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UAE's Etihad Rail Connects Vital Freight Terminal to Network’s Main Line

The new line extends from the borders of Saudi Arabia to the port of Fujairah, on the eastern coast, passing through key manufacturing hubs and urban centers. (WAM)
The new line extends from the borders of Saudi Arabia to the port of Fujairah, on the eastern coast, passing through key manufacturing hubs and urban centers. (WAM)
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UAE's Etihad Rail Connects Vital Freight Terminal to Network’s Main Line

The new line extends from the borders of Saudi Arabia to the port of Fujairah, on the eastern coast, passing through key manufacturing hubs and urban centers. (WAM)
The new line extends from the borders of Saudi Arabia to the port of Fujairah, on the eastern coast, passing through key manufacturing hubs and urban centers. (WAM)

UAE's Etihad Rail said it successfully completed the connection process between the railway freight terminal at the Industrial City of Abu Dhabi (ICAD), the largest inland freight railway terminal in the country, and the UAE National Rail Network.

This achievement comes in line with the goals of the UAE Railway Program, which is the largest integrated system for transporting goods and passengers across the country.

The program aims to connect the country’s key centers of industry and production, open new trade routes and facilitate population movement, state new agency WAM reported.

Upon the completion of Stage Two of the UAE National Rail Network, Etihad Rail will provide logistics solutions from the railway terminal, which is located at the heart of the Industrial City of Abu Dhabi, burgeoning hub of industrial companies in the area.

Executive Director of Rail Relations Sector at Etihad Rail Mohammed Al Marzouqi said: "Connecting the railway freight terminal at ICAD with Etihad Rail’s main line ensures our readiness to start providing our clients with logistics solutions by linking Abu Dhabi with various industrial centers and import and export points.:

"Our network will have a positive impact on end users, as it will contribute to reducing trucks on roads and bring down their maintenance costs," he added.

Etihad Rail is constructing the largest inland railway freight terminal in the UAE in ICAD, spanning just over 2.7 million square feet, the new railway freight terminal at will comprise over 22 buildings and major structures to support operations, processing up to nine trains each day.

It will facilitate the distribution of goods across the countries of Gulf Cooperation Council (GCC) and UAE.

The development of the ICAD railway freight terminal features as a part of Stage Two of the UAE’s national railway network.

The historic project extends from Al on the borders of Saudi Arabia to the emirate of Fujairah, on the eastern coast. Upon completion, Stage Two of the GCC’s railway network will integrate the nation’s ports, manufacturing hubs, and urban centres.

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Turkish Central Bank Sets New Interim Targets for Inflation

FILE PHOTO: Skyscrapers are seen in the business and financial district of Levent, which comprises of leading Turkish banks' and companies' headquarters, in Istanbul, Türkiye, May 30, 2025. REUTERS/Murad Sezer/File Photo
FILE PHOTO: Skyscrapers are seen in the business and financial district of Levent, which comprises of leading Turkish banks' and companies' headquarters, in Istanbul, Türkiye, May 30, 2025. REUTERS/Murad Sezer/File Photo
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Turkish Central Bank Sets New Interim Targets for Inflation

FILE PHOTO: Skyscrapers are seen in the business and financial district of Levent, which comprises of leading Turkish banks' and companies' headquarters, in Istanbul, Türkiye, May 30, 2025. REUTERS/Murad Sezer/File Photo
FILE PHOTO: Skyscrapers are seen in the business and financial district of Levent, which comprises of leading Turkish banks' and companies' headquarters, in Istanbul, Türkiye, May 30, 2025. REUTERS/Murad Sezer/File Photo

Türkiye's central bank announced interim targets for inflation in a new communication strategy on Thursday, setting a target of 24% for end-2025 and 16% for end-2026.

Presenting the bank's quarterly inflation report in Istanbul, Governor Fatih Karahan said inflation was currently projected to be between 25% and 29% in 2025 and between 13% and 19% in 2026.

"We have decided to change the framework for presenting medium-term forecasts," Reuters quoted Karahan as saying. "We will present 'interim targets' that will not be changed unless extraordinary circumstances occur between report periods."

"The 'year-end interim targets' will serve as a commitment and anchor," he said.

Last month, Türkiye's central bank cut interest rates by 300 basis points to 43%, resuming an easing cycle that had been disrupted by political turmoil earlier this year, as markets have since calmed and disinflation continued.

Annual consumer price inflation fell to 33.52% in July, sustaining a downward trend after hitting a peak of 75% in May last year.

The bank was keeping its 24% end-2025 inflation forecast as its interim target for the year, with interim targets of 16% and 9% set for 2026 and 2027 respectively, Karahan said, adding that forecasts will continue to be announced in inflation reports.

"Interim targets will serve as a reference in determining the endogenous monetary policy path, ensuring that inflation converges to the interim targets within the control horizon," he said, noting that this period was between 12 and 24 months.

He said the bank foresees inflation stabilizing at 5% in the medium term.

"During the disinflation process, we will maintain our tight monetary policy stance to achieve our interim targets," he said.

The lira was little changed at 40.79 against the dollar after the report's release.

Before last month's rate cut, the bank had hiked its policy rate to 46% from 42.5% in April, reversing an easing cycle that had begun in December, following market volatility over the arrest in March of Istanbul Mayor Ekrem Imamoglu, who is President Recep Tayyip Erdogan's main rival.