MEED
Issue No 39 25 September - 1 October 2009
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Abu Dhabi to miss production target
Emirate’s aim of raising oil production to 3.5 million barrels a day is unlikely to be achieved until 2019 -
Jeddah port authorities plan tender for fourth terminal
Singapore’s PSA has completed study for proposed 60 per cent capacity increase -
Oil could cure economic ills in Iran
Ahmadinejad has proved to be a poor steward of the economy. Without improved economic performance, the regime’s opponents are likely to increase -
Overseas Islamic banks require support
If they want their investments to perform better, Islamic banks need to increase the capital base of their UK holdings or push them to consolidate -
Riyadh to introduce commercial courts within 12 months
State-owned Saudi Arabian General Investment Authority (Sagia), which co-ordinates Riyadh’s efforts to attract foreign investment, says the kingdom will introduce a series of economic reforms over the next 12 months to improve the business climate for international firms -
Saudi Aramco seeks best price for Jubail finance
State-owned oil company and France’s Total have secured the banking commitments needed to finance their $9.6bn refinery at Jubail in Saudi Arabia, bankers close to the deal tell MEED -
Saudi regulator to tender tall tower scheme
Capital Market Authority begins prequalifying contractors to build 400-metre-tall headquarters building -
Towers will steal Dubai’s limelight
Most new tower projects are being built not in Dubai but in Jeddah, Doha and Riyadh -
Yemen invites bids for Ras Issa terminal
State-run upstream energy firm Sepoc to replace ageing offshore facility on country’s Red Sea coast -
Abdulhamid Juma
A leading figure responsible for developing free zones in Dubai -
Abu Dhabi Oil Refining Company delays bidding on Ruwais plant
Utility extends commercial bid deadline as it reviews future of power plant expansion -
Bahrain considers delaying Muharraq bid round
Finance Ministry is in talks with advisers about delaying the final bid deadline for contractors vying to develop the Muharraq wastewater treatment plant, sources close to the scheme tell MEED -
Dana Gas
The UAE company is focused on increasing production despite disputes with Baghdad and Tehran -
Dana Gas: MEED Assessment
The company’s strong financial results for 2009 show it is well placed to continue acquiring existing gas projects and industries across the Gulf -
Emerging sharia finance sector beats the downturn
The central tenets of sharia finance stood Islamic banks in good stead during the global economic crisis over the past year, and the sector is now one of the fastest growing in the Middle East -
Energy firms need help from Kuwaiti government
Kuwait Petroleum Corporation has been thwarted at almost every turn by the country’s political infighting -
Expertise shortage hampers growth of Islamic finance sector
The Islamic finance sector has an opportunity to gain a much larger global share, but a lack of scholars able to assess financial products for sharia compliance is holding back the industry -
Groups line up for contracts on Barka and Sohar schemes in Oman
Contractors call for extension to October bid deadline to prepare proposals -
Iran's economic headache
Declining oil revenues rather than UN sanctions are the biggest barriers to economic revival -
Islamic bonds market stages slow recovery
Activity is returning to the Islamic bond sector following the global slowdown, with sovereign issuances rekindling investor confidence and providing a fresh benchmark for pricing debt -
Jeddah port plans must address access
New capacity at port can only function properly if it is matched by land-side transport links -
Kuwait retenders Mina al-Ahmadi refinery deal
Ongoing dispute with KNPC over $700m contract means original winner, SK Engineering, could lose out -
Malek Sultan al-Malek
A leading figure responsible for developing free zones in Dubai -
Non-GCC banks laying the foundations for growth
With rising interest in Islamic finance from Arab consumers and investors outside the Gulf, the regulatory work needed to develop the sector beyond the GCC is slowly being carried out -
Omar bin Sulaiman
A leading figure responsible for developing free zones in Dubai -
Salma Ali Saif bin Hareb
A leading figure responsible for developing free zones in Dubai -
Saudi Aramco to award $300m deal to upgrade storage facilities
State-owned oil company will award a $300m contract to expand 12 bulk storage plants within days -
Special Report: Islamic banking - The top 20 Gulf institutions
Islamic banks may account for only a small proportion of the world banking industry, but these days they are healthier than most of their conventional peers -
Syrian utility selects power plant bidders
The sate-owned Public Establishment of Electricity for Generation & Transmission, has shortlisted two companies to bid for the country’s first independent power project (IPP) -
The MEED List: Dubai Free Zones
The six leading figures responsible for developing free zones in Dubai are: Salma Ali Saif bin Hareb, Rashed Buqaraa, Abdulhamid Juma, Malek Sultan al-Malek, Sheikh Ahmed bin Saeed al-Maktoum and Omar bin Sulaiman -
The West’s Islamic finance hub
London has quickly established itself as the European leader in Islamic banking, but it will need continued support from Gulf institutions if it is to retain its position
