Connect with us


Construction of Africa’s largest port begins



DP World has begun construction of Senegal’s Ndayane deepwater port, the Dubai-based company’s largest investment in Africa to date. The project will turn Senegal into a major trade hub and gateway to West Africa.

The start of construction of the new Port of Ndayane

DP World and the Senegal government have laid the first stone. To mark the start of construction of the new Port of Ndayane, the company said in a statement on Tuesday.

The investment of more than $1 billion in two phases to develop Port of Ndayane. However, It is also the largest single private deal in the history of Senegal, it said.

“With the Port of Ndayane, Senegal will have state-of-the-art port infrastructure that will reinforce our country’s position. As a major trade hub and gateway in West Africa,” Senegal’s President Macky Sall said.

“It will unlock significant economic opportunities for local businesses, create jobs, and increase Senegal’s attractiveness to foreign investors.”

ALSO READ: Some of the Gulf projects to open in 2022

The step follows the concession agreement signed in December 2020 between DP World and the Senegal government to build.

About the construction of the new port

It will operate a new port at Ndayane, about 50 kilometers from the existing Port of Dakar.

In an effort to tap into lucrative trade routes in Africa. Moreover, DP World has significantly expanded its footprint in Africa.

According to its website, the company has investments in Egypt, Algeria, Djibouti, Rwanda, Somaliland, Mozambique, and Senegal.

According to the company, the infrastructure project reflects growing partnerships between Dubai and the African markets. Above all, It aimed at supporting the development of the continent.

“We will bring all our expertise, technology, and capability to this port project.

In addition, The completion of which will support Senegal’s development over the next century.” said Sultan bin Sulayem, group chairman, and chief executive of DP World.

The first phase of the port development will include a container terminal with 840 meters of quay.

A new 5km marine channel designed to handle two 336m vessels simultaneously. Moreover, It is capable of handling the largest container vessels in the world.

To read more news, visit It is the most reliable platform that keeps you updated with all the latest news related to the Arab market worldwide.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.


EXPO 2020 Indian Pavilion to host function on Republic Day.



india republic day 2022 indian pavilion expo 2020

Singer Shweta Subram is going to perform in the EXPO 2020 Indian Pavilion. Expo visitors will see the significant function in Indian Pavilion.

indian pavilion expo 2020 dubai

Indian Pavilion EXPO 2020

73rd Republic Day kick started in EXPO 2020 Indian Pavilion. The flag ceremony done in the morning time at EXPO 2020. Diplomats and a few people were present in the morning for the ceremony. Function is organise at 9:30 pm at Indian Pavilion.

Dr. Aman Puri at EXPO 2020:

The consul general of India to Dubai, Dr. Aman Puri, hoisted the Indian tri-color at 7.30 am at Indian Pavilion. They were followed up by reading President Ram Nath Kovind’s message to the nation. 

In 1950 India got their laws after gaining independence in 1947. After 3 years of hard work, India got the most suited constitution, helping the nation run smoothly even after 75years.

India is the world’s biggest Democratic country bringing liberty, justice, and equality to all the people living in the nation. They believe that the world is one policy. Our brothers and sisters help everyone on earth stay with people in hard times. 

Today, India has made its name one of the most tolerant nations in the world. Peace comes first for India. The growth of India in the past few decades is impressive. Many top business tycoons today feel India is the biggest market in technology. 

Special performances by singer Shweta Subram will lighten up Indian Pavilion EXPO 2020. Performances of Shweta and Anupam Nair will start at 9:30pm. 

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

Continue Reading


Gold prices in Dubai UAE shine brighter, 24k Gold rates at Dh223.80 per gram.



gold rates dubai 2022 24k

Spot Gold prices in Dubai are hovering around $1846.90 from morning trade. Gold Prices in Dubai UAE are shining even brighter. Today’s 24k Gold rate in Dubai UAE is around Dh224 per gram.

Gold prices in the UAE rise

Gold prices in the UAE rise

Today on 26th Jan 2022, Gold prices in Dubai UAE are stable. The Ukraine issue creates lots of anxiety, and investors are heading towards favorite Gold once again. Today’s Spot gold rates are hovering around $1847 per ounce from morning trade.

Today we show a slight jump in gold prices. In the morning, trade gold rates moved to 0.50 per gram. It carried more than 0.50 Dirham in morning trade from yesterday’s close today. 

 Among the other unique metal variants, 22K opened at Dh210 per gram, 21K at Dh200.5, and 18K at Dh172.0 on Wednesday morning.

Experts believe Gold is stable, and it will do good till US Fed news are positive. Inflation and a few disputes can give rise to interest rates. Many experts believe Gold is growing due to investors feeling safe. Fear of the Fed will aggressively tighten policy, and few conflicts around will push Gold prices. 

North Korea Nuclear tests, Russia and US issues in Ukraine and Iran Nuclear talks will impact a lot to Gold prices in the coming time in 2022.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

Continue Reading


Dubai provides full support to financial markets for them to grow faster



The Dubai Mercantile Exchange

The Dubai Mercantile Exchange was able to gain the trust of major oil producers and solidify its position as the region’s most reliable source of oil pricing.

Sheikh Maktoum Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance. Stated that the Dubai government provided all necessary support for the growth of the Emirate’s financial markets by developing legislative framework. And infrastructure to allow exchanges to consolidate their presence regionally and globally.

During the meeting, Dubai provides full support he praised Dubai Mercantile Exchange (DME) for its achievements in the previous stage. Noting that the successful Exchange strategy contributed to the growth of trading volume and enhanced. Its ability to honor the steady growth of crude oil trading in the Middle East and Asia regions.

Sheikh Maktoum discussed with the DME board of directors the latest developments in the sector on the regional and international level. Particularly during the rapid changes experienced by the energy market and the significant growth opportunities that it offers.

Dubai provides full support to financial markets

Dubai provides full support to financial markets

He also reviewed DME’s qualitative achievements over the last period, noting that the number of companies using the exchange platform for physical delivery had reached 60. And the number of barrels of oil delivered through the DME mechanism had reached 2.5 billion barrels. In addition, according to the Oman Crude Oil Futures Contract, a total of 17 billion barrels were traded.

While 5.2 million barrels of oil are priced every day.

DME’s flagship contract is the Oman Crude Oil Futures Contract (DME Oman). Which provides the region’s most fair and transparent crude oil benchmark. Since 2018, DME Oman has been the clear and sole benchmark for approximately 170 million barrels of crude oil per month.

Since 2018, DME Oman has priced more than 170 million barrels of crude oil per month. Compared to around 30 million barrels per month before the switch by Saudi Arabia, Kuwait, and Bahrain. Because of the high quality of Oman Blend, which represents the majority of GCC crude oil grades. The contract is regard as the most reliable crude oil futures price benchmark.

DME is the Middle East’s first international energy futures and commodities exchanges operator. The US CFTC regulates the company as a recognized body by the DFSA, thus addressing the growing market want for price discovery of sour crude oil.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

Continue Reading


Copyright © 2021 Arab Market News