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MEED
Jul 2009 Online Content

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  • Abu Dhabi aims to boost safety on dangerous road

    The government of Abu Dhabi has announced that it is launching an $11m programme to improve safety on the highway considered to be the most dangerous in the UAE. The 327km Al Mafraq - Al Ghowaifat highway is a vital road that links the UAE to Saudi Arabia, but it accounted for 14% of all road accidents in Abu Dhabi last year, the capital's Department of Transport said. The safety programme involves closing dangerous U-turns, installing speed humps and signage, and improving pedestrian crossin

  • Abu Dhabi assesses bids for integrated gas development

    Abu Dhabi Gas Industries Company (Gasco) and Abu Dhabi Gas Liquefaction Company (Adgas) are assessing bids for onshore work on their multibillion dollar integrated gas development (IGD).

  • Abu Dhabi awards gas deals worth $10bn

    Abu Dhabi has awarded five construction contracts worth more than $10bn on its major integrated gas development (IGD), more than a week after bids were submitted.

  • Abu Dhabi buys stake in Virgin's space venture

    Aabar Investments, an Abu Dhabi government-controlled investor, has announced plans to spend about $280m to buy a 32% stake in the holding company of Virgin Galactic, which plans to start commercial space flights, Bloomberg has reported. Aabar has also committed $100m and transaction costs to fund a small satellite launch capability, the company revealed today in a statement. The 'stake in Virgin Galactic will open a new avenue of opportunity for Abu Dhabi' in the space tourism business, Khad

  • Abu Dhabi Commercial Bank reports 51 per cent fall in profits

    Abu Dhabi Commercial Bank (ADCB) has reported a 51 per cent fall in second quarter profits, falling to AED302m ($82m) in the three months to the end of June.

  • Abu Dhabi commissions further studies on Shah gas pipeline

    The US' Fluor is to conduct further studies into the sulphur pipeline which forms a key part of Abu Dhabi's $10bn Shah gas development, according to sources close to the project.

  • Abu Dhabi contractor wins prison contract

    Abu Dhabi Judicial Department has awarded the local Ghantoot Gulf Contracting the AED189m ($51m) contract to build the prison at its new courthouse complex on Abu Dhabi Island.

  • Abu Dhabi delays onshore oil bids

    Abu Dhabi Company for Onshore Operations (Adco) has extended the deadline for a first round of bidding on its multibillion dollar '1.8 million project'.

  • Abu Dhabi Holding considers building fibre fabric plant

    Abu Dhabi Holding is studying the possibility of building a fibre fabrics plant at the new Abu Dhabi Polymers Park (ADPP).

  • Abu Dhabi inks training centre MoU

    Abu Dhabi Airports Co has signed a memorandum of understanding with the American Association of Airport Executives (AAAE) and the International Association of Airport Executives to enhance aviation and training services, including the establishment of a regional training centre in Abu Dhabi, for airport executives in the Gulf and wider Middle East. AAAE offers a wide range of products and services, including stand-alone, interactive computer-based training, web-based training, customized on-s

  • Abu Dhabi Investment Council receives bids for headquarters

    Abu Dhabi Investment Council (Adic) has received bids from at least five groups for a contract to build its new headquarters complex in Abu Dhabi.

  • Abu Dhabi invites bids to study light rail

    The Abu Dhabi Department of Transport has invited bids from consultancy companies to perform a study to build a light rail system in the capital. The light rail will be about 340 kilometers long and serve as part of the emirate's plan to develop a comprehensive passenger and freight transport system that would include roads, metro and light rail transit, the department said today in a statement.

  • Abu Dhabi issues over 705,000 traffic fines in H1 2009

    Police in Abu Dhabi issued more than 705,000 traffic fines in the first half of this year, more than three times the number that was issued in the same period last year, reported The National. A total of 705,377 traffic fines were issued, which is equal to one for every second person in the emirate, the paper noted. More than 60% of the fines issued were for speeding. The sharp rise in the number of fines was caused by the clampdown on dangerous driving that was initiated by the police, Col H

  • Abu Dhabi launches safety campaign

    Abu Dhabi Department of Transport (DoT) in association with Abu Dhabi Police has announced a Dhs40m short-term safety enhancement programme which aims to enhance traffic security and safety on the Al Mafraq-Al Ghowaifat road, the 327 km highway linking the UAE to Saudi Arabia. The project includes improving single balloon U-turns; closing dangerous U-turns between Al-Mafraq and Al Ghwaifat; installing directional and warning signs, road markings, solar power flashers at unlit U-turns, and spe

  • Abu Dhabi Mar buys Nobiskrug shipyard

    A UAE-based yacht builder says it has bought a controlling interest in the Nobiskrug Shipyard, in Rendsburg, Germany. With 100 million euros in turnover, the shipyard has been in existence since 1905 and has launched more than 700 vessels, Abu Dhabi MAR said in a statement. Abu Dhabi MAR, which was established two years ago, shares common ownership with the CMN Shipyard in Cherbourg, France, and currently has four yachts under construction.

  • Abu Dhabi orders more Z Portal Systems

    Abu Dhabi Customs Administration has placed a follow-on $8.6 million order with American Science and Engineering Inc., a US-based firm specializing in X-ray detection technology, for multiple Z Portal X-ray screening systems. The Z Portal systems will be used to scan vehicles at a strategic border checkpoint in Abu Dhabi, the company has said. The Z Portal system produces photo-like images with multi-view, drive-through screening for left, right, and top-down imaging of cars, vans, trucks, an

  • Abu Dhabi petrochemicals firm completes $5bn loan

    International Petroleum Investment Company (Ipic) has raised $5bn in syndicated loans after managing to secure offers of $6.4bn from lenders.

  • Abu Dhabi petroleum firm buys Nova Chemicals

    The Abu Dhabi state-owned International Petroleum Investment Company (Ipic) has completed its acquisition of Canadian petrochemicals producer Nova Chemicals for about $2bn, including the assumption of its debt.

  • Abu Dhabi receives bids for transport contract

    Abu Dhabi's Department of Transport has received bids for a project management consultancy contract covering the development of the city's transport networks, including the proposed Abu Dhabi metro.

  • Abu Dhabi sets Zayed University debt pricing

    The pricing of the debt on the $1bn Zayed University project in Abu Dhabi has been set, with margins starting at 290 basis points over the London interbank offered rate (Libor), rising to 395 basis points.

  • Abu Dhabi signs $10bn agreement for Shah gas scheme

    Abu Dhabi National Oil Company (Adnoc) and the US' Conoco Phillips have signed a final agreement to invest an estimated $10bn in the development of sour gas reserves at the Shah gas field in the south of the emirate.

  • Abu Dhabi tenders port infrastructure contracts

    Abu Dhabi Ports Company (ADPC) has invited firms to bid for three infrastructure contracts at its Khalifa Port & Industrial Zone development in Taweelah.

  • Abu Dhabi tenders tram study

    Abu Dhabi's Department of Transport has invited prequalified consulting firms to submit bids for an 18-month study into the emirate's proposed tram system.

  • Abu Dhabi unveils air-conditioned bus shelters

    Transportation officials in Abu Dhabi said today they plan to build 550 air-conditioned bus shelters across the emirate by 2011. The first 20 air-conditioned shelters in the capital were opened today, while 80 more are scheduled to be delivered by the end of September, the Abu Dhabi Department of Transport said.

  • Abu Dhabi unveils new parking rules

    Abu Dhabi's Department of Transport today unveiled details of its 'Public Parking Management Strategy'. The measures, which will be phased from Q4 this year, include increasing the number of parking spaces in key areas, enforcing time limits, and introducing paid parking, residents' parking schemes, and park-and-ride options in identified 'hot-spots'. The DoT also announced tariffs for the first time - with a charge for premium parking on main streets set at Dhs3 per hour and an Dhs2 per hour

  • Actis buys stake in Commercial International Bank

    London-based private equity firm Actis will pay $244m for a 9.3 per cent stake in Commercial International Bank, Egypt's largest private sector bank.

  • Acwa Power completes Rabigh plant financing

    Saudi Arabia's Acwa Power has completed financing for the $2.5bn Rabigh independent power project (IPP) and made the first drawdown of the facility.

  • Adco delays bids for oil production contract

    Abu Dhabi Company for Onshore Operations (Adco) has delayed its deadline for technical bids to oversee an increase its oil production to 1.8 million barrels a day, until 28 July.

  • Adnoc completes technical assessments for oil and gas tank farm

    Abu Dhabi National Oil Company (Adnoc) subsidiary Adnoc for Distribution (Adnoc Fod) has finished assessing technical proposals for a contract to build a $150m tank farm for oil and gas products.

  • Adnoc holds talks over injection system for Habshan field

    Abu Dhabi National Oil Company (Adnoc) is holding talks with international engineering firms to design a nitrogen injection system for the onshore Habshan oil field.

  • Aecom wins project management deal for Knowledge Economic City

    US-based consultant Aecom has been appointed as the project manager for the $8bn Knowledge Economic City at Medina in Saudi Arabia

  • Agency downgrades Jebel Ali Free Zone rating

    Ratings agency Moody's Investors Service has downgraded a AED7.5bn ($2bn) sukuk raised by Jebel Ali Free Zone (JAFZ) from A1 to A2, as a result of "financial challenges" at parent company Dubai World.

  • Agility awarded option year on US Army contract

    Agility Defense & Government Services (DGS) has announced that the US Army has awarded a one-year option on the Army's Heavy Lift VI contract. The value of this one-year extension is estimated to be up to $91m. Under the extension, Agility will continue to provide transportation services for military personnel, supplies, and equipment.

  • Agility inks $21m deal

    Kuwaiti logistics firm Agility has signed a $21m agreement to provide freight services for a project development by Lihir Gold Limited in Papua New Guinea (PNG), Reuters has reported. The project at the Lihir Gold Mine in Papua New Guinea is expected to conclude within two years, with a cost of $700m, Agility has said.

  • Agility seeks Iraq contracts

    Tarek Sultan, Chairman and managing director of Agility, the Middle East's largest storage and logistics company, said the company is seeking oil and gas opportunities in Iraq as part of its expansion in emerging markets. 'There are a lot of companies looking to do business in Iraq, but don't know how and need logistical support,' he told Bloomberg. 'Oil and gas customers are looking to partner with companies that know how to do business in Iraq.'

  • Air Arabia appoints chief executive for Moroccan business

    Air Arabia has announced the appointment of Jason Bitter as chief executive officer for its new Moroccan operation, which launched in May.

  • Air Arabia doubles service to Istanbul

    UAE-based low-cost carrier Air Arabia has announced that it has doubled the frequency of non-stop service between the airline's main hub in Sharjah, UAE, and the Turkish city of Istanbul. Air Arabia now flies to Istanbul four times per week, with flights on Tuesdays, Wednesdays, Fridays and Sundays.

  • Air Arabia launches ticket, visa offer

    Air Arabia, Sharjah's budget carrier, has announced the launch of a special summer promotion, which offers roundtrip tickets to Sharjah, from any of the 46 destinations the airline currently serves, along with a one-month UAE tourist visa for just Dhs975, inclusive of surcharges and exclusive of airport taxes. The offer is valid for travel to Sharjah between June 15 and July 31 and return travel from Sharjah between July 16 and September 10, the airline has said.

  • Airline IT spend to drop to 1.7%

    According to the 2009 Airline IT Trends Survey, co-sponsored by SITA, IT and telecommunications operating spend as a percentage of airline revenue, is forecast to be 1.7%, the lowest level recorded since 2002, as airlines seek to reduce costs against a backdrop of $10.4bn in losses last year and an IATA forecast of $9bn in losses this year. A total of 72% of survey respondents intend to renegotiate IT supplier contracts and 70% will invest in solutions that lower overall enterprise costs. The

  • Ajman Free Zone, Ajman Bank ink deal

    Ajman Bank has signed a Dhs54m financial agreement with Ajman Free Zone to assist the latter in its multi-million Dirham development plan at the free zone, including the expansion of the Al-Jurf Industrial Area and the completion of Phase 3 of the storage facilities. The agreement is the second to be signed between the Ajman Bank and the Ajman Free Zone Authority within the past few months. Investment at the Ajman Free Zone Authority has now exceeded Dhs1bn.

  • Al Abdullatif gets $24.3m loan to expand production

    Al Abdullatif Industrial Investment, a Saudi Arabian carpet maker, has announced that it will borrow 91 million riyals ($24.3m) from the Saudi Industrial Development Fund to boost production. The loan agreement includes 30 million riyals for Riyadh-based Al Abdullatif and 61 million riyals for its Eastern Textile Co. unit.

  • Al Ain transport plan unveiled

    Abu Dhabi's Department of Transport has announced its masterplan for public bus transport in Al Ain, at the newly opened city centre bus station. Eight local Al Ain bus routes will be operational by the end of the year, with a further nine routes planned for launch in 2010, bringing the total to 17. By the end of 2009, 100 buses will be serving the Al Ain, with this number rising to 134 in 2010. In total, 350 buses will be operational by Q4 2011.

  • Al Maabar plans six hotels in Jordan

    Al Maabar Jordan has invited six international hotel operators to bid for a five-star 190-room hotel in the Jordanian capital, Amman, Al-Ghad Arabic daily has reported. Work on the project is expected to commence before Q1 2010.

  • Alafco delivers nine planes

    Kuwait's Aviation Lease and Finance (Alafco), has said that it has delivered nine out of 20 new aircraft to its customers during the first half of 2009. Two A320-200 aircraft were delivered to Wataniya Airways; two A320-200 aircraft were delivered to Indian low cost carrier Go Airlines; three A320-200 aircraft were delivered to Kuwait-based AREF Investment Group and two B737-900ER aircraft were delivered to Turkish operator Sky Airlines. The firm is now prepared to take delivery of eleven new

  • Aldar awards Al-Falah housing contracts

    Abu Dhabi-based Aldar Properties has awarded three major construction contracts on its Al-Falah villas project.

  • Algeria oil terms little changed

    The contractual terms being offered to international oil companies (IOCs) participating in Algeria’s most recent bid round for oil and gas exploration and production permits are little changed from a disastrous auction at the end of 2008.

  • Al-Habtoor Leighton wins Khalifa port work

    Abu Dhabi Ports Company (ADPC) has awarded a AED1.4bn ($381m) infrastructure contract at Khalifa Port and Industrial Zone (KPIZ) to the local/Australian Al-Habtoor Leighton Group.

  • Al-Hassan Engineering wins Omani power plant deal

    The local Al-Hassan Engineering Company has won a contract to build the Amal power plant in Oman.

  • Al-Kharafi starts work on Kiwan hotel in Damascus

    Mohammed Abdulmohsin al-Kharafi & Sons General Trading & Contracting has started work on the $217m Kiwan hotel complex in downtown Damascus.

  • Almarai eyes acquisitions in Egypt

    Hatem Saleh, the head of the dairy division at the Egyptian Union of Industries, has said that Almarai Co., Saudi Arabia's biggest listed dairy firm, is considering more acquisition opportunities in Egypt after spending $115m last month to buy an Egyptian company, Al Madina newspaper has reported. Almarai is 'preparing the conclusion of new expansion agreements in Egypt' and is seriously studying expansion in dairy production mainly in addition to juices and baked products, he said.

  • Almarai plans new plants

    Almarai Co, the Gulf's largest diary company by market value, has said it will begin production on a $173.3m infant formula plant and a $53.3m baked goods factory before the end of next year. The formula factory, which is expected to generate revenues of between $50m and $70m, will begin production toward the end of the last quarter of 2010, the company said.

  • Almarai posts Q2 profit rise

    Saudi Arabia's largest food producer by market value, Almarai Co. has reported a rise of 22% in its Q2 profit as sales climbed by 16% to SR1.45bn. The food producer's net income increased to SR287m, from SR235.2m a year earlier. Operating profit for the three-month period ending June 30 climbed 23% to SR335.4m.

  • Almarai to take over Hadco

    Saudi-based Almarai Co. has acquired Hail Agricultural Development Company (Hadco) for $253.2m, giving the latter's shareholders one new Almarai share and SR2.5 for five Hadco shares, in its bid to gain entry into the Saudi poultry business. Hadco has said its board would recommend to shareholders acceptance of the bid. The two firms have fixed a November 30 deadline for conclusion of the acquisition.

  • Al-Rajhi starts work on railway between Mecca and Medina

    The Al-Rajhi Alliance has broken ground on phase one of the Haramain high-speed railway between Mecca and Medina.

  • Amerada Hess launches Libya seismic work

    US oil company Amerada Hess has invited companies to prequalify for seismic data processing work on its acreage in Libya.

  • Apic and Tebodin to create Saudi engineering firm

    Saudi Arabia's Apic has signed a joint venture deal with Holland's Tebodin Consultants & Engineers to create a new consultancy and engineering company based in Jeddah.

  • Aqaba corporation reveals details of port bids

    The Aqaba Development Corporation has revealed full details of the two consortiums bidding to build a new $700m port at Jordan's maritime hub on the Red Sea.

  • Arab Banking Corporation reports $22m second quarter profit

    Bahrain's Arab Banking Corporation (ABC) has reported second quarter profits of $22m, a significant turnaround from the same period last year when it made a loss of $658m.

  • Aramco awards contract for Shaybah gas plant to Sofcon

    Saudi Aramco has awarded a pre-front-end engineering and design (Feed) study to the US/local Sofcon for the first phase of a programme to develop gas supplies from the Shaybah field in the Rub al-Khali (Empty Quarter).

  • Aramco awards Jubail refinery deal to Petro Steel

    Saudi Aramco has awarded a $745m engineering, procurement and construction (EPC) deal to the local/Singapore joint venture Petro Steel to build a tank farm for its 400,000 barrel-a-day (b/d) Jubail refinery on the kingdom's Gulf coast.

  • Aramco delays bids for Shedgum gas work

    Saudi Aramco has delayed the deadline for companies to bid for a $40m contract to upgrade the acid gas piping system at its Shedgum gas processing plant, 135 kilometres southwest of Dhahran in the Eastern Province.

  • Aramco holds meeting with contractors over Yanbu refinery

    Saudi Aramco held a meeting with contractors on its 400,000-barrel-a-day (b/d) Yanbu export refinery on 14 July, following the launch of the main construction packages in June.

  • Aramex extends foreign ownership

    Aramex has announced that foreign investors, including all those who are not nationals of the UAE or the GCC states, may own up to 49% of the company's share capital as of July 1, 2009. This follows ratification by the UAE Ministry of Economy of a resolution approved at a recent Aramex Extraordinary General Meeting, stating that share ownership by GCC and UAE nationals should be treated at par and should not be less than 51% at any time.

  • Aramex Q2 profit climbs 30%

    Aramex has recorded a 30% rise in its Q2 2009 profit at Dhs50m, compared to Dhs38.4m for the corresponding period in 2008. Revenues for the second quarter this year had dropped 10% to Dhs485m, from the Dhs539.3m recorded during the same period in 2008. The company's net profit for the first half of 2009 stood at Dhs93.1m, a growth of 25% over Dhs74.6m achieved in the first six months of 2008.

  • Armani hotel launch delayed

    Viviana Giussani, a spokeswoman for Armani fashion house in Italy, has said that the Dubai Armani Hotel 'is not opening in September but later, anyway by the end of 2009,' The National has reported. The Armani Hotel Dubai opening 'has simply been moved to a new date but this decision has nothing to do with delays or any kind of problem,' she said. The hotel, which occupies the levels between the concourse and the eighth floor, and levels 38 and 39 of the world's tallest tower, is a joint proj

  • Ashapura ends Oman mining

    India's mining firm, Ashapura Minechem Ltd has said that its UAE unit has ended its joint venture in Oman, Ashapura Zawawi Minerals LLC, and divested its entire stake in the company, Reuters has reported. Ashapura did not give a reason for ending its association in the joint venture with Alawi Enterprises LLC.

  • Ashghal awards contracts for Doha road work

    Qatar's Public Works Authority (Ashghal) has awarded the local QBS International a QR178m ($48m) contract to develop roads in the North Khalifa and Markhiya road areas of Doha.

  • Australian hotel partners with Etihad

    Etihad Guest has listed new hotel partner, inking agreement with Australian-based hotel group, Rendezvous Hotels and Resorts International (RHI). Etihad Guest members will earn 500 miles per qualifying stay at Rendezvous Hotels. Rendezvous Hotels operate in Perth, Adelaide, Melbourne, Canberra, Sydney, Brisbane, Port Douglas, Singapore, Shanghai and Auckland. New Rendezvous hotels will open in Christchurch and Kuala Lumpur in October 2009 and March 2010.

  • Austrian firm to upgrade Algerian pipeline meters

    Austria's ILF has won a contract to oversee a revamp of the systems that Algeria uses to monitor its network of oil and gas pipelines.

  • BA to increase capacity on Jeddah route

    British Airways has announced plans to increase capacity and introduce first class on its London-Jeddah route this winter. Running from October 31st 2009 - March 29th 2010, the airline's winter schedule will see a Boeing 777 operate the five weekly Jeddah flights, providing a 50% increase in premium seats, which the carrier says have been in high demand on this route. BA relaunched flights to both Riyadh and Jeddah in Saudi Arabia in June, and already serves Riyadh with four-class Boeing 777

  • Baghdad approves Abu Ghraib housing project

    The governorate of Baghdad has approved the construction of a new residential compound in the Abu Ghraib area of the province.

  • Baghdad to receive $100m World Bank loan

    Baghdad will receive $100m from the World Bank to spend on utilities projects in the Iraqi capital.

  • Bahrain Airshow contract awarded

    Bahrain's Civil Aviation Affairs and Farnborough International Ltd, joint organisers for the inaugural biennial Bahrain International Airshow in 2010 have awarded a £17m contract to Arena Group and Lea International for the total construction of the buildings and interiors for the Bahrain International Airshow, according to a press statement. Arena Group and Lea International have created a new partnership, ArenaLea to realise the project in just six months. The contract covers the 2010, 2012

  • Bahrain inflation falls to 2.7 per cent

    Inflation in Bahrain has fallen to 2.7 per cent in June, the lowest level for almost two years, having decreased from 3.5 per cent in the previous month.

  • Bahrain raises $2bn capital for Addur power project

    The $2.1bn capital raising for the Addur power plant in Bahrain has attracted a number of lenders not usually active in the Middle East project sector.

  • Bahrain receives bids for housing contracts

    The Housing Ministry has received bids from local contractors for two construction contracts in the Madinat Hamad area of Northern Bahrain.

  • Bahraini bank forecasts lower profits for polypropylene firms

    Bahraini investment bank Sico says it expects profits for polypropylene producers to fall in the third quarter of 2009 because of new production capacities coming on stream in Saudi Arabia.

  • Bahraini investors buy stakes in Addur power project

    The sponsors of Bahrain's $2.1bn Addur power project have sold a 40 per cent stake in the scheme to a group of Bahraini-based investors.

  • Banks receive invitations to fund Jubail refinery

    Banks have begun to receive invitations to commit financing to the $9.6bn Jubail Refinery, with documentation indicating that the project will require debt financing of over $6bn.

  • Banque Saudi Fransi profits fall 11 per cent

    Banque Saudi Fransi reported a fall in second-quarter profits of 10.6 per cent, to SR692m ($184.5m) from SR774m in the same period in 2008.

  • Bauer wins Louvre Abu Dhabi work

    Abu Dhabi's Tourism Development & Investment Corporation has selected Germany's Bauer to carry out work on its Louvre Abu Dhabi project on Saadiyat island.

  • BDL to restructure Dubai office

    Middle East IT distributor BDL has said that it is restructuring its Dubai office, ahead of planned regional expansion. Tamer Ismail has been named as the CEO of BDL Gulf, in addition to his post as CEO of BDL Egypt and Saudi Arabia. The group expects a 20% rise in sales in 2009, to $340m.

  • Beijing approves $3bn Sabic joint venture

    Chinese regulator National Development & Reform Commission has given Saudi Basic Industries Corporation (Sabic) approval to jointly develop a $3bn petrochemicals complex at Tianjin, northeast China.

  • Bids in for Darsait wastewater contracts

    A total of 11 companies have bid for a consultancy services contract for the planned Darsait wastewater treatment plant in Oman.

  • Bids in for Jordanian nuclear research reactor

    Four companies have submitted bids to build a nuclear research reactor in Jordan.

  • Borouge awards $1bn Ruwais expansion deals

    Abu Dhabi Polymers Company (Borouge) has awarded construction and design contracts at its Ruwais site worth more than $1bn.

  • Borouge inks $1bn expansion deal

    Plastics solutions company Borouge has awarded gase and engineering company The Linde Group, a contract worth $1.075bn to build another 1.5 million tonnes per year ethane cracker at its production site in Ruwais, Abu Dhabi. The company is also expanding its polypropylene and polyethylene units, a low density polyethylene unit and a Butene unit, as well as related off-site utilities and marine facilities.

  • Borouge signs Indian co-operation agreement

    Abu Dhabi Polymers Company (Borouge) has set up a co-operation agreement with Indian automotive plastics supplier Machino Polymers, with the aim of entering the lucrative market in the subcontinent.

  • British Airways to launch two new routes

    British Airways has said it will launch new thrice-weekly direct services from Gatwick to both Sharm El Sheikh in Egypt and Male in the Maldives from October 25. This will mark a return for the airline's trademark flag in the Red Sea resort. The routes will be operated by Boeing 777 aircraft with a three-class configuration, World Traveller, World Traveller Plus and Club World.

  • Cairo doubles export tax on rice

    Egyptian Trade & Industry Minister Rachid Rachid has issued a decree doubling the export duty on rice.

  • Cairo ends sugar import duty

    Egypt’s Trade & Industry Ministry has removed the custom duty on sugar imports, according to a ministry announced issued on 29 July.

  • CampbellGray to open in Lebanon

    UK-based CampbellGray Hotels is set to open its first property in the Middle East, the Le Gray, in the Lebanese capital, Beirut. The new luxury hotel includes 75 suites. Le Gray is located in the Solidere district of Beirut's downtown. CampbellGray Hotels also has plans to expand in Muscat and Damascus.

  • Cathay Pacific to launch Jeddah service

    Cathay Pacific Airways has announced that it will launch a new service to Jeddah, Saudi Arabia, from October 25, 2009. The new four-times-weekly service will operate through Dubai on the way to and from Hong Kong, the airline has said. The new Jeddah service will be operated using an Airbus A330-300 aircraft in a two-class configuration. The carrier has also said it also plans to increase the number of flights per week to and from Riyadh from five times a week to daily from August 1, 2009.

  • CCL inks deal with Pacman Group

    Dubai-based Pacman Group has signed a licensing deal with CCL Industries Inc., Canada-based maker of specialty packaging for the consumer products and healthcare industries, to expand the Canadian company's label sales to the Middle East and Africa. Under the agreement, which will come into effect August 1, Pacman Group is granted exclusive rights to manufacture CCL labels in the Middle East and Africa, outside of South Africa. The company will change its corporate identity to Pacman-CCL as p

  • Cellcrypt launches in Dubai

    US based voice solutions Cellcrypt announced that it has opened a new office in Dubai to support the increasing demand it is seeing for its secure voice solutions from the Middle East. The company provides end-to-end solutions for encrypted voice calling between standard smartphones to prevent private conversations within corporations or governments from being compromised, without the need for specialized devices, including mobile-to-landline calls. Cellcrypt uses internet technology to provi

  • Cement sales climb in Saudi

    The annual growth in cement sales by Saudi firms rose to 4.7% in June, more than twice its level in May, according to a new report by Saudi Arabia-based NCB Capital. In the five months to May 2009, cement sales had climbed 1.96% from the same period a year earlier, the report said.

  • Centamin hikes Sukari gold resource estimates

    Egyptian gold producer, Centamin has upgraded its gold resource estimates at its flagship Sukari project in Egypt by about 520,000 ounces, or 6%, from its February estimate to 9.91 million on a measured and indicated basis. The company said the Sukari project contains about 3.3 million ounces of inferred resources, adding that drilling indicates that mineralization continues further north of the existing reserve, with continuous high grades in the deeper zones.

  • Centamin to raise $25m in share placement

    Egyptian gold producer Centamin Egypt has said that it will raise a total of $25.5m from a private placement of 19 million shares, which will be placed with three large North American resource focused funds. Centamin plans to use the net proceeds for continued exploration activities and general corporate purposes.

  • Chinese firm completes Skikda refinery

    Chinese state energy firm China National Petroleum Corporation (CNPC) has completed building a $385m condensate refinery at Skikda in northeast Algeria, according to a company statement issued on 28 July.

  • Cisco Capital launches captive financing arm In Dubai

    Cisco today announced the launch of Cisco CapitalSM, an arranger of financing solutions licensed by the Dubai Financial Services Authority and based in the Dubai International Financial Centre (DIFC) to arrange financing to enable corporate customers to acquire the latest Cisco technology. Cisco Capital will help companies build out their information technology infrastructure by accelerating their deployment of Cisco products and services. Cisco is the first global IT company to open a financ

  • Cisco launches Media Hub

    Cisco has launched the Linksys by Cisco Media Hub (NMH300), which is designed to simplify access to and interaction with digital content. The company says the Media Hub gathers, organizes, and presents all the digital video, photos and music that users have spread amongst various devices in the home. The Media Hub allows users to enjoy all of their media through an easy to use interface that is not only accessible in the home, but throughout the world via a web browser, the company added.

  • Cisco signs deal with Bahrain

    Networking giant Cisco Systems has signed an agreement with the Government of Bahrain to offer advisory and technical services to all ministries and governments agencies in Bahrain. Cisco's local partners, Al Moayyed International Group and Gulf Business Machines, authorised technology provider of Cisco's TelePresence solutions, will work on the project by organizing a series of advanced training courses for all government employees on Cisco technologies and solutions.

  • Commercial Bank of Qatar reports fall in profits

    Commercial Bank of Qatar reported a 45 per cent fall in second-quarter profits, with profits of QR333m ($91.5m) for the three months to the end of June, compared to QR602m in the same period during 2008.

  • Contractors prepare to bid for Dubai Police college

    Dubai Police has invited selected companies to bid by 27 July for an estimated AED1bn ($272m) contract to build a police training college.

  • Contractors prequalify for Kuwait University

    Kuwait has prequalified contractors for the contract to build a KD1bn ($3.47bn) campus for Kuwait University at Shaddadiyah.

  • Contractors submit bids for Bab al-Qasr hotel work

    Contractors have submitted their bids for the main construction contract for the Bab al-Qasr hotel in Abu Dhabi.

  • Contractors to bid on Kuwait International airport job

    Contractors are preparing to bid on 2 August for a major infrastructure contract at Kuwait International airport.

  • Cotton factory to begin production in Iraq

    A new ID4.7bn ($4m) cotton production factory has started experimental operation in Iraq's Wassit province at a total capacity of 150 tonnes per day, Aswat al-Iraq news agency has reported. The Wassit Company for Fabric Production is part of the Iraqi Industry Ministry's investment plan.

  • CPC inaugurates plant in Syria

    Saudi-baed Construction Products Holding Company (CPC) has inaugurated its industrial complex in Adra, Syria. The $110m industrial complex which spreads over 515,000 m² is intended to supply the Syrian market with various construction products. The facility is set to be fully operational by end of this year.

  • Crashed Yemenia plane had sparked EU probe

    The Airbus plane that crashed off the Indian Ocean archipelago of Comoros was the same aircraft that sparked an EU inquiry two years ago into Yemenia airline's safety record, Reuters has reported, citing an unnamed EU Commission official. 'The concern was (about) incomplete reporting procedure and incomplete follow-up,' he told the news service. Meanwhile, EU Transport Commissioner Antonio Tajani said Yemenia had passed the necessary checks to avoid a ban on operating in the 27-nation bloc, b

  • Crescent Petroleum seeks arbitration over Iran gas deadlock

    The UAE's Crescent Petroleum has escalated its ongoing dispute with the National Iranian Oil Company (NIOC) by starting arbitration proceedings over delays in completing the gas supply deal.

  • Dammam 7 moves ahead with Jubail petrochemicals complex

    Saudi Arabia's Dammam 7 Petrochemicals has secured propylene supplies for its planned acrylic acid and acrylates petrochemical complex at Jubail, and hopes to begin construction soon.

  • Dana Gas starts production at Sondos field

    The UAE's Dana Gas has started production from its Sondos field in the West El-Manzala concession in Egypt, with output averaging 12 million cubic feet a day (cf/d) of gas.

  • Dar al-Dhabi issues tenders for Reem island towers

    Kuwait-based Dar al-Dhabi Real Estate Company has invited firms to bid by 16 August for the main building works contract on its mixed-use development at the Najmat Abu Dhabi project on Reem island.

  • Dell appoints Aptec as distributor in Egypt

    Dell said it recently appointed Aptec Distribution, part of Aptec Holdings, as an official distributor in Egypt extending the company's existing agreement beyond the UAE and Gulf region. Aptec now offers Dell's commercial line of products, including PowerEdge servers, Dell/EMC and EqualLogic storage solutions, Latitude laptops, Dell Precision workstations and OptiPlex desktops, to resellers in Egypt. The new agreement strengthens Dell's channel strategy in emerging countries, collaborating wi

  • Demand for Opec oil drops 8 per cent

    The international oil cartel Opec expects demand for crude oil produced by its member states to fall by 2.3 million barrels a day (b/d) in 2009.

  • Demand for premium airline seats falls in May

    Middle East airlines struggled to sell seats in first and business class cabins during May, with demand falling by 7.6 per cent year-on-year.

  • Descon wins $100m air separation deal in Emirates

    Pakistan's Descon Engineering has won a $100m contract to build an air separation unit at German/UAE joint venture Elixier's new nitrogen plant at Mirfa in Abu Dhabi.

  • Dhabi wins Wadi Walk deal at Dubailand

    The local I&M Galadari Group has awarded a deal to the local Dhabi Contracting to build the first phase of the Wadi Walk district at its City of Arabia development in Dubailand. The contract is worth an estimated AED500m ($136m).

  • Dolphin bond priced at 337.5 basis points

    Abu Dhabi's Dolphin Energy has completed the final part of a $3.5bn refinancing with a $1.25bn bond issue, priced at 337.5 basis points above US treasuries.

  • Dolphin Energy awards gas construction deal to Descon

    Abu Dhabi's Dolphin Energy has awarded a three-year contract to Pakistan's Descon Engineering covering minor modification work on Dolphin's onshore gas processing plant in Qatar.

  • Dolphin Energy completes refinancing

    Dolphin Energy closed the $3.5bn refinancing of its debt on 24 July.

  • Dolphin Energy set to complete $3.5bn bond refinancing

    Dolphin Energy expects to complete its $3.5bn refinancing once a roadshow for a bond issue of up to $1bn finishes on 23 July.

  • Doosan supplies generators to Iranian power plants

    South Korea's Doosan Heavy Industries & Construction has signed a $96m contract to supply heat-recovery steam generators to four power plants in Iran.

  • DP World inks new lease with Port Botany

    Marine port operator DP World has signed a new 15-year operating lease extension with Port Botany in Sydney, Australia. The new lease is aimed at improving overall port efficiency, and includes specific incentives to improve truck servicing and rail performance in New South Wales.

  • DP World set to finalise Senegal port financing

    Dubai's DP World is expecting to complete a Eu100m ($138.9m) financing by the end of July to help fund the expansion of Dakar port in Senegal.

  • DP World signs 15-year lease with Port Botany

    Global marine terminal operator DP World has signed a new 15-year operating lease extension at Port Botany in Sydney, Australia. The lease agreement is the third significant DP World contract in Australia this year, following the recent 40-year lease renewal at DP World Brisbane and a new 30-year operating lease at Adelaide. The new lease is expected to improve overall port efficiency, and includes specific incentives to improve truck servicing and rail performance, and is expected to signifi

  • DP World to open new terminal in Vietnam

    Dubai-based marine terminal operator DP World has announced October 1, 2009 as the date of the official inauguration of its Vietnam's Saigon Premier Container Terminal (SPCT), located on the Soai Rap River 15 kilometres from Ho Chi Minh City. While Ho Chi Minh City is currently served by various port facilities along the Dong Nai and Saigon rivers, several terminals on the Saigon River are slated for progressive closure over the next several years. Proximate to Ho Chi Minh City's industrial h

  • Drydocks renews BP shipping deal

    Drydocks World Dubai (DWD), the ship repair, conversion and new building yard of Drydocks World, has announced the renewal of its association with BP Shipping with the signing of a new alliance agreement. According to the agreement, a joint team will monitor all repair projects from the outset, even prior to the vessel's arrival in Dubai, until the work is complete and the ship leaves the yard.

  • DTCM offers hospitality course for UAE nationals

    The Dubai Department of Tourism and Commerce Marketing (DTCM), in association with Educational Institute of American Hotel and Lodging Association, and the Training Solutions of DTCM, has announced a new summer training course offering UAE national students a hands-on learning about the different aspects of hotel operations. The 'Introduction to Hospitality Today' training course will be launched during the second week of July, and will be held twice a week over a period of three weeks. Stude

  • Dubai Airport June passenger traffic up 10.3%

    Dubai Airports said today passenger traffic rose 10.3% in June from a year ago to 3.36 million. In the six months to June, passenger traffic rose 5% to 19.5 million. Cargo traffic in June fell 2.3% from the previous year to 152,278 tonnes and by 0.8 percent in January-June to 874,828 tonnes, Dubai Airports said in a statement.

  • Dubai developer plans to build sports city in Tunis

    Dubai-based Sports Cities International (SCI) plans to build a $5bn project called Tunis Sports City in the northern suburbs of the capital.

  • Dubai diamond boiling facility opened

    Dubai Diamond Exchange (DDE) has announced that Diamond Boiling Facility DMCC has set up a state-of-the-art boiling facility in the Almas Tower. According to DDE the new facility has created a new diamond trading centre in the region. Boiling is a process used to remove dirt and trace materials from rough and polished diamonds, allowing diamonds to reach their highest potential value.

  • Dubai establishes financial support fund

    The government of Dubai has established the Dubai Financial Support Fund, a legal entity that will be responsible for the distribution of the proceeds from Dubai's $20bn bond programme.

  • Dubai festival boosts tourism figures

    Dubai Naturalization and Residency Department (DNRD) has said that the number of visitor from Gulf countries has seen a 36.5% increase during the first half of Dubai Summer Surprise. 'Omani nationals are by far the largest in number, followed by Kuwaitis, Saudis, Bahrainis and Qataris. But by the early days of July the number of Saudis has increased to a large extent,' the DNRD has said.

  • Dubai Hiltons launch summer offers

    Hilton Dubai Jumeirah and Hilton Dubai Creek, have announced the launch of their first summer campaign, promoting their value packages and offers, focusing on GCC leisure travellers. The summer campaign is a combination of competitive rates for the Hilton Creek and Hilton Jumeirah, with additional benefits of a flat 20% discount across all restaurants, spas and leisure activities. The campaign also includes the 'Kids Holiday for Free' programme, where children up to the age of 16 can stay for

  • Dubai hotels take hardest hit in region in H1, says survey

    A new study by STR Global has revealed that Dubai hotels saw the biggest falls in revenue in the region in the first half of 2009. Occupancy rates in Dubai fell 12.9% compared to the year-earlier period, and RevPAR plunged 35%. However, Abu Dhabi was a positive performer, with a RevPAR growth of 3.2% in the period.

  • Dubai issues tenders for airport engineering work

    Dubai's Department of Civil Aviation has invited selected contractors to bid by 15 July for a civil engineering contract on its Concourse 3 project at Dubai International airport.

  • Dubai metro to boost tourism

    Dubai officials hope that the new Metro that will open in September will provide a tourism boost for the emirate. Sheikh Maktoum bin Mohammed, Deputy Ruler of Dubai, said the metro 'would be one of the major flagship civilisational and tourist landmarks in the country' and forecast that it would give a shot in the arm to the local tourism industry by attracting more tourists.

  • Dubai taxis to remind passengers

    The Dubai Taxi Agency of the Dubai Roads and Transport Authority (RTA) has introduced a new electronic announcement system in the taxis to remind passengers not to forget their luggage at the time of getting off the cabs, the Gulf News has reported. So far about 1,060 taxis have been equipped with the new system while it is being installed in rest of the fleet of a total 3,503 vehicles. It is only available on Dubai Taxis.

  • Dubai Terminal 3 to have visitor bureau

    Dubai's Department of Tourism and Commerce Marketing (DTCM) has announced the opening of its Visitors' Information Bureau (VIB) at the Terminal 3 of Dubai International Airport to provide assistance to visitors in exploring the emirate during their business tours and leisure holidays. The VIBs offer complete information about the emirate and its tourist attractions and facilities to visitors, as well as providing information about hotels and hotel apartments.

  • Dubai to host aquatics championship

    Beating off competition from Hamburg and Moscow, Dubai has won the bid to host the 2013 world aquatics championships, Reuters has reported. The championships feature swimming, open water swimming, synchronized swimming, water polo and diving.

  • Dubai to install hidden speed cameras

    Dubai police plan to use hidden speed radars under a new initiative to catch 'arrogant' motorists, reported Khaleej Times. The cameras will soon hang from trees, electrical poles or even bridges, capturing speeding drivers, without the flash of a camera bulb to alert drivers they have been caught. Fifteen of the radars, which can detect and shoot speeding cars from 150 metres away, are being tested before being rolled out from July 15, said Brigadier Mohammed Saif Al Zafin, director of Genera

  • Dubai to open world's largest single cut and bend rebar plant

    Dubai is set to commission the world's largest single cut and bend facility for steel rebars costing Dhs350m at Techno Park in Jebel Ali this month, Khaleej Times has reported. The 1.2 million square feet plant, a development by G2 International, a member of Geap International Group, has been under construction since January 2008 and will produce a monthly 60,000 metric tons of rebars cut and bend of international standard.

  • Dubai World to open QE2 as 'South African hotel'

    South Africa's Tourism Ministry has said that Dubai World plans to berth the Queen Elizabeth II ocean liner at the V&A Waterfront in Cape Town and convert it into a luxury hotel, South African daily Business Day has reported. The company is applying for berthing rights from the National Port Authority, and the Department of Tourism is weighing up the desirability of the plans, the newspaper has said. A local hotel group, which has declined to be named 'as talks are at a sensitive stage', is e

  • DubaiSat satellite launch delayed

    Emirates Institution for Advanced Science and Technology (EIAST) has announced that the clustered launch of a satellite group including DubaiSat-1, which was scheduled for July 25, has been postponed by the launching company, International Space Company (Cosmotras), to July 29, 2009, Wam has reported. The postponement was to further undertake more safety and security tests, Cosmotras has said.

  • Dubaisat-1 successfully launched

    The UAE's first government satellite was successfully launched into orbit from the Baikonur Cosmodrome in Kazakhstan last night. Dubaisat-1 will orbit 680km above Earth and is expected to beam back its first images in a matter of days. The satellite was developed by a South Korean firm with the cooperation of 16 UAE engineers from the Emirates Institute of Advanced Science and Technology.

  • 'Dusit Princess' to open in Dubai

    Bangkok-based Dusit International has announced it is planning for a soft opening of its Dusit Princess City Centre Dubai, the first Dusit Princess hotel outside of Thailand. The management contract was signed with Dubai-based Sharaf Group in December 2008 and construction work is now nearing completion. Five minutes walk from Deira City Centre shopping mall the four-star property features 120 rooms and suites, meeting rooms, and an all day dining restaurant.

  • EADS wish to sell Airbus planes to Iraq

    The European Aerospace and Defence group (EADS) aims to sell Airbus planes to Iraqi Airways and break the monopoly currently enjoyed by Boeing with the airline, chief executive Louis Gallois has said, according to Al Watan. 'They have an airline that has only Boeing planes. For me that is a provocation,' Gallois has said jokingly. Gallois was in Baghdad on a visit with French Prime Minister Francois Fillon.

  • Egypt boosts gas and oil reserves

    Egypt has boosted its proven natural gas reserves figure to 77.2 trillion cubic feet (tcf) on 30 June 2009, an increase of 1.2 trillion tcf on the figure from a year earlier.

  • Egypt delays deadline for wind farm prequalification

    The Egyptian Electricity Transmission Company (EETC) has delayed the deadline for the submission of prequalification documents for a wind farm project on the Gulf of Suez to 20 August.

  • Egypt extends ban on cement exports

    Egypt's Trade & Industry Minister Rachid Rachid has issued a decree extending a cement export ban until 1 October 2010.

  • Egypt extends cement export ban

    Egypt's Trade Ministry has extended a ban on grey clinker and grey portland cement exports until October 1, 2010 due to rising local demand, Reuters has reported. 'The increased demand for cement came as a result of continuing activity in the construction sector, which was not markedly affected by the global financial crisis,' the ministry has said.

  • Egypt launches oil and gas bid rounds

    Egypt's state-run energy companies have launched the state's first two bid rounds for oil and gas exploration so far in 2009.

  • Egypt lifts temporary duty on imported sugar

    Egypt's Ministry of Trade and Industry has eliminated a temporary 500 Egyptian pound ($90) per ton duty on white and refined sugar imports that it had imposed in January, Reuters has reported. Representatives of Egypt's food industry had asked the ministry to remove the duty to help reduce input prices and enable it to compete in the export market.

  • Egypt tourism revenue fell 9.5% in first half

    Egypt's Tourism Minister Zoheir Garranah said the country's tourism revenue fell 9.5% in the first six months of 2009, an improvement from the 17% decline recorded in the first quarter. Tourist arrivals in the first week of July were higher than the same period a year earlier, he added.

  • Egyptian banks face slowdown in lending activity

    Egyptian banks face a slowdown in lending activity during the rest of 2009 as corporate lending opportunities dry up and banks remain cautious on retail and small business loans, according to a report by the local HC Securities.

  • Egyptian firm bids low for Omani desalination plants

    Egypt's International Desalination & Water Treatment is the low bidder for two separate contracts to build desalination plants in Oman.

  • Egyptian firms wins charter contract

    The Egyptian Company for Gas Services has signed a charter contract with Deep Sea Supply for its Anchor Handling Tug and Supply Vessel 'Sea Lion' in Egypt. The estimated length of the contract is up to one and a half years, equivalent to that required supporting a two-well drilling program. The total contract value is in excess of $17.5m. The vessel will commence charter mid September 2009.

  • Egyptian inflation decreases

    Urban inflation in Egypt fell to 9.9 per cent in June from 10.2 per cent in May, according to the latest figures from the Central Agency for Public Mobilisation & Statistics.

  • Emaar closes Algerian offices

    Dubai-based developer Emaar Properties has closed its office in Algeria, blaming a lack of progress on $20bn worth of real estate projects it planned to build in the country.

  • Emaar makes a $350m loss

    Emaar Properties made a loss of AED1.3bn ($350m) during the second quarter of this year.

  • Emaar, MGF IPO still on the books

    Dubai-based Emaar Properties has said it is still considering an initial public offering for its India MGF joint venture, in line with its strategy announced last year, Reuters has reported. The IPO is still in the preliminary stage, the developer has added.

  • Emirates A380 on 1-day flight to UK

    Emirates airline has announced a one-day flight to Birmingham International Airport with its Airbus A380 on September 9th, as part of Birmingham International Airport's 70th anniversary celebrations. Passengers will have two chances to fly on the superjumbo between Dubai and Birmingham. Flight EK039 departs Dubai at 0805hrs and arrives in Birmingham at 1235hrs. Alternatively, travellers can take EK040, which leaves Birmingham at 1505hrs and lands in Dubai at 0105hrs the next day.

  • Emirates and Virgin Blue join hands

    Emirates and Virgin Blue airlines have teamed up to launch the Emirates Visit Australia Pass, allowing passengers further access to Australia. The pass offers domestic connections to 22 additional Australian destinations on Virgin Blue from all four Australian cities currently served by Emirates: Brisbane, Melbourne, Perth and Sydney.

  • Emirates 'disappointed' with access to Canada

    Emirates Airline has expressed its disappointment with the Canadian government's decision of not allowing it greater access to that country's various destinations and that its services to Canada are 'restricted to only three flights per week', Emirates Business has reported. Transport Canada, the country's transportation regulator, insists the current cap of six flights a week from the UAE to Canada, split between Emirates and Etihad, is enough to serve the market. 'The language Transport Can

  • Emirates invests Dhs230m on lounges

    Emirates Airlines has launched its first airport lounge in Africa at the O.R. Tambo International Airport in Johannesburg, bringing the total number of lounges the carrier has established across its network to 23. Emirates has so far invested Dhs230m to expand its lounge network worldwide. Including the Johannesburg lounge, the airline has opened four Emirates Lounges since April, the other three being in Dusseldorf, Mumbai and Beijing.

  • Emirates launches federal rail group

    UAE President Sheikh Khalifa bin Zayed al-Nahyan approved a bill proposed by the cabinet to set up the Etihad Trains Company, with start-up capital of AED1bn ($272m).

  • Emirates NBD profits drop 41 per cent

    Dubai's Emirates NBD has reported second-quarter profits of AED852m ($232m), a 41 per cent fall compared with same period in 2008 when profits were AED1.45bn.

  • Emirates Palace to build football pitch

    The Local Organising Committee of the FIFA Club World Cup UAE 2009 has announced that work has begun on a new, full-size football pitch at the Emirates Palace hotel in Abu Dhabi. The pitch will serve as one of eight official training grounds during the tournament this December.

  • Emirates to add more flights to Beirut

    Emirates Airline has said it will introduce nine additional services between Dubai and Beirut during the month of August to keep up with increased demand. Currently, Emirates operates a total of 17 weekly flights between Dubai and Beirut.

  • Emirates to raise fares into Australia

    Emirates Airline will raise fares into Australia for all cabin classes by 7% from this week, the Sydney Morning Herald reported. Emirates may be attempting to curb some of the losses incurred from heavy fare discounting over the past six months, the newspaper said, citing unnamed industry officials. It also may be a sign that the price war on the route between Australia and Europe has reached the bottom, the Herald said.

  • Emirates to use SmartLanding system

    Emirates Airline has announced that it will be the first airline a new landing aid designed to prevent runway overruns by warning pilots that an approach is unsafe while the aircraft still has time to go around. The SmartLanding system, developed by Honewell, is a software upgrade to the enhanced ground-proximity warning system that can provide warnings of an unstable approach, predicted long landing, inappropriate aircraft configuration, or incorrect altimeter setting. Airlines can select th

  • Emirates ups Sri Lanka, Maldives flights

    Emirates Airlines has launched additional services to Colombo and the Maldives from Dubai. The UAE's national carrier will add four flights to Colombo and five to the Maldives, bringing its total frequency to 18 flights per week to Sri Lanka and 14 flights per week to the Maldives.

  • Empire expands fleet

    UAE-based Empire Aviation Group (EAG), has announced the expansion of its fleet with the addition of a Gulfstream G450 intercontinental business jet. The group has brought under its management on behalf of a Middle East-based corporation. The aircraft joins EDG's mixed fleet of business jets which now comprises 12 aircraft, nine of which are offered to the charter market.

  • Emroc extends tender for Bab al-Qasr hotel

    The closing date for bids on the main construction contract for the Bab al-Qasr hotel in Abu Dhabi has been extended to 16 July to give bidders more time to prepare. The original closing date was 25 June.

  • Energoprojekt bids low for Hassyan substation consultancy

    Serbia's Energoprojekt Entel is the low bidder for an engineering services contract for the construction of a 400kV substation and transmission lines at Hassyan in the southwest of Dubai emirate.

  • Energy City issues tenders for Lusail buildings

    Qatari developer Energy City has invited contractors to bid by 26 August for a contract to build low-rise buildings at the Energy City development at Lusail.

  • Energy firms offer floating offshore platforms in Saudi Arabia

    Saudi Arabia's Shoaibi Group and the UAE's Gulf Marine Services have created a joint venture to provide offshore barge services in the kingdom.

  • Engineering firms hope to win trans-Saharan pipeline deal

    Algeria, Niger and Nigeria will tender a contract to design the estimated $13bn trans-Saharan gas pipeline before the end of 2009, according to international engineering firms.

  • Equity investors face a volatile future

    Investors in the Gulf, like everyone else, are waiting for the new equity boom to start. When it does, the risks are likely to be far higher than in the past.

  • Etihad Airways to sign US network expansion deal

    Etihad Airways plans to sign a codeshare agreement with American Airlines which would substantially enhance Etihad's trans-Atlantic and US domestic service.

  • Etihad appoints new senior VP corporate communications

    Abu Dhabi-based Etihad Airways has announced the appointment of Belinda de Rome as its new senior vice president to lead its corporate communications team. Ms de Rome, who will be based at Etihad's headquarters in Abu Dhabi and report to James Hogan, the airline's chief executive, had previously held the position of head of corporate communications at Australia's Qantas Airways, the airline said.

  • Etihad cancels A340 order

    According to data from Airbus, Abu Dhabi's Etihad Airways had cancelled one of eight outstanding orders for long-distance A340-600 jetliners worth $250m each at list prices, Reuters has reported. An Etihad spokesman has said the cancelled order related to an aircraft which rammed into a concrete wall during engine testing at the planemaker's Toulouse headquarters in November 2007, injuring nine people, including four seriously. 'Etihad has not deferred or cancelled any of its aircraft orders'

  • Etihad cancels order for Airbus jet

    Abu Dhabi-based Etihad Airways has cancelled one of its orders for an A340-600 aircraft from Airbus.

  • Etihad inks American Airlines codeshare

    UAE national carrier Etihad has announced a proposed codeshare deal with American Airlines. The deal will allow Etihad access to key cities in the United States including Washington, Los Angeles, San Francisco and Houston. The deal is awaiting regulatory approval from the US government.

  • Etihad inks code sharing deal with Turkish Airlines

    Etihad Airways has announced a new code-share alliance with Turkish Airlines. The alliance will allow Etihad customers to choose from daily services between Abu Dhabi and Istanbul, instead of the four flights a week the Abu Dhabi carrier currently serves with its own aircraft between the two cities that began on June 1. Etihad said it would place its two-letter 'EY' code on Turkish Airline's flights from Istanbul to Abu Dhabi.

  • Etihad inks codesharing deal with Cyprus Airways

    Etihad Airways has signed a memorandum of understanding for codesharing with Cyprus Airways, which would enable the Cypriot carrier to place its 'CY' code on Etihad's flights between Larnaca and Abu Dhabi. The agreement will also boost Etihad's presence in the Cypriot market, through the greater cooperation with the Cyprus Airways, the Mediterranean island's national airline.

  • Etihad inks Turkish code share

    Etihad Airways has signed a code-share agreement with Turkish Airlines, under which the Abu Dhabi-based airline will place its two-letter 'EY' code on Turkish Airlines' flights from Istanbul to the UAE's capital city and the Turkish airline will place its two-letter 'TK' code on Etihad Airways' flights from Abu Dhabi to Istanbul. The agreement comes on the heels of the launch of Etihad's four flights a week service to the Turkey's commercial capital, Istanbul, which began on June 1, 2009.

  • Etihad introduces new offerings from Kuwait

    Etihad Airways has introduced new fares and improved connectivity for its customers travelling from Kuwait via Abu Dhabi to different destinations that cover the European and Asian regions. Etihad's new economy class fares start from KD90 Kuwaiti to London and Milan, Bangkok for KD60, Munich and Istanbul for KD100. Asian cities included in the special offer include India, Bangladesh, the Philippines, and Bangkok. Travellers need to book their tickets before the July 31, 2009 to avail of the s

  • Etihad invited to join IATA security committee

    The International Air Transport Association (IATA) has appointed the UAE's Etihad Airways as a member of its Working Group Committee for Security. The carrier is the first airline from the Middle East to join the committee. The security committee's ten members are selected from IATA's 230 member airlines, which together cover more than 90% of all scheduled international air traffic. Appointments are made in recognition of the airlines' experience and contribution to aviation security for a pe

  • Etihad launches online 'tour'

    Etihad Airways has launched a new online 'micro-site', showcasing its in-flight and ground experience. Among the highlights is a detailed demonstration of Etihad's recently launched first class suite, which includes facilities such as a 23-inch television screen; personal wardrobe; an extra-large seat that extends to a fully-flat, 80.5 inch bed; and screen doors which slide shut for total privacy. The site is currently available for use in three language options, English, French and German, w

  • Etihad plans codeshare deal with Cyprus Airways

    Etihad Airways is expanding its network of codeshare agreements with other carriers, signing a memorandum of understanding with Cyprus Airways ahead of a firm deal.

  • Etihad to fly to Cape Town

    Etihad has announced that it is launching its second route to South Africa with service to Cape Town beginning in September. The indirect service, which will start on September 30 using an Airbus A330, will fly first to Johannesburg before carrying on to Cape Town. When launched, the Abu Dhabi carrier will operate to five destinations in Africa with Kartoum, Cairo and Casablanca services already in place.

  • ExxonMobil starts drilling on Libyan oil field

    ExxonMobil Corporation has started drilling its first deep-water exploration well offshore in the Sirte basin northeast of Libya.

  • Ezz awaits new Algerian law to start project

    Egypt-based El Ezz Steel Rebars has said it is waiting for Algerian government to ratify the new investment law before it starts the $1bn first stage of Ezz Steel project in the Algerian city of Wahran. The company has concluded the technical and engineering studies and started negotiating with suppliers for the project equipments and machinery, reported Arab Finance.

  • Firm to set up glass processing complex in Bahrain

    Bahrain-based Glasstech Industries has announced plans to set up an industrial complex for glass processing for architectural works in the Park in Hidd area in the kingdom, the Gulf Daily News has reported. The new plant will produce one million metres of glass annually per shift of a wide range of glass of different sizes including tempered, laminated, insulated, sandblasted and silk screen printed glass, the company said. The construction contract for the complex will be awarded in October

  • Firms bid for Aramco gas piping deal in Shedgum

    Saudi Aramco has received bids from nine companies for a $40m contract to upgrade the acid gas piping system at its Shedgum gas processing plant, 135 kilometres southwest of Dhahran in the Eastern Province.

  • Firms bid for Moroccan wind power scheme

    Two groups have bid for a project to build a wind farm at Tarfaya on Morocco's Atlantic coast.

  • Firms bid for nuclear plant deal in Emirates

    Emirates Nuclear Energy Corporation (Enec) has received three bids for the contract to build the UAE's first nuclear power plant.

  • Firms compete for Aramco oil plant upgrade project

    Saudi Aramco has received bids from at least 12 companies for a $300m contract to expand 13 bulk plants that serve as oil distribution points across the kingdom.

  • Firms line up for Habshan gas work

    Abu Dhabi Gas Industries (Gasco) is prequalifying companies to bid on an estimated $60m contract to build a standby flaring unit at its Habshan gas processing facilities.

  • Firms line up for Omani water management scheme

    A total of 18 companies have purchased prequalification documents for a water management scheme in Oman.

  • Firms set to start building St Regis resort

    The joint venture of South Africa's Murray & Roberts Contractors (Middle East) and the local Al-Habtoor Engineering Enterprises will start work in August on their AED1.8bn ($490m) St Regis resort on Saadiyat Island in Abu Dhabi.

  • Firms submit bids for Kuwaiti hospital

    Kuwait’s Public Works Ministry has received bids for the main construction contract on the Jaber al-Ahmed al-Sabah hospital, one of the largest building projects undertaken in Kuwait.

  • First Gulf Bank profits fall 4 per cent

    Abu Dhabi's First Gulf Bank has reported profits for the second quarter of 2009 of AED775m ($211m), a fall of 4.13 per cent, compared with SR808.41m during the same period in 2008.

  • Flydubai adds Aleppo route

    Flydubai is now flying to a fifth destination, Aleppo, Syria's second largest city. One way fares to Aleppo from Dubai cost from Dhs300 Aleppo has become the fifth destination for Dubai's budget airline, Flydubai when its inaugural flight FZ223 touched down in Syria's second largest city on Monday. One way fares to Aleppo from Dubai cost from Dh300 and can be purchased from the carrier's website (www.flydubai.com), call centre (043010800) and travel partners. The Aleppo flights are being serv

  • Flydubai CEO says passenger demand 'very good'

    The CEO of Flydubai said passenger demand during the low-cost carrier's first month of operation has been 'very good'. Ghaith Al Ghaith told AME Info that 'the response from the customer has been very good and the operation itself has been, touch wood, very silky. Many of the things we wanted to do we are doing very efficiently and we are very proud of what we have'. Al Ghaith also confirmed the carrier plans to have 14 services in operation by the end of the year.

  • Flydubai inks Boeing finance deal

    Flydubai said today it has secured $320m in financing from GE Capital Aviation Services for the purchase of four Boeing 737s, reported The National. The four aircraft will be delivered between now and December to help meet the needs of the airline's expansion plans.

  • Flydubai refunds India bookings

    Dubai's lowcost carrier Flydubai has issued a statement regarding its delay on flights to India, due to operational concerns. The airline's CEO Ghaith Al Ghaith said, "All passengers who have booked flights to India will be contacted within the next few days and will be given a full refund, plus a voucher for a free return flight to India or anywhere on the flydubai network, which will be valid for travel until the end of November 2009."

  • FlyDubai secures $320m aircraft financing

    FlyDubai has announced a $320m deal with GE Capital Aviation Services (Gecas) to finance four aircraft.

  • Flydubai service to Indian city hits glitch

    Dubai's budget airline, Flydubai, has hit its first operational glitch, acknowledging it was still trying to work out 'the final few pieces' of the service it plans to launch later this month to Chandigarh, India. Flydubai had expected its flights to the city to arrive there at around 11pm and take off again before midnight; however, The Times of India reported that the Indian Air Force does not allow civilian planes to operate at Chandigarh after 10pm. 'The final few pieces of the operation

  • Former RJ CEO joins Gulf Air

    Gulf Air has announced Samer Majali, former CEO of Royal Jordanian as the new CEO. Majali will take over at Gulf Air within the next few months from current CEO Björn Näf. Royal Jordanian joined 'Oneworld' in 2007, and was successfully privatized under Majali's management.

  • French company to develop Qatar offshore block

    France's GDF Suez is to explore for oil and gas in Qatar for the first time after acquiring a 60 per cent stake in offshore Block 4 from the US' Anadarko Petroleum.

  • French firm awards Egyptian oil deal to Plexus Holdings

    France's GDF Suez has awarded a $1m contract to UK engineering services firm Plexus Holdings to supply wellhead systems for exploration activities in the Egyptian region of the Mediterranean Sea.

  • Fujitsu launches Windows 7 upgrade voucher

    Fujitsu Technology Solutions has announced that under the royalty-free MS Windows 7 upgrade program, end users purchasing any of its systems running either Windows Vista Home Premium or Windows Vista Business operating system, will be offered an upgrade voucher starting June 26, which can be redeemed from the time of the Windows 7 launch until the end of January 2010. The program is royalty-free, Fujitsu has said, however, shipping and media creation fees will apply.

  • Fund cuts regional growth forecast to 2 per cent

    The Middle East’s economy will grow by just 2 per cent in 2009 because of the continued fall in world trade, according to the International Monetary Fund (IMF) which has cut its forecast for 2009 by 0.5 percentage points.

  • Fursan inks Travelport deal

    Saudi-based travel agency Fursan Travel has signed an agreement with Travelport for its Galileo GDS system. The new, multi-year contract will give all of the agency's Galileo subscribers access to an array of travel solutions and training services, along with a full range of fares available through the booking platform.

  • Galfar wins Omani hospital work

    The Omani Health Ministry has awarded the local Galfar Engineering & Contracting a RO15m ($39m) contract to build a cardiac centre at Sultan Qaboos hospital in Salalah.

  • GCC launches first phase of interconnected grid

    Bahrain, Qatar, Saudi Arabia and Kuwait connected their electricity grids together on 26 July as part of the first phase of the $1.1bn GCC power grid project.

  • GE and Hyundai bid low for Subiya power work

    A consortium of the US' GE and South Korea's Hyundai Heavy Industries is the low bidder for Kuwait's Subiya power plant project with a bid of KD766m ($2.7bn).

  • GECAS agrees $320m finance deal for Flydubai

    General Electric's aircraft financing and leasing business, GECAS, has agreed a deal with Flydubai to finance four Boeing 737-300 aircraft worth $320m, for delivery before year end. Phil Blizzard talks to Ghaith al Ghaith, CEO, Flydubai about the implications of the deal and also about its first month of operations.

  • Ghanem al-Thani approaches firm for Regent Hotel work

    The local Ghanem Al-Thani Holdings has invited contractors to express interest in a construction package on its Regent Hotel project in Doha.

  • Global airline industry lost $3bn in Q1

    The International Air Transport Association (IATA) has said that weak travel demand and lower freight volumes in the global recession has led to more than $3bn in losses for the world's airlines in the first quarter of 2009. Maintaining its estimate for full-year losses of $9bn, IATA warned that the 30% increase in oil and jet fuel prices since early May would squeeze airline cash flows further in coming months. 'Airlines have not yet felt the full impact of this oil price rise,' it said.

  • Gofsco signs up for Kuwait oil well services

    The local Gas & Oilfields Services Company (Gofsco) has won a KD35m ($122m) to provide oil field services in Kuwait.

  • Google unveils Chrome OS

    Google Inc. has announced plans to attack Microsoft Corp's core business by taking on the software giant's globally dominant Windows operating system for personal computers. The Google Chrome Operating System will initially be targeted at Netbooks. The new OS will be available to Netbooks users in the second half of 2010, the web search giant has said in a blog post, adding that it was working with multiple manufacturers.

  • Groups bid for LinkdotNet

    Naguib Sawiris, Chairman of Orascom Telecom has said that Vodafone Egypt, Telecom Egypt and Mobinil and some financial institutions are bidding for Orascom Telecom's internet service provider LinkDotNet, Reuters has reported. Although Sawiris has not named the financial institutions involved, he said that Orascom's internet unit would be sold 'to the highest bidder.'

  • Gulf Air Iraq flights 'imminent'

    Bahrain's national carrier Gulf Air has announced that it plans to resume its flights to Iraq as soon as possible. This decision follows the agreement made between the governments of Bahrain and Iraq on July 9, allowing the national carriers of the two countries to operate direct services between Bahrain and four cities in Iraq. A total of seven weekly flights have been authorized to operate from Bahrain to Baghdad and 12 weekly flights to Najaf. Gulf Air first started flying to Iraq's capita

  • Gulf Air to see further restructuring

    Gulf Air will launch a strategic review of its business that will likely lead to a major restructuring once Samer Majali joins as chief executive officer, reported MEED. Bahrain's national carrier is currently seeking a restructuring advisor and will soon issue a tender in that regard.

  • Gulf Keystone denies takeover rumours

    UK-based oil exploration company Gulf Keystone Petroleum has denied rumours it is in talks with a joint venture of Indian Oil Corporation and Oil India about a takeover of the company.

  • Gulf Keystone risks losing Algerian exploration permit

    UK-based Gulf Keystone may forfeit a $7.5m investment in a major oil and gas exploration and production permit in Algeria.

  • Gulf Keystone to sell Algerian oil permit

    UK-based Gulf Keystone says it plans to sell its share of a major oil and gas exploration and production permit in Algeria so it can concentrate on its operations in the Kurdistan region of northern Iraq.

  • Gulf Projects 13 July 2009: Index rises 0.1 per cent

    In the week to 13 July, the MEED Projects Index rose by 0.1 per cent to reach nearly $2.59 trillion. The value of projects on hold across the region stood at $535bn.

  • Gulf Projects 20 July 2009: Index rises 0.1 per cent

    The MEED Projects - CMI Index rose by 0.1 per cent for the second week in a row this week, surpassing $2.59 trillion. The value of projects on hold across the region was more than $535bn.

  • Gulf Projects 25 July 2009: Index rises 1.1 per cent

    The week to 27 July ended with the MEED Projects - CMI Index crossing the $2.6 trillion mark in a 1.1 per cent rise on the previous week. The increase was driven by the Qatari and Saudi Arabian project markets, which both expanded by 3 per cent.

  • Gulf Projects 6 July 2009: Index rises 0.4 per cent

    The MEED Projects - CMI Index increased by 0.4 per cent in the week to 6 July. The value of projects on hold across the region reached $533bn.

  • Gulftainer wins Borouge logistics deal

    Abu Dhabi National Polymers Company (Borouge) ha awarded Sharjah-based ports operator Gulftainer a five-year deal to oversee logistics operations at the company's petrochemicals production complex, Meed has reported. Gulftainer will manage operations at the petrochemicals complex at Ruwais, to provide bagging and packaging services as well as the maintenance of vehicles and equipment at the site.

  • Hague court gives control of Abyei oil fields to north Sudan

    An international court has settled a dispute between the governments of north and south Sudan over the borders in the central Abyei region, giving the northern state control of major oil fields in the area.

  • Halwani Brothers Q2 profit up 32%

    Saudi food company Halwani Brothers Co. has reported a 32% rise in Q2 profit due to operating profit gaining 31.7% in the second quarter. Halwani has made a net profit of SR11.9m ($3.17m) in the three months to June 30, compared with SR9m a year earlier.

  • Hanwha signs Yanbu power deal

    South Korea's Hanwha Engineering & Construction Corporation has signed a SR2.7bn ($720m) contract with Power & Water Utility Company for Jubail & Yanbu (Marafiq) for the phase five and six expansions of the Yanbu Industrial City power plant.

  • Hanwha wins Yanbu power plant expansion deal

    South Korea's Hanwha Engineering & Construction Corporation has won a $720m contract for the phase 5 and 6 expansion of the Yanbu Industrial City power plant.

  • Haya Water delays Darsait plant bids

    Oman's Haya Water has delayed the bids deadline for two contracts on its planned Darsait wastewater treatment plant to 27 July.

  • Hill International to manage Aabar's Abu Dhabi projects

    Local developer Aabar Investments has appointed US-based Hill International to provide project management services on 14 building projects in Abu Dhabi.

  • Hill International wins Libyan university work

    Libya's Organisation for Development of Administrative Centres (Odac) has awarded US-based Hill International a contract to manage the design of 25 new university campuses.

  • Hilton Garden Inn opens in Saudi

    Hilton Hotels Corporation has opened its first Hilton Garden Inn property in the Middle East with the Hilton Garden Inn Riyadh Olaya in Saudi Arabia. 'The opening marks the entry of our first mid-market mid-priced brand into the region. This is expected to be the first of many Hilton Garden Inn hotels in Saudi Arabia that we are developing with the owners, the Al Hokair Group,' said Essam Abouda, Vice President Operations, Hilton Hotels, Arabian Peninsula & Indian Ocean. The newly opened Hil

  • Hotels in Makkah, Madina excluded from SCTA rules

    Prince Sultan Bin Salman Bin Abdul Aziz, President of the Saudi Commission for Tourism and Antiquities (SCTA), has approved the exclusion of hotels and furnished apartments in Makkah and Madina from some of the new specifications and standards by the tourism body, which were endorsed recently, the Saudi Gazette has reported. However, the exclusion does not mean relinquishing the standards of safety and service expected at Makkah and Madina hotels, he said.

  • HP appoints EJADA as partner in Saudi

    HP Technology Services Group (TSG) has announced the appointment of EJADA Systems Co. Ltd as its channel partner to oversee HP's Software & Solutions business in Saudi Arabia. EJADA will support HP in expanding its newly launched software solutions portfolio which covers end-to-end enterprise management solutions from strategy, operations to application and automation. In addition to Saudi Arabia, the partnership will soon be extended to cover key growth markets such as UAE, Bahrain and Jorda

  • HP launches Pavilion dv3 notebook

    HP Middle East has announced its new HP Pavilion dv3 Entertainment Notebook PC is now available in the Middle East. The new edition uses Intel and has advanced NVIDIA GeForce G105M dedicated video graphics, 512MB dedicated video memory and a brilliant 13.3-inch diagonal LED widescreen display with BrightView Infinity option.

  • HP launches Z workstations in the Middle East

    HP Middle East released three Z series workstations in the Middle East today, the HP Z800, HP Z600 and HP Z400. The company said that the Z range includes a number of changes so that the workstations take better advantage of the Intel Xeon 5500 processors that they use. HP is pushing the workstations' green credentials as well as their performance and features include a self-checking power supply. The series is Energy Star 5 qualified, has 85% efficient power supplies and an option on the HP

  • Hyatt's hotels in Germany seek ME travelers

    In a bid to attract more visitors from the Middle East, Hyatt has issued a statement saying its four properties in Germany offer special services including Arabic-speaking staff, authentic culinary specialties and prayer carpets to provide a more comfortable stay for guests traveling from the region. 'As part of Hyatt's authentic hospitality, we seek to provide our guests with the comfort of being in a home away from home. Because the Middle East is an important market for us, we have tailore

  • Hyundai secures Kuwaiti power contract

    South Korea's Hyundai Engineering & Construction has won a contract to install 400kV transmission lines in Kuwait.

  • Iberotel to run Sharm El Sheikh property

    Egypt's Travco Group Holding has signed an agreement with Iberotel for the management of Iberotel Il Mercato Sharm El Sheikh Hotel, which is due to start operations by January 2010. The 276-room property features multiple dining options, a spa with a sauna, massage room, Jacuzzi, and a fitness centre; and four swimming pools located around the hotel.

  • IHG to develop waterfront hotel in Oman

    Oman-based Blue City Company 1 (BCC1) said it has signed an agreement with InterContinental Hotels Group (IHG) to develop a five-star waterfront hotel at Al Madina A'Zarqa, a real estate infrastructure project in the Sultanate. The coastline hotel will comprise 200 guest rooms and 50 suites and is in close to the Al Na'man community, the shopping district, golf course and the creek marina.

  • IHG to launch luxury residences in Dubai Festival City

    InterContinental Hotels Group (IHG), in conjunction with Al-Futtaim Group, is set to open the InterContinental Residence Suites this July at Dubai Festival City. The 212-apartments property encompasses studios as well as one, two and three bedroom suites, as well as a Royal Suite penthouse with panoramic creek views and its own spa treatment room. Other in-house facilities include Level 17, a lounge boasting a 180-degree view over the creek.

  • IHG to manage Al Madina hotel

    Oman-based Blue City Company has signed an agreement with InterContinental Hotels Group for the latter to manage it beachfront property, InterContinental Al Madina A'Zarqa. The hotel consists of 200 rooms, including 50 suites. The hotel will alo provide meeting and conference facilities, fitness centres and spa.

  • IHG to promote geotourism

    InterContinental Hotels & Resorts Group has announced its partnership with the National Geogrpahic Society to include global geotourism initiatives among InterContinental Associates and guests worldwide. The partnership would entail responsible business workshops for more than 60,000 InterContinental associates worldwide. InterContinental and National Geogrpahic are also set to establish a responsible business advisory board.

  • ILF Consulting to manage Ras al-Zour pipeline construction

    Saudi Arabia's Saline Water Conversion Corporation has appointed Austria-based ILF Consulting Engineers as the engineer on the planned Ras al-Zour to Riyadh water pipeline.

  • Impregilo secures Libya infrastructure work

    Italy's Impregilo, through its Libyan subsidiary Impregilo Lidco, has won three contracts worth Eu360m ($507m) from the country's Housing & Infrastructure Works Ministry.

  • Indian travel agent conference to be held in Dubai

    Dubai Department of Tourism and Commerce Marketing has signed a memorandum of understanding with the Travel Agents Association of India for the hosting of the annual conference of India's travel trade body in Dubai from September 29 to October 2. The conference will contribute extensively in promoting and marketing Dubai in India which has been showing signs of strong growth, TAAI President Rajinder Rai said.

  • Injazat inks deal with Abu Dhabi Commercial Bank

    Injazat Data Systems has signed a deal with Abu Dhabi Commercial Bank to provide the bank with a secure and reliable environment for all of its mission-critical IT infrastructure and systems through its new Abu Dhabi-based Tier IV Data Centre, the first certified commercially-available facility of its kind in the region.

  • Intel unveils first 34-nanometer NAND flash drives

    Intel Corporation is moving to a more advanced, 34-nanometer manufacturing process for its NAND flash-based Solid State Drive products, which are an alternative to a computer's hard drive. The move to 34nm will help lower prices of the SSDs up to 60% for PC and laptop makers and consumers who buy them due to the reduced die size and advanced engineering design, Intel said. The multi-level cell Intel X25-M Mainstream SATA SSD is aimed at laptop and desktop PCs and available in 80GB and 160GB v

  • International Capital Trading issues tenders for Marasy work

    Abu Dhabi-based International Capital Trading (ICT) has invited prequalified companies to bid by 19 August for the contract to build its Marasy development in Abu Dhabi.

  • International Finance Corporation funds Algerian cement plant

    The International Finance Corporation, part of the World Bank, will invest $24m in a cement company in Algeria so that the business can build a new cement plant.

  • International Monetary Fund predicts 4 per cent growth in Egypt

    Egypt’s rate of economic growth is expected to remain at 4 per cent in 2009/10, according to the International Monetary Fund (IMF).

  • International Private Investments invites firms to bid for Sharjah Mall

    Selected companies have been invited to bid by 30 July for a contract to build a major shopping mall in Sharjah.

  • Interstate Paper Industries launches operations

    Indevco Group has announced that Interstate Paper Industries in Sadat City, Egypt has begun operations and exported its first containers of jumbo tissue rolls to Saudi Arabia and Cyprus at the beginning of July. The tissue mill is said to produce up to 30,000 MT of premium grade tissue paper annually using imported virgin pulp, which will be run by gas-fired power plant starting in August.

  • Iran awards South Pars gas plant deal to contractors

    Iran's state-owned Petropars has awarded a $1.8bn construction deal to four contractors for a gas treatment plant connected to phase 12 of the South Pars gas field.

  • Iran to help fund South Pars gas project

    Iran has pledged to provide an additional $1bn in investment for phases 15 and 16 of the South Pars gas development in order to meet a funding shortfall.

  • Iran to invest $500m in Caspian Sea oil field development

    Iran's state-run Khazar Oil Company is to invest $500m in development of oil and gas resources in the Caspian Sea.

  • Iran to launch seismic deal for gas fields

    The state-run Pars Oil & Gas Company (POGC) is about to launch a tender covering seismic work on the Golshan and Ferdows gas fields in southern Iran.

  • Iranian gas deal with Emirates still possible

    The state-run National Iranian Oil Company (NIOC) says it is still prepared to supply gas to the UAE’s Crescent Petroleum even though the Sharjah-based firm has started arbitration proceedings against the NIOC.

  • Iranian plane crashes en route to Armenia

    An Iranian aircraft has crashed in the country's northwestern province of Qazvin on a flight to Armenia, state television has reported. All 168 aboard were believed to be dead. The Russian-made Tupolev plane operated by Iran's Caspian Airlines came down 16 minutes after takeoff from Tehran's Imam Khomeini International Airport, Reza Jafarzadeh, a spokesman for the country's aviation agency, told Iran's state-run Mehr news agency.

  • Iraq agrees deals for Umm Qasr port

    The Iraqi Transport Ministry has signed two contracts with foreign operators to lease and develop new commercial berths at the country's deep-sea port of Umm Qasr.

  • Iraq awards refinery deals to Shaw Group

    Iraq's Oil Ministry has awarded contracts to the US' Shaw Group for studies on two planned 150,000-barrel-a-day (b/d) refineries in Missan in the south and Kirkuk in the north.

  • Iraq cancels oil rig deal with UK firm

    Baghdad's state-run Iraqi Drilling Company has cancelled a $400m joint venture agreement with the UK's Mesopotamia Petroleum Company after the firm missed a deadline to provide $44m in funding for the project.

  • Iraq considers creating institution to pay compensation to Kuwait

    Iraq has proposed the establishment of a joint Iraqi-Kuwaiti financial institution through which Baghdad can pay compensation to Kuwait.

  • Iraq invites firms to second oil bid meeting

    Iraq's Oil Ministry will hold a roadshow for its second oil licensing round in Istanbul on 25 August in an attempt to reverse the disappointing results of the first bid round held in June.

  • Iraq signs two port investment contracts

    Iraq's Transport Ministry said it has signed two contracts with French firm CMA and a German-Kuwaiti joint-venture to invest in two commercial wharfs in Umm Qasr port, Aswat al-Iraq news agency has reported. The ministry has also signed another contract with an Iraqi firm to build two new docks and a container station at a cost of more than ID14 billion ($12m) with the aim of increasing the volume of exported and imported loads via the southern ports.

  • Iraq to build Gulf Cup Sports City

    Iraq's government spokesman, Ali al-Dabbagh has said that the country has allocated $446m to build a 146 hectare modern 'Sport City' in the southern oil hub of Basra to host the Gulf Cup at the end of 2012. Earlier in the year, Gulf football chiefs had accepted Iraq's request to host the 21st edition of the tournament.

  • Iraq to sell stored planes

    Iraq's ministry of transport has put up for sale four Iraqi Airways Boeing 727s and two 707s which have been in long-term storage at the Queen Alia International Airport in the Jordanian capital Amman. The ministry has set a July 16 deadline for submissions of interest in the grounded aircraft.

  • Iraq, Bahrain sign MoU

    Bahrain has signed a memorandum of understanding with Iraq to facilitate air travel between the two countries. The MoU involves operating flights between Bahrain International Airport and Iraq's Baghdad and Najaf airports, the Kuna agency has reported.

  • Iraqi Airways to lease 20 planes

    Iraq's Transport Ministry has said that Iraqi Airways has signed a four-year agreement with Ross Aviation to lease 20 aircraft and jointly operate them with the US-based firm. Under the agreement, the country's national carrier will receive 12% of total revenues during the first two years of the contract, and 15 % during the third and fourth years, after which Iraq will buy two of the cargo aircraft on lease.

  • Iraqi Airways to lease aircraft from US firm

    Iraqi Airways will lease 20 aircraft from Ross Aviation, jointly operating the planes with the US group.

  • Iraqi Kurdistan awards oil fields to Gulf Keystone

    The Kurdistan Regional Government (KRG) of northern Iraq has awarded UK-based Gulf Keystone two production-sharing agreements (PSAs) to explore the Sheikh Adi and Ber Bahr oil blocks in the Dihok Province.

  • IT spending to fall in Gulf

    A new report by IDC says information technology spending in the Gulf is likely to fall sharply for first time this year. IT spending in six Gulf countries is forecast at $12.18bn, a decrease of 5.83% compared to $12.94bn in 2008. Research firm IDC has slashed its growth forecast for the third time this year. In December, they revised the figures from $15.93bn to $14.95bn and now to $12.18bn.

  • Italian firm to set up manufacturing plant in UAE

    Italy-based Legnano Teknoelectric, a processor of electrical steel and manufacturer of magnetic cores for transformers, announced that it will establish its first manufacturing plant in the Middle East in the Jebel Ali Free Zone (Jafza). The new plant, which covers an area of 27,500 sq.m, will process grain oriented electrical steel, from coils right up to fully built magnetic cores for distribution and electrical power transformers. The new facility, scheduled to open by 2012, will help deli

  • Italian firm wins Libyan railway deal

    Italy's Ansaldo STS has won a $769m contract for signalling, power and telecommunications equipment on two railway lines in Libya.

  • Jafza, Aviation City enter logistics pact

    Economic Zones World, through its flagship entity Jafza, and Dubai Aviation City Corporation, are entering into a collaboration that could result in the doubling of Dubai's industrial and logistics infrastructure. The agreement sets out to create The Dubai Logistics Corridor, a transport and logistics corridor linking sea, land and air, bringing together for the first time in the Middle East all of the components needed to create multi-modal logistics platform. To develop the multi-modal logi

  • Japan's Sojitz to build Shuaiba 3 substation in Saudi Arabia

    Japan's Sojitz Corporation has signed a SR85m ($22.7m) contract for the construction of a substation in Saudi Arabia's Western Region.

  • Jazeera Airways adds new route to Isfahan

    Kuwait's low-cost airline, Jazeera Airways, said it has launched direct flights to the ancient Iranian capital of Isfahan. The launch brings the total number of routes the airline flies to in Iran, to four. The direct flights to Isfahan will operate three times a week on Sunday, Tuesday and Thursday, with one way fares from as low as KD 15.

  • Jazeera Airways announces route changes from Bahrain

    Kuwait's Jazeera Airways has announced changes to the airline's operations out of Bahrain in light of the new regulations issued by the Iranian government. The airline's direct flights from Bahrain to Mashhad have been cancelled and will now operate with an intermediate stop in Kuwait. Passengers with an existing booking to Mashhad will be offered the choice of: re-accommodation for travel on the same date via Kuwait; a full refund inclusive of all fees and taxes; or a full refund for travel

  • JCCS becomes HP Professional Service Partner

    HP Technology Services Group has announced the appointment of Jeraisy Computer and Communication Services as its first Professional Service Partner in Saudi Arabia. As HP's first Professional Service Partner, JCCS will be fully authorized to implement HP's broad range of Storage and BladeSystem solutions across the kingdom. The PSP authorization is one of the three service specializations that falls under the HP Preferred Partner Program.

  • Jeel launches Saudi DLS

    Jeel Internet Solutions Saudi Arabia, an internet service provider, has launched 'Jeel BARQ DSL', a DSL internet service dedicated to the corporate market, small businesses and customers, traders and businessmen. BARQ is available on limited subscription in speeds of 1Mbps, 2Mbps, 4Mbps, 8Mbps and 10Mbps, and includes Google Mail Security and Google Apps for small investors and businessmen, Free Domain Hosting and Server Co-Location for small businesses and a free High Speed Linksys Modem on

  • Jet adds Dubai, Hyderabad service

    India's Jet Airways plans to launch its fifth daily service to Dubai from Hyderabad. Jet has also announced an all inclusive introductory return fare of Dhs995 in economy class, valid for travel from Dubai to Hyderabad in the first week of its new operation from August 16 to August 22, with return travel to be completed by September 30, 2009. Jet's Premiere fares start at Dhs2,000 without taxes. The airline has said it will commence services on the route aboard a Boeing 737-800 aircraft.

  • Jet Airways to fly to Jeddah

    India's Jet Airways has launched its seventh Gulf destination with the introduction of its daily direct service from Jeddah to Mumbai. The airline's Flight 9W 521 will depart Jeddah at 0100 hrs and will arrive in Mumbai at 0835 hrs, while Flight 9W 522 will depart Mumbai at 2135 hrs and will arrive in Jeddah at 0001 hrs. Jet Airways will operate its maiden flight on the sector aboard a Boeing 737-800 aircraft.

  • Jet Airways to start Riyadh-Mumbai flights on Aug. 6

    Jet Airways, the first private airline from India to fly to Saudi Arabia, has announced it will start its Riyadh-Mumbai flight on August 6, the Saudi Gazette has reported. The carrier will operate the new route's flights on Monday, Tuesday, Wednesday, Thursday and Saturday. Jet Airways has been operating daily Jeddah-Mumbai flights since July 15, and a Dammam-Mumbai flight is in the pipeline, the airline has said.

  • Jet to launch Sharjah-Kochi route

    India-based carrier Jet Airways has said that it will launch its fourth daily service from the Gulf to Kochi with a daily service from Sharjah on September 1. The airline currently flies twice daily to Mumbai from Dubai and daily to Delhi and Chennai from Dubai; it also operates daily services to Abu Dhabi from Delhi and Mumbai respectively.

  • Jordan approves Shell oil shale deal

    Jordan's parliament has approved a $500m concession agreement with the UK/Dutch Shell Group to exploit the kingdom's oil shale reserves.

  • Jordan boosts aviation ties with Iraq

    Jordan's Civil Aviation Regulatory Commission has signed an agreement with the Iraqi Civil Aviation Authority which enables Jordanian and Iraqi carriers to operate passenger and freight flights between the two countries with no limits regarding aircraft capacity or type, the Jordan Times has reported. Under the MoU, the two sides have agreed to operate flights to and from two more stations in Iraq, the cities of Mosul and Najaf. The agreement also stipulates that the Jordanian side presents a

  • Jordan enterprise development inks Italy deal

    Jordan Enterprise Development Corporation (JEDCO) has signed an agreement with an Italian company to establish a garment design centre in the kingdom. Under the agreement, the Italian company will provide €3.5m to boost the competitiveness of small and medium size enterprises, as well as consultative and technical services to develop the work of Jordanian companies operating in this field.

  • Jordan finalises negotiations over Risha gas work

    Jordan expects to sign an exploration deal with the UK's BP by the end of July to develop the Risha tight gas field in the northeast of the country.

  • Jordan issues tender for Aqaba phosphate port

    The Jordan Phosphate Mines Company (JPMC) has invited companies to bid by 28 September for a contract to build a phosphate export terminal at Aqaba.

  • Jordan issues tender for port

    The Jordan Phosphate Mines Company (JPMC) has invited bids for a contract to build a phosphate export terminal at Aqaba, reported MEED. Located in the most southern part of Aqaba's port complex, the project involves building a 4-million-tonne-a-year (t/y) rock terminal with truck unloading and handling facilities, storage facilities, pipe conveyors and other marine terminal facilities. Bids are due by September 28.

  • Jordan: Pilgrims to use only licensed transport

    Jordan's Public Transport Regulatory Commission (PTRC) has announced that it will not allow owners of public transportation vehicles, those operating in cities and between governorates, to carry pilgrims during the Hajj season, the Jordan Times has reported. Only companies licensed to transport pilgrims to Saudi Arabia will receive the permits, a PTRC spokesperson has said noting that the decision came to prevent overcrowding in public transportation vehicles.

  • Jordan: Trunk sewer construction

    Construction of the Suf trunk sewer. Closing date: 6 August 2009

  • Jordan's $1bn water project financing agreed

    Financing for the $1bn Disi water project in Jordan has been completed, with signing taking place on 30 June.

  • Jordan's tourism revenues rise in H1

    Jordan's tourism revenues climbed 1.9% in the first six months of this year, and the total number of visitors to the Kingdom rose by 3%, Jordan Times has reported. Central Bank of Jordan figures show that the tourism sector had generated JD847m in revenues between January and June of 2009, compared with JD831m during the same period last year. Number of tourists from Arab countries represented over 25% of the total number of visitors, an 8% increase from last year, while the number of Europea

  • Jumeirah to manage resort in China

    Dubai luxury hotelier Jumeirah Group has said it has been appointed by Hong Kong's Agile Property Holdings to manage the Jumeirah Qing Shui Bay Resort in China, Reuters has reported. The resort will comprise a 250-room hotel and 50 private villas, and is expected to open in 2013. This will be Jumeirah's fourth management agreement in China after Shanghai, Guangshou and Macau, the group said.

  • Juniper and IBM ink networking deal

    Juniper Networks and International Business Machines Corporation have signed a deal that will enable IBM to provide Juniper's Ethernet networking products and support within IBM's data center portfolio of products. The addition of Juniper's products to IBM's data center networking portfolio accelerates both companies' shared vision of advancing the economics of networking and the data center by reducing costs, improving services and managing risk, according to a press statement.

  • KAIA survey to measure passenger satisfaction

    Saudi Arabvia's King Abdulaziz International Airport (KAIA) has launched a survey to measure travellers' satisfaction levels with the recently renovated north and south terminals, Arab News has reported. The survey covers the suitability of roads leading to the terminals, car parks, handling of luggage, immigration desks, customs, security checks, food and screens displaying arrival and departure information. The results of the survey will be used to further develop airport services, the airp

  • KGL Investment and Bouygues bid for Aqaba port work

    Kuwaiti and French-led consortiums have bid to build the $700m new Red Sea port at Aqaba in Jordan.

  • Kharafi group launches Syria project

    Kuwait's Mohammed Abdulmohsin Al-Kharafi and Sons Co. (Al-Kharafi Group) has said that it has started construction works at the $217m Kiwan tourist project, downtown Damascus. The project consists of a hotel complex on a total area of 60 thousand square meters, which will include a five-star hotel with 500 rooms and suites, international business facilities, entertainment, medical, sporting and shopping centres, and a park, director of Damascus tourism department Faisal Najati has said.

  • Kingdom Holding profits drop 83 per cent

    Saudi Arabia's Kingdom Holding, the investment vehicle of Prince Alwaleed bin Talal, suffered an 82.8 per cent fall in second-quarter profits compared with the same period in 2008.

  • Kingdom Installment Company repays $18m sukuk

    Saudi Arabia's Kingdom Installment Company (KIC) has repaid its $18m sukuk that was issued in 2006 and had been due to mature in 2020.

  • Korea's Amco wins Libyan housing contract

    South Korea's Amco has won a $420.5m contract to build public housing in Libya.

  • Kurdistan opens Erbil oil refinery

    Iraq's Kurdistan Regional Government (KRG) has opened an oil refinery in Erbil with capacity of 75,000 barrels a day (b/d) of oil from the Khurmala Dome field.

  • KUSTAR inks five-year deal to establish Internet network

    The Khalifa University of Science, Technology and Research has signed a five-year agreement with Emirates Telecommunication Corporation (Etisalat) to establish the Emirates Advanced Network for Research and Education, a dedicated advanced network connecting academic and research institutions at speeds typically many times faster than commercial Internet. The network features 10 Gbps core network, 1 Gbps connectivity for end users, and IPv6 fully compliant network. The networks' first stage wo

  • Kuwait awards nitrogen pumping deals to US firms

    Kuwait has awarded contracts worth a total of KD79.84m ($278.59m) to two US firms for the supply of nitrogen pumping equipment and services.

  • Kuwait delays bids for Al-Zour North water plant

    Kuwait's Electricity & Water Ministry has delayed the bid deadline for a project to build a drinking water complex at Al-Zour North to 8 September.

  • Kuwait delays bids for Jahra road project

    Kuwait's Public Works Ministry has extended the closing date for bids to upgrade Jahra road, west of Kuwait City, to 8 August.

  • Kuwait delays production at Shuaiba plant

    The Kuwait Styrene Company is in talks with its customers after delaying the start of production at its new petrochemicals plant at Shuaiba.

  • Kuwait extends bid deadline for Jahra road upgrade

    Kuwait's Public Works Ministry is extending the closing date for bids to upgrade Jahra road, west of Kuwait City, to 1 September.

  • Kuwait issues tender for power transmission deal

    Kuwait's Electricity & Water Ministry has issued a tender for the contract to supply and install overhead transmission lines across the country.

  • Kuwait may privatise some departments

    Major General Mahmoud AlÙ€Dousari, Assistant Undersecretary for Kuwait's Traffic Affairs department has said the country's ministry of interior plans to privatise some of its departments in order to relieve the financial burden on the state and to make more manpower available in the security and traffic law enforcement sectors, Kuna has reported. The privatisation would include the maintenance and inspection of small cars that precede the renewal of vehicle licensing, as well as parking lots,

  • Kuwait Oil Company plans $7bn drilling platform tender

    Kuwait Oil Company (KOC) plans to tender a $7.2bn contract to supply 27 oil and gas drilling platforms as part of a strategy to increase oil production capacity in the emirate by 1 million barrels a day (b/d) over the next 10 years.

  • Kuwait passes budget with $17bn deficit

    Kuwaiti lawmakers have approved the country’s budget for 2009-2010, which was passed by emiri decree in March and projects a current account deficit of KD4.9bn ($17bn) for the year.

  • Kuwait to offer stakes in transport projects

    Kuwait plans to auction stakes in three transportation system projects worth up to KD1.5bn next year, reported Gulf News. The government had approved the projects to develop the country's first railway and monorail systems. For each company formed, a 26% stake will be offered in an auction for local or international investors. The government will own a 24% stake, and the remaining 50% will be offered to Kuwaiti investors.

  • Kuwait's ALAFCO earns $28.8m in nine months

    Kuwait-based Aviation Lease and Finance Co. (ALAFCO) has reported earnings of KD8.3 million ($28.8m) between October 2008 and June 2009. Assets had reached KD339 million, while shareholders' rights had grown 33% to KD93 million, the firm's Chairman Ahmad Alzabin has said. ALAFCO offers a variety of consultative services in relation to aircraft acquisition and disposal, lease management and technical monitoring.

  • Kuwait's Alafco increases profits

    Aviation Lease & Finance Company (Alafco) his announced net profits of KD8.3m ($28.9m) for the first nine months of the financial year, an increase of 8 per cent compared to 2008.

  • Kuwait's inflation falls to 5.9 per cent

    Inflation in Kuwait fell to 5.9 per cent in February from 6.8 per cent in January, according to official data.

  • Lafarge to finalise $280m syndicated loan in Egypt

    French building materials group Lafarge is set to finalise a $280m syndicated loan for its Egyptian operations in early August, according to bankers close to the company.

  • Larsen & Toubro bids low for Oman substation

    India's Larsen & Toubro is the low bidder for the contract to build a new substation in the Misfah area of the Muscat Governorate in Oman.

  • Lease rates for UAE chartered flights drop 50%

    The cost of chartering jets in the UAE has dropped substantially due to the financial crisis, as the number of executives travelling on private jets started to decline, Emirates Business has reported. Hourly rates for chartering private jets have almost halved, from $10,000 (Dhs36,700) per hour last year to $5,000 per hour.

  • Lebanon suffering from slow connectivity

    Lebanon's president of the professional computer association has said that many foreign investors are reluctant to establish businesses in the country due to the low speed of broadband connectivity which affects their production capacity, the Daily Star has reported. The maximum speed of broadband in Lebanon is 2 megabits for a monthly subscription of $199 while in France the rate for the 100 megabits speed is $141, Gabriel Deek has said. 'Slow broadband connectivity in Lebanon is behind the

  • Libya signs nuclear agreement with Canada

    Libya and Canada signed a memorandum of understanding to co-operate on nuclear energy on 29 July in Tripoli.

  • Limitless to build hotels in Ethiopia

    Dubai-based developer Limitless has been given a licence to build hotels in the Ethiopian capital Addis Ababa.

  • Limitless to build hotels in Ethiopia

    Dubai-based developer Limitless has received a licence to build hotels in the Ethiopian capital Addis Ababa, MEED has reported. The Addis Ababa City government has given the company a licence to build hotels and other business-related activities in the Kirkos district, with a total investment value of $294m.

  • Local firms bid low for Kuwaiti oil and gas deals

    Two Kuwaiti companies are the frontrunners to win five-year oil and gas facilities maintenance contracts worth a total of $232m in south and eastern Kuwait.

  • Logistics Village Qatar launched

    Gulf Warehousing Co. (GWC) has announced the launch of Logistics Village Qatar (LVQ), a one-stop centre for all supply chain and logistics requirements in the country. LVQ will cover an area of one million square metres and will be developed in three phases. It will be made up of 83,000 sqm of multi-purpose warehouses, 23,200 sqm of accommodation, and associated infrastructure works, GWC Chairman Mohammad Ismail Al Emadi has said.

  • Manama insists on funded bids for Muharraq wastewater plant

    Groups competing for the Muharraq wastewater treatment plant planned by Bahrain's Works Ministry have been told they must submit fully underwritten bids.

  • Masdar sets closing date for Abu Dhabi office bids

    Abu Dhabi Future Energy Company (Masdar) has set a 23 August closing date for commercial bids to build its new headquarters at the zero-carbon Masdar City development in Abu Dhabi.

  • Mashreq profits drop 38 per cent in second quarter

    The UAE's Mashreq reported a fall in profits of 38 per cent for the second quarter of 2009, with profits of AED435m ($118.4m) compared with AED706m in the second quarter of 2008.

  • Mashreqbank confirms legal proceeding against al-Gosaibi

    The UAE's Mashreqbank has confirmed it is in legal proceedings against Saudi Arabian conglomerate Ahmed Hamad al-Gosaibi & Brothers (Ahab).

  • Mass Global Investment wins Dohuk power plant work

    The local Mass Global Investment Company has won a $480m contract to build a power plant in the Dohuk province in Iraqi Kurdistan.

  • Mayfair to launch distressed property fund in Emirates

    Mayfair Wealth Management, based in the Cayman Islands, will launch a $50m UAE distressed property fund on 1 August to capitalise on falling real estates prices in the country.

  • Mecca monorail to be 35 per cent complete for Hajj in 2009

    Saudi authorities have indicated that 35 per cent of the $1.8bn Mecca monorail project will be completed in time for the 2009 Hajj pilgrimage.

  • Mergers and acquisitions to pick up in 2010, says MEED survey

    Mergers and acquisitions (M&A) activity will pick up in 2010, according to 75 per cent of respondents to a MEED survey.

  • Microsoft revenue down 17%

    Microsoft Corp, the world's largest software maker, has posted the first-ever drop in annual sales of Windows, and its quarterly revenue fell a steeper-than-expected 17% as its business continued to be hurt by the weak global PC and server markets, Reuters has reported. 'We still see conditions being challenging for the balance of this calendar year,' Microsoft's CFO Christopher Liddell has said.

  • Microsoft to offer web-based version of office software

    Microsoft Corp. has said it will offer a Web-based version of its popular Office software for free, as the software giant looks to battle free Web-based software from Google Inc. and increased competition from open-source products. The software giant has said that Office Web applications would be available through Windows Live, where more than 400 million consumers will get access to the Office Web applications for free. The company has also said it would cut the number of Office editions to

  • Microsoft to unbundle IE

    Microsoft has announced it has agreed to open up Windows to different internet browsers in order to fend off European Union litigation, AFP has reported. Under the plan, rival browsers including Firefox , Google's Chrome or Opera by Norway's Opera Software will now be placed before consumers at the point when they set up a new computer's operating preferences.

  • Microsoft, Yahoo to challenge Google

    Microsoft and Yahoo reached an agreement today to become search engine partners. Under the 10-year deal, Microsoft will integrate Yahoo search technology into its existing Web search platforms, while Microsoft's new search tool, Bing, will power Yahoo sites. Yahoo will also sell premium ads on both sites, and Microsoft and Yahoo will share revenue on traffic generated on Yahoo's network.

  • Middle East airlines post Q1 profit

    A new report by the the International Air Transport Association (IATA) says Middle East airlines managed to post a $291m profit in the first quarter of this year, while carriers outside the region suffered a $3bn drop in revenue in the same period due to falling demand. The slight profit the region posted in Q1 is well below the $1.69bn it registered during the corresponding period last year, IATA noted.

  • Middle East contracts awarded: April 2009

    Over $2.7bn worth of contracts were awarded across the Middle East region in April, according to this selected checklist compiled from MEED reports.

  • Middle East contracts awarded: February 2009

    Over $9.6bn worth of contracts were awarded across the Middle East region in February, according to this selected checklist compiled from MEED reports.

  • Middle East contracts awarded: January 2009

    Over $17.1bn worth of contracts were awarded across the Middle East region in January, according to this selected checklist.

  • Middle East contracts awarded: July 2009

    More than $24bn worth of contracts have been awarded across the Middle East up to 31 July 2009, according to this selected checklist compiled from MEED reports.

  • Middle East contracts awarded: June 2009

    Almost $12.7bn worth of contracts have been awarded across the Middle East up to 15 June 2009, according to this selected checklist compiled from MEED reports.

  • Middle East contracts awarded: March 2009

    Over $9.4bn worth of contracts were awarded across the Middle East region up to 31 March, according to this selected checklist compiled from MEED reports.

  • Middle East contracts awarded: May 2009

    Almost $4.5bn worth of contracts have been awarded across the Middle East in May 2009, according to this selected checklist.

  • Middle East sees 13% rise in air traffic

    A new report by the International Air Transportation reveals that Middle Eastern carriers recorded 13% growth in June compared to the same months a year ago as business on routes to Europe and Asia improved. The report also said the slump in global airline travel may have hit bottom in June, as worldwide traffic fell 7.2% from a year earlier, which was less severe than the 9.3% drop in May.

  • Mihin to link Kuwait, Sri Lanka

    Sri Lankan budget airline Mihin Lanka has begun the operation of flight routes between Kuwait and Colombo, via Dubai, according to Kuna. Kuwait's Directorate General of Civil Aviation has said that the Sri Lankan low-cost carrier would be operating three flights a week on Saturdays, Tuesdays and Thursdays.

  • Mina Zayed container shipments up 27%

    Abu Dhabi Terminals has reported 27% increase in the number of containers handled at Mina Zayed between January and June to 223,281, The National has reported. Imported consumer goods are on the rise, while car shipments fell with 19,809 vehicles shipped into Mina Zayed in the first half of the year, half the number shipped in a year ago.

  • Money supply in the UAE falls 14%

    The UAE’s money supply growth fell to 13.5 per cent in the second quarter, its lowest growth rate since the fourth quarter of 2003, according to data from the Central Bank of the UAE.

  • Moroccan inflation decreases

    Morocco’s inflation rate fell 0.9 per cent in the year to June, according to figures released by the state planning body.

  • Mubadala denies Olympic stadium project

    Abu Dhabi-based Mubadala Development Company says it is not developing a stadium at its Mina Zayed Waterfront project.

  • Mubadala invites firms to prequalify for Abu Dhabi university

    The local Mubadala Development Company has invited contractors to prequalify for the contract to design and build a campus for New York University Abu Dhabi on Saadiyat island.

  • Mubadala issues tenders for Rosewood Abu Dhabi hotel

    Abu Dhabi-based developer Mubadala Real Estate & Hospitality has invited prequalified companies to bid for the contract to build the Rosewood Abu Dhabi hotel on Sowwah Island.

  • Mubadala sets tender closing date for Cleveland Clinic

    State-run investment vehicle Mubadala Development Company has set a closing dates of 29 August for technical bids, and 21 October for commercial proposals for the estimated AED5bn ($1.36bn) main construction contract on the Cleveland Clinic project in Abu Dhabi.

  • Mumtalakat seeks advisers to rebuild Gulf Air

    Bahrain's sovereign wealth fund Mumtalakat has said it is seeking advisers to help it rebuild the business of state-owned carrier Gulf Air, Reuters has reported. The fund said the consultants would report to the airline's incoming Chief Executive Samer Majali, who is taking up his post on August 1 and who has been appointed to lead Gulf Air as it moves into the next phase of its strategy to rebuild the business.

  • Muscat requests proposals for Barka 3 and Sohar 2 power projects

    Oman Power & Water Procurement Company (OPWP) has issued a request for proposals for the planned Barka 3 and Sohar 2 independent power projects (IPPs).

  • Mushrif bids low on two government projects

    The local Mushrif Trading & Contracting Company is the low bidder for two government construction contracts in Kuwait.

  • Nakheel awards Port Rashid work to Dubai Civil Engineering

    UAE developer Nakheel has awarded Dubai Civil Engineering (DCE) an estimated AED60m ($16m) contract to design and build a cruise-ship terminal at its Port Rashid development in Dubai.

  • Nakheel considers new locations for the QE2

    Nakheel is considering new plans for the QE2 cruise ship that it had planned to renovate and moor alongside the Palm Jumeirah.

  • Nakheel lays off staff

    UAE developer Nakheel has laid off more staff because of its merger with Dubai World's other real estate companies.

  • Nakheel re-opens two prestigous hotels

    Dubai-based Nakheel Hotels announced today that it has re-opened the W Washington DC hotel and the historic Turnberry golf resort in the west of Scotland following extensive renovations to both properties. W Washington DC opened July 8 and is the first W Hotel to open in America's capital city. Originally built in 1888, the 317-room hotel recently completed an 18-month, $100m renovation. Turnberry, a Luxury Collection Resort, opened on July 9 and will host The Open Championship for the fourth

  • Nakilat takes delivery of Q-Flex carrier

    Qatar's Nakilat has taken delivery of 'Al Kharaitiyat', a Q-Flex carrier, which was built at the Hyundai Heavy Industries shipyard in Ulsan, South Korea. The new carrier will be used to ship LNG produced by Qatargas 3, to markets primarily in the US. Qatargas 3 shareholders are Qatar Petroleum, ConocoPhillips and Mitsui & Company.

  • Nas Air adds new routes

    Saudi Arabia's budget carrier Nas Air has launched new routes to two Egyptian cities, Sharm El Sheikh and Assiut. With the two new destinations, Nas Air now serves nine destinations abroad, including Amman, Damascus, Beirut and Abu Dhabi.

  • Nas Air international flights rise 50 per cent

    Nas Air revealed it flew 50 per cent more international flights during the first half of 2009 compared to the same period in 2008.

  • National Bank of Bahrain profits fall 3.6 per cent

    National Bank of Bahrain's net profits fell 3.6 per cent during the second quarter of 2009.

  • National Bank of Kuwait reports $439m profit

    National Bank of Kuwait has reported a net profit of KD126m ($439.2m) for the first half of 2009, saying that good risk management and a conservative approach to investing have helped it to maintain profits.

  • National Commercial Bank profits drop 37 per cent

    Saudi Arabia's National Commercial Bank (NCB) profits fell 37 per cent fall during the second quarter to SR1.2bn ($317.3m), compared with SR1.8bn in the same period a year ago.

  • National Contracting to build Abu Dhabi substation

    Saudi Arabia's National Contracting Company (NCC) has won a contract to build a new 400kV substation at Silla in western Abu Dhabi.

  • National Petrochem gets loan approval

    Saudi Alujain has announced its subsidiary, National Petrochemical Company (Natpet), has received the Saudi Public Investment Fund's (PIF) approval to get an additional $75m financial loan aimed at financing its propylene and polypropylene complex located in Yanbu, on the western coast of the Kingdom, the Saudi Gazette has reported. The loan will be used to finance the additional charges arising from the delay of the construction of the propylene plant which is the feedstock of the polypropyl

  • National River Transportation Company secures loan for Nile barges

    Egypt's National River Transportation Company (NRTC) has secured a£E325m ($58m) syndicated loan from three local banks to assist in financing the purchase of 90 new barges for use on the Nile.

  • New company to support GCC navies

    A new Abu Dhabi-based company has been formed that will offer a complete range of support services to maritime defence forces and other vessel operators in the GCC. Gulf Logistics and Naval Support is a joint venture launched by Abu Dhabi Ship Building and the UK's BVT Surface Fleet.

  • Noor Islamic set to strengthen balance sheet

    Dubai's Noor Islamic Bank is to convert its government deposits to tier 2 capital to help strengthen its balance sheet.

  • Norwegian firm raises output from Iraqi oil field

    Norway's DNO International says output from the Tawke oil field in Iraq's Kurdistan region reached 13,723 barrels a day (b/d) in June.

  • Oil price rebounds

    Oil prices reached seven-week lows before rebounding slightly to about $61.50 a barrel during the week ended 9 July, as new data pushed prices down.

  • Oil price rebounds to $60 a barrel

    Crude oil contracts in the US and Europe traded below $60 a barrel for the first time since May this week, before pushing back above what analysts see as a psychological barrier for traders.

  • Oil price rises after market stabilises

    The oil price continued to rise during the week ended 22 July as pessimism over economic recovery faded, and contracts moved back to what analysts see as a comfortable range of $65-75 a barrel.

  • Oil prices edge up

    Crude oil prices approached seven-month highs during the week ending 30 July.

  • Oki inks Saudi distribution deal

    Oki Printing Solutions has announced the appointment of Al Eqtessad Machines Division as its distributor in Saudi Arabia. Under the agreement, Al-Eqtessad Machines Division will provide sales and service support for the OKI brand of printers, copiers, scanners and fax machines in Saudi Arabia. Al-Eqtessad MD has offices in Dammam, Riyadh and Jeddah.

  • Oman awards another road contract

    The Transport and Communication Ministry has awarded the local Desert Line Projects a RO23m ($59.4m) contract to build the road between Argoutt and Sorfait in the Dhofar governorate near the Yemeni border in the south of the Sultanate.

  • Oman to issue Darsait wastewater plant tender

    Oman's Haya Water intends to issue a tender in August for the construction of a new wastewater treatment plant at Darsait in the Muscat governorate.

  • Oman's cement prices expected to rise

    Oman's cement prices are expected to rise in the latter half of the year thanks to $8bn worth of state projects awarded in the second quarter, including the expansion of Muscat airport and a highway, industry experts and analysts told Reuters. Oman's two cement producers had lowered prices up to 40% in early 2009 in the wake of the global financial crisis as construction of private homes and corporate expansions eased.

  • One big step for Virgin Galactic

    As the world reflects back on the 40th anniversary of man landing on the moon we take a step into the future to look at space tourism with Will Whitehorn, President, Virgin Galactic and Phil Blizzard talking about the Virgin Galactic project.

  • Panasonic launches new SDHC memory cards

    Panasonic has announced the launch of new secure digital high capacity memory cards with class 10 speed specifications. The new gold series of SDHC cards offer more than 12 hours of continuous high definition recording, and are capable of functioning in temperatures ranging from -25'C to +85'C, the company said.

  • PC shipments down 11%

    IDC Middle East and Africa has said the personal computer (desktops, laptops excluding netbooks) shipments across the Gulf region had dropped 11.47% to 874,447 units during the first quarter of 2009. The total value of the sales was $869.63m, a drop of 9.57% compared to $961.6m in the first quarter of last year, IDC has said. However, there was 15% growth is the sales of Netbooks. The UAE market was the weakest in the region, followed by Kuwait, while Saudi Arabia and Egypt performed better t

  • Petrobras hits Libyan oil well snag

    Brazilian oil major Petrobras and Australian energy firm Oil Search have been forced for a second time to bypass an obstruction in their first offshore well in Area 18 of Libya.

  • Petrofac secures Omani gas package

    UAE-based Petrofac has won a $350m contract on Petroleum Development Oman's Kauther gas field depletion project.

  • Petroleum Development Oman extends tender deadline

    Petroleum Development Oman (PDO) has extended the prequalification deadline for four long-term services contracts worth up to $150m a year.

  • Pharos initiates coverage on Ezz Steel

    Pharos Research has initiated coverage of Egypt's Ezz Steel with a 'hold' rating, Reuters has reported. The brokerage firm said that while it expects the remainder of 2009 to be difficult, the company's ongoing business expansion should create a more efficient operation thereafter as steel price and demand recovers.

  • Prequalification starts for seawater intake system at Khalifa

    Abu Dhabi Ports Company (ADPC) has invited firms to prequalify for a contract to build a seawater intake system at Khalifa Port & Industrial Zone at Taweelah.

  • Punj Lloyd wins Libyan housing contracts

    Libya's Housing & Infrastructure Board has awarded India's Punj Lloyd three contracts worth a total of $392m.

  • Qassim Cement Q2 net profit dips 2.4%

    Saudi-based Qassim Cement Co. has posted a 2.4% drop in its second quarter net profit, blaming a price fall after the kingdom imposed an export ban, Reuters has reported. The company made a net profit of SR148.2 million ($39.52m) in the three months to June 30, compared with SR151.9 million a year earlier. A government ban on exports imposed in June last year, along with the introduction of new production facilities in the Saudi cement market has led to an oversupply in the local market that

  • Qatar Airways invites tenders for crew accommodation buildings

    Qatar Airways has invited contractors to bid by 30 July for a contract to build a crew accommodation building in Doha.

  • Qatar Airways to open Houston office

    Qatar Airways has said it will open an office in Houston, Texas, to complement the airline's flights between the US city and Doha which started in late March. The new office, located in the Houston Pavilions in the city's central business district, will officially open on July 27.

  • Qatar electricity firm makes 19 per cent profit

    Qatar Electricity & Water Company (QEWC) made a net profit of QR415m ($115m) in the six months to 30 June, marking an 18.9 per cent increase from QR349m for the same period in 2008.

  • Qatar forecasts 787 delivery by end of 2011

    Qatar Airways CEO Akbar Al Baker said the airline expects to receive its first four Boeing 787 Dreamliners by the end of 2011, Reuters has reported. He also said he was told Qatar would get all 30 of its firm orders delivered by 2015.

  • Qatar IT skills course launched

    ICDL GCC Foundation, the governing body and certification authority of the International Computer Driving Licence (ICDL) programme in the Gulf region and Iraq has launched its 'IT Skills for All' initiative in Qatar. The Foundation has urged the government and private sectors to support efforts to increase the number of computer training facilities for people with special needs. 'We aim to establish new strategic alliances in order to expand the scope of our initiative to reach more people wi

  • Qatar launches major European expansion

    Qatar Airways has announced plans to increase the number of weekly flights between Doha and Paris from 11 to 14, making it a twice daily service, from October 25. Furthermore, services to Madrid, the only one between the Gulf and Spain, will be increased from four a week to daily from December 2, while the carrier's service to Athens will be increased from a current daily flight to two a day by March 2010. Stockholm will also see its frequency increased from three to four a week from October

  • Qatar National Bank profits rise 11 per cent

    Qatar's largest bank, Qatar National Bank, said that in the first half of 2009, its profits hit QR2.1bn ($576m), an increase of 11.3 per cent compared to the same period in 2008.

  • Qatar National Cement posts slight H1 profit

    Qatar National Cement Co has reported less than 1% rise in its first-half profit, Bloomberg has reported. Net income had climbed to QR253.3 million ($70m) from QR251.9 million in the year-earlier period, the firm said.

  • Qatar Petroleum requests bids for Mesaieed platforms

    Qatar Petroleum (QP) has requested bids from contractors for an engineering, procurement, installation and commissioning (Epic) deal covering platforms at the company's Mesaieed refinery.

  • Qatar Shipping, Navigation merger 'on track'

    Qatar Navigation and Qatar Shipping Co. have said that the evaluation process of the proposed merger of the two companies, as announced on the Qatar Exchange on May 7, 2009, has begun and is proceeding on track. HSBC Bank Middle East has been appointment as investment bank advisor and lead consultant to evaluate and advise on the potential merger, the two companies have said.

  • Qatar takes over Polish shipyards

    The Polish Treasury Minister Aleksander Grad has named QInvest, Qatar's largest investment bank, as the buyer of two state-owned shipyards which had faced bankruptcy amid a long-running row with the European Union over illegal state aid. The Qatar Islamic Bank will guarantee the transaction, he said. Grad has also said that a new company called Polskie Stocznie will now be set up to run the operations of the two shipyards together.

  • Qatar to offer mobile comms from October

    Qatar Airways will begin offering limited in-flight mobile communication services in October as part of a new programme with OnAir, which gives passengers the ability to use their mobile phones as well as access emails and the internet, CEO Akbar Al Baker, has said. The first aircraft to be equipped with the Mobile OnAir system is an Airbus A320, while the carrier's entire fleet will be equipped by 2014, he said. However, the airline will 'definitely' not allow the use of mobile phones at nig

  • Qatar, Boeing meet over 787 delays

    Akbar Al Baker, CEO of Qatar Airways has met with Boeing officials to discuss the latest delays to the Boeing 787 programme, and possible changes to the carrier's 787 delivery schedule that could result in deliveries from 2011. 'The meeting is at their request because they are now concerned which way Qatar Airways will go,' Al Baker has said. 'They are taking a very proactive stand with Qatar Airways.'

  • Qatargas set to start gas production at from train 5 unit

    Qatargas expects to start processing gas from its train 5 liquefied natural gas (LNG) unit in the near future.

  • Rabat delays bid deadline for Safi power plant

    Morocco's Office National de l'Electricite (One) has delayed the bid deadline for its project to build a coal-fired power plant at Safi on the Atlantic coast until the end of October.

  • Ras al-Khaimah appoints French and UK banks for sukuk issue

    The emirate of Ras al-Khaimah has mandated France’s BNP Paribas and the UK’s Standard Chartered Bank to act as arrangers on a dollar-denominated sukuk issue.

  • Ras al-Khaimah prices five-year sukuk

    The emirate of Ras al-Khaimah has set a guide price for a five-year sukuk issue at up to 8.25 per cent.

  • RasGas prepares to price $2.3bn bond

    Qatar's Ras Laffan Liquefied Natural Gas Company (RasGas) is expected to price a $2.3bn bond on 16 July, after receiving offers totalling about $10bn, according to bankers close to the deal.

  • Rasgas set to start train 6 production

    Qatar's Ras Laffan Liquefied Natural Gas Company (Rasgas) says it expects to start production of liquefied natural gas (LNG) from train 6 by the end of July.

  • Ratings agency downgrades Dubai banks

    US ratings agency Standard & Poor's (S&P) has downgraded four Dubai-based banks as a result of the slowdown in the emirate's economy.

  • Riyad Bank reports rise in profits

    Saudi Arabia's Riyad Bank has reported second-quarter net profits of SR918m ($244.8m), an increase of 1.3 per cent on the same period in 2008.

  • Riyadh combines Marafiq and Saline Water projects in Yanbu

    Saline Water Conversion Corporation (SWCC) and the Power & Water Utility Company for Jubail & Yanbu (Marafiq) will go ahead with a joint project at Yanbu, said Abdullah al-Hussayen, the Minister for Electricity & Water on 14 July.

  • Riyadh recommends changing airline's privatisation strategy

    Saudi Arabia's Shura Council has recommended privatising Saudi Arabian Airlines (Saudia) in a single initial public offering (IPO), rather than continuing with the current policy of selling the individual units of the airline.

  • Riyadh signs $2.6bn border fence deal

    The Saudi government has signed a SR10bn ($2.6bn) contract for the 6,000-kilometre second phase of the national border fence and security system.

  • Riyadh signs Rabigh power plant agreements

    A team of the local Acwa Power International and Korea Electric Power Corporation (Kepco) has signed a series of agreements with Saudi Electricity Company (SEC) to build the planned SR9.3bn ($2.5bn) Rabigh independent power project (IPP).

  • Riyadh starts petrochemicals production at Yanbu

    Saudi Arabia's Yanbu National Petrochemical Company (Yansab) has started production at its new petrochemicals complex at Yanbu Industrial City.

  • Rizon consolidates in Doha

    Middle East charter and aircraft management operator Rizon said it is consolidating its operations at its new Doha, Qatar headquarters. 'We are reducing the size of our Bahrain and Sharjah offices to consolidate our back office and administrative functions in our new headquarters in Qatar,' confirmed Rizon Group CEO Will Curtis. The move underlines Rizon's commitment to Doha, where it is constructing a brand new 120,000 sq ft hangar and fixed base operation at Doha International Airport, due

  • RJ first half net profit rises

    Royal Jordanian has recorded around JD7.7m in net profit during the first half of this year, compared to JD4m during the same period last year, Jordan Times has reported. The carrier's gross profit had reached around JD19m, against an operational loss of around JD3m for the comparison period. However, revenues had declined by 12.7% to JD274m, from JD314m the airline had earned in the first half of last year.

  • Rotana opens Syrian resort

    Middle East based hotel management company Rotana has announced the soft opening of its five-star property in Latakia, Syria. The Afamia Rotana Resort offers 246 guestrooms including one, two and three suites, and 14 beach cabins. The beachfront property is located on a peninsula, 2km from Latakia city centre, with an easy distance of Syria's historical sites including Ugarit Canaaite, seaport, Crusaders forts and castles and ancient Roman vestiges.

  • Royal Jet enters Saudi market

    UAE-based Royal Jet has signed a commercial and operational alliance agreement with Saudi Arabia-based Arabian Aircraft Services that will make Royal Jet's business aviation services available in the kingdom. Under the terms of the agreement, Royal Jet will be positioning a Boeing Business Jet and a Gulfstream 300 at Arabasco's hubs in Jeddah and Riyadh to better serve the Saudi market, together with crew, full operations team and all necessary supporting logistics.

  • Royal Jet reports 15% rise in charter business

    Abu Dhabi-based Royal Jet says it has recorded a 15% increase in charter bookings over the summer period compared to the same period last year. The company says there is strong demand within the GCC, with a steady stream of bookings from Qatar and, especially, Saudi Arabia, where it recently set up an alliance with Arabasco. Its charter business is also getting a boost from a new pricing policy that it introduced in the Gulf a few months ago, under which Royal Jet prices the charter from wher

  • Royal Jordanian approves fuel purchasing strategy

    Royal Jordanian has approved a new fuel purchasing strategy for the next three years, in one of chief executive officer (CEO) Samer Majali's final business before he leaves the company.

  • Royal Jordanian brings in revenue mgt system

    Royal Jordanian has announced it has adopted the Group Revenue Management System, licensed by PROS, an initiative toward automating its processes and meeting the increasing demand on group bookings, particularly during the high seasons. The internet-based system performs real-time group-booking acceptance, group management, decision making and pricing. The system will also distribute passengers on multiple flight options, reducing cost and increasing profitability.

  • Royal Jordanian names Hussein Dabbas as new chief executive

    Royal Jordanian has appointed Hussein Dabbas as president and chief executive officer to succeed Samer Majali, who is leaving to run Bahrain-based Gulf Air.

  • RPC eyes Middle East expansion

    RPC Group, a UK-based manufacturer of plastic bottles for Nivea sun cream, said it may expand in the Middle East within two years to take advantage of lower labour and polymer costs, Bloomberg has reported. The region is 'significantly' cheaper than Western Europe for electricity, labour and raw materials, RPC's CEO Ron Marsh told the news service, adding the specific costs are still being determined.

  • Rubber plant starts output in Saudi

    Armacell Zamil Middle East Company (AZMEC), a joint venture between Zamil Industrial Investment Company and Armacell International Holding of Germany, has said its new factory in Dammam, Saudi Arabia, has begun its commercial production of technical rubber insulation materials. The joint venture will market its production locally, as well as regionally through a network of sole distributors.

  • Sabb profits drop 15 per cent

    Saudi bank Sabb reported a 15 per cent fall in profits during the second quarter of 2009, with profits dropping to SR676m ($180.5m) from SR795m in the same period of 2008.

  • Sabic outperforms rival petrochemicals producers

    Petrochemicals giant Saudi Basic Industries Corporation (Sabic) has outperformed its international rivals in the second quarter of 2009, despite a 76 per cent drop in profits compared with the same period in 2008, according to Bahrain-based investment bank Sico

  • Sabic Q2 profit drops 76%

    Saudi Basic Industries Corp (Sabic) has posted a 76% drop in second-quarter net profit, attributing the results to the drop on lower petrochemicals and metals prices, Reuters has reported. Net profit has reached SR1.81bn in the three months to June 30, 2009 down from SR7.55bn during the previous year.

  • Sabic reports increase in profits

    Saudi Basic Industries Corporation (Sabic) returned to profitability in the second quarter, with net profits of SR1.8bn ($480m).

  • Sabic seeks steel export licence

    Mutlaq al-Morshed, Vice President of Saudi Basic Industries Corp (SABIC) has told the Arabic daily Al-Watan the company is in negotiations with the government to obtain a license to export steel, Reuters has reported. The Saudi government has lifted a ban this month imposed on steel exports last year.

  • Sabic to boost its petrochemical production

    Saudi Basic Industries Corp (Sabic) plans to boost petrochemical production by 12 million tons over the next two years by expanding foreign ventures and domestic plants. The increase will mainly come from a joint venture with China Petroleum & Chemical Corp., or Sinopec, and from the Yanbu and Asharq facilities in Saudi Arabia, Chairman Prince Saud bin Abdullah Bin Thunayan Al-Saud said yesterday at a press conference.

  • Sabic, Exxon push petrochem project

    Saudi Basic Industries Corp. (Sabic) and Exxon Mobil Chemical are looking to drum up interest from bidders for a new petrochemical project, Reuters has reported citing contracting sources. Sabic and Exxon Mobil's chemical unit signed a preliminary agreement in November to establish the multi-billion dollar synthetic rubber joint venture at their plants in Jubail and Yanbu. The two companies would issue bid packages for the Jubail plant by the end of the year, Saudi-based contracting sources s

  • Sabic, Exxon to expand plants

    Saudi Basic Industries Corp (SABIC), the world's largest chemicals manufacturer, has reiterated a plan to expand two Saudi Arabian petrochemical ventures that it runs with Exxon Mobil, Bloomberg has reported. The partners had announced a plan to study expanding the Saudi Yanbu Petrochemical Co (Yanpet) and the Al Jubail Petrochemicals Co (Kemya) ventures in November 2006. Sabic has said it was 'pleased' with the progress on the projects and that further details on the schedule are 'confidenti

  • Sabic, Sinopec JV cost up 20%

    Saudi Basic Industries Corp. (Sabic) has said that a 20% increase in the estimated cost of the Sinopec joint venture was due to the expanded scope of the petrochemicals plant, Reuters has reported. Sabic had earlier announced that the cost of the project was now estimated at $3bn, 20% more than the amount projected in June.

  • Safco profits fall 60 per cent in second quarter

    Net profit at Saudi Arabian Fertiliser Company (Safco) fell 60 per cent to SR480m ($128) in the second quarter of 2009 on the back of lower prices for fertilisers, the company said in an 11 July statement.

  • Safco Q2 profit down 60%

    Saudi Fertilizers Co (Safco) has reported a 60% drop in its second-quarter net profit, an 8.6% decline compared to the first quarter, Reuters has reported. Safco has made a net profit of SR480m ($128m) in the three months to June 30, compared with SR1.19bn a year earlier. Operating profit in the second quarter was SR438m, down 59% compared to the year-earlier period. The company will give shareholders an SR5 dividend for the first half of 2009, the company has added.

  • Saipem cuts $140m in revenues on Manifa oil field project

    Italy's Saipem, parent company of Snamprogetti, has cut its projected revenues on a construction deal at the Manifa oil field by $140m after renegotiating costs with the client Saudi Aramco, according to its half-year results.

  • Saleh starts building Dubai Lifestyle City

    The local Saleh Construction has started construction on Dubai Lifestyle City in Dubailand.

  • Samba reports increase in profits

    Saudi Arabian bank Samba has reported a 1.6 per cent increase in profits during the three months to the end of the June, with profits rising to SR1.24bn ($330m) during the period from SR1.22bn a year earlier.

  • Samsung enters Kuwait notebook PC market

    Samsung Gulf Electronics has launched in Kuwait its new notebooks and mini notebooks X460, N120 and N310 for the first time. The X460 incorporates the all new Intel Centrino 2 processor technology with NVIDIA GeForce Go 9200M GS graphics card, a 14.1" screen, extended wireless mobility and enhanced power-saving features. The N120 and N310, although slim at just 10.1", is designed for optimum usability and performance, with its full-size 12" notebook style keyboard, enhanced sound system, larg

  • Samsung to build air separation plant in Saudi Arabia

    South Korea's Samsung Engineering has won a $300m contract to build an air separation plant in Saudi Arabia, adding to the firm's order book after it secured Jubail export refinery work in June.

  • Samsung to renovate Skikda refinery

    South Korea's Samsung Engineering has signed a $2.6bn contract to upgrade Algeria's Skikda refinery, according to a company statement on 6 July

  • Samsung unveils NVIDIA 3D Vision

    Samsung Electronics together with NVIDIA, have announced the launch of 3D Stereoscopic technology in the Middle East. The bundled 3D kit comprises a Samsung 2233RZ monitor, NVIDIA high-tech wireless glasses, a high-power IR emitter and advanced software, which combined form a new consumer 3D stereo ecosystem for gaming and home entertainment PCs, the companies said. The 2233RZ, in conjunction with NVIDIA's software, automatically converts over 350 games to stereoscopic 3D without the need fo

  • Samsung wins $300m Saudi contract

    Saudi Arabia's National Industrial Gases Co, a subsidiary of Saudi Basic Industries (SABIC), has awarded Samsung Engineering a $300m contract for an air separation plant, Reuters has reported. The plant, located in Al-Jubail, Saudi Arabia, will produce gaseous oxygen, nitrogen and argon from 2011, Samsung said.

  • Saudi allows steel exports to resume

    Saudi Arabia has given local steel manufacturers licences to export the metal after a ban was lifted this month, a Ministry of Trade and Industry spokesman told Reuters. However, a ban on exporting scrap metals remained in place because the ministry believed local demand was still unfulfilled, the spokesman said. Saudi Arabia, the largest Arab economy, imposed a ban on steel exports last year to protect local consumers in the kingdom as domestic prices of the metal soared.

  • Saudi Arabian Airlines to appoint 32 executives

    Saudi Arabian Airlines (Saudia) has received approval for a new management structure and includes appointing 32 new executives.

  • Saudi Aramco and Shell formulate Kidan gas plan

    Saudi Aramco and the UK/Dutch Shell Group are to submit a plan to the oil ministry to develop the Kidan gas structure in the Rub al-Khali (Empty Quarter) following drilling work.

  • Saudi Aramco awards Jubail refinery deals

    Saudi Aramco and French oil major Total have signed 13 engineering, procurement and construction (EPC) contracts for their 400,000 barrel-a-day (b/d) joint venture export refinery at Jubail.

  • Saudi Aramco set to award oil plant work

    Saudi Aramco plans to award a $300m contract in the first week of August to expand 13 bulk plants that serve as oil distribution points across the kingdom.

  • Saudi Electricity profits fall 8 per cent

    Saudi Electricity Company's (SEC) profits have fallen 8 per cent in the quarter to 30 June, according to a company statement issued to the Saudi Stock Exchange.

  • Saudi Electricity to sign power purchase agreement

    Saudi Electricity Company (SEC) will sign a power purchase agreement with the developers of the Rabigh independent power project (IPP) on 11 July.

  • Saudi exporters slam China over dumping probe

    Chairman of the Council of Saudi Chambers, Abdulrahman al-Zamil, has said China had no grounds to pursue the dumping investigation on imports of methanol and butanediol (BDO) it had launched in late June. He said that Saudi exporters feared China would impose punitive tariffs on the two products from Saudi Arabia, Indonesia, Malaysia and New Zealand while a lengthy investigation goes on at the request of several Chinese producers. 'The damage will take place while they are studying it for one

  • Saudi exposure to defaulting firms is manageable

    Gulf bank exposure to two defaulting Saudi Arabian family conglomerates is "significant but manageable" according to ratings agency Standard & Poor's (S&P).

  • Saudi family groups owe banks $15bn

    Saudi Arabian family groups Saad Group and Ahmad Hamad al-Gosaibi & Brothers (Ahab) owe regional and international banks $15-16bn according to Egyptian investment bank EFG-Hermes.

  • Saudi firm in $3bn Turkey investment

    Saudi-based private firm, Planet Food World (PFWC) will invest around $3bn to build 20,000 industrial farms in Turkey over the next five years to export food products to the Gulf region, the Saudi Press Agency has report. Turnover from the activities may be in the range of $20bn in five years for the agricultural goods, and could go higher when additional planned food and animal-processing plants are functioning, head of PFWC's Turkish unit, Mete Mutluoglu has said.

  • Saudi hotels to be classified by year end, says SCTA

    The Saudi Commission for Tourism and Antiquities has said that final classification of hotels will be announced by the end of 2009, the Saudi Gazette has reported. SCTA has started specifying the class of each hotel according to the new criteria based on the stars system implemented worldwide. A grace period has been given to all hotels to rectify their situations or accept their new classifications. SCTA has also started executing the same plan for evaluation and classification of furnished

  • Saudi inflation falls to 5.2 per cent

    Inflation in Saudi Arabia has fallen to 5.2 per cent in June as rental costs and food prices eased, according to data from the Saudi Arabian Monetary Agency (Sama).

  • Saudi joint venture to win North-South rail contract

    A Saudi joint venture will be awarded the $720m contract to build the fourth section of the North-South minerals railway in early August.

  • Saudi may delay landbridge rail project

    Saudi Arabia may delay the $7bn landbridge project to link the east and west coasts of the kingdom by rail, amid speculation the government will step in to wholly fund the plan instead of opting for an initial 50-year build-operate-transfer deal financed through debt, Meed magazine has reported. Asciano, the ports and rail owner spun-out of Toll Holdings, and its seven Saudi Arabian partners who make up the Tarabot consortium, have been selected as the preferred bidder to deliver the project.

  • Saudi money supply slows in June

    Money supply in Saudi Arabia, an indicator of future inflationary pressure, slowed to 16.4 per cent in June, from 16.9 per cent in the previous month, according to the Saudi Arabian Monetary Agency (Sama).

  • Saudi team takes Microsoft Accessibility award

    A team from Saudi Arabia has won first place in the Accessibility Achievement category in the Microsoft-run Imagine Cup. Open to students from around the world, teams entering this particular category were challenged to design a technology that used people's diverse physical and cognitive abilities. The annual Imagine Cup is not a venture capital competition, rather entrants are told to come up with ideas to solve a diverse range of problems, whether or not they are a viable business product.

  • Saudi tourism income surges

    Saudi Arabia's total tourism income in 2008 was SR78.5 billion, of which the food services sector had the largest portion of this income, of 42.4%, Saudi Gazette has reported. The kingdom's transport sector had received 35.2% of the income, followed by the accommodation sector with 16.3%, with travel agencies at 1.5% and finally the entertainment sector with 4.6%, the paper has said.

  • Saudi tourism to get SR41m boost

    The Saudi Commission for Tourism and Antiquities (SCTA) has approved contracts worth SR41.1m for a variety of schemes to promote tourism and improve tourist services in the second half of 2009, the Saudi Gazette has reported. The schemes include the introduction of technological support at the SCTA, museum and archaeological site maintenance work in Al-Jouf, the Northern Border province and the southern region, and consultancy work for the school of tourism education project. Other contracts

  • Saudis plan $2.4bn Medina airport expansion

    Saudi Arabia plans to award a 'build-operate-transfer' contract to expand Prince Muhammad bin Abdul-Aziz International Airport in the city of Medina, at a cost of $2.4bn, the Arabic Al-Eqtisadiah newspaper has reported. The expansion will increase the airport's capacity from 3 million passengers to 12 million passengers per year, the airport's managing director Abdulfattah Atta said. The new terminal is expected to be completed within a period of four years.

  • Saudis plans quick IPO for carrier

    The transport and telecommunications committee of Saudi Arabia's Shura Council has recommended an initial public offering for flag carrier Saudi Arabian Airlines instead of the gradual sell off of its units in a privatisation effort, Reuters has reported. The council has also recommended that Saudia diversify its aircraft fleet to better serve domestic destinations, where the firm competes with private low-cost carriers. The airline had already sold to private investors a 49% stake in its cat

  • Savola profit drops 18%

    Saudi Arabia's largest food products firm by market value, Savola Group has reported a17.5% drop in second-quarter profit, on lower income and provisions for an investment in a listed property developer. Net profit of SR212.5 million ($56.7m) in the three months to June 30, compared with SR257.7m in the same period last year, the company said. Savola has projected third-quarter earnings would rise 58.2% from the same period last year, backed by growth in revenue from traditional sugar, edible

  • Schlumberger revenues fall despite strong Gulf order book

    US oil and gas engineering services firm Schlumberger's revenues in the Middle East and Asia fell 5 per cent in the second quarter of 2009 despite a large number of jobs booked in Gulf states.

  • Sete Energy wins Jubail wastewater expansion deal

    Sete Energy Saudia for Industrial Projects has won a contract for the expansion of a wastewater treatment plant from Power & Water Utility Company for Jubail & Yanbu (Marafiq).

  • Sharjah Airport inks facilities management deal

    The Sharjah Airport Authority has signed an agreement with Etisalat Facilities Management, a member of Etisalat Services Holding, to outsource facilities management operations for Sharjah International Airport. The five-year agreement aims to raise the quality of facilities management services being offered at the airport.

  • Shoaibi Group, GMS in offshore services JV

    Saudi Arabia-based Shoaibi Group and UAE-based Gulf Marine Services have formed a joint venture to provide offshore barge operation services. The new company, Gulf Maritime Services Saudi Arabia, will be based in Al Khobar, Saudi Arabia, and will provide floating or self-elevating offshore platforms, which will be used by oil companies for offshore well maintenance, construction and accommodation.

  • Shuaiba posts $2.5m profit in Q1

    Shuaiba Industrial Company, a Kuwait-based paper packaging manufacturer, said it posted a KD742,000 ($2.5m) net profit in the first half of this year, compared to KD1.7 million for the same period last year. Shareholders' rights in the first half of this year had amounted to KD12.8 million against KD14.2 million in the same period last year, while the firm's loans stood at around KD2 million.

  • Sinopec wins $150m oil drilling contract in Kuwait

    Chinese oil exploration and production firm Sinopec has won a SR43.6m ($150m) contract for the supply of drilling rigs to Kuwait Oil Company (KOC).

  • Sipchem and Hanwha to create Jubail petrochemicals firm

    Saudi International Petrochemicals Company and South Korea's Hanwha Chemicals Corporation have agreed to create a joint venture petrochemicals company which will operate at Jubail, Saudi Arabia.

  • Sodic to open Angsana Egypt resort

    Egypt's Sixth of October Development and Investment (Sodic) has announced that it has signed a deal to build an Angsana resort near Cairo with an estimated investment of $17.9m. The resort would include a 100-room hotel, a spa and clubhouse, and would cover more than 31,000 sqm in the high-end Allegria development west of Cairo. The resort is due to open in 2012 and would be managed by Banyan Tree Hotels and Resorts, a Sodic spokeswoman has said.

  • Some Abu Dhabi hotels to be downgraded

    Some Abu Dhabi hotels will have their star ratings downgraded under strict new classification rules being implemented in the emirate, reported The National. Within weeks, each hotel in the capital must display a plaque issued by the Abu Dhabi Tourism Authority (ADTA) showing its new rating, which will be determined by a long list of criteria. 'Some hotels have been downgraded,' Nasser al Reyami, the director of tourism standards at the ADTA said, declining to give details on how many and whic

  • Sonatrach plans to start Touat gas production in 2013

    Algerian state energy giant Sonatrach and France's GDF Suez plan to start commercial gas production at their Touat concession in 2013, according to a statement released by the two companies on 7 July.

  • Sony to acquire Seiko Epson's LCD operations

    Sony Corp said plans to acquire part of Seiko Epson Corp's small and medium-sized LCD operations by April 2010 for free. Earlier this year Sony said it would start talks with Seiko Epson on an alliance in small LCDs and was interested in Seiko Epson's technology and output capacity of amorphous silicon thin-film transistor (TFT) LCDs, known as low-cost displays. The addition of amorphous silicon TFT LCDs is expected to boost its competitiveness as a panel supplier and maker of mobile devices

  • Suez Canal revenue falls 7.2%

    Suez Canal Authority Chairman Ahmed Fadel said the waterway's annual revenue had fallen 7.2% in fiscal 2008-2009 to $4.74bn, Reuters has reported. A total of 19,354 ships passed through the canal in the fiscal year, compared with 21,080 in 2007-2008. The global crisis had hit revenues from September, but flows had improved gradually in recent months, he said.

  • Suez Canal revenues down 26%

    An official of Egypt's Suez Canal Authority has said that revenues of the waterway have dipped 26% to $348.2m in June, compared to $471.4m in the same month last year, Reuters has reported. The number of vessels using the waterway was 1,401 in June, down from 1,819 in June 2008, the official said.

  • Suez Canal revenues hit highest level in 2009

    Egypt's revenues from the Suez Canal reached their highest level this year in June, but they remained 26 per cent down on the average month in 2008.

  • Suez Cement to start importing clinker

    Suez Cement, one of Egypt's largest listed cement makers, has said it plans to begin importing 25,000 tonnes of clinker and bagged cement from Croatia and Cyprus in July to meet growing demand in the Egyptian market, Reuters has reported. The first shipment of 7,000 tonnes from Croatia is due to arrive on July 16.

  • Sun ties up with Computer World in Bahrain

    Sun Microsystems has announced its new partner base in Bahrain through a new alliance with Computer World. With the agreement, Computer World is licensed to resell and integrate Sun's server and open storage offerings, as well as promote solutions around virtualization in Bahrain. Computer World is a software and hardware infrastructure provider in Bahrain, providing solutions in technology infrastructure, storage management, enterprise content and resource planning, information system and we

  • Supply ship sinks off Qatar

    A Dubai-based supply ship capsized off the Qatari coast yesterday, reported The Peninsula. One person was killed and 29 people are still reported missing. Five people, including the captain, were rescued after the vessel sank near the Doha Channel, about 10 nautical miles off the coast. No cause has yet been determined. The vessel Demas Victory belonged to UAE-based Mid Gulf Offshore Ship Chartering.

  • Syria appoints executives to head refining businesses

    Damascus has appointed executives to two senior positions in the country's oil refining sector, as part of a wider restructure of its downstream energy industry.

  • Tabreed gets $204m loan from First Gulf Bank

    National Central Cooling Co., the UAE-based refrigeration company known as Tabreed, said yesterday it has borrowed Dhs750m ($204m) from First Gulf Bank to meet its 'corporate and financial obligations'.

  • Tabreed signs $200m loan with First Gulf Bank

    Abu Dhabi’s National Central Cooling Company (Tabreed) has agreed a AED750m ($204m) two-year loan from Abu Dhabi’s First Gulf Bank.

  • Taqa buys Dutch energy firm for $400m

    Abu Dhabi National Energy Company (Taqa) has agreed to buy the Dutch energy firm DSM Energie Holding for about $400m to expand in the North Sea energy market.

  • Tassili Airlines orders aircraft from Boeing and Embraer

    The Algerian carrier Tassili Airlines has placed an order worth more than $332m with the US' Boeing and Brazil's Embraer.

  • TDIC bond oversubscribed

    The Abu Dhabi-based Tourism Development & Investment Company (TDIC) has said that its inaugural $1bn bond tranche under the $3bn Global Medium Term Note (GMTN) Programme has attracted substantial interest from global investors and had been oversubscribed six times. The total order book exceeded $6bn from approximately 300 investors.

  • Tekfen wins Qatar polyethylene plant subcontract

    Turkey's Tekfen Construction has won a $165m contract to build a new polyethylene plant for Qatar Petrochemical Company at Mesaieed.

  • Tenders in August for Abu Dhabi oil company headquarters building

    Abu Dhabi National Oil Company (Adnoc) plans to issue tender documents in August for the contract to build its new corporate headquarters complex on Abu Dhabi corniche.

  • Thai firm to write down $10m regional exploration well

    Thailand's PTT Exploration & Production will write down a second $10m-plus loss on an oil permit in the Middle East and North Africa for 2009 after failing to find significant amounts of crude during drilling in Oman.

  • Thai firm writes off Egyptian drilling costs

    Thailand's PTT Exploration and Production (PTTEP) is to write off $10m in drilling costs after failing to find commercial quantities of oil from an offshore block in Egypt.

  • TKSC delays operation of new unit

    Kuwait Styrene Company (TKSC) has announced that the start-up of its new Ethyl Benzene Styrene Monomer (EBSM) unit in the Shuaiba Industrial Area has been delayed for an estimated four to eight weeks. The delay is caused by a technical issue with an intermediate storage tank used in the production of Styrene Monomer, the company has said. The announcement comes days before the unit was scheduled to begin commercial operations.

  • TNT Express wins Volvo contract

    Volvo Car Overseas Middle East has said it has awarded TNT Express in the UAE, a two-year contract to provide express road and air distribution across the Middle East. The contract will see TNT carry some 6000 Volvo shipments per year, accounting for all Volvo parts outbound business by air and road. TNT, which has been responsible for providing Volvo with express-based services in the region for the last three years, saw the extension of the existing scope to include all road and air shipmen

  • Tourism within Mideast to grow in 2009, says report

    A new report by the World Tourism Organization says tourism within Arab countries is expected to rise between 2 to 6% this year as residents, wary of the new H1N1 flu and looking to save money during the financial crisis, opt to travel within the region. The number of tourists visiting Jordan is not expected to decline this year, with more than half of the total 4.8 million Arab tourists planning to spend their holidays there in 2009, while an estimated 2 million tourists, mostly Arabs, are e

  • UAE banks hold talks on exposure to Saudi debts

    The Central Bank of the UAE held a meeting with local banks on 16 July to discuss their exposure to debts from the Saudi family firms Saad Group and Ahmad Hamad al-Gosaibi and Brothers.

  • UAE inflation falls to 3.4 per cent

    Inflation in the UAE has fallen to 3.4 per cent in the first half of 2009 as the slowing economy and falling commodity prices take their toll on price rises, according to the latest figures from the Economy Ministry.

  • UAE initials 'Open Sky' agreement with Estonia

    The UAE has initialled an 'open' Air Services Agreement and signed a Record of Discussions with the government of Estonia. The two sides have agreed to grant any of the designated airlines of both parties the right to perform scheduled air services. Emirates Airline, Etihad Airways, RAK Airways, Air Arabia and FlyDubai are designated as UAE national airlines under the agreement. Additionally, the agreement allows unrestricted frequencies, capacity and types of aircraft, whether owned or lease

  • UAE train firm approved

    UAE President, Sheikh Khalifa bin Zayed Al Nahyan, has approved a federal law decree for the creation of an independent rail company, to be involved in the transporting of goods and passengers, which will operate under the name 'Etihad Trains Company', according to WAM. The company, which is to be wholly owned by the federal government, will engage in the owning, leasing, renting, purchasing and selling of trains, as well as in investing in the transporting of passengers and goods.

  • UAE, Bulgaria ink air agreement

    The UAE's General Civil Aviation Authority (GCAA) has inked an Air Services Agreement (ASA) with Bulgaria, WAM has reported. The agreement allows unrestricted capacity and types of aircraft, whether owned or leased, to be operated by the designated airlines of each country in any type of service (passenger or cargo) on the routes between Bulgaria and the UAE. The UAE has designated Emirates airline and Etihad Airways, RAK Airways, Air Arabia and FlyDubai as UAE national airlines while Bulgari

  • UN approves Kuwaiti compensation claims

    The UN's Compensation Commission (UNCC) has approved and awarded 10 Kuwaiti claims for damages against Iraq worth a total $430m.

  • United launches Dhakar, Dubai route

    United Airways, a private sector airline founded by non-resident Bangladeshis, launched its inaugural direct flight to Dubai last Thursday, according to New Nation. The airline will initially operate flights from Dhaka to Dubai every Thursday and Sunday. The Dhaka-Dubai-Dhaka route will be served by 155-seat MD-83 aircraft. The carrier has introduced a special one way fare of $250, excluding taxes and surcharges.

  • US firm bids low for Bahrain refinery development

    The US' UOP, a division of the industrial giant Honeywell, is the lowest bidder for a contract to develop a masterplan for a refinery in Bahrain.

  • Van Oord wins Subiya dredging work in Kuwait

    Van Oord of the Netherland's has won a contract for the deepening of a seawater outlet canal to serve the Subiya power and water plant in Kuwait.

  • Verenex issues prequalification notice for Libya oil work

    Canada's Verenex Energy has issued a prequalification notice to contractors for the supply and operation of two drilling rigs as part of exploratory work on its Area 47 acreage in the Ghadames Basin in northwest Libya.

  • Vodafone to list on Qatar Exchange

    Vodafone Qatar, the holder of the second mobile phone licence in Qatar, is to list on the newly created Qatar Exchange on 22 July.

  • Vodafone withdraws bid for LINKdotNET

    Vodafone Egypt has withdrawn its offer to buy LINKdotNET Company, the information technology unit of Orascom Telecom. The withdrawal reduces the number of remaining bidders to four, which are Mobinil, Telecom Egypt and two financial organizations.

  • Wataniya Airways to fly to Jeddah

    Kuwait's Wataniya Airways will begin flights to Jeddah next month, ahead of the start of the holy month of Ramadan, Al-Watan Daily has reported, citing a source. The carrier will be flying seven weekly flights, an average of one a day starting from Aug 19 or 20 to Jeddah, the source said.

  • Water bus passengers increase

    Dubai's Road and Transport Authority (RTA) has reported an increase of 12,052 passengers in its water buses compared to the same month last year. The RTA has reported 43,351 passengers ferried in 11,100 trips. All routes have reported an increase in passengers ferried compared to the previous year.

  • World Bank lends $55m to Tunisia for energy scheme

    The World Bank has approved a $55m loan to fund an energy efficiency and renewable investment project in Tunisia.

  • Worldwide IT spend to drop 6% in 2009, says report

    Worldwide IT spending is on pace to total $3.15tr this year, a 6% decline from 2008 spending of $3.4tr, according to a study by Gartner. The continued economic crisis combined with the effect of exchange rate movements has resulted in Gartner lowering its 2009 forecast from its Q1 projection. In March of this year, Gartner had forecast 2009 IT spending to decline 3.8%.

  • WorleyParsons signs deal with Saudi Electricity

    Australia's WorleyParsons has signed a contract to manage the construction of pipelines to supply crude oil to two power plants in Saudi Arabia.

  • Xerox launches 'budget' printers

    Xerox Corporation is introducing 'budget' multifunction printers, Xerox WorkCentre 3210 and WorkCentre 3220 black-and-white multifunction printers, which combine printing, copying, scanning and faxing into one compact device. The printers print at speeds up to 24 pages per minute (ppm) and 30 ppm, respectively, 1200 x 1200 dpi image quality, and a paper capacity of up to 500 sheets to quickly and easily tackle office print jobs.

  • Yamama to take 20% stake in Yemeni Saudi

    Saudi Arabia's third biggest cement firm by sales, Yamama Cement, has said that it has agreed to take a 20% stake in the Yemeni Saudi Cement Company for $15m. Yemeni Saudi Cement owns a cement plant near the Yemeni city of Aden with a design capacity of 1.4 million tons per year and which is expected to start production next year. The deal must be approved by the assembly of shareholders in Yemeni Saudi Cement Co. for the legal proceedings and the agreement to be finalized.

  • Yansab begins Yanbu production

    Saudi Arabia's Yanbu National Petrochemicals Co. (Yansab) has announced the start of production at its complex in Yanbu Industrial City. The Yansab complex, which comprises eight plants, will add a total annual capacity of over four million metric tons of petrochemical products, including 1.3 million tons of ethylene.

  • Yansab gets $124.16m loan from Sabic

    Saudi Yanbu National Petrochemical Co. (Yansab) received a $124.16m loan from its parent company Saudi Basic Industries Corp (SABIC) during the second quarter 2009, according to Yansab's financial results. The cost of the loan will be according to the current commercial average, and it is due by June 30, 2012, the Saudi Gazette reported.

  • Yansab's $4.9bn plant set to launch

    Saudi Arabia' monarch, King Abdullah will inaugurate Yanbu National Petrochemicals Company's (Yansab) complex today, Reuters has reported. The $4.93bn complex has a production capacity of about 4 million tonnes, and its main products include ethylene, ethylene-glycol propylene and polyethylene. Saudi Basic Industries Corp. (SABIC) owns a 51% stake in the project.

  • Yemen delays bidding for Marib 2 power plant

    Yemen's Public Electricity Corporation (PEC) has delayed the deadline for bids on the planned Marib 2 power plant from 15 July to 15 August.

  • Yemen firm delays export of gas by one month

    Multinational liquefied natural gas (LNG) producer and exporter Yemen LNG has postponed the scheduled date for exporting gas by one month.

  • Yemen plans to replace Aden refinery

    Yemen plans to replace its existing refinery at the Port of Aden with a new plant to help meet rising domestic demand for oil products and diversify into the petrochemicals industry.

  • Yemenia escapes European blacklist after air crash

    Yemenia has not been included on the latest European Commission blacklist of international airlines, despite safety concerns raised by the fatal crash of one of its aircraft in June.

  • Yemenia may scrap Airbus order

    Abdulkalek Saleh Al-Kadi, Chairman of Yemenia Airlines, said the country's flag carrier may repeal a $2bn aircraft order from Airbus because the French government is prejudging the cause of the Airline's flight IY626 fatal accident off the Comoros Islands. Yemenia, which is 51% owned by the government and 49% by Saudia Airlines, had placed an order for 10 Airbus A350 planes in 2007. A final decision 'will depend on the cooperation between us, Airbus and the French', Al-Kadi told Bloomberg.

  • Yemenia suspends Comoros flights

    Yemenia Airlines has said it has suspended all of its flights to the Comoros Islands, in light of 'serious incidents in recent days and major risks that some passengers posed to airport staff.' The carrier has not given details of the serious incidents to which it was referring. The Yemeni carrier had already suspended flights from the southern French city of Marseille.

  • Zamil Steel wins New Zealand contract

    Saudi Arabia's Zamil Steel Industries said it has won a SR88 million ($23.5m) contract for the fabrication and supply of lattice steel towers for the 400kV overhead line of the North Island Grid Upgrade Project in New Zealand. The contract calls for the proto-assembly and load testing of six types of 400kV double-circuit overhead line towers as well as the fabrication and supply of over 425 towers as part of Transpower's North Island Grid Upgrade Project. Delivery of the towers is to be compl

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