MEED
Dominic Dudley

Deputy Editor

Qatar's debt build-up raises concerns

Issue 20 18-24 May 2012
Qatar has accumulated large debts in recent years. Its strong economy means few are worried, but could Doha be storing up problems for the future?
Oil prices hide fiscal vulnerabilities

Issue 17 27 April-3 May 2012
Relying on high oil prices could cause problems in the future for producing countries
Telecommunications Company of Iran

Issue 16 20-26 April 2012
The telecoms firm’s future growth will depend on its ability to compete in the mobile sector
Telecommunications Company of Iran: MEED Assessment

Issue 16 20-26 April 2012
TCI could find ample room for growth in its domestic market in the future
Border delays hit industrial park in Jericho

Issue 14 6-12 April 2012
An agro-industrial park in Jericho could provide a template for reviving the West Bank economy, but access rights from the Israeli government will be critical to the success of the scheme
West Bank to get first solar power plant

27 March 2012, 9:27 GMT
Japanese-funded solar power scheme to provide energy to Jericho industrial park
Consumer confidence high in Beirut

Issue 13 30 Mar-5 April 2012
Despite living in a turbulent political and economic environment, Lebanese people are surprisingly upbeat
Kuwait's non-oil sector continues to disappoint

Issue 12 23-29 March 2012
The biggest challenge facing Kuwait as it looks to invigorate its non-oil economy will be building political consensus between the executive and parliament
Doha prepares for slower growth

Issue 10 9-15 March 2012
Profit from gas exports will ease in Qatar this year, but few are worried in the Gulf state as its recent boom should help cushion the blow
Staving off protests in Saudi Arabia

Issue 51 23-29 December 2011
Saudi Arabia has witnessed low-level demonstrations throughout the year. The authorities have responded by toughening legislation
Khatam al-Anbia Construction Base

Issue 50 16-22 December 2011
Sanctions have benefited the growth of the Revolutionary Guards subsidiary
Trapped in Hariri’s shadow

Issue 50 16-22 December 2011
Lebanon’s government has narrowly avoided collapse, but more problems lie ahead over the assassination of former prime minister Rafiq Hariri
A watered-down GCC membership for Jordan

Issue 49 9-15 December 2011
Full membership of the GCC is probably out of reach for Jordan, but Amman still has much to gain from forging closer ties with the economic bloc
Pressure builds for political reform in Jordan

Issue 49 9-15 December 2011
With yet another new prime minister in place, Jordanians hope the government will implement political reforms. Optimism could return to protests if progress is not made
Middle East leaders under pressure

MEED Yearbook 2012
The republic states have been most affected by this year’s Arab uprisings, but the region’s monarchies are not immune, leading governments to promise political reform and increased spending
A military stalemate in Egypt

Issue 47 25 November-1 December 2011
Protests look likely to continue unless Cairo’s army makes the concessions they want, casting a shadow over forthcoming elections
Cautious political reform in the UAE

Issue 44 4-10 November 2011
Abu Dhabi has substantially increased the number of people eligible to vote in this year’s Federal National Council elections, but the UAE remains cautious in its approach to democratic reform
Growth under pressure in the UAE

Issue 44 4-10 November 2011
The UAE economy is in healthy shape after a period of low growth, but problems in international markets could yet undermine progress
Anglo Arab Insurance Brokers

Issue 42 21-27 October 2011
The Jordan-based insurer hopes to capitalise on its first-mover advantage in Iraq and Libya
Anglo Arab Insurance Brokers: MEED assessment

Issue 42 21-27 October 2011
The Middle East is a ready market for a company such as Anglo Arab Insurance Brokers
A box-ticking exercise

Issue 41 14-20 October 2011
Saudi men went to the polls on 29 September to elect municipal councils, but real democratic reform is still far away
Governments in the Middle East buying time

Issue 41 14-20 October 2011
Top of the agenda for the World Economic Forum is how governments can respond to the Arab uprisings
Eurozone contagion hits Middle East

Issue 40 7-13 October 2011
Europe’s sovereign debt crisis is forcing regional borrowers to turn to alternative sources of funding
Exporting Iran's revolution

Issue 39 30 September-6 October 2011
The Revolutionary Guards Corps is becoming increasingly involved in setting Iran’s foreign policy
Iran’s silent coup

Issue 38 23-29 September 2011
MEED looks at the growing role of the Revolutionary Guards in Iran’s economy
GCC takes on Malaysia’s dominance in the Islamic finance market

Issue 37 16-22 September 2011
Malaysia will continue to be the strongest market for Islamic finance, but the growth plans of hte GCC for the coming years means it could start to close the gap
Syrian economy under pressure

Issue 34 26 August-1 September 2011
The value of deposits at Syrian banks have fallen as the civil unrest escalates. But the economic problems are still far from bringing regime change
Iran: Paying the price for removing subsidies

Issue 33 19-25 August 2011
Tehran’s decision to axe subsidies at the end of last year was both necessary and brave, but the new system of direct payments to the public may not prove any more sustainable
EFG Hermes

Issue 28 15-21 July 2011
The Cairo-based investment bank is facing tough times after protests in its home market hit profit
EFG Hermes: MEED Assessment

Issue 28 15-21 July 2011
Like all Egyptian banks, EFG Hermes was forced to close its doors in early 2011 when the political turmoil was taking place
Bank of Alexandria

Issue 27 8-14 July 2011
With the outlook for the banking sector looking bleak for the rest of 2011, the bank is focused on longer-term growth
Bank of Alexandria: MEED Assessment

Issue 27 8-14 July 2011
It will take some time for the country and its banking sector to recover from the setbacks of earlier this year
Middle East Economic Review 2011: Concerns over instability in the Middle East return

9 June 2011, 0:17 GMT
After the global economic crisis, the fiscal forecast for the Middle East was upbeat. Then political unrest swept the region. Growth for most countries now looks to be an even longer uphill struggle
Competition for takaful increases in the Gulf

Insurance supplement
The market for Islamic insurance is an attractive prospect in the Middle East, with recent years seeing a proliferation of providers, driven in part by products being made compulsory
Egypt banks wait for stability to return

Issue 20 20-26 May 2011
Having survived the political and economic crisis at the start of the year, Egypt’s banks now face a period of reduced growth and lower profits as they await recovery
Steady evolution at Education City

Issue 19 13-19 May 2011
While continuing to attract leading universities, Doha is becoming more business-like in its negotiations with institutions wanting to establish a presence at Education City
Doha’s growing self-assurance in diplomacy

Issue 16 22-28 April 2011
Sending jets to patrol Libyan skies is the latest sign of Doha’s confidence on the diplomatic stage
Sharia banks benefit from Qatar directive

Issue 14 8-14 April 2011
Regulatory change in the banking sector, splitting sharia-compliant and conventional business, means wholly Islamic banks in Qatar can look take advantage of a larger client base
The threat for the GCC from a failed Yemen

Issue 13 1-7 April 2011
As Yemen edges closer to potential civil war, the GCC is desperate to ensure the problems do not spill over
Political risk for oil producers in the Middle East

Issue 10 11-17 March 2011
Governments are set to benefit as unrest in the Middle East pushes oil prices above budget forecasts
The hard economic road ahead for Jordan

Issue 9 4-10 March 2011
Jordan’s slower economic growth and rising prices highlight the fiscal dilemmas facing oil-importing countries in the region
Egypt's bankers hoping on an economic change for the better

Issue 6 11-17 February 2011
Egypt’s bankers hope the political crisis will result in a more open economy
Ras al-Khaimah adapts to new reality

Issue 5 4-10 February 2011
The UAE emirate is adjusting well to the challenging conditions of slower growth. Its economy is expanding on the back of strong financial and service sectors
Only the beginning for Tunisia

Issue 3 21-27 January 2011
Tunisia’s new leaders face the same economic problems that caused the protests ousting the president
Toughened sanctions hit Iran’s banks

Issue 52 24-30 December 2010
Since international sanctions on Iran were tightened in July, Iranian banks with overseas subsidiaries have struggled to do business, while domestically non-performing loans are posing a challenge
Yearbook 2011: The political landscape in the Middle East and North Africa

Supplement: MEED Yearbook 2011
Several Middle East countries have important polls planned in the next 12 months that will determine the political landscape for years to come
Clearing the way for home ownership in Saudi Arabia

Issue No 39 24-30 September 2010
Riyadh is expected to introduce a mortgage law within the next few months, but structural problems continue to hinder development of a healthy housing finance model in the region
The Gulf: Facing up to cyber threats

Issue No 38 17-25 September 2010
Gulf governments are clamping down on Blackberry phones, claiming national security concerns, but there are far larger technology threats to worry about
Dubai Financial Market merger boosts Nasdaq Dubai

Issue No 37 10-16 September 2010
Some early signs of success from the Nasdaq Dubai-DFM merger could bolster arguments for further consolidation among Gulf stock markets
Power capacity building in Iran faces obstacles

Issue No 36 3-9 September 2010
Sanctions and a lack of foreign expertise are hindering plans to build up Iran’s power sector. Reforming the system of subsidies will be another challenge
National Bank of Fujairah

Issue 35 27 August - 2 September 2010
The UAE-based lender is looking to regain ground lost in the aftermath of the global crisis
National Bank of Fujairah: MEED Assessment

Issue 35 27 August - 2 September 2010
Over the past two years, the bank has turned around a worrying slide in its capital adequacy ratio
Q&A: National Bank of Fujairah

Issue 35 27 August - 2 September 2010
A bank spokesman says the long-term strategy is to grow prudently and efficiently
Arab Bank Group

Issue 32 6-12 August 2010
The Amman-based lender is gearing up to expand its retail banking operations
Arab Bank Group: MEED Assessment

Issue 32 6-12 August 2010
The bank is among the most diversified in the region, which helps it to ride out downturns in individual markets
Q&A: Abdel Hamid Shoman, Chairman, Arab Bank Group

Issue 32 6-12 August 2010
The company has returned to many markets where it once lost branches to nationalisation, because of growing stability
Reflecting on 40 years of Sultan Qaboos' rule

Issue No 30 23-29 July 2010
After spectacular growth in the past 40 years, Oman faces a more challenging environment as oil output falls and questions remain unanswered about Sultan Qaboos’ successor
Riyadh courts Berlin’s technology expertise

Issue No 25 18-24 June 2010
The kingdom’s diversification programme requires specialised technology and expertise, and German companies are keen to exploit the new opportunities
Abu Dhabi faces visitor shortfall

Issue No 16 16-22 April 2010
The government will have to find additional visitors to fill the rising number of hotel rooms in the emirate as it awaits completion of ambitious tourism schemes
Can the world save Sanaa?

Issue No 6 5-11 February 2010
How international support could rescue Yemen from becoming a failed state
Sanaa needs its Gulf neighbours

Issue No 6 5-11 February 2010
The West’s interest in Yemen does not extend far beyond a fear that it could incubate Al-Qaeda terrorists. The interests of the Gulf countries range far wider and should lead to them taking a far wider helping role
Cairo eases prequalification terms for airport deal

22 January 2010, 15:21 GMT
Contract covers renovation of terminal building and construction of departure hall
US pledges to increase aid to Yemen

22 January 2010, 14:48 GMT
Clinton to co-operate more closely with Sanaa to combat terrorism
French banks top league table for financial advisory contract

15 January 2010, 16:25 GMT
European firms lead the way in financial and technical advisory tables
Circle Oil increases production at Moroccan gas well

15 January 2010, 14:20 GMT
Output boost follows completion of engineering works
Qatar Petroleum and ExxonMobil sign deal for Ras Laffan complex

6 January 2010, 18:02 GMT
Steam cracker and polyethylene plants will be the largest in the world
Riyadh awards Mecca-Medina rail deal to Scott Wilson Group

5 January 2010, 16:13 GMT
UK firm to provide project management support on Haramain high-speed rail project
Dana Gas makes gas discovery in Egypt

5 January 2010, 12:36 GMT
Sharjah energy firm increases daily production rate by 27 per cent
Oil firms should beware of the risks in Iraq

Issue No 2 8-14 January 2010
Lack of a national oil law means none of the oil firms can be certain their contracts will be legally secure
Iran's non-oil exports rise by 25 per cent

31 December 2009, 12:40 GMT
Trade dominated by Asian countries
Tunis financial harbour project secures land

31 December 2009, 12:40 GMT
Design and infrastructure consultants also appointed
Moroccan state spending on subsidies falls

30 December 2009, 19:20 GMT
Rabat plans to cut costs of aid programme
Ratings agency downgrades Abu Dhabi Commercial Bank

30 December 2009, 12:59 GMT
Exposure to Dubai market hits institution
Jordan economy grows by 2.1 per cent

30 December 2009, 12:46 GMT
Global downturn and high cost of energy imports hit economy
Kuwait Turkish Participation Bank receives licence to operate in Dubai

29 December 2009, 12:28 GMT
Institution plans to offer a full range of sharia-compliant services
Omani investment firms cancel merger plans

29 December 2009, 12:24 GMT
Companies end talks over lack of synergies
Islamic Development Bank receives AAA credit rating

29 December 2009, 12:07 GMT
Institution to invest $11.5bn over the next three years
Gulf Projects 21 December 2009: Index rises 2.2 per cent

22 December 2009, 17:25 GMT
The MEED Projects index recorded a growth of 2.2 per cent in the value of projects planned or under way across the region in the week to 21 December.
2009 annual news review

Supplement: MEED Yearbook 2010
MEED offers a news review of the some of the major events in various sectors during the year
Governance 2010: Iraqi, West Bank and Gaza election plans run into delays

Supplement: MEED Yearbook 2010
Polls in Iraq, the West Bank and Gaza are being held back by political disputes, while those taking place in Egypt and Bahrain later in the year are unlikely to lead to significant change
Sanaa needs outside help

Issue no 51 18-24 December 2009
Observers have fretted that the low-level war between Sanaa and the northern Houthi rebels is really a proxy war between Saudi Arabia and Iran. But in truth, the conflict’s roots lie firmly in Yemen.
MEED List: Kaust leaders

Supplement: Kaust
Twelve of the most influential figures in the development and administration of Kaust: Ali al-Ajmi, Najah Ashry, David Keyes, Charles Kingdon, Mohamed al-Mady, Brian Moran, Ali Ibrahim al-Naimi, Nadhmi al-Nasr, Bill Odell, Frank Press, Prince Faisal bin Abdullah bin Mohammed al-Saud and Choon Fong Shih
Fears over sukuk must be quelled in the Gulf

Issue No 50 11-17 December 2009
Resolving the current legal and security issues is imperative to preserve the potential of sukuk
Doha to decide on ethane plant proposals by January 2010

Issue No 48 27 November - 3 December 2009
Government considers proposals from ExxonMobil, Total, Shell and Honam
Ras Laffan plant to start up in December

Issue No 48 27 November - 3 December 2009
Commercial production of ethylene is expected to begin at least six months later than originally planned
Total considers reducing ownership of Arzew plant

Issue No 48 27 November - 3 December 2009
Sonatrach disputes ownership, feedstock and financing
Gulf Projects 19 November 2009: Index falls 1.6 per cent

19 November 2009, 13:21 GMT
The value of projects in the region is now $2.65bn
Case study: Khalifa bin Salman Port

Supplement: Middle East Ports 2009
Although built to operate as a trading hub for the upper Gulf, the Bahraini port has been relying on domestic demand since opening in April this year
Bahrain economy

29 October 2009, 14:50 GMT
Six of the most important figures in the development of Bahrain’s economy are: Crown prince Sheikh Salman bin Hamad al-Khalifa, Rasheed Mohammed al-Maraj, Ahmed Saleh al-Noaimi, Sheikh Ahmed bin Mohammed al-Khalifa, Majeed al-Alawi and Esam Abdulla Fakhro
Expanding transport links help get Bahrain's economy moving

29 October 2009, 14:50 GMT
Businesses frustrated at the difficulty of getting goods in to and out of the kingdom via the bridge from Saudi Arabia will soon have an array of alternatives as Bahrain expands its road, rail, air and sea links
Filling a gap in Bahraini regulation over commercial disputes

29 October 2009, 14:48 GMT
Bahrain will open its first centre dedicated to resolving commercial disputes in Januaryas part of continuing efforts to make the kingdom the centre for business in the Gulf
Ports in the Emirates need to find a niche

Issue No 42 16-22 October 2009
The danger is that the UAE’s ports will fail to differentiate themselves from their rivals
Qatar's gas dependence is unsustainable

Issue No 42 16-22 October 2009
The strategy adopted by Doha is a sensible one, but the dangers are substantial and until it overcomes them, it would be wise to be cautious
Oil could cure economic ills in Iran

Issue No 39 25 September - 1 October 2009
Ahmadinejad has proved to be a poor steward of the economy. Without improved economic performance, the regime’s opponents are likely to increase
Iran's economic headache

Issue No 39 25 September - 1 October 2009
Declining oil revenues rather than UN sanctions are the biggest barriers to economic revival
Port plans rely on trade upturn

7 August 2009, 14:43 GMT
The days of congestion at GCC ports are now little more than memories. The problems of last summer, when Jeddah Islamic Port had to turn away ships because of a lack of space, have been replaced by the far more serious problems of declining demand and questions over the viability of multi-billion-dollar expansions.
Special Report: Transport & Logistics - Transport sector needs an uplift in trade

7 August 2009, 13:24 GMT
The Gulf enjoyed a six-month delay before the international banking crisis, which began in late 2007, finally hit the region. A similar scenario now seems to be developing in the transport sector.
Gulf Projects 4 August 2009: Index falls 0.9 per cent

4 August 2009, 10:04 GMT
The week to 4 August ended with the MEED Projects - CMI Index falling back after a series of gains in July, leaving it just below the $2.6 trillion mark.
Tadawul needs to open up

31 July 2009, 16:49 GMT
The Saudi Stock Exchange (Tadawul) has suffered two bear markets in three years and has yet to recover from either. The 2006 crash pulled the Tadawul All-Share Index (Tasi) down from more than 20,000 points in February that year to just 7,933 by December. Last year's crash means the index now stands at just 5,839 points.
Royal Jordanian names Hussein Dabbas as new chief executive

29 July 2009, 15:58 GMT
Royal Jordanian has appointed Hussein Dabbas as president and chief executive officer to succeed Samer Majali, who is leaving to run Bahrain-based Gulf Air.
Election splits Iranian elite

2 July 2009, 14:52 GMT
As evidence of fraud in the Islamic Republic's June presidential elections mounts, the risk of political instability in the country is increasing.
Middle East set to spend through the downturn

26 June 2009, 17:20 GMT
Although economic growth is predicted to drop sharply in the region this year, governments will continue to invest in much-needed development projects as inflation declines and construction costs fall.
Tehran needs compromise

19 June 2009, 19:25 GMT
The election result giving Ahmadinejad victory is bad for Iran and the wider region.
Tehran must woo foreign investors

5 June 2009, 17:34 GMT
The Iranian government is likely to relax foreign investment restrictions, benefiting trade and relations.
Chinese will upset Gulf power market

29 May 2009, 18:24 GMT
It will take time for the Chinese to establish their reputation, but once they do, they are likely to prove formidable competitors.
Downturn offers an opportunity in the Gulf

22 May 2009, 18:26 GMT
The healthcare, education, and power and water sectors are all attractive to private equity firms.
Obstacles on the path to peace in the region

21 May 2009, 17:57 GMT
US President Barack Obama's efforts to secure an agreement between the Israelis and the Palestinians have received a sceptical response.
Saudis call for EU to compromise over trade deal

7 May 2009, 17:50 GMT
The EU's failure to agree a free trade deal with the GCC is "unacceptable" and could result in Gulf states investing less money in the EU, says a senior former Saudi diplomat.
Islamic banks risk losing ground

24 April 2009, 16:19 GMT
Once conventional banks emerge from their problems, Islamic banks will struggle to keep up.
Optimism returns to Islamic banks

23 April 2009, 15:38 GMT
MEED survey shows sector is still growing and sharia-compliant institutions are well placed for recovery.
Gulf projects 20 April 2009

22 April 2009, 12:43 GMT
The value of projects remains stable across the Gulf, with most markets showing either small rises or no change at all compared to a week earlier. Only Iraq has shown a slight fall.
Qatargas exporting LNG to the UK

10 April 2009, 17:12 GMT
New liquefied natural gas facilities being built at Milford Haven will receive supplies from Qatargas II as UK domestic production declines.
Oil output falls begin to take effect

20 March 2009, 16:55 GMT
Despite declining global demand and difficulties in getting member states to comply, oil prices are starting to rise following a series of production cuts introduced by Opec since September 2008.
Rakeen Development faces dispute over Georgian assets

20 March 2009, 15:07 GMT
Ras al-Khaimah government-owned property developer Rakeen Development has been threatened with legal action over its activities in Georgia.
Syriatel to list on Damascus exchange

13 March 2009, 15:05 GMT
Local telecoms giant will join banks and transport companies listing on newly opened bourse.
US talks with Syria spark hopes of rapprochement

12 March 2009, 14:31 GMT
Once considered by the US as a rogue state, Syria has been repeatedly visited by senior Washington officials this year, raising hopes that international trade sanctions may be lifted in the near future.
UAE set to release economic report

2 March 2009, 17:45 GMT
A source at the UAE government says an International Monetary Fund (IMF) report on the country’s economy will now be published.
Tehran needs investment

15 February 2009, 11:54 GMT
It is in the sphere of economic policy that the largest gaps are likely to emerge during the campaign. If privatisation is to succeed, it will have to be matched by lowering tensions in the foreign policy sphere.
Risk profiles focus on funding

8 February 2009, 8:47 GMT
While the outlook for the Middle East in 2009 is less bleak than for other regions, growth will slow further.
Tehran awards third mobile licence to Etisalat consortium

13 January 2009, 17:39 GMT
Iran’s Communications Regulatory Authority has awarded the country’s third mobile licence to a consortium including the UAE’s Emirates Telecommunications Corporation (Etisalat).
Lebanon awards mobile management contracts to Zain and Orascom

13 January 2009, 17:24 GMT
Lebanon's Telecommunications Ministry has handed one year management contracts for the country's two mobile phone networks to Egypt's Orascom Telecom and Kuwait's Zain Group.
Iran: Supply of mud balance equipment

24 December 2008, 10:23 GMT
Supply of mud balance baroid four scale complete equipment. Closing date: 28 February 2009.
Iran: Supply of centrifugal pump

24 December 2008, 10:21 GMT
Supply of centrifugal pump and spare part. Closing date: 3 January 2009.
US issues warning over Yemen election

16 December 2008, 12:04 GMT
The US has raised concerns that upcoming parliamentary elections in Yemen may not be fair and transparent, due to a lack of cooperation among the country’s political parties.
Saving monetary union in the Gulf

16 December 2008, 0:00 GMT
GCC states are reviving plans for a single currency, but meeting convergence criteria is posing problems.
Abu Dhabi Conference 2008: Banking & Finance

9 December 2008, 15:22 GMT
Banking chiefs met at meed’s Abu Dhabi conference to discuss the emirate’s immediate and long-term financial aspirations in light of the global credit crunch.
Jordan: Construction of schools

8 December 2008, 15:43 GMT
Four tenders for the construction of a total of 12 schools at sites around the country. Closing date: 30 December.
Iraq: Spare parts for drilling rigs

8 December 2008, 15:38 GMT
The supply of equipment and spare parts for the rehabilitation of drilling rigs. Closing date: 17 December at 2pm.
Yemen needs more than aid

28 November 2008, 17:19 GMT
The country faces growing problems ranging from terrorist attacks to limited water supplies.
Disaster increases pressure on Sanaa

27 November 2008, 12:56 GMT
Dogged by floods, water shortages, kidnappings and a spiralling population, Yemen is struggling to diversify its economy.
Gulf to focus on global stability

6 November 2008, 19:09 GMT
Despite investing in Barclays and Credit Suisse, further bank rescues by Middle East funds are unlikely as they turn their attentions to an IMF bid to help countries suffering from the credit crisis.
Dubai risks taking on too much debt

17 October 2008, 16:17 GMT
The scale of the emirate’s debt is becoming a concern as major markets are flirting with recession.
Tehran makes a U-turn on value added tax

16 October 2008, 17:34 GMT
Striking merchants have forced Tehran to suspend a new tax, reducing the sources of revenue for President Ahmadinejad.
Dubai government liabilities reach $47bn

13 October 2008, 17:17 GMT
Dubai’s government has $47bn in liabilities through government-related companies, more than its entire gross domestic product, according to Moody’s Investors Service, a credit ratings agency.
European turmoil threatens Rabat's economy

9 October 2008, 16:28 GMT
Morocco’s close trading links with Europe are set to hit its economy as more EU states slip into recession.
Infrastructure in the GCC is a top priority

3 October 2008, 15:51 GMT
The drying-up of project finance poses a tough challenge to GCC states Pushing ahead with infrastructure development must be the priority.
Gulfsands to boost oil production in Syria

30 September 2008, 14:58 GMT
Gulfsands Petroleum, the UK-based oil exploration company, says it is expanding its early production facility in Syria to boost production to 18,000 barrels-a-day (b/d).
Construction work on Dubai Maritime City to start in October

30 September 2008, 12:55 GMT
Construction work on the latest development by the UAE’s Al Faraa Properties is to start in Dubai Maritime City in October.
Iraq launches hydropower and wind farm studies

24 September 2008, 11:05 GMT
The Kurdistan Regional Government (KRG) has invited companies to bid for contracts to carry out detailed feasibility studies for hydropower plants and wind energy farms.
Qatari Diar launches subsidiary to develop Lusail

23 September 2008, 17:53 GMT
Qatari Diar Real Estate Investment Company has launched a separate company to develop its flagship Lusail project.
Samena Capital seeks billion-dollar deals

19 September 2008, 13:50 GMT
Bahrain-based investment firm Samena Capital to take minority stakes in listed companies in the Middle East, North Africa and Asia.
Code of conduct is no threat to Gulf funds

5 September 2008, 14:58 GMT
GCC funds have little to fear from a new code; it is Chinese and Russian funds that are in the West’s sights.
Military tightens its grip on power in Mauritania

22 August 2008, 12:21 GMT
The military leaders of the coup deposing President Abdallahi claim they are to hold democratic elections, but it is not clear if the army will relinquish its control.
Gulf needs more project diversity

25 July 2008, 15:34 GMT
A wider range of projects funded should ensure that economic growth is sustainable.
GCC projects market tops $2 trillion

25 July 2008, 12:28 GMT
The booming real estate sector is accounting for the doubling of projects planned or under way in the GCC over the past year.
Educational reforms will help business

18 July 2008, 8:21 GMT
Even the best regional universities struggle to compete on a world stage. A well-educated workforce will allow the economy to prosper.
Value of Islamic bond issues rises to $17bn

17 July 2008, 15:50 GMT
The value of Islamic bonds (sukuk) issued in the GCC has risen by 17 per cent in the past year to $17bn, with Western institutions buying the majority of the debt.
Moroccan inflation set to rise by year end

16 July 2008, 17:03 GMT
Inflation in Morocco could reach 2.7 per cent by the end of the year, according to Abdellatif Jouahri, chairman of the central bank, Bank Al Maghreb.
Inflation hits Cairo’s reforms

11 July 2008, 8:25 GMT
Egypt’s plans to deliver economic growth and open up state-dominated industries have been hit by soaring inflation, which is the now the highest in the region.
Cairo seeks buyer for stake in Case derivatives exchange

27 June 2008, 17:45 GMT
Stock market privatisation is ruled out but futures market talks are under way.
Beltone plans to expand into Kuwait and Libya

24 June 2008, 15:46 GMT
Beltone Financial, the Egyptian investment bank, is planning to expand into Kuwait and Libya in the coming months.
Timing must be right for GCC monetary union

20 June 2008, 15:56 GMT
There is no need for a single GCC currency, but it will make life easier. As GCC states procrastinate, their economies get harder to manage.
Saving monetary union in the Gulf

20 June 2008, 13:56 GMT
GCC states are reviving plans for a single currency, but meeting convergence criteria is posing problems.
Gulfsands completes drilling on Syrian test well

17 June 2008, 15:45 GMT
Gulfsands Petroleum, a UK-based oil exploration company, has completed drilling operations on its latest development well in the Khurbet East field.
Cairo plans Abu Qir desalination plant

10 June 2008, 14:20 GMT
Egypt’s West Delta Electricity Production Company has invited bids for the development of a desalination plant at Abu Qir.
The Gulf needs to raise taxes

6 June 2008, 14:57 GMT
The UAE is to lead other GCC states with a tax on goods and services. Consumers will pay to ensure that the Gulf economies remain attractive.
Increasing the tax burden in the Gulf

6 June 2008, 14:01 GMT
As Gulf governments prepare to introduce VAT, the region’s reputation as a tax haven is being eroded.
Gulf exchanges face shake-up

23 May 2008, 16:18 GMT
There should be no let-up in moves to adopt higher standards of financial disclosure for listed firms.
Aramco needs help with trading hub

25 April 2008, 15:54 GMT
A trading hub backed by the oil giant would be welcome. The question for Aramco is whether it will develop it beyond its borders.
Yemen considers reforming industrial sector

15 April 2008, 17:00 GMT
Sanaa is considering plans to introduce two new laws for the industrial sector and setting up a new body to advise the government on its industrial policy.
Profits rise by 23 per cent at Sabb

15 April 2008, 16:21 GMT
Profits at Riyadh-based bank Sabb rose by 23 per cent in the first quarter of 2008, as it continued to avoid the global market turmoil.
Middle East should not be complacent over economic growth

11 April 2008, 14:10 GMT
The IMF is increasing growth forecasts but dangers remain as the region will be outpaced in economic growth by every area of Asia except Japan, as well as Africa.
Qatar to supply liquefied natural gas to China

10 April 2008, 17:18 GMT
Qatargas has signed agreements with PetroChina for the long-term supply of liquefied natural gas (LNG) to China.
Gulf Finance House to build $10bn energy hub in Kazakhstan

10 April 2008, 10:25 GMT
Gulf Finance House (GFH), the Bahraini investment bank, is to develop a $10bn energy hub in Kazakhstan, in a partnership deal with the central Asian republic’s government.
Pressure grows on Gulf governments to sign sovereign wealth fund code

4 April 2008, 15:43 GMT
World’s second-largest sovereign wealth fund backs Abu Dhabi agreement governing investment activity.
Code of conduct can build trust for sovereign wealth funds

4 April 2008, 13:56 GMT
When asked to name a deal by a sovereign wealth fund that has endangered their national security, government officials in the US and Europe talk vaguely about strategic assets and point to their airports, telecoms networks and defence companies.
The drive for full disclosure in sovereign wealth funds

4 April 2008, 12:55 GMT
The West is calling for sovereign wealth funds to open up, but the Gulf has little to fear.
Gaddafi's reforms are bold but misguided

20 March 2008, 15:02 GMT
Muammar Gaddafi deserves plaudits for recognising the problem with Libya's current system of government. It is bureaucratic, inefficient and prone to rapid and unpredict-able changes in policy.
Kuwait to hold fresh elections

19 March 2008, 18:19 GMT
Kuwait will hold fresh elections on 17 May, following the dissolution of parliament on 19 March.
Saudi Arabia starts small with sovereign wealth funds

14 March 2008, 16:39 GMT
Sovereign wealth funds are loved and hated with equal fervour. For some, they are a source of market stability at a time of unwelcome volatility; for others, they are a secretive threat to strategic national interests.
Salhia increases stake in Islamic investment bank

5 February 2008, 15:09 GMT
Kuwait-based Salhia Real Estate Company has increased its holding in The International Investor, an Islamic investment bank, to 6.2 per cent.
Gulfsands Petroleum to develop Syrian oil field

5 February 2008, 12:10 GMT
UK-listed oil and gas exploration company Gulfsands Petroleum is to start development of the Khurbet East Field in Syria immediately, after gaining approval from Damascus.
Rolls-Royce signs engine deals for Oman and Dubai

29 January 2008, 14:05 GMT
Rolls-Royce has signed a deal to supply Oman Air with engines for seven wide-bodied aircraft. In a separate agreement it will also upgrade industrial engines for Dubai Petroleum.
UN calls on countries to follow Jordan's lead in tackling corruption

28 January 2008, 17:44 GMT
An anti-corruption scheme involving Jordan and 15 other states around the world should provide the framework for a new global mechanism to tackle graft, according to a leading UN official.
Easing restrictions would aid growth

18 January 2008, 17:37 GMT
The West Bank and Gaza is not a normal place to do business. With onerous restrictions on the movement of goods and people, economic activity is painfully restricted.
Agenda: Bush’s waning powers of persuasion

18 January 2008, 16:12 GMT
The US president struggled to build support for greater action against Tehran during his Middle East visit.
Bush visit is too little, too late

11 January 2008, 17:20 GMT
With a year to go in office, US President George Bush has finally made it to the Middle East. For a region so central to the reputation of his administration, it is surprising that this is only his second visit to the region since the Red Sea summit at Sharm el-Sheikh in Egypt in June 2003.
Reasons for optimism

4 January 2008, 16:25 GMT
The leading industrialised nations may look increasingly vulnerable to an economic downturn, but the Middle East has more cause for optimism in 2008, and for many of the same reasons.
Muscat plans 20 per cent increase in public spending

4 January 2008, 14:26 GMT
Muscat will boost spending by almost a fifth this year, backed by an expected continuation of high oil prices.
Taqa completes UK acquisition

3 January 2008, 18:07 GMT
Abu Dhabi National Energy Company (Taqa) has completed the acquisition of Talisman Energy’s interests in the Brae area of the North Sea, off the coast of the UK.
Qatari firm wins contract to double Dolphin gas storage facilities

3 January 2008, 16:34 GMT
Dolphin Energy has awarded a $212 million contract to double the capacity of its storage facilities to Qatar Engineering and Construction Company. The engineering, procurement and construction contract has been awarded for the expansion of the low sulfur condensate tank farm at Ras Laffan Industrial City in the north of the country. It will boost the tank farm’s capacity from 1.5 million to 3.32 million barrels.
Libyan foreign minister holds talks in Washington

3 January 2008, 16:18 GMT
The Libyan Foreign Minister Abdul Rahman Shalqam was due to hold a series of meetings with senior US officials on 3 January, including Secretary of State Condoleezza Rice, during an official visit to Washington.
Dewa tenders second phase of Hassyan P power and water plant

3 January 2008, 14:10 GMT
Dubai Electricity and Water Authority (Dewa) has issued a tender for the construction of the second phase of the Hassyan P power and desalination station.
Doosan wins power contracts in Libya

2 January 2008, 18:08 GMT
South Korea’s Doosan Heavy Industries and Construction has signed a contract with General Electricity Company of Libya to supply four 350MW boilers to the oil-fired thermal power plant in Al Khalij.
Ben Ali backs laws to boost economy

28 December 2007, 12:23 GMT
Tunisia’s President Zine el Abidine Ben Ali has promulgated the 2008 finance law, during a meeting with Prime Minister Mohamed Ghannouchi on 27 December.
Agency set up to monitor inflation

28 December 2007, 11:46 GMT
The UAE government is to set up a new agency to monitor inflation levels in the country, according to Sultan Bin Nasser Al Suwaidi, governor of the Central Bank.
Banks must offer Islamic finance

21 December 2007, 10:48 GMT
In the past two years, 16 banks have disappeared from the Egyptian market, more than a quarter of the total, leaving 41.
Inflation is price of record oil

10 December 2007, 11:17 GMT
Backed by high oil prices, governments across the region have been boosting money supply by pumping huge amounts of investment into their economies. But while that has underpinned the Gulf's booming projects market, it has also added to the region's inflation problem.
Saudi banks must fight to survive

30 November 2007, 16:54 GMT
Over the past two years, 78 new investment banks have opened their doors in Saudi Arabia. The number of people they employ is about 33,000 - about 3,400 more than this time last year. And the sector should keep on growing by 10 per cent a year for the next three years.
Damascus' tough choices

16 November 2007, 18:19 GMT
With dwindling oil resources, Damascus faces some tough choices as it attempts to reform the economy and attract private investment.
Abu Dhabi buys stake in US technology company

16 November 2007, 0:00 GMT
Abu Dhabi's Mubadala Development Company has bought a stake in US technology company Advanced Micro Devices (AMD).
Opec calls on West to fund carbon capture research

16 November 2007, 0:00 GMT
Opec has called on industrialised countries to take the lead in funding the development of carbon capture technology, in an effort to tackle climate change.
Dubai: Giant threat to local rival

6 November 2007, 16:44 GMT
Plans to build the world's largest airport at Dubai World Central could prove terminal for the existing Dubai International.

MEEDDominic Dudley

MEED
Dominic Dudley