MEED
Issue No 21 23 - 29 May 2008
View all stories from this issue.
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El-Seif Group
The Saudi conglomerate is expanding in an effort to combat soaring inflation -
El-Seif Group: MEED Assessment
El-Seif Group will be as challenged by the current inflationary economic climate as any other firm in the kingdom -
Abu Dhabi accelerates $1bn oil and gas projects plan
Abu Dhabi is moving ahead with three major projects, worth almost $1bn in total, which will substantially increase its offshore oil and gas capacity as well as upgrading its existing infrastructure. -
Abu Dhabi bourse seeks $200bn listings
The Abu Dhabi Stock Exchange (ADX) is aiming to attract com-panies with a combined market capitalisation of at least $200bn within two years, according to its chief executive officer (CEO) Tom Healy. -
Algeria's project sector attracts big banks
Algiers signed its largest ever project finance deals in April and at least $20bn worth of further contracts are on the horizon. With growing investment opportunities, international banks are keen to get involved. -
Algiers plans $10bn extension to midstream pipeline network
Project to increase oil and gas transportation capacity by almost 30 per cent. -
Alinma adds to Saudi banking sector’s woes
Banks are already having to cope with the pressures of a lack of human resources and rising costs. -
Alinma Bank: Creating a regional giant
The launch of Alinma Bank is raising concern over the shortage of qualified staff in the financial services sector and the government’s strategy for wealth redistribution. -
Arzew facility set to boost Algerian gas exports
Algeria is set to increase its liquefied natural gas (LNG) export capacity by more than 20 per cent after receiving bids for a major project to build a new LNG train at Arzew on the northwest coast. -
Bader al-Kashti
Bader al-Kashti is chairman and managing director, Kuwait Gulf Oil Company -
Baghdad to limit power of revived Inoc
New oil law will restore Iraq National Oil Company but ministers vow it will be less bureaucratic. -
Bahrain central bank pledges to beat inflation
Bahrain’s central bank governor has vowed to tackle the domestic issues that have contributed to the country’s inflation rate hitting a new record of 5.2 per cent in March. -
Banks take risk on fledgling insurance sector
Following changes in the law to bring competition to the Saudi insurance market, local banks are taking the opportunity to diversify their product offerings and create additional revenue. -
Cairo brings private sector into education
The Egyptian government has invited three Indian IT companies to design courses at some of the country's largest universities, in an attempt to supply tens of thousands of graduates a year to the fast-growing IT industry. -
Cairo to maintain growth ‘at any cost’
Finance Ministry vows to keep GDP growth rate at 7 per cent this year as rising food prices fuel inflation. -
Consortium to pay more than $1bn for Qatar licence
A consortium led by Vodafone, the UK telecoms operator, is to pay more than $1bn for the second mobile phone licence in Qatar. -
Developing the Saudi housing market
Local banks are eagerly awaiting the introduction of a mortgage law as population growth and economic success increase the demand for housing in the kingdom. -
Dewa plans local currency sukuk issue
Dubai Electricity & Water Authority (Dewa) is aiming to return to the capital markets in late May with a dirham-denominated sukuk issue, after pulling a $2.5bn bond late in 2007 because of high pricing. -
Dubai’s underperforming bourse
The Dubai International Financial Exchange is falling behind its rivals as competition grows. -
Emirates NBD considers bid for Hollandi
GCC’s largest bank looks to take 40 per cent stake in Saudi rival to expand its presence in the kingdom. -
Emirates to expand fleet to 500 planes as capacity runs short
A senior official at Emirates Airline says the carrier’s fleet will eventually edge close to 500 aircraft, a fourfold increase on its current size and making it among the world’s largest airlines. -
Farouk al-Zanki
Farouk al-Zanki is chairman and managing director, KNPC -
Gulf exchanges face shake-up
There should be no let-up in moves to adopt higher standards of financial disclosure for listed firms. -
Hard decisions in Qatar are paying off
With record oil and gas prices, Doha could easily sit back and reap the benefits of its previous reforms. Qatar’s overseas investment strategy will act as a fall-back once its oil and gas reserves start running out. -
Korek to invest $400m in national mobile network in Iraq
Move comes despite ongoing talks with UAE’s Etisalat over joint venture. -
Kuwait oil and gas: Six key people
The top six figures in the state’s hydrocarbons sector: Mohammed al-Olaim, Saad al-Shuwaib, Sami al-Rushaid, Farouk al-Zanki, Bader al-Kashti and Mohammed Ahmed Husain. -
Kuwait rail and metro project to be sent for government approval
Study into $14bn scheme to be presented to prime minister ‘within weeks’. -
Kuwait's assembly election boosts Islamists
Kuwait’s parliamentary elections have not delivered the result the government had hoped for and it must now find a way to work with its opponents. -
Mohammed Ahmed Husain
Mohammed Ahmed Husain is deputy chairman and deputy managing director for planning and gas, Kuwait Oil Company -
Mohammed al-Olaim
Mohammed al-Olaim is acting oil and gas minister, Kuwait -
NCB's Abdulkareem Abu al-Nasr on beating the credit crunch
Abdulkareem Abu al-Nasr, CEO of National Commercial Bank, outlines his plans to maintain growth despite the weak dollar, rising inflation and a skills shortage. -
North Africa can compete on gas
A quiet revolution is taking place as Tripoli and Algiers develop plans to increase their hydrocarbons output. -
Oil firms in Egypt plan to cut costs by sharing equipment
Leading international companies operating in Egypt’s oil and gas sector have submitted a request to the government to pool their resources in an effort to fight spiralling inflation. -
Oil majors threaten to cut investment in Eqypt's gas sector
Firms request talks with government over plans to abolish free zone privileges for high energy users. -
Q&A: Khaled Musaed al-Seif, CEO, El-Seif Group
Joint ventures with foreign entities are especially being discussed -
Saad al-Shuwaib
Saad al-Shuwaib is vice chairman and CEO, KPC -
Sami al-Rushaid
Sami al-Rushaid is chairman and managing director, Kuwait Oil Company -
Saudi banking: Confidence begins to return
The performance of Saudi banks is improving after the profit falls of 2007, but inflation and the rising cost of dollar funding remains an impediment to growth. -
Saudi contractors seek international partners as high-rise takes off
Demand for tall buildings set to soar following lifting of height restrictions. -
Special Report: Saudi banking - Results analysis
Saudi Arabia’s banks had a disappointing year in 2007. Although the kingdom’s 11 institutions made $8.1bn in profits in 2007, the figure still represents a 14 per cent fall from $9.4bn in 2006. -
Tax reform is test for Cairo
The Egyptian government says the tax breaks it has introduced should not have come as such a big surprise to companies. -
Yousef Hussein Kamal on tackling inflation in Qatar
The long-standing Qatari minister discusses his plans to develop new industries and tackle rising inflation.
