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DATA CENTERS-
US-based financial management solutions firm Kyriba is opening a data center in Saudi Arabia in 1Q 2025, according to a statement. This data center will improve the performance and reliability of Kyriba’s solutions, minimizing latency and ensuring that data stays secure within the region, the statement said. Neither the investment ticket nor the size of the data center have been disclosed.
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What does Kyriba do? The firm offers intelligent financial automation that helps companies and banks of all sizes enhance their financial performance and boost operational efficiency, according to the statement. With real-time data and AI-driven tools, Kyriba enables nearly 3k customers globally to assess risks, forecast cash and liquidity, and implement strategies to safeguard their balance sheets, income statements, and cash flows.
ZONES-
#1- Leoni Egypt to build EUR 40 mn cable factory in Robbiki City: Cairo Development Investment Company (CDICO) has inked a EUR 40 mn agreement with Wire systems manufacturer Leoni Egypt for the development of a 13k sqm factory for electrical cable production in Robbiki Industrial City, according to a statement. The factory, which will produce for export as well as the local market, is forecasted to be completed and operational within one year. Leoni Egypt initially announced plans to open the cable manufacturing factory in Robbiki back in July.
Boosting trade: Leoni looks to use the new facility to increase its export volumes from Egypt by some 50%, amounting to EUR 240 mn annually. The facility is expected to generate around 3k direct and indirect jobs.
#2- Egypt to build USD 60 mn freezone for linen and textile production: The Egyptian cabinet approved a decision to set up a USD 60 mn freezone for the production of linen in Sadat City — dubbed Kingdom Linen, according to a statement. The entirety of the zone’s production will be exported and products will have a local component of no less than 30%.
AVIATION-
Dnata makes moves to reduce carbon footprint at Heathrow: Dubai-based air services provider Dnata’s heavy goods vehicle (HGV) fleet at London Heathrow Airport, comprising 70 trucks, is now operating on hydrotreated vegetable oil (HVO), according to a statement. The initiative — which is in line with the Dubai-based group’s plan to cut its carbon footprint by 50% by 2030 — is expected to reduce the fleet’s carbon footprint by 77% and cut CO2 emissions by over 2.4k tonnes a year.
EQUIPMENT-
Oman’s Salalah Port buys four new cranes: APM Terminals-operated Salalah Port in Oman has received four new hybrid rubber tyred gantry (hRTG) cranes equipped with regenerative energy systems to boost cargo handling capacity at the port, according to a statement. The cranes consume less fuel than conventionally powered RTGs, while still offering full lifting and driving power with quicker turnaround times for container handling. Eight more cranes are slated for delivery.
OTHER STORIES WORTH KNOWING THIS MORNING-
- Emirates serves Riyadh with refurbished Boeing 777: Emirates has launched a daily flight route using a refurbished Boeing 777 from Dubai, the UAE to Riydah, KSA. (Statement)
- DP World expands fleet: DP World has added two new container vessels, the Navios Utmost and the Navios Unite, to its subsidiary Unifeeder’s short-sea shipping service. (Port News)
- Port Tawfik welcomes tugboat: Port Tawfik has welcomed the New Safaga1 marine tugboat to its fleet on Wednesday. The vessel was built by the Egyptian Ship Repairs and Building company. (Al Mal)
