DP World has signed an agreement in Indonesia to advise on the development of two ports, strengthening the UAE’s position in the world’s largest Muslim country.
The port operator announced on Monday that it had signed a technical assistance contract with the Indonesian government to help develop the Kuala Tanjung greenfield port and logistics zone as well as the Belawan port, located in north Sumatra.
Sultan bin Sulayem, the DP World group chairman and chief executive, said the partnership would help to accelerate Indonesia's trade infrastructure development. "Our existing operations at Terminal Petikemas Surabaya give us an added advantage of understanding local and regional markets and we look forward to working with the Indonesian port authorities on developing international and domestic trade," he said.
In addition to sharing its experience, DP World will develop multi-modal transport hubs. The Dubai port operator will also review Belawan port operations to help to shore up efficiencies while looking for ways to cut costs to build the new kuala Tanjung port and logistics zone. The company said the agreement was expected to have a “far-reaching positive impact on the social and economic growth of the region”.
This deal comes after the Sunday announcement of a memorandum of understanding between the Abu Dhabi clean energy company Masdar and Indonesia's power company, Pembangkitan Jawa-Bali.
Trade between Dubai and Indonesia in the first quarter totalled Dh1.45 billion (US$394.8 million).
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Herc's Adventures
Developer: Big Ape Productions
Publisher: LucasArts
Console: PlayStation 1 & 5, Sega Saturn
Rating: 4/5
Iran's dirty tricks to dodge sanctions
There’s increased scrutiny on the tricks being used to keep commodities flowing to and from blacklisted countries. Here’s a description of how some work.
1 Going Dark
A common method to transport Iranian oil with stealth is to turn off the Automatic Identification System, an electronic device that pinpoints a ship’s location. Known as going dark, a vessel flicks the switch before berthing and typically reappears days later, masking the location of its load or discharge port.
2. Ship-to-Ship Transfers
A first vessel will take its clandestine cargo away from the country in question before transferring it to a waiting ship, all of this happening out of sight. The vessels will then sail in different directions. For about a third of Iranian exports, more than one tanker typically handles a load before it’s delivered to its final destination, analysts say.
3. Fake Destinations
Signaling the wrong destination to load or unload is another technique. Ships that intend to take cargo from Iran may indicate their loading ports in sanction-free places like Iraq. Ships can keep changing their destinations and end up not berthing at any of them.
4. Rebranded Barrels
Iranian barrels can also be rebranded as oil from a nation free from sanctions such as Iraq. The countries share fields along their border and the crude has similar characteristics. Oil from these deposits can be trucked out to another port and documents forged to hide Iran as the origin.
* Bloomberg
65
Directors: Scott Beck, Bryan Woods
Stars: Adam Driver, Ariana Greenblatt, Chloe Coleman
Rating: 2/5
TWISTERS
Director: Lee Isaac Chung
Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
The specs
Engine: 3.6-litre, V6
Transmission: eight-speed auto
Power: 285hp
Torque: 353Nm
Price: Dh159,900
On sale: now
States of Passion by Nihad Sirees,
Pushkin Press
