MEED
Issue No 47 21 - 27 November 2008
View all stories from this issue.
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Algiers Metro on track to open to public in summer 2009
The Algiers Metro is set to begin operating in the summer of 2009, with the final stages of the project’s civil works and equipment installation on schedule for completion by the end of 2008. -
Arab Banking Corporation cuts investment banking team
The local Arab Banking Corporation (ABC) has laid off five members of its investment banking team as a result of the slowdown in activity in financial markets and the bank’s new focus on growing its retail banking business. -
Aramco plans Manifa production boost
State oil giant conducts study on increasing output levels at the field despite contractor price talks. -
Baghdad to approve transport overhaul
Baghdad is to approve a series of national transport projects worth several billion dollars over the coming months. Aviation, maritime and rail projects are due to be cleared by the Iraqi Planning Ministry in early 2009, with feasibility studies set to get under way by the middle of the year. -
Baghdad to invest $510m in nationwide homes initiative
Deputy minister admits 15,000 additional housing units will not meet demand. -
Changing the shape of the Gulf
With a new wave of offshore islands under construction, lessons are being learned from the first such projects, with Dubai leading the way in developing new techniques. -
Doha pushes ahead with plan for two petrochemicals plants
Multi-billion-dollar investment comes despite falling demand for plastics. -
Dredgers struggle with falling activity in Gulf
After seven years of record workloads, dredging companies that have expanded on the back of the Gulf real estate boom face a dramatic reduction in work as project finance dries up -
Easing the capacity crunch at Gulf ports
Gulf states are racing to catch up with growing demand at their ports, with a series of major developments aimed at expanding capacity and bringing overdue modernisation. -
Firms line up for Sheikh Zayed tower
Meraas Development is moving ahead with plans to build a high-rise office building on Sheikh Zayed road. -
Four firms bid for Fertil urea contract as Jubail project stalls
The UAE’s Ruwais Fertiliser Industries (Fertil) expects to attract four bids for the contract to expand its urea-based fertiliser complex next month, while plans for a fifth urea train at Saudi Arabia’s Jubail fertiliser complex are being re-evaluated. -
Gaddafi gives mixed messages
Opposition to the Libyans leaders’ plans to disband its ministries is a sign that he may abandon the strategy. -
Giant waterway scheme begins
With excavation work having started on the first phase of Dubai’s 75km Arabian Canal, contractors are battling it out to win the project’s second earthworks package. -
Gulf hotels catch up with demand
Despite the global slowdown, the region is investing heavily in hotels to cater to growing visitor numbers. -
Gulf ports struggle as traffic increases
Jebel Ali operator DP World has raised charges in an attempt to clear long delays and bottlenecks, as the Gulf’s port infrastructure comes under pressure from growing demand. -
Interest in Kuwait's Subiya causeway dwindles
Kuwait to push ahead with project despite the number of bidders being halved and costs doubling. -
Iraq ministry to put fourth mobile telecoms licence out to tender
Communications Ministry will assess bids on quality rather than price. -
It is time for construction contractors to return to Iraq
Dubai’s construction boom is rapidly slowing as the global credit crisis hits the Gulf. Iraq could again offer the region’s contractors the best opportunities. -
Jizan set to award Saudi city contracts
Jizan Economic City is set to award several key contracts in the coming months, in a sign that progress continues to be made on the project despite speculation that the kingdom’s economic city programme could be affected by the global credit crunch. -
Kuwait bourse rescue fails to impress investors
International financiers remain cautious of Kuwaiti stocks despite government intervention. -
Kuwait Oil Company invites bids to boost output
Kuwait Oil Company (KOC) has invited contractors to bid for phase two of its early production facility (EPF) project, which will more than triple output from its gas fields by 2011. -
Levant business leaders
Six of the Levant’s most influential business leaders: Saeb Nahas, Said Khoury, Najib Mikati, Khaled Shaheen, Bahaa Hariri and Munib Masri. -
Listed telecoms firm hit with 40 per cent charge on profits in Iran
Tehran will levy a 40 per cent charge on profits at Telecommunications Company of Iran (TCI) until March, despite expectations that the fee would be waived after the company was partially privatised earlier this year. -
Marafiq delays Yanbu bid deadline
The Power & Water Utility Company for Jubail & Yanbu (Marafiq) is extending the bid deadline for the Yanbu independent water & power project (IWPP) into the new year, with the possibility of postponing it further. -
Nakheel seeks to raise $1.4bn through securitisation deal
Developer will ring-fence proceeds of future land sales as security for debt. -
Oversupply hits materials producers in the region
As the global credit crisis begins to have an effect on the Middle East construction sector, demand for materials is decreasing, leading to falling prices and the risk of oversupply. -
Oversupply hits materials producers in the region
As the global credit crisis begins to have an effect on the Middle East construction sector, demand for materials is decreasing, leading to falling prices and the risk of oversupply. -
Pay rises will be too late for many labourers in GCC
Firms are grappling with a downturn in Gulf markets, meaning large-scale lay-offs are increasingly likely. -
Real estate contagion spreads in the Gulf
As property prices in Dubai tumble, other Gulf states are beginning to suffer the effects of the slowdown. -
Reducing credit has hidden cost in UAE
If the central bank puts pressure on banks to slow lending, economic growth could suffer, particularly in Dubai, where people rely on debt. -
Regional offshore opportunities increase
Oil rig construction may not capture headlines in the same way as the iconic Palm islands, but the regional drive to meet global energy demand offers specialist contractors a wealth of work. -
Sama Dubai reins in development plans
Developer reviews portfolio of unannounced projects as global slowdown restricts available funding. -
Signs of dissent emerge in Libya
Clashes in the southern town of Kufra are the latest example of growing opposition to the rule of Libyan leader Muammar Gaddafi. -
Slowdown halts soaring pay in GCC
While workers’ pay has flatlined in most of the region’s construction markets, competition for labour means it is continuing to rise in some GCC states. -
Special Report: Construction - Marine projects drive market
After years without significant investment in ports, many of the region’s governments are now prioritising the development of their port infrastructure. -
Spending spree is not the solution
The central bank could restore confidence more quickly by enforcing stringent disclosure. -
UAE central bank seeks to curtail lending
UAE institutions urged to boost deposits and cut loans to improve the Emirates’ banking system. -
Zain
The launch of the Kuwaiti telecoms operator’s Saudi operation is the latest step in its expansion strategy. -
Zain: MEED Assessment
Africa offers huge long-term potential, but in the near term, its Saudi Arabian business represents the greatest challenge
