Saturday night at Al-Suwaidi Park, the Saudi Press Agency reported.
Organized by the Ministry of Media and the General Entertainment Authority, the event attracted people of all ages and backgrounds, who were able to enjoy a rich cultural experience reflecting the diversity of Bangladeshi heritage.
Bangladesh Days offered visitors the opportunity to taste renowned Bengali cuisine, purchase traditional clothing and artisanal items, and attend folkloric performances.
The activities provided a comprehensive experience, offering a close-up look at the vibrant traditions of Bangladesh and reflecting the cultural diversity Riyadh Season seeks to highlight.
The “Global Harmony” initiative celebrates a variety of cultures, including those of India, Pakistan, Malaysia, Sudan, Jordan, Lebanon, Syria, Bangladesh, and Egypt.
Riyadh Season has already drawn more than 6 million visitors from around the world, according to Turki Al-Sheikh, chairman of Saudi Arabia’s General Entertainment Authority.
The inspiring story behind Saudi Arabia’s Conjoined Twins Program
RIYADH: Ahead of the International Conference on Conjoined Twins held in Riyadh, Saudi aid agency KSrelief Supervisor-General Dr. Abdullah Al-Rabeeah hosted a media roundtable on Saturday to discuss the goals and expectations of the two-day conference that concludes on Nov. 25.
Recalling the inspiration behind the Saudi Conjoined Twins Program, Al-Rabeeah explained that in 1990, amid the Second Gulf War, a set of Sudanese conjoined twins, Samah and Heba, were seeking financial support from King Fahd to get treatment abroad.
King Fahd brought the issue to Al-Rabeeah’s team at the time at King Faisal Specialist Hospital and Research Center, and after months of tests and deliberations, they completed the first successful conjoined twins separation surgery in the Kingdom.
The operation took 18 and a half hours.
“We started to invest in the nationalization of the medical team until … all specialties were from Saudi Arabia,” Al-Rabeeah said. “Today we have seen 143 sets over 34 years. We have separated 61 sets with 100 percent success … and we have 7 sets waiting to be separated.”
King Abdullah Specialized Children’s Hospital now has the only known conjoined twins operating room.
King Salman and Crown Prince Mohammed bin Salman moved this program under KSrelief to support low-income families and families from conflict zones.
“Humanity has no politics, no boundaries, no religion, and no color,” said Al-Rabeeah.
The conference will cover a range of topics, including the candidacy process, antenatal and post-natal care, cardiac conditions, ethical considerations, reconstruction, and 3D imaging.
Al-Rabeeah also said the conference is set to discuss and sign several UN agreements related to children, including on conjoined twins, polio vaccination in Afghanistan, artificial limbs, infectious diseases in children, and the children of Gaza.
He also spoke about the importance of combining medical knowledge in the Gulf and working together to create specialized centers across the region for different matters, to make operations more cost-effective and advanced.
“Science is not owned, it is for everybody,” the Saudi aid agency chief said.
On the technological developments that are optimizing this procedure, Al-Rabeeah mentioned the use of argon lasers, ultrasonic knives, new electric coatings to avoid bleeding, less sensitive prosthetics, and, most importantly, early diagnosis.
Al-Rabeeah said that the greatest research in this program has been done on early detection of conjoined twins in the womb. They are now capable of detecting conjoined twins sometimes at just eight to 10 weeks.
Al-Rabeeah’s most crucial piece of advice is urging women to start prenatal care early.
The importance of psychological care for both the patients and the families was also discussed. Al-Rabeeah pointed out what is referred to as “separation trauma” that twins endure when learning how to adjust to their bodies after having been connected all their lives.
“The twins, they have pain, they have suffered. I have seen two kinds of tears in my life. We all know about the tears of despair, the tears of pain. But with conjoined twins, I have seen clearly the tears of happiness and joy.
“When I come out of the operating room, going in with one bed, and coming out with two beds … this is the best moment in my life.”
Separated twins, families visit 2034 World Cup exhibit, historic At-Turaif district
RIYADH: Saudi aid agency KSrelief organized a special visit for conjoined twins who had undergone separation surgeries in the Kingdom, along with their families, to Saudi Arabia’s 2034 World Cup bid exhibition.
The visit was organizaed on the sidelines of the International Conference on Conjoined Twins, held in Riyadh from Nov. 24-25.
The twins and their families also toured the historic At-Turaif district, a UNESCO World Heritage Site known for its stunning architecture, which reflects Saudi Arabia’s scientific and cultural advances.
At the end of the visit, the twins and their families expressed their gratitude to the Kingdom, represented by KSrelief, for organizing the visit and for the warm hospitality of the Saudi people.
Morgan Stanley receives approval to establish regional HQ in Saudi Arabia
RIYADH: US-based investment bank Morgan Stanley has been granted approval to establish its regional headquarters in Saudi Arabia, as the Kingdom continues to attract international investment.
This move aligns with Saudi Arabia’s regional headquarters program, which offers businesses various incentives, including a 30-year exemption from corporate income tax and withholding tax on headquarters activities, as well as access to discounts and support services.
Saudi Investment Minister Khalid Al-Falih confirmed the progress of this initiative in October, stating that the Kingdom has successfully attracted 540 international companies to set up regional headquarters in Riyadh—exceeding its 2030 target of 500.
“Establishing a regional HQ in Riyadh reflects the growth and development of Saudi Arabia and is a natural progression of our long history in the region,” said Abdulaziz Alajaji, Morgan Stanley’s CEO for Saudi Arabia and co-head of the bank’s Middle East and North Africa operations, according to Bloomberg.
Morgan Stanley first entered the Saudi market in 2007, launching an equity trading business in Riyadh, followed by the establishment of a Saudi equity fund in 2009.
This approval follows a similar move by Citigroup earlier this month, with the bank also receiving approval to establish its regional headquarters in Saudi Arabia.
Fahad Aldeweesh, CEO of Citi Saudi Arabia, emphasized that this development would support the firm’s future growth in the Kingdom.
Goldman Sachs, another major Wall Street bank, also received approval in May to set up its regional headquarters in Saudi Arabia.
Prominent international firms that have already established regional headquarters in Saudi Arabia include BlackRock, Northern Trust, Bechtel, PepsiCo, IHG Hotels and Resorts, PwC, and Deloitte.
In addition, a recent report from Knight Frank noted that Saudi Arabia's regional headquarters program has led to increased demand for office space in Riyadh, with the city’s office stock expected to grow by 1 million sq. meters by 2026.
In August, Kuwait’s Markaz Financial Center echoed this sentiment, predicting a significant uptick in the Kingdom’s real estate market during the second half of the year, driven by the regional headquarters program.
