MEED
Issue No 12 21 - 27 March 2008
View all stories from this issue.
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A lack of liquidity
Difficulties in securing dollar financing are set to restrict the amount of deals that come to the market this year -
Abu Dhabi awards $1bn in road deals
Abu Dhabi Municipality has awarded two contracts totalling AED4bn ($1.1bn) for the construction of tunnels and interchanges along the eastern road corridor on Abu Dhabi island. -
Adco invites fresh interest in Bab deal
Abu Dhabi Company for Onshore Oil Operations (Adco) is to issue fresh prequalification documents for the retendered contract to install gas compressors at its onshore Bab field in May. -
Adwec forecasts need for new power and water capacity
Abu Dhabi will need to make a decision on commissioning a further power and water plant this year, according to the latest demand projections by the Abu Dhabi Water & Electricity Company (Adwec). -
Alba to invest in technology to reduce energy consumption
Aluminium Bahrain (Alba) is to introduce energy-efficient technologies at its 860,000-tonne-a-year aluminium smelting complex. This is the latest indication that limited gas supplies are a growing concern for the region's energy-intensive industries. -
Amman faces growing deficit after reinstating subsidies
Amman's budget deficit is likely to increase significantly this year unless far-reaching spending cuts are made, after King Abdullah reversed his decision to scrap subsidies for gas and barley. -
Ankara targets Gulf investors
Turkey is turning to the Gulf to boost its privatisation programme. -
Baghdad needs Big Oil on board
Five years after the US-led invasion of Iraq toppled Saddam Hussein, oil majors are frantically positioning themselves to make the most of the opportunities in the country's mismanaged energy sector. -
Baghdad speeds up reform in WTO bid
Baghdad is pushing through a raft of legislation this year to accelerate Iraq's bid to join the World Trade Organisation (WTO). -
Closure of Libya's ministries causes concern
Is Libyan leader Muammar Gaddafi's shock move to put public utilities into private hands too much too soon for the North African state? -
Cost of dollar funding rises as market turmoil increases
Continued turmoil in the US financial markets is causing major problems for local financial institutions seeking to finance deals in dollars, according to bankers in the region. -
Credit agencies set for bigger role
With the global credit squeeze reducing the availability of finance, export credit agencies are becoming increasingly important as sources of funding for projects in the region. -
Diyar al-Muharraq development to relaunch in June
Bahrain's multi-billion-dollar off-shore project, Diyar al-Muharraq, is expected to be relaunched in June, after a revision to the original masterplan. -
Economy: Debt and political logjams stall reforms
A lack of political consensus is undermining the government’s ability to introduce the economic reforms required under the Paris III agreement and reduce its debt burden. -
Electricity and water costs should be spelled out
In the coming weeks, three out of four of the UAE's electricity and water authorities will have restructured and raised their tariffs. -
Emirates raise tariffs in line with Dubai
Energy users across most of the UAE will have to pay more for their power and water within weeks, with both the Federal Electricity & Water Authority (Fewa) and the Sharjah Electricity & Water Authority (Sewa) set to introduce new sliding tariff structures. -
Funds struggle to deliver results
Infrastructure funds are promising returns of about 20 per cent for investors, but with rising construction costs and interest rates, it will be hard to meet these targets. -
Gaddafi's reforms are bold but misguided
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. -
Gas shortfall hits utilities profits
The cost of fuel for power and water projects is rising, causing delays on new schemes. -
Import tax breaks fail to curb costs
The UAE's suspension of import taxes on cement and steel will have little or no impact on prices, according to industry analysts and contractors. -
International firms line up for Abu Qir
Cairo's hopes of increasing its gas exports have been given a significant boost, with international oil companies lining up to submit bids to develop the Abu Qir gas field. -
Kuwait in flux after cabinet walks out
The resignation of Kuwait's Council of Ministers (cabinet) on 17 March threatens to further destabilise the state's political and economic progress and could force the country to hold fresh elections. -
Lack of dollars will delay deals
As the MEED Projects tracker passes the $2 trillion mark for the first time this week, it would be easy for project finance bankers to be optimistic about how resilient their business will be to the turmoil that is affecting financial markets. That would be a mistake. -
Major project financings in the Middle East
MEED lists the Middle East's top projects financings from the year 2006 to date. -
Major project financings in the Middle East
MEED lists the Middle East's top projects financings from the year 2006 to date. -
Oger Telecom shelves plans for mobile phone service
Oger Telecom, the telecoms subsidiary of Saudi Oger, has indefinitely postponed plans to launch a mobile phone service. -
Oil companies lobby Baghdad over future licensing round
Major oil companies have demanded changes to Iraq's first oil bid round since the US invasion, after it emerged that Baghdad is prioritising the development of existing fields on a service-only basis. -
Q&A: Truls Gautesen, CEO, Qatalum
Gautesen looks at the growth in aluminium demand and the smelter’s future expansion plans -
Qatalum
Qatar’s first aluminium smelter project marks the beginning a new, collaborative approach. -
Qatalum: MEED Assessment
Qatar’s first aluminium smelter project marks the beginning a new, collaborative approach. -
Reform boosts Egypt's economic strength
High oil prices and bold economic reforms have insulated the Egyptian economy from global volatility, but further change is needed. -
Resolution to airlines dispute in sight after long haul
After almost two decades, the legal wrangling over compensation for planes stolen by Iraqi forces during the 1990 invasion of Kuwait could be coming to an end as both governments seek to privatise their airlines. -
Rising costs delay projects
Competition for funding in the power sector is growing as rising raw materials prices and tight finance markets increase the cost of much-needed energy schemes. -
Riyadh must end two-tier market
In many respects, Saudi Arabia's liberalisation of its aviation industry has surpassed that of other countries in the region. -
Riyadh puts the markets to work
By requiring major petrochemicals schemes to list 30 per cent of their shares on the Tadawul even before they are completed, the kingdom has found a unique way to raise project finance. -
Riyadh targets $11bn in water savings
Saudi Arabia is aiming to make savings of $11bn from its water network in the latest phase of an efficiency drive, which could include raising tariffs and investing billions of dollars in stopping water leaking from the network. -
Sama investors lose patience over '100 per cent' losses
Sama shareholders are warning that the airline may be forced to close if Riyadh does not act to reduce the carrier's fuel costs and complete the liberalisation of the kingdom's aviation sector. -
Samref plans $2bn Yanbu upgrade
Saudi Aramco and ExxonMobil Corporation have launched a $2bn upgrade of their 400,000-barrel-a-day (b/d) oil refinery at Yanbu in an effort to meet US environmental regulations by 2013. -
Sharia deals enter mainstream
The move towards Islamic financing is growing as the costs are being offset by the expanding funding capacity offered by sharia-compliant project financing. -
Special Report: Banking - Searching for dollars
It is no surprise that international banks dominate MEED’s list of the region’s biggest project finance advisers in 2007. -
Telecoms: Six top managers
The top managers at the six fastest growing mobile phone operators in the Middle East: Ali al-Dahwi, Ahmed al-Shatti, Ross Cormack, Alex Shalaby, Richard Daly, Joseph Jed -
Tight market hits big deals
With dollar liquidity at a new low, it is becoming increasingly difficult to raise financing for the many megaprojects planned in the region.
