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NEWS
DP World reports strong volume growth of 9.4% in 2021
n DP World Limited handled 77.9mn TEU (twenty-foot equivalent units) across its global portfolio of container terminals in full year 2021, with gross container volumes increasing by 9.4% year-on-year on a reported basis and up 8.9% on a likefor-like basis.
On a Q4-2021 basis, DP World handled 19.6mn TEU, up 2.6% year-on-year on a reported basis and up 2.3% on a like-for-like basis. 2021 gross volume growth was broad based with India, Asia Pacific, Middle East & Africa, Europe, Australia and Americas regions being the key growth drivers. At an asset level, Qingdao (China), Mumbai, Mundra, Chennai (India), Sokhna (Egypt), London Gateway (UK), Caucedo (Dominican Republic), Callao (Peru), and Sydney (Australia) delivered a strong performance.
Jebel Ali (UAE) handled 13.7mn TEU in 2021, up 1.9% year-on-year.
At a consolidated level, DP World terminals handled 45.4mn TEU during 2021, increasing 8.8% on a reported basis and 8.1% year-on-year on a like-forlike basis.
“We are delighted to report another strong volume performance with growth of 9.4% for the year, which is once again ahead of industry growth of 6.5%. This outperformance is due to our continued investment in high quality assets in the right locations and the delivery of our strategy to offer integrated supply chain solutions to beneficial cargo owners,” remarked Sultan Ahmed Bin Sulayem, Group Chairman and Chief Executive Officer, DP World.
DP World partners with Maersk Mc-Kinney Moller Centre for Zero Carbon Shipping
n DP World reinforced its commitment to being a world leader in sustainability by entering a strategic partnership with Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping (the Centre).
Launched in 2020 as an independent, not-forprofit organisation, the Centre is undertaking intensive research and development to find practical ways to decarbonize the maritime industry through several global initiatives.
As a partner, DP World is committing to longterm strategic collaboration and contribution to the development of zero carbon technologies and solutions for the maritime industry.
DP World will make several of its specialists available to the Centre in Copenhagen to provide insights to end to end supply chains and help demonstrate and test novel solutions across the value chain in a live setting.
“Their proactive response to addressing climate change and strong sustainability focus is very aligned with our mission and we look very much forward to having DP World onboard,” remarked Bo CerupSimonsen, CEO, Mærsk Mc-Kinney Møller Centre for Zero Carbon Shipping.
“DP World is excited to be working alongside other leading organisations committed to a collaborative approach to solving the challenges of achieving zerocarbon economies,” noted Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World.
TASNEE embarks on large-scale digital transformation with SAP
n TASNEE, the first Saudi joint stock company wholly owned by the private sector, recently inked an agreement with global technology company SAP, to implement SAP S/HANA Cloud, the core offering of RISE with SAP, to power its business growth strategy.
The milestone transformation tackles various challenges faced by TASNEE which include a greater need for business agility, operational efficiency, and compliance as well as growing demand for visibility on real time financial performance.
By moving to S/4 RISE, TASNEE will benefit from the resilience of S4 on the Cloud while also solving complex business process with a highly customized ECC system. As part of this digital transformation, SAP will deliver to TASNEE a range of solutions, including a variety of SAPS/4 HANA Cloud and SAP Enterprise Testing solutions among other SAP products.
“Partnering with SAP is a long-term strategic decision that will enable TASNEE to develop new operational models through improved decision-making, facilitating an enhanced digital experience overall,” affirmed Mutlaq Al-Morished, CEO, Tasnee.
“The partnership with TASNEE is truly a milestone achievement, as it will be one of the most significant RISE transformations in the wider region,” asserted Ahmed Al-Faifi, Senior Vice President and Managing Director, SAP Middle East North.
In addition to the transformation initiative, FAHSS (an integral subsidiary of TASNEE) also signed an education reseller agreement with SAP. As part of the agreement, FAHSS shall offer a combination of instructor-led and self-paced training solutions developed by SAP Training and Adoption unit.
TASNEE was founded in 1985 and is one of the world’s largest investors in titanium dioxide.
The SAP - TASNEE deal signing ceremony.
dnata significantly enhances cargo offering in Erbil, Iraq
n dnata has achieved an important milestone in Erbil, the capital of Iraqi Kurdistan.
The company implemented the ‘OneCargo’ system, digitizing processes and maximizing efficiencies across its cargo operations in Iraq. The advanced tool, which dnata plans to launch globally, is expected to deliver significant commercial benefits for customers.
OneCargo automates key business and operational functions, including safety and quality monitoring, reporting and ULD management, with an integrated, cloud-based platform.
Having launched the system in Iraq, dnata plans to gradually implement OneCargo at additional stations, including airports in Pakistan, Switzerland, UAE, USA and Zanzibar (Tanzania) across its extensive global cargo network.
By 2023, OneCargo will have a user base of over 2,000 staff members across 10 stations in six countries, interfacing seamlessly with a host of other system applications within the IT landscape of the business, according to a press communique.
“The implementation of OneCargo in Erbil is a major milestone which paves the way for the global launch of this advanced digital solution. In addition to improving operational and commercial performance, OneCargo will help us drive synergies across our international network and ultimately offer more value to our customers,” remarked David Barker, dnata’s Divisional Senior Vice President for Airport Operations.
Tradeling celebrates two years of a good track record
n Tradeling, MENA’s dominant e-marketplace focused on business-to-business (B2B) transactions, celebrates two years of being the main search and sourcing tool for business buyers across the region.
Tradeling has seen an exponential revenue growth of more than 35% month on month since its inception and its product selection increasing to over 700,000. Today, Tradeling has over 126,000 registered buyers and sellers from over 55 countries and has seen a notable 70,000 requests for quotations and inquiries.
The past two years have seen Tradeling partner with over 20 like-minded entities and trade associations around the world, reinforcing Tradeling’s offering to successfully connect global suppliers with MENA-based demand.
As Tradeling ventures into its third year, it boasts a growing team of over 200 tech and business enthusiasts that is set to reach 450 people by the end of 2022 as it expands to Egypt and Saudi Arabia.
This expansion will continue to see Tradeling support MENA-based buyers to find the right products and materials, engage with new suppliers, and deliver end-toend services for business-to-business trade engagement.
“The future of trade is digital and we are continuing to grow our team and expand our digital ecosystem in the most user-friendly and convenient manner by enabling businesses around the world to trade through a single, seamless and reliable digital platform,” emphasized Marius Ciavola, CEO, Tradeling.
Marius Ciavola, CEO, Tradeling.
FarEye announces second ESOP Buyback Program
Kushal Nahata, CEO & Co-founder, FarEye.
n FarEye, a global SaaS platform provider transforming last-mile logistics, recently announced liquidation for Employee Stock Ownership Plan (ESOP) holders worth US$ 1.22mn via buyback.
Aimed at rewarding and recognizing employees’ dedication and hard work in driving FarEye’s growth over the last year, this is the company’s second buyback and largest to date, a press statement noted.
FarEye will be performing this buyback of vested ESOPs using its cash reserves, a move that signals the confidence the management and investors share in the business, and the important role of employees in the success of FarEye.
In 2021, FarEye launched a revised ESOP aimed at being more employee friendly, and democratizing ESOP grants to a significant section of its 700+ employees globally. In the last year, the number of ESOP holders jumped more than 400 percent to over 200 employees, a number that is expected to grow rapidly.
“This ESOP is our way of showing our gratitude and in turn, making our employees become partners in our success,” observed Kushal Nahata, CEO, FarEye.
Last year, FarEye raised US$ 100mn in Series E funding to accelerate the company’s mission of empowering brands to provide Amazon Prime-like delivery experiences and redefining how products are delivered across diverse logistics networks, a press statement concluded.
AD Ports Group records strong revenues of US$ 1.1bn for 2021
n AD Ports Group recently announced its 2021 financial results based on preliminary, unaudited financials for the 12 months ended December 31, 2021, reporting revenue growth of 14% year-on-year to AED 3.9bn (US$ 1.1bn) compared with AED 3.4bn (US$ 933mn) in 2020, driven by volume growth, business diversification and new partnerships.
Net profit reached AED 845mn (US$ 230mn) in 2021 from AED 397mn (US$ 108mn) in 2020. As of December 31, 2021, the total assets of the Group stood at AED 28.5bn (US$ 7.8bn), while the equity increased to AED 10.7bn (US$ 2.9bn).
“These excellent results demonstrate that AD Ports Group has consolidated our leadership position during a period where global trade and supply chains have experienced many challenges,” commented Falah Mohammed Al Ahbabi, Chairman, AD Ports Group.
“We believe that the Group is well positioned to accelerate its local and international expansion plans in 2022 and beyond with transformational impact across a broad range of industries,” remarked Captain Mohamed Juma Al Shamsi, Group CEO, AD Ports Group.
“AD Ports Group benefits from our well-balanced capital structure, investment-grade credit ratings, and stable longterm cash flows. This was evidenced by 14% Revenue growth compared to 2020,” said Martin Aarup, Group Chief Financial Officer, AD Ports Group.
Container throughput grew to 3.4mn TEUs in 2021, up from 3.2mn TEUs in 2020, despite the ongoing supply constraints faced in the global shipping and container market.
Etihad Cargo launches ‘Forever Home’ for animal rescues
n Etihad Cargo has launched ‘Forever Home’, to support not-for-profit live animal at risk transportation. The new policy enables the UAE’s national carrier to consider requests from bona fide rescue and animal welfare organisations for not-forprofit transportation of animals at risk.
“Forever Home reflects Etihad Cargo’s desire to assist in the relocation of live animal rescue missions, which may involve animals which have been abandoned, seized by authorities, or neglected,” said Martin Drew, Senior Vice President Sales and Cargo, Etihad Aviation Group.
‘Forever Home’ significantly expands Etihad Cargo’s existing animal welfare and conservation policy, which commits to identifying and implementing actions to help prevent the illegal wildlife trade and encourage responsible sustainable tourism.
Etihad Cargo’s dedicated LiveAnimals and SkyStables products provide customised solutions for transporting animals and horses, from family pets to global conservation projects. Adhering to all regulatory requirements, Etihad Cargo ensures the safest treatment of all species entrusted in its care with dedicated handling, pallet build-up, and ramp transport by specially trained staff.
UAE based Gulftainer unloads heavy, oversized project cargo in Iraq
n UAE-based Gulftainer, one of the world’s leading privately-owned independent port operators, recently successfully unloaded a 121 ton, 35m-long vacuum unit at its Iraq Container Terminal (ICT).
The unit, manufactured for Midland Refineries Company in the UAE, was shipped via the port of Jebel Ali to Iraq, where it will be utilised by Najaf Refinery.
The shipping of such units signals a rebound in business for Gulftainer and other port operations around the globe, whose supply chain was affected by the pandemic.
“Our team worked closely with key customers to ensure the seamless shipping and unloading of the vacuum unit,” commented Nic Gray, Managing Director, Gulftainer’s Operations in Iraq.
Dubai Customs’ achievements in 2021
n Dubai Customs crowned its outstanding performance in 2021 by winning the Elite Award in Dubai Government Excellence program’s biggest edition, which saw the participation of 132 local and international judges who assessed over 30 government entities against a number of strict quality standards.
Dubai Customs launched its 5-year (2021-2026) strategic plan, which stands on five principles: Agile, Innovative, Digital, Disruptive, Visionary, following four main objectives to enhance revenues, reduce costs, and maintain the organization’s leading role worldwide.
Trade sector in Dubai is growing steadily, which reflects a healthy recovery from the repercussions of the pandemic,” remarked Ahmed Mahboob Musabih, CEO, Ports, Customs and Free Zone Corporation, Director General of Dubai Customs.
Dubai Customs transactions skyrocketed 50% to 24mn from 16mn in 2020. The leading government department has invested generously in its smart systems, and 99.6% of transactions were completed through smart channels.
Dubai Customs achieved another feat and topped the IdeasUK Platinum Index obtaining 12 platinum accreditations, including nine accreditations with full mark; unprecedented achievement at the public and private sectors worldwide.
Customs enhanced this performance further by winning the idea of the year and nine other international awards from IdeasAmerica 2021. The leading Government Department won six golden awards, which is the first time in which Dubai Customs wins this number of golden awards in Ideas America’s finals.
The government department organized four meetings for business groups in the emirate within its vision of enhancing communication with strategic partners. Members of the Dubai Customs Consultative Council include National Association of Freight and Logistics (NAFL) and others.
Dubai Customs has signed agreements with Jebel Ali Free Zone (JAFZA), Dubai Airport Free Zone (DAFZA), Dubai CommerCity and Dubai South to provide them with the services and facilities of the Cross Border E-Commerce Platform.
Sipchem achieves financial targets ahead of schedule
n Saudi Arabia’s Sahara International Petrochemical Company (Sipchem), one of the leading companies in the global petrochemical sector, has announced that it is firmly on track to achieve the financial and operational goals set out when the newly merged company was created in May 2019.
During the two and a half years since the merger of Saudi International Petrochemical Company and Sahara Petrochemicals Company to form Sipchem, the company has accomplished many significant milestones throughout its integration journey.
This target has already been surpassed six months ahead of schedule to reach a synergy value of SAR 298mn (US$ 75.43mn), a remarkable achievement that has been driven by increases in efficiency and productivity, according to a press statement.
The company has built on its strength and marketing capabilities, which helped achieve its integration objectives while taking advantage of Sipchem’s strong presence in global markets and proximity to demand centers, customers, and consumers around the world. 70% of its products are marketed through its subsidiaries in Singapore and Switzerland.
Sipchem’s focused efforts for effective decision steering and agility also drove increased efficiencies
Eng. Abdullah S. Al-Saadoon, CEO, Sipchem
across core administrative functions, achieving improved accountability and talent retention throughout the organization. “Thanks to our combined resources, we succeeded in leveraging our diversified portfolio, which has enabled us to reach our targets much earlier than anticipated and achieve an annual growth in share value of 145%,” commented Eng. Abdullah S. Al-Saadoon, CEO, Sipchem.
Aramex FY-2021 revenues grow 10% to record AED 6.07bn
n Aramex recently announced its preliminary financial results for the fourth quarter (Q4-2020) and full year (FY) ending 31 December 2021.
In Q4-2021, revenues rose 1% YoY to AED 1.61bn driven by strong performance in Logistics & Freight-Forwarding Business. FY 2021 Revenues jumped 10% YoY to a record AED 6.07bn.
Q4-2021 Operating Profit decreased 33% YoY to AED 60mn. The drop in operating profit is attributed to the Linehaul cost due to the continued pricing pressure higher operating costs as the company continued to scale operations to cater to higher demand and Covid-19 induced costs and capacity constraints. FY-2021 operating profit declined 23% YoY to AED 307mn.
Q4-2021 Net Profit fell 21% to AED 46mn compared to AED 59mn in Q4-2020. FY-2021 Net Profit decreased by 15% to AED 225mn, compared to AED 267mn in FY 2020.
Othman Aljeda, CEO, Aramex.
“In 2021, we witnessed a significant progress in the pace of recovery of the global economy, while businesses reconfigured operating and business models to adapt to the repercussions of the pandemic,” remarked Captain Mohamed Juma Alshamsi, Chairman, Board of Directors, Aramex. “2021 demonstrated our ability to capture growth opportunities spurred by a buoyant e-commerce market and good recovery in certain industries, while simultaneously implementing a fully redesigned operating model,” commented Othman Aljeda, CEO, Aramex. “Over the course of the year, we invested in expanding our operations in key markets, including Riyadh, where we built and are operating a fully automated warehouse,” noted Alaa Saoudi, COO, Aramex Express.
DAFZ organizes a sourcing event for business leaders across the F&B sector
n The Dubai Airport Free Zone (DAFZ) highlighted the vibrant business environment and investment opportunities it offers to regional and global food companies at the recently concluded Gulfood 2022.
During the exhibition, DAFZ organized a promotional event that brought together representatives from the free zone with investors, entrepreneurs and owners of F&B companies.
The attendees were briefed on DAFZ’s portfolio of offers, services, tax and investment incentives, and business support it provides to investors. The event provided several opportunities for side meetings and networking to explore future opportunities with potential partners.
Abdulaziz Alhammadi, SVP, Marketing & Business Growth at DAFZ, confirmed that regional and global F&B companies are aspiring to transfer their operations to the emirate of Dubai.
This is due to its strategic location at the heart of global trade, as well as its perennial quest to accelerate and enhance the efficiency of supply chains by making these companies and their production processes closer to distributors across various markets.
Additionally, DAFZ reviewed its portfolio of programs and initiatives designed to support F&B companies and
Abdulaziz Alhammadi, SVP, Marketing & Business Growth, DAFZ.
their operations, such as Scality. The oneof-a-kind innovative start-up program which is set to attract local, regional and global tech start-ups to establish and grow their businesses in the region.
ACWA Power-led consortium and OPWP inaugurate Ibri project
n Under the patronage of HE Sayyid Hamoud Bin Faisal Al Busaidi, Omani Minister of Interior, and in the presence of HE Eng. Khalid Bin Abdulaziz AlFalih, Saudi Minister of Investment, a consortium consisting of ACWA recently inaugurated Ibri 2.
This is the first solar independent power project (IPP) to be launched under the country’s national renewable energy programme and connected to the main national grid. The consortium will produce renewable energy over a 15-year period for the Oman Power and Water Procurement Company (OPWP).
At an investment of US$ 417mn (OMR 160mn), Ibri 2 is Oman’s largest utilityscale renewable energy project. The project was developed on a build, own, operate (BOO) basis, which utilises solar photovoltaic technology to generate 500 MW of renewable power.
“Together with our partners Gulf Investment Corporation and Alternative Energy Projects Co., we have leveraged our combined strengths in investments, industry expertise and technological know-how to achieve the rapid and successful completion of the milestone Ibri 2 project,” commented Mohammad Abunayyan, Chairman, ACWA Power.
At peak generation capacity, the plant output will be enough to supply an estimated 50,000 homes with electricity and will offset 340,000 tonnes of carbon dioxide emissions a year.
“With Ibri 2, we have demonstrated immensely strong project development capabilities, as this is the largest solar PV power plant in my country, that also incorporates the most advanced technological solutions in the world,” remarked Eng. Yahya Bin Muhammad Al-Rawahi, CEO, Shams Ad-Dhahirah Generating Company,
Located in Ad-Dhahirah Governorate, Ibri 2 PV IPP comprises of approximately 1.5mn bi-facial solar panels and extends over an area of 13mn sqm.
Eng. Abdullah Aldubaikhi, CEO, Bahri.
Bahri Board of Directors expands company capital
n Bahri, the Saudi Arabian global leader in logistics and transportation, recently announced that its Board of Directors is planning to issue free shares, expanding its capital over SAR 4,92bn (US$ 1.31bn) equating to a 25% total increase. The company has shown exceptional flexibility, leading to a major improvement in the final quarter of 2021 compared to the previous quarter and the same period in 2020. Profits are up by 22% in the current quarter thanks to rising transport prices and greater demand for transport services, despite the economic difficulties resulting from the Covid-19 pandemic, a press communique indicated. “Despite tremendous challenges that have negatively impacted transport prices, we have managed to distribute free shares and profits to our shareholders, a move which we are very proud of,” commented Eng. Abdullah Aldubaikhi, CEO, Bahri.
Eng. Aldubaikhi noted that Bahri has shown great financial flexibility in one of the most difficult periods the transportation industry has ever faced, adding that the company is constantly working to enhance its services and find new opportunities to improve performance and reduce costs.
Last September, the Board of Directors decided to distribute over SAR 393mn (US$ 104.75bn) in cash profits from the first half of 2021 to shareholders, a figure that well exceeded the net profit of SAR 192mn (US$ 51.16mn) announced at the end of the year.
Fertiglobe announces robust 2021 net income of US$ 737mn
n Fertiglobe, the strategic partnership between ADNOC and OCI, the world’s largest seaborne exporter of urea and ammonia combined, the largest nitrogen fertilizer producer in the Middle East and North Africa (MENA) region, recently reported that its Q4-2021 revenues increased 138% to US$ 1,184mn.
Fertiglobe operates a diverse regional footprint of four world-class production facilities in three countries, Egypt, Algeria and the UAE. The company has significant non-GDP growth levers, benefitting from a unique combination of factors including strategic locations and a competitive low-cost position, which support healthy free cash flows and attractive dividends.
As a global leader in merchant ammonia and an early mover in clean ammonia, Fertiglobe is well positioned to capitalize on the global transition to a hydrogen economy, with ammonia having emerged as one of the most promising products to enable the energy transition, and benefiting from its existing ammonia production, distribution infrastructure, and access to abundant attractive wind and solar resources for renewable energy generation, according to a press communique.
“Our current order book looks healthy into Q2 2022, and we expect H1 2022 to be strong, driven by attractive farm economics, strong demand in our ammonia end markets and our globally competitive position,” remarked Ahmed El-Hoshy, CEO, Fertiglobe.
Fertiglobe’s distribution capabilities, including the ability to manage inventories close to key demand centres coupled with a disciplined commercial strategy, allows the company to optimise benefits from the current market conditions, as exemplified by the recent award to supply 500kt urea to Ethiopia this quarter and in the second quarter this year at an average price of US$ 724/ton.
Ahmed El-Hoshy, CEO, Fertiglobe.
Dulsco opens state-of-the-art recycling plant unveiled in Dubai
n Dulsco recently commissioned its state-of-the-art Material Recovery facility in Dubai.
Located at Ras Al Khor, the new recycling processing plant has a capacity of 80,000 tonnes per year and is a key component of the company’s comprehensive environmental solutions offering.
Dulsco’s first manual sorting plant, with a capacity of 40 tonnes per day, was built in 2013 in support of the UAE’s mandate to reduce waste to landfills. However, the plant started exceeding capacity within a few years, necessitating the need for a new facility.
“This facility is not only enabling us to reinvent, reimagine, repurpose, and reuse our customers’ waste, but it is also helping us fulfil our commitment to Expo 2020 to help divert waste from landfill,” commented David Stockton, CEO, Dulsco.
The Material Recovery Facility is capable of sorting 240 tonnes of multiple waste streams per day. Waste is separated into different types of dry mixed recycling based on material type before going through various processes, depending on the type of waste.
For example, oversized elements are separated from the rest of the feedstock, with the remainder being segregated into different fractions and undersized materials. Product material then runs through a further separation process to recover metals.
Dulsco’s Environmental Solutions span the waste services domain, from community and industrial waste collection to recycling, medical and hazardous waste management.
Udrive gets fresh infusion of new investment
n Udrive, the UAE’s homegrown brand providing a payper-minute car rental service for UAE residents and tourists recently completed another strong funding round with strategic investments of US$ 5mn from Cultiv8 and Oman Holding International.
Known as the first technology platform in the GCC to offer car rentals by the minute, Udrive recorded strong growth in 2021, clocking two million trips to date, making it one of the largest rental booking platforms by transactions per car in the region.
The new funding was secured from Cultiv8, the government’s SME and startup investment arm.
“Mobility tech is one of the key investment sectors our technology fund focuses on, and UDrive perfectly fits the fund’s guidelines and the fund manager’s ambitions. With the newly formed board and management team we are excited for Udrive’s continued triple digit growth across the MENAT region during 2022,” noted Arif Alawi, CEO, Cultiv8.
Joining Cultiv8 in the funding round was Muscat-based Oman Holdings International, which owns Budget Oman and sees the future of mobility.
“We can expect to see radical shifts in how cars will be used both globally and regionally. Udrive presented their wellarticulated plan to achieve successful entry across new market making our decision easy to invest in Udrive,” commented Eihab Saleh, Oman Holdings International’s Director & CEO.
“We are digitizing mobility making it easily accessible to everyone. The recent funding secured will help us invest in new technologies as well as grow our offerings into the region this year,” stated Udrive CEO and co-founder Nicholas Watson.
Truck It In raises the largest seed round in MENAP trucking space
n Homegrown logistics tech start-up Truck It In has closed a US$ 13mn seed round jointly led by venture capital firms Global Founders Capital and Fatima Gobi Ventures. The seed round is the largest of its kind in the MENAP (Middle East, North Africa, and Pakistan) region, blowing out previous highs seen in 2021, which was already a banner year for Pakistani start-ups, the company revealed in a press communique.
The latest seed round brings the total raised capital to US$ 17.5mn, which will support Truck It In’s mission to transform Pakistan’s road freight industry.
Pakistan is one of the largest road freight markets in the Middle East and North Africa, representing a US$ 25bn annual opportunity, 10% of national GDP. Truck It In aims to be the nexus of road freight in the country by simplifying business for Pakistan’s three million SME businesses and SME truckers (80% of the supply market), who operate in an increasingly complex and deeply fragmented industry.
“This seed round comes at an opportune time, as the funds will be deployed to expand our business, driving hiring across all functions, focusing on engineers to help double down on product development and increase our digital penetration in the market,” asserted Muhammad Sarmad Farooq, CEO, Truck It In.
Truck It In is Pakistan’s fastest-growing road freight tech platform servicing clients across Pakistan. The company started operations in 2020 and aims to unlock more than US$ 1 billion for Pakistani businesses through its trucking platform, the press statement concluded.
L to R-Raza Afzal, Muhammad Sarmad Farooq and Haider Navid, founders, Truck In It.
NADEC transitions to renewable energy
n In line with the Kingdom of Saudi Arabia’s Vision 2030, NADEC, the country’s leading agricultural and food processing company and one of the largest in the Middle East and North Africa, together with the French energy company ENGIE, has announced that its solar energy project, located in NADEC’s Haradh industrial park, is now commercially operational since 22 December 2021.
The solar PV park was developed as part of a 25-year corporate power purchase agreement between NADEC and ENGIE, the first of its kind in the country.
The facility, located on an area of land spanning 766,000sqm, roughly equivalent to 21 football pitches, has a capacity of 30MW. With state-of-the-art technology, the solar PV park features 75,000 photovoltaic bifacial modules with single access trackers, string inverters, and fully automated robotic cleaning, helping boost their production capability and cost-efficiency.
“At ENGIE, we are delighted to announce that we have reached a new milestone on NADEC’s solar PV park as it becomes commercially operational. This is a significant achievement for the Kingdom as part of its drive to decarbonize the economy and make the shift toward a more sustainable future for all,” commented Turki Al Shehri, CEO, ENGIE, Saudi Arabia, speaking on the launch of the solar PV park’s commercial operations. The project is estimated to lower carbon emissions by 53mn kg annually.
IceWarp inaugurates new office in Dubai’s Business Bay
n IceWarp, a global leader in developing unified collaboration tools and messaging solutions for companies of all sizes, has consolidated its presence in the Middle East with the opening of its first office located in the prime area of Business Bay in Dubai. With a presence across 50+ countries, IceWarp provides businesses with affordable, seamlessly integrated, and easy-to-use communications solutions that cover all aspects of business collaboration and productivity.
With a capacity for over 20 people, the new office at the prominent location at Marasi Drive in Business Bay, puts IceWarp at the heart of the business hub in the city that will allow them to strengthen their position in the region and grow the presence of brand even further.
“It is a milestone moment for us at IceWarp as we take another step towards realizing our goals of expanding the company’s footprint in the MENA region,” affirmed Pramod Sharda, CEO, IceWarp India, and the Middle East at the inaugural ceremonies.
“We believe that our new office’s inauguration in Dubai’s Business Bay area surely reinforces our commitment towards the region as we look forward to providing seamlessly collaborated enterprise email solutions to organizations of all sizes residing in the Middle East and North Africa while creating opportunities for professionals,” he continued.
With over 50 million users worldwide, IceWarp’s stellar collaborative solution caters to companies of all sizes, that offer a supremely simplified ecosystem of email solutions that transforms how corporate teams share information and optimize business processes through its streamlined and seamless team collaboration tools. The continually intensifying move to and acceptance of remote and hybrid working scenarios since the pandemic first hit has made IceWarp’s interactive family of applications a highly sought-after solution.
IceWarp, an alternative to Microsoft 365 and Google Workspace, is a global leader for developing business email communication and collaboration solutions serving more than 50 million paid users and 50,000 customers worldwide across 50+ countries, a press communique concluded.
Hahn Air appoints Kirsten Rehmann as new CEO
n Hahn Air recently announced the appointment of Kirsten Rehmann (44) as its new CEO.
Rehmann joined Hahn Air in 2003 when the company was four years into its existence. Starting as a Sales and Marketing Executive, she quickly advanced within the company and became instrumental in driving the successful expansion of the Hahn Air ticketing business.
Over the years, she held various roles in different departments of Hahn Air and acted first as Director of Airlines Business Group and later as Chief Commercial Officer.
“I am looking forward to shape the next chapters of Hahn Air together with my team and
Kirsten Rehmann
build future-orientated distribution solutions and ticketing services for our airline and travel agency partners,” remarked Rehmann. “On behalf of Hans Nolte and myself, we are pleased to hand over the Hahn Air leadership to Kirsten Rehmann. Our teams and partners will benefit from her industry knowledge and leadership skills,” commented Nico Gormsen, Cofounder, Hahn Air. Rehmann holds a diploma in international business administration with the majors in tourism and travel. She also earned a Master’s Degree in Marketing and Distribution.
Prime Aquaculture partners with Jafza to build the region’s first Shrimp Ras Farm
n Prime Aquaculture, a subsidiary of Emirates National Aquaculture, recently signed an MoU with Jebel Ali Free Zone (Jafza) to build the region’s first Shrimp RAS farm.
The innovative marine shrimp farm, expected to be completed by Q1-2023, will aid in the cultivation of marine shrimp and significantly increase output in the UAE to meet the increasing demand.
The MoU was signed by Abdulla Bin Damithan, CEO and Managing Director, DP World UAE & Jafza and Imtiyaz Abdul Razak Kalsekar, Managing Director, Prime Aquaculture.
The facility will include a shrimp farm, hatchery, and primary and secondary processing units.
The UAE relies heavily on imports to cater to local shrimp demands, with more than 51,000 MT of shrimps being imported per year. The total local consumption of shrimps ranges between 38,000 and 40,000 MT, with pre-covid imports going up to 51,108 MT, and export and re-exports reaching up to 12,204 MT.
Prime Aquaculture will incorporate the latest technology in the shrimp farm to ensure that the highest quality of shrimps is produced. With the help of its Recirculating Aquaculture System (RAS) technology with a discharge of five to seven per cent, the farm will produce over 1,000 MT of shrimps per year, which is three times more than the current shrimp production in the UAE.
“The shrimp farms will maintain high-intensity culture systems ensuring absolute biosecurity,” remarked Bin Damithan.
“One of the key pillars for the UAE’s National Food Security Strategy is to achieve self-sufficiency. During the pandemic, when travel restrictions were imposed, the importance of local production was highlighted,” commented Kalsekar.
Jaguar Land Rover announces partnership with NVIDIA
Jaguar Land Rover has formed a multi-year strategic partnership with NVIDIA, the leader in artificial intelligence (AI) and computing, to jointly develop and deliver next-generation automated driving systems plus AI-enabled services and experiences for its customers.
Starting in 2025, all new Jaguar and Land Rover vehicles will be built on the NVIDIA DRIVE software-defined platform— delivering a wide spectrum of active safety, automated driving and parking systems as well as driver assistance systems.
Inside the vehicle, the system will deliver AI features, including driver and occupant monitoring as well as advanced visualisation of the vehicle’s environment, the manufacturer indicated via a press release.
This full-stack solution is based on NVIDIA DRIVE Hyperion, which features DRIVE Orin centralised AV computers; DRIVE AV and DRIVE IX software; safety, security and networking systems; plus, surround sensors. DRIVE Orin is the AI brain of the car and runs the Jaguar Land Rover Operating System, while DRIVE Hyperion is the central nervous system.
“Collaboration and knowledge-sharing with industry leader NVIDIA is essential to realising our Reimagine strategy, setting new benchmarks in quality, technology and sustainability,” remarked Thierry Bolloré, CEO, Jaguar Land Rover.
Thierry Bolloré, CEO, Jaguar Land Rover and Jensen Huang, CEO, NVIDIA.
“Next-generation cars will transform automotive into one of the largest and most advanced technology industries. Fleets of software-defined, programmable cars will offer new functionalities and services for the life of the vehicles,” commented Jensen Huang, founder and CEO, NVIDIA.
Jaguar Land Rover aims to achieve net-zero carbon emissions across its supply chain, products and operations by 2039, the company stated.
AD Ports Group acquires stakes in Aramex and NMDC
n AD Ports Group, part of ADQ, an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises, confirmed that it now owns stakes in two leading enterprises
AD Ports Group now holds a 22.32% stake in logistics firm Aramex and a 10% stake in UAE-based contractor National Marine Dredging Company, which specialises in engineering, procurement, construction and marine dredging.
“These two leading companies provide a strong strategic fit with AD Ports Group’s vision to develop the maritime and logistics industries across the region and globally,” stated Capt. Mohamed Juma Al Shamisi, Managing Director and Group CEO, AD Ports Group.
“Given the international scope of both Aramex’s and NMDC’s operations, we are confident that there will be significant opportunities for collaboration and growth when aligned with AD Ports Group’s diverse, integrated business model,” he added.
Hunter Foods plans expansion at National Industries Park
n Hunter Foods, the leading manufacturer of gourmet, ‘Better For You’ snacks with a presence in Dubai since 1985, recently signed an agreement with DP World’s National Industries Park (NIP) at the recently concluded Gulfood 2022.
The agreement was signed by Abdulla Al Jasmi, Head, NIP and Ananya Narayan, Managing Director, Hunter Foods, to build a new facility for the production of a wide range of gourmet and speciality snacks and foods on a 15,000sqm plot.
“NIP’s F&B segment has been growing since its inception. Our partners benefit greatly from the park’s modern infrastructure. Its centralised location and the multimodal connectivity offered by the Jebel Ali hub have helped companies gain access to the local market, the MENA region and beyond,” remarked Al Jasmi.
“As we now usher in a new era for the company, we are excited to continue our relationship with NIP by building the new state-of-the-art facility. We currently export to over 55 countries and hope to further expand our footprints around the world, in line with the vision of Dubai, UAE,” commented Narayan.
Spread over an area of 430,000sqm and employing over 2,000 professionals, NIP has been providing key UAE-based
Abdulla Al Jasmi and Ananya Narayan at the deal signing ceremony.
and global F&B companies and manufacturers with an integrated business ecosystem.
With a focus on customers, quality and innovation, Hunter Foods has a robust distribution in all major retail, wholesale, food service establishments and e-commerce platforms, in the UAE and GCC, and exports to countries in five continents, a press communique concluded.
TXAI completes successful Phase 1 trial
n Bayanat, a G42 company, and the leader in geospatial intelligence, data analytics and AI, has announced the successful completion of phase 1 trials of its first autonomous taxi service called TXAI.
As one of Bayanat’s key partners, WeRide, a global leader in Level 4 autonomous driving technologies, provides TXAI with its advanced full stack software and hardware solutions and stateof-the-art operating and monitoring systems.
Bayanat also worked closely with other key collaborators, Abu Dhabi Department of Municipalities and Transport, the Integrated Transport Centre and Miral Asset Management to run the operation.
Operated under full compliance of regulations, the public trials recently took place on Yas Island, with over 2,733 passengers booking the service through the TXAI app which could be downloaded through the Apple and Google Play Stores. Over 16,600 kms of autonomous driving was accomplished.
Bayanat is currently working closely with its partners and the UAE authorities to launch the second phase of the program, scheduled for mid-2022, which will include 10 TXAIs operating across numerous Abu Dhabi locations.
“We are committed to continuing to work closely with the UAE authorities to build innovative transport systems by making strategic investments across the smart mobility value chain,” commented Hasan Al Hosani, CEO, Bayanat.
“WeRide is very excited to work with Bayanat to bring industry-leading autonomous driving technologies and services to the UAE and the wider region. We are inspired by Bayanat’s commitment to building innovative transport systems. WeRide is dedicated to developing the best autonomous driving for all human beings,” remarked Tony Han, Founderr & CEO, WeRide.
Wizz Air Abu Dhabi expands in the Middle East
n Wizz Air Abu Dhabi, the ultra-low-fare national airline of the UAE, will add two new Jordanian destinations to its ever-growing list of routes. These are Amman and Aqaba in Jordan. “We will continue to add to our flight schedule and expand operations as travel restrictions begin to ease across the world – we’re looking forward to welcoming you onboard soon,” remarked Michael Berlouis, Managing Director, Wizz Air Abu Dhabi.
The airline has a young fleet composed of four brand new state-of-the-art Airbus A321neo aircraft, offering the lowest fuel burn, emissions and noise footprint. Wizz Air Abu Dhabi has the lowest environmental footprint among its competitors in the region, supporting the airline’s longterm commitment to sustainability, a press note concluded.
