MEED
Issue No 37 12 - 18 September 2008
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Abu Dhabi fast-tracks civic centre plan
Capital district development will include retail and residential units as well as government offices. -
Abu Dhabi's ambitious construction plan will help locals
The capital district could create work for many local contractors.The development will be the UAE’s answer to Paris’ Champs-Elysees. -
Algiers reins in foreign ownership
President Bouteflika’s plans to limit the activities of overseas firms will undermine economic reform. -
Alternative investments: New sharia-complaint products tap rising demand
Alternative asset classes are widening the Islamic investment pool, but most new funds are likely to continue focusing on equities, leaving investment in cutting-edge products to the specialists. -
Doha increases diplomatic influence
Qatar’s presence at the Damascus summit highlights its growing role in regional affairs as Washington and Riyadh shift their focus to domestic matters. -
Doubts surface over Qatar Petroleum's Ras Laffan complex
Rising feedstock prices and a shortage of supplies are delaying the expansion of Qatar Petroleum’s giant petrochemicals complex and threatening the state’s plans to become the dominant force in the sector. -
Foreign funds increase exposure to the region by $1bn
Foreign investment funds have boosted their exposure to the largest stock markets in the Middle East and North Africa by more than $1bn in the first seven months of the year, following the downturn in Western bourses. -
Gulf Finance House redefines the role of banks
GFH aims to capitalise on the growth of the Islamic banking sector and boost the regional economy with the launch of two sharia-compliant investment institutions. -
Increase in steel imports to relieve pressure on prices in Saudi
Contractors in Saudi Arabia are optimistic that a rise in steel imports will lead to falls in the price of steel. -
Iraqi and Kuwaiti avaition sectors need each other
The future of aviation in Iraq and Kuwait lies in co-operation, and both sides must swallow their pride. -
Iraqi compensation offer fails to break deadlock in talks
National airlines and politicians meet to resolve dispute over looted planes. -
Islamic banks funding the construction boom
With global credit markets contracting, regional Islamic banks are filling the financing gap for the Gulf’s major developments left by shrinking traditional funding sources. -
Islamic banks must address risk
The dearth of Islamic financial tools available to hedge GCC currencies means spreading risk is not easy. -
Islamic finance: Moving into the mainstream
From a niche market just a few years ago, the Islamic finance sector is set to be worth $4 trillion within five years as demand for sharia-compliant products soars. -
Mubadala considers listing divisions
Abu Dhabi investment vehicle could float offshoots on local bourses to drive expansion plans. -
Nawras
Oman’s only private telecoms company faces a challenge in the form of further market reforms -
Nawras: MEED Assessment
New competition poses a challenge for Oman’s leading telecom company -
New Doha airport faces two-year delay
Upgrade of service facilities forces contractors to reschedule completion of phases 1 and 2 on $11bn project. -
Noor a new force in Islamic banking
NIB is planning a multi-billion-dollar spending spree to help it achieve its goal of becoming the world’s largest sharia-compliant financial institution within five years. -
Old guard holds back Algerian economy
Bouteflika’s fortunes are dependent on an old guard of revolutionaries who undermine hope of reform. -
Project finance deals should be staggered
Careful planning and management will be needed to successfully raise more than $20bn from the debt markets in the next few months. -
Project sponsors seek $20bn in funding
Developers to approach the debt markets with series of financing requests in the final quarter of 2008. -
Q&A: Ross Cormack, CEO, Nawras
Government introduction of resellers puts pressure on build-out plans -
Qatar Islamic Bank building a global network
QIB is establishing an international group of standalone Islamic banks that it claims will be capable of competing with conventional finance houses. -
Regional aviation
Six senior figures in the civil aviation regulation sector: Fawaz al-Farah, Abdullah Rehaimi, Khalifa Mohamed al-Mazrouei, Abdulaziz al-Nuaimi, Abdulrahman Mohammed al-Gaoud and Suleiman Obeidat. -
Risk management moves up on Islamic banks' agenda
Islamic banks are following the mainstream institutions in seeking to spread their risk, but have far fewer financial tools available to them. -
Riyadh set to wind up rail regulator
Process of replacing Saudi Railways Organisation with new regulatory body will begin in October. -
Riyadh to sign tower deals worth $10bn
Design and build contracts for King Abdullah Financial District to be awarded by the end of September. -
Royal Bank of Scotland relocates finance team to Dubai
Royal Bank of Scotland (RBS) is planning to relocate some of its project finance expertise to Dubai as part of a wider plan to build up its global banking capabilities in the region. -
Shell to extend gas deal with Baghdad
The UK/Dutch Shell Group expects to expand its initial agreement with Iraq’s South Gas Company for the development of associated gas in the southern region into a 20-year deal following cabinet approval from Baghdad in early September. -
Special Report: Banking - The rise of Islamic finance
Since questions were raised earlier this year over the compliance with sharia law of a common form of sukuk (Islamic bond), doomsayers have warned of the impending demise of Islamic finance. -
Steel prices take a tumble in the GCC
Mass stockpiling has led to a fall from the summer peak in rebar prices as demand drops off. -
Syrian Telecommunications Establishment to begin talks over licences
Negotiations with MTN Syria and Syriatel over conversion of build-own-operate contracts set for December. -
Tehran to decentralise sale of crude
Petroleum Ministry signs controversial deal with political and economic foundation to sell oil. -
Telecoms sell-off delays creation of a markets regulator in Lebanon
The creation of an independent capital markets regulator in Lebanon will be delayed until the government of national unity approves the sale of its two state-owned mobile phone companies, according to a senior executive at one of Lebanon’s largest banks. -
The evolution of Islamic bonds
While sukuk issuance has fallen by 50 per cent since the start of the year, confidence in the sector remains high despite some doubts over the product’s compliance with sharia principles. -
U-turn on foreign investment stalls progress at Beni Saf
Dubai Aluminium (Dubal) and Abu Dhabi-based Mubadala are in talks with Algeria over the ownership structure for the Beni Saf aluminium smelter, following changes to the country’s investment law.
