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.



Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
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Firm Dollar Keeps Pound, Euro and Yen Under Pressure

US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo
US Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/ File Photo

The US dollar charged ahead on Thursday, underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs.

The focus for markets in 2025 has been on US President-elect Donald Trump's agenda as he steps back into the White House on Jan. 20, with analysts expecting his policies to both bolster growth and add to price pressures, according to Reuters.

CNN on Wednesday reported that Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries. On Monday, the Washington Post said Trump was looking at more nuanced tariffs, which he later denied.

Concerns that policies introduced by the Trump administration could reignite inflation has led bond yields higher, with the yield on the benchmark 10-year US Treasury note hitting 4.73% on Wednesday, its highest since April 25. It was at 4.6709% on Thursday.

"Trump's shifting narrative on tariffs has undoubtedly had an effect on USD. It seems this capriciousness is something markets will have to adapt to over the coming four years," said Kieran Williams, head of Asia FX at InTouch Capital Markets.

The bond market selloff has left the dollar standing tall and casting a shadow on the currency market.

Among the most affected was the pound, which was headed for its biggest three-day drop in nearly two years.

Sterling slid to $1.2239 on Thursday, its weakest since November 2023, even as British government bond yields hit multi-year highs.

Ordinarily, higher gilt yields would support the pound, but not in this case.

The sell-off in UK government bond markets resumed on Thursday, with 10-year and 30-year gilt yields jumping again in early trading, as confidence in Britain's fiscal outlook deteriorates.

"Such a simultaneous sell-off in currency and bonds is rather unusual for a G10 country," said Michael Pfister, FX analyst at Commerzbank.

"It seems to be the culmination of a development that began several months ago. The new Labour government's approval ratings are at record lows just a few months after the election, and business and consumer sentiment is severely depressed."

Sterling was last down about 0.69% at $1.2282.

The euro also eased, albeit less than the pound, to $1.0302, lurking close to the two-year low it hit last week as investors remain worried the single currency may fall to the key $1 mark this year due to tariff uncertainties.

The yen hovered near the key 160 per dollar mark that led to Tokyo intervening in the market last July, after it touched a near six-month low of 158.55 on Wednesday.

Though it strengthened a bit on the day and was last at 158.15 per dollar. That all left the dollar index, which measures the US currency against six other units, up 0.15% and at 109.18, just shy of the two-year high it touched last week.

Also in the mix were the Federal Reserve minutes of its December meeting, released on Wednesday, which showed the central bank flagged new inflation concerns and officials saw a rising risk the incoming administration's plans may slow economic growth and raise unemployment.

With US markets closed on Thursday, the spotlight will be on Friday's payrolls report as investors parse through data to gauge when the Fed will next cut rates.