MEED
Issue No 49 5 - 11 December 2008
View all stories from this issue.
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Acwa Power consortium submits low bid for Rabigh plant
A consortium of the local Acwa Power International and Korea Electric Power Corporation is the low bidder for the Rabigh independent power project (IPP). -
Ailing Kuwaiti bourse needs transparency
Kuwait’s bid to shore up its exchange is doing little to tackle the underlying weaknesses of its stocks. -
Alfa chief executive officer steps down in Lebanon
The chief executive officer of mobile phone operator Alfa has stepped down amid government accusations that the firm has mismanaged the network. -
Algiers should commit to reform
Foreign banks may be pushing for greater participation in the market, but the results are not encouraging. -
Baghdad to set up state bank to attract oil and gas investors
Authorities consider privatising government bodies that control the sector. -
Banking liquidity shortage triggers Gulf price war
With global financial institutions no longer lending to each other, and loan growth outstripping deposit growth in the region, competition for customers is becoming intense among Gulf banks. -
Banks’ refusal to issue bid bonds undermines tenders in Dubai
Small contractors in Dubai say the banking crisis is compromising the tender process as finance houses become increasingly reluctant to issue bid bonds. -
Competition in mobile phone market will benefit Saudis
Healthy competition has become acrimonious after Saudi Telecom took Zain to the regulator. -
Confidence in Gulf banking sector ebbs away
Gulf banks posted healthy third-quarter results in October, but as the impact of the global financial crisis is felt across the region, the outlook is turning negative. -
Credit crunch tests Algiers’ immunity
While its isolation from the international banking system has largely insulated Algeria from the global financial crisis, its privatisation programme has stalled and falling oil prices are hitting project funding. -
Damascus faces increased scrutiny
A more conciliatory approach to Syria from incoming US President Barack Obama will leave Damascus increasingly exposed. -
Disputes undermine GCC gas supply
The window of opportunity for the Gulf to create a single gas supply network is closing, despite efforts by Saudi Arabia to heal the bilateral rifts that have dogged its development. -
Egyptian regulator to be launched by March
Egypt’s Investment Minister Mahmoud Mohieldin expects the country’s new financial services regulator to be launched by March 2009, as the draft legislation for its creation is poised to be approved by parliament. -
Emaar enters talks with Jafza over industrial zone project
UAE firm and Kuwaiti consortium vie for King Abdullah Economic City scheme. -
Foreign investors shun Saudi stocks
Huge falls in global markets undermine moves to open Tadawul to institutional investors. -
Foster Wheeler wins project management role at Ras Tanura
The US’ Foster Wheeler is to work alongside the US’ KBR to project manage the $22-26bn Ras Tanura refinery upgrade and integrated petrochemicals complex. -
Haya Water
Established to drive the reuse of water in Muscat, the Omani company aims to become profitable by 2014. -
Haya Water: MEED Assessment
Haya Water’s government contracts makes it an attractive and valuable asset when it is eventually put up for privatisation -
International firms line up for acreage in Qatar
Qatar Petroleum (QP) has prequalified at least 10 international oil companies (IOCs) for the second of four gas blocks following the award of Block 4 North to Ger-many’s Wintershall in November. -
Interview with Arab Banking Corporation's Hassan Ali Juma
The new president and chief executive officer of Arab Banking Corporation aims to quickly transform the bank’s funding sources and operating model. -
Interview: Hamad al-Sayari
Saudi Arabian Monetary Agency governor Hamad al-Sayari insists that falling oil prices will not delay projects in the kingdom. -
Iraqi regulator to face challenge over fines
Kuwaiti operator Zain and Qatar’s Qtel are challenging the decision by Iraq’s telecoms regulator to fine them for breaking the terms of their mobile phone licences. -
Kuwait Oil Company to boost output despite oil price falls
KOC invites 18 firms to bid for contract to build $500m gathering centre. -
Modon plans three further city schemes in Saudi Arabia
Modon, formerly the Saudi Industrial Property Authority (Sipa), is to launch three further industrial cities in the kingdom. -
Moroccan banks building a presence in Africa
Faced with increasing competition in their domestic market, Moroccan banks are expanding into poorer states with long-term growth potential. -
Muscat seeks fresh proposals for Sultan Qaboos revamp
Port authority asks bidders to draw up plans for a cruise ship and tourist port. -
Oil falls pile pressure on Tehran
With oil now priced at less than $50 a barrel and Iran’s economy faltering, the policies of President Ahmadinejad are coming under increasing criticism from the state’s political elite. -
Private banks prove their worth in the Gulf
With the reputations of major investment banking institutions tarnished by the financial crisis, Gulf investors are increasingly seeking a safe haven for their money. -
Q&A: Omar Khalfan al-Wahaibi, CEO, Haya Water
Haya’s CEO outlines the company’s expansion plans -
Region is waking up to slowdown
Efforts to create a single currency block in the GCC are a distraction from core domestic issues. -
Regional gas shortage triggers switch to coal
Ras al-Khaimah Investment Authority to request proposals for first coal-fired power plant next year. -
Riyadh plans overhaul of aviation sector
General Authority of Civil Aviation to be broken up, Jeddah airport fast-tracked and airlines created. -
Salalah award faces three-month delay
Client requests 90-day bond extension from contractors after regulator intervenes to probe bidding process. -
Saudi Arabia's Nas makes executive changes
National Air Services (Nas) has appointed new chief executive officers (CEOs) for the group and its low-cost airline, Nas Air, in the latest round of managerial changes in Saudi Arabia’s troubled budget aviation sector. -
Saudi aviation reform is long overdue
The kingdom’s aviation infrastructure compares poorly with that of its regional peers. Certain issues are too pressing to wait for the good times to return. -
Saudi Telecom reports rival over international call rate
Operator questions legality of low tariff offered under Zain’s One Network deal. -
Special Report: Banking - Private banks beat financial turmoil
Private banking is staging a comeback. The Gulf’s first oil boom in the 1970s prompted the region’s wealthy individuals to put their profits into Europe’s private banks. -
State developers in Dubai exempt from ring-fencing legislation
Lawyers identify loophole in accounting rules intended to protect investors. -
Trump Tower delay in Dubai shatters confidence
Dubai contractors fear no project is safe following announced postponement of high-profile scheme. -
Trump Tower delay in Dubai signals failure
The cranes on top of skyscrapers that once symbolised the city’s stunning development will now emphasise how things have changed. -
UAE shopping malls
Six key players leading the development of the UAE’s retail sector: Majid Saif al-Ghurair, Majid al-Futtaim, Anders Moberg, Jim Badour, Ilyas Galadari and Graham Dreverman.
