MEED
Issue No 15 11 - 17 April 2008
View all stories from this issue.
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Future Pipe Industries
The Dubai manufacturer is preparing to launch an initial public offering to accelerate overseas expansion -
Q&A, Rami Makhzoumi, CEO, Future Pipe Industries
We have achieved a global leadership position and going public will help us continue to deliver that message -
A shift in the power structure
The Egyptian electricity sector is set for a complete overhaul as Cairo allows in private companies and introduces competition to deliver a much-needed capacity increase. -
Abu Dhabi developer plans Ghantoot city
International Capital Trading to build multi-billion-dollar project covering 60 square kilometres. -
Abu Dhabi plans chemicals city in bid for global stage
Multi-billion-dollar development set to boost emirate’s downstream industry. -
Algiers needs a decision maker to speed up bank privatisation
Clear winners and losers are emerging in the race to privatise North African banks. Over the past 18 months, Libya has quickly moved from having no bank privatisation programme at all to successfully selling stakes in two banks at reassuringly high prices. At the other end the scale, Algeria appears to have made little or no progress. -
Amec to win Upper Zakum consultancy in UAE
Contract to manage increment programme for Zadco will be one of the largest awarded in Abu Dhabi. -
Amman reopens talks on railway
Jordan is in negotiations with the second-placed bidder to build a light railway between Amman and Zarqa, after terminating its agreement with the initial winners. -
Breach reveals conflicting interests
The recent crossing of the eastern frontier by hundreds of thousands of Gazans highlights the challenge Cairo faces in securing its border while demonstrating its support for the Palestinians. -
Cairo puts pressure on firms to meet governance rules
Listed companies will be asked to explain how they comply in annual reports. -
Cairo’s economic dilemma
While the government’s reform programme is boosting the economy, the poor risk being left behind. Can Cairo balance its competing demands? -
Competition is a risk for Abu Dhabi and Dubai
Ask any government official or real estate developer from Abu Dhabi or Dubai whether the two emirates compete and nine times out of 10 you will get the same reply: “We don’t compete, we complement.” -
Dreamliner delay hits expansion plans
Gulf airlines reconsider growth strategies as Boeing postpones delivery of 787s by at least 18 months. -
Dubai to import liquefied natural gas at Jebel Ali port
Emirate will source LNG from Qatar, Egypt and Far East for power generation. -
Firms vie for Abu Dhabi terminal deal
Contract to build midfield airport complex attracts bids from France, Singapore, Germany and Turkey. -
First Calgary pursues gas plans in Algeria despite board dispute
Energy minister warns a successful bid to oust board will endanger deal. -
Funding the search for gas
Cairo is raising the price it will pay to oil companies for gas in a bid to boost deepwater prospecting and underpin economic development. -
Future Pipe Industries: MEED Assessment
The majority of its orders are repeat customers in sectors with major growth potential -
Gas find in Kuwait must be used wisely
Kuwait’s first production of non-associated gas in late March came as a welcome boost for a nation that has suffered because of a lack of gas, both financially and environmentally. But it has a long way to go before it can be called a success story. -
Gas find unlocks options in Kuwait
Kuwait is to accelerate production of non-associated gas in a bid to cash in on crude exports. -
Gulf Air sheds more staff to curb losses
Gulf Air is planning further reductions to its workforce in a bid to cut costs and return the company to profitability. -
Inflation increases pressure for contract model change in Saudi Arabia
Contractors’ bids are coming in up to 40 per cent higher than clients expect. -
Iron ore price hikes hit Gulf steel makers
Steel producers are facing cuts to their profit margins, with customers unwilling to accept the full cost of rising raw materials prices, according to industry executives. -
Khaled Ahmed Abdulrahman Bubshait
A top executive involved in Saudi Arabia’s transport systems -
Korean firms line up for Jubail work
Technical and commercial bids are due to be submitted by 25 April for a major contract to build the grassroots ethylene dichloride (EDC) complex planned by the local Arabian Chlor Vinyl Company at Jubail. -
Kurds seek finance for power projects
Plants will add 1,300MW of generation capacity by 2015 following 1,650MW increase over next 12 months. -
Maaden and Sabic joint venture in Saudi Arabia fails to attract foreign banks
The syndication of the $2.3bn finance on the Saudi Arabian Mining Company (Maaden) joint venture with Saudi Basic Industries Corporation (Sabic) is suffering from weak demand from banks because of low pricing. -
Middle East should not be complacent over economic growth
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. -
North Africa’s big bank sell-off
Despite the global banking crisis, countries of the Maghreb are pushing ahead with privatisation. -
Palestinian National Authority survey probes strength of finance sector
The Palestinian National Authority has launched a survey of the finance and insurance markets in the West Bank and Gaza. -
Patience key to handling inflation in Saudi Arabia
With the dollar at historic lows, price rises in the kingdom are set to continue for some time, but could be helped by a slowdown in the global economy. -
Pressure mounts on government
The ruling National Democratic Party faced strikes, civil unrest and bread shortages in the run-up to local elections on 8 April. But real political change is unlikely in the short term. -
Private finance is priority for Cairo's power capacity
While private investment in the power and water sectors has grown more prevalent in most countries around the region, Egypt has for the most part looked on from afar. -
Privatisation fuels growth
Egypt’s economic liberalisation has helped make the country an attractive market for foreign investors, but more needs to be done to maintain this success. -
Privatisation in Iran stalls progress at Kahnuj complex
Delay is latest sign that Tehran is struggling to secure finance for projects because of US sanctions. -
Riyadh extends Srak drilling deadline for Empty Quarter
Exploration company is granted 18-month extension to complete programme. -
Sabic exits Osos Yanbu negotiations
Saudi Basic Industries Corporation (Sabic) is understood to have pulled out of talks to take a stake in the estimated $1bn polybutylene terephthalate (PBT) complex in Yanbu, planned by the local Osos Petrochemicals. -
Saudi Aramco in negotiations over role at Jizan oil refinery
Project was to be the first in decades to be owned and operated by private sector. -
Special Report: Egypt - Struggling with subsidies
Over the past three years, the aggressive economic reforms of Prime Minister Ahmed Nazif’s government have transformed the Egyptian economy. But they have also upset the political apple cart. -
Special Report: What the IMF's world outlook means for Middle East economy
As the IMF releases its latest World Economic Outlook, MEED looks at the effects of a global downturn on the Middle East.
