(MENAFN) The Libyan Oil Minister said that the country lost over USD7 billion as a result of strikes at oilfields and ports which significantly cut exports, The Peninsula reported. Also, Libya now faces fierce competition from Algeria and Nigeria in the Mediterranean oil market, and Libya is now searching for new markets in Asia. Oil output in the North African nation dropped from 1.4 million barrels per day (bpd) in July to 250,000 bpd, causing the country to lose nearly USD7.29 billion in oil revenue.
(MENAFN) Global aviation is expected to be led by the Middle East in the four coming years, as passengers to and from the UAE may increase 29.2 million, according to the National AE. The International Air Transport Association (Iata) reported that the Middle East has the strongest international passenger growth of 6.3 percent, in followed by the Asia- Pacific region of 5.7 percent. Tony Tyler, Iata"s chief executive, said: "The fact that the Asia-Pacific region, led by China, and the Middle East will deliver the strongest growth over the forecast period is not surprising. Governments in both areas recognize the value of the connectivity provided by aviation to drive global trade and development."
(MENAFN) Dubai"s Roads and Transport Authority (RTA) calls real estate companies to submit bids for building falts, offices, and blocks above Dubai's busiest metro station in Deira, according to the National AE. Public and private sectors and investors can partner in improving the two-level Union Metro station complex. A number of towers, which can extend over 19.000 square meters, can be built above the largest underground metro station complex in the world.
(MENAFN) Saudi cement companies' production fell by 17 percent last month reaching 3.65 million tons, down from 4.37 million tons in the same month last year, according to Arab News. Experts said that the fall in sales resulted from the correction campaigns carried out against irregular foreign workers. Only three companies among all cement companies in the Kingdom did not see a fall in sales, namely Northern Province Cement Company (NPCC), Arabian Cement Company (ACC) and Madinah Cement Company (MCC).
(MENAFN) The Royal Commission for Jubail and Yanbu (RCJY) calls businessmen on investing in Yanbu city in an organized workshop in Makkah, according to Arab News. The investment opportunities by the commission aimed to improve investment activities in the city, and to open the door for more investors. CEO Ala bin Abdullah Nasif said the workshop aimed to inform the delegates on the technical and administrative regulations and measures adopted by the commission.
(MENAFN) The Riyadh Dry Port plans to expand its handling capacity to reach 1 million containers annually to cover the volume of business and economic activities in Saudi Arabia, according to Arab News. Mohamed Al-Suwaiket, president of Saudi Railways Organization (SRO), revealed the announcement in the fourth Saudi Arabia International Transportation, Materials Handling, Warehousing and Logistics Exhibition and Conference (Saudi Transtec 2013). The SRO will invite specialized global firms to bid for a railway design within the GCC interlink rail project.
(MENAFN) Etihad Airways plans to add new flights to India, and take a 24 percent stake in Jet Airways, according to Gulf News. Flights to Mumbai, New Delhi, Kochi, Bangalore, Chennai and Hyderabad will be doubled, from 7 flights a week to 14. James Hogan, President and Chief Executive Officer of Etihad Airways, said: "Subject to receiving regulatory approvals, we will continue to expand our Abu Dhabi"India operations and work with our growing stable of partners to accommodate strong growth and deliver much greater choice for travel to and from India."