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MEED
Oct 2008 Online Content

View all stories from this issue.

  • 19 companies invest Dhs650m in Dubai Industrial City

    Dubai Industrial City, a member of Tatweer, said that 19 companies are currently investing more than Dhs650m to build industrial plants within the six clusters consisting the city. The clusters include minerals, construction material, transport equipments, spareparts, and food and beverage.
  • ABB wins Sulaibiya substation contract

    Europe’s ABB has won a contract for the supply and installation of a substation at Sulaibiya in Kuwait.
  • Abdullah launches Madina projects

    King Abdullah of Saudi Arabia is to launch a range of infrastructure projects in Madina today, valued at SR12bn. According to Arab News, Abdullah will lay the foundation stone for four electricity projects worth more than SR6bn, as well as a water supply project for the city's residential districts.
  • Abraaj Capital buys stake in Pakistan's KES Power

    Dubai-based Abraaj Capital has entered into an agreement to buy a 50 per cent stake in Pakistan’s KES Power.
  • Abu Dhabi adds new bus routes

    Three new routes have been added to the capital's bus network, bringing the total number to seven. Buses on the new routes will run 20 minutes apart and the first 60 in operation will start running at 6.20am, while the last buses will leave at 11.35pm. By 2010, there will be 1,360 air-conditioned buses operating in the emirate. There are also plans for air-conditioned bus shelters and bus stations featuring a mix of retail, refreshment and banking outlets.
  • Abu Dhabi opens second runway

    The Abu Dhabi Airports Company has announced the opening of a second runway for the emirate's international airport. The Dhs1bn project is 4.1km long and located 2km north of the first runway. The project is part of a $6.8bn redevelopment of the airport that is currently underway.
  • Abu Dhabi to have road overhaul

    Abu Dhabi is to overhaul its traffic infrastructure to cope with growing congestion problems according to a Gulf News report. As well as the introduction of mass public transport the plans include the building of bridges and subways at major interchanges, phased traffic light systems and bridges linking Mina Zayed with Mushairib island and Saadiyat island with the Eastern Ring Road.
  • Abu Dhabi to invest $8.4bn in AMD

    US-based Advanced Micro Devices plans to spin off its manufacturing plants as part of an $8.4bn investment from the Abu Dhabi government, reported Bloomberg. Abu Dhabi will pay AMD $700m for a stake in a new company that will own two plants in Germany and build another in New York. The new company, which will assume $1.2bn of AMD's debt, will receive as much as $6bn from Abu Dhabi to expand the factories and get $1.4bn in operating capital. Abu Dhabi will also pay $314m to double its stake in
  • Abu Dhabi to manufacture aircraft parts

    Mubadala Development Company, Abu Dhabi government's investment arm, and Italian aerospace company Finmeccanica on Sunday will manufacture aerospace composite components for civil aircrafts at the recently announced Abu Dhabi-based composites plant. Alenia Aeronautica, a subsidiary of Finmeccanica, will provide technology, technical assistance and specialised training as well as transfer composite aero-structure manufacturing work to the new composites plant. Alenia Aeronautica will also prov
  • ADNH inks Hyatt management

    The Abu Dhabi National Hotels (ADNH) has recently signed a management agreement with Hyatt Hotels & Resorts for Park Hyatt Abu Dhabi, which is slated to open in 2010. The hotel will be located at the northern part of Saadiyat Island and surrounded by a golf course.
  • Aecom to manage Saadiyat cultural district

    The Tourism Development & Investment Company (TDIC) has formed an alliance with US-based Aecom to provide project management services for the cultural district on Saadiyat island in Abu Dhabi.
  • Aecom to manage Saadiyat cultural district

    The Tourism Development & Investment Company (TDIC) has formed an alliance with US-based Aecom to provide project management services for the cultural district on Saadiyat island in Abu Dhabi.
  • Afcons wins deal to build Meydan interchange

    India’s Afcons has been awarded the estimated AED1bn ($272m) contract to build an interchange serving the Meydan racecourse development in the Nad al-Sheba area of Dubai.
  • Afcons wins deal to build Meydan interchange

    India’s Afcons has been awarded the estimated AED1bn ($272m) contract to build an interchange serving the Meydan racecourse development in the Nad al-Sheba area of Dubai.
  • Afriqiyah Airways plans to expand overseas

    Afriqyah Airways is planning a significant expansion into the international market over the next year, adding four new routes to its network.
  • Air Arabia begins daily service to Hyderabad

    Air Arabia has begun daily service to its latest destination in Hyderabad, India from the carrier's main hub in Sharjah. The launch of this new destination coincides with the carrier's fifth anniversary celebrations. Hyderabad is the carrier's 44th global destination and its 12th in India, reinforcing its status as the largest destination network in India of any Middle East-based carrier.
  • Air Arabia CEO wins award

    Air Arabia's chief executive officer has been named the world's low-cost carrier 'CEO of the Year' at the Budgie Awards. The awards were given at the World Low-Cost Airlines Congress held in London. Adel Ali was selected for the honour as the leader among his global peers, and lauded for his exceptional management skills and innovative vision, according to a press statement.
  • Air Arabia offers free flights

    Celebrating the fifth anniversary of its operations, low-cost carrier Air Arabia will fly all passengers on all its routes free on October 28. The airline announced on Monday that passengers travelling on October 28 to any destination on the airline's network will be entitled to a full credit of the fare and surcharges paid. The offer, however, excludes the government and airport taxes, which are to be borne by the passengers. The offer is valid for all passengers who book their flights for O
  • Air Arabia offers travel insurance

    Budget carrier Air Arabia has introduced a new travel insurance service aimed at giving its passengers greater peace of mind when they travel. This optional service will start with an initial cost of $5 one way or $10 for a return trip, excluding taxes. The 'Travel Secure' service is offered by Air Arabia in association with AIG companies under their 'AIG TravelGuard' suite of products. Air Arabia said its passengers can take advantage of this new insurance service via the airline website.
  • Air Arabia to offer customers AIG insurance

    AIG UAE has recently launched a tie-up with Air Arabia to cover travel-related risks for the airline's passengers across all destinations. The travel insurance solution, 'Travel Secure' will offer an array of insurance options for Air Arabia passengers for a maximum of 90 days after they book their ticket on line.
  • Airline profits predicted to fall by 30 per cent this year

    Airline profits in the Middle East and North Africa are expected to fall by 30 per cent this year to $200m, compared to $300m in 2007.
  • Airlines facing 'bullet' as global downturn bites

    Delegates at the Euromoney Middle East and Africa Airfinance conference today were warned that the aviation industry is facing a tough few years where consolidation, closure and falling revenues will force airlines to cut fares to keep market share and have cash coming into their companies.
  • Al Habtoor Leighton merge with UK firm

    The Al Habtoor Leighton Group has concluded a merger deal with UK-based construction company ISG to integrate their respective UAE interior fit-out businesses. Al Habtoor Interiors will sell 50% of its business to ISG to form Al Habtoor ISG. Dhs80m of funding will be invested into the new business over the next three years.
  • Al Saeda Airlines commenced its flights

    Al Saeda Airlines, a domestic subsidiary of Yemen Airways, launched its first flights to Aden yesterday. The company owns 8 Canadian Bombardier with 74 seats, and will have on its schedule 5 daily flights between Sanaa and Aden in addition to some flights to other cities in Yemen.
  • Aldar to launch hotel management company

    Aldar, the largest property developer in Abu Dhabi, plans to launch its own hotel management company to operate the 40 or so hotels it is developing, reported Gulf News. Paul Bell, managing director of Aldar Hotels and Hospitality, said the company already has 12 hotels under development in Abu Dhabi, including six that will be delivered next year. Aldar on Wednesday said it has signed a management contract with Movenpick Hotels and Resorts to operate a new 300-room hotel project at Al Raha B
  • Algeria protects economy from global financial crisis

    The Algerian economy is protected from the turmoil in world financial markets because it has reduced its debt and built up foreign currency reserves, according to Finance Minister Karim Djoudi.
  • ALGERIA TENDER: Public procurement system modernisation consultancy

    Provision of consultancy services for a project to modernise the state’s public procurement system. Closing date: 27 October 2008
  • Al-Naboodah Laing O’Rourke starts work on Al-Dubawi

    Al-Naboodah Laing O’Rourke has started work on the estimated AED1bn ($273m) Al-Dubawi resort project in Dubai.
  • Al-Naboodah Laing O’Rourke starts work on Al-Dubawi

    Al-Naboodah Laing O’Rourke has started work on the estimated AED1bn ($273m) Al-Dubawi resort project in Dubai.
  • Al-Rajhi Bank profits rise to $469m

    Al-Rajhi Bank, the biggest Islamic bank in the Middle East, has reported an increase in profits of 3.7 per cent for the three months to the end of September, to SR1.76bn ($468.5m), as a result of rising income from lending and investment activities.
  • Amara Holdings looks to raise $200m

    Amara Holdings, a newly formed Sharia-compliant investment vehicle, has begun speaking to GCC investors to raise $200m to fund its prospective investments.
  • Amlak and Tamweel begin merger talks

    Dubai’s two largest Islamic mortgage providers, Amlak and Tamweel, have said that they have begun exploratory discussions about a possible merger of the two firms.
  • Amlak and Tamweel begin merger talks

    Dubai’s two largest Islamic mortgage providers, Amlak and Tamweel, have said that they have begun exploratory discussions about a possible merger of the two firms.
  • Amman links salaries to inflation to control deficit

    Jordan's Finance Ministry has confirmed that the country's 600,000 civil servants and members of the armed forces will receive pay rises at the same rate as inflation in 2009.
  • Another tower planned for Maritime City

    Local developer East & West plans to build a residential tower at Dubai Maritime City.
  • Another tower planned for Maritime City

    Local developer East & West plans to build a residential tower at Dubai Maritime City.
  • Aqaar and Accor to open new hotel

    Ajman-based Aqaar real estate and property development company has signed up with French hotel group Accor Hospitality to manage a business hotel under the company's Novotel brand. The four-star Novotel Hotel forms part of Phase II of Aqaar's "Ajman 1" development, which is a residential, commercial and hospitality complex scheduled for completion in 2011. The hotel will comprise of 200 rooms with 70 serviced apartments and a variety of facilities, including restaurants, a wellness retreat, a
  • Arabian railway network goes underground

    More than $100bn worth of railway projects are under way in the GCC. The opportunities and challenges are growing.
  • Arabtec awarded Mudon contract in Dubai

    Dubai-based Arabtec Construction has been awarded the AED550m ($150m) contract to build 12 five story residential buildings at the Mudon development in Dubailand.
  • Arabtec awarded Mudon contract in Dubai

    Dubai-based Arabtec Construction has been awarded the AED550m ($150m) contract to build 12 five story residential buildings at the Mudon development in Dubailand.
  • Arabtec Holding increases profits by 122 per cent

    UAE-based Arabtec Holding has posted a profit increase of 122 per cent for the first nine months of 2008.
  • Arabtec Holding increases profits by 122 per cent

    UAE-based Arabtec Holding has posted a profit increase of 122 per cent for the first nine months of 2008.
  • Arabtec puts UAE deal on hold

    Arabtec holding has announced that it is putting plans to buy a UAE piling contractor on hold while waiting to see if the market is affected by the global financial crisis, The National has reported. Arabtec declined to name the company in question.
  • Aramex logistics centres receive TAPA rating

    Four Aramex logistics centres received top honours from the Technology Asset Protection Association (TAPA), the global transportation industry's leading technical authority. The four facilities are in Bahrain, Riyadh, Damman, and Beirut and have received the certification thanks to their advanced security standards and customized technology.
  • Aramex net profit up 31%

    Aramex has reported a 31% increase in its net profits that touched Dhs33.9m ($9.2m) for the third quarter this year. The figure for the same period last year was Dhs26m. Aramex revenues registered a 21% increase from Dhs451.7m to Dhs545.7m during the quarter year on year.
  • Areva signs Jordanian uranium exploration deal

    French nuclear giant Areva has signed an agreement with the Jordan Atomic Energy Commission (JAEC) for uranium exploration in the kingdom.
  • Asian Finance Bank plans Gulf aviation fund

    Malaysian Islamic lender Asian Finance Bank will set up aviation and property funds with over Dhs1.54bn, aiming to capitalise on demand for alternative assets amid the global financial crisis. According to Asian Finance chief executive Mohammad Azahari Kamil, The bank, which is backed by Middle Eastern shareholders, is planning a Gulf aviation fund which could be denominated in the euro or dirham currency.
  • AXA to expand marine insurance

    AXA Insurance Gulf has signed a deal with AXA Corporate Solutions to expand its marine and large risks insurance sectors. The group will develop and offer insurance packages for marine cargo, yacht and large commercial risks.
  • BA moves most ME flights to its Terminal 5

    British Airways has moved most of its Middle East flights to Terminal 5, its new home in London Heathrow. Britain's flagship carrier operates 56 services weekly to the GCC. The airline's three daily Dubai flights were part of the remaining bundle of long-haul services to make the switch to Terminal 5, Britain's largest free-standing building. BA's daily services from Abu Dhabi, Muscat, Bahrain, Qatar and Kuwait transferred to Terminal 5 on September 17.
  • BA reports fall in traffic

    UK carrier British Airways has reported a drop in premium, first and business class, traffic of 4.8% in September. The group cited challenging global economic situations as the reason for the fall in numbers. The fall in traffic has led to a load factor equal to just 74% compared to the same month last year.
  • Bahrain central bank says liquidity remains adequate

    The governor of the Central Bank of Bahrain, Rasheed Mohammed al-Maraj, has said that liquidity in Bahraini dinars remained “normal' after meeting banks in the country to discuss the current global financial crisis.
  • Bahrain creates firm to manage Manama airport expansion

    Bahrain is finalising the new structure of the country's aviation regulator, creating a separate company to oversee the expansion of the international airport at Manama.
  • Bahrain launches tender round for deep gas exploration

    Bahrain’s National Oil and Gas Authority (Noga) has launched a new onshore deep gas exploration round in an effort to meet rising domestic demand.
  • Bahrain real estate sales forecast to reach $5bn

    Residential real estate sales in Bahrain could be worth more than BD2bn ($5.3bn) in 2008 if current levels of activity continue, according to a report from international property agent DTZ.
  • Bahrain real estate sales forecast to reach $5bn

    Residential real estate sales in Bahrain could be worth more than BD2bn ($5.3bn) in 2008 if current levels of activity continue, according to a report from international property agent DTZ.
  • Bahrain signs agreement with Hess to establish gas terminal

    Bahrain has signed a memorandum of understanding with US firm Hess Corporation for the establishment of a liquefied natural gas (LNG) import terminal in the kingdom.
  • BAHRAIN TENDER: Building renovation works

    Carrying out renovation works at a distillate forwarding station building. Closing date: 26 November 2008
  • BAHRAIN TENDER: Building renovation works

    Carrying out renovation works at a distillate forwarding station building. Closing date: 26 November 2008
  • BAHRAIN TENDER: Power station machinery

    Supply of an engraving machine and accessories for a power station. Closing date: 26 November 2008
  • BAHRAIN TENDER: Underwater maintenance services

    Provision of diving underwater maintenance services. Closing date: 19 November 2008
  • Bahrain to open new port by December

    Bahrain announced it will open the newly developed Khalifa Bin Salman Port for business in December 2008. The port has been dredged to a depth of 15 meters to accommodate any container ship currently in service - will have a capacity of 2.5 million Twenty Foot Equivalent Units (TEUs), two thirds the capacity of Great Britain's Felixstowe.
  • Bahrain's Gulf Hotels revenue up 26%

    Bahrain-based Gulf Hotels Group yesterday said its gross operating revenue rose to BD20.930 million for the first nine months of the year from BD16.509 million in 2007, up by 26.78%, reported the Bahrain Tribune. Owner and operator of the Gulf Hotel, Gulf Convention Centre, Gulf Executive Residence and Gulf Brands International, the company posted a net profit of BD6.507 million in comparison with BD4.178 million for the corresponding period last year, an increase of 55.74 per cent.
  • Banks end Powertek bid for Rabigh power plant

    A consortium of Malaysia’s Powertek Berhad and the local Xenel Industries is not expected to bid to develop the $2bn Rabigh independent power project in Saudi Arabia, according to bankers.
  • Banque Marocain de Credit Exterieur plans share buy-back

    Banque Marocain de Credit Exterieur (BMCE), Morocco’s second largest lender, has announced plans to buy back 15 million of its shares in an effort to prop up the price of its shares.
  • Batelco puts overseas expansion plan on hold

    Batelco, the listed Bahraini telecoms operator, has put its overseas expansion on hold while it tries to identify the best new markets in India and Africa.
  • Bawadi airs new project

    Bawadi, a member of Tatweer, has signed an agreement with Dubai Properties to develop a Dhs20bn tourism project over a 30 million square foot area at Bawadi, the mega hospitality and tourism destination being developed in Dubai.
  • BenQ to unveil laptop

    BenQ has announced that it will bring out the latest version of its Joybook Lite notebook computer in the Gulf. The notebook features an Intel Atom processor and Windows XP. It will be available in an 8.9-inch version and 10-inch version.
  • Bidders line up for Oman power consultancy work

    A total of 23 companies have purchased tender documents for the consultancy contract for two independent water and power projects in Oman.
  • Bids in for Bahraini transmission work

    Three companies have submitted bids for the supply of 220-kV transmission cables in Bahrain.
  • Bids in for Dubai substations

    Dubai Electricity & Water Authority (Dewa) has received bids for the project to supply, install, test and commission a series of 132/11KV substations.
  • Bids in for Jebel Ali Port works

    DP World has received bids for two construction packages for the terminal 3 project at Jebel Ali Port.
  • Bids in for Jebel Ali Port works

    DP World has received bids for two construction packages for the terminal 3 project at Jebel Ali Port.
  • Bids in for Muscat airport dredging works

    The Transport & Communication Ministry has received bids from four companies for the dredging and reclamation works on the Muscat international airport expansion project.
  • Bids in for Muscat airport dredging works

    The Transport & Communication Ministry has received bids from four companies for the dredging and reclamation works on the Muscat international airport expansion project.
  • Bids in for Oman power and water consultancy work

    Oman Power & Water Procurement Company (OPWP) has received four bids for the contract to provide advisory services on two planned independent water and power projects (IWPP) in the country.
  • Bids in for Signature Towers

    Local developer Dubai Properties has received first-stage bids from three groups for the contract to build its Signature Towers project at Business Bay.
  • Bids in for Signature Towers

    Local developer Dubai Properties has received first-stage bids from three groups for the contract to build its Signature Towers project at Business Bay.
  • Bids in for Sohar airport civil works

    The Transport & Communication Ministry has received bids from five companies for the first civil works package on the new Sohar airport.
  • Bids in for Sohar airport civil works

    The Transport & Communication Ministry has received bids from five companies for the first civil works package on the new Sohar airport.
  • Bids submitted for Etisalat's Saudi headquarters

    Eight firms have submitted bids for the administrative headquarters of the UAE-based telecommunications company Etisalat, in Riyadh.
  • Bids submitted for Etisalat's Saudi headquarters

    Eight firms have submitted bids for the administrative headquarters of the UAE-based telecommunications company Etisalat, in Riyadh.
  • Blue Systems looks for GCC expansion

    Blue Systems, the London-based company behind the new mobile financial market tracking and trading programme, is looking to expand its Middle East network and is planning a roll out of its software in Arabic with a matter of days. The company currently already has agreements in place with Etisalat and Zain.
  • BMI to double flights from Riyadh to London

    British carrier BMI will double its service from the Saudi capital Riyadh to London Heathrow from January 15, Philip Hedges, BMI's Marketing Manager for the Middle East and Africa, told AME Info. The Riyadh to Heathrow leg will increase from three services a week to six, providing a daily service with the exception of Saturday. Return services from Heathrow to Riyadh will operate daily with the exception of Friday. The service originating from Heathrow will go onwards to Dammam on Monday, Wed
  • Bomb threat grounds Etihad flight

    An Etihad flight from Abu Dhabi to Islamabad was diverted to Karachi on Wednesday after a note warning of a bomb was found in one of the aircraft's toilets. A search of the plane found no explosives during the stop in Karachi and the aircraft was cleared to continue its journey to the Pakistani capital. Around 190 passengers were on board the flight.
  • Bouteflika calls for constitutional change to allow third presidential term

    Algerian President Abdelaziz Bouteflika has called for the country's constitution to be rewritten in a way that would allow him to stand for a third term in the next presidential elections, due in April 2009.
  • Bridges to connect Dubai to Palm Deira

    Nakheel has revealed that Deira Island Front at the base of Palm Deira in Dubai will have three 12-lane bridges that will connect the island to Deira. The 12-lane bridges will connect Deira Island Front with mainland Deira between the mouth of Dubai Creek and Port Hamriya Deira via Abu Baker Al Siddique Road, Abu Hail Road and Omar Bin Khattab Road. Decking has been laid for the first of these bridges, joining Abu Baker Al Siddique Road, and is due for completion in May 2009, with an access r
  • British 'beach sex' couple sentenced

    A British man and woman accused of having sex on a beach in Dubai have been sentenced to three months in jail, BBC has reported. Michelle Palmer, 36, and Vince Acors, 34, were arrested on 5 July on Jumeirah Beach hours after meeting at a champagne brunch at the Le Meridien hotel. A police officer told Dubai's Court of First Instance he had warned them about their inappropriate behaviour, but returned later to find them have sex on a sun lounger. The couple said they were merely kissing and h
  • Budget airline market still strong, says Jazeera CEO

    Jazeera Airways has said that it is confident it can continue to expand its business, despite the global downturn. In an exclusive interview with AME Info, CEO Marwan Boodai, said the three year old airline was adding new routes and believed it was in a strong position to survive any downturn.
  • Cabs take 14 minutes to reach customers in Dubai

    The average time for a taxi to reach a customer in Dubai is about 14 minutes, according to Essa Al Dossari, the CEO of the Public Transport Agency at Dubai's Roads and Transport Authority said in a press release on Monday. The Dubai Taxi Agency (DTA) and its franchise companies handled as many as 867,397 calls related to taxi requests in September. The number of bookings executed by Dubai Taxi Agency alone amounted to 325,786, whereas bookings carried out by the franchise companies topped 375
  • Cairo bourse crashes in volatile market

    Another week, another stock market crash. This time, it was the Egyptian Exchange's turn to suffer.
  • Cairo bourse suffers biggest fall in history

    Egypt's Case 30 index suffered its largest one-day fall since its inception in January 1998, dropping 16 per cent on 7 October to finish the day at 5,897 points.
  • Cairo claims financial crisis is not affecting banks

    Egypt’s Minister of Trade & Industry Rachid Rachid says the country’s banks have not been adversely affected by the international financial crisis.
  • Capital Market Authority plans Riyadh tower

    A tall tower is set to be built in Riyadh’s King Abdullah Financial District.
  • Capital Market Authority plans Riyadh tower

    A tall tower is set to be built in Riyadh’s King Abdullah Financial District.
  • Capital raised from Gulf initial public offerings falls 23 per cent

    Gulf companies raised $3.6bn through initial public offerings (IPOs) in the third quarter of 2008, down 23 per cent on the second quarter as the credit crunch started to affect regional capital markets.
  • Cayan awards Lamar Towers deal to Saudi Arabian Construction

    The local/Lebanon Saudi Arabian Construction Company has been awarded a SR2bn ($532m) construction contract for Lamar Towers in Jeddah.
  • Cayan awards Lamar Towers deal to Saudi Arabian Construction

    The local/Lebanon Saudi Arabian Construction Company has been awarded a SR2bn ($532m) construction contract for Lamar Towers in Jeddah.
  • Central Bank of Kuwait closes all Gulf Bank currency derivatives trades

    The Central bank of Kuwait has announced that it has closed all the currency derivatives trades that Gulf Bank was involved in on behalf of its clients, following the losses incurred by the bank as a result of these positions.
  • CH2M Hill to manage UAE nuclear power programme

    Emirates Nuclear Energy Corporation (Enec) has appointed CH2M Hill as the managing agent for the UAE’s civil nuclear power programme.
  • Chinese firms to seek Dubai listings

    China Security & Surveillance Technology (CSST) will list on the Dubai International Financial Exchange (DIFX) on 13 October, in a move considered to be the first in wave of dual-listings in the region by firms from the Far East.
  • Chinese start work on Emirates road contract

    Beijing-based China State Construction & Engineering Corporation has started work on the AED938m ($255m) contract to widen Emirates road in Dubai.
  • Chinese start work on Emirates road contract

    Beijing-based China State Construction & Engineering Corporation has started work on the AED938m ($255m) contract to widen Emirates road in Dubai.
  • Citigroup real estate report states slowdown more likely than collapse

    Dubai’s real estate sector is to experience a slowdown, but avoid an all-out collapse, according to a new report by US-based Citigroup.
  • Citigroup real estate report states slowdown more likely than collapse

    Dubai’s real estate sector is to experience a slowdown, but avoid an all-out collapse, according to a new report by US-based Citigroup.
  • Commercial Bank of Qatar profits up 46 per cent

    Commercial Bank of Qatar (CBQ) has announced an increase in net profits of 46 per cent for the three months to the end of September, with profits reaching QR560m ($153.8m) during the period.
  • Commission awards Jubail 2 earthworks deal to Saad Sahmi al-Hajri

    The Royal Commission for Jubail & Yanbu has awarded an earthworks contract to the local Saad Sahmi al-Hajri & Partner Company For Contracting, valued at more than SR100m ($27m).
  • Commission awards Jubail 2 earthworks deal to Saad Sahmi al-Hajri

    The Royal Commission for Jubail & Yanbu has awarded an earthworks contract to the local Saad Sahmi al-Hajri & Partner Company For Contracting, valued at more than SR100m ($27m).
  • Commission awards Jubail contract to Radicon-Gulf and Kentz Engineering

    The Royal Commission for Jubail & Yanbu has awarded a SR100m ($27m) engineering design contract to a joint venture of the local Radicon-Gulf Consult and UK-based Kentz Engineering International.
  • Commission awards Jubail contract to Radicon-Gulf and Kentz Engineering

    The Royal Commission for Jubail & Yanbu has awarded a SR100m ($27m) engineering design contract to a joint venture of the local Radicon-Gulf Consult and UK-based Kentz Engineering International.
  • Commission awards Jubail housing contract to Azmeel

    The Royal Commission for Jubail & Yanbu has awarded a housing contract worth more than SR200m ($53m) to the local Azmeel Contracting & Construction Corporation.
  • Commission awards Jubail housing contract to Azmeel

    The Royal Commission for Jubail & Yanbu has awarded a housing contract worth more than SR200m ($53m) to the local Azmeel Contracting & Construction Corporation.
  • Commission issues tender for Air Defence headquarters at Jubail

    The Royal Commission for Jubail & Yanbu has issued a tender for the construction contract for a headquarters building at Jubail Industrial City.
  • Commission issues tender for Air Defence headquarters at Jubail

    The Royal Commission for Jubail & Yanbu has issued a tender for the construction contract for a headquarters building at Jubail Industrial City.
  • Confused by the world financial crisis? You should be

    IMF and World Bank meetings this week are the season's greatest gathering of the clueless and the culpable. The big decisions about the global financial storm are being made elsewhere.
  • Consolidated Contractors International starts work on Sohar interchange

    Athens-based Consolidated Contractors International Company (CCC) has started work on a OR49m ($127m) interchange project in Sohar.
  • Consolidated Contractors International starts work on Sohar interchange

    Athens-based Consolidated Contractors International Company (CCC) has started work on a OR49m ($127m) interchange project in Sohar.
  • Consulting Engineering Services bids low for Shinas port study

    India's Consulting Engineering Services (CES) is the low bidder for the contract to carry out a feasibility study into the development of the port at Shinas in Oman.
  • Contractors invited to bid for Business Bay buildings

    Contractors have been invited to bid for two building contracts at the Business Bay development in Dubai.
  • Contractors invited to bid for Business Bay buildings

    Contractors have been invited to bid for two building contracts at the Business Bay development in Dubai.
  • Contractors receive extension for Honam cracker bids

    Companies bidding for the contract to provide technology and build a mixed-feedstock cracker at Mesaieed have been given an extension until 27 October to submit their commercial bids.
  • Courts at Dubai finance centre target regional cases

    The commercial courts at the Dubai International Financial Centre (DIFC), called the DIFC Courts, could be used to hear cases from around the region, according to Sir Anthony Evans, chief justice of the courts.
  • Credit crunch set to hit financing of Aramco refineries

    Saudi Aramco has admitted that financing its twin export refineries at Jubail and Yanbu is likely to be a challenge for its funding partners, France’s Total and the US’ ConocoPhillips.
  • DAE in Airbus deal

    Dubai Aerospace Enterprise has concluded a deal with Indian carrier Kingfisher to acquire three new Airbus planes on a sale and leaseback deal.
  • Dana Gas discovery boosts Egyptian reserves

    The UAE’s Dana Gas has boosted its Egyptian reserves by 20 per cent after making a third gas and condensate discovery at its West Manzala concession in the Nile Delta.
  • Danube to invest $11m in Bahrain steel market

    Danube Building Materials has announced plans to invest Dhs40m ($11m) in the fast-growing steel market in Bahrain. Company officials said the investment is part of Danube's plans to target the thriving construction market in Bahrain. The company had expanded its operations to the kingdom in 2007. In addition to its Bahrain-based expansion, Danube has recently announced its plans to invest Dhs50m in a new steel facility in Oman and Dhs200m in the steel industry in UAE in 2008.
  • Delta increases flights to ME

    Delta Air Lines now offers improved connectivity for Middle East passengers travelling to the US with the opening of carrier's nonstop daily flights from Dubai to Atlanta. Beginning November 8, Delta will also launch a four times weekly nonstop flight from Kuwait City to Atlanta. 'In the past 12 months we have enjoyed load factors on the Dubai to Atlanta service in the mid to high 80% range,' said Manoj Kuriakose, commercial manager Middle East, Delta Air Lines. Dubai is one of over 50 new in
  • Dewa bill payment by phone

    The Dubai Electricity and Water Authority (Dewa) has announced that customers will be able to pay their bills via mobile phone. Dewa signed an MoU with Dubai egovernment on Sunday, which will enable users to pay bills through their phones using a service originally set up for Salik payments.
  • Dewa scraps bids for P Station project in Hassyan

    Dubai Electricity & Water Authority (Dewa) has scrapped the bids submitted for the first phase of its P Station project at Hassyan.
  • Dhs1.24bn for Sharjah infrastructure

    The emirate of Sharjah is to spend Dhs1.24bn on financing the expansion of road projects and sewage works. Dhs100m of the total will go toward financing the expansion of the sewage treatment plant, which is scheduled for completion by 2011.
  • DIC starts leasing open storage yards

    Dubai Industrial City has commenced leasing nearly 2.8 million square metres of open storage yards to meet the huge demand from major automotive, equipment and construction companies. Demand for open storage yards Dubai Industrial City has risen due to its location adjacent to the Dubai World Central's Al Maktoum International Airport, its proximity to Jebel Ali Port and Free Zone, as well as easy accessibility to major highways, according to a press statement. Rashed Al Ansari, Vice Presiden
  • DIC to give funding tips to small businesses

    Dubai Internet City is using Gitex Technology Week in Dubai to offer insights into the benefits of raising private equity in the technology sector. It will explain to delegates what venture capitals look for in small and medium sized companies and the benefits they offer beyond the money they pump into a business. The sessions will be lead by UAE-based venture capitalists. Gitex open s its doors today at the International Convention Centre.
  • District cooling projects face financing challenge

    Demand for district cooling is expected to rise more than 350 per cent in the Gulf by 2015 but getting the necessary project finance could prove a challenge in the current financial climate, according to a new report from MEED Insight.
  • Dnata adopts HRG branding

    Dnata has announced its corporate travel operations is now branded under Hogg Robinson Group (HRG) Abu Dhabi. A recent HRG hotel survey notes the average room rates in Abu Dhabi has increased by 23% in the first six months of 2008 (compared to the same period in 2007), placing the country in the top ten most expensive cities worldwide for corporate travellers.
  • Dolphin $5bn refinancing expected to launch in 2009

    The $5bn refinancing of the Dolphin Gas project is on schedule for launch in early 2009, despite the current difficult market conditions, according to sources close to the scheme.
  • Drydocks into Asian expansion

    Drydocks World, Dubai World's shipyard business unit is exploring several opportunities in Asia, Dubai World Chairman Sultan Ahmad Bin Sulayem has told reporters during a tour of the company's facilities in Indonesia and Singapore, Gulf News has reported. The company seeks to expand its marine engineering and fabrication business in Asia with potential acquisitions in China, India, Thailand and Vietnam.
  • Drydocks World plans $300m centre in SE Asia

    Drydocks World, a unit of Dubai World, has announced plans to develop a $300m marine services centre on Indonesia's Batam Island, Gulf News has reported. CEO Geoff Taylor said Drydocks World will hold an 80% stake in the project in which Dubai-based steel fabrication firm Fabtech is a partner. The marine services centre will cover 172 hectares, an area 22% larger than the total combined land of the three shipyards on Batam and one in Singapore operated by Drydocks World.
  • Dubai Aerospace denies plan to buy US leasing firm

    Dubai Aerospace Enterprise (DAE) has ruled out a possible takeover bid for the US leasing group International Lease Finance Corporation (ILFC).
  • Dubai Aerospace Enterprise increases fleet

    Dubai Aerospace Enterprise (DAE) has increased its fleet, acquiring three Airbus planes owned by India’s Kingfisher Airlines in a sale and leaseback deal.
  • Dubai an IT outsourcing 'loser'

    Dubai is the technology 'loser' in its efforts to be a high-end outsourcing hub, according to a new report on the outsourcing sector in the Middle East. The Yankee Group report, 'Can Middle Eastern Countries Fulfill the Eastern Promise?', said that high property costs, poor public transport and a lack of incumbent IT skills put it in a weak position, despite developments such as Silicon Oasis. The report's author, Tony Marson, told AME Info that anyone who thinks that 'this is going to become
  • Dubai awards tram system contract

    Dubai's Roads and Transport Authority has awarded a contract for the Al Sofouh Tram project to a consortium comprising Alstom and Besix. The contract involves the designing and building of the first 9.5km phase of Al Sufouh Tram, which is expected to become the world's first tram with fully enclosed air-conditioned stations. Abdul Majid Al Khaja, CEO of the RTA Rail Agency, said the Dhs3.18bn ($866m) contract is for designing and constructing 13 stations and a depot.
  • Dubai bourse trades in dirhams to attract investors

    The Dubai International Financial Exchange (DIFX), the smaller of the city's two stock exchanges, has begun to allow trading in UAE dirhams in an attempt to attract more liquidity to the market from private investors.
  • Dubai Financial Market profits drop 10 per cent

    Dubai Financial Market (DFM) suffered a 10 per cent drop in net profits in the first nine months of 2008.
  • Dubai government liabilities reach $47bn

    Dubai’s government has $47bn in liabilities through government-related companies, more than its entire gross domestic product, according to Moody’s Investors Service, a credit ratings agency.
  • Dubai International Capital boosts private equity business

    Dubai International Capital (DIC) has appointed three new senior staff to bolster its private equity and emerging markets subsidiaries.
  • Dubai Maritime City invites firms to express interest in Creek buildings

    Selected contractors have been invited to express interest in the contract to build the Creek Towers & Plaza development at Dubai Maritime City.
  • Dubai Maritime City invites firms to express interest in Creek buildings

    Selected contractors have been invited to express interest in the contract to build the Creek Towers & Plaza development at Dubai Maritime City.
  • Dubai metro receives 20 train car sets

    Dubai's Roads and Transport Authority has announced that 20 train car sets for the Dubai Metro have arrived in Dubai and are housed in Jebel Ali Depot with 24 more expected over the next twelve months for the Red Line. Abdulmajid Al Khaja, CEO of the Rail Agency in RTA said, 'With over 80% of the Dubai Metro project above ground, the project is quickly becoming a major feature on the Dubai landscape. The Red Line - Phase 1 of the project - comprises 25 elevated stations, 4 underground station
  • Dubai Properties and Bawadi form joint venture

    Bawadi and Dubai Properties will jointly develop a AED20bn ($5.4bn) tourism project at Bawadi in Dubailand.
  • Dubai Properties and Bawadi form joint venture

    Bawadi and Dubai Properties will jointly develop a AED20bn ($5.4bn) tourism project at Bawadi in Dubailand.
  • Dubai Properties invites bids for Signature Towers

    Local developer Dubai Properties has invited at least three companies to submit first stage bids by 12 October for the contract to build its Signature Towers project at Business Bay.
  • Dubai Properties invites bids for Signature Towers

    Local developer Dubai Properties has invited at least three companies to submit first stage bids by 12 October for the contract to build its Signature Towers project at Business Bay.
  • Dubai retenders second phase of Hassyan power project

    Dubai Electricity & Water Authority (Dewa) has retendered phase 2 of the P Station power and water project at Hassyan.
  • Dubai road accidents down 15%

    The number of road accidents in Dubai during the first nine months of 2008 has dropped by 15% compared to the same period last year, the emirate's Roads and Transport Authority said in a press release. Maitha bin Adai, the CEO of the Traffic and Roads Agency at the RTA, said traffic fatalities during the first nine months of this year stood at 196 compared to 231 during the same period last year.
  • Dubai Terminal 3 opens Tuesday

    Dubai International Airport's Dhs16.52bn Terminal 3, the largest in the world, opens on Tuesday and is designed to promote a feeling of tranquility for travellers. Selected Emirates flights begin on October 14 from the terminal, which has been designed to handle 60 million passengers a year, which it is expected to reach within three years. Once the third concourse is added in 2011, that number will rise to 75 million. By December all Emirates flights will go via the new terminal, which shoul
  • Dubai Terminal 3 testing finished

    Dubai Airports has finished operational testing of the new Terminal 3 at the International airport. It means that Emirates' airlines operations can now start to be phased into the new terminal, starting 14 October. The terminal will be opened in four phases to ensure that systems and processes are all in place and tested.
  • Dubai to impound cars of speeders

    Dubai Police is launching a two-week program under which motorists driving at 60% more than the speed limit on Sheikh Zayed Road will have their cars immediately impounded, Khaleej Times has reported. Brigadier Mohammed Saif Al Zafin, Director of the General Department of Traffic, said the campaign will be extended to other roads in Dubai to catch and fine motorists who speed. The two-week campaign was launched against reckless motorists who speed, not leave safe distances between vehicles an
  • Dubai World villa sales begin to slow down

    Sultan bin Sulayem, chairman of Dubai World, has said villa sales in Dubai are beginning to slow as it becomes more difficult to secure housing finance in the emirate.
  • Dubai World villa sales begin to slow down

    Sultan bin Sulayem, chairman of Dubai World, has said villa sales in Dubai are beginning to slow as it becomes more difficult to secure housing finance in the emirate.
  • East Port Said expansion to enter new phase

    Cairo is planning a new phase of expansion for East Port Said, at the northern mouth of the Suez Canal on the Mediterranean coast.
  • Egypt eliminates taxes on cement and steel exports

    Egypt Minister of Trade and Industry, Rashid Mohammed Rashid, has issued a decision that eliminates taxes on cement and steel products export, according to the Egyptian 'Middle East News Agency'. The decision comes as a response of the global economic crisis. Prior to that, exporters paid 15.20$ to export 1 tonne of cement and 32.38 per 1 tonne of steel bars.
  • Egypt forecast to escape lightly from credit crunch

    The Egyptian economy will be only lightly affected by the global credit crunch and domestic demand for steel will fall only slightly in 2009, according to the country’s largest steel producer.
  • EGYPT TENDER: Aircraft fuelling units

    Supply of fuelling units for aircraft. Closing date: 10 November 2008
  • EGYPT TENDER: Electricity feeding network equipment

    Replacement and revamping of equipment for an overhead electricity feeding network. Closing date: 26 November 2008
  • EGYPT TENDER: Kits and reagents

    Supply of kits and reagents. Closing date: 30 December 2008
  • EGYPT TENDER: Laboratory equipment

    Supply of laboratory equipment. Closing date: 21 December 2008
  • EGYPT TENDER: Metro rolling stock refurbishment parts

    Supply of spare parts for the refurbishment of rolling stock on a metro. Closing date: 29 October 2008
  • EGYPT TENDER: Metro system data transmission network

    Supply and commissioning of a data transmission network to serve a metro system. Closing date: 30 November 2008
  • EGYPT TENDER: Natural gas connection fittings and joints

    Supply of electro-fusion fittings and mechanical joints for a natural gas connection project. Closing date: 10 November 2008
  • EGYPT TENDER: Power station pumps package

    Carrying out the main pumps package for a power station project. Closing date: 30 November 2008
  • EGYPT TENDER: Sanitary drainage revamping

    Revamping of sanitary drainage facilities. Closing date: 9 November 2008
  • EGYPT TENDER: Social club project

    Carrying out integrated and electromechanical works for the implementation of a club’s new social zone. Closing date: 1 January 2009
  • EGYPT TENDER: Social club project

    Carrying out integrated and electromechanical works for the implementation of a club’s new social zone. Closing date: 1 January 2009
  • EGYPT TENDER: Steam turbine generators and condensers

    Carrying out a steam turbine generators, condensers and auxiliaries package for a thermal power plant project. Closing date: 22 January 2009
  • EGYPT TENDER: Thermal power plant pumps and drives

    Supply of pumps and drives for a gas-oil fired thermal power plant. Closing date: 30 November 2008
  • EGYPT TENDER: Vehicles

    Supply of vehicles. Closing date: 11 December 2008
  • EGYPT TENDER: Vehicles

    Supply of vehicles. Closing date: 11 December 2008
  • EGYPT TENDER: Wind farm consultancy services

    Provision of consultancy services for a 200MW wind farm. Closing date: 6 November 2008
  • Egypt, Libya and Sudan join free trade zone

    Egypt, Libya and Sudan are joining a new free trade area in Africa, along with 23 other countries.
  • Egyptian cement producers need new markets, says Hegazy director

    Huge capacity increases in the next three years coupled with lower demand in Europe means the Egyptian cement industry will have to find new export markets, the director of Egypt’s Hegazy & Company Khaled Hegazy told MEED’s Middle East Cement & Concrete 2008 Conference in Dubai on 29 October.
  • Egypt's tourism revenue to decline, minister says

    Egypt's minister of tourism said he expects tourism levels to fall this year in Egypt because of the global financial crisis and its impact on the country's economy, Bloomberg has reported. Zohair Garanah warned that the country's tourism industry, especially the private sector, is 'panicking' because of the economic turmoil and is starting a price war, which will harm the industry in the long run. He acknowledged that there could be a decline in demand, but said the country has to manage the
  • Eight V hotels for Middle East

    Owner of the V boutique hotel brand, Baron Jean van Gysel de Meise, has said he hopes to open up to eight more V hotels in the Middle East, split between coastal and city locations. The next V (which stands for Vejer) hotel is scheduled to open is in Qatar. A V consisting of 18 luxury villas is also being built on Greece in Nakheel's World islands, plus he said he plans another V elsewhere in Dubai.
  • El-Sewedy Cables delays smelter project

    Egypt’s El-Sewedy Cables has announced it will delay a planned copper smelter project as a result of current market conditions.
  • Emaar and Al-Shoala Group to develop $7bn mixed-use project

    The UAE’s Emaar Properties has established a joint venture with Saudi Arabia’s Al-Shoala Group to develop a mixed-use project in Riyadh.
  • Emaar and Al-Shoala Group to develop $7bn mixed-use project

    The UAE’s Emaar Properties has established a joint venture with Saudi Arabia’s Al-Shoala Group to develop a mixed-use project in Riyadh.
  • Emaar delays opening of Dubai Mall

    Local developer Emaar Properties has delayed the opening of its Dubai Mall project again.
  • Emaar delays opening of Dubai Mall

    Local developer Emaar Properties has delayed the opening of its Dubai Mall project again.
  • Emaar dominates trading on Dubai Financial Market

    Emaar, the UAE's largest real estate developer, dominated trading on the Dubai Financial Market (DFM) over the past week, accounting for 45 per cent of trading as it fell 11 per cent to close at AED5.34 ($1.45) a share.
  • Emaar tenders Downtown Burj Dubai towers

    Local developer Emaar Properties has invited selected contractors to bid by the end of October for a contract to build two towers at its Downtown Burj Dubai development.
  • Emaar tenders Downtown Burj Dubai towers

    Local developer Emaar Properties has invited selected contractors to bid by the end of October for a contract to build two towers at its Downtown Burj Dubai development.
  • EMAL installs first steel beam for smelter

    Emirates Aluminium has installed the first structural steel for the potrooms of the world's largest, single-site aluminium smelter complex currently under construction in Al Taweelah, Abu Dhabi. When complete, the EMAL potrooms will comprise 32,000 tonnes of steel, supplied by Saudi Arabian company, HIDADA and installed by their UAE subcontractor AMANA, both of whom attended the installation of the first structural steel at EMAL. The EMAL smelter is being built in two phases and when complete
  • Emal launches study for Taweelah smelter expansion

    Emirates Aluminium (Emal) has launched the pre-feasibility study for the second phase expansion of its planned aluminium smelter at Taweelah in Abu Dhabi emirate.
  • Emirates' 2nd A380 arrives

    Emirates Airline has received the delivery of its second Airbus A380 superjumbo on Friday, bringing its all wide-bodied aircraft fleet to 122, inclusive of freighters, the airline has said in a statement.
  • Emirates Communications head quits business

    Mike Simons, Divisional Vice President for Corporate Communications in Emirates Airlines, is leaving the company by October next year, according to Media Week. Simons has been with Emirates Airlines for 20 years and had a key rols in the company's sponsorship program including the Chelsea FC and Arsenal Emirates Stadium deals.
  • Emirates expects strong demand for Dubai-LA link

    Emirates said it expects an average of more than 80% passenger load factor for its new Dubai-Los Angeles route, reported Gulf News. The carrier launched the Middle East's first direct air link to the US west coast earlier this week. Keith Longstaff, Emirates Senior Vice-President, commercial operations, Europe, said currently the carrier has nearly 100% demand for first and business class on the route, while in the economy segment the average passenger load factor will be in excess of 80%.
  • Emirates flight makes emergency landing in Perth

    An Emirates Airline jet was forced to make an emergency landing in Australia on Thursday after a burning smell was detected on board. The nature of the problem was not immediately known. Emirates flight EK425 carrying 120 passengers from the Western Australia city of Perth to Dubai returned to Perth and touched down without incident about two hours after takeoff. Aircraft engineers are investigating the cause of the burning smell, reported AP.
  • Emirates Insurance plans to expand in UAE

    Emirates Insurance Company, the UAE insurer, is planning to expand outside its traditional Abu Dhabi base in a bid to capture more of the growing insurance market in the country.
  • Emirates International approaches firms for National Holding tower deal

    Emirates International Investment Company has approached selected contractors for the contract to build the National Holding headquarters at the Abu Dhabi National Exhibition Centre (Adnec).
  • Emirates International approaches firms for National Holding tower deal

    Emirates International Investment Company has approached selected contractors for the contract to build the National Holding headquarters at the Abu Dhabi National Exhibition Centre (Adnec).
  • Emirates launches service to LA

    Emirates has become the Middle East's first airline to link the region with the US West Coast. The non-stop service to Los Angeles left Dubai at 08.30am on Sunday 26 October 2008. The Emirates Boeing 777 flight is expected to arrive in Los Angeles at 13.30pm on the same day. The new service is aimed at targeting the large concentration of people of Middle Eastern and South Asian origin based in LA and other West Coast cities.
  • Emirates NBD reports profits rise despite $74m writedown

    Emirates NBD has reported a 13 per cent increase in profits to AED1.02bn ($277.7m) during the third quarter of the year, despite making a AED273m writedown to its investment portfolio.
  • Emirates reduces prices up to 35%

    Emirates Airline has revised its business and economy Class fares for tickets issued in the UAE to more than a dozen popular destinations, including cities in India, Europe, the Middle East and the Far East. Reflecting the further softening of fuel prices, this latest move will see fares reduced by between seven to 35% on selected Emirates flights, including Amman, Damascus, Bangkok, Mumbai, Kozhikode, Paris, Colombo, Cochin, Delhi, Frankfurt, Munich, Hong Kong, Hyderabad, Chennai, Thiruvanan
  • Emirates says expansion will continue

    Government-owned Emirates Airline said today the global financial crisis will not curb the airline's expansion plans, reported Reuters. Emirates chairman Sheikh Ahmed bin Saeed al-Maktoum was quoted as saying, 'we have no problem in our aircraft financing,' while he visited the Cityscape property exhibition in Dubai.
  • Emirates Shipping up for awards

    Emirates Shipping Line has been nominated as a finalist for the Ship Owner/Operator of the year award in the Seatrade Middle East and Indian Subcontinent Awards 2008. It has also been nominated for the Asia Pacific Shipping Liner Excellence Award category at the Supply Chain Management Logistics Excellence Awards 2008. Registered in Dubai Maritime City, its headquarters are in Dubai and Hong Kong. Both are among the busiest shipping ports in the world.
  • Emirates Steel Industries temporarily suspends steel production

    Emirates Steel Industries (ESI), the Abu Dhabi state-owned steel rebar and coil producer, has temporarily suspended production due to the size of steel stocks in the UAE, ESI deputy chief executive officer Sridhar Krishnamoorthy told MEED’s Middle East Steel 2008 conference in Dubai on 13 October.
  • Emirates Terminal 3 opens in Dubai

    Emirates opened its new terminal at Dubai International Airport today to the public. Initially there are limited flights from the Terminal, but by year end all Emirates flights will depart and land at Terminal 3. The first flight will go to Doha. Eventually, once the third concourse is open in 2011, Dubai's airport will be capable of handling 75 million passengers a year.
  • Emirates Terminal 3 opens smoothly

    Dubai International Airport's new $4.5bn Terminal 3 opened smoothly on Tuesday. The first Emirates flight EK843 Dubai-Doha, an Airbus A330-200 with 136 passengers, and 73 pieces of baggage weighing more than 1,000kgs, was flagged off from Gate 213, on time at 14:15 hours. The airport is being opened in four phases, and has undergong several operational trials to ensure a glitch-free transfer of flights to the Emirates Airline dedicated terminal.
  • Emirates to fly daily to Cyprus

    Emirates is to begin daily flights to the Mediterranean island of Cyprus from December 1, representing a further ramping up of the airline's services in Europe. Emirates has flown to Cyprus since 1994 and currently offers a flights from Dubai five times a week. As of December, EK 107 will depart Dubai on a daily basis at 8:15am, arriving in Larnaca at 10:25am.
  • Emirates to fly twice daily to Moscow

    Responding to passenger demand for increased frequencies, Emirates Airline is upping its service to Moscow to flights a day. The extra daily service will start on February 2 next year. The new EK 131 flight will depart Dubai at 5:40 p.m. and arrive in Moscow at 10:0 p.m. The return flight, EK 132, will depart Moscow at 11:40 p.m. and arrive in Dubai at 5:55 a.m. the following day.
  • Emirates to launch Europe flights from new Terminal 3

    From Tuesday afternoon, October 28 all Emirates' flights to Europe, Americas, the GCC, Middle East and Africa will operate from Emirates Terminal 3. This move will escalate operations to 168 daily flights, representing 60% of all the airline's services. All flight numbers in the 000, 100, 200, 700, 800, 900 series and any extra flights on these routes will now depart and arrive at Emirates Terminal 3 at Dubai International.
  • Empower wins Dubai World Trade Centre district cooling deal

    The Emirates Central Cooling Systems Corporation (Empower) has been awarded the contract to provide district cooling to the Dubai World Trade Centre redevelopment.
  • Empower wins Dubai World Trade Centre district cooling deal

    The Emirates Central Cooling Systems Corporation (Empower) has been awarded the contract to provide district cooling to the Dubai World Trade Centre redevelopment.
  • ESI revenue grows 135%

    Emirates Steel Industries has reported a 135% jump in third-quarter revenue to Dhs3bn ($817m), up from Dhs1.3bn for the same period last year. Total production for ESI to the end of the third quarter of this year reached approximately 770,000 tonnes, compared to 540,000 tonnes in the same period last year, a growth of 43% in production, chairman Hussain Al Nowais said in a statement.
  • Etihad delays financing talks over plane deliveries

    Etihad Airways is to unveil the finance facility for two new aircraft by the end of October, but has delayed negotiations on financing for other deliveries to allow global financial markets to settle.
  • Etihad gets new full-flight simulator

    Etihad Airways has expanded its pilot training facilities in Abu Dhabi with the arrival of its first A320 full-flight simulator from Canadian manufacturer, CAE. The new A320 FFS is equipped with state-of-the-art electric motion and control loading systems, and uses satellite imagery, as well as sophisticated weather and lighting effects, to provide realistic training scenarios for pilots. Furthermore, the advanced databases installed on the FFS provide the pilots with the exact specifications
  • Etihad launches holidays to Russia promotion

    Etihad Holidays will launch its first holidays to Russia in its latest promotion which also includes breaks at more than 50 hotels in 12 major cities around the world. Holidays to Moscow start from Monday 1 December, when Etihad launches its first flight to the Russian capital. Every customer who books and pays for one of the holidays before Friday 31 October will be entered into a draw to win the cost of their holiday back, including taxes and charges.
  • Etihad passenger numbers up 35%

    Etihad Airways has reported a 35% rise in passenger numbers in the first nine months of this year compared to the same period last year. The Abu Dhabi-based airline carried 4.4 million passengers across its current network of 48 destinations, compared to 3.3 million for the same period in 2007 between January 1 and September 30. Seat factors in the same period averaged of 75%, representing a year-on-year increase of seven percentage points, the airline said in a statement.
  • Etihad to move to third Abu Dhabi airport terminal

    Etihad Airways expects to begin moving operations to the third terminal at Abu Dhabi International Airport by the end of 2008.
  • Etihad to up winter schedule

    Etihad will increase its scheduled routes for the winter season, with new services being offered to Moscow and Almaty in Kazakhstan. The UAE national carrier will also increase flights to current routes, upping the Heathrow service to three times daily and the Kuwait service to 19 times a week.
  • Etihad, Sri Lankan expand agreement

    Etihad Airways is to provide customers with access to the the Maldives following an extension of its existing codeshare agreement with Sri Lankan Airlines. Under the deal the Abu Dhabi-based airline will place its two-letter 'EY' code on all of Sri Lankan Airlines' services between the Sri Lankan capital of Colombo and Mahe, the main city in the Maldives. Etihad has code-shared with Sri Lankan Airlines since September 2007, an agreement that up until now has only applied to flights between Ab
  • Etisalat profits increase to $580m

    Etisalat, the UAE telecoms operator, generated AED2.1bn ($581m) of net profits in its third quarter, an 18.5 per cent increase on the same period in 2007.
  • Etisalat to buy stake in Iraq's Korek Telekom

    Etisalat, the UAE telecoms operator, will soon take a stake in Kurdish operator Korek Telecom, according to a statement by Etisalat chairman Mohammad Hassan Omran.
  • EU and Morocco to sign trade deal

    The European Union and Morocco expect to reach agreement on a free-trade deal for agricultural produce before the end of 2008, according to a joint statement issued on 14 October.
  • Experts urge UAE to adopt national environmental building standards

    The UAE must ensure a universal environmental building rating system if there is to be a successful environmentally-sustainable construction sector, according to industry experts.
  • Experts urge UAE to adopt national environmental building standards

    The UAE must ensure a universal environmental building rating system if there is to be a successful environmentally-sustainable construction sector, according to industry experts.
  • F5 launches new data management products

    F5 Networks has expanded its Data Solutions portfolio with the F5 ARX4000 and Data Manager solutions. The ARX4000 is part of F5's family of intelligent file virtualisation platforms and supports 10 gigabit Ethernet. F5 Data Manager lets customers look in detail at their file storage, including usage patterns and trends, which can be used to identify potential optimisations and cost savings.
  • Ferry service planned for Dubai-Sharjah

    A new ferry service is being developed to connect the UAE emirates of Dubai and Sharjah, Khaleej Times has reported. The Dubai Ferry service, which is slated to start its experimental runs on the Dubai Creek from October next year, will connect the neighbouring emirates at a later stage, Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads and Transport Authority said on Monday. The first phase of the project would see 10 ferries, which will carry 100 passengers each, ge
  • Financial crisis hits regional stock markets

    Egypt's Case 30 index suffered its largest ever one-day fall during the past week, dropping by more than 16 per cent on 7 October and finishing 20 per cent down over the week as a whole.
  • Financial crisis threatens plans for sustainable buildings

    The global financial crisis could threaten the region’s move to a more sustainable approach to building and construction according to Keith Clarke, chief executive officer of the UK’s Atkins.
  • Financial crisis threatens plans for sustainable buildings

    The global financial crisis could threaten the region’s move to a more sustainable approach to building and construction according to Keith Clarke, chief executive officer of the UK’s Atkins.
  • Findwhere issues Arabic GPS

    Following the announcement of its agreement with Dubai-based I2TC, GPS real time tracking company Findwhere has announced that it now provides an Arabic language website www.findwhere-me.com
  • Firms bid for Qatar north coast gas field

    Qatar Petroleum (QP) has received bids from at least six international oil companies (IOCs) for the first new gas acreage in the country in several years, with an award expected by December.
  • Firms set to prequalify for Abu Dhabi sewer project

    Companies have submitted prequalification documents for the AED2bn ($545m) deep-tunnel sewer project in Abu Dhabi emirate.
  • Firms set to prequalify for Abu Dhabi sewer project

    Companies have submitted prequalification documents for the AED2bn ($545m) deep-tunnel sewer project in Abu Dhabi emirate.
  • Firms to submit bids for Jizan Economic City work

    A number of local contractors have been invited to submit bids for infrastructure work at Jizan Economic City.
  • Firms to submit bids for Jizan Economic City work

    A number of local contractors have been invited to submit bids for infrastructure work at Jizan Economic City.
  • Five firms line up for Oman sewage work

    Five companies have purchased tender documents for the construction of a sewage network system at Barka South in Al-Batinah province, by the 8 October deadline.
  • Foster Wheeler confirms Libyan refinery deal

    The US’ Foster Wheeler has been awarded a project management and consultancy contract for the development of a $4bn, 200,000-barrel-a-day (b/d) refinery in western Libya, which stalled earlier in 2008 after bankers pulled out of exploratory talks.
  • Foster Wheeler wins In Salah gas deal

    The US’ Foster Wheeler has been awarded a front-end engineering and design (FEED) contract by the UK’s BP for second phase work on the In Salah zone in the southern Sahara area of Algeria.
  • Foster Wheeler wins Libya refinery deal

    The US’ Foster Wheeler has won a project management deal for the development of a 200,000-barrel-a-day (b/d) refinery in western Libya which stalled earlier this year after bankers pulled out of exploratory talks.
  • Foulath invests $3.4bn in regional steel projects

    Foulath, the Bahrain-based steel company, is pressing ahead with three new iron pelletising plants and a fully-integrated steel plant in a $3.4bn investment programme, MEED’s Middle East Steel Conference 2008 in Dubai was told on 13 October.
  • Four groups shortlisted for Qatar National Bank tower

    At least four contracting groups have been shortlisted for the contract to build the 510-metre tall Qatar National Bank (QNB) headquarters in Doha. When complete the tower will be one of the tallest buildings in the world.
  • Four groups shortlisted for Qatar National Bank tower

    At least four contracting groups have been shortlisted for the contract to build the 510-metre tall Qatar National Bank (QNB) headquarters in Doha. When complete the tower will be one of the tallest buildings in the world.
  • Fraud to cost Gulf billions of dollars

    A survey by KPMG has concluded that losses resulting from financial crime in the region are likely to be billions of dollars each year.
  • French and Qatari companies set up utility firm

    Qatari Diar and Qatar’s Barwa have signed an agreement to establish a multi-utility company in Qatar with two French companies, GDF Suez and Suez Environment.
  • Fuel costs curb Emirates's profits

    A senior official at Emirates Airlines said the carrier is likely to post little or no profit for the past six months due to high fuel costs, reported The National. Keith Longstaff, the divisional senior vice president of commercial operations worldwide at Emirates, said the carrier is not going to post a loss, but is not going to see too much of a profit, either. Last year the airline earned $1.37bn in net profits. The carrier's prospects are looking brighter because fuel prices have fallen
  • Galsi gas pipeline scheme set to go ahead

    The scheme to export Algerian gas to Italy is to move ahead, with further details emerging on the scope of work on the project.
  • GE launches new digital cameras

    General Electric launched a range of digital cameras into the Middle East today at Gitex. The A, G and E ranges comprise seven cameras in total, from seven to 12 mega pixels. All the cameras include blink and smile recognition technology built into the face detection system and can create panoramic images by stitching together up to three photos. The cameras will be distributed by retail outlet Sharaf Electronics.
  • Gitex Shopper kicks off today

    Gitex Shopper, the consumer electronics and IT products sale and promotional event is opening today, Saturday at the Dubai Airport Expo. The exhibition will showcase consumer brands of IT products, peripherals and components.
  • Global Investment House loan priced

    Global Investment House is close to finalising a $410m syndicated loan at margins of 215 basis points over the London interbank offered rate (libor), after the lead arrangers increased the pricing on the deal by 40 basis points.
  • Government delays Algerie Telecom privatisation

    The Algerian government has delayed the privatisation of Algerie Telecom, the state-owned fixed-line and mobile phone operator, for two to three years, according to its chief executive officer Moussa Belhamadi.
  • Grand View Hotel Apartments opens in Abu Dhabi

    Garden View Hotel Apartments, built at a cost of Dhs85m ($23m), was officially opened yesterday in Abu Dhabi. Located on Khalifa Street, the property is owned by the Al Fahim Group conglomerate. It offers 42 units that are equally split between three and four bedroom suites, reported Gulf News.
  • Grosvenor House named the Best New Business Hotel in the World'

    Grosvenor House Dubai won the award of 'Best New Business Hotel in the World', during the annual 2008 Business Traveller Awards held at the London Hilton Park Lane recently. The hotel receives this award for the second consecutive year. The awards comprise forty-six categories including hotels, airlines and the very best of business travel.
  • Groups submit bids for second Duqm airport package

    Bids have been submitted by 15 local and international groups for the second construction contract at Duqm International Airport.
  • Gulf Air holds pay talks with staff

    Gulf Air has launched preliminary discussions with staff and union representatives over increasing salaries and introducing a range of new employee benefits.
  • Gulf air passenger traffic decreases

    Passenger traffic in the Middle East fell by 2.8 per cent during September, the first such drop in over four years.
  • Gulf Air promotes finance chief

    Gulf Air has promoted its chief financial officer, Ismail Karimi, to deputy chief executive officer in the latest stage of the airline’s restructuring plan.
  • Gulf Bank chairman resigns after losses

    The chairman of Kuwait's Gulf Bank, Bassam al-Ghanim, has resigned following revelations that the bank had suffered losses from derivatives trading and the Central Bank of Kuwait stepped in to support the lender.
  • Gulf Bank's rating under review

    Kuwait's Gulf Bank has been placed on review for a possible downgrade by US-based credit ratings agency, Moody's Investors Service.
  • Gulf Contracting wins Doha International Airport work

    The local Gulf Contracting Company has been awarded contracts estimated to be worth QR600m ($163m) at Doha International Airport.
  • Gulf Contracting wins Doha International Airport work

    The local Gulf Contracting Company has been awarded contracts estimated to be worth QR600m ($163m) at Doha International Airport.
  • Gulf Keystone survey reveals large Iraq reserves

    UK-listed company Gulf Keystone Petroleum estimates reserves of up to 2 billion barrels of oil are in place at its Shaikan block in Kurdistan following the completion of a 2D seismic survey.
  • Gulf Navigation Q3 profit doubles

    Gulf Navigation Holding, a marine transportation company, has reported that its third-quarter profit more than doubled despite a slowdown in the shipping sector, Gulf News has reported. Its profit for the July-September period this year was Dhs161.1m ($43.9m) compared with Dhs20.5m for the corresponding quarter in 2007. The company also reported a 100% jump in profit to Dhs136.9m for the first nine months of 2008. Its revenues increased by 77% to Dhs306.4m.
  • Gulf projects 13 October 2008

    The MEED Projects index surged by almost 8 per cent to $2.76 trillion in the week to 13 October, as a result of a handful of major real estate developments being launched at the Cityscape exhibition in Dubai.
  • Gulf projects 20 October 2008

    The MEED Projects index grew by 2.6 per cent in the week to 20 October to reach $2.83 trillion.
  • Gulf projects 29 September 2008

    The MEED Projects index was virtually unchanged in the run-up to the Eid al-Fitr holidays, rising by just 0.2 per cent to $2.55 trillion in the week to 29 September.
  • Gulf projects 6 October 2008

    The MEED Projects index was up by 0.4 per cent to $2.56 trillion in the week to 6 October.
  • Gulf stock exchanges urged to merge

    Stock exchanges in the Middle East need to accept that mergers are inevitable and co-operate more to develop harmonised regulations, according to industry executives speaking at MEED’s Capital Markets conference in Dubai on 21 October.
  • Hadeed to develop steel facility in Saudi Arabia

    Saudi Iron & Steel Company (Hadeed) is to develop a new steel production facility in the kingdom, according to Hisham Abdullatif al-Hmili, general manager of steel products, sales and marketing at the firm.
  • Hadeed wins contract to build workshop

    Hadeed Emirates, a UAE industrial contractor, has begun construction on a new state-of-the-art vessel manufacturing workshop for Abu Dhabi Ship Building Company. The construction cost of the workshop, which will be used to perform outfitting on a range of different vessels, is estimated at Dhs35m ($9.5m). Sameer Dabbas, CEO of Hadeed Emirates said the new workshop will extend an area of 15000 square meters, and will completed and ready for use by the fourth quarter of 2009.
  • Hard Rock to build hotel in Abu Dhabi

    Hard Rock Hotels plans to develop its second hotel in the UAE, Hard Rock Hotel Abu Dhabi, with the Tasameem Group. Late last year the two companies announced plans for a Hard Rock Hotel in Dubai. The five-star hotel will be situated on the Al Meena Road, which is currently being rebuilt as a centre for shopping, entertainment, leisure and hospitality in Abu Dhabi, according to a statement.
  • Hitachi, HK Consulting tie up

    Hitachi Global Storage Technologies has partnered with Dubai-based HK Consulting for the expansion of its hard drives sales in the Middle East. HK Consulting will provide product promotion services with distributors, resellers and integrators to increase demand for Hitachi hard drives across the region.
  • Hospitality Management plans 4,000 new rooms

    Hospitality Management Holdings, the UAE-based hotel management company, has announced 35 new projects, across the Middle East and North, South and East Africa, which will bring 4,000 additional rooms to their portfolio. The value of HMH projects currently under development is estimated at over Dhs4.5bn ($1.2bn), company officials said. Michel Noblet, managing director, HMH, said the company's objective is to have 100 hotels by 2012.
  • HP notebook breaks 24-hour battery life barrier

    HP Middle East is rolling out a new notebook computer that offers up to 24 hours of continuous operation on a single battery charge. As measured by an industry standard benchmark, the new HP EliteBook 6930p configured with an optional ultra capacity battery delivered up to 24 hours of battery runtime, the company said. The notebook features a 14.1-inch diagonal widescreen display and is available with an optional, mercury-free Illumi-Lite LED display.
  • HSBC wins advisory work at King Abdullah Economic City

    Emaar the Economic City has confirmed that it has appointed HSBC as financial adviser on the development of infrastructure projects at King Abdullah Economic City, in a contract expected to involve raising $15bn of financing.
  • Hyundai wins $1.7bn order

    Hyundai Heavy Industries has been granted a $1.7bn order to build a power and desalination plant in Bahrain. The expected completion date for the project is mid-2011 and the plant will be able to produce 213m litres of water a day.
  • IBM, Intel form JV in Dubai Internet City

    IBM and Intel are opening a high performance computing centre at IBM's Dubai Internet City building to address the needs of local companies who want to test out their applications, reported Gulf News. High performance computing is the use of a number of computers to run 'extremely performance intensive applications'. The machines can reduce the amount of time it takes to get results from months and weeks to days and even hours.
  • IEC launches Dubai chemical industry show

    Dubai-based exhibition organizer International Expo Consultants (IEC) has launched the Process Plant & Machinery Middle East (PPME) trade show, which will run December 7-8, 2009 at the Dubai World Trade Centre. The show, which will focus on process technology and equipment for the petrochemicals and chemicals industry, will be held in conjunction with the ChemSpec chemicals show, organized by DMG World Media.
  • Inflation threatens Jordanian economy

    Jordan's high rate of inflation threatens the stability of the economy and the society, according to Moody's, a US credit ratings agency.
  • Insulock Block deal for Riyadh

    American Insulock has signed a Letter of Intent to build a manufacturing facility for building materials in Riyadh. American Insulock, PolyLink, its polyurethane manufacturing partner, and Saudi-based contractor Al-Mobty have agreed to set up a joint venture to manufacture Insulock Block in the kingdom. PolyLink will provide the technology and equipment, Al-Mobty the facility, capital, construction expertise, marketing and regional relationships, and Insulock the building technology and new p
  • Intel buys stake in Dubai software firm

    US-based Intel, the world's largest semiconductor company, said it has made its first major investment into a software company based in the Middle East, Gulf News has reported. The company, called Sphere Networks, which is located in Dubai Silicon Oasis, currently has a staff of 26 people and provides network management software. Current clients include municipalities in Saudi Arabia and Jordan and the Abu Dhabi Chamber of Commerce. Feroz Sanaulla, Intel's director of capital for the region,
  • Investors launch sharia-compliant bank in Bahrain

    A group of regional investors have launched the sharia-compliant First Investment Bank with authorised capital of $200m and paid-up capital of $120m.
  • Iran and India discuss shipping and ports co-operation

    Iran and India have held talks in Tehran over improving co-operation in the shipping and ports sectors.
  • Iran and Qatar agree gas co-operation deal with Russia

    Iran, Qatar and Russia, which collectively hold more than half of the world’s gas reserves, have created a new technical committee to examine trilateral co-operation on gas supplies.
  • Iran and Qatar consider gas alliance with Gazprom

    Iran and Qatar are to meet with the head of Russian oil giant Gazprom on 21 October to discuss potential gas co-operation opportunities.
  • Iran and Russia hold talks over aircraft production

    Iranian aviation groups and government officials are holding a new round of talks with their Russian counterparts to discuss Iran’s licensed production of Russian Tupolev aircraft.
  • Iran invites firms to prequalify for $3bn oil and gas tender

    The state-run Iranian Central Oil Fields Company (ICOFC) has invited firms to prequalify for a tender worth an estimated $3bn, for the development of seven onshore oil fields and five onshore gas fields.
  • Iran offers to stop nuclear enrichment in exchange for fuel

    Tehran will consider ending domestic uranium enrichment if it can import nuclear fuel from overseas, according to Iran’s envoy to the International Atomic Energy Agency (IAEA).
  • Iran reveals cement export plans

    Iran is planning to begin large-scale exports of cement for the first time, Iran’s deputy industry minister Mohammed Basiri told MEED’s Cement & Concrete 2008 Conference in Dubai on 29 October.
  • Iran reveals cement export plans

    Iran is planning to begin large-scale exports of cement for the first time, Iran’s deputy industry minister Mohammed Basiri told MEED’s Cement & Concrete 2008 Conference in Dubai on 29 October.
  • IRAN TENDER: Aluminium fluoride

    Supply of aluminium fluoride. Closing date: not stated
  • IRAN TENDER: Casing pipes

    Supply of casing pipes and equipment. Closing date: not stated
  • IRAN TENDER: Catalyst

    Supply of catalyst. Closing date: 3 November 2008
  • IRAN TENDER: Catalyst regeneration

    Provision of the regeneration on 85,000 kilos of catalyst for an isomax unit. Closing date: not stated
  • IRAN TENDER: Chemicals

    Supply of PMHP chemicals. Closing date: 8 November 2008
  • IRAN TENDER: Control valves

    Supply of control valves. Closing date: 28 October 2008
  • IRAN TENDER: Corrosion inhibitor

    Supply of zinc phosphonate corrosion and cale inhibitor. Closing date: 18 October 2008
  • IRAN TENDER: Deck decompression chamber

    Supply of a deck decompression chamber. Closing date: not stated
  • IRAN TENDER: Drill test equipment

    Supply of drill test equipment. Closing date: 4 November 2008
  • IRAN TENDER: Drill test equipment

    Supply of drill test equipment. Closing date: 4 November 2008
  • IRAN TENDER: Drilling rig management services

    Provision of manning and management services of Alborz drilling rig. Closing date: not stated
  • IRAN TENDER: Ferro vanadium

    Supply of ferro vanadium. Closing date: 31 October 2008
  • IRAN TENDER: Gas pipeline

    Construction of six kilometres of eight-inch gas pipeline. Closing date: not stated
  • IRAN TENDER: Insulation and calcium silicate pipe

    Supply of insulation and calcium silicate pipe. Closing date: 24 November 2008
  • IRAN TENDER: Metallurgical coke (Closing date extension)

    Supply of 10,000 tonnes of metallurgical coke. New closing date: 28 October 2008
  • IRAN TENDER: Oil and gas field development

    Development, on a buy-back contract basis, of seven onshore oil fields and five onshore gas fields. Closing date: 19 November 2008
  • IRAN TENDER: Rails

    Supply of 60,000 tonnes of rails. Closing date: 13 December 2008
  • IRAN TENDER: Research equipment

    Supply of equipment as part of a research facilities expansion project. Closing date: 7 December 2008
  • IRAN TENDER: Steel pipes

    Supply of seamless alloy steel pipes. Closing date: 5 November 2008
  • IRAN TENDER: Tanker handling and fire-fighting tug boats

    Supply of tanker handling and fire-fighting tug boats. Closing date: 21 October 2008
  • IRAN TENDER: Wastewater treatment plant and collection network

    Provision of a wastewater treatment plant and collection network. Closing date: 16 November 2008
  • IRAN TENDER: Water management monitoring equipment

    Supply of water quality field sampling monitoring equipment and laboratory equipment. Closing date: 22 December 2008
  • IRAN TENDER: Wire line

    Supply of wire line. Closing date: not stated
  • Iranian inflation nears 30 per cent

    Iran's annual inflation rate is close to 30 per cent, according to new figures from the Central Bank of Iran.
  • Iran's non-oil exports increase 10 per cent

    Iran's non-oil exports for the six months to 21 September, the first half of the Iranian year, were up 10 per cent on the same period in 2007 thanks to a tripling in exports of saffron and car parts.
  • Iraq completes Umm Qasr port study

    Iraq has completed a study for a port at Umm Qasr in the southern Basra province.
  • Iraq invites Czech investment

    The Iraqi Transport Minister, Amir Abduljabbar, has invited Czech companies to invest in the development of the country's transport infrastructure. Talks with the Czech ambassador centered around investment in Basra Major Port and al-Furat al-Awsat International Airport.
  • IRAQ TENDER: Dam monitoring equipment

    Supply of monitoring equipment for dams as part of an emergency hydropower project. Closing date: 25 February 2009
  • IRAQ TENDER: Drilling and workover rig spares

    Supply of spare parts for drilling and workover rigs. Closing date: 5 November 2008
  • IRAQ TENDER: Hospital rehabilitation consultancy

    Provision of engineering consultancy services for the rehabilitation of a hospital. Closing date: 27 October 2008
  • IRAQ TENDER: Hydropower project switchyard works

    Refurbishment of switchyard for a hydropower project. Closing date: 15 January 2009
  • IRAQ TENDER: Vocational training centre equipment

    Supply of automotive, electronic, air-conditioning equipment and workshops. Closing date: 2 November 2008
  • Iraqi MPs continue to debate election law

    Iraqi MPs are continuing to debate the provincial elections law passed by parliament on 24 September, with several predicting further amendments will be needed.
  • Italians to build Fujairah storage tanks

    Italy’s Belleli has been awarded the $160m storage tanks subcontract on the Abu Dhabi Crude Oil Pipeline (Adcop) project aimed at transporting crude from Abu Dhabi to Fujairah on the federation's east coast.
  • Jamie Oliver inks Leisurecorp agreement

    Jamie Oliver has signed a deal with Leisurecorp that will see the British celebrity chef design kitchens in partnership with luxury brand Poggenpohl. Oliver will also open two new restaurants in the Water neighbourhood of the Jumeirah Golf Estates development.
  • Jazeera Airways launches aircraft leasing firm

    Jazeera Airways, which operates hubs in Kuwait and Dubai, has launched an aircraft leasing company, Sahaab Leasing.
  • Jazeera Airways to fly to Doha

    Kuwait and Dubai based airline Jazeera Airways, announced today that it will begin flying to Qatar's capital - Doha, commencing October 30th. Jazeera Airways is the first low fare carrier to operate non-stop flights between Kuwait and Doha, and will fly six times weekly: every Tuesday, Thursday and Saturday, early morning and late evening.
  • Jazeera launches aircraft leasing company

    Jazeera Airways launched an aircraft leasing joint venture company today. Called Sahaab Leasing it is backed by $375m of capital from the three partners - Jazeera, National Bank of Kuwait Capital and DVB Bank, a European bank that specialises in the transport sector. Sahaab will focus on the Middle East, and plans to have between 40 and 50 Airbus and Boeing narrow and wide bodied aircraft either in service or on order by 2012. Jazeera Airways CEO Marwan Boodai told AME Info that some of those
  • Jazeera to boost fleet to 36 planes

    Jazeera Airways plans to boost it fleet to 36 airplanes and increase its destinations to 84 in the coming few years, reported Gulf News. Marwan Boodai, chairman and CEO of the airline, said Jazeera is looking to add another hub to facilitate an increased number of flights to many additional destinations in and around the Middle East. The airline plans additional flights from its two hubs in Kuwait and Dubai to new cities in Iran, Pakistan, India, Saudi Arabia and the Levant countries, as well
  • Joint venture takes Fujairah IWPP marine works

    A joint venture of Lebanon’s Arabian Construction Company (ACC) and Hong Kong’s Leader Marine Contracting has been awarded marine works packages totalling AED200m ($54m) on the Fujairah F2 Power and Desalination Plant project.
  • Joint venture takes Fujairah IWPP marine works

    A joint venture of Lebanon’s Arabian Construction Company (ACC) and Hong Kong’s Leader Marine Contracting has been awarded marine works packages totalling AED200m ($54m) on the Fujairah F2 Power and Desalination Plant project.
  • Jordan launches hotel guide

    The Jordan Hotels Association has launched the first official hotel and hospitality guide in the kingdom. The 232-page provides addresses, contact information, and other details of 184 hotels across Jordan. It also contains sections on travel agencies, hospitality services and tourist sites in the kingdom.
  • JORDAN TENDER: PPP consultancy services

    Establishment of a facility for providing guarantees in favour of public-private partnership operators Closing date: 24 October 2008
  • JORDAN TENDER: School construction

    Construction of a school for female students. Closing date: 11 November 2008
  • JORDAN TENDER: School construction

    Construction of a school for female students. Closing date: 11 November 2008
  • JORDAN TENDER: Training company restructuring

    Restructuring of a vocational training company. Closing date: 26 October 2008
  • JORDAN TENDER: Visitor centre construction (Closing date extension)

    Construction of a new visitor centre for the Petra gateway project. New closing date: 18 November 2008
  • JORDAN TENDER: Visitor centre construction (Closing date extension)

    Construction of a new visitor centre for the Petra gateway project. New closing date: 18 November 2008
  • JORDAN TENDER: Water distribution network (Mazar)

    Reconstruction of a water distribution network in Mazar. Closing date: 21 January 2009
  • JORDAN TENDER: Water distribution network (Mouta)

    Reconstruction of a water distribution network in Mouta. Closing date: 14 January 2009
  • JORDAN TENDER: Water loss reduction programme (Karak)

    Carrying out a water loss reduction programme project in Karak. Closing date: 11 November 2008
  • Jubail Industrial City

    Jubail Industrial City, which is more than 30 years old, is soon to be expanded by another 54 square kilometres when Jubail 2 is complete.
  • Jumana reopens for third season

    Jumana - Secrets of the Desert is to open for its third season at the Al Sahra Desert Resort. The show will be performed daily from Tuesday to Saturday at 21.00.
  • Jumeirah Hotels' occupancy remains strong

    Dubai-based hotel management company Jumeirah Group, which is owned by the Dubai government, said occupancy at its properties remains strong and expansion plans are on track amid the global financial crisis, reported Bloomberg. Jumeirah, which owns 11 hotels including the Burj Al Arab in Dubai, is enjoying occupancy of 86% in the emirate, said Tony Cousens, senior vice president in charge of Asia Pacific. Interest from potential owners and investors to manage luxury hotels remains strong, he
  • Jumeirah plans 60 hotels by 2012

    Jumeirah Group has announced it will go ahead with its global expansion plan, and will rollout 60 hotels by 2012, despite the global financial crisis, according to a top official of the company, Gulf News has cited. The hotel operator has signed five new hotels in the past two weeks, bringing the total number of new properties under development to 19, while currently managing 11 hotels and resorts.
  • Jumeirah to open hotel in Glasgow

    Dubai-based Jumeirah has announced plans to open a five-star hotel in Glasgow, Scotland. The 25-storey development, which will be located in Glasgow's financial district, will be Jumeirah's fifth hotel signed in Europe and is scheduled to open in 2011. The development will comprise 160 rooms, 85 serviced apartments and a 630-seat ballroom.
  • Kahramaa issues phase 9 power tender

    Qatar General Electricity & Water Corporation (Kahramaa) has issued a tender for power cables as part of the planned phase 9 expansion of the country’s transmission network.
  • Kingdom Holding goes head to head with Nakheel over world's tallest tower

    Saudi Arabia’s Kingdom Holding has unveiled its two major Jeddah projects, to be called Kingdom City and Kingdom Tower - which it claims will be the world's tallest tower.
  • Kingdom Holding goes head to head with Nakheel over world's tallest tower

    Saudi Arabia’s Kingdom Holding has unveiled its two major Jeddah projects, to be called Kingdom City and Kingdom Tower - which it claims will be the world's tallest tower.
  • Kurdistan government receives wind study bids

    The Kurdistan Regional Government has received three bids for the contract to carry out a wind energy feasibility study in Iraq’s three Kurdish governates.
  • Kuwait Airways claims Iraq breaches court order

    A row has broken out in the dispute between Iraq and Kuwait, after the Canadian aircraft manufacturer Bombardier delivered a new plane to Iraqi Airways (IAC) which Kuwait claims breached a court order.
  • Kuwait and Syria agree maritime cooperation

    Kuwait and Syria have held talks in Damascus aimed at boosting cooperation between the two countries in the field of ports and shipping.
  • Kuwait Cement closes $130m loan

    Kuwait Cement has managed to close a $130m syndicated loan, which was increased in size from $75m after it was oversubscribed during syndication.
  • Kuwait central bank lowers interest rate

    The Central Bank of Kuwait has been the first to respond to the latest interest rate cut by the US Federal Reserve (Fed), with the Middle Eastern bank dropping its benchmark rate by 50 basis points to 2 per cent.
  • Kuwait confirms banking sector priority over inflation

    The Central Bank of Kuwait has said that it will continue to act to boost confidence in its domestic banking system, making this a priority above fighting the country’s double digit inflation.
  • Kuwait extends bid deadline for Subiya power plant

    Kuwait’s Water & Electricity Ministry has again extended the bid deadline for the engineering, procurement and construction contract for the Subiya power plant.
  • Kuwait extends Subiya power plant deadline

    Kuwait's Water & Electricity Ministry has extended the bid deadline for the contract to build the Subiya power plant by two weeks to 21 October.
  • Kuwait invites firms to bid for Mina Abdullah water deal

    Seven groups have been invited to submit bids by 18 November for a construction and maintenance contract for a water distribution complex at Mina Abdullah in Kuwait.
  • Kuwait invites firms to bid for Mina Abdullah water deal

    Seven groups have been invited to submit bids by 18 November for a construction and maintenance contract for a water distribution complex at Mina Abdullah in Kuwait.
  • Kuwait Ministry prequalifies firms for girls school

    Kuwait’s Ministry of Public Works has prequalified fifteen firms to bid for the construction, completion and maintenance for a girls’ secondary school.
  • Kuwait Ministry prequalifies firms for girls school

    Kuwait’s Ministry of Public Works has prequalified fifteen firms to bid for the construction, completion and maintenance for a girls’ secondary school.
  • Kuwait Oil Company invites firms to bid for pipeline contract

    The Kuwait Oil Company has prequalified ten local contractors for the construction of a crude oil flow pipeline.
  • Kuwait Oil Company invites firms to bid for pipeline contract

    The Kuwait Oil Company has prequalified ten local contractors for the construction of a crude oil flow pipeline.
  • Kuwait Oil Company issue substation tender

    Ten contractor groups, comprising local and international firms have been prequalified for the construction of a substation in West Kuwait.
  • Kuwait Oil Company issue substation tender

    Ten contractor groups, comprising local and international firms have been prequalified for the construction of a substation in West Kuwait.
  • Kuwait Oil Company issues transmission tenders

    Kuwait Oil Company (KOC) has issued two tenders for the construction of two substation and overhead transmission lines at the Minagish oil field in the west of the country.
  • Kuwait prequalifies 16 firms to bid for school contract

    Kuwait’s Public Works Ministry has prequalified 16 firms to bid for a construction, completion and maintenance contract for a boys' secondary school.
  • Kuwait prequalifies 16 firms to bid for school contract

    Kuwait’s Public Works Ministry has prequalified 16 firms to bid for a construction, completion and maintenance contract for a boys' secondary school.
  • KUWAIT TENDER: Afforestation project

    Development of an afforestation project. Closing date: 16 November 2008
  • KUWAIT TENDER: Bus leasing

    Leasing of buses for the transportation of school students. Closing date: 30 November 2008
  • KUWAIT TENDER: Catalyst material testing equipment

    Supply of stereotype multi-reaction units for testing catalyst materials. Closing date: 14 December 2008
  • KUWAIT TENDER: Crude oil flow pipeline

    Construction of a crude oil flow pipeline. Closing date: 23 December 2008
  • KUWAIT TENDER: Distilled water treatment unit

    Design, supply and installation of a distilled water treatment unit. Closing date: 14 December 2008
  • KUWAIT TENDER: Emitted gases retrieving unit

    Design and installation of an emitted gases retrieving unit. Closing date: 25 November 2008
  • KUWAIT TENDER: Gathering centre flowline works

    Carrying out flowline and associated works for a gathering centre. Closing date: 23 December 2008
  • KUWAIT TENDER: Headquarters building construction

    Construction, completion and maintenance of a permanent headquarters building. Closing date: 21 December 2008
  • KUWAIT TENDER: Headquarters building construction

    Construction, completion and maintenance of a permanent headquarters building. Closing date: 21 December 2008
  • KUWAIT TENDER: Heavy equipment and crane lease

    Leasing of heavy equipment and cranes. Closing date: 2 December 2008
  • KUWAIT TENDER: Infrastructure construction

    Construction, completion and maintenance of infrastructure and buildings. Closing date: 14 December 2008
  • KUWAIT TENDER: Infrastructure construction

    Construction, completion and maintenance of infrastructure and buildings. Closing date: 14 December 2008
  • KUWAIT TENDER: Marine operations

    Provision of specialised technical manpower for marine operations. Closing date: 9 November 2008
  • KUWAIT TENDER: Overhead electricity lines

    Construction of high-tension overhead electricity lines. Closing date: 21 December 2008
  • KUWAIT TENDER: Pipeline route security fence

    Installation of a security fence for a pipeline route. Closing date: 16 December 2008
  • KUWAIT TENDER: Power and water distillation plant renovation

    Renovation of plant and equipment at a power and water distillation station. Closing date: 13 January 2009
  • KUWAIT TENDER: Power cable extension

    Extension and welding of 11kV medium-voltage ground power cables. Closing date: 18 November 2008
  • KUWAIT TENDER: Rainwater drainages design and construction

    Design, construction, completion and maintenance of main rainwater drainages. Closing date: 21 December 2008
  • KUWAIT TENDER: Roads and rainwater drainages construction

    Construction of roads, rainwater drainages and sanitary services. Closing date: 21 December 2008
  • KUWAIT TENDER: Roads and rainwater drainages construction

    Construction of roads, rainwater drainages and sanitary services. Closing date: 21 December 2008
  • KUWAIT TENDER: Substation construction

    Construction of a substation. Closing date: 21 December 2008
  • KUWAIT TENDER: Water distribution complex

    Construction and maintenance of a water distribution complex. Closing date: 18 November 2008
  • KUWAIT TENDER: XLPE cables

    Replacement of 132kV cross-linked polyethylene (XLPE) cables. Closing date: 18 November 2008
  • Kuwaiti to invest in Egypt heavy industry

    Sheikh Nasser al-Kharafi will invest $2bn in two industrial projects in Egypt. One project will produce steel billets directly from ore and the other will extract mineral salts from a lake. The family-run Kharafi Group is one of the biggest foreign investors in Egypt, with interests in energy, fertilisers, agriculture, the food industry and restaurants.
  • Kuwait's Ministry of Electricity & Water issues tender for Doha station

    Seven firms have been prequalified for the design, supply and installation of a distilled water treatment unit at Doha Eastern Power and Water Distillation Station.
  • Kuwait's Ministry of Electricity & Water issues tender for Doha station

    Seven firms have been prequalified for the design, supply and installation of a distilled water treatment unit at Doha Eastern Power and Water Distillation Station.
  • LEBANON TENDER: Medical equipment and furniture

    Supply and installation of medical equipment and furniture for a health centre. Closing date: 11 December 2008
  • LG launches Quran-enabled TV

    The first Quran-enabled TV has recently been launched in the Middle East by electronics giant - LG. The Time Machine plasma TV allows viewers to read the Quran, search and bookmark passages and listen to scriptures — all on screen. The Holy Quran incorporated into the plasma TV includes all of the 114 Suras, allowing users to search for specific suras or verses and bookmark up to 10 favourites.
  • Liberal Air Services Agreement between UAE and Romania

    UAE General Civic Aviation Authority (GCAA) has initialed an "open" Air Services Agreement (ASA) with Romania in Bucharest recently. The two parties signed a Memorandum of Understanding (MoU) and agreed that any number of designated airlines of both parties will have the right to perform scheduled air services. Also, the agreement allows for the operation of any capacities, whether owned or leased by the Designated Airlines of each country in any type of service (passenger or cargo) on the ro
  • LIBYA TENDER: Coring equipment and services

    Provision of coring equipment and services for offshore exploration activities. Closing date: 10 November 2008
  • LIBYA TENDER: Housing maintenance services

    Provision of housing maintenance services. Closing date: 4 November 2008
  • LIBYA TENDER: Housing maintenance services

    Provision of housing maintenance services. Closing date: 4 November 2008
  • LIBYA TENDER: Oil country tubular goods

    Supply of oil country tubular goods for planned offshore drilling operations. Closing date: 5 November 2008
  • LIBYA TENDER: Oil well drilling operations

    Carrying out drilling operations for at least two wells. Closing date: 20 November 2008
  • LIBYA TENDER: Seismic data interpretation

    Processing and interpretation of 3D field seismic data. Closing date: 30 October 2008
  • LIBYA TENDER: Surface logging services

    Provision of onshore and offshore surface logging services. Closing date: 20 October 2008
  • LIBYA TENDER: Wellhead services

    Provision of wellhead services. Closing date: 9 November 2008
  • Libya to invest in European and US equities

    The Libyan Investment Authority (LIA) will diversify its portfolio by investing in overseas equities markets, following the global decline in stock exchanges.
  • Limitless invites tenders for Arabian Canal package

    Local developer Limitless has invited selected contractors to bid by 23 November for the second excavation package on its AED40bn ($10.1bn) Arabian Canal project.
  • Limitless invites tenders for Arabian Canal package

    Local developer Limitless has invited selected contractors to bid by 23 November for the second excavation package on its AED40bn ($10.1bn) Arabian Canal project.
  • Limitless to develop Saudi waterside project

    The UAE’s Limitless is to expand its Saudi operations with the launch of another multi-billion dollar mixed-use waterside project.
  • Limitless to develop Saudi waterside project

    The UAE’s Limitless is to expand its Saudi operations with the launch of another multi-billion dollar mixed-use waterside project.
  • Limitless to issue tender for second Arabian Canal package

    Local developer Limitless is to issue tender documents soon for the second excavation package on its AED40bn ($10.1bn) Arabian Canal project.
  • Limitless to issue tender for second Arabian Canal package

    Local developer Limitless is to issue tender documents soon for the second excavation package on its AED40bn ($10.1bn) Arabian Canal project.
  • Local contractor to build Empower HQ

    The local Al-Basti & Muktha has been awarded the AED550m ($150m) contract to build the Empower headquarters building in Dubai.
  • Local contractor to build Empower HQ

    The local Al-Basti & Muktha has been awarded the AED550m ($150m) contract to build the Empower headquarters building in Dubai.
  • London bourse fails to secure Gulf partnership

    The London Stock Exchange (LSE) has missed out on opportunities to agree a partnership with a Gulf stock exchange, according to Ibukun Adebayo, head of business development at the LSE.
  • Lufthansa launches expanded winter schedule

    Lufthansa German Airlines is expanding its network of flights to the Middle East for this upcoming winter schedule. The carrier will operate six non-stop flights a week on the Abu Dhabi-Frankfurt route and plans to introduce a second daily flight connecting Dubai with Frankfurt. To promote the new improved winter schedule for the region, Lufthansa passengers can avail of an attractive fare starting at Dhs1,099 for flights booked from Abu Dhabi. This offer is available online at Lufthansa.com
  • Lulu island masterplan set to be completed in 2009

    The masterplan for the Lulu island development in Abu Dhabi is expected to be completed in six months.
  • Lulu island masterplan set to be completed in 2009

    The masterplan for the Lulu island development in Abu Dhabi is expected to be completed in six months.
  • Ma'aden, Rio Tinto move forward with aluminum plant

    Saudi Arabian Mining Co and Rio Tinto have not shelved their aluminum venture because of the global financial crisis, al-Riyadh newspaper has reported, citing the Saudi company's Chief Executive Officer Abdallah Dabbagh. Work on the aluminum smelting project is moving ahead as planned, the report said. Saudi Arabian Mining, the Saudi metals producer known as Ma'aden, plans to startup its aluminum venture with Rio Tinto in 2012.
  • Marhaba services go online

    Passengers travelling through Dubai airport can now log on to www.marhabaservices.com to make their booking for Marhaba's meet-and-greet and lounge services with greater ease, speed and efficiency, completing both their booking and payment online. This saves customers' time and eliminates the need to book by phone and visit the airport to make the payment. The whole transaction can now be completed in a matter of minutes using the new online service, according to a press statement.
  • Masdar delays bid deadline for Shams 1 solar plant

    Abu Dhabi Future Energy Company (Masdar) has delayed the bid deadline for the Shams 1 solar power plant by nearly three weeks to 19 October.
  • Masdar invests in UK wind farm

    Abu Dhabi Future Energy Company (Masdar) has signed a joint venture agreement with Germany's Eon, giving it a share in the London Array offshore wind farm.
  • ME emerges as Korea's 3rd largest auto market

    South Korea now exports more cars to the Middle East than to West Europe. The Korea Automobile Manufacturers Association said that in August, five leading South Korean carmakers sold over 25,000 cars in Iran, Saudi Arabia and the UAE, up 1.6% from the previous month. From January and August, South Korea exported over 245,000 cars to the Middle East, more than the 244,000 exported to West Europe. As a result, the Middle East region has become the nation's third largest auto market following No
  • ME travellers flock to Europe

    Middle East arrivals in Europe were in excess of 25 million in 2007, up from 14 million in 2001, making the Middle East market the second fastest growing destination after Asia, in terms of arrivals to Europe, according to Mark Allvey, Global Sales Director of Rocco Forte Collection, Europe's largest luxury hotel chain. Qatar has registered over 300% year on year growth in terms of travellers to Europe, making it the fastest growing market in the Middle East, he added. Qatar is the third larg
  • Meraas launches Jumeira Gardens project

    Dubai-based developer Meraas Development has formally launched its AED350bn ($95bn) Jumeira Gardens project in Dubai.
  • Meraas launches Jumeira Gardens project

    Dubai-based developer Meraas Development has formally launched its AED350bn ($95bn) Jumeira Gardens project in Dubai.
  • Merrill Lynch to expand in Gulf

    Merrill Lynch remains committed to expanding in the region and is expecting to be granted a licence to operate in Qatar and Kuwait by the end of 2008, according to its chief executive officer John Thain.
  • Metito and Berlinwasser form joint venture firm in Dubai

    UAE-based water and wastewater specialist Metito has formed a joint venture company with Germany’s Berlinwasser.
  • Meydan prepares tender for 72-floor tower

    Tender documents are being prepared for the main tower at the Meydan racecourse development, in the Nad al-Sheba area of Dubai.
  • Meydan prepares tender for 72-floor tower

    Tender documents are being prepared for the main tower at the Meydan racecourse development, in the Nad al-Sheba area of Dubai.
  • Middle East Capital Markets event coverage

    MEED's Middle East Capital Markets conference focused on Middle East exchanges, investment and currencies as a potential pocket of growth as the global economy slows down.
  • Middle East contracts awarded: December 2008

    Some $13.7bn worth of contracts were awarded across the Middle East region in December, according to this selected checklist.
  • Middle East contracts awarded: December 2008

    Some $13.7bn worth of contracts were awarded across the Middle East region in December, according to this selected checklist.
  • Middle East contracts awarded: November 2008

    Almost $7.7bn worth of contracts were awarded across the Middle East region in November, according to this selected checklist compiled from MEED reports throughout the month.
  • Middle East contracts awarded: November 2008

    Almost $7.7bn worth of contracts were awarded across the Middle East region in November, according to this selected checklist compiled from MEED reports throughout the month.
  • Middle East contracts awarded: October 2008

    Over $2.5bn worth of contracts were awarded across the Middle East region in October, according to this selected checklist compiled from MEED reports throughout the month.
  • Middle East contracts awarded: October 2008

    Over $2.5bn worth of contracts were awarded across the Middle East region in October, according to this selected checklist compiled from MEED reports throughout the month.
  • Ministry invites bids for Jizan University housing work

    The Higher Education Ministry has invited firms to bid for two construction packages at Jizan University.
  • Ministry invites bids for Jizan University housing work

    The Higher Education Ministry has invited firms to bid for two construction packages at Jizan University.
  • Ministry invites firms to bid for Muscat airport control tower

    The Transport & Communication Ministry has invited companies to bid for the air traffic control tower at Muscat International Airport.
  • Ministry invites firms to bid for Muscat airport control tower

    The Transport & Communication Ministry has invited companies to bid for the air traffic control tower at Muscat International Airport.
  • Monetary fund predicts slower Gulf growth in 2009

    The GCC countries will grow less quickly in 2009 than many economists had forecast, according to the International Monetary Fund's (IMF) latest World Economic Outlook.
  • Morocco expects growth to slow to 5.8 per cent in 2009

    Morocco's Finance Ministry expects the country's rate of growth to slow to 5.8 per cent in 2009, as fears of a deep and lasting recession in Europe, its main export market, continue to grow.
  • Morocco extends Jerada power plant deadline

    State-owned utility Office National de l’Electricite (ONE) has delayed the bid deadline for the project to expand the Jerada power plant to 14 November.
  • Morocco orders military aircaft in $167m deal

    Morocco has ordered four military transport aircraft in a deal worth €130m ($167m).
  • Morocco starts auction for third mobile phone licence

    Morocco's telecoms regulator has started the auction process for the kingdom's third mobile phone licence, which is likely to attract interest from regional and international telecoms operators.
  • MOROCCO TENDER: Diesel power station

    Design, supply of equipment, transport, assembly, testing and commissioning of a diesel power station. Closing date: 12 December 2008
  • MOROCCO TENDER: Water supply project consultancy services

    Provision of consultancy services for a water supply project. Closing date: 19 November 2008
  • Motorola unveils new in-vehicle mobile computer

    Motorola has launched a new in-vehicle/fixed mount mobile computer designed to help maximize driver productivity, reduce costs and improve customer service. The VC6096 enables the collection of business-essential data - including mileage, location, driver performance and vehicle metrics such as hours of service and arrival and departure times. With integrated GPS, the VC6096 provides the asset visibility needed to support real-time location-based applications from directions for drivers to fl
  • M'Sharie buys 51% of Anchor Allied

    M'Sharie, a subsidiary of Dubai Investments, has acquired 51% of Anchor Allied, a Sharjah-based manufacturer of adhesive tapes and specialty adhesives. Anchor, which claims a 60% market share in the UAE, is expected to double its current turn-over of Dhs250m within the next three years, according to a press statement.
  • Murray & Roberts to open steel plant in Dubai

    South Africa's Murray & Roberts Steel plans to open a rebar plant in Dubai Industrial city in May, the company’s chief executive officer Rob Noonan told MEED’s Middle East Steel 2008 conference in Dubai on 13 October.
  • Muscat Airport short-listed for global award

    Muscat International Airport was short listed in the Routes Airport Marketing Award for the Middle East and CIS category which was sponsored by Official Airline Guide. This award is the only travel industry award which rewards excellence in airport marketing to airlines. Muscat International Airport was one of the five airports to be short-listed at the Routes 2008 conference held in Kuala Lumpur, Malaysia.
  • Nakheel and Bharat Hotels break ground on new hotel

    Nakheel broke ground on its first joint-venture project with Bharat Hotels Limited Group, the Grand Fort Dubai. Located at Al Furjan, the hotel will be owned by Cavern Hotel and Resorts, the newly formed joint-venture company. The 293 room hotel is scheduled for completion in 2010 and will feature a range of leisure and business facilities.
  • Nakheel Harbour and Tower

    At the core of the Nakheel Harbour & Tower development is a tower more than a kilometre high and the world's only inner city harbour.
  • Nakheel Harbour and Tower

    At the core of the Nakheel Harbour & Tower development is a tower more than a kilometre high and the world's only inner city harbour.
  • Nakheel plans to build world’s tallest tower

    Nakheel has confirmed details of its tall tower project, previously revealed by MEED in June (MEED 20:6:08).
  • Nakheel plans to build world’s tallest tower

    Nakheel has confirmed details of its tall tower project, previously revealed by MEED in June (MEED 20:6:08).
  • Nakheel signs Waterfront partnership deal

    Saudi Arabia's The Land Holding Real Estate & Development Company has signed a memorandum of understanding with the UAE’s Nakheel.
  • Nakheel signs Waterfront partnership deal

    Saudi Arabia's The Land Holding Real Estate & Development Company has signed a memorandum of understanding with the UAE’s Nakheel.
  • Nakheel tests newly arrived trains in Palm Jumeirah

    Nakheel started today on site testing for its newly delivered monorail trains on Palm Jumeirah - the first monorail service in the Middle East. The two trains, delivered from Japan this weekend, were raised on to the 5.45km track on Palm Jumeirah, and are now making initial test journeys, monitored by the RTA and operators SMRTE.
  • National Bank of Abu Dhabi profits increase 13 per cent

    National Bank of Abu Dhabi has reported a 13 per cent increase in profits during the three months to the end of September to AED576m ($157m), and says it has not made any provisions because of the global credit crisis.
  • National Commercial Bank reports 31 per cent drop in profit

    National Commercial Bank (NCB), the largest bank in Saudi Arabia by assets, has reported a 31 per cent fall in profits during the third quarter due to a drop in the bank’s investment portfolio because of the fall in global financial markets.
  • New government portal launched to boost accountability

    UAE Ministry of Cabinet Affairs launched an online Arabic management web-site under the name of Adaa, meaning preformance in English. The new web-site, which was custom made by Microsoft, entitles Federal entities of submitting performance reports electronically to enable the government of monitoring its progress.
  • New hangar at Bahrain airport

    Gulf Air has signed a deal with Bahrain Real Estate Company (Edamah) to build a hangar at Bahrain International Airport. Construction is slated to begin next year, with completion due in 2011. The facility will accommodate three modern wide-body aircraft and become a maintenance hub for the region.
  • New plans to ease commuter flow in Abu Dhabi

    The Abu Dhabi Urban Planning Council is designing a development strategy to create an efficient flow of commuting traffic to cope with the city's increasing population. The mainland 'Capital City District' will form a second centre and will accommodate up to 380,000 residents. On Abu Dhabi Island, the city centre will also be expanded north-eastwards to encompass Sowwah Island, the redeveloped Mina Zayed port area and parts of Reem Island.
  • New rules to target Dubai's timeshare industry

    Dubai will soon enact 'responsible' legislation regulating the timeshare industry in the emirate that will bring greater credibility to the market and benefit both consumers and operators, said an expert today at the Cityscape conference. The new rules will focus on three areas, said Dale Young, Vice President and General Manager of Marriott Vacation Club Middle East. Consumers will have the right to cancel their timeshare purchase within 10 days after the date of execution without penalty. C
  • Notebook shipments from UAE to hit 1.1m in 2008

    Total notebook shipments for the UAE will hit 1.1 million units in 2008, a growth of nearly 93%, a senior Samsung official said. Madhav Narayan, General Manager of the IT Division at Samsung Gulf Electronics, said this figure reflects the massive lead that laptops have over desktops in the region, with four out of every five shipments being laptops. He added that Saudi Arabia accounted for at least 40% of IT spending in the Middle East region last year.
  • Occidental signs Abu Dhabi exploration deal

    The US’ Occidental Petroleum has agreed a deal with Abu Dhabi National Oil Company (Adnoc) to invest $500m over the next four years to develop the Jarn Yaphour and Ramhan oil and gas fields in the emirate.
  • Oil price drops below $70 as financial uncertainty continues

    Oil prices hit a 14-month low on 16 October, reaching less than $70 a barrel, after new trade figures in the US continued to rattle global financial markets.
  • Oil price drops to $66 as market awaits Opec cut

    The oil price hit a new 16-month low of $66 a barrel on the eve of an extraordinary Opec meeting on 24 October which is expected to cut supplies by at least 1 million barrels-a-day (b/d) in an effort to rebalance the market.
  • Oil price hits $70 after US and China cut rates

    The price of oil recovered above $70 a barrel for the first time in a week after the US and China, the two biggest consuming countries in the world, cut interest rates, sparking hopes of a global economic recovery.
  • OMAN TENDER: Air traffic control tower

    Construction of an air traffic control tower for an international airport. Closing date: 26 January 2009
  • OMAN TENDER: Air traffic control tower

    Construction of an air traffic control tower for an international airport. Closing date: 26 January 2009
  • OMAN TENDER: Electrical emergency and maintenance services

    Provision of electrical emergency and maintenance services. Closing date: 24 November 2008
  • OMAN TENDER: Horse riding centre

    Construction of a horse riding centre. Closing date: 22 December 2008
  • OMAN TENDER: Horse riding centre

    Construction of a horse riding centre. Closing date: 22 December 2008
  • OMAN TENDER: Housing construction

    Construction of 12 housing units. Closing date: 17 November 2008
  • OMAN TENDER: Housing construction

    Construction of 12 housing units. Closing date: 17 November 2008
  • OMAN TENDER: Ministry building extension

    Construction of an extension building for a ministry. Closing date: 22 December 2008
  • OMAN TENDER: Ministry building extension

    Construction of an extension building for a ministry. Closing date: 22 December 2008
  • OMAN TENDER: National spatial strategy consultancy services

    Provision of consultancy services for the preparation of a national spatial strategy. Closing date: 1 December 2008
  • OMAN TENDER: National spatial strategy consultancy services

    Provision of consultancy services for the preparation of a national spatial strategy. Closing date: 1 December 2008
  • OMAN TENDER: Power and desalination plant additional generation

    Engineering, procurement and construction of additional generation at a power and desalination plant. Closing date: 1 December 2008
  • OMAN TENDER: RFCC steam generator

    Construction of an RFCC main column steam generator Closing date: 8 December 2008
  • OMAN TENDER: Road design consultancy

    Provision of consultancy services comprising the design and supervision of an asphalt road. Closing date: 24 November 2008
  • OMAN TENDER: Sewerage system

    Construction of a sewerage system. Closing date: 12 January 2009
  • Omani council receives bids for second phase of Salalah bypass

    The Supreme Council for Town Planning has received 12 bids for the contract to build the second phase of the Salalah bypass in Dhofar governorate in Oman.
  • Omani council receives bids for second phase of Salalah bypass

    The Supreme Council for Town Planning has received 12 bids for the contract to build the second phase of the Salalah bypass in Dhofar governorate in Oman.
  • ONGC Videsh to hold talks over Iran oil field

    India’s ONGC Videsh is to hold talks with Iran’s Petroleum Ministry to develop a new oil block in the north of the country.
  • Opec cuts production by 1.5 million barrels a day

    Opec has agreed to cut production by 1.5 million barrels a day (b/d) in response to an 'unprecedented' fall in prices and fears over short-term demand.
  • Oracle dominates enterprise software

    Microsoft's focus on consumer software and IBM's interest in services have helped Oracle dominate the enterprise software industry, according to Charles Philippe, the company's president. In 2007, Oracle ranked as the third largest software firm in the world. While the company hasn't bought anything in the region, it already has a higher market share in the Middle East than anywhere else.
  • Orange signs shipping deal

    The Kuwait-based United Arab Shipping Company (UASC) has signed a multi-million dollar three-year deal with Orange Business Services. The agreement will allow UASC to link all its global sites using Orange Business Services' WAN network.
  • Padico postpones Nablus investment conference

    A Palestinian investment conference scheduled to take place in Nablus in early October has been postponed to allow potential investors greater time to prepare after Ramadan and the Eid al-Fitr festival.
  • Palestinian water quality falls despite improved connectivity

    The number of Palestinian households connected to a water network has increased over the last decade, but the quality of that water has fallen dramatically and remains extremely variable across the Occupied Territories, according to a survey by the Palestinian Central Bureau of Statistics (PCBS).
  • Passenger Air Traffic falls across the Middle East

    According to new industry figures passenger traffic for Middle Eastern airlines in September fell 2.8% as the global economic crisis took its toll on international air travel. However, falling oil prices are expected to help carriers meet profit expectations.
  • PC shipments grow 27% in EMEA

    Personal computer (including notebooks) shipments in Europe, Middle East and Africa rose 27% to over 27.8 million units in the third quarter of this year, compared to the same period last year, according to data released by analyst firm International Data Corporation. IDC statistics show Acer reached the first position in the EMEA PC market (Desk-based PC, Mobile-PCs and X-86 servers) with 21.3%, attaining first position for the first time. The EMEA PC market performance was driven by strong
  • Piracy curbs game industry in Middle East

    The chief executive of the Arabian Anti-Piracy Alliance said the video game industry will never grow in the Middle East until Saudi Arabia and other large regional markets crack down on their high rates of piracy, reported The National. Speaking at the inaugural Dubai World Game Expo in Dubai, Scott Butler praised the UAE for its efforts to fight game piracy, but said other markets in the region, such as Saudi Arabia, must also get tough on protecting intellectual property rights.
  • Precious metal a haven as the value of money declines

    Approval of US Treasury Secretary Hank Paulson’s financial bail-out plan, which was first unveiled in late September, will trigger matching action across the world. Money will soon not be worth what it was.
  • Premier Inn plans 80 hotels in ME

    UK budget hotel chain Premier Inn hopes to build 80 hotels in the Middle East over the next 10 years, Darroch Crawford, Managing Director of Premier Inn, told AME Info. The company already operates a hotel at Dubai Investments Park, with other properties opening at Dubai Silicon Oasis, the International Airport and Al Jadaf. The company also has plans to open in Oman, Qatar, Bahrain and Saudi Arabia, he said.
  • Pressure grows for Saudi mortgage law

    Saudi Arabia’s long-delayed mortgage law remains vital for the development of the kingdom’s real estate market, according to real estate consultant Colliers International.
  • Pressure grows for Saudi mortgage law

    Saudi Arabia’s long-delayed mortgage law remains vital for the development of the kingdom’s real estate market, according to real estate consultant Colliers International.
  • PRO TECHnology to distribute 50TB hybrid RAID Array

    Dubai-based PRO TECHnology, a provider of broadcast, communication, security and storage solutions, has announced that it will be distributing the latest 50TB high density hybrid RAID Array from Storageflex, a Canadian mass storage products manufacturer. Developed to address customer needs for high-density storage requirements of exploding storage applications including archive, backup, security surveillance, video and graphic arts, the new 3945N-50 is desinged to be a cost-effective solution
  • Promethean choose Bahrain for ME hub

    Majeed Sharaf, regional VP of Interactive classroom technology manufacturer Promethean, has told AME Info that the group will have its regional hub in Bahrain. The company is experiencing year-on-year growth of 100%, with Saudi Arabia as its biggest market, and its systems are currently used in over 10,000 classrooms in the UAE alone. The group is currently looking to expand into Iran, Sudan and Yemen.
  • Property firms' shares plunge as foreign funds sell shares

    Dubai's largest listed real estate developers suffered double-digit falls in their share prices on 6 October, as the market processed a backlog of sell orders from foreign funds.
  • Public transport key for business

    Former London Mayor Ken Livingstone told delegates at Cityscape yesterday that Abu Dhabi and Dubai cannot rely on cars and needs strong public transport networks. Financial centres, he said, rely on face to face meetings and therefore for people to be able to move around. But he said the UAE was not ready for a congestion charge, as Livingstone introduced in London, as an extensive public transport system was not yet in place.
  • Qatar Airways launches New York JFK service

    Qatar Airways has launched scheduled flights to New York's JFK International Airport with a new non-stop service linking America's financial center with Doha. The new route gives Qatar Airways its second daily non-stop service to America, supplementing existing daily services to Washington DC. The JFK service replaces Qatar Airways' one-stop, six-times-a-week operation between Doha and Newark Liberty International Airport, which was introduced in June 2007.
  • Qatar Electricity & Water Company increases profits

    Qatar Electricity & Water Company (QEWC) has reported a net profit of QR596.2m ($164m) for the nine months ending 30 September.
  • Qatar Islamic Bank reports 46 per cent rise in profits

    Qatar Islamic Bank (QIB) has reported a 46 per cent increase in profits during the third quarter of 2008 to QR1.25bn ($344m).
  • Qatar signs Lockheed contract

    Qatar is to buy four C-130J Super Hercules airlifters from Lockheed Martin at a cost of $393.6m. The contract includes training, ground support, spares and service equipment. Deliveries for the Qatari Emiri Air Force are expected to begin in 2011.
  • QATAR TENDER: Auto-workshop manpower

    Provision of continuously deployed manpower at an auto-workshop in Dukhan. Closing date: 23 November 2008
  • QATAR TENDER: Diesel and mobile generators

    Supply of 12 diesel-driven mobile generators and one diesel generator. Closing date: 26 October 2008
  • QATAR TENDER: Glycol regeneration trains

    Construction of two new glycol regeneration trains. Closing date: 30 November 2008
  • QATAR TENDER: Landscaping area maintenance

    Maintenance of landscaping at gas operation areas. Closing date: 30 November 2008
  • QATAR TENDER: Overhead power lines

    Carrying out phase nine of a power transmission system expansion project comprising overhead power lines. Closing date: 18 January 2009
  • QATAR TENDER: Power cables

    Provision of EHV power cables. Closing date: 25 January 2009
  • QATAR TENDER: Production station structure protective coatings

    Refurbishment of protective coatings at offshore locations. Closing date: 4 January 2009
  • QATAR TENDER: Refinery protective coating

    Provision of protective coating services at a refinery. Closing date: 23 November 2008
  • QATAR TENDER: Scada automation consultancy

    Provision of consultancy services for a TSE supervisory control and data acquisition (Scada) automation project. Closing date: 30 November 2008
  • QATAR TENDER: Supervisory control and data acquisition automation consultancy

    Provision of consultancy services for a TSE supervisory control and data acquisition automation project. Closing date: 30 November 2008
  • QATAR TENDER: Supervisory control and data acquisition automation consultancy

    Provision of consultancy services for a TSE supervisory control and data acquisition automation project. Closing date: 30 November 2008
  • QATAR TENDER: Traffic safety barriers

    Provision and maintenance of traffic safety barriers. Closing date: 9 November 2008
  • QATAR TENDER: Traffic safety maintenance services (Doha North)

    Provision of maintenance services for traffic safety measures. Closing date: 9 November 2008
  • QATAR TENDER: Traffic safety maintenance services (Doha)

    Provision of maintenance services for traffic safety measures. Closing date: 9 November 2008
  • QATAR TENDER: Water distribution network (241)

    Replacement of a water distribution network. Closing date: 25 January 2009
  • QATAR TENDER: Water distribution network (245)

    Replacement of a water distribution network. Closing date: 25 January 2009
  • QATAR TENDER: Water distribution service connections

    Supply and installation of service connections at a water distribution network. Closing date: 2 November 2008
  • QATAR TENDER: Wellhead maintenance vessel charter

    Charter of a vessel for wellhead maintenance operations. Closing date: 7 December 2008
  • QATAR TENDER: Workshop and laboratory buildings

    Design and engineering, procurement, installation and commissioning of a workshop and laboratory buildings. Closing date: 14 December 2008
  • QATAR TENDER: Workshop and laboratory buildings

    Design and engineering, procurement, installation and commissioning of a workshop and laboratory buildings. Closing date: 14 December 2008
  • Qatar to give fixed-line licence to Vodafone

    Qatar's telecoms regulator has confirmed that it will give Vodafone Qatar the second fixed-line licence before the end of 2008.
  • Qatar-Bahrain causeway under design

    The plans for the proposed Qatar-Bahrain causeway are currently at the design stage, The Peninsula has reported. Work is scheduled to begin in January and it is predicted that it will take 51 months to complete, with 70% of the work being undertaken in Qatar.
  • Qatari Arabian to build Doha commercial centre

    Lebanon’s Qatari Arabian Construction Company (ACC) has been awarded the estimated QR350m ($95m) contract to build a commercial centre in Doha.
  • Qatari Arabian to build Doha commercial centre

    Lebanon’s Qatari Arabian Construction Company (ACC) has been awarded the estimated QR350m ($95m) contract to build a commercial centre in Doha.
  • QE2 bound for Dubai

    The Queen Elizabeth 2 cruise liner is due to arrive in Dubai on November 26, marking the end of her ultimate voyage. On arrival the ownership of QE2 will be transferred to Dubai-based developer Nakheel. Over the coming months she will undergo extensive refurbishment before taking her place at a specially constructed berth on the Palm Jumeirah - where she will become a floating hotel and atraction for tourists. QE2 has circumnavigated the world 25 times, crossed the Atlantic more than 800 time
  • Qurain posts KD3.6m profit

    Qurain Petrochemical Industries Company has announced a net profit of KD3,634,967 for the nine months which ended on 30th September, 2008. Investments for sale have increased by 14%. The company is looking into a number of projects in petrochemical and oil field sectors in Saudi Arabia, Egypt, and India.
  • Rabat to privatise Royal Air Maroc

    The Moroccan government plans to privatise Royal Air Maroc in the largest privatisation campaign in the kingdom since the late 1990s.
  • RAK launches new system for driving licences

    The UAE emirate of Ras Al Khaimah police is introducing a new system for people intending to get a driving licence. From Sunday, applicants will initially have to get registered with the RAK Driving Academy, which is in the final stage before its opening at the temporary premises in the Dhan area. Applicants will then have to sit for eight lectures on traffic, after which they must take an oral examination and driving training.
  • RAK Properties prepares tender for luxury Ras al-Khaimah hotel

    Local developer RAK Properties is preparing to issue tenders for a five-star hotel at its AED20bn ($5.4bn) Mina al-Arab development in Ras al-Khaimah.
  • RAK Properties prepares tender for luxury Ras al-Khaimah hotel

    Local developer RAK Properties is preparing to issue tenders for a five-star hotel at its AED20bn ($5.4bn) Mina al-Arab development in Ras al-Khaimah.
  • Ramee Group plans 15 hotel projects

    Dubai-based hotel chain Ramee Group, which operates 31 mid-sized hotels in the GCC and India, is investing Dhs5bn ($1.4m) in 15 new projects in the Gulf and India, reported Gulf News. The company is developing three five-star properties in Dubai, four projects in Bahrain and three hotels in India. Of these, Dhs2.7bn will be invested in the UAE, Dhs1.3bn in Bahrain and a further Dhs1bn in India, according to Raj Shetty, chairman and managing worker of Ramee Group.
  • Ras Al Khaimah Ceramics profit up 68%

    Ras Al Khaimah Ceramics, a UAE-based manufacturer of tiles, toilets, sinks and bathtubs, has reported that its third-quarter profit climbed 68%, Bloomberg has reported. Net income in the three months to Sept. 30 advanced to Dhs54.5m ($14.8m), or 0.098 dirhams a share, from 32.4 million, or 0.07 dirhams. Sales advanced 21% to Dhs709.8m.
  • Rawabi Abraj al-Bait construction to start in 2009

    Construction work on the Rawabi Abraj al-Bait project is to begin by March 2009.
  • Rawabi Abraj al-Bait construction to start in 2009

    Construction work on the Rawabi Abraj al-Bait project is to begin by March 2009.
  • Rawabi and Swiber to target GCC offshore oil projects

    Saudi Arabia’s Rawabi Holding Company has formed a joint venture with Singapore’s Swiber Holdings to target offshore oil and gas projects in the GCC.
  • RB Farquhar to build manufacturing facility in UAE

    RB Farquhar, a manufacturer of pre-fabricated bathroom pods, is opening a custom-built manufacturing facility in Al Ain, UAE in 2009. RB Farquhar has been designing and building bathroom pods since 1990, providing for hotels, residential, student accommodation and military markets. It has experience in the fabrication of both high-end luxury pods as well as simplistic and effective designs to suit all clients.
  • Reality check for Gulf capital markets

    Fund managers believed GCC stock exchanges were not correlated with Western bourses. The drop in the indices of Gulf markets, as the financial crisis in the US and Europe spread, shows just how wrong they were.
  • Regional low-cost airlines set to consolidate

    The Middle East low-cost aviation sector needs to prepare itself for consolidation in the coming years if it is to remain competitive, according to a senior figure in the Middle East sector.
  • Requests for proposals issued for New Port of Aqaba

    The Aqaba Development Corporation (ADC) has issued requests for proposals to the four consortiums which have prequalified to build a new port in Jordan’s southern city.
  • Riverbed showcases Wide-Area Data Services

    Wide-area data services company Riverbed Technology is to showcase the latest version of its Riverbed Optimization System 5.0 at Gitex, as it pushes it to the Middle East markets. The software can facilitate application-level protocol optimization for Microsoft Exchange 2007. The software is being pushed to the oil and gas, financial services and construction sectors.
  • Riyadh invites firms to bid for King Abdullah Financial District contract

    Saudi Arabia’s Public Pensions Agency (PPA) is inviting consultants to bid for the construction supervision contract at the King Abdullah Financial District in Riyadh.
  • Riyadh invites firms to bid for King Abdullah Financial District contract

    Saudi Arabia’s Public Pensions Agency (PPA) is inviting consultants to bid for the construction supervision contract at the King Abdullah Financial District in Riyadh.
  • Riyadh to privatise hospitals

    Saudi Arabia is planning to increase private sector participation in the healthcare industry by privatising the country's state-owned hospitals, according to media reports on 1 October.
  • Rotana plans budget hotel in Dubai World Central

    A budget business hotel is to be built at Dubai World Central at a cost of Dhs500m ($136m)starting early next year, reported Gulf News. Rotana will operate the 500-room hotel under their budget business traveller brand Centro by Rotana, which was created three years ago. The property is located in the residential section of Dubai World Central and will be about two kilometres from Al Maktoum International Airport in Jebel Ali.
  • Royal Caribbean to base ship in Dubai

    Royal Caribbean, the world's biggest cruise line, has announced that it will deploy the 2,112-passenger Brilliance of the Seas to Dubai in 2010. The six-year-old Brilliance, which currently sails year-round in Europe, will remain in the Gulf between January and April 2010, sailing seven-night cruises. The line says it will release details of the ships' itineraries in several weeks.
  • Royal Group appoints new CEO

    The Royal Group in Abu Dhabi has promoted Derek Bruce to the position of Chief Executive Officer of Reem Emirates Aluminum (REA), the UAE-based manufacturer of custom-designed aluminium wall panels. Australian-born Bruce was promoted from the position of REA general manager and brings more than 25 years experience in the engineering, design and manufacturing of unitised curtain wall construction to the role, according to a press statement.
  • RTA opens new Business Bay route

    The Roads & Transport Authority (RTA) has recently opened a new phase of Business Bay & Ras Al-Khor Crossings project. The new network enables free and direct traffic flow in both directions of Business Bay Crossing road linking it with Al Khail & Financial Center roads, as well as Oud Metha. Diverted roads linking Financial Center Road with Al-Khail Road, and Oud Metha Road with Ras Al-Khor Road & Al-Khail Road will therefore be abolished.
  • Sabb profits rise by 9.2 per cent

    Sabb's profits have risen by 9.2 per cent for the third quarter of 2008 to SR711m ($190m), as a result of a 54.2 per cent increase in loans and advances.
  • Sabic profits slow

    The Saudi Basic Industries Co (Sabic) is set to report its smallest profit growth in nine consecutive quarters, Bloomberg has reported. The prediction comes as demand from EU and US markets slows due to difficult economic conditions. The rise is Q3 income is estimated to be 6.8%.
  • Sabic's profit drops 2.2%

    Saudi Basic Industries, the largest company in the Gulf by market value, has reported that its third quarter profit fell 2.2%, reported Bloomberg. Net income declined to 7.24 billion riyals ($1.92bn) from 7.4 billion riyals a year earlier. The chemical maker was expected to report a 6.8% rise in net income to 7.9 billion riyals, according to the average of three analyst estimates compiled by Bloomberg.
  • Sama Dubai invites firms to express interest in Falcon island work

    Local developer Sama Dubai has invited contractors to express interest in the dredging works on its Falcon island project.
  • Sama Dubai invites firms to express interest in Falcon island work

    Local developer Sama Dubai has invited contractors to express interest in the dredging works on its Falcon island project.
  • Sama in Avis tie up

    Sama Airlines has announced a commercial agreement with Avis for international car rental. The agreement will allow Sama's guests to book via www.flysama.com giving access to special discounted prices with other advantages.
  • Samba profits decrease 8 per cent

    Saudi Arabia's Samba Financial Group has reported an 8 per cent drop in third-quarter profits to SR1.2bn ($319.3m), due to a fall in brokerage revenues.
  • SAUDI ARABIA TENDER: Air defence building site development and construction

    Carrying out site development works for and construction of an air defence building. Closing date: 16 December 2008
  • SAUDI ARABIA TENDER: Air defence building site development and construction

    Carrying out site development works for and construction of an air defence building. Closing date: 16 December 2008
  • SAUDI ARABIA TENDER: Apartment construction

    Construction of apartments at an industrial city. Closing date: 15 December 2008
  • SAUDI ARABIA TENDER: Apartment construction

    Construction of apartments at an industrial city. Closing date: 15 December 2008
  • SAUDI ARABIA TENDER: City entrance development

    Development of the entrance to a city. Closing date: 29 December 2008
  • SAUDI ARABIA TENDER: City entrance development

    Development of the entrance to a city. Closing date: 29 December 2008
  • SAUDI ARABIA TENDER: Medical centre expansion

    Expansion of a medical centre. Closing date: 17 February 2009
  • SAUDI ARABIA TENDER: Medical centre expansion

    Expansion of a medical centre. Closing date: 17 February 2009
  • SAUDI ARABIA TENDER: Mosque construction

    Construction of a mosque. Closing date: 12 January 2009
  • SAUDI ARABIA TENDER: Mosque construction

    Construction of a mosque. Closing date: 12 January 2009
  • SAUDI ARABIA TENDER: Power plant battery room safety upgrading

    Upgrading of the safety level at a power plant’s battery rooms. Closing date: 22 October 2008
  • SAUDI ARABIA TENDER: Reformatory construction

    Construction of reformatories. Closing date: 15 November 2008
  • SAUDI ARABIA TENDER: Reformatory construction

    Construction of reformatories. Closing date: 15 November 2008
  • SAUDI ARABIA TENDER: Road rehabilitation

    Rehabilitation of roads. Closing date: 16 November 2008
  • SAUDI ARABIA TENDER: Road rehabilitation

    Rehabilitation of roads. Closing date: 16 November 2008
  • SAUDI ARABIA TENDER: Site preparation works

    Provision of site preparation works. Closing date: 28 December 2008
  • SAUDI ARABIA TENDER: Site preparation works

    Provision of site preparation works. Closing date: 28 December 2008
  • SAUDI ARABIA TENDER: Substation construction

    Construction of a substation. Closing date: 30 November 2008
  • SAUDI ARABIA TENDER: Water tower construction

    Construction of two elevated water towers. Closing date: 20 January 2009
  • SAUDI ARABIA TENDER: Water tower construction

    Construction of two elevated water towers. Closing date: 20 January 2009
  • SAUDI ARABIA TENDER: Waterfront construction

    Construction and site development of a waterfront. Closing date: 23 December 2008
  • SAUDI ARABIA TENDER: Waterfront construction

    Construction and site development of a waterfront. Closing date: 23 December 2008
  • Saudi Arabia's Jiwar to launch three firms

    The Saudi-based Jiwar Real Estate Management & Marketing Company is to launch three new companies with a value of SR2.6bn ($691m).
  • Saudi Arabia's Jiwar to launch three firms

    The Saudi-based Jiwar Real Estate Management & Marketing Company is to launch three new companies with a value of SR2.6bn ($691m).
  • Saudi banks deny exposure to global financial crisis

    Five of the largest banks in Saudi Arabia have said they have no exposure to international mortgage markets and that the credit crisis hitting US and European banks is not affecting them.
  • Saudi commission issues tender for Jubail apartments

    The Royal Commission for Jubail and Yanbu has issued a tender for the construction of apartment buildings at Jubail Industrial City.
  • Saudi commission issues tender for Jubail apartments

    The Royal Commission for Jubail and Yanbu has issued a tender for the construction of apartment buildings at Jubail Industrial City.
  • Saudi commission issues tender for King Fahd port substation

    The Royal Commission for Jubail & Yanbu has issued a tender for the construction of a substation at King Fahd Industrial Port.
  • Saudi commission issues tender for King Fahd port substation

    The Royal Commission for Jubail & Yanbu has issued a tender for the construction of a substation at King Fahd Industrial Port.
  • Saudi commission issues tender for Waterfront work at Yanbu

    The Royal Commission for Jubail and Yanbu has issued a tender for the construction and site development for phase three of the Waterfront development at Yanbu.
  • Saudi commission issues tender for Waterfront work at Yanbu

    The Royal Commission for Jubail and Yanbu has issued a tender for the construction and site development for phase three of the Waterfront development at Yanbu.
  • Saudi commission issues Yanbu road tender

    Saudi Arabia’s Royal Commission for Jubail & Yanbu has issued a tender for road improvement works in the industrial city of Yanbu.
  • Saudi commission issues Yanbu road tender

    Saudi Arabia’s Royal Commission for Jubail & Yanbu has issued a tender for road improvement works in the industrial city of Yanbu.
  • Saudi company to buy 12 French hotels

    Saudi-owned MBI International is to sign an agreement to buy 12 hotels in France from Starwood Capital including the Hotel Concorde Lafayette. The deal - which is to be unveiled within the next few days is expected to be worth $2bn.
  • Saudi Electricity to delay Rabigh deadline

    Saudi Electricity Company is expected to extend the deadline for bids to develop the Rabigh independent power project (IPP) by four weeks, according to a source close to the scheme.
  • Saudi Hollandi profits rise 88 per cent

    Saudi Hollandi Bank has reported an 88 per cent increase in profits to SR306m ($81.6m) for the three months to the end of September due to a rise in commission income.
  • Saudi organisation makes awards for Jizan industrial city

    The Saudi Organisation for Industrial Estates & Technology Zones (SOIETZ), which runs industrial parks across the kingdom, has made a number of awards to contractors for Jizan industrial city.
  • Saudi organisation makes awards for Jizan industrial city

    The Saudi Organisation for Industrial Estates & Technology Zones (SOIETZ), which runs industrial parks across the kingdom, has made a number of awards to contractors for Jizan industrial city.
  • Saudi's Tadawul closes at record low

    The Saudi stock exchange, the Tadawul recorded its lowest closing point in almost four years yesterday.
  • Scomi to submit monorail plan to Bahrain

    The masterplan for Bahrain’s national monorail system is to be submitted for government approval by late October.
  • Second Emirates A380 due next week

    Emirates has confirmed the second of its Airbus A380s will arrive on 24 October. The plane will fly to and from the new Emirates Terminal 3 at Dubai International Airport. He said another three are then due shortly after, with the first coming at the end of January. They will fly to New York, Heathrow, Sydney and New Zealand. Speaking exclusively to AME Info, Tim Clark, President of Emirates said: 'It really became a tug of war as to what routes we put it on. There were about 30 we could have
  • Security threats on the rise

    Symantec says it now finds as many as 8,000 pieces of malware a day, and that security threats have increased over the past 18 months. Speaking at Gitex, the company, which recently launched Internet Security Suite 2009, said not all will pose a danger to users, because of the range of languages such threats come in. Symantec said it has changed the way it tackles security threats, issuing customers with new anti-virus definitions every few minutes.
  • Sharjah cement plant set to start production

    Hamriyah Cement Company is to begin test-runs next month at its new cement plant in Sharjah, UAE.
  • Sharjah cement plant set to start production

    Hamriyah Cement Company is to begin test-runs next month at its new cement plant in Sharjah, UAE.
  • Shell appoints head of finance as chief executive officer

    The UK/Dutch Shell Group has named its chief financial officer, Peter Voser, as its new chief executive officer, to take over from Jeroen van der Veer when he retires in July 2008.
  • Shipyard begins work on last six UAE Navy vessels

    As part of the region's largest-ever naval construction programme, Abu Dhabi Ship Building has recently begun work on the last of six Baynunah corvettes being built for the UAE Navy. The Baynunah Class vessels are highly sophisticated multi-mission corvettes equipped with cutting-edge combat systems and have the capability to perform a wide range of military operations, including defence against both air and surface threats.
  • Shuaa reports $101m loss and Lehman exposure

    Shuaa Capital has reported a AD371.1m ($101m) loss in the six months to the end of September, including a AD78.6m write down from exposure to bankrupt US investment bank Lehman Brothers.
  • Siemens takes Kuwaiti transmission contracts

    Germany’s Siemens has been awarded two contracts for the maintenance and upgrade of electricity transmission networks in Kuwait.
  • Silver Air gets operator's certificate in UAE

    Silver Air, a three-year-old charter operator, has received an Air Operator's Certificate from the UAE's General Civil Aviation Authority, reported Gulf News. The AOC was attained in less than one year by the UAE carrier, which is owned by a group of prominent local businessmen. Silver Air has three aircraft in the fleet and plans to grow to a fleet of ten aircraft by 2010.
  • Singapore-Riyadh route launched

    Singapore Airlines has launched a service to Riyadh that will run four times a week via Dubai. The carrier will also maintain its service to Jeddah via Abu Dhabi. The new route is scheduled to begin operations from December 14.
  • SNC Lavalin to build district cooling plant in Bahrain

    Tabreed Bahrain has signed an agreement with Canada’s SNC Lavalin to build a district cooling plant at Bahrain Financial Harbour.
  • Sobha group to launch $1bn hotel chain

    Dubai-based Sobha group has announced plans to invest up to $1bn in creating a hospitality division, Sobha Hotels. The china is expected to have 2,000 rooms in the first phase of six hotels, eventually expanding to ten five-star hospitality properties spread across the UAE, India, Oman and Zanzibar.
  • Sonatrach reduces gas production after pipeline cracks

    Sonatrach is to cut liquefied natural gas production from its Arzew plant by up to 20 per cent until the end of 2008, due to a cracked pipeline.
  • SriLankan Airlines goes green

    SriLankan Airlines has launched a series of long-term initiatives aimed at safeguarding the environment and emphasizing its commitment to conservation. SriLankan has begun discussions with the Environmental Unit of International Air Transport Association, the global aviation industry's governing body, to exchange the latest information and developments on aviation related environment issues. SriLankan is also participating in IATA's current survey on environment management systems among airli
  • SriLankan Airlines launches OLCI

    SriLankan Airlines has been systematically introducing its On-Line Check-In (OLCI) system throughout its route network, significantly improving the level of passenger convenience prior to departure, the carriers said in a press statement. OLCI has been launched in Dubai and in seven other overseas stations after it was initially introduced at its hub in Colombo's Bandaranaike International Airport, last December. OLCI affords passengers the luxury of checking themselves in through the Interne
  • Steel plant planned in Bahrain

    The Foulath consortium, which includes Industries Qatar's steel unit and National Industries Group, is in talks to finance a $1.4bn steel plant in Bahrain, Bahrain Tribune has reported. According to Khaled Al Qadeeri, head of manufacturing at co-investor Gulf Investment Corp, Foulath is partnering a subsidiary of Japan's Yamato Kogyo Co 5444.T to build the plant and expects to close financing by the end of the year despite turmoil on global financial markets.
  • SUDAN TENDER: Human resource capacity building

    Carrying out human resource capacity building and activities/strategies development. Closing date: 27 October 2008
  • SUDAN TENDER: Road improvement works

    Carrying out improvements to a road. Closing date: 16 November 2008
  • SUDAN TENDER: Transport rehabilitation project consultancy

    Provision of construction supervision consultancy services for a national emergency transport rehabilitation project. Closing date: 15 October 2008
  • Sumou Holding to launch real estate investment trust

    Saudi Arabian-based Sumou Holding has signed a deal with Switzerland's Encore to establish Saudi Arabia’s first real estate investment trust (REIT).
  • Sumou Holding to launch real estate investment trust

    Saudi Arabian-based Sumou Holding has signed a deal with Switzerland's Encore to establish Saudi Arabia’s first real estate investment trust (REIT).
  • Tadawul chief executive defends controversial listings strategy

    The chief executive of Saudi Arabia's stock exchange, the Tadawul, has defended the controversial practice of floating new companies at an arbitrary low price.
  • Taihan Electric bids low for Kuwait transmission work

    South Korea’s Taihan Electric Company is the low bidder for a contract to supply and install 400kV ground cables in various parts of the country.
  • Tameer invites firms to bid for Al-Louldah project

    The UAE’s Tameer Holding is inviting firms to bid for the infrastructure design consultancy for a new mixed-use project in Saudi Arabia.
  • Tameer invites firms to bid for Al-Louldah project

    The UAE’s Tameer Holding is inviting firms to bid for the infrastructure design consultancy for a new mixed-use project in Saudi Arabia.
  • Taqa profits rise 300 per cent

    Abu Dhabi National Energy Company (Taqa) has reported a 318 per cent rise in net profits for the nine months to 30 September.
  • Tasi gains 11.4 per cent as investors regain confidence

    Saudi Arabia's main market index, the Tasi, gained 11.4 per cent this week closing on 15 October at 6,863 points as investors regained their confidence after weeks of turmoil.
  • Tatneft issues tender for Libyan seismic work

    Russia’s Tatneft has issued an invitation to oil companies to bid for the processing and interpretation of seismic data from one of its fields in the Ghadames Basin in Libya.
  • TDIC breaks ground on Saadiyat Island projects

    Tourism Development & Investment Company, a master developer of cultural, residential and tourism destinations in Abu Dhabi, has broken ground on the first of its hospitality and residential offerings on Saadiyat Island, the natural island just offshore the UAE capital city. Lee Tabler, CEO of TDIC, said the construction schedule is on track to open the St. Regis Hotel in early 2010 and hand over the first phase of villas on Saadiyat Beach towards the end of that year. Models of the St. Regi
  • Tehran delays bids for power programme

    Iran Power Development Company (IPDC) says it is still preparing the tenders for a project to add more than 3,000MW of gas-fired power generation capacity to its network, a month after bids had been due.
  • Tehran officials visit South Korea to attract contractors

    National Iranian Oil Company (NIOC) is to hold an investor roadshow in Seoul for South Korean contractors in November, as part of a plan to attract more engineering, procurement and construction firms to work on its energy projects.
  • Tender for Capital Markets Authority tower in Riyadh to be issued in 2009

    The tender for the first construction package on the Capital Markets Authority (CMA) tower in Riyadh is to be issued in January 2009.
  • Tender for Capital Markets Authority tower in Riyadh to be issued in 2009

    The tender for the first construction package on the Capital Markets Authority (CMA) tower in Riyadh is to be issued in January 2009.
  • Tenders for construction of Palm Jumeirah hotel to start in 2009

    Tenders for the construction of a AED1.2bn ($327m) hotel and apartment complex planned by Kuwait’s Al-Osaimi Development & Real Estate on Palm Jumeirah in Dubai are expected to be issued in early 2009.
  • Tenders for construction of Palm Jumeirah hotel to start in 2009

    Tenders for the construction of a AED1.2bn ($327m) hotel and apartment complex planned by Kuwait’s Al-Osaimi Development & Real Estate on Palm Jumeirah in Dubai are expected to be issued in early 2009.
  • Thales wins ADIA control tower contract

    Abu Dhabi Airports Company has announced that Thales, a provider of mission-critical information systems for the aerospace, defence and security markets, has been awarded the contract to fit out Abu Dhabi International Airport's new air traffic control centre tower. With the construction of the tower already underway and due for completion in 2009, Thales are expected to start integrating the systems and command centre over the coming year.
  • The Address opens in Downtown Burj

    The Address, Downtown Burj Dubai, developed by Emaar Hospitality Group has opened its doors to guests today. The 63-storey hotel is the second tallest tower in Downtown Burj Dubai, next only to Burj Dubai, with 196 rooms and suites.
  • The Middle East to host 320 mn passengers by 2012

    The Middle East and North Africa region is named the largest region for growth in international passenger, according to The International Air Transportation Association (IATA). IATA forecasted the region for 6.8 percent growth compared to a global average of 5.1 percent. Airport expansion work in the region amounts to US$ 38 billion, allowing the 10 leading airports in the Middle East to have a combined capacity of 320 million passengers by 2012.
  • Thirteen firms prequalify for Kuwait airport contract

    Thirteen local firms have prequalified for a construction package at Kuwait Airport.
  • Thirteen firms prequalify for Kuwait airport contract

    Thirteen local firms have prequalified for a construction package at Kuwait Airport.
  • Tom Cruise plans New Year's Gala in Dubai

    Tom Cruise and his wife Katie Holmes are planning to ring in the New Year in style with a lavish party at Dubai's new Atlantis The Palm Resort, according to US TV news show 'Extra'. The celebrity couple will host a star-studded New Year's Eve party at the $1.5bn resort, which opened September 24.
  • Trade Centre awards cooling deal

    Dubai World Trade Centre has announced that the contract to provide district cooling to Dubai Trade Centre District has been awarded to Empower. Under the terms of the contract Empower will build and operate a 55,000-refrigeration tonne capacity. This will grow to 120,000 tonnes in phase 2.
  • Traffic drop in Mideast -IATA

    Middle Eastern carriers reported a traffic growth drop to 4.3% following 5.3% in July and well below the 10.6% growth recorded during the first 6 months of the year, according to International Air Transport Association (IATA). International passenger demand growth slowed to 1.3% as passenger load factors fell to 79.2% lower than the 81% recorded during the same period last year as capacity growth outpaced demand.
  • Transport ministers approve GCC railway study

    GCC transport ministers approved the feasibility study for the GCC railway on 15 October, paving the way for negotiations over the final specifications of the project.
  • Tunisair to buy accounting software from Dubai firm

    Mercator, the Dubai-based business technology provider, has been selected by Tunisair, the national airline of Tunisia, to supply their RAPID accounting system ASP (application service provisioning) hosting services to the airline. RAPID, Mercator's airline passenger interline revenue accounting system, has been tailored to suit the North African airline, with Mercator hosting the entire RAPID application in their data centre in Dubai.
  • Tunisia plans to build 14 desalination plants

    The Tunisian government has announced plans to build 14 reverse osmosis desalination plants in the southeast of the country.
  • UAE cabinet approves $11.5bn federal budget

    The UAE cabinet has approved a federal budget of AED42.2bn ($11.5bn) for 2009, a 21 per cent increase on the 2008 budget.
  • UAE cement demand forecast to reach 44 million tonnes

    Demand for cement in the UAE will more than double over the next five years, from 20.5 million tonnes this year to 43.9 million tonnes by 2013, according to Mustafa Gorgunel, general manager of Ras al-Khaimah-based Union Cement Norcem Company.
  • UAE cement demand forecast to reach 44 million tonnes

    Demand for cement in the UAE will more than double over the next five years, from 20.5 million tonnes this year to 43.9 million tonnes by 2013, according to Mustafa Gorgunel, general manager of Ras al-Khaimah-based Union Cement Norcem Company.
  • UAE cement price controls are successful

    Price and production agreements with local cement suppliers helped maintain supplies and cap prices in the UAE construction market since the summer of 2008, under-secretary at the UAE Economy Ministry Mohammed al-Shihhi told MEED’s Cement & Concrete 2008 conference in Dubai on 29 October.
  • UAE cement price controls are successful

    Price and production agreements with local cement suppliers helped maintain supplies and cap prices in the UAE construction market since the summer of 2008, under-secretary at the UAE Economy Ministry Mohammed al-Shihhi told MEED’s Cement & Concrete 2008 conference in Dubai on 29 October.
  • UAE central bank reduces interest rate

    The Central Bank of the UAE has cut the interest rate on its AED50bn ($13.6bn) emergency liquidity fund, in a further sign of the impact that the credit crunch is having on regional banking markets.
  • UAE economic growth forecast to slow down

    Economic growth in the UAE will slow, although the fall will not be directly related to problems in other global markets, according to ratings agency Standard & Poor’s (S&P).
  • UAE forms firm to oversee construction of rail network

    The UAE is set to form a client company to oversee construction of a 350-kilometre national railway network.
  • UAE growth to slow to 2.7 per cent in 2009

    Economic growth in the UAE is predicted to slow to 2.7 per cent in 2009 as the impact of a global economic slowdown hits the region, according to Marios Maratheftis, regional head of research at Standard Chartered.
  • UAE guarantees all bank savings and deposits

    The UAE government has said it will guarantee savings and deposits made in local banks, and all interbank lending in the country, as part of its measures to shore up its banking system in the wake of the global financial crisis.
  • UAE insurance sector set to maintain strong growth

    The UAE’s insurance sector is predicted to maintain double digit growth until 2012, although foreign companies will remain under-represented, according to a report by Business Monitor International, which tracks country risk for different industries.
  • UAE steel buyers face $1bn loss

    UAE steel buyers could face up to $1bn in losses as a result of the 50 per cent fall in steel prices since July, according to John Short, executive director at the Dubai Gold & Commodity Exchange (DGCX).
  • UAE supplies additional $19bn to banks

    The UAE will put an additional AED70bn ($19bn) into shoring up its domestic banking sector, adding to a previously announced AED50bn liquidity injection through the central bank.
  • UAE TENDER: Fencing and road lighting

    Construction of fencing and internal road area lighting. Closing date: 12 November 2008
  • UAE TENDER: Lands system project

    Implementation of a lands system project. Closing date: 4 November 2008
  • UAE to build national railway

    Government officials in the UAE announced yesterday that they will soon create a company to oversee a 900km rail line from Fujairah to the Saudi border. Abdulla Alkatheeri, director of the land transport department at The National Transport Authority, said the authority would create a body responsible for making policies and regulations for rail transport in the country. The proposed railway could feed into an international system, currently being discussed by GCC states.
  • UAE to offer domain names in Arabic

    The UAE is seeking become the first country to offer complete internet domain names in a language other than English by late next year, reported Gulf News. Currently, countries such as China have achieved only partial success since the .com part of the URL (uniform resource locator) must still be in English. The new initiative, however, will allow the complete domain name to be in non-English letters. Mohammad Al Zarouni, chief technology officer at the .ae Domain Administration of the Teleco
  • Union National Bank reports profits increase

    Union National Bank, the Abu Dhabi-based lender, has reported that profits for the third quarter of 2008 almost doubled to AED610.8m ($166.3m), from AED395.1m in the same period of 2007.
  • Union Properties rules out merger talks

    Union Properties, a Dubai-listed real estate company, has ruled out holding merger talks with any of its rivals, according to a statement released by the company to the Dubai Financial Market (DFM) on 14 October.
  • Union Properties rules out merger talks

    Union Properties, a Dubai-listed real estate company, has ruled out holding merger talks with any of its rivals, according to a statement released by the company to the Dubai Financial Market (DFM) on 14 October.
  • United Airlines launches second Gulf destination

    US-based United Airlines launched its first daily Washington-Dubai route on Sunday 26 October 2008. Dubai will become the US carrier's second destination in the Arab region after Kuwait. Jeffery Foland, senior vice president of United Airline's global sales, said Dubai had grown in importance as a commercial and tourist destination for Americans. The 15 hour flight will arrive at 06.44am on Monday, local time.
  • United launches US-Dubai service

    American carrier United Airlines has become the second US group to offer direct flights to the UAE with the announcement that it is to begin a non-stop service between Washington's Dulles airport and Dubai on October 26. The carrier will offer seven services a week.
  • United to launch Dubai-US nonstop service

    United Airlines has announed that it will offer nonstop service from Dubai to Washington, DC from October 27. The carrier will fly the route seven times a week using a Boeing 777. 'We look at this market as a growing commerce and tourism hub,' Jeffrey Foland, Senior Vice President, Worldwide Sales told AME Info. 'We expect quite a bit of connecting business.' Discussing the company's overall strategy, Foland said the carrier is reducing its capacity to make sure it is aligned with the marketp
  • US considers $350m defence deal with Riyadh

    The US is considering a new round of defence sales to Saudi Arabia totalling almost $350m.
  • US hedge fund buys 12 per cent of Shuaa Capital

    US hedge fund Passport Capital has increased its stake in Shuaa Capital, a UAE-based investment bank and brokerage, to more than 12 per cent.
  • US imposes sanctions on fourth Iranian bank

    The US Treasury has imposed unilateral sanctions on a fourth Iranian bank, accusing it of providing financial services to Iran's military.
  • US open to investment from sovereign wealth funds

    US Deputy Treasury Secretary Robert Kimmitt has said during a tour of the Gulf that the US remains open to investment from sovereign wealth funds.
  • V. Five launches Ramada in Ajman

    V. Five Continents, an international hotel and resort hospitality group, has launched Ramada Hotel & Suites Ajman. The new hotel complex consists of three all suites towers and a four-star international hotel. Located in downtown Ajman in the Mushrif Commercial area, the tower boasts 503 suites, four restaurants, health and fitness facilities, and a swimming pool.
  • Vale finalises Oman iron pelletising plant contracts

    Brazil’s Vale is finalising the construction contracts for its $1.4bn iron pelletising plant and iron and steel port facility in Sohar Industrial Port, according to Sergio Luiz Espeschit Gomes, the company's Middle East iron ore manager.
  • Veolia and Mubadala to target regional water projects

    France’s Veolia Water and Abu Dhabi government-owned Mubadala Development Company have announced plans to establish a joint venture company for water and wastewater projects in the Middle East and North Africa.
  • Verenex makes oil discovery in Libya

    A fresh oil discovery has been made in Libya by a consortium of Canada's Verenex Energy and the state-run National Oil Corporation (NOC).
  • Vodafone Qatar to postpone Doha listing

    The Qatar Financial Markets Authority (QFMA) has rejected Vodafone Qatar's proposed dates for its initial public offering on the Doha Securities Market.
  • Wataniya Airways to outsource ground handling

    Wataniya Airways says it will unveil a series of regional ground-handling agreements in the next few days, ahead of the airline’s launch early in 2009.
  • WesternGeco wins Libyan seismic deal

    WesternGeco, part of oil field services giant Schlumberger, has won a contract from Russia’s Gazprom to gather 3D seismic data on its Ghadames Basin acreage in Libya.
  • Work on Shams al-Riyadh to begin in 2009

    Construction work on the Shams al-Riyadh project being developed by the local Dar al-Arkan, is expected to begin in March 2009.
  • Work on Shams al-Riyadh to begin in 2009

    Construction work on the Shams al-Riyadh project being developed by the local Dar al-Arkan, is expected to begin in March 2009.
  • YEMEN TENDER: Data quality diagnostic study

    Provision of technical assistance for a data quality diagnostic study. Closing date: 8 November 2008
  • YEMEN TENDER: Water transmission pipeline

    Construction of a water transmission pipeline. Closing date: 29 November 2008
  • Zabeel launches Dubawi Island

    Dubai-based developer Zabeel Properties has unveiled an artist's impression of the new island development being built off the crescent of Palm Jumeirah. The leaf-shaped Dubawi Island Resorts & Spa resort will boast a luxury hotel and waterfront villas, to be constructed in a tropical island setting. The developer says it will unveil full details of the project before the end of the year, though piling work on the island has already been completed. The project is due for completion in 2010.
  • Zain's profits increase 7 per cent

    Zain, the Kuwaiti mobile phone operator, generated net profits of $327m in the July to September quarter, up 7 per cent on the same period in 2007.
  • Zaya awards Nurai dredger contract to Van Oord

    Local developer Zaya has awarded Van Oord of the Netherlands the dredging contract on the Nurai project in Abu Dhabi emirate.
  • Zaya awards Nurai dredger contract to Van Oord

    Local developer Zaya has awarded Van Oord of the Netherlands the dredging contract on the Nurai project in Abu Dhabi emirate.

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