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MEED
January 1999

View all stories from this issue.

  • A History of Middle East Economies in the Twentieth Century

    NEWS
  • Airbus leads Boeing in Middle East

    NEWS
  • Airbus leads Boeing in Middle East

    The European consortium Airbus Industrie said on 11 January that it won 556 firm orders worth $39,000 million in 1998, a 20 per cent increase on the previous year. The figure includes 17 orders from the Middle East. Airbus rival The Boeing Company of the US announced earlier that it had won 656 new orders last year.
  • ALGERIA

    Turbine spares
  • ALGERIA

    Energy rationing
  • ALGERIA

    Soft drink machines
  • ALGERIA

    Food rations
  • ALGERIA

    Brick machine
  • ALGERIA

    Copying paper
  • ALGERIA

    Cast iron pellets
  • ALGERIA

    Truck mounted skiffs
  • ALGERIA

    Cold meals
  • ALGERIA

    Centrifugal pumps
  • ALGERIA

    Computer back-up protectors
  • ALGERIA

    Tubes
  • ALGERIA

    Tool boxes
  • ALGERIA

    Equipment
  • ALGERIA Arab Contractors to build new Finance Ministry

    Egypt's Arab Contractors (Osman Ahmed Osman & Company) signed a contract on 22 December worth $74 million to build a new complex to house the Finance Ministry in Algiers, the company says. The first downpayment of 15 per cent is due to be made in February and building is expected to begin soon after. The Egyptian firm will work with local subcontractors.
  • ALGERIA Arab Contractors to build new Finance Ministry

    NEWS
  • ALGERIA Buyers shortlisted for privatisation sales

    NEWS
  • ALGERIA Election candidates named

    NEWS
  • ALGERIA Hamdani announces new cabinet

    NEWS
  • ALGERIA IN BRIEF

    NEWS
  • ALGERIA IN BRIEF

    Desert Aviation Company, the country's second private aviation company, has been authorised by the government. It will be limited to internal flights.
  • ALGERIA IN BRIEF

    NEWS
  • ALGERIA: Anadarko plans new projects despite Sonatrach dispute

    Houston-based Anadarko Petroleum Corporation has announced increased production and plans new projects on the Algerian acreage it holds with its partners, UK independent Lasmo and Denmark's Maersk Oil & Gas. One field is now producing at 55,000 barrels a day (b/d) and state energy company Sonatrach is assessing commerciality reports on nine finds which could take output to over 300,000 b/d in the next five years.
  • ALGERIA: IN BRIEF

    The Saudi Fund for Development has agreed to lend the government $22 million to help finance a new power plant for Algiers. The
  • ALGERIA: IN BRIEF

    Two European manufacturers, France's Renault Vehicules Industriels and Germany's MAN, remain in talks to build a new production plant for the state heavy vehicles manufacturer Entreprise Nationale de Vehicules Industriels (SNVI), according to reports from Algiers. Investment proposals taking SNVI into the private sector have previously been called for, with South Korea's Daewoo Corporation expressing an interest in taking over the Rouiba- based company.
  • ALGERIA: IN BRIEF

    France's Brun Freres has been awarded a $6.7 million contract, financed from the World Bank's first petroleum project loan, to supply casing chrome equipment.
  • ALGERIA: IN BRIEF

    NEWS
  • ALGERIA: IN BRIEF

    News
  • ALGERIA: Opposition to Bouteflika mounts

    The presidential election campaign has heated up with political parties forming two main camps: those supporting the candidate of choice of the military establishment and those opposed to him.
  • ALGERIA: Opposition to Bouteflika mounts

    NEWS
  • ALGERIA: State banks buy 60 per cent of privatised cereals firm

    The sale of 1 million shares has raised AD 2,300 million ($38 million) in Algeria's first initial public offering, intended to increase the capital of cereals processor Eriad-Setif (MEED 22:1:99).
  • ALGERIA: State banks buy 60 per cent of privatised cereals firm

    News
  • Arab reaction to Iraq raids muted

    NEWS
  • Arabsat prepares to launch new satellite

    NEWS
  • Arabsat prepares to launch new satellite

    The Arab Organisation for Satellite Telecommunications (Arabsat) is planning to launch the first of its third generation satellites (3A) on 3 February.
  • BAHRAIN

    A fall of over 2 per cent early in the week was recouped during a slow week, with the Bahrain Stock Exchange index closing
  • BAHRAIN Budget deficit to double during 1999-2000

    NEWS
  • BAHRAIN Budget deficit to double during 1999-2000

    Finance & National Economy Minister Ibrahim Abdel-Karim said on 30 December that the two-year budget for 1999-2000 is forecast to have a deficit of BD 320 million ($842.1 million), more than double the BD 150 million ($394.7 million) budgeted for in 1997-98. 'The 1999-2000 budget was prepared amid very difficult circumstances due to the deterioration in oil prices and hence a difficulty in estimating expected oil revenue in the next two years,' he said.
  • BAHRAIN IN BRIEF

    Bahrain Petroleum Company (Bapco) is expected to appoint a contractor for front end engineering and design (FEED) work on its 250,000-barrel- a-day oil refinery before the end of January. Bapco has completed the specifications for the FEED contract and will also choose a financial adviser for the loan to facilitate the upgrade in January
  • BAHRAIN IN BRIEF

    NEWS
  • BAHRAIN IN BRIEF

    NEWS
  • BAHRAIN Low bidders take Zayed housing project

    The local Aradous has been awarded the fourth construction package on the Zayed Town project, placing the lowest bid at BD 940,128 ($2.5 million) out of 16 submitted by local groups for the building of 42 villas. The client, the Defence Ministry, will also award the fifth package to Aradous, calling for the construction of 53 villas. The BD 1.22 million ($3.2 million) bid was again the lowest out of 16 submissions.
  • BAHRAIN Low bidders take Zayed housing project

    NEWS
  • BAHRAIN: Bids invited for new causeway

    News
  • BAHRAIN: Bids invited for new causeway

    The Works & Agriculture Ministry has given contractors until 28 January to pick up prequalification applications for the construction of Sheikh Khalifa Bin Sulman Causeway. It has set a 24 February deadline for the submission of applications, available from the consultant, the UK's Hyder Consulting.
  • BAHRAIN: Citibank picked as Bapco refinery adviser

    NEWS
  • BAHRAIN: Citibank picked as Bapco refinery adviser

    The US' Citibank has been appointed as the financial adviser by Bahrain Petroleum Company (Bapco) for the upgrade of its 250,000-barrel-a-day refinery. The bank has been given the mandate to put in place a financing package for the project, estimated to cost about $450 million. It is expected to finalise a transaction over the next three to six months (MEED 8:1:98).
  • BAHRAIN: IN BRIEF

    News
  • BAHRAIN: IN BRIEF

    NEWS
  • BAHRAIN: IN BRIEF

    The US' Skidmore Owings & Merrill is preparing the design for a new headquarters for Citibank in the Seef area. The nine-storey building, estimated to cost BD 10.3 million ($27 million), will be built next to Al-A'ali shopping complex. The local Mohammed Salahuddin Consulting Engineering Bureau (MSCEB) will supervise the construction work, while Manama-based Baker Wilkins & Smith (Middle East) will be quantity surveyor. The construction tender is expected to be issued during the second quarte
  • BAHRAIN: IN BRIEF

    The local Technical Construction Company has started work on a BD 1.8 million ($4.7 million) contract to build the new public health laboratory at the Health Ministry complex in Sulamaniya. The project is being financed by the Kuwait Technical Office. The four-storey building will take 18 months to complete.
  • BAHRAIN: IN BRIEF

    The local Al-Hassanain Company has been issued a letter of intent by the Defence Ministry for the seventh package on the Zayed Town project after it submitted the lowest bid of BD 1.26 million ($3.3 million). The package, scheduled to be formally awarded in March, calls for the construction of roads, sewerage, drainage, water and power networks and the installation of street lights. Two other construction packages, five and six, are due to be awarded in February after bids were submitted in m
  • BAHRAIN: Profits edge up at Al-Ahli Commercial Bank

    Net profits at Al-Ahli Commercial Bank went up by 1.5 per cent to BD 6.5 million ($17.1 million) in 1998. A 27.5 per cent dividend has been recommended compared with 25 per cent in 1997.
  • BAHRAIN: Profits edge up at Al-Ahli Commercial Bank

    News
  • BAHRAIN: Profits up, assets down at NBB

    Net profits at National Bank of Bahrain (NBB) rose marginally to BD 15.25 million ($40 million) in 1998 compared with BD 15.11 million ($39.7 million) the previous year. The board of directors has recommended a 27.5 per cent dividend, the same as last year.
  • BANKING: Monetary authority

    NEWS
  • BANKING: Monetary authority

    The development of a national financial system was one of the earliest administrative challenges addressed by King Abdulaziz. On 24 January 1928, he established an independent monetary system based on the Saudi riyal, then a silver coin about the size of a US silver dollar and valued at one-tenth of a British sovereign, a gold currency. Following the creation of the unified kingdom of Saudi Arabia in 1932, a new riyal coin was issued valued at about one dollar to 3.75 riyals, which, remarkabl
  • BANKING: The making of a financial giant

    NEWS
  • BANKING: The making of a financial giant

    AT the start of 1999, Saudi Arabia has 11 commercial banks with combined assets of more than $100,000 million, making the kingdom's banking industry the largest in the Middle East by a considerable margin. Government savings invested internationally are estimated to be worth at least $50,000 million, and the kingdom is permanently represented on the executive board of the IMF and World Bank. Despite the depredations of the past decade, Saudi Arabia remains a financial force to be reckoned wit
  • Barclays completes team for Taweelah A-2 loan

    Barclays Capital is understood to have finalised the list of co- underwriters to arrange the loan for Abu Dhabi's first independent water and power project (IWPP), Taweelah A-2. The banks are ANZ Investment Bank, Societe Generale, Banque Paribas, Gulf International Bank, Union National Bank, Norddeutsche Landesbank Girozentrale, Westdeutsche Landesbank and Abu Dhabi Investment Company (ADIC). Two other Abu Dhabi banks are also expected to participate. The shortlisted banks are now working to
  • Bears keep oil on a tight rein

    Oil prices were steady in the second week of January as markets were unaffected by US attacks on Iraqi radar installations and talk of an early OPEC ministerial meeting. Spot prices have rebounded by nearly $2 a barrel since mid-December but are suffering from bearish sentiment about short- term prospects and the high level of inventory, particularly in the US.
  • Bears keep oil on a tight rein

    NEWS
  • Beirut buzzes with talk of bank mergers

    NEWS
  • Beirut buzzes with talk of bank mergers

    AS officials at Byblos Bank and Banque Libanais pour le Commerce (BLC) put the finishing touches to their proposed $220 million merger, Beirut is alive with expectation that the long-awaited consolidation of the country's banking sector could become fact in 1999.
  • BMB upbeat despite Kuwait setback

    NEWS
  • BMB upbeat despite Kuwait setback

    Bahrain Middle East Bank (BMB) has announced an 84 per cent rise in profits from its continuing operations in 1998, although the net profit actually fell because of losses on trading operations on the Kuwait Stock Exchange.
  • Brazilian shock causes jitters

    As trading on Middle East stock markets wound down for the Eid al-Fitr holidays, brokers were watching nervously to see what effect the Brazilian financial crisis would have on emerging market investors. Markets at risk include Egypt, which has enjoyed a promising start to the year as foreign investors who had taken fright following the Asian crisis have been returning.
  • BUDGETS

    With oil prices still at their lowest for 12 years and no prospect of a recovery in sight, Gulf states are feeling the economic pinch. Setting the tone, this year's government budgets are among the most austere for over a decade. Peter Kemp reviews Saudi Arabia, which is preparing for a tightening of belts all round.
  • Business as usual after bombs rain on Baghdad

    NEWS
  • Calm start to a new year

    A new year and already new faces are appearing in the world of Middle East stockbroking, as both Pakistan's and Palestine's bourses are graced with new regulators.
  • CBK raises $100 million loan

    Commercial Bank of Kuwait has finalised a $100 million loan facility to boost funds for its balance sheet. The three-year loan, signed on 31 December - less than two months after the mandate had been awarded - is priced at 60 basis points over Libor.
  • CBK raises $100 million loan

    NEWS
  • Chasing new revenue to slash the deficit

    Beirut is hardly cock-a-hoop over Finance Minister George Corm's announcement that the budget deficit for 1998 exceeded the government's 42 per cent target, if only by 1.3 per cent. Yet the sense of optimism unleashed by the new regime of President Lahoud and Prime Minister Salim al-Hoss appears to be holding up. With an ambitious programme of administrative reforms, a commitment to tackling corruption and a firm focus on fiscal discipline, Lebanon's new government can count on reserves of go
  • Chasing new revenue to slash the deficit

    NEWS
  • Coalition chaos

    A succession of weak coalition governments has taken the gloss off India's economic reform programme. At the start of the decade, privatisation and sweeping deregulation of the state-dominated economy put India firmly on the map of emerging markets with huge development potential. As the end of the decade looms, the economy has stagnated, reforms have ground to a halt and the coalition government is torn by provincial and parochial concerns that have sapped it of political authority. The coun
  • Coalition chaos

    NEWS
  • Cold weather, Gulf action lift oil

    NEWS
  • Cold weather, Gulf action lift oil

    A bout of extremely cold weather in the US has given a lift to oil prices after several weeks of seemingly inexorable decline. An increase in tension in the skies over Iraq where US aircraft were harried by Iraqi fighter planes on 5 January also gave spot markets a modest boost.
  • Consolidating for growth

    The news of the biggest corporate merger in Saudi Arabia's history came on 6 January in a two-page announcement from Kingdom Holding Company, the Riyadh headquarters of Prince Alwaleed Bin Talal. 'Saudi American Bank (Samba) and United Saudi Bank (USB) are engaged in preliminary conversation on a merger of the two companies,' the statement said. It added that such a merger would require shareholder approval after a thorough due diligence exercise and would need to be cleared by the regulatory
  • Consolidating for growth

    NEWS
  • Cover Story: 1999

    NEWS
  • Diamonds are an Arab's best friend

    NEWS
  • Diamonds are an Arab's best friend

    Two Middle East multinationals have acquired a $6 million equity investment in a US-based diamond mining firm. The purchase increases Middle East involvement in the company to 51 per cent.
  • EGYPT

    Drainage project consultancy
  • EGYPT

    Health Plans
  • EGYPT

    Road tunnel construction
  • EGYPT

    The market has got off to a roaring start to 1999, with one of the two indices of most heavily traded stocks rising by over
  • EGYPT

    Canal improvement
  • EGYPT

    Chlorinators and evaporators
  • EGYPT

    Mechanical and electrical equipment
  • EGYPT

    Nuts and bolts
  • EGYPT

    Blasting abrasive
  • EGYPT

    Rotary gins
  • EGYPT

    Environmental control network
  • EGYPT

    Soil-core drilling machine
  • EGYPT

    Tile drainage
  • EGYPT

    Drainage
  • EGYPT Bids for East Port Said dredging way over budget

    The government is understood to be considering the cancellation of a tender for dredging work for the new East Port Said container terminal after the bids came in substantially over budget. The government has also decided to award the concession to operate the terminal through a tender process, rather than by direct negotiation, because of reservations about the proposals submitted by P&O Ports of Australia and ECT International of the Netherlands (MEED 25:12:98).
  • EGYPT Bids for East Port Said dredging way over budget

    NEWS
  • EGYPT Collector pipe production line

    NEWS
  • EGYPT Company privatisation

    Sale of 55.64 per cent of the share capital of the Suez Mechanical Stevedoring Company. The company is the largest Egyptian general stevedoring company operating in the Gulf of Suez and Red Sea ports. It was established in 1981 as a joint stock company and converted in 1991 to a Law 203 company under the ownership of the Holding Company for Transport and its maritime affiliates.
  • EGYPT Company privatisation

    NEWS
  • EGYPT Degremont/Arab Contractors sign sewage plant contract

    The contract for the expansion of the Gabal el-Asfar wastewater treatment plant, northeast of Cairo, has been signed with a team of France's Degremont and the local Arab Contractors (Osman Ahmed Osman & Company). The final price of about£E 858 million ($252 million) is based on the team's alternative offer in a 1998 international tender plus an operation and maintenance (O&M) fee. The client is the Cairo Wastewater Organisation (MEED 23:10:98).
  • EGYPT Degremont/Arab Contractors sign sewage plant contract

    NEWS
  • EGYPT Ezz ties up loan finance for steel plate plant

    NEWS
  • EGYPT Ezz ties up loan finance for steel plate plant

    A venture set up by the local Ezz Group to make flat steel products in Suez has concluded financing arrangements for the project with the 22 December signing in Rome of a $260 million international loan (MEED 23.10.98, Finance).
  • EGYPT Fuller/Hanjung win Qena cement contract

    NEWS
  • EGYPT Fuller/Hanjung win Qena cement contract

    A joint venture of The Fuller Company of the US and Hanjung of South Korea was expected to receive by the end of December a letter of intent for the construction of a cement plant in Upper Egypt for Qena Cement Company. The venture submitted the clear low bid of just under $170 million for the contract in September (MEED 9:10:98).
  • EGYPT IN BRIEF

    Tourist arrivals were down at 306,000 in September 1998 compared with 352,000 in September of the previous year, the Central Bank of Egypt reported in its November bulletin. Egypt received 420,000 visitors in August 1998. Tourism, one of the main sources of foreign currency receipts along with remittances and Suez Canal revenues, has been recovering steadily since the Luxor massacre in November 1997 when 58 foreign visitors were killed.
  • EGYPT IN BRIEF

    Talks were held with Turkish officials in Ankara from 17-18 December to prepare for the signing of a free trade agreement in 1999. 'It is envisaged that the bilateral trade volume will reach $1 billion in 2000 and $2 billion in 2005 after the agreement takes effect,' the Turkish foreign trade secretariat said in a statement. Bilateral trade reached $703 million in 1997 and was worth $588 million in the first nine months of 1998, a 15 per cent increase on the previous year. 'The agreement will
  • EGYPT IN BRIEF

    NEWS
  • EGYPT IN BRIEF

    International investors have been invited to bid by 15 February for the purchase of a 55.64 per cent stake in Suez Mechanical Stevedoring Company (SMS). The company was established in 1981 as a joint stock company and in 1991 was converted to a Law 203 company under the controlling ownership of the Holding Company for Transport and its maritime affiliates. SMS reported operating profits of E 6.9 million ($2.0 million) in 1998 and revenues of E 24 million ($7.1 million). Tender documents are o
  • EGYPT IN BRIEF

    The local Arabian International Construction (AIC) has strengthened its position in the building sector through the take-over of another local firm, Montasser Ready Mix Concrete Company. The acquisition by AIC affiliate Toublat has been valued at£E 39 million ($11.4 million). Toublat is Egypt's leading manufacturer of cement blocks and tiles, and is one of Montasser's leading clients. Montasser was advised on the deal by EFG-Hermes.
  • EGYPT IN BRIEF

    NEWS
  • EGYPT IN BRIEF

    The Suez Canal Authority (SCA) has ruled out an increase in transit fees for 1999. The SCA said on 14 December that it will make no changes to the existing rates, which have not increased since 1994. SCA chairman Ahmed Fadel told a news conference that this was because of economic turmoil in Asia and Latin America, lower oil prices and the advent of larger oil tankers, which do not use the canal. Special discounts to encourage oil and liquefied natural gas (LNG) tankers will be maintained. Re
  • EGYPT Italians win Sinai spa contract

    NEWS
  • EGYPT Italians win Sinai spa contract

    Two Italian firms, Nino Ferrari and Gepco, have been awarded contracts for work on a spa and leisure resort at Hammamat Pharaoun, in south Sinai. They will be working with the main contractor, the local Middle East Integrated Contracting (MEIC), and designer Hamza Associates, also local.
  • EGYPT Lafarge takes early lead in Beni Suef Cement sale

    France's Lafarge is understood to have submitted the highest price for Beni Suef Cement Company, which has been offered for privatisation by state-owned Mining & Refractories Company.
  • EGYPT Lafarge takes early lead in Beni Suef Cement sale

    NEWS
  • EGYPT SIAC wins work on cement, steel plants

    NEWS
  • EGYPT SIAC wins work on cement, steel plants

    The local Industrial Construction & Engineering Company (SIAC) has won two orders for work on a cement plant in Beni Suef and a steel plant in Suez.
  • EGYPT Two bid for Steelco and Metalco

    The state-owned Metallurgical Industries Company (Micor) says it is evaluating offers from two groups for majority stakes in two affiliates specialising in the manufacture of steel structures (MEED 6:11:98).
  • EGYPT Two bid for Steelco and Metalco

    NEWS
  • EGYPT: Bids invited for 10 Ramadan, Suez water scheme

    NEWS
  • EGYPT: Bids invited for 10 Ramadan, Suez water scheme

    Prequalified international and local contractors have been invited to bid by 15 April for Egypt's first major private water scheme. It involves upgrading and expanding water treatment facilities in 10 Ramadan City and building a pipeline to take drinking water from there to Suez (MEED 18:12:98).
  • EGYPT: Bids invited for BOOT tunnel for East Port Said

    NEWS
  • EGYPT: Bids invited for BOOT tunnel for East Port Said

    Developers have been invited to apply to prequalify by 28 February for a contract to build and operate a road tunnel beneath the Suez Canal to provide access to the new East Port Said container terminal and industrial zone. The client is the National Authority for Tunnels, an affiliate of the Transport & Telecommunications Ministry.
  • EGYPT: Bids invited for South Valley cement plant

    International companies have been invited to bid by 10 February for a contract to supply and install a clinker grinding mill to make cement in the Toshka development zone, southwest of Aswan. The client is the South Valley Cement Company, set up in 1997 by Banque Misr and a group of local and Saudi investors (MEED 22:8:97).
  • EGYPT: Float glass plant rolls into production

    NEWS
  • EGYPT: Float glass plant rolls into production

    EGYPTIAN industry has taken a leap forward with the commissioning of the country's first float glass plant in 10 Ramadan City,
  • EGYPT: Higher lending rates boost NSGB profits

    The majority French-owned National Societe Generale Bank (NSGB) on 17 January became the first bank to publish its financial results for 1998, posting a 17 per cent increase in net profits to£E 92.6 million ($27.2 million) from£E 79 million ($23.2 million) in 1997. Net income before provisions was up 23 per cent to£E 147 million ($43.1 million).
  • EGYPT: Higher lending rates boost NSGB profits

    News
  • EGYPT: ICI to provide know-how for privatised paints firm

    News
  • EGYPT: ICI to provide know-how for privatised paints firm

    UK chemicals corporation ICI says it has agreed to provide technical assistance to an investment group that has bought the remaining state holding in the local Paints & Chemical Industries Company (Pachin). The buyer of the 38.2 per cent stake is a newly formed UK-based investment firm called Gryphon Emerging Markets. Its founders include Cairo investment banker Hani Tewfiq.
  • EGYPT: IN BRIEF

    NEWS
  • EGYPT: IN BRIEF

    News
  • EGYPT: IN BRIEF

    A joint venture of Sorenson Gross of the US and the local Arabian International Construction has won a contract valued at $1.32 million for the construction of a maintenance building for SH-2G helicopters and a utility building, both at the Borg el-Arab air force base. The maintenance building will house a Reeling Machine Test Set shop as well as facilities for hydraulics, welding, corrosion control, painting and avionics. The client is the US Army Corps of Engineers.
  • EGYPT: IN BRIEF

    Local private infrastructure venture Egyptian Real Estate & Construction Investment Company has signed a build-operate-transfer (BOT) contract for a five-star hotel and commercial centre in the new media city southwest of Cairo. Construction costs are estimated at£E 135 million ($40 million). The partners in the venture include Arab Contractors (Osman Ahmed Osman & Company), National Bank of Egypt, Sabbour Associates, El-Chark for Insurance and the Oriental Weavers Group. The hotel will have
  • EGYPT: IN BRIEF

    The government is to offer bonds worth£E 3,000 million ($880 million) in February as part of a drive to stimulate the local corporate bond market, the Cairo daily Al-Ahram reported on 27 January. The daily quoted Capital Market Authority chairman Abdel-Hamid Ibrahim as saying that the bonds are aimed at setting a benchmark for corporate bond issues. He added that the new capital market law will oblige companies seeking to issue bonds to secure an investment grade credit rating from either Lon
  • EGYPT: Kier in line for Abu Tartour phosphates work

    The mining division of Kier of the UK has been selected for negotiations about a contract to work as project manager at the Abu Tartour phosphate mine, in the Western Desert (MEED 3:7:98).
  • EGYPT: Kier in line for Abu Tartour phosphates work

    NEWS
  • EGYPT: Lafarge selected as buyer of Beni Suef Cement

    News
  • EGYPT: Lafarge selected as buyer of Beni Suef Cement

    The government has announced the selection of France's Lafarge for negotiations about the purchase of a strategic stake in Beni Suef Cement Company, in what will be one of the largest privatisation deals to date (MEED 15:1:99).
  • EGYPT: MobiNil picks banks for $670 million financing

    News
  • EGYPT: MobiNil picks banks for $670 million financing

    A group of local and international banks has been selected to raise a total $670 million in finance for Egyptian Company for Mobile Services (MobiNil), one of two mobile phone operators in the country (MEED 30:10:98).
  • EGYPT: Orascom Construction launches bond, equity issues

    The local Orascom Construction Industries (OCI) is pressing ahead with plans to raise some£E 600 million ($176 million) in fresh finance from the capital markets. They involve a£E 280 million ($82 million) bond issue, which was to be launched on 31 January, and an equity placement to be launched in the second week of February (MEED 22:1:99).
  • EGYPT: Snamprogetti set for Suez hydrocracker contract

    Italy's Snamprogetti is understood to be in a strong position to win the contract to build a hydrocracker in Suez for Misr Oil Processing Company (MOPC) following the mid-January opening of revised commercial offers (MEED 4:12:98).
  • ENERGY

    INDIA'S energy markets are being thrown open by the liberalisation of the petroleum sector and the need for urgent investment in new generating capacity. For the Middle East, the changes mean growing demand for crude oil and a new market for the region's gas exports. The reforms promise the biggest shake-up for years in a sector that has been swathed in state controls and subsidies, as well as offering unprecedented opportunities for international investors.
  • ENERGY

    NEWS
  • Finding shade from the domestic heat

    CORPORATE ROUND-UP
  • Finding shade from the domestic heat

    THE heat of competition for Indian companies from international firms has been growing since the introduction of liberal economic policies in the early 1990s. This has allowed some companies to pursue business opportunities overseas more aggressively than those in the huge domestic market opened up by liberalisation. They are also being pushed abroad by the need to learn internationally accepted management practices, hone their technical skills and become familiar with the new technologies to
  • GAZA/WEST BANK

    NEWS
  • GAZA/WEST BANK

    Pipes and meters
  • GAZA/WEST BANK

    Japan's Foreign Affairs Minister Mashiko Komura has announced the allocation of $20 million to infrastructure development of Gaza International Airport and West Bank and Gaza border crossings. He revealed the package during a press conference on 10 January which followed talks with Palestinian leader Yasser Arafat. The funding is part of $200 million of aid pledged by the Japanese government to the Palestinian Authority over the next two years.
  • GAZA/WEST BANK

    Israel's parliament on 26 January passed a law requiring a national referendum and a special parliamentary majority before the handover of any land in Arab East Jerusalem. A spokesman for Palestinian leader Yasser Arafat described the move, which also applies to the Israeli-annexed Golan Heights, as 'a new obstacle to peace'.
  • GAZA/WEST BANK

    News
  • GAZA/WEST BANK

    HSBC British Bank has announced plans to provide custody services for investors on the Palestine Stock Exchange. The bank says it hopes to secure official approval soon for the start-up of the services, which will be provided from the Ramallah branch.
  • GAZA/WEST BANK IN BRIEF

    NEWS
  • GAZA/WEST BANK IN BRIEF

    The Peace Technology Fund, a capital venture fund established in October 1997 by the Peres Centre for Peace and the World Bank, says it has raised $60 million for investment in the West Bank and Gaza. The money is to be invested in promoting Palestinian businesses and joint ventures with Israeli companies, boosting employment among university educated community and attracting high-tech industries to the region. Local and Israeli private sectors have each invested $20 million, fund officials s
  • GAZA/WEST BANK PalTel secures loan

    A consortium of Jordanian banks, led by the Housing Bank, has extended a $3.1 million syndicated loan and a guarantee against a $17.8 million loan from Belgium's Generale de Banque to the Palestine Telecommunications Company (PalTel). The loan will be used to finance the provision of equipment and services from Alcatel of France for the upgrading of the fixed-line telephone network in the West Bank and Gaza. Other banks involved in both the loan and the guarantee are Jordan Kuwait Bank, Union
  • GCC continues drive for customs union

    GCC states will soon begin implementation of the second phase of the transitional programme to set up a customs union, Gulf newspapers reported on 20 January.
  • GIB to expand corporate base into Saudi Arabia

    Gulf International Bank (GIB) is set to expand corporate and investment banking throughout Saudi Arabia once its merger with Saudi International Bank (SIB) is completed. A banking licence currently being processed by Saudi authorities is expected to be issued by the end of January. A branch, probably in Riyadh, will be opened soon after.
  • GIB to expand corporate base into Saudi Arabia

    NEWS
  • GIB to merge with Saudi International Bank

    NEWS
  • Gulf investors look to Indonesia

    Oman's Shanfari group plans to spend $50 million on buying control of a loss-making Indonesian bank, Bank Intan, and turning it into an Islamic bank. National Commercial Bank of Saudi Arabia and the Al-Shahwani group from Qatar have also shown interest in buying Bank Intan's shares, Jakarta bankers say.
  • Gulf investors look to Indonesia

    NEWS
  • Gulf states mirror Saudi budget measures

    SAUDI Arabia's efforts to deal with the effects of plunging oil prices have been mirrored in other GCC states facing similar tests as they draw up their new budgets.
  • Gulf states mirror Saudi budget measures

    NEWS
  • Hard times, no easy way out

    NEWS
  • Hebron Palestinians protest curfew

    The Israeli side of the West Bank town of Hebron was sealed off on 4 January and a curfew was imposed on Palestinian residents following a gun attack which injured two Israeli women. On 6 January a Palestinian was shot dead by Israeli troops when he brandished what turned out to be a toy gun.
  • Hebron Palestinians protest curfew

    NEWS
  • Highlights of the week

    In Egypt, local brewer Al-Ahram Beverages Company (ABC) became the first Middle East company, and only the second worldwide, to establish a euro- denominated depository receipt (DR) facility. The issue will supplement the company's existing dollar-denominated global depositary receipt (GDR) facility. Established by depository bank Bankers Trust, it is hoped the new facility will help attract new European investors to ABC stock.
  • Highlights of the week

    NEWS
  • In Brief

    The European Bank for Reconstruction and Development (EBRD) has extended a line of credit for use in on-lending to Arkobank of Azerbaijan, as part of a modernisation programme for the bank. A team of experts from UK-based consultants Pangaea Partners has also been appointed by the EBRD to overhaul the bank's credit, treasury and accounting procedures. Pangaea will also assist in evaluating the credit worthiness of Azeri companies for EBRD-assisted credit. 'The two-year programme that we have
  • In Brief

    NEWS
  • IN BRIEF

    NEWS
  • In Brief

    NEWS
  • In Brief

    Chase Manhattan Bank has secured the mandate as global co-ordinator of a $670 million finance package for the Egyptian Company for Mobile Services (MobiNil). The US bank is now seeking to form an arranging group for the $220 million international tranche of the package. National Bank of Egypt and Commercial International Bank (Egypt - CIB) are the arrangers of a senior tranche of Egyptian pound debt equivalent to $350 million, and Commercial International Investment Company (CIIC) is to act a
  • In search of a new consensus on Iraq

    One month after the US and UK air bombardment of Iraq, the prospect of renewed hostilities remains a strong possibility. The UN Security Council is bitterly divided over its approach to the Baghdad regime: while France and Russia are pushing for a relaxation of sanctions, the US wants to step up the pressure on Saddam Hussein. Baghdad, however, has shown no inclination to try to capitalise on these political overtures. Instead, it is spitting defiance and issuing veiled threats to its neighbo
  • In search of a new consensus on Iraq

    NEWS
  • INDIA

    Although an unruly 18-party coalition has turned India into a nuclear power, it is proving no more able to pursue coherent policies after nine months in office than the government it replaced. Sunil Saraf reports on the political and economic future, and looks at energy, fertilisers and the corporate scene.
  • Indian gold rush beckons for Dubai

    The UAE's declining gold re-exports market is likely to be revived by illegal trade following India's decision to raise customs duties on
  • Indian gold rush beckons for Dubai

    NEWS
  • Investcorp buys US computer firm

    NEWS
  • Investcorp buys US computer firm

    An investment group led by Bahrain-based Investcorp has acquired the computer division of a leading US telecommunications group for an undisclosed amount.
  • IRAN

    Computers
  • IRAN

    NEWS
  • IRAN

    Hubs
  • IRAN

    Spare parts
  • IRAN

    Water tanks
  • IRAN

    Transformers
  • IRAN

    Rail seats/beds
  • IRAN

    Tea packaging
  • IRAN

    Fan
  • IRAN

    Brake linings
  • IRAN

    Compressor parts
  • IRAN

    Vehicles
  • IRAN

    Milk powder plant
  • IRAN

    Computer
  • IRAN

    Computers
  • IRAN

    Construction machinery
  • IRAN

    Cheese cartons
  • IRAN

    Compressor assembly
  • IRAN

    Tyres
  • IRAN

    Bus motors
  • IRAN

    Gear boxes
  • IRAN

    The gradual slide of the Tehran Stock Exchange continues into the new year, closing down 4.4 points at 1,526.63.
  • IRAN Energy and water projects move ahead

    The state-owned Mahab Qods Consulting Engineers will soon invite interested international firms to purchase documents for construction of two dam projects and a water tunnel scheme. The invitations are to be completed by mid-January and winning bids are to be chosen by March, according to a Mahab Qods official. Plans for the three projects require bidders to supply foreign finance.
  • IRAN Energy and water projects move ahead

    NEWS
  • IRAN IN BRIEF

    An oil spill involving 100 tonnes of crude in early December near Bandar Abbas has been contained and does not threaten a nearby power plant and a refinery, officials said on 21 December. The leak occurred after an Iranian carrier with 60,000 tonnes of oil collided with a jetty.
  • IRAN IN BRIEF

    NEWS
  • IRAN IN BRIEF

    The Foreign Affairs Ministry on 16 December rejected Azerbaijan's protest against a Caspian Sea oil exploration study by the UK's LASMO and the Royal Dutch/Shell Group. The $19 million Caspian deal was announced on 14 December (MEED 25:12:98). Ministry spokesman Hamid Reza Asefi said the protest - which was also sent to the companies and the UK and Dutch governments - was 'lacking legal basis based on the existing treaties'. Asefi said that Tehran believes that a collective legal regime based
  • IRAN IN BRIEF

    The offshore Sirri E oil field developed by France's Total was scheduled to start producing at an initial rate of about 30,000 barrels a day (b/d) by mid-January. Maximum output of 100,000 b/d is expected to be reached mid-year. Total started the nearby Sirri A field in early October at a rate of 20,000 b/d (MEED 23:10:98). The two fields together, awarded to Total in 1995 in a $600 million contract, are to produce 120,000 b/d. Malaysia's Petronas has a 30 per cent stake in the project. Total
  • IRAN IN BRIEF

    NEWS
  • IRAN IN BRIEF

    The pro-Khatami Society of Combatant Clerics has protested against the arrest of Assadollah Bayat, one of its founders and a former deputy majlis speaker, on fraud charges. Bayat has been sentenced to one year in prison by a special clerical court, but the society wants a public trial. Some of the local media say the case is linked to a dispute between Bayat and a hardline Islamic militia over control of religious institutions at a Tehran mosque.
  • IRAN IN BRIEF

    Oil production will be maintained at 3.6 million barrels a day (b/d), representing a 300,000-b/d cut from Tehran's OPEC quota of 3.925 million b/d, says Oil Minister Bijan Namdar Zanganeh. The statement, reported on 22 December by the London-based Arabic daily Al-Hayat, comes amid a dispute over the reference point for a promised 300,000-b/d cut in Iranian output to support the world oil market.
  • IRAN IN BRIEF

    Gazprom of Russia and the local Naftgaran Engineering Services Company (Nesco) have formed a joint oil and gas drilling company, with the Russian firm holding a 49 per cent stake. Gazprom is involved in developing the offshore South Pars gas field and several other projects.
  • IRAN Local elections fail to attract candidates

    Only about 327,000 candidates have registered to run for 200,000 seats in local council elections scheduled for 26 February, raising the prospect of a poor electoral performance which may damage President Khatami's authority. Some polls in rural areas may have to be cancelled because of a lack of candidates contesting seats in the country's first experiment with grassroots democracy.
  • IRAN Local elections fail to attract candidates

    NEWS
  • IRAN Local firm may join Chinese for pipeline deal

    A state-affiliated firm has been chosen as the winner of a tender to build a 390-kilometre oil pipeline from the Caspian Sea port of Neka to Tehran. A contract worth $347 million is to be awarded soon to the firm, Iran Power Plant Projects Management Company (Mapna), which may form a last-minute partnership with a Chinese consortium comprising China National Petroleum Company (CNPC) and Cinopec.
  • IRAN Local firm may join Chinese for pipeline deal

    NEWS
  • IRAN Neka pipeline bid evaluation narrowed down

    A list of 13 consortia bidding for the $400 million Neka-Tehran oil pipeline construction project has been pared down to eight as the National Iranian Oil Company (NIOC) aims for the start of work in the spring. Four groups led by UK, French, Chinese and South Korean firms are described as favourites by industry sources.
  • IRAN Neka pipeline bid evaluation narrowed down

    NEWS
  • IRAN Security agents arrested for murder spree

    The Information (intelligence) Ministry has arrested a number of its own agents for involvement in a network of killers targeting dissident intellectuals and politicians. The arrests are the first time government security officials are being held publicly accountable, and represent a big victory for President Khatami's efforts to liberalise politics.
  • IRAN Security agents arrested for murder spree

    NEWS
  • IRAN: $1,000 million German debt relief package delayed

    A $1,000 million German refinancing package to help Tehran repay old debts may be finalised by the end of January, German bankers and officials said at the turn of the year. The agreement was to have been formalised by 24 December, but has been delayed - apparently also helping cause delays in similar deals planned by Tehran with Italy and Japan.
  • IRAN: $1,000 million German debt relief package delayed

    NEWS
  • IRAN: BP Amoco drops Caspian option

    News
  • IRAN: BP Amoco drops Caspian option

    The newly-formed oil firm BP Amoco has abandoned an option to join a consortium carrying out an oil exploration study in the Caspian Sea. The firm, which is leading a consortium developing oil resources in neighbouring Azerbaijan, confirmed reports of its withdrawal on 18 January after Azeri allegations that the Iran deal infringes Azeri territorial sovereignty.
  • IRAN: Dresdner Kleinwort Benson to advise NPC on finance

    The state-owned National Petrochemical Company (NPC) has enlisted the help of Dresdner Kleinwort Benson (DKB) as financial adviser in looking for ways of securing foreign investment in existing and new petrochemical projects. The two companies announced their arrangement, concluded in late 1998, on 7 January.
  • IRAN: Dresdner Kleinwort Benson to advise NPC on finance

    NEWS
  • IRAN: External debt stock shows first rise

    The country's external debt stock has increased for the first time since 1993, reaching $12,000 million in the second quarter of the year which started on 21 March, according to data released by Bank Markazi (central bank). Both medium and short-term debt stocks went up during the quarter, as Tehran began experiencing problems in meeting its debt obligations because of falling oil revenue (see above).
  • IRAN: IN BRIEF

    The draft budget for 1999/2000 is based on an oil price of $10 a barrel, according to majlis member Morteza Nabavi on the eve of the opening of the budget debate. He described the forecast as an 'optimistic assumption'. The government's draft budget proposed in November projected the price of oil at $11.80 a barrel. The majlis started debating the budget on 13 January.
  • IRAN: IN BRIEF

    News
  • IRAN: IN BRIEF

    Saga Petroleum of Norway has requested talks with the National Iranian Oil Company (NIOC) over developing the Dehloran and Cheshmeh-Khosh oil fields, Saga said in a statement in late January. 'An application...has been submitted' and 'possible talks over the Dehloran and Cheshmeh-Khosh fields will clarify whether a basis exists for Saga to invest in Iran's oil industry', the company said. Saga announced its intention to take a stake in projects in Iran in June and was later awarded an explora
  • IRAN: IN BRIEF

    NEWS
  • IRAN: IN BRIEF

    OAO Lukoil Holding, Russia's biggest oil producer, has a joint venture with Pars Khodrow to produce Nissan Patrol four-wheel-drive vehicles in a plant in Crimea, Ukraine, according to the daily Moscow Times. Pars Khodrow will have a 25 per cent stake in the venture, with the balance of shares held by Lukoil, the Crimean local government and some Ukrainian investors.
  • IRAN: Italy agrees outline deal on debt repayment

    Italy's state insurance agency Sace has agreed in principle to back a finance package worth about $450 million to help Tehran repay medium and short-term debts. A detailed agreement is to be negotiated before the next debt repayment installment due in May, Italian bankers say.
  • IRAN: Majlis opens way for $10 billion in foreign funds

    The draft state budget for 1999/2000 allows the government to seek about $10,000 million in foreign funds for a wide range of industrial and agricultural development projects.
  • IRAN: Row hots up over rogue security agents

    President Khatami is persevering in his efforts to assert control over the security forces after a rare admission of responsibility by security agents for a spate of killings of dissidents. State television said on 12 January 10 people were under arrest for the killings in the second half of 1998; those in prison are said to be members of death squads which included rogue security agents (MEED 15:1:99). A number of others are under surveillance in the continuing probe, a special committee set
  • IRAN: Row hots up over rogue security agents

    NEWS
  • IRAN: US considering $500 million food deal

    News
  • IRAN: US considering $500 million food deal

    The US is considering selling up to $500 million worth of farm goods to Tehran nearly four years after banning all bilateral trade. The Clinton administration is looking at 'an application for a licence to broker a sale of US agricultural products to Iran [which] has been filed with the Treasury Office of Foreign Assets Control', but a decision has yet to be made, the State Department said on 19 January.
  • IRAN: US firm bids for oil schemes despite sanctions

    News
  • IRAN: US firm bids for oil schemes despite sanctions

    The US oil firm Arco is bidding for two onshore oil field development projects against European competition. Arco says it is observing US sanctions against Tehran and will not agree any contracts unless the sanctions are lifted.
  • IRAQ

    UN Special Commission (UNSCOM) chairman Richard Butler has denied US press reports that his agency passed intelligence to American secret service. The Washington Post and Boston Globe on 7 January reported that evidence that UNSCOM may have played such a role had been passed to UN Secretary- General Kofi Annan.
  • Iraq after the bombing: Baghdad defiant, UN in disarray

    NEWS
  • Iraq to top agenda at Arab League

    NEWS
  • Iraq to top agenda at Arab League

    Iraq will be top of the agenda at a ministerial meeting of the Cairo- based Arab League, according to Secretary-General Esmat Abdel-Meguid. The meeting is scheduled for 24 January. The ministers were due to meet in December to discuss the possibility of an Arab summit after the US and the UK launched missile strikes against Iraq; Baghdad criticised Egyptian and other Arab leaders for the postponement, accusing them of trying to contain Arab anger against the raids (see Iraq).
  • Iraq turns heat on Arab neighbours

    A bitter war of words has broken out between Iraq and its Arab neighbours with Baghdad accusing Kuwait and Saudi Arabia of helping the US and UK launch their mid-December air bombardment.
  • Iraq turns heat on Arab neighbours

    NEWS
  • Iraq, Madrid leave oil unmoved

    NEWS
  • IRAQ: Australia announces wheat deal

    News
  • IRAQ: Australia announces wheat deal

    Australia said on 13 January that it was selling 600,000 tonnes of wheat to Iraq with delivery due during the first three months of this year.
  • IRAQ: IN BRIEF

    News
  • IRAQ: IN BRIEF

    Washington has designated seven Iraqi opposition groups as eligible for financial assistance under the Iraq Liberation Act. The groups are the Iraqi National Congress, the Kurdistan Democratic Party, the Patriotic Union of Kurdistan, the Tehran-based Supreme Council for the Islamic Revolution in Iraq, the Iraqi National Accord, the Islamic Movement of Iraqi Kurdistan and the Movement for Constitutional Monarchy. The act was passed by the Republican-dominated Congress last September and makes
  • IRAQ: IN BRIEF

    Russian officials have denied rumours that the country plans to sell wheat to Iraq, a US Agriculture Department official said on
  • IRAQ: Military confrontation escalates

    The confrontation between Baghdad and the US-led alliance was escalating in late January as the two sides committed themselves to tough military action. Baghdad has failed in its latest efforts to enlist Arab support and is also stepping up its war of words against Saudi Arabia and Kuwait.
  • Iraq: Oil facilities inspected by UN

    FOUR oil experts from the Dutch firm Saybolt visited Iraq on 13- 16 December to assess the state of the oil sector and to verify the list of equipment and spare parts requested by Baghdad. Under UN Security Council Resolution 1210, Baghdad can purchase $300 million of equipment to help it export the $5,250 million worth of oil permitted under the UN oil-for- food deal.
  • Iraq: Oil facilities inspected by UN

    NEWS
  • IRAQ: Stand-off with US continues

    NEWS
  • IRAQ: Stand-off with US continues

    For the second consecutive day, US warplanes attacked Iraqi air defence sites on 13 January after they were either fired upon or locked onto by radar. Such incidents have become a regular occurrence since the mid-December bombardment of Iraq by the US and UK.
  • Iraqi farmers keep the wolf from the door

    THE suffering caused by the seemingly endless regime of sanctions imposed on Iraq was mitigated in 1998 by a rebound in agricultural production, according to figures compiled from Food & Agriculture Organisation (FAO) reports. As a result of this and the effects of imports allowed under the oil-for-food programme, the number of calories in the average Iraqi diet is estimated to have risen to about 2,400 a day from a low of 2,000 in 1996. This compares with a figure of about 3,250 in 1990.
  • Iraqi farmers keep the wolf from the door

    NEWS
  • Israel prepares for fresh elections

    NEWS
  • It's hurting, not working (1 of 2)

    NEWS
  • It's hurting, not working (1 of 2)

    The coming months will be make or break time for Middle East oil producers. As crude prices hover around $10 a barrel, most forecasters see little room for improvement in the first half of 1999. Supplies are still plentiful, stocks have soared and demand remains subdued. A recovery is expected by the summer but its precise timing and likely scale are uncertain. Further supply cuts would speed the process along but there is little sign yet that OPEC is capable of agreeing, let alone delivering
  • It's hurting, not working (2 of 2)

    AS the leader of efforts to prop up the oil price by cutting back production, Saudi Arabia had reduced output to 8 million barrels a day (b/d) at the end of 1998, some 800,000 b/d lower than a year earlier.
  • It's hurting, not working (2 of 2)

    NEWS
  • Joint ventures thrive despite policy hiatus

    FERTILISERS
  • Joint ventures thrive despite policy hiatus

    INDIA'S fertiliser industry is as confused as ever by the twists and turns of policy makers in Delhi. The industry has expanded overseas in recent years, notably in the Middle East, but needs to know if the authorities will continue to sanction the policy. The government needs to act on its own account also, to reduce the massive cost of subsidies on fertilisers. But a weak government, sensitive to the views of subsidised farmers, is unlikely to settle on a policy soon.
  • JORDAN

    Phosphate storage
  • JORDAN

    Lead alkyl
  • JORDAN

    Ducts and pipes
  • JORDAN

    Veterinary equipment
  • JORDAN

    Medical equipment
  • JORDAN

    Transformers
  • JORDAN

    Dumper vehicle
  • JORDAN

    Information exchange cable system
  • JORDAN

    Metal net
  • JORDAN

    Control room for thermal crystallisation
  • JORDAN

    Stationery
  • JORDAN

    Transformer stations
  • JORDAN

    Spare parts
  • JORDAN

    Chemicals and glassware
  • JORDAN

    Laboratory equipment
  • JORDAN

    Details of the following two tenders may be obtained from the Jordan Petroleum Refinery Company, Purchasing Department, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657039/4657934, telex 21246/21688 petrol jo, e-mail:jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN

    Silicon grease
  • JORDAN

    Preliminary results from the Arab Potash Company (APC) show a net profit of JD 25 million ($35.3 million) for 1998, 30 per cent up on the 1997 figure. APC chairman Saleh Irsheidat says APC's production for 1998 reached 1.53 million tonnes, up 7.9 per cent on 1997, while sales rose 4.8 per cent to 1.52 million tonnes. According to Irsheidat, the company earned $163 million in hard currency for the year. APC's profits for the first half of the year were a disappointing JD 8 million ($11.2 milli
  • JORDAN

    NEWS
  • JORDAN

    Insulators
  • JORDAN

    CT scanner
  • JORDAN

    A fall on the first day of trading of the new year was reversed by a renewed confidence in both local and foreign blue-chip stocks, which boosted shares at the end of the week. High turnover on the last day, inspired by heavy foreign buying in Jordan Cement Factories - which has risen sharply to JD 3.62 ($5.08) since the government sold a major stake last November - and a JD 3.5 ($4.91) rise in market heavyweight Arab Bank, contributed significantly to the 2.72 per cent weekly gain.
  • JORDAN

    Containers
  • JORDAN

    Wheel alignment apparatus
  • JORDAN Cables

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Carbon steel material

    Details of the tender may be obtained from Arab Potash Company, Jabal el-Weibdeh, PO Box 1470, Amman 11118, telephone 5666165-6/5666627, fax 5692855, telex 21683/22152/23910 potash jo:
  • JORDAN Carbon steel material

    NEWS
  • JORDAN Clay

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Copper plates and bars

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Court rejects Fastlink case

    NEWS
  • JORDAN Court rejects Fastlink case

    The High Court has rejected a breach of contract suit brought against the government by Jordan Mobile Telephone Services (Fastlink) on the grounds that it has no jurisdiction to handle the case. The decision was handed down on 17 December. Fastlink filed the case on 15 December 1997, claiming that the government had violated its licensing agreement when it awarded the government-owned Jordan Telecommunications Company (JTC) a licence to operate Jordan's second mobile service before the end of
  • JORDAN Fire hoses

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Grinder machine

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN IN BRIEF

    The government has reduced the price of white bread to 150 fils a kilo from 200 fils, and of whole wheat bread to 140 fils from 180 fils a kilo. The reduction follows the decline in world wheat prices and will remain in force for one year.
  • JORDAN New moves on Jordan Valley projects

    Jordan and Israel are ready to move ahead on a project to produce desalinated water in the Jordan Valley, says Jordan Valley Authority (JVA) secretary- general Dureid Mahasaneh. Mahasaneh says the two sides will start talks on the project, which is one of the water-related schemes agreed under the 1994 Jordanian-Israeli peace treaty, within the next month.
  • JORDAN New moves on Jordan Valley projects

    NEWS
  • JORDAN Pipes

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Pipes and fittings

    NEWS
  • JORDAN Pipes and fittings

    Details of the tender may be obtained from Arab Potash Company, Jabal el-Weibdeh, PO Box 1470, Amman 11118, telephone 5666165-6/5666627, fax 5692855, telex 21683/22152/23910 potash jo:
  • JORDAN Plates, rods and bars

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Rock salt

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Sieves

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Sieves

    NEWS
  • JORDAN Truck parts

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Tube guide closures and beams

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN Tubes

    Details of the tender may be obtained from Purchasing Department, Jordan Petroleum Refinery Company, Jabal Amman First Circle, Abu Baker el-Siddiq Street, PO Box 1079, Amman 11118, telephone 4630151/7/9, fax 4657939/4657934, telex 21246/21688 petrol jo, e-mail: jpr010@jopetrol.com.jo/jpr021@jopetrol.com.jo:
  • JORDAN: Amman bourse board appointed

    A seven-member steering board of five brokers and two private sector representatives has been appointed for the new Amman bourse. Jordan Securities Commission (JSC) chairman Bassam Saket says the new board will be responsible for the development of the new private-sector owned bourse, which will take over the market operations of the Amman Financial Market (AFM) until elections for a permanent board at the end of the first quarter of 1999.
  • JORDAN: Amman bourse board appointed

    NEWS
  • JORDAN: Bids in for IPP consultancy

    Financial offers were opened on 23 January for advisory services on the evaluation of construction bids and contract negotiations to the Energy & Mineral Resources Ministry for Jordan's first major independent power project (IPP). The four companies are K&M Engineering & Consulting Corporation and Fieldstone, both of the US, Germany's Fichtner and London-based NOM & Sons. Details of the offers were not revealed. K&M worked on the preparation of tender documents.
  • JORDAN: Binladin takes Four Seasons contract

    NEWS
  • JORDAN: Binladin takes Four Seasons contract

    Saudi Arabia's Binladin International Group has signed a JD 25.3 million ($35.7 million) turnkey contract for the construction of the Mediterranean Tourism Investment Company (METICO) Four Seasons hotel project in Amman. The contract was signed in Amman on 12 January and has a construction period of 24 months.
  • JORDAN: Greek/Bosnian team wins dam contract

    News
  • JORDAN: Greek/Bosnian team wins dam contract

    A consortium of Greece's Aegek and Hydrogradnja of Bosnia has won a JD 66 million ($93.1 million) contract for the construction of the Wala and Mujib dams as part of the Southern Ghors development project (MEED 30:10:98).
  • JORDAN: IN BRIEF

    NEWS
  • JORDAN: IN BRIEF

    Jordan's trade protocol with Iraq for 1999 is to be lowered in line with the decline in world oil prices. Trade & Industry Minister Mohammad Saleh Hourani said on 25 January that Jordan's oil bill with Iraq was expected to decrease and that he would discuss new rates for oil exports during a visit to Iraq sometime before the end of January. The two sides have already signed an agreement on the supply of 4.8 million tonnes of crude oil and by-products. Jordan's current trade protocol is valued
  • JORDAN: IN BRIEF

    The government declared a state of drought on 16 January as one of the driest winters on record has led to a sharp drop in the levels of dams throughout the country. Jordan's largest dam, the King Talal which has a capacity of 72 million cubic metres (mcm), currently has just 32 mcm of water. The 16 mcm Wadi Arab dam has dropped to 6 mcm, the 3.5 mcm Ziglab dam to 1.2 mcm, while the Wadi Sha'eb and Kafrein dams and most desert dams are almost empty. Restrictions have been introduced on the al
  • JORDAN: IN BRIEF

    The lower house of parliament passed the JD 2,160 million ($3,046 million) 1999 budget on 11 January with 55 of the 67 deputies who attended the session voting in favour. A report submitted by the finance committee of the lower house described it as an austerity budget and included a number of recommendations on curtailing public administration incompetence and stimulating the national economy, but did not raise major objections to the budget overall. The budget now goes to the senate for fur
  • JORDAN: King Hussain returns after cancer treatment

    News
  • JORDAN: King Hussain returns after cancer treatment

    King Hussain returned to Amman on 19 January after a six-month absence for cancer treatment in the US.
  • King Hussein: A life on the edge

    NEWS
  • KUWAIT

    Fire-fighting equipment
  • KUWAIT

    Storage tanks
  • KUWAIT

    Details of the following 18 tenders may be obtained from Central Tenders Committee, PO Box 1070, 13011 Safat, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT

    Air-conditioning unit
  • KUWAIT

    Trees, plants and seeds
  • KUWAIT

    Scientific appliances
  • KUWAIT

    Computers
  • KUWAIT

    Air-conditioning and cooling appliances
  • KUWAIT

    Agricultural automatic irrigation system
  • KUWAIT

    A flat start of the year for the Kuwait Stock Exchange saw no great movements in the main indices. Brokers reacted coolly to the government's economic reform package and the announcement by the Kuwait Foundation of the Advancement of Science that it is reducing the compulsory contribution from closed and public shareholding companies to 2 per cent of profits from 5 per cent (see Kuwait).
  • KUWAIT

    Fire-fighting equipment
  • KUWAIT

    Equipment
  • KUWAIT

    Maintenance
  • KUWAIT

    NEWS
  • KUWAIT

    Computer installation
  • KUWAIT

    Fire-fighting vehicle
  • KUWAIT

    Clothing
  • KUWAIT

    First category local contractors have been invited to bid by 16 February to expand the technical studies college at Shuwaikh. The client is the Public Authority for Applied Education & Training. A pre-tender meeting will be held on 26 January. Potential bidders include Mohamed Abdulmohsin Kharafi & Sons, Ahmadiah Contracting & Trading Company, Al-Hani Construction & Trading Company and Boodai Construction Company (see Tenders).
  • KUWAIT

    Ammunition
  • KUWAIT

    Telephone circuits
  • KUWAIT

    Computers
  • KUWAIT

    Spare parts
  • KUWAIT

    Medical supplies
  • KUWAIT

    College construction
  • KUWAIT

    Pipe replacement
  • KUWAIT

    Scientific equipment
  • KUWAIT

    Concrete pavement repairs
  • KUWAIT

    Clothing
  • KUWAIT

    Cleaning
  • KUWAIT

    NEWS
  • KUWAIT

    Appliances
  • KUWAIT

    Scientific appliances
  • KUWAIT

    Electrical board distribution system modification
  • KUWAIT

    NEWS
  • KUWAIT

    Server system
  • KUWAIT

    Air-conditioning modification
  • KUWAIT

    Furniture
  • KUWAIT

    Computers
  • KUWAIT

    Oil jetty reconstruction
  • KUWAIT

    Appliances
  • KUWAIT

    Heat exchanger
  • KUWAIT

    Chemicals
  • KUWAIT

    Sewerage water station
  • KUWAIT

    Foam
  • KUWAIT

    Electrical items
  • KUWAIT

    Pumps
  • KUWAIT

    Development of substations
  • KUWAIT

    Repair work
  • KUWAIT Ammonia and hydrogen sulphate reduction works

    NEWS
  • KUWAIT Ammonia and hydrogen sulphate reduction works

    Details of the tender may be obtained from Central Tenders Committee, PO Box 1070, Safat 13011, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT Cables

    Details of the tender may be obtained from Purchase Department, Kuwait Oil Company, PO Box 9758, Ahmadi 61108, telephone 3989111/3984111, fax 3983661/3987283, telex 44211/44225/44226 kuoco kt:
  • KUWAIT Cables

    NEWS
  • KUWAIT Cathodic protection system materials

    NEWS
  • KUWAIT Cathodic protection system materials

    Details of the tender may be obtained from Purchase Department, Kuwait Oil Company, PO Box 9758, Ahmadi 61108, telephone 3989111/3984111, fax 3983661/3987283, telex 44211/44225/44226 kuoco kt:
  • KUWAIT Cleaning works

    Details of the tender may be obtained from Central Tenders Committee, PO Box 1070, Safat 13011, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT Cleaning works

    NEWS
  • KUWAIT Cleaning, transportation and disposal services

    NEWS
  • KUWAIT Cleaning, transportation and disposal services

    Details of the tender may be obtained from Central Tenders Committee, PO Box 1070, Safat 13011, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT Crew boats leasing and operation

    NEWS
  • KUWAIT Electrical cables

    NEWS
  • KUWAIT IN BRIEF

    NEWS
  • KUWAIT IN BRIEF

    The UK-based Binnie, Black & Veatch and the local Associated Engineering Partnership have won a contract to complete preliminary studies and designs and prepare tender documents for a water distribution complex in the north. The plant will distillate water from the Subiya power plant and blend it with the brakish ground water, beach well water or sea water to produce potable water supplies. The client is the Ministry of Electricity & Water. On completion, the estimated $500 million plant will
  • KUWAIT IN BRIEF

    NEWS
  • KUWAIT IN BRIEF

    NEWS
  • KUWAIT Oil minister outlines terms to foreign majors

    NEWS
  • KUWAIT Oil minister outlines terms to foreign majors

    International oil companies (IOCs) will invest about $7,000 million to double production in the northern fields to 900,000 barrels a day, Oil Minister Saud Nasser al-Sabah told a news conference on 28 December. He stressed that the government would not forge production sharing agreements with IOCs but operating service agreements based on cash incentives.
  • KUWAIT Ozone protection system

    Details of the tender may be obtained from Purchase Department, Kuwait Oil Company, PO Box 9758, Ahmadi 61108, telephone 3989111/3984111, fax 3983661/3987283, telex 44211/44225/44226 kuoco kt:
  • KUWAIT Ozone protection system

    NEWS
  • KUWAIT Pipes

    Details of the tender may be obtained from Central Tenders Committee, PO Box 1070, Safat 13011, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT Pipes

    NEWS
  • KUWAIT Transformer station maintenance

    Details of the tender may be obtained from Central Tenders Committee, PO Box 1070, Safat 13011, telephone 2431719/2415616/2429083, fax 2416574:
  • KUWAIT Transformer station maintenance

    NEWS
  • KUWAIT: IN BRIEF

    News
  • KUWAIT: IN BRIEF

    The Ministry of Electricity & Water (MEW) has set a bid closing date of 21 February for the supply and installation of a new
  • KUWAIT: IN BRIEF

    Six firms have been invited to bid by 6 February to reconstruct the northern and southern oil jetties at Mina al-Ahmadi refinery. Prequalified firms include Germany's Ed Zueblin, the UK's Christiani & Nielsen, Athens-based Consolidated Contractors International Company (CCC), the local Mohamed Abdulmohsin Kharafi & Sons and Saudi Arabia's Saudi Archirodon Overseas. The client is Kuwait National Petroleum Company.
  • KUWAIT: KNPC finalises prequalifiers for new pier

    News
  • KUWAIT: KNPC finalises prequalifiers for new pier

    State-owned Kuwait National Petroleum Company (KNPC) is understood to have finalised the list of prequalifiers for the Mina al-Ahmadi new pier project. Eight companies have been shortlisted to bid for the engineering, procurement and construction (EPC) contract. The tender invitation is expected to be issued in July (MEED 17:10:97).
  • KUWAIT: NBK earnings grow 9 per cent

    The country's leading commercial bank, National Bank of Kuwait (NBK), posted record net profits of KD 80 million
  • LEBANON

    The budget deficit in December was 58 per cent of spending, pushing the deficit for the full year slightly over the government's 42 per cent target to 43.3 per cent. The overall budget deficit was£Leb 3,386 million million ($2,240 million), with revenues of£Leb 4,429 million million ($2,930 million). The figures do not include an estimated $600 million in accumulated debts, largely made up of bills for hospital services. The slight overshoot of 1.3 per cent compares favourably with the budget
  • LEBANON

    News
  • LEBANON

    The year started slowly with thin trade on the Beirut Stock Exchange. The LISPI general index ended the week at 88.72, a slight fall of half a percentage point on the period from 31 December. The BLOM all-share index registered a small decrease of 0.4 per cent over the same period. Turnover in Byblos Bank shares remains strong as speculation about a merger with Banque Libanais pour le Commerce continues. The bank's shares ended at $3, dropping from $3.125 early in the week. Solidere A and B s
  • LEBANON BoB profits rise despite debt provisions

    Profits for the year of£Leb 21,391 million ($14.1 million) have been reported by Bank of Beirut (BoB) following its merger with the local Transorient Bank in December last year. BoB's pre-merger net income stood at£Leb 14,861 million ($9.8 million) at the end of 1997.
  • LEBANON BoB profits rise despite debt provisions

    NEWS
  • LEBANON Byblos Bank close to BLC take-over

    NEWS
  • LEBANON Byblos Bank close to BLC take-over

    Byblos Bank was expected to complete the $220 million take-over of Banque Libanais pour le Commerce (BLC) by early January as MEED went to press. Banque Audi is also reported to have been involved in a bid for the bank, though securities house Nomura International, which has been retained by BLC to evaluate bids from Audi and Byblos, is understood to have advised in favour of the Byblos offer.
  • LEBANON IDAL faces government axe

    NEWS
  • LEBANON IDAL faces government axe

    The government is set to abolish some of the country's key public bodies as it begins the process of dismantling the legacy of former prime minister Rafiq Hariri. First to go is the Investment Development Authority of Lebanon (IDAL), which has faced criticism for its ineffectual performance as the country's primary investment agency.
  • LEBANON Investment fund buys into Liban Beton

    The $50 million Luxembourg-based investment fund Lebanon Holdings has acquired a 30 per cent stake in Liban Beton, a local ready-mix concrete maker, for $2.6 million.
  • LEBANON Investment fund buys into Liban Beton

    NEWS
  • LEBANON Solidere set to borrow $100 million

    Property company Solidere says it is close to finalising a $100 million loan to help complete infrastructure projects in the Beirut central district (BCD). The company says the new loan, co-managed by Banque Audi, will carry similar conditions to a previous five-year syndicated loan for $100 million taken out with Banque Audi, ABN AMRO and Arab Bank. The loan is expected to be priced at around 250 basis points over Libor.
  • LEBANON Solidere set to borrow $100 million

    NEWS
  • LEBANON: Bank prepares $100 million GDR issue

    A global depositary receipt (GDR) issue worth $100 million, to be managed by local brokerage Fidus and ABN AMRO, is being planned by Banque Libano- Francaise. The local bank had planned to launch the issue last year but continuing turmoil in emerging markets curbed investor appetite for Lebanese banking stocks. Byblos Bank had planned a similar issue last year but has so far failed to enter the market. Plans by property company Solidere for a $70 million GDR issue have been on hold since last
  • LEBANON: Banks attempt rescue package for Eternit

    Local pipemaker Eternit has filed for protection against its creditors as trade in the firm's shares on the Beirut Stock Exchange was suspended. The move follows losses of more than $5 million in 1997 and the expectation of further losses for 1998. Local finance house Lebanon Invest, which runs the investment fund Lebanon Holdings that paid $4.4 million for a 30 per cent stake in Eternit last year, is now conducting negotiations with major banks to finalise a restructuring plan.
  • LEBANON: IN BRIEF

    NEWS
  • LEBANON: IN BRIEF

    Solidere is preparing to tender in March for construction of the structure of a 700-space underground car park in the Foch-Allenby area of the Beirut central district. The local Edrafor won a contract worth $3.8 million to carry out drainage and excavation work on the car park, which will have four levels. Solidere will also award a construction contract for a landscaped square to be situated on top of the car park in a year's time. The property company is also planning a smaller 100-space ca
  • LEBANON: Reformed IDAL survives abolition threat

    The Investment Development Authority of Lebanon (IDAL) appears to have won a stay of execution as a cabinet session held on 8 January failed to implement a recommendation to abolish the investment agency. Instead, the government is set to redraft the body's statutes, granting it additional functions to guarantee both investments and exports.
  • LEBANON: Reformed IDAL survives abolition threat

    NEWS
  • LEBANON: Societe Generale arm buys majority stake in Fidus

    NEWS
  • LEBANON: Societe Generale arm buys majority stake in Fidus

    Local broker Fidus has sold a 51 per cent stake to Societe Generale Libano- Francaise de Banque (SGLEB), a local bank half-owned by France's Societe Generale, for an undisclosed sum. The privately-owned Fidus controls around a third of the local market for shares, treasury bills and bonds.
  • LIBYA

    NEWS
  • LIBYA

    NEWS
  • LIBYA

    France's Elf Aquitaine has made an offshore discovery in Block NC137, along the border with Tunisia. The B3 discovery well tested at a rate of 3,600 barrels a day, with reserves estimated at 100 million-150 million barrels. The well is the first drilled by Elf since it returned to the country in 1996.
  • LIBYA

    Libyan authorities are investigating several cases of corruption involving payments made to relatives of Revolutionary Leader Muammar Gaddafi for providing assistance to foreign companies operating in the country, the London daily Al-Hayat on 20 January reported from Cairo. One of the cases was said to concern a $30 million contract won by a European company but the newspaper did not identify the company or the individuals involved. The report came as a magazine run by exiled opposition group
  • LIBYA

    The government has stopped imports of French products, apparently in reaction to not being invited to a Franco-African summit held in Paris in November last year. The decision to ban deliveries of French goods was made that month, diplomatic sources say. Staple foods appear to have escaped the ban.
  • LIBYA IN BRIEF

    NEWS
  • LIBYA Repsol makes new find in Murzuk basin

    Spain's Repsol says it has made a significant oil discovery at Block NC-115 in the Murzuk basin, near the Al-Sharara field 800 kilometres south of Tripoli. A statement from the company, which made the discovery through its local unit Repsol Oil Operations, says first estimates indicate potential reserves of between 100 million-200 million barrels. Production tests gave a flow of 2,500 barrels a day (b/d) of high quality light crude.
  • LIBYA Repsol makes new find in Murzuk basin

    NEWS
  • Life on a lower income

    NEWS
  • Life on a lower income

    The oil producing states of the Gulf are starting the new year in the way they will be obliged to continue, with a tightening of belts all round. With oil prices still trailing at their lowest for 12 years and no prospect of a sustainable recovery in sight, the region is facing an extended period on a lower income. Setting the tone for the year ahead, government budgets for 1999 envisage a big drop in revenues and spending, and include some of the largest deficit forecasts seen since the mid-
  • MAURITANIA

    NEWS
  • MAURITANIA

    The Arab Fund for Economic & Social Development (AFESD) signed a KD 3.5 million ($11.6 million) loan to develop and upgrade small dams. The loan is at 3 per cent interest and matures in 25 years with a six-year grace period, an official at AFESD says.
  • Mixed fortunes (1 of 2)

    Middle East construction markets face a demanding year ahead with government spending likely to be kept on a tight leash and private investors wary of launching big ticket projects. With the world economy slowing and the oil producing states of the region suffering from a 40 per cent drop in oil revenues, contractors are bracing for a drop in new commissions. But there are bright spots in an otherwise dull looking market.
  • Mixed fortunes (1 of 2)

    NEWS
  • Mixed fortunes (2 of 2)

    The recent slump in petrochemical prices has slowed the implementation of new schemes. International firms were asked to prequalify last year for the estimated $100 million co-generation project in Jubail for Saudi Petrochemical Company (Sadaf). This project is still scheduled to happen next year, but the timing is likely to be dependent on Sadaf reaching a deal with Saudi Aramco for the supply of fuel.
  • Mixed fortunes (2 of 2)

    NEWS
  • Mordechai shuns Likud for centre party

    Israel's right wing is continuing to splinter ahead of the May general election. Former defence minister Yitzhak Mordechai left Likud to lead a new centre party on 27 January, turning the election campaign for prime minister into a three-horse race with Prime Minister Benjamin Netanyahu and Labour leader Ehud Barak.
  • MOROCCO

    BMCE Bank plans to open a representative office in London at the end of February, followed by Beijing in April and Milan at a later date. BMCE is now represented in London through an office at the headquarters of Barclays Bank, and in Milan by a similar arrangement with Banca Commerciale Italiana.
  • MOROCCO

    Insurance and financial institutions bore the brunt of the week's minor decline, say brokers, although the energy and mining sectors helped limit the damage to less than 0.5 per cent for each of the three major indices. Losers included the markets largest capitalisation, ONA Group, Banque Marocaine du Commerce Exterieur and oil refinery Samir.
  • MOROCCO

    NEWS
  • MOROCCO Annan considers response to Western Sahara proposals

    NEWS
  • MOROCCO BMCE becomes largest financial group

    NEWS
  • MOROCCO BMCE becomes largest financial group

    Banque Marocaine du Commerce Exterieur (BMCE) and its major shareholder Royal Marocaine d'Assurances (RMA) have paid French insurance group Groupama- GAN FF 2,000 million ($357 million) for its stakes in insurance groups Al-Wataniya and Alliance Africaine, officials at BMCE say.
  • MOROCCO Candidates shortlisted for second GSM licence

    NEWS
  • MOROCCO IN BRIEF

    NEWS
  • MOROCCO IN BRIEF

    Germany has signed an accord to provide $33 million to finance water cleansing projects, the official MAP news agency reported on
  • MOROCCO IN BRIEF

    NEWS
  • MOROCCO ONE spells out Western Sahara plans

    The details of plans by Office National de l'Electricite (ONE) to invest MD 534 million ($58 million) in expanding the national grid in Western Sahara have been revealed. ONE announced its investment plans on 16 December (MEED 8:1:99). The costs are laid out as follows:
  • MOROCCO ONE spells out Western Sahara plans

    NEWS
  • MOROCCO ONE to spend $58 million on West Sahara expansion

    NEWS
  • MOROCCO World Bank mulls $100 million loan

    The World Bank is to discuss a $100 million loan on 26 January, officials at the bank say. The money is to help liberalise and develop the country's telecommunications network.
  • MOROCCO World Bank mulls $100 million loan

    NEWS
  • MOROCCO: Bids invited for Tangiers utilities project

    NEWS
  • MOROCCO: Bids invited for Tangiers utilities project

    International companies were invited on 12 January to prequalify by the end of February for a contract to supply power and water to the northern city of Tangiers. This is the third Moroccan city to tender for the privatisation of its utilities.
  • MOROCCO: IN BRIEF

    NEWS
  • MOROCCO: IN BRIEF

    State-run power supplier Office National d'Electricite (ONE) has secured a licence to buy and sell electricity in Spain, an ONE official says. This follows the interconnection of the two countries' grids.
  • Most markets sleepy over holiday period

    Middle East stock markets were virtually unchanged in a week shortened by the Eid al-Fitr holiday. Most bourses only traded for one or two days.
  • Most markets sleepy over holiday period

    NEWS
  • NBAD headquarters goes for bid

    Tender documents were released in early January for the construction of the new headquarters for National Bank of Abu Dhabi (NBAD). Ten international contractors have been prequalified to submit bids by 13 February for the contract, which is expected to be worth up to AED 200 million ($54.2 million).
  • Netanyahu primes the pump

    NEWS
  • Netanyahu primes the pump

    Israeli Prime Minister Benjamin Netanyahu is pursuing an expansionary economic policy as he seeks re-election in May. In his capacity as acting finance minister, he has revised Israel's 1999 inflation target upwards to 6 per cent from 4 per cent, and pushed through a previously blocked programme for free pre-school education.
  • Oil becalmed as winter boost wanes

    Oil prices continue to languish around $11 a barrel with little to suggest that they will strengthen soon. The surge of buying by Asian refiners has slowed and the upside pressure from colder winter weather has evaporated. The latest inventory figures from the American Petroleum Institute, showing a 5.4 million-barrel crude oil stockbuild in the week to 22 January, compounded the bearish tone.
  • Oil group pulls out of Caspian venture

    The development of oil resources in the Caspian Sea was dealt a blow in mid-January with the withdrawal of the Caspian International Petroleum Company (Cipco) from exploration activity in Azerbaijan's offshore areas. Cipco entered Azerbaijan in 1995, the second international consortium to do so after Azerbaijan International Oil Company (AIOC).
  • OIL: The greatest discovery ever made

    NEWS
  • OIL: The greatest discovery ever made

    AS the 20th century dawned, the oil industry was facing the same challenge it is encountering today - too much supply and not enough demand.
  • Old guard on parade as campaign warms up

    Algeria is once more going through the ordeal of trying to refashion its political establishment following President Zeroual's surprise decision last year to stand down before the end of his term. New elections have been set for mid-April, and a succession of candidates have come forward representing various strands of political life.
  • Old guard on parade as campaign warms up

    NEWS
  • OMAN

    NEWS
  • OMAN

    NEWS
  • OMAN

    Cable lines
  • OMAN

    The Capital Market Authority formally separated from the Muscat Securities Market (MSM) on 16 January, under the capital market law reforming the Muscat bourse. The regulations are aimed at tightening procedures for issuing new shares and applying more rigorous reporting requirements on listed companies. The new authority will regulate the MSM as well as guaranteeing investors' rights (MEED 11:12:98).
  • OMAN

    Power and desalination plants
  • OMAN

    Omani stocks began the year strongly, rising 4.4 per cent to 238.66. Among the week's gainers were Muscat Index Fund, climbing
  • OMAN

    Laboratory items
  • OMAN

    The local Al-Hassan Engineering Company has taken the civil, mechanical, electrical and instrumentation package on the 90-MW Hubara power plant project. Placed by main contractor India's Bharat Heavy Electricals (BHEL), the RO 3.8 million ($9.7 million) order calls for the installation of three 30-MW gas turbines supplied by BHEL in collaboration with the US' General Electric. It also involves the erection of a gas turbine generator with a transformer, a gas treatment plant, 132-kV switchgear
  • OMAN Budget deficit set to double in 1999

    NEWS
  • OMAN Budget deficit set to double in 1999

    The government has announced a 1999 budget projecting a deficit of RO 631 million ($1,638 million), more than twice the figure for 1998. The actual deficit was RO 311 million ($808 million) for the year, slightly above the projected RO 295 million ($782 million).
  • OMAN Financing for fertiliser plant nears completion

    NEWS
  • OMAN Gas oil

    Details of the tender may be obtained from Tenders Board, PO Box 787, Al-Khuwair 133, telephone 602073, fax 602063:
  • OMAN Gas oil

    NEWS
  • OMAN IN BRIEF

    Oman Ceramics Company has won a contract worth $7.3 million from the UK's Brices Co International Export to provide machinery and equipment for a ceramics project in Sohar. The proposed RO 6.5 million ($16.8 million) plant is set to produce 375,000 pieces of sanitary ware products a year.
  • OMAN IN BRIEF

    NEWS
  • OMAN Indian partners seek urea buyer

    NEWS
  • OMAN Indian partners seek urea buyer

    The Indian partners in the Sur ammonia-urea project have begun to look for international buyers for the entire 145,000-tonne-a-year urea output. A bid invitation has been issued on behalf of the Indian partners by Krishak Bharati Co-operative calling for proposals to buy the urea by 11 January.
  • OMAN Laboratory equipment

    Details of the tender may be obtained from Tenders Board, PO Box 787, Al-Khuwair 133, telephone 602073, fax 602063:
  • OMAN Laboratory equipment

    NEWS
  • OMAN Medical equipment

    NEWS
  • OMAN Medical equipment

    Details of the tender may be obtained from Tenders Board, PO Box 787, Al-Khuwair 133, telephone 602073, fax 602063:
  • OMAN Sports complex O&M

    NEWS
  • OMAN Sports complex O&M

    Details of the tender may be obtained from Tenders Board, PO Box 787, Al-Khuwair 133, telephone 602073, fax 602063:
  • OMAN Transmission system reinforcement

    NEWS
  • OMAN Transmission system reinforcement

    Details of the tender may be obtained from Tenders Board, PO Box 787, Al-Khuwair 133, telephone 602073, fax 602063:
  • PAKISTAN

    Filters
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Vaccines
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Privatisation
  • PAKISTAN

    Water supply construction
  • PAKISTAN

    Maintenance of surface drainage system
  • PAKISTAN

    Coating pipes
  • PAKISTAN

    NEWS
  • PAKISTAN

    Drainage scheme
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Gains on the first day of trading were insufficient to cushion the heavy fall on the Karachi Stock Exchange on news that a pure terephthalic acid (PTA) joint venture between ICI Pakistan and DuPont had been scrapped. The end of the deal leaves ICI responsible for all the liabilities of a $450 million six-month-old PTA plant, which is experiencing heavy losses due to a drop in global prices and low domestic demand. The subsequent run on ICI saw shares drop from Rs 12.1 ($0.25) to Rs 10.6 ($0.2
  • PAKISTAN

    Irrigation and drainage
  • PAKISTAN

    Wastewater injection pumps
  • PAKISTAN

    Lead
  • PAKISTAN

    An otherwise dull week was animated by media speculation about the revival of international financial support for the cash-strapped economy. However, the optimistic expectations did little to boost the Karachi Stock Exchange which, after small gains early in the week, was range-bound between 940 and 950 points. The 2 per cent gain on the week benefited Hub Power Company (Hubco), which closed at Rs 12.95 ($0.26), seemingly unaffected by a pending court case for alleged corruption. Another clim
  • PAKISTAN

    Details of the following three tenders may be obtained from Baluchistan Irrigation & Drainage Authority (BIDA), the Chief Engineer, Irrigation Circle Sibi, Baluchistan:
  • PAKISTAN

    Medicines
  • PAKISTAN

    A bomb blew up a drainage bridge on Raiwind road near Lahore on 3 January in what has been termed as an assassination attempt on Prime Minister Nawaz Sharif. The road leads to Sharif's palatial residence in the outskirts of Lahore city. He was scheduled to cross the bridge an hour after the blast took place, killing three pedestrians and critically injuring two policemen. The blast was followed by the killings of 17 Shia Muslims at dawn on 4 January when they were gunned down while saying pra
  • PAKISTAN Bulldozers

    NEWS
  • PAKISTAN Computers, printers and UPS units

    NEWS
  • PAKISTAN Distribution transformers

    NEWS
  • PAKISTAN Distribution transformers

    Details of the tender may be obtained from Chief Engineer (Rehabilitation & Energy Loss Reduction)/Project Director, Water & Power Development Authority (WAPDA), 410 WAPDA House, Lahore, telephone 9202153, fax 9202153, telex 44869 wapda pk:
  • PAKISTAN Drainage scheme

    NEWS
  • PAKISTAN Drainage scheme

    Construction of 40,000 metres of farmer-managed interceptor cum sub-surface drains as part of the Fordwah eastern Sadiqia (south) irrigation and drainage project. The drains are to be built at three sites. They comprise sub- surface corrugated perforated plastic drain pipes of diameters from 100- 375 millimetres and construction of sumps, installation of pumps, manholes, disposal channels, road crossings and other related civil works. Financed by the International Development Association. Bid
  • PAKISTAN Energy meters

    NEWS
  • PAKISTAN Energy meters

    Details of the tender may be obtained from Chief Engineer (Rehabilitation & Energy Loss Reduction)/Project Director, Water & Power Development Authority (WAPDA), 410 WAPDA House, Lahore, telephone 9202153, fax 9202153, telex 44869 wapda pk:
  • PAKISTAN Leak clamps

    NEWS
  • PAKISTAN Office equipment

    NEWS
  • PAKISTAN Survey equipment

    Supply of survey equipment for Punjab and Baluchistan as part of the national drainage programme. Financed by the International Development Association. Bid bond is 2 per cent of tender price.
  • PAKISTAN Survey equipment

    NEWS
  • PAKISTAN: Hubco accuses government of default

    The country's largest independent power producer (IPP), Hub Power Company (Hubco), has accused the government and the Water & Power Development Authority (WAPDA) of defaulting on payments owed to the company. The 12 January accusation came just days after the government authorised Hubco to remit a $54.8 million debt payment to its international creditors.
  • PAKISTAN: Hubco accuses government of default

    NEWS
  • PAKISTAN: IMF agrees to lend $575 million

    The IMF confirmed on 15 January that it will provide $575 million in loans as part of the enhanced structural adjustment facility (ESAF) programme. Under the terms of the package, Islamabad will get a $500 million contingency loan, to be repaid in five years on commercial terms, and $75 million on concessionary terms (MEED 4:12:98).
  • PAKISTAN: IMF agrees to lend $575 million

    NEWS
  • PAKISTAN: IN BRIEF

    The American Energy Group announced on 15 January that its wholly owned subsidiary Hycardbex-American Energy expects to start drilling its second exploratory well, David 1, in the Jacobabad concession in central Pakistan within the next three weeks. The primary target depth of the new well is estimated at 4,800 feet, where the company hopes to test the Sui Main Limestone, an Eocene period formation, although other significant geological formations will be evaluated during the drilling process
  • PAKISTAN: IN BRIEF

    ICI Pakistan, a subsidiary of the UK's ICI, and the US-based Dupont Company have ended a joint venture deal under which they were to own a purified terephthalic acid (PTA) plant. The plan for Pakistan PTA ended after Dupont and NL Industries scrapped their agreement with ICI to buy its Tioxide businesses. ICI owns 61 per cent of ICI Pakistan whose board of directors approved in mid-April the sale of 50 per cent equity in its PTA plant to Dupont (MEED 1:5:98).
  • PAKISTAN: IN BRIEF

    NEWS
  • PAKISTAN: IN BRIEF

    NEWS
  • Pakistan: SBP predicts economy will rebound in 1998/99

    THE economy is expected to grow at about 4 per cent in the financial year 1998/99 despite a rocky first six months, the State Bank of Pakistan (SBP - central bank) says in its recently published 1997/98 annual report. However, the central bank adds that greater efforts are needed to restructure the economy for sustained long-term growth.
  • Pakistan: SBP predicts economy will rebound in 1998/99

    NEWS
  • PALESTINE

    NEWS
  • PALESTINE

    A slow week for the Palestinian bourse, which remained stable at 154.96, was punctuated by the appointment of Suliman Abbadi on 1 January as general manager of the Palestine Securities Exchange (PSE). Abbadi replaces Safwan Batainah, who left the bourse at the end of November 1998 to join Arab Palestine Investment Bank as chief executive officer (see Gaza/West Bank).
  • Pax Americana: US policy in a spin

    NEWS
  • PB POWER: Familiar names forge powerful alliance

    NEWS
  • PB POWER: Familiar names forge powerful alliance

    ITS name may not be that familiar, but its constituents are are well known in the world of power engineering. On 31 October, New York-based Parsons Brinckerhoff announced the formation of PB Power to undertake energy-related services worldwide. Combining the resources of the US' Parsons Brinckerhoff Energy Services, New Zealand's DesignPower, and the two UK firms of Merz & McLellan and Kennedy & Donkin, the new group became one of the 10 largest international power engineering companies overn
  • People

    Egyptian-born Nemat Shafik (above) has become the first woman to attain the rank of vice-president at the World Bank. She is to head the infrastructure and private sector development section at the bank. Shafik, 36, was educated in the US and UK, and obtained a doctorate in economics from Oxford University in 1989. She has been with the World Bank since 1990, most recently working as director for private sector development and finance in the Middle East & North Africa department.
  • Profits dip at Arbift

    Net profits at UAE-based Arab Bank for Investment & Foreign Trade (Arbift) fell by 8 per cent to AED 153 million ($41.7 million) in 1998, the bank announced on 14 January. A 12 per cent dividend has been proposed compared with 10 per cent in 1997.
  • Profits dip at Arbift

    NEWS
  • QATAR

    Medical equipment
  • QATAR

    Raw materials
  • QATAR

    NEWS
  • QATAR

    Office furniture
  • QATAR

    NEWS
  • QATAR

    Pest control
  • QATAR

    Spare parts
  • QATAR

    The index managed to maintain the 6 per cent gain from mid-December, closing only slightly down at 277.06. The main news of the week was the completion of the initial public offering (IPO) in Qatar Telecom (Q-Tel), which was 14 per cent oversubscribed. Trading in Q-Tel shares, representing 45 per cent of the company equity, will begin on 3 January.
  • QATAR

    Medicine
  • QATAR

    Cooling water vibration monitors
  • QATAR

    Office moves
  • QATAR

    The Commercial Bank of Qatar's index began the new year stable, with light trade increasing its value just under one point, or 0.35 per cent, to close at 228.01.
  • QATAR

    Spare parts
  • QATAR Ethylene chloride and caustic soda

    NEWS
  • QATAR Fire-fighting rings

    Details of the tender may be obtained from Qatar Petrochemical Company (Qapco), Fifth Floor, Al-Abdulghani Tower, Doha, fax 770459:
  • QATAR Fire-fighting rings

    NEWS
  • QATAR Heavy demand for Q-Tel offering

    NEWS
  • QATAR IN BRIEF

    NEWS
  • QATAR Mechanical equipment

    Details of the tender may be obtained from Qatar Petrochemical Company (Qapco), Fifth Floor, Al-Abdulghani Tower, Doha, fax 770459:
  • QATAR Mechanical equipment

    NEWS
  • QATAR Oil platform upgrade and refurbishment

    Details of the tender may be obtained from Qatar General Petroleum Corporation, Room 225, Projects Administration Services (Offshore) Section, Main Building, Ras Abu Abboud, PO Box 47, Doha, telephone 402858, fax 402584, telex 4201 qatoff dh:
  • QATAR Oil platform upgrade and refurbishment

    NEWS
  • QATAR Oil transformers

    NEWS
  • QATAR Oil transformers

    Details of the tender may be obtained from Qatar Petrochemical Company (Qapco), Fifth Floor, Al-Abdulghani Tower, Doha, fax 770459:
  • QATAR QVC signs financing package

    NEWS
  • QATAR Tank farms civil works

    Details of the tender may be obtained from Qatar General Petroleum Corporation, Room 225, Projects Administration Services (Offshore) Section, Main Building, Ras Abu Abboud, PO Box 47, Doha, telephone 402858, fax 402584, telex 4201 qatoff dh:
  • QATAR Tank farms civil works

    NEWS
  • QATAR Valves and pipe fittings

    NEWS
  • QATAR: IN BRIEF

    The Ministry of Awqaf & Islamic Affairs has invited bids by 2 March for the construction of a housing complex, known as Fariq Soudan, north of the Al-Saad sports club. Valued at about QR 100 million ($27.2 million), the project comprises the construction of 131 three and four-bedroom villas, a mosque, a supermarket, swimming pools, tennis courts and a maintenance store. A total of 14 contractors have been prequalified to bid for the contract, of which seven are local, four are from Saudi Arab
  • QATAR: IN BRIEF

    NEWS
  • QATAR: Prequalifiers prepare technical bids for NGL-4

    NEWS
  • QATAR: Prequalifiers prepare technical bids for NGL-4

    Prequalifiers for the NGL-4 project at Mesaieed have begun preparing technical bids following the release of the 'rev-one' portion of the tender documents by Qatar General Petroleum Corporation (QGPC). Companies have been given until March to submit technical bids for the engineering, procurement and construction (EPC) contract, while commercial quotes are expected to be returned about two months later. The NGL-4 project involves the construction of the state's fourth natural gas liquids (NGL
  • QATAR: Ratings agencies differ over effect of low oil prices

    Two US ratings agencies have issued contrasting outlooks for Qatar's foreign currency ceiling in light of financial difficulties created by low oil prices.
  • QATAR: Ratings agencies differ over effect of low oil prices

    NEWS
  • QATAR: Reshuffle merges energy ministries

    Amir Sheikh Hamad Bin Khalifa al-Thani has merged the Ministry of Energy & Industry with the Ministry of Electricity & Water (MEW) as part of a minor cabinet reshuffle.
  • QATAR: Reshuffle merges energy ministries

    NEWS
  • REGIONAL FOCUS: Arab wins Jerusalem land tender

    Israel Land Authority has awarded a contract to develop 3,600 square metres of land along the pre-1967 dividing line in Jerusalem to Elias Khouri, an Israeli Arab. This is the first time that the Israeli government has sold land in Jerusalem to an Arab, the Israeli daily Ha'aretz reports.
  • REGIONAL FOCUS: Arab wins Jerusalem land tender

    NEWS
  • REGIONAL FOCUS: Investment in Israel plummets in 1998

    NEWS
  • REGIONAL FOCUS: Investment in Israel plummets in 1998

    Net foreign investment in Israel dropped by 55 per cent to $1,458 million in 1998 as investors deserted Israeli securities due to worldwide turmoil in emerging markets and the lack of progress in peace talks with the Palestinians.
  • REGIONAL FOCUS: Oil stuck below $11 a barrel

    Despite sizeable daily fluctuations, oil prices spent the third week of January hovering below $11 a barrel as the downside pressures of recent months persisted. The recovery that appeared to be under way earlier in the month when the weather turned colder has petered out amid signs that OPEC discipline is under increasing strain.
  • REGIONAL FOCUS: Oil stuck below $11 a barrel

    NEWS
  • REGIONAL FOCUS: Pressure mounts on Shahak to withdraw

    The Israeli Labour Party is stepping up pressure on centrist candidate Amnon Lipkin-Shahak to withdraw from the 17 May election for prime minister to prevent Likud leader Benjamin Netanyahu's re-election.
  • REGIONAL FOCUS: Pressure mounts on Shahak to withdraw

    NEWS
  • REGIONAL FOCUS: Turkmenistan trebling gas output

    NEWS
  • REGIONAL FOCUS: Turkmenistan trebling gas output

    Turkmenistan plans to triple natural gas production to about 36,000 million cubic metres (mcm) this year from 13,000 mcm in 1998, according to the Oil & Gas Industries & Natural Resources Ministry in Ashgabat. The bulk of the extra gas will be exported.
  • SAUDI ARABIA

    Cable and optical fibre system
  • SAUDI ARABIA

    Radio network consultancy
  • SAUDI ARABIA

    Glad to have finished the third worst year in the history of the bourse, Saudi brokers began the year on a high note. Signs of recovery were boosted on 7 January by the news of plans for Saudi American Bank to merge with United Saudi Bank. This immediately prompted a rally in banking stocks.
  • SAUDI ARABIA

    The National Centre for Financial & Economic Information index continued to recover ground lost in mid-December with a gain of just under 1 per cent. The market closed the week to 22 December up 1.2 points at 137.11,
  • SAUDI ARABIA Austerity budget announced for 1999

    The government has announced an austere budget for 1999, reflecting the sharp drop in oil income (see Cover Story).
  • SAUDI ARABIA Austerity budget announced for 1999

    NEWS
  • SAUDI ARABIA Bids in for Al-Masane mining scheme

    NEWS
  • SAUDI ARABIA Crew boat leasing and operation

    NEWS
  • SAUDI ARABIA IN BRIEF

    NEWS
  • SAUDI ARABIA IN BRIEF

    NEWS
  • SAUDI ARABIA IN BRIEF

    The newly-formed Gulf Stabilisers Company will invite bids for the engineering, procurement and construction (EPC) contract on its planned antioxidants plant by April, company president Esam Himdy told the local daily Saudi Gazette in an interview published on 1 January. Gulf Stabilisers Company is a joint venture between the local Al-Zamil Group and the US' Great Lakes Chemical Corporation. The plant will produce 5,700 tonnes a year of phenolic and phosphite antioxidants. The plant is due to
  • SAUDI ARABIA IN BRIEF

    NEWS
  • SAUDI ARABIA IN BRIEF

    NEWS
  • SAUDI ARABIA New power company close to formation

    NEWS
  • SAUDI ARABIA Samba and USB announce merger plans

    NEWS
  • SAUDI ARABIA Samba and USB announce merger plans

    Two of the kingdom's leading financial institutions, Saudi American Bank (Samba) and United Saudi Bank (USB), announced on 6 January that they are in preliminary discussions about a merger. The due diligence process is expected to be completed within
  • SAUDI ARABIA: Bids postponed for TEP-8

    Bidders for the telephone expansion project 8 (TEP-8) have been requested by Saudi Telecommunications Company (STC) to submit new prices by 15 February. Six international firms submitted offers for the scheme in late November (MEED 11:12:98).
  • SAUDI ARABIA: Bids postponed for TEP-8

    NEWS
  • SAUDI ARABIA: IN BRIEF

    NEWS
  • SAUDI ARABIA: IN BRIEF

    NEWS
  • SAUDI ARABIA: IN BRIEF

    A consortium of Dywidag (Saudi Arabia), an associate company of Germany's Dyckerhoff & Widmann, and the local Al-Yusr Townsend & Bottum (AYTB) has been awarded a subcontract on the expansion project under way at Al-Jubail Petrochemical Company (Kemya). The consortium will carry out steel erection, pipe fabrication and erection, equipment installation, instrumentation works, painting and commissioning on the 218,000-tonne-a-year (t/y) low- density polyethylene plant (LDPE) being constructed by
  • SAUDI ARABIA: IN BRIEF

    Riyadh-based Erad International Trading Company has secured a licence from the government to set up the kingdom's first computer company at a cost of SR 20 million ($5.3 million), according to the Saudi Commerce & Economic Review published by the Eastern Region's Chamber of Commerce & Industry. The plant will produce 36,000 units a year. Egyptian partners are expected to contribute 20 per cent of the capital.
  • SAUDI ARABIA: Minister eases rules for joint stock conversion

    Commerce Minister Osama Jafar Faqih has given an unexpected boost to the stock exchange by revising major clauses in the regulations governing the conversion of firms into joint stock companies. Clauses one, two, three and four of Article II and two clauses in Article III have been amended to make it easier for firms to convert into joint stock entities.
  • SAUDI ARABIA: Minister eases rules for joint stock conversion

    NEWS
  • SAUDI ARABIA: Profits soar at SAIB

    NEWS
  • SAUDI ARABIA: Profits soar at SAIB

    Saudi Investment Bank (SAIB) posted a 47 per cent rise in net profit in 1998 to SR 230.4 million ($61.4 million) from SR 156.9 million ($41.8 million) in full-year 1997. SAIB is the first of the listed banks to post results for last year.
  • Saudi cement producers face the inescapable logic of mergers

    WHEN a group of Saudi cement company executives gathered in Jeddah at the end of Ramadan, the talk was again of crisis management. How could producers tackle the problem of huge over-capacity in the local market and defend themselves from the resultant slide in prices?
  • Scientists reap King Faisal awards

    NEWS
  • Scientists reap King Faisal awards

    Four international scientists have been selected alongside four Arabs to receive Saudi Arabia's prestigious King Faisal International Prizes for 1999.
  • Securities trading revives TAIB

    Strong performances in securities trading and private equity deals have helped boost net profits at TAIB Bank to $10.1 million in 1998, says the Manama-listed bank in its year-end results. The 39 per cent increase reverses last year's provisions-affected $3.1 million drop in net profits.
  • Special Report: CONSTRUCTION

    NEWS
  • STOCK MARKET WATCH: Egypt keeps up the momentum

    The Egyptian stock market has continued to surge ahead on a wave of confidence from local and international investors alike. The Moroccan and Tunisian markets are also having a good start to the year, while in the Gulf the star performers have been Oman and the UAE, the former lifted by government policy adjustments, the latter looking forward to the launch of the official bourse.
  • SUDAN

    NEWS
  • SUDAN

    NEWS
  • SUDAN

    The annualised inflation rate was down to 8 per cent in December, compared with 14 per cent the previous month, according to Finance & National Economy Minister Abdel Wahab Osman. The figures compare with official forecasts of 20 per cent for 1998 and 10 per cent by the end of 1999. Fighting inflation has been a top priority for the government, which has curtailed public spending and borrowing from banks and imposed budgetary controls across the board. The government said in October the econo
  • SYRIA

    NEWS
  • SYRIA

    Rice
  • SYRIA

    State oil marketing firm Sytrol has had a tricky problem lining up terms sales contract customers for 1999, following the decision of the Royal/Dutch Shell Group to cancel its agreement to lift 21,000 barrels a day (b/d), reports Petroleum Intelligence Weekly (PIW). The newsletter says the contract list for Syrian Light has fallen to 202,000 b/d from 232,000 b/d, while that for heavy crude remains at 65,000 b/d. Shell, whose local joint venture is Syria's largest oil producer, is said to have
  • SYRIA

    NEWS
  • SYRIA

    The Saudi Binladin Group is reported to have secured approval from the Investment Authority for a proposal to build an estimated $6 million olive oil pressing plant. The plant will have a capacity of 15,000 tonnes a year of olive oil, according to the London daily
  • SYRIA

    NEWS
  • SYRIA Enel wins Banias power contract

    NEWS
  • SYRIA: IN BRIEF

    NEWS
  • SYRIA: IN BRIEF

    Italy's Ansaldo Trasmissione & Distribuzione has confirmed industry reports of its selection for a contract to build two substations in the Damascus area (MEED 25:12:98). The company says it received a letter of intent from the Public Establishment for Electricity Generation & Transmission on 7 January nominating Ansaldo as the candidate contractor for the project. It involves the turnkey construction of 230/66-kV gas insulated switchgear (GIS) substations at Al-Mazraa and Al-Zahiriya. The It
  • SYRIA: Turkish/German team wins power line contract

    NEWS
  • SYRIA: Turkish/German team wins power line contract

    A consortium of Turkey's Galkon and Germany's SAG is understood to have been selected for the contract to build the Syrian section of the 400- kV power line interconnection with Turkey. The order is valued at $40 million (MEED 4:7:97).
  • Text of French proposal on Iraq to the UN Security Council

    TAKING into account the new situation, France proposes to the Security Council an approach vis-a-vis the Iraqi question in order to open new perspectives and to ensure on a long-term basis regional stability and security, while improving the fate of the population.
  • Text of French proposal on Iraq to the UN Security Council

    NEWS
  • The field opens up for private developers

    NEWS
  • The field opens up for private developers

    The sudden shrinkage in the finances of Gulf oil exporters has not unduly worried suppliers of capital equipment to the region, in particular those involved in the electricity business. For them, the enforced realisation that governments cannot afford to carry out major infrastructure projects themselves means that new opportunities should open up for private developers. The privatisation penny has already dropped in some Middle East states outside the Gulf - notably Egypt and Morocco - and t
  • The government of Saudi Arabia

    NEWS
  • The government of Saudi Arabia

    ACCORDING to the basic system of government published and made law in 1992, Saudi Arabia is governed by the sharia. As such, all manmade rules and regulations are ultimately subordinated to the word of God as revealed in the Koran and the sunna (words) of the prophet Mohammad.
  • The kingdom faces the future

    NEWS
  • The kingdom faces the future

    The kingdom of Saudi Arabia has two personalities that present contrasting faces to the outside world. Its cities have been physically transformed by three decades of development. The people of Saudi Arabia are more engaged than ever before in international commerce and the technological revolution. At the same time, tradition expresses itself strongly in family and tribal ties, loyalty to the ruling Al-Saud family and diligent attention to the obligations of their faith.
  • The Making of the Modern Gulf

    NEWS
  • The Wells of Memory: An Autobiography

    NEWS
  • Thomson: Gulf banks unharmed by low oil prices

    NEWS
  • Thuraya finalises loan terms

    Abu Dhabi-based Thuraya Satellite Telecommunications Company is understood to have finalised terms of the $600 million loan for its $1,000 million satellite project with the four lead arrangers.
  • Trans-Caspian pipeline consortium planned

    NEWS
  • TUNISIA

    NEWS
  • TUNISIA

    Modular production system
  • TUNISIA

    Concrete pipes
  • TUNISIA

    Spare parts
  • TUNISIA

    Thin trade for the Tunis Stock Exchange was momentarily lifted by the Tunis Meridien-managed Hotel Africa, which announced inflated proceeds following its privatisation. However, this failed to boost either of the two main indices, Tunindex and the BVMT, which ended the week relatively unchanged at 916.38 and 464.88 respectively.
  • TUNISIA

    Vehicles
  • TUNISIA

    Radio communication equipment
  • TUNISIA

    Robots
  • TUNISIA

    Chlorination facilities
  • TUNISIA

    Tanning equipment
  • TUNISIA

    Vehicles
  • TUNISIA

    Teaching equipment
  • TUNISIA

    Stocks rose slightly in the week, with the Tunindex up just 0.11 per cent and the BVMT index up 0.5 per cent. Glass manufacturer Societe Tunisienne du Verre (Sotuver) - one of seven companies lined up for privatisation in 1999 - dominated the week with the launch of an initial public offering (IPO) for 49 per cent of its capital. A total of 254,697 shares were put on offer at a minimum price of TD 13 ($11.92) apiece. The proceeds will fund investments worth TD 16 million ($14.7 million) to bo
  • TUNISIA

    Water equipment
  • TUNISIA

    The Islamic Development Bank (IDB) is to extend a $15.75 million loan to the government to help finance drainage projects, Reuters reports.
  • TUNISIA

    NEWS
  • TUNISIA

    Spare parts
  • TUNISIA

    Spare parts
  • TUNISIA

    Scientific equipment
  • TUNISIA

    Corexland, the Dutch subsidiary of France's Coparex, has issued a letter of intent to the UK's Victoria Oilfield Development and the US' Sarost for a floating production, storage and offloading (FPSO) vessel for the offshore Isis oil field. First oil production is expected in May
  • TUNISIA Privatisation moves ahead

    NEWS
  • TURKEY

    Coal production
  • TURKEY

    Shares in Turkey advanced 6 per cent in the week to 22 December, as hopes rose that President Suleyman Demirel would move quickly to resolve the political impasse created by Bulent Ecevit's inability to form a new coalition government (see Turkey). The most actively traded shares were private commercial bank Yapi Kredi Bank, which remained unchanged at TL 3,500 ($0.011), and Sabanci Holding, which closed at TL 4,500 ($0.014).
  • TURKEY

    Operation management information system
  • TURKEY

    Computer equipment
  • TURKEY

    Airport terminal and parking lot
  • TURKEY

    Transformer and circuit-breakers
  • TURKEY Bosphorus radar tender reissued

    NEWS
  • TURKEY Dam construction

    Construction of Degirmendere dam and its related plants and utilities for the General Directorate of Izmir, Water & Sewerage Administration (IZSU). Bid bond is TL 5,520.
  • TURKEY Demirel choice awaited after Ecevit drops out

    NEWS
  • TURKEY Ecevit may have second try at government

    NEWS
  • TURKEY Ecevit may have second try at government

    Veteran leftist leader Bulent Ecevit looked likely to get a second chance in early January to try to form a government following the failure of prime minister-designate Yalim Erez to put together a working political coalition. Ecevit, who failed in his first bid to form an administration in December, was tipped as President Demirel's most obvious choice for ending the protracted political crisis precipitated by the fall of the Mesut Yilmaz government in November.
  • TURKEY IN BRIEF

    NEWS
  • TURKEY IN BRIEF

    The European Investment Bank is to lend ECU 32 million ($36.2 million) for environmental protection in Diyarbakir, on the River Tigris, in the southeast. The funds will be used for the expansion and rehabilitation of the sewerage system and the construction of a wastewater treatment plant.
  • TURKEY IN BRIEF

    NEWS
  • TURKEY Mitsui/Nippon Steel well placed for Erdemir job

    NEWS
  • TURKEY Mitsui/Nippon Steel well placed for Erdemir job

    A Japanese consortium of Mitsui & Company and Nippon Steel Corporation has submitted the lowest bid for a contract to build a continuous galvanising line (CGL) for Eregli Iron & Steel Works (Erdemir).
  • TURKEY Railway construction

    NEWS
  • TURKEY Railway construction

    (Open to local contractors or local contractors in joint venture with foreign firms only.) Construction of a railway between Alanya and Antalya on a build-operate-transfer (BOT) basis.
  • TURKEY Sewerage network design

    For the design of wastewater and stormwater networks and a small irrigation network in Diyarbakir. Financed by the European Investment Bank through the Mediterranean Environment Technical Assistance Programme (METAP). The estimated price of the work is ECU 450,000. The contracting firm will be required to complete the design works and prepare bidding documents during April-December 1999.
  • TURKEY Surveys and project design

    Prequalification. For surveys and project design works on the Ankara-Istanbul Speed Railway Project. Bid bond is TL 58,183 million.
  • TURKEY Transmission lines

    (Open to eligible countries as specified in the World Bank's 'Guidelines: Procurement under IBRD Loans and IDA Credits'.) The Turkish Electricity Generation & Transmission Corporation (TEAS) invites sealed bids from eligible bidders for line survey, tower plotting, environmental impact studies, supply of tower and line goods, tower fabrication, testing, transport, delivery and storage at site, complete erection, installation, complete wire stringing, commissioning, performance testing and han
  • TURKEY Wastewater treatment

    Construction of a wastewater treatment system at the Kayseri Organised Industrial Zone (OSB). Bidders will be required to present preliminary projects and explain the system and technical equipment to be selected. Bidders are required to present work completion certificates showing they have constructed and commissioned a similar industrial wastewater treatment plant with a capacity equivalent to a population of at least 50,000, or a domestic wastewater treatment plant with a capacity equival
  • TURKEY: Ecevit seeks IMF help on debt

    New Prime Minister Bulent Ecevit on 17 January won the approval of parliament for his government in a confidence vote and immediately said he would seek urgent assistance from the IMF to meet some $24,000 million in debt servicing obligations due in the first four months of this year. 'I wish they [the IMF] would look to the political and economic future of the country with optimism and try to help us without delay,' he said.
  • TURKEY: Ecevit seeks IMF help on debt

    NEWS
  • TURKEY: Ecevit wins approval for new government

    The role of leading Turkey to early elections in April has been given to veteran leftist Bulcent Ecevit, who was accepted as prime minister by President Suleyman Demiral on 11 January.
  • TURKEY: Ecevit wins approval for new government

    NEWS
  • TURKEY: IN BRIEF

    NEWS
  • TURKEY: IN BRIEF

    NEWS
  • TURKEY: IN BRIEF

    Newly appointed Prime Minister Bulcent Ecevit on the first day of his appointment pledged to seek parliamentary approval for a series of banking reforms. The draft banking bill awaiting approval includes plans to remove the 100 per cent state guarantee on bank deposits, which have been openly attacked by the chief executives of Akbank and Kocbank, according to local newspaper Hurriyet, and new legislation to encourage the merger of Turkey's plethora of small banks. However, industry experts e
  • TURKEY: IN BRIEF

    Turkey's foreign trade deficit narrowed slightly to $17,906 million in the first 11 months of 1998 compared to $19,766 million in the corresponding period of 1997, the State Statistics Institute says. Imports in January-November 1998 were down modestly at $41,660 million against $43,618 million in January-November 1997. Exports stood at $23,754 million compared to $23,852 million the year before.
  • TURKEY: TBW downgrades sovereign risk rating

    US credit ratings agency Thomson BankWatch (TBW) on 18 January said it has revised Turkey's economic outlook to negative from stable and assigned it a BB- sovereign risk rating.
  • TURKEY: TBW downgrades sovereign risk rating

    NEWS
  • TURKEY: Turk Telekom primed for sell-off

    The Privatisation Administration (OIB) on 15 January said it had completed preparation for the sell-off of Turk Telekom and would launch a tender in the coming weeks.
  • TURKEY: Turk Telekom primed for sell-off

    NEWS
  • TURKEY: UK/local venture wins Diyarbakir wastewater

    NEWS
  • TURKEY: UK/local venture wins Diyarbakir wastewater

    A joint venture of the local Metis and the UK's Fitzpatrick International has been awarded a $69.9 million contract to design and construct water and wastewater facilities in the eastern town of Diyarbakir.
  • Two faces of Arab industry

    When the Egyptian government first tried to privatise Beni Suef Cement Company in 1994 there were not many takers, and those offers that did come in were well below expectations. The company remained rooted in the public sector. Four years on, when the company was offered once again, the response from investors was very different. This was partly because the government had taken steps to reduce the company's debts, but it also reflected the much improved perception of the prospects for the Eg
  • UAE

    Joints for cables
  • UAE

    Predictions of a good year for the UAE's businesses has significantly boosted investor confidence in the Emirates' unofficial bourses, say brokers. Forthcoming results, particularly from the banking sector, are expected to show overall profit gains of about 10 per cent, with banks pushing towards 12 and 15 per cent, brokers add. 'We expect 1998 to have been a relatively good year for results, comparing favourably to the bumper year we had in 1997. It is not unrealistic to expect the markets t
  • UAE

    NEWS
  • UAE

    Geographical information system
  • UAE

    Maintenance of GPO
  • UAE

    Cable termination kits
  • UAE

    Cables
  • UAE

    Cables and distribution pillars
  • UAE

    Roads, bridges and culverts
  • UAE

    Transformers
  • UAE

    It was a calm week for the National Bank of Abu Dhabi's unofficial 27-share index, which closed down 1.17 per cent to end the week to 21 December at 3,316.14. The largest casualty from the previous week's repricing, Bank of Sharjah, which fell 15 per cent, remained stable at AED 18 ($4.90). Brokers say it has found its correct price, as has Emaar, which remains stable at AED 27 ($7.36).
  • UAE

    Wadi protection and diversion
  • UAE

    Maintenance of roads and bridges
  • UAE

    Ring main units
  • UAE

    Details of the following two tenders may be obtained from Dubai Electricity & Water Authority, Office of the Contracts Manager, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE Caravans

    Details of the tender may be obtained from Documents & Tenders Section, Department of Public Works, PO Box 3, Abu Dhabi, telephone 434111, fax 434338, telex 22663 works em:
  • UAE Caravans

    NEWS
  • UAE Civil and mechanical works on an olefins plant in Jubail

    Civil and mechanical works on an olefins plant in Jubail
  • UAE Civil and mechanical works on an olefins plant in Jubail

    NEWS
  • UAE Civil, mechanical, electrical and instrumentation subcontract on a linear low density polyethylene expansion project in Jubail, Saudi Arabia

    NEWS
  • UAE Civil, mechanical, electrical and instrumentation subcontract on a linear low density polyethylene expansion project in Jubail, Saudi Arabia

    Civil, mechanical, electrical and instrumentation subcontract on a linear low density polyethylene expansion project in Jubail, Saudi Arabia
  • UAE Construction of a cement plant in Beni Suef, Egypt

    Construction: selected contracts, October-December 1998
  • UAE Construction of a cement plant in Beni Suef, Egypt

    NEWS
  • UAE Construction of a headquarters for Emirates Telecommunications Corporation (Etisalat) in Al-Ain, UAE

    Construction of a headquarters for Emirates Telecommunications Corporation (Etisalat) in Al-Ain, UAE
  • UAE Construction of a headquarters for Emirates Telecommunications Corporation (Etisalat) in Al-Ain, UAE

    NEWS
  • UAE Construction of a power plant in Can, Turkey

    NEWS
  • UAE Construction of a power plant in Can, Turkey

    Construction of a power plant in Can, Turkey
  • UAE Construction of a substation in northeast Cairo, Egypt

    NEWS
  • UAE Construction of a substation in northeast Cairo, Egypt

    Construction of a substation in northeast Cairo, Egypt
  • UAE Construction of a water pipeline in Saudi Arabia

    NEWS
  • UAE Construction of a water pipeline in Saudi Arabia

    Construction of a water pipeline in Saudi Arabia
  • UAE Construction of the Shuaiba power plant, Saudi Arabia

    NEWS
  • UAE Construction of the Shuaiba power plant, Saudi Arabia

    Construction of the Shuaiba power plant, Saudi Arabia
  • UAE Contract for the ethylene package on the Ruwais petrochemical development, UAE

    NEWS
  • UAE Contract for the ethylene package on the Ruwais petrochemical development, UAE

    Contract for the ethylene package on the Ruwais petrochemical development, UAE
  • UAE Distribution transformers

    Details of the tender may be obtained from Office of the Contracts Manager, Dubai Electricity & Water Authority, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE Distribution transformers

    NEWS
  • UAE Distribution transformers

    NEWS
  • UAE Distribution transformers

    Details of the tender may be obtained from Office of the Contracts Manager, Dubai Electricity & Water Authority, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE Engineer, supply and construction of a turnkey rolling mill in Kuwait

    Engineer, supply and construction of a turnkey rolling mill in Kuwait
  • UAE Engineer, supply and construction of a turnkey rolling mill in Kuwait

    NEWS
  • UAE Engineering, procurement and construction contract for gas gathering network for OGD-2 programme, UAE

    Engineering, procurement and construction contract for gas gathering network for OGD-2 programme, UAE
  • UAE Engineering, procurement and construction contract for gas gathering network for OGD-2 programme, UAE

    NEWS
  • UAE Expansion of power capacity in the Yanbu industrial area, Saudi Arabia

    Expansion of power capacity in the Yanbu industrial area, Saudi Arabia
  • UAE Expansion of power capacity in the Yanbu industrial area, Saudi Arabia

    NEWS
  • UAE Gas turbine nozzles and buckets

    Details of the tender may be obtained from Office of the Contracts Manager, Dubai Electricity & Water Authority, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE Gas turbine nozzles and buckets

    NEWS
  • UAE IN BRIEF

    NEWS
  • UAE IN BRIEF

    The board of directors of International Petroleum Investment Company (IPIC) has been re-formed under Emiri decree. Sheikh Mansour Bin Zayed al-Nahyan has been retained as chairman of the eight-member board and Juan Bin Salim al-Dhaheri is deputy chairman. Other members are Yousef Omeir Bin Yousef, Khalifa Bin Nasser Huwailil, Mohammed Dhain al-Hamili, Nasser Bin Ahmed Khalifa al-Suweidi, Khalifa Mohammed Khalifa al-Kindi and Mohammed Nasser al-Khaili.
  • UAE Main project on the Golden Pyramids complex in Heliopolis, Egypt

    NEWS
  • UAE Main project on the Golden Pyramids complex in Heliopolis, Egypt

    Main project on the Golden Pyramids complex in Heliopolis, Egypt
  • UAE Maintenance and renovation works

    NEWS
  • UAE Maintenance and renovation works

    Details of the tender may be obtained from Documents & Tenders Section, Department of Public Works, PO Box 3, Abu Dhabi, telephone 434111, fax 434338, telex 22663 works em:
  • UAE Mini-distribution pillars

    Details of the tender may be obtained from Office of the Contracts Manager, Dubai Electricity & Water Authority, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE Mini-distribution pillars

    NEWS
  • UAE Package one on the first phase of the Dubai-Sharjah ring-road project, UAE

    NEWS
  • UAE Package one on the first phase of the Dubai-Sharjah ring-road project, UAE

    Package one on the first phase of the Dubai-Sharjah ring-road project, UAE
  • UAE Package two on the first phase of the Dubai-Sharjah ring-road project, UAE

    NEWS
  • UAE Package two on the first phase of the Dubai-Sharjah ring-road project, UAE

    Package two on the first phase of the Dubai-Sharjah ring-road project, UAE
  • UAE Tanker trailers

    NEWS
  • UAE Thuraya appoints arrangers for $600 million loan

    Abu Dhabi-based Thuraya Satellite Telecommunications Company announced on 27 December the appointment of a consortium of four banks to lead arrange the $600 million loan for its satellite project. The consortium of ANZ Investment Bank, Societe Generale and Union National Bank (UNB) has been joined by the newly-established Abu Dhabi Islamic Bank (ADIB - MEED 25:12:98, Finance).
  • UAE Thuraya appoints arrangers for $600 million loan

    NEWS
  • UAE Two contracts to install a grid link between Libya and Tunisia

    NEWS
  • UAE Two contracts to install a grid link between Libya and Tunisia

    Two contracts to install a grid link between Libya and Tunisia
  • UAE XLPE cables

    NEWS
  • UAE XLPE cables

    Details of the tender may be obtained from Office of the Contracts Manager, Dubai Electricity & Water Authority, PO Box 564, Dubai, telephone 3244444, fax 3248111, telex 45838 kahrba em:
  • UAE: ACC/Milne & Nicholls win Abu Dhabi Etisalat job

    NEWS
  • UAE: ACC/Milne & Nicholls win Abu Dhabi Etisalat job

    The local/Canadian joint venture of Arabian Construction Company (ACC) and Milne & Nicholls has taken its second major building contract in the space of three months from Emirates Telecommunications Corporation (Etisalat). The latest order, valued at AED 199.2 million ($54.3 million), involves the construction of a new office block on Airport road in Abu Dhabi city. In October, the venture won the estimated AED 100 million ($27.2 million) contract to build Etisalat's new headquarters in Al-Ai
  • UAE: ADSB puts new yard on hold, existing site to be upgraded

    The local/US Abu Dhabi Ship Building Company (ADSB) has put on hold plans to build a new shipbuilding and repair yard due to uncertain market conditions and a delay in the award of Liwa I and Liwa II contracts from the UAE Navy. It is now to upgrade its existing facility and has appointed the UK's Halcrow Group to prepare a masterplan for the development in four months. Halcrow will be assisted by First Marine International, another UK firm.
  • UAE: ADSB puts new yard on hold, existing site to be upgraded

    NEWS
  • UAE: Arab Contractors bids low for Mussafah port

    Egypt's Arab Contractors (Osman Ahmed Osman & Company) is the clear low bidder at AED 72 million ($19.6 million) to build the new industrial port at Mussafah in Abu Dhabi emirate, following the return of bids on 11 January. The contractor undercut its nearest rival, China Harbour Engineering Company, by 10 per cent. Eight international companies priced the Public Works Department (PWD) contract (UAE, MEED Special Report, 4:12:98).
  • UAE: Arab Contractors bids low for Mussafah port

    NEWS
  • UAE: Bouygues/Lootah wins Sharjah award

    NEWS
  • UAE: Bouygues/Lootah wins Sharjah award

    The French/local venture of Bouygues and SS Lootah Contracting is understood to have received a letter of award to carry out the Sharjah trade centre project. Project sources said in mid-January that the letter provides for the contract to be finalised by early March and that the venture has been requested to provide some financing for the design and build contract estimated at about AED 320 million ($87 million). The Sharjah Chamber of Commerce & Industry building is set to be the tallest in
  • UAE: CMS to take over existing power and water plant

    NEWS
  • UAE: CMS to take over existing power and water plant

    Abu Dhabi Water & Electricity Authority (ADWEA) was expected to announce in late January that agreement had been reached for the US' CMS Energy to take over the Taweelah A-1 co-generation station. The deal will mark a further milestone in the Abu Dhabi utility privatisation programme, being the first time an international developer has taken a stake in an existing power and desalination plant in the emirate.
  • UAE: Consultant shortlisted for third crossing

    NEWS
  • UAE: Consultant shortlisted for third crossing

    Abu Dhabi's Public Works Department (PWD) is understood to have shortlisted a joint venture of the UK's Rendel Palmer & Tritton and London-based architect Zaha Haddad for the consultancy contract on the third crossing in Abu Dhabi. Within the venture, Rendel Palmer will be responsible for the engineering work while Zaha Haddad will carry out the architectural design.
  • UAE: IN BRIEF

    NEWS
  • UAE: IN BRIEF

    France's Alcatel announced on 14 January the award of a FF 270 million ($47.5 million) contract from Emirates Telecommunications Corporation (Etisalat) to expand the local global standard for mobiles (GSM) network. Alcatel said that the contract calls for the supply and installation of its new mobile communications platform the Alcatel 1000 E10, as well as 600 base stations, of which more than 300 will be micro-stations. The order, which is designed to improve network coverage, is due to be c
  • UAE: IN BRIEF

    Dubai Municipality has awarded the phase two contract on the Dubai-Sharjah ring-road project to the local/UK joint venture UTCC Wade Adams. The venture was low bidder at AED 213 million ($58 million) when bids were returned in late September. The contract involves the construction of a 26-kilometre dual carriageway from Dubai-Al-Ain highway to Al-Hubab near Jebel Ali. The consultant is Italy's Italconsult (MEED 16:10:98).
  • UAE: NBAD headquarters goes for bid

    NEWS
  • UAE: Offset projects allowed in Dubai

    NEWS
  • UAE: Offset projects allowed in Dubai

    The UAE Offset Group (UOG) has confirmed that international defence contractors are now allowed to set up offset joint ventures in partnership with local businesses in Dubai and other northern emirates. Previously offset projects were restricted to Abu Dhabi emirate, which foots the defence budget of the UAE.
  • UK agency looks anew at old markets

    NEWS
  • Vickers, GIAT team up to chase tank orders

    A further consolidation in the European defence industry is on the cards, following the 12 January announcement that the UK's Vickers and France's GIAT Industries, two companies with significant orders in the Middle East, have signed a memorandum of understanding paving the way for closer co- operation. Under the terms of the outline agreement, the two companies will enter discussions with the aim of creating a joint venture company to supply land defence equipment. In the initial phase, the
  • YEMEN

    Medical units
  • YEMEN

    Heavy equipment
  • YEMEN

    Spate diversion works
  • YEMEN

    Weir
  • YEMEN

    Pump
  • YEMEN

    NEWS
  • YEMEN

    Irrigation units
  • YEMEN

    Computer and furniture
  • YEMEN

    Spate-breaker and re-charge weir
  • YEMEN

    Wire
  • YEMEN

    Building
  • YEMEN

    Bids are due to be submitted on 31 January for the expansion and upgrade of the Sanaa Asser 132/33-kV substation. Prospective bidders for the World Bank-financed project are Zurich-based ABB Asea Brown Boveri, Italy's Ansaldo Trasmissione & Distribuzione, France's Groupe Schneider, Germany's Siemens, and Hungary's Transelektro. The contract involves the supply and installation of a 132-kV eight-bay switchyard, transformers and associated work.
  • YEMEN

    NEWS
  • YEMEN Doubts cloud official version of Abyan killings

    NEWS
  • YEMEN Doubts cloud official version of Abyan killings

    Confusion continues to surround the events leading up to the killing of three UK nationals and an Australian from a group of 16 foreigners taken hostage in Abyan on 29 December. Some of the survivors of the ordeal have contested the Yemeni government's claims that government troops opened fire on the kidnappers only after they had begun killing their hostages. However, a subsequent statement from one of the Australian hostages backed the army's version that they did not begin shooting until t
  • YEMEN: Islamist link claimed to arrested Britons

    NEWS
  • YEMEN: Islamist link claimed to arrested Britons

    UK diplomats denied claims on 13 January that the Yemeni authorities had formally laid charges against five UK citizens arrested over suspected links to local Islamists. Three nationals, members of the so called Aden- Abyan Islamic army, have been charged with kidnapping and murder in the abduction of 16 Western tourists on 28-29 December.
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