MEED
Issue 41 8-14 October 2010
View all stories from this issue.
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Abu Dhabi signs metro and tram contracts
Aecom has signed for the metro consultancy contract while Sener and Typsa have signed for the tram consultancy contract -
Al-Balushi Investment to unveil new project in Oman
Project involves building 58 villas -
Almarai looks to double capital
Company wants to double capital $613m -
Alvareo Racero
Alvareo Racero is Regional executive director – Europe, Asia & Africa, Repsol -
Aramco releases full tenders for Shaybah scheme
Commercial and technical tenders released for the natural gas liquids project -
Bahrain to name preferred bidder on housing PPP by end of October
Two bidders submitted clarification documents on 3 October -
Bahrain's economy grows by 4.6 per cent in second quarter
Prime minister says growth was satisfactory -
Better Homes secures exclusive project in Abu Dhabi
Agent will work on the Al-Seef Development -
Bid deadline set for Dubai waste-to-energy project
Dubai Municipality says bids must be submitted by 19 December -
Bids for Sur independent power project due in March 2011
Prequalifiers to be notified by mid-November by Oman Power and Water Company -
Bids in for $200m Sohar refinery design
Seven prequalified companies submit bids for front-end engineering and project management contract -
Colony Capital plans more hospitality investment in GCC
Company holds shares in Carrefour, Fairmont and Accor -
Du gets $225m credit facility from China
Export-Import Bank of China to fund 3g network expansion -
Dubai Properties Group plans to complete four developments in 2011
Company is one of Dubai’s largest masterplan developers -
Dubai working on new law to stimulate private-sector infrastructure spending
New regulations are the latest sign that Dubai is changing its development model -
Dubai’s PPP law challenge
Success of public-private partnerships in Dubai will depend on financial, not legal issues -
Egypt's Sodic to start residential projects in Syria
Developer will also complete a project already started by Damascus-based Palmyra Real Estate Development -
Emal plays wise waiting game
Delays in Algeria and Saudi Arabia will give the firm time to focus on its domestic operations in the UAE -
Emal puts $10bn of smelter projects on hold
Smelters in Algeria and Saudi Arabia are now on hold due to external pressures -
Etisalat wins arbitration dispute in Africa
Paris tribunal upholds UAE operators claims -
Falcon bank looks to double Middle East assets
Swiss private bank will target the region’s wealthy individuals -
Fierce bidding expected for Maaden rolling mill package
South Korean contractors expected to be submit competitive bids for construction package -
GE inks $700m deal with Saudi Electricity
US company will supply power generation equipment to Riyadh’s PP11 -
Gulf Air restarts service to Columbo
Airline is set to commence services to three more destinations by the end of the year -
Gulf banks benefit from sharia rules
The Gulf’s Islamic banks have been tested by the global financial crisis, but most have fared better than their conventional peers. Challenges still need to be faced, but the future is looking positive -
Gulf Finance House: Back from the brink
Ted Pretty has completed the first stage of a radical restructuring of one of the region’s best-known Islamic banks, Gulf Finance House. The next stage promises to be the most difficult -
Gulf looks for debt market revival
Despite a pick-up in GCC sukuk issuance since the start of the year, the Gulf still lags behind Asia, with Malaysia setting the pace for Islamic securitisation -
Gulf One Investment Bank
The Bahrain-based lender has carved out a unique niche in financing infrastructure projects -
Gulf One Investment Bank: MEED Assessment
The Bahrain-based lender has carved out a niche, but it needs to establish a stronger presence in regional financings -
Honeywell opens office in Iraq
Baghdad office will supply equipment for Iraq’s oil and gas industry -
Hugh McDowell
Hugh McDowell is general manager, BP Exploration Libya -
Injaz to tender first construction package on Eastern Province project
Development will be located in corridor between Khobar and Dammam -
Insurers look to tap Islamic insurance market
Although insurance penetration is low in the region, long-term socio-economic trends point to a bright future for the takaful sector -
Insurers must take initiative
Potential for the Gulf insurance sector is huge, but insurers must take steps to grow the industry -
Investment Dar proposes revised restructuring plan
Creditors say they cannot agree to revised restructuring plan -
Iran to offer further 3G licenses in three years
Islamic Republic wants fast growth in 3G services -
Iraq oil production target: Mission impossible
Iraq will struggle to deliver its oil production target of 12 million barrels a day by 2017 -
Iraq sells jets stuck in Jordan for 19 years
Six aircraft are at Queen Alia International Airport -
Iraq to launch second major offshore deal
Finance for the project will be provided by Japan -
Iraq's oil ambitions will fall short
To meet its production targets by 2017, Iraq needs more momentum on the ground than just words -
Islamic finance: Developing new financial hubs
Financial centres outside the traditional Islamic banking heartlands of the Gulf and Malaysia are eager to attract the rapidly growing industry, but so far progress has been slow -
Jabal Omar renegotiating construction contracts
Mecca development forced to change terms of contract by banks -
John Winterman
John Winterman is president and general manager, Occidental Petroleum Libya -
Jordan allows Al-Rajhi Group to issue sukkuk
The Saudi group is building two glass and steel factories -
Khansaheb wins Ritz Carlton extension contract
Local contractor to carry out construction work at Dubai Marina hotel -
Kurt Wagner
Kurt Wagner, general manager, OMV Libya -
Kuwait commits $1bn to AIG listing
Sovereign wealth fund Kuwait Investment Authority is the investor -
Kuwait plans Islamic centre at Sabah al-Ahmed
Nine consultants have been invited to bid for design contract -
Kuwait prequalifies three for tanks project
Mina al-Ahmadi deal worth an estimated $1.2bn -
Kuwait to prequalify advisers for wastewater plant expansion
The Partnerships Technical Bureau is looking to appoint a transaction adviser for the scheme -
Libya oil
Six key figures leading the development of Libya’s oil industry: Shokri Ghanem, John Winterman, Alvareo Racero, Hugh McDowell and Kurt Wagner -
Mafraq-Ghweifat preferred bidder due to be named by end October
Abu Dhabi revising scope to lower cost of road project -
Majid Al Futtaim pulls out of Abu Dhabi mall project
Arzanah development has been reduced in scale -
Manama market falls by 4 per cent
Drop in the Bahrain projects is balanced by gains in Saudi Arabia, Kuwait and Iraq -
Marriott unveils two new properties on Red Sea coast
Hotels will be built at Jizan -
Merger with Amlak unlikely
Chairman says there are no longer any thoughts on a merger -
Mumtalakat to float 11.47 per cent Alba stake in IPO
Sovereign wealth fund owns a 77% stake in aluminium producer -
National Bonds forecasts 30 per cent growth
Company will target immigrants and women -
NPCC eyes investment in West Africa and Central Asia
Company says billions are being invested in new markets -
Oman receives revised bids for Muscat airport terminal
The three lowest bidders have submit revised bids for the construction of the new passenger terminal Muscat International airport -
Q&A: Nahed Taher, Chief Executive Officer, Gulf One Investment Bank
The bank was founded on the belief that it can bridge the gap in knowledge and availability of liquidity for financing infrastructure projects -
Qatar Airways boosts service to Thailand
Carrier now has 27 flights a week to South East Asian country -
Qatar Airways launches fourth Germany route
Flights to Munich will start next year -
Qatar plans new power plant
Project will supply between 3,000 and 5,000MW -
Qatar targets growing insurance market with new regulations
State will take on Bahrain and Dubai to establish new insurance hub -
QNB posts increased third quarter profits
Profit on increased loans, financing activities and deposits -
Riyadh right to rethink strategy
Big players comfortable with risk and looking for larger profits will be put off by low-risk contracts -
Rotana opens new hotel in Fujairah
Property is group’s 27th in the UAE -
Sale of Ritz Carlton in Dubai delayed by legal issues
The hotel is accepting reservations for arrivals from 1 January next year -
Saudi Arabia may hike electricity tariffs
Government spends about SR50bn a year to subsidise power production -
Saudi Arabia reviews Medina water management plans
Work may be tendered as operations and maintenance or concession agreements -
Saudi Arabia to invite bids for North-South railway stations
Companies are expected to submit their bids in February 2011 -
Shokri Ghanem
Shokri Ghanem is chairman and chief executive officer, National Oil Corporation -
Siemens signs Jordan turbines contract
German company will supply turbines to the Al-Qatrana Independent Power Project -
Souqextra to build superstore at Dubai Silicon Oasis
Shop will be completed in 2012 -
Special report: Islamic banking - Assets at sharia-compliant banks grow despite crisis
Islamic banking continues to grow despite financial crisis -
Syria seeks financing from World Bank
Funds will be used for infrastructure projects -
Takeover of Ras Laffan Energy to be completed soon
Qatar Electricity & Water will raise its stake to 80 per cent -
TDIC shortlists three for headquarters project
Three groups are being considered for the main construction package -
UAE appoints HSBC as adviser for nuclear scheme
UK bank joins growing list of financial advisers on nuclear project -
UAE Blackberry users not switching phones
Blackberry has 500,000 subscribers in the UAE -
UAE re-elected to international aviation body
Council has 36 members -
UAE to tighten lending rules
New multiple of earning regulations will limit the size of loans -
Work on Dohaland project proceeds on schedule
The $5.5bn project is set for completion in 2016 -
World Bank gives Egypt $270m for power plant
Egypt has about 25,000 megawatts of power capacity -
Yemen's budget deficit exceeds $2.3bn
Country had expected a deficit of $1.96bn
