MEED
Issue No 17 24 - 30 April 2009
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Aramco brings forward Yanbu joint venture plan
State oil giant Saudi Aramco is fast-tracking its plans to restrict some engineering and construction contracts to international contractors that create joint ventures with local firms. -
Alinma Bank
The newcomer to the Saudi financial sector is already the kingdom’s largest bank by capital base. -
Alinma Bank: MEED Assessment
Unlike many banks, it has the advantage of a fresh balance sheet with no bad assets, but its real test will be the launch of its retail division -
Baghdad faces fall in oil production
Poor management of southern oil fields expected to lead to 10 per cent decline in total output. -
BNP Paribas leads advisory team on $6.4bn Jordanian rail link
The rail track will run between Aqaba port and the Syrian border via Amman. -
Clients to award five key Abu Dhabi hotel deals
Developments will bring 1,700 hotel rooms onto the market, helping Abu Dhabi achieve its target of 25,000. -
Contractors submit bids for Jubail refinery packages
International contractors are bidding for several of the largest process packages on the Jubail export refinery being developed by a joint venture of Saudi Aramco and France’s Total. -
Dubai to prioritise payments to favoured contractors
Dubai will only settle debts with contractors it wishes to work with in future, despite receiving $10bn from the Central Bank of the UAE to meet its obligations, according to sources close to the distribution of the rescue package. -
Gas is key to smelter plans in Gulf
The Gulf has a solid outlook for aluminium production despite the slowdown in global demand and cuts in European and US output. -
Gulf states race to industrialise
Countries around the region are increasingly focusing on building up their manufacturing capabilities as a means to diversify their economies and gain protection from imported inflation. -
International firms compete to manage Ruwais upgrade
Three international firms are bidding for the project management consultancy contract on the $3bn project to boost capacity at the Ruwais petrochemicals plant in Abu Dhabi. -
Iraq must fix falling oil output
A sense of unease is growing about the performance of Iraq’s oil fields. -
Islamic banks risk losing ground
Once conventional banks emerge from their problems, Islamic banks will struggle to keep up. -
Kuwaiti public sector awards to ease cash crisis
National Bank of Kuwait says contractors will benefit from a series of major projects going ahead this year. -
Masdar invites bids to build energy-efficient Abu Dhabi headquarters
Abu Dhabi developer Masdar is inviting contractors to submit technical proposals by 17 May for the contract to build its headquarters in Masdar City. -
Noor delays Cedar island project
Construction work on Lebanon’s $8.2bn man-made Cedar island project will be delayed until after the country holds its parliamentary elections on 7 June. -
Oman ports
Six key figures leading the growth of Oman’s ports industry are: Khamis bin Mubarak al-Alawi, Jaap van Dalen, Martijn van de Linde, Darwish bin Ismail al-Balushi, Qassim Ahmed Abdul Mohsin al-Shizawi and Saud bin Ahmed al-Nahari. -
Optimism returns to Islamic banks
MEED survey shows sector is still growing and sharia-compliant institutions are well placed for recovery. -
Private firms will usher in new era in Saudi
Bringing in the private sector is critical if the kingdom is to become competitive in the long term. -
Private sector to expand and operate Medina International in Saudi
Airport will be the first in the kingdom to be developed under a public-private partnership deal. -
Ras Tanura refinery faces 12-month delay
Saudi Aramco informs contractors that bidding process for the project will be on hold for up to a year. -
Region’s aluminium smelters buck the trend
Low-cost energy supplies and raw materials are enabling aluminium producers in the Middle East to invest in new facilities while their global competitors cut production. -
Regional conference sector defies the downturn
Middle East economies, particularly Dubai, have worked hard to establish themselves as global centres for business events, and the investment continues even as the global economic slowdown hits the sector. -
Regional hotels turn to alternative markets
Empty aircraft seats and discounted hotel rooms have characterised the global tourism market over the past six months, as the global credit crunch has kept business travellers and tourists at home. -
Regional hotels turn to alternative markets
Empty aircraft seats and discounted hotel rooms have characterised the global tourism market over the past six months, as the global credit crunch has kept business travellers and tourists at home. -
Regional low-cost tourism sector offers rewards
The evolution of the region’s budget hotel sector is speeding up with the arrival of international groups. -
Royal Jordanian seeks to take advantage of low oil prices
National carrier considers three-year hedging strategy to lock in cheap fuel. -
Saudi Arabia's Maaden expands its operations
With a solid track record in gold mining, the Saudi company is developing its bauxite and phosphate reserves as it seeks to become a global supplier of aluminium and fertilisers. -
Sohar urea plant to start production
The local Sohar International Urea & Chemical Industries Company will finally switch on its $638m urea and ammonia plant in Sohar at the end of April, more than one year later than planned. -
Special Report: Hotel Investment & Tourism - Budget brands expand
The Middle East’s hotel industry has enjoyed startling growth over the past few years. According to global business advisory firm Deloitte Touche Tohmatsu, hotels have recorded a five-year run of double-digit growth in revenue per available room - a key indicator of profit. -
Special Report: Metals & Mining - Gulf defies slump in metals and mining markets
Saudi Arabia’s plans for the aluminium industry, which encompass every stage in the supply chain from mine to smelter, will be a rare example of integrated production in the Gulf. -
Trends: Regional rig numbers show drop in demand
Hiring rates for oil and gas drilling rigs are set to drop as the number in use in the region falls. -
Trends: Regional rig numbers show drop in demand
Hiring rates for oil and gas drilling rigs are set to drop as the number in use in the region falls. -
UK bank to sell off Gulf retail assets
Royal Bank of Scotland to dispose of Middle East branch network as it seeks to restore financial stability.
