Agility profit up 12.2pc
GULF logistics leader Agility has reported a 12.2 per cent rise in Q2 net profit. The net profit was KD12.9 million dinars ($45.54 million), up from KD11.5 million dinars in the same period a year ago.
The firm said it remains suspended from bidding for new contracts with the US government pending the resolution of court cases the US has filed against Agility.
The two parties are in settlement discussions, the company said.
Agility was a major supplier to the US Army in the Middle East.
In July 2011, a US appeals court ruled against an attempt by the logistics firm to avert prosecution over charges it defrauded the US Army in multibillion-dollar contracts
2022 date for metro
THE Jeddah Metro project, costing about SR45 billion ($11.9 billion), will be ready by 2022, media reports say.
“The project aims to cover 30 per cent of the city’s traffic,” Osama Ibrahim Abdu, CEO of the metro company, was quoted as saying in a news report.
“At present, public transport represents only 2 per cent of the total traffic volume in the city, which is witnessing a large number of development projects.”
The metro will have three main lines and work on the project will begin in 18 months after designs are drawn and land is acquired.
Etihad Cargo’s Moscow link
ETIHAD Cargo, the freight business of Etihad Airways, will launch twice weekly freighter rotations linking Abu Dhabi and Moscow Domodedovo airports.
The dedicated cargo service will operate every Wednesday and Friday using an Airbus A330-200F freighter with capacity of 64 tonnes.
Transport body revenues up
EMIRATES General Transport and Services Corporation recorded Dh1.5 billion ($408.3 million) in total revenues last year, maintaining an annual growth rate of 18 per cent over the past five years.
The corporation has 800 clients and has signed 218 new major contracts and investment agreements with strategic partners, says an Emirates News Agency (WAM) report.
Bahrain deal for Beontra
BAHRAIN Airport Company (BAC), the manager and operator of Bahrain International Airport, has signed a deal with Beontra, a Lockheed Martin company, for the implementation of its cutting-edge route analysis tool B Route Development.
With air travel expected to rise 5.8 per cent over 2014, the technology will allow BAC to calculate, analyse and present route cases to airlines, while being able to re-calculate and amend on-demand.
Mohamed Yousif AlBinfalah, CEO, BAC, said the partnership would help BAC bcome a friendly and efficient airport.
Trams launch date fixed
DUBAI’s new tram system will be officially launched on November 11, it was revealed following the start of a trial operation.
The trial run was launched by UAE Vice President and Prime Minister and Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum. The Dubai tram system is the first tramway project outside Europe to be powered by a ground-based electric supply system along
the track.
Plans for Kuwait metro
THE planned Kuwait Metro project will have 61 stations on three railway lines covering all areas and governorates of the country.
Work on the $20-billion metro project is expected to be started in 2017.
It will be implemented on a public-private partnership basis.
The first railway line will cover 23.7 km starting from Salwa area and ending at Kuwait University, passing through 19 stations. The second line will cover 21 km from Hawally to Kuwait City, 27 stations. The third will be 24 km long, from the airport to the Abdullah Al Mubarak area, 15 stations.
Pre-qualified for railway
EIGHTEEN consortiums have been pre-qualified for civil work and another five for other work on the 2,244-km-long Oman national railway project.
Construction work is expected to start by the first quarter of 2015, after a design-and-build contractor is selected for the first segment. The railway is expected to be operational by 2018.
