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  • News: Etihad Rail secures US$1.28bn funding package

    Etihad Rail has announced it has secured financing of US$1.28 billion for Stage One in all its railway project, which comprises the route from Shah and Habshan to Ruwais.

    Commenting at the completion of financing for the primary stage of the project, H.E. Nasser Alsowaidi, chairman of Etihad Rail said: “The securing of this loan not just represents the start of a brand new era for the UAE in trade and travel through a transportation network with the intention to connect all seven emirates with our GCC partners, but additionally reflects the international financial community’s confidence in Etihad Rail and the numerous potential of the UAE’s national railway.”

    The five-year loan could be financed on a club deal basis by National Bank of Abu Dhabi PJSC, Bank of Tokyo-Mitsubishi UFJ, Abu Dhabi Commercial Bank and HSBC Bank Middle East Limited, with NBAD acting as both the power and security agent of the loan.

    Initial financing plans for the primary stage of the project were originally approved by the United Arab Emirates’ Federal Cabinet in early 2012, and similarly authorised by the Abu Dhabi Executive Council.

    Commenting on behalf of Etihad Rail, Nasser Saif Al Mansoori, chief executive of Etihad Rail said: “This loan is a further indicator of the numerous progress being made at Etihad Rail.

    “With the new arrival of our wagons, the considerable headway being made in construction on Stage One, and as we glance forward to the advent of our locomotives later this quarter, Etihad Rail is on schedule to seeing the primary train run from Habshan to Ruwais by the tip of this year.

    “We sit up for working with our banking partners as we develop this landmark project for the UAE, and appreciate the efforts of the Abu Dhabi National Oil Company and the substantial role the corporate played in helping to secure this loan.”

    Stage Among the Etihad Rail network will extend 264 km from Shah and Habshan to Ruwais, facilitating a contemporary, safe, efficient and environmentally friendly means to move ADNOC ‘s shipments of granulated sulphur for export on the port of Ruwais.

    Etihad Rail received its first shipment of wagons for Stage One in December last year, and can receive its first shipment of locomotives this quarter, while construction works at the route are well underway.

    Upon completion, the UAE’s national railway network will span approximately 1,200 km around the Emirates, boosting economic growth by connecting key centres of industry and population, and sustaining trade and social development.

    The Etihad Rail network can even form an essential component of the GCC railway network.

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  • IHIF: Johannesburg Tourism arrives in Berlin

    Joburg Tourism is at it again. So as to promote tourism investment opportunities within the city, MMC Ruby Mathang is leading a delegation to Berlin where the town of Gold would be participating within the 16th International Hotel Investment Forum.

    “As the city’s leadership, we recognise that tourism is a vital economic growth imperative and a fantastic catalyst for building a colourful city.

    “We also appreciate our role to create an enabling and supportive environment wherein the non-public sector can thrive and feel confident to speculate within the tourism sector and create new and plenty-needed jobs,” explained Mathang. 

    “The City of Johannesburg’s leadership is therefore committed to offering a favourable climate for investors, creating opportunities and offering incentives as a way to make this city an engaging destination for them.”

    Following on from the International Hotel Investment Forum, the Joburg Tourism team will then be participating inside the annual ITB, one of the most world’s leading travel trade shows, to be able to be happening in Berlin from March 7th-9th. 

    Joburg Tourism’s participation in international trade shows forms portion of its way to maintain and increase Johannesburg’s market share in both the business and leisure travel arenas. 

    “As ITB is likely one of the largest global platforms for the leisure travel market, we can once more be presenting Joburg’s position as a colourful, cosmopolitan all year round destination for business, leisure and lifestyle, using the chance to launch our Autumn Campaign, entitled “Explore Experience Enjoy Joburg q4,” added Phelisa Mangcu, acting chief executive, Johannesburg Tourism.

  • News: Air Lease Corporation places $3.2bn Boeing order

    Boeing and Air Lease Corporation have announced an order today for ten 777-300ERs (extended range) airplanes.

    The order, worth $3.2 billion at current list prices, adds to the growing portfolio of long-haul airplanes for the l. a.-based leasing company.

    “This order for 777-300ERs might actually help us meet the growing airline demand for long-haul passenger airplanes,” said John Plueger, president and chief operating officer of Air Lease Corporation.

    “These 777-300ERs will enable our customers to grow and modernise their fleets.

    “The 777 offers our clients probably the most economical, fuel-efficient and flexible airplane within the 300-400 seat range, suitable for a whole lot of profitable missions.”

    ALC has ordered 185 airplanes from Boeing including 78 Next-Generation 737s, 80 737 MAXs, 12 787 Dreamliners and 15 777-300ERs.

    The leasing company also has reconfirmation rights on 20 additional 737 MAX airplanes.

    “Air Lease Corporation has established itself as a pacesetter within the leasing industry by assembling a various fleet of recent, economical and fuel efficient airplanes,” said John Wojick, senior vp of world sales for Boeing Commercial Airplanes.

    “With the 777-300ER order, ALC continues to illustrate confidence within the airplane and the price it provides to its customers.”

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  • Sydney becomes more appealing destination for business events

    New South Wales has had one in every of its most successful business events years ever, hosting 91 events worth almost $220 million to the State’s economy, Minister for Tourism and Major Events, George Souris, announced today.

    “I am particularly buoyed to work out that regional areas of NSW also are major beneficiaries of industrial events last year and i’m encouraged by Business Events Sydney (BESydney) reporting that NSW’s regions were enjoying increased opportunities for hosting national and international business delegates.

    Business Events Sydney is a not-for-profit, independent proprietary company.

    “The NSW Government is committed to expanding some great benefits of business events to the regions by enacting a recommendation of the Visitor Economy Taskforce so one can see the advance this year of an integrated Regional Conferencing Strategy led by Destination NSW and Business Events Sydney.

    “Destinations equivalent to the Hunter Valley, Blue Mountains and Wollongong have traditionally been key markets for incentive and reward trips, however the growing sophistication of regional facilities and the cultivation of specalised knowledge hubs are making these destinations increasingly more appealing to the conference and association market.

    “Whether it’s rural health in Newcastle, organic horticulture at Bathurst or fisheries at Port Stephens, association clients embrace the chance to take visiting delegates to the coal face to have interaction and collaborate at regional research centres and data hubs and undertake technical tours of those specialty areas,” Mr Souris said.

    Mr Souris mentioned that last year saw 60,237 delegates come to Sydney for a complete of 244,453 delegate days, many visiting regional areas and spending time there…and this year is asking much more promising.

    “2013 has only just begun, but already BESydney has secured a robust line-up of events for the town, drawing thousands of tourists which are keen to experience one of many world’s most unforgettable destinations first hand.

    “So far, 64 events will attract greater than 50,000 business visitors to NSW with an estimated economic impact of $167.1 million to the State.   

    “Among the secured events for 2013 is the LG Group’s annual incentive program, for you to be held in Sydney for the third time. 930 selected LG staff from Korea will travel to Sydney in waves of fifty – 70 delegates at a time to enjoy a fun-filled itinerary, including visits to the Blue Mountains, sand boarding in Port Stephens and, obviously, tours of Sydney’s famous landmarks.

    “Wollongong and the Illawarra have also reaped the advantages of the Government’s efforts, along with BE Sydney and Destination NSW. Wollongong played host to the 15th International Conference on Advances in Materials and Processing Technologies (AMPT) for 300 delegates in September 2012 and may host 400 delegates for the IEEE/ASME International Conference on Advanced Intelligent Mechatronics in July 2013.

    “The intellectual capital of the award-winning University of Wollongong has helped to draw a various array of leading business events and that momentum is determined to continue.

    “The Hunter Valley is another destination to learn with the ideal China Leadership Seminar bringing greater than 3,000 delegates to the region in July adding millions of bucks to the local economy.

    “Many of the regions of NSW have their very own unique products, expert suppliers and natural assets to provide the business events market. BESydney and Destination NSW will develop strategies to counterpoint and enhance the opportunities for regional business, institutes and universities to tap into the business event market. The long run for business events in Sydney and NSW is bright,” Mr Souris said.

    Mr Souris congratulated BE Sydney for its success in helping to continue to draw a record number business events to NSW.

    Lyn Lewis-Smith, CEO of BESydney, said last year’s success can be attributed to BESydney’s expert team and long-term client relationships.

    “Critical to this success is the dynamic business environment and innovative researchers based in our State,” she said.

  • News: oneworld members elected to hitch Global Explorer

    oneworld members elect Qatar Airways and SriLankan Airlines are to take part within the Global Explorer round-the-world fare offered by all of the alliance’s members and selected other carriers.

    The move represents a primary step by both airlines towards their implementation into oneworld, that’s on target for the year ahead – once they will start participating within the full range of the alliance’s fares and offering all its other services and benefits. 

    Their oneworld joining dates may be announced in the end, the organisation said in an announcement.

    Meantime, Qatar Airways’ entire global network, covering 125 destinations in 71 countries worldwide from its Doha hub, and SriLankan’s entire global schedule serving 32 airports in 22 countries will both now feature as portion of Global Explorer, that is probably the most popular round-the-world fares available.

    The Gulf carrier adds four countries to the map served by Global Explorer – Iran, Mozambique, Rwanda and the Seychelles – and 17 more destinations around the Indian sub-continent, the center East and Africa, including India’s Amritsar, Goa and Kochi and Tanzania’s Kilimanjaro. 

    It also significantly expands the routing alternatives available through Global Explorer, by adding direct connections between hundreds of city pairs, chiefly between Asia and Africa or southern Europe.

    SriLankan connects one destination to the worldwide Explorer map, India’s Tiruchchirappalli, while also adding more routing options, mainly in South Asia, where it’s not only the flag carrier of Sri Lanka but additionally the leading international airline serving the Maldives and likewise has an important presence in Southern India.

    As Qatar Airways and SriLankan Airlines start participating in Global Explorer, Gulf Air withdraws its participation.

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