MEED
Issue No 06 8 - 14 February 2008
View all stories from this issue.
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Abu Dhabi tenders deals worth $2.2bn
Tendering has started for construction contracts on two major mixed-use developments in Abu Dhabi, with a combined value of AED8bn ($2.2bn).The larger of the two is for the Tameer Towers project on Reem island. Firms have been invited to bid by 9 March for the AED7bn main construction contract, to build six towers between the sea and the Central Park area of the Shams Abu Dhabi development.Prospective bidders include two local firms, Arabtec Construction and Al-Habtoor Engineeri -
Adbic to launch polymer park in Mussafah economic zone
Construction of plant’s utilities infrastructure to begin in March -
Aluminium: The region's six key figures
The six most important figures in the Gulf aluminium sector: Ahmed Saleh al-Noaimi; Abdullah Kalban; Truls Gautesen; Abdullah Busfar; Tony Kinsman; and Duncan Hedditch. -
Aramco draws up shortlist for Ras Tanura financing
Banks line up to raise $10bn for first phase of chemicals and plastics complex -
Baghdad plans to double oil production
Oil minister reveals five-year plan for a further three fields to increase output to 6 million barrels a day -
Bahraini crown prince boosts control over reform
Economic Development Board expands membership and remit in a bid to beat bureaucratic delays -
Disclosure on sovereign wealth funds will address concerns in West
Rich countries using professional investment strategies to channel their capital towards those countries most in need of it sounds like capitalism in action. Yet Washington and its European allies do not seem impressed, especially when the money is coming from the overflowing coffers of Middle East governments. -
Doha, the region’s peacemaker
Doha’s invitation to Iran to attend the GCC summit in December 2007 demonstrates its growing diplomatic influence. However, domestic political reform remains slow. -
Dubai to launch megacity in March
Sheikh Mohammed commissions UK architect to design project similar to Kuwait’s City of Silk -
Easing the strain on Qatari healthcare
In a radical overhaul of the sector, Qatar is planning to introduce compulsory health insurance for expatriates, develop its infrastructure and recruit local workers. -
ExxonMobil and Qatar Petroleum: A profitable partnership
ExxonMobil is involved in more than 80 per cent of Qatar’s gas projects. MEED speaks to Alex Dodds, its head of operations for the emirate. -
Falling dollar concerns Opec
The difficulties faced by Opec members as a result of the falling US dollar remain a deep concern to the oil cartel. Despite a barrel of crude topping $100 in early January, the 13-member body has lost tens of billions of dollars in potential earnings since the turn of the century, as the greenback has fallen against other currencies. -
Feedstock advantage drives growth
Gulf fertiliser companies are boosting capacity despite rising project costs and fears of falling profit margins. -
Financing for Ras Laffan C project in Qatar nears
Financing for the Ras Laffan C power project in Qatar is due to go to the banking market in early March. Financial adviser Royal Bank of Scotland is expected to approach a large group of banks to join the deal. -
Getting Qatari inflation under control
With the inflation rate in the emirate expected to hit 15 per cent in 2008, the Qatari government is under increasing pressure to revalue its currency. -
Gulf stock markets to benefit from series of local listings
An Ajman-based Islamic bank is to stage an initial public offering (IPO) of shares in mid-February, as stock market activity continues to be strong across the Gulf. -
Internet cable problems: Telecoms competitors must work together
Just days after severed cables in the Mediterranean disrupted phone and internet services in the Gulf, the region’s largest fixed-line operators agreed to build a high-capacity sub-sea cable, running from India to France through the Red Sea. -
It is time for Qatar to tackle inflation
Qatar’s economic advisers are warning the emirate that major change is needed to tackle soaring inflation, which, at 13.7 per cent, is higher than in any other state in the region. -
Kuwait needs to maintain momentum on projects
The list of multi-billion-dollar projects being planned by Kuwait is impressive, from a $50bn five-year investment plan for its oil sector, to an $8bn rail system, a $2bn causeway, and the $75bn Silk City development. -
Low bidders face losing out on Al-Zour
Kuwait National Petroleum Company set to award contracts based on technical quality rather than price -
Nakheel to award contracts for Waterfront development in Dubai
Construction deals worth $3.2bn to be announced in next 12 months -
Opec considers switch to euro pricing
Opec secretary general Abdalla El-Badri tells MEED in an exclusive interview that the producers’ cartel may switch to the euro within a decade to combat the dollar’s decline. -
Political instability jeopardises rescue bid for state utility firm
A rescue bid to save the beleaguered Lebanese state utility company Electricite du Liban (EdL), which is losing up to $1bn a year, could be delayed because of the country’s political instability. -
Q&A: Samer Majali, President and CEO, Royal Jordanian
Privatising in 2001, the airline’s CEO explains the preparation undertaken and how its operations now differ -
Qatar explores alternatives to gas
Qatar plans to build either nuclear or solar power plants to meet its growing domestic energy demand, which will allow it to divert gas to the lucrative export market. -
Qtel faces up to competition
When Vodafone signs up its first customer in Qatar this year, the Gulf’s last mobile telecoms monopoly will come to an end. But a rival operator could be just what the incumbent needs -
Ras al-Khaimah reinvents itself
Ras al-Khaimah is pursuing ambitious plans, but it is learning that development does not come without challenges. -
Regional banks exposure to sub-prime debt to reach $1bn
Extent of US mortgage collapse revealed as more banks report results -
Regional telecoms operators to invest in sub-sea cable
Saudi Telecom, Telecom Egypt, Ogero of Lebanon and the UAE’s Etisalat partner spend $400m on link between India and Europe to avoid further internet disruptions like those experienced in the Middle East over the last week. -
Royal Jordanian
Jordan’s once struggling national airline has returned to profitability after simplifying its business. -
Royal Jordanian: MEED Assessment
Not the wealthiest of the Middle East’s airlines, the company has carved out a niche and developed it with care and financial rigour -
Sama to offer Hollandi to global bank
The Saudi Arabian Monetary Agency (Sama) is understood to favour selling the 40 per cent of Saudi Hollandi Bank previously owned by ABN Amro to another international bank, rather than to a regional institution. -
Saudi firms to build chemicals plant at Yanbu
Three Saudi Arabian companies - House of Invention International, Al-Muwakaba for Industrial Development & Overseas Commerce (Midroc) and Sara Holding Company - are to build an advanced chemicals plant at Yanbu on the Red Sea coast. -
Special report: Qatar - Doha struggles with rising inflation
With growth of about 14 per cent a year, Qatar is one of the world’s fastest growing economies. It has the highest per capita GDP in the Middle East. -
Tehran opens energy sector to overseas investment
Holding company for 47 oil and gas firms to list on international bourses -
The Masdar initiative: Hidden costs of alternative energy
Abu Dhabi has ambitious plans for its alternative and renewable energy sectors through its multi-billion-dollar Masdar initiative. However, there are doubts over the scheme’s commercial viability. -
The transformation of Doha's skyline
The skyline of the Qatari capital is changing rapidly as expatriate demand for residential property forces up rents and fuels a construction boom. -
Tractebel to draw up gas masterplan for Tripoli
Tripoli has appointed Brussels-based consultant Tractebel Engineering to prepare a strategic gas masterplan for the country. -
West calls for greater disclosure on sovereign wealth funds
The Gulf’s funds are coming under pressure to introduce a code of conduct.
