Karachi Port Trust (KPT) has secured its first major revenue stream. This is under a new concession agreement with Abu Dhabi Ports Group (AD Ports). As per the sources, a signing ceremony was held in the presence of the Maritime Affairs Minister. Here the AD Ports subsidiary, Karachi Gateway Terminal (KGTL), gave a check of […]
Karachi Port Receives $50mn Upfront Payment from AD Ports Group Read More »
Red Sea shipping is taking a hit. Shipping traffic through the vital Suez Canal artery in Egypt has plunged by 66%. Thus cargo was forced to divert due to attacks on vessels, according to official figures. The data, from the UK’s Office for National Statistics (ONS), covered the period from mid-December to the beginning of
Attacks on Red Sea Shipping Forces 66% Decline in Suez Canal Traffic – ONS Read More »
Recent statements by diplomats suggest that the 2024 BRICS summit will primarily focus on the de-dollarization agenda. The 2024 BRICS summit is scheduled to be held in Russia’s Kazan region in October. The 16th summit will see the addition of four new countries. Including the United Arab Emirates (UAE), Egypt, Iran, and also Ethiopia. Saudi Arabia could
De-Dollarization Main Agenda of BRICS 2024 Summit Read More »
Saudi Arabia took its Neom megaproject roadshow to China. This is amid speculation about the scope of the project and its finances. Neom megaproject officials visited Beijing, Shanghai, and Hong Kong last week. All in the hopes of courting Chinese investors and shed more light on the mysterious megacity. While no deals have been announced, one attendee told
Saudi Arabia Wants China To Help Fund Its Struggling $500 Billion Neom Megaproject Read More »
A new laser-based propulsion technology developed by researchers at China’s Harbin Engineering University. Could one day help the People’s Liberation Army (PLA) build quiet, ultra-fast submarines? According to a report by the South China Morning Post (SCMP). The technology could also power underwater missiles and torpedoes. The concept of underwater laser propulsion is not new.
New Laser Propulsion Could Power Silent Yet Supersonic Chinese Submarines Read More »
LISBON, April 21 (Reuters)—Galp Energia, the Portuguese oil company, has made a significant stride in the oil and gas industry. On Sunday, it announced the successful ending of the first phase of exploration in the Mopane field off the coast of Namibia. The company estimates a potential reserve of at least 10 billion barrels of oil. A
10 Billion Barrels Of Oil Discovered Off Namibia’s Coast Read More »
HD Hyundai is taking things to new heights. South Korea’s Busan New Port has extended its capacity by launching a seventh container terminal. The terminal’s opening ceremony on Friday was attended by President Yoon Suk Yeol. The leader has lauded the facility as a milestone in turning Busan Port into a world-class smart port. Also,
HD Hyundai Unveils a New R&D Center for Green Ship Technology Read More »
The Danish frigate’s Ivar Huitfeldt is on her way home early from her air-defence mission in the Red Sea. While in the theatre, the warship shot down four Houthi drones. According to Danish outlet Olfi, her commander was concerned about her ability to shoot down too many more. The paper obtained a message from the Huitfeldt commanding
Report: Danish Frigate’s Weapons Malfunctioned During Houthi Drone Attack Read More »
As the amphibious combat vehicle (ACV) enters the production and delivery phase. The U.S. Department of Defense (DoD) will consider additional items from subcontractors to increase the cumulative value of the framework. The Department of Defense first ordered this platform in June 2018. Since then, additional units and new variants have been incorporated into the
US DoD Expands Acv Contract To Provide For Additional Line Items Read More »
In its new Russia Macroeconomic Outlook released on April 2, 2024. Global Data Intelligence predicts that Russia’s growing war economy will cause so-called “special military operations” in Ukraine to double. In November 2023, Russian President Vladimir Putin agreed to a significant increase in military spending. The proposed budget allocates about 30% of tax spending in 2024
Russia’s War Economy Continues To Mobilize Further In 2024 Read More »
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