MEED
Issue No 42 17 - 23 October 2008
View all stories from this issue.
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Amman forecasts fall in budget deficit as revenues rise
Amman’s budget deficit for 2008 is set to fall following an increase in revenues, a senior official at the Finance Ministry tells MEED. Test -
Amman forecasts fall in budget deficit as revenues rise
Amman’s budget deficit for 2008 is set to fall following an increase in revenues, a senior official at the Finance Ministry tells MEED. -
Arabtec Construction and Aktor negotiates to build Abu Dhabi clinic
A joint venture of the local Arabtec Construction and Greece’s Aktor is in exclusive negotiations over the contract to design and build the AED7bn ($1.9bn) Cleveland Clinic in Abu Dhabi. -
Aramco fast-tracks upgrades at Manifa and Dammam
Planned production increase at Shaybah field to be postponed because of cost. -
Aramco to build Saudi Arabia's first cinema
Project will form part of a cultural centre in the Eastern Province to mark state oil firm’s 75th anniversary. -
Baghdad forces oil majors to form consortiums with rivals
Oil Ministry warns standalone bids will not win favour in licensing round. -
Banks seek to revise Ras al-Zour finance
Lead arrangers enter talks with project sponsor and seek assistance of local banks for $1.5bn syndication. -
Cairo moves to protect ailing economy
Authorities act to protect Egyptian businesses from the worst effects of the global slowdown. -
Cairo needs to find economic balance
The economic liberals who run Egypt’s government have decided that state intervention is the best way to mitigate the slowdown. -
Dewa to launch feasibility study for coal-fired plants
Germany’s Lahmeyer in line to assess potential sites at Hassyan and Lehbab. -
Dubai Metro faces $1bn budget overrun
Building Red and Green lines by September 2009 deadline is set to cost 30 per cent more than planned. -
Dubai risks taking on too much debt
The scale of the emirate’s debt is becoming a concern as major markets are flirting with recession. -
Energy majors will have to collaborate in Iraq
Given Iraq’s potential, oil majors are unlikely to be put off by political wrangling or contractual hurdles. -
Financing for Salalah in Oman faces delay to 2009
Financing for the $1bn Salalah independent water and power project is unlikely to be launched before 2009, according to one of the leading bidders for the scheme. -
Firms line up for Jebel Ali Port work
DP World has received bids for two construction packages for the Terminal 3 project at Jebel Ali Port. -
Foreign firms maintain local ties in Saudi Arabia
While directly investing in Saudi Arabia has become easier for foreign companies since a change in investment laws, the benefits of local relationships mean few are prepared to strike out on their own. -
Global crisis topples Cairo bourse
Egypt’s stock exchange has fallen faster than any other in the region during the current downturn. -
Gulf defies the global slowdown
Growth in the region will remain strong in 2009 despite a fall in oil revenues. -
Gulf petrochemicals producers weather price slump
As polyethylene prices continue to fall, fears mount that capacity will soon start to outstrip demand. -
Inside Saudi's business elite
MEED profiles 15 of Saudi Arabia’s leading merchant families and examines how their business activities are evolving in today’s more competitive and open economy. -
Kuwait Airways
As the national carrier prepares for privatisation, the Gulf market is becoming increasingly competitive -
Kuwait Airways: MEED Assessment
State-owned carrier continues to seek compensation from Iraq -
Ministry invites firms to bid for King Khaled University work
The Higher Education Ministry is inviting firms to bid by the end of November for a SR5bn ($1.3bn) contract at King Khaled University in the south of the kingdom. -
National Commercial underwrites $373m Saudi steel plant deal
National Commercial Bank (NCB) is to underwrite SR1.4bn ($373m) in project finance for Saudi Arabia’s Al-Tuwairqi Group to build a steel plant in the kingdom. -
Qatar petrochemicals
The six key players leading the development of Qatar’s petrochemicals industry are: Prince Abdullah bin Hamad bin Khalifah al-Attiyah, Yousef al-Mulla, Mohammad al-Sherawi, Hamad Rashid al-Mohannadi, Khalifa Abdullah al-Suwaidi and Abdullah Hussain Salatt. -
Region can live with falling oil
Oil demand is still growing faster than producers can supply it. The region can not only live with a correction, but can thrive on it. -
Regional airlines turn to export credit agencies
Middle East carriers will increasingly rely on foreign agencies as other forms of financing dry up. -
Regional carriers enter talks with regulators over cutting costs
Discussions focus on re-routing flights to reduce fuel bills and avoid collapse. -
Riyadh invites bids for air base tunnels
The Arriyadh Development Authority has invited at least four local contractors to bid by the end of November for a SR3bn ($800m) road project in Riyadh. -
Riyadh outsources health provision
Private firms are being invited to run the kingdom’s hospitals as part of a radical reform of healthcare. -
Riyadh to award billion-dollar rail deals
Deadline approaches for retendered construction package on North-South minerals railway. -
Saudi conglomerates opt for specialisation
The traditional Saudi business is moving away from the philosophy of trading in ‘anything and everything’ towards greater specialisation as the kingdom’s economy becomes more competitive. -
Saudi family firms grapple with succession
As the kingdom’s stock markets mature and regulation increases, family-owned businesses face increasing scrutiny over issues such as governance and succession planning. -
Saudi family firms need specialist skills
Globalisation is bringing change and specialisation is becoming a feature of the kingdom’s market. -
Saudi Telecom to compete with Zain for Omantel stake
The Middle East’s largest telecoms operator, Saudi Telecom, will compete with Kuwaiti mobile operator Zain in the auction for a 25 per cent stake in Oman’s state-owned operator, Omantel. -
Special Report: Saudi Arabia - Family firms enter a new era
The decision of the Saudi stock exchange (Tadawul) in August to reveal the names of all individual shareholders with a stake of more than 5 per cent in any single company may not have revealed the full picture of Saudi families’ strategic investments. -
Tehran makes a U-turn on value added tax
Striking merchants have forced Tehran to suspend a new tax, reducing the sources of revenue for President Ahmadinejad. -
The evolution of charitable giving in Saudi Arabia
A new generation of wealthy Saudis are changing philanthropy in the kingdom by eschewing simple donations in favour of spending more strategically to achieve their goals.
