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Qatar Navigation profit dips 12%
Qatar Navigation has reported a 12% drop in its net profit to QR429.77m in the first nine months of this year, on declining operating income and net interest and investment earnings, Gulf Times has reported. Gross profit fell 15% to QR268.35m as operating revenues fell faster than expenses. Operating revenues dropped 11% to QR878.83m and operational expenses by 9% to QR610.48m, the company said.
Abu Dhabi metro phase 1 to be ready in 2015
A senior official of the Abu Dhabi Department of Transport said the emirate plans to have the first segment of its metro rail line operational by October 2015. Speaking at a Meed conference, Dr Abdul Gader Al Shabani, Senior Transportation Planning Specialist, told delegates the feasibility study to build a metro in Abu Dhabi would begin in November and last 21 months.
Union Rail to award bids
The UAE's Union Railway Company will begin to award contracts to build the country-wide rail network in early 2010, HE Hussain Al Nowais Chairman of the group told delegates at Meed's Middle East Rail Conference this morning. The Dhsd30m project will connect the emirates of the UAE as well as joining rail networks in Oman and Saudi Arabia.
Dubai to study taxi scheme
A 10-year plan, being put together by consultants Booz & Co, would see changes made to Dubai's taxi service throughout 2010, including an increase in the estimated 7,600 vehicles currently on the road, The National has reported. Mansoor Rhama al Falasi, acting director of the franchising and enforcement department at the Public Transport Agency has said that the study will cover the supply and demand for the sector until 2020 and will look at the regulations, rules, and operational plans for franchise companies.
Drydocks World sets up in Abu Dhabi
Drydocks World has announced the establishment of its representative office in Abu Dhabi, inaugurated on the sidelines of the Middle East Workboats Exhibition. The unit will be headed by Adel Al Rustamani - Manager, Public Relations of Drydocks World - Dubai.
Suez Canal revenues fall 19%
Revenues of Egypt's Suez Canal had dropped 18.5% to $382.5m in September, compared to $469.6m in the same month last year, but were up from $371.8m in August, Reuters has reported. The number of vessels using the waterway was 1,454 in September down from 1,872 in September 2008 and little changed from 1,453 in August.
Oman to launch rail tender in December
According to a Tender Board official in Oman, the Sultanate plans to invite bids in December for the construction of a 230 km railway, part of a planned Gulf Arab network valued at up to $25bn, Reuters has reported. A tender for a second phase will be issued next year, the official said. 'The third phase, which is under study, will involve a railway network construction from the south of Oman to Yemen, expected to be tendered out in 2010,' he added.
DP re-operates Aden Container Terminal
Dubai Ports World (DP World) has said it has re-operated the Aden Container Terminal, after being hit in late September by torrential rains and gusting winds, WAM has reported. During that period, ACT had received only fifteen container ships, half of the usual monthly capacity.
Ajman launches bus inspector campaign
An a joint effort by police and the Emirates Transport Corp, 72 men and women employed as supervisors began riding school buses this week to improve safety for pupils, The National has reported. The campaign covers more than 100 school buses that carry 11,000 private and state school pupils. The agencies plan to have a supervisor in every school bus by next year, Abdul Aziz al Suwaidi, head of the safety section at Emirates Transport said.
Momentum Logistics wins UASC contract
UAE-based Momentum Logistics, a subsidiary of international port management company, Gulftainer, has signed a contract with United Arab Shipping Company (UASC) to provide the company with logistics services. Under the agreement, Momentum will provide UASC with dedicated warehouse space and other logistics services, in addition to their regular business at the company's container repair and washing facilities.
Nakilat receives LNG carrier
Qatar Gas Transport Company (Nakilat) has taken delivery of the world's largest and most advanced Q-Flex LNG carrier, which is chartered to Qatar Liquefied Gas Company IV (QG4). The 'Al Karaana' (210,000 CBM) will be used to ship LNG produced by QG4, to markets primarily in North America.
UAE rail project to begin by end 2010
Hussain Jasem Al Nowais was appointed as chairman of Etihad (Union) Railways Company, the UAE railways company recently founded with Dhs1bn capital, WAM has reported. Al Nowais has revealed the national rail project will have an initial estimated cost between Dhs25-30bn. The railway line will be constructed at a total length of 1100km, connecting Ghuwaifat boardering Saudi Arabia to the west and the border points with Oman to the east.
Oman sets aside OR119m for airport, port development
Oman's economy minister, Ahmad Mekki has said that the Sultanate plans to spend OR119m on expansions of the Salalah airport and sea port, Reuters has reported. The extension of the Salalah airport, which currently handles only domestic and regional flights, will cost OR91m and aims to expand it into an international airport. Bechtel, India's Nagarjuna, and a Turkish joint venture of CCC and TAV Construction are among firm which made bids for the tender for the expansion of Salalah airport last month. The Salalah port upgrade, including the constructions of four berths and a goods terminal, is valued at OR28m and will expand its capacity by 20%, he said.
Abu Dhabi considers Japanese traffic model
Abu Dhabi is looking at introducing the Japanese traffic model in an effort to reduce traffic jams in the emirate, especially during accidents, Khaleej Times has reported. Colonel Hussein Ahmed Al Harethi, Director of Road Engineering and Safety at the Abu Dhabi Police, said the Japanese system is effective in dealing with both the motorists and pedestrians in cases of accidents. 'The system rests on a specific plan for roads and intersections where pedestrians and vehicles alike are redirected, effectively reducing the impact of disasters,' he said.
GAC expands operations in Dubai
Dubai-based shipping, logistics and marine services provider GAC has expanding the company's facilities in Jebel Ali Free Zone's south zone to more than 160,000 sq.m by acquiring a 42,000 sq.m warehouse. GAC's facility in JAFZA is one of the group's largest worldwide and its logistics centre there is the region's biggest.
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