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DIGITALIZATION-
Maqta Gateway + Presight AI to deliver AI-driven trade and logistics solutions in the UAE: AD Ports Group’s Maqta Gateway has inked a partnership agreement with ADX-listed data analytics firm Presight AI to develop AI-powered digitized solutions for trade and logistics, according to a statement.
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What we know: Under the agreement, both parties commit to working exclusively together on the development and commercialization of artificial intelligence and data analytics solutions for trading in goods in the ports and maritime industries. The two parties are looking to leverage their combined strengths to “accelerate the pace of global trade transformation,” Maqta Gateway CEO Noura Al Dhaheri said.
TRADE-
AfDB giving Morocco’s BOA Group funds to support African trade: The African Development Bank (AfDB) has offered Morocco’s Bank of Africa (BOA Group) USD 78.3 mn (EUR 70 mn) to promote financing trade in Africa, Reuters reports. The funding should catalyze almost EUR 300 mn worth of trade over 3.5 years. The trade finance facility includes a Risk Participation Agreement (RPA) worth EUR 50 mn and a Trade Finance Line of Credit (TFLOC) amounting to EUR 20 mn.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Israel strikes Yemen port: Israel launched a strike on the port of Hodeidah in Yemen on Sunday in what it says is a response to Houthi missile attacks. (Reuters)
- Oman inaugurates new road project: Oman’s Transport, Communications, and Information Technology Ministry has inaugurated a road connecting Khazaen Economic City with Al Batinah Expressway over 7 km. (Statement)
