MEED Middle East Economic Digest articles from April 2007

MEED Middle East Economic Digest archives from April 2007

A greener desert.(COMMENT)
April 6, 2007... In March, the city of San Francisco banned supermarkets from giving plastic bags to shoppers--a move it says will save 800,000 barrels of oil a year. More than 12 million barrels are used in this way each year in the US. Should Gulf...

Looking back.(SEVEN DAYS)
April 6, 2007... 6 April 1967 The ruler of Dubai Shaikh Rashid bin Said al-Maktoum says he wants the Kuwaiti dinar accepted as the official currency in the Gulf following the devaluation of the Gulf rupee and the Indian rupee the previous year. 3...

On the record.(SEVEN DAYS)(Quotation)
April 6, 2007... "ONCE THE NATIONAL RECONCILIATION IS ACHIEVED, THE SECOND TRACK IS THE WITHDRAWAL OF THE COALITION FORCES REPLACED BY A NEW COALITION OF FORCES COMPRISING LIKE-MINDED MUSLIM COUNTRIES" Indonesian President Susilo Bambang Yudhoyono proposes...

Iran releases UK servicemen: Coast guard commanders honoured by Iranian Prime Minister.(IRAN)
April 6, 2007... Iranian President Mahmoud Ahmadinejad announced on 4 April that the 15 British naval personnel captured in the Gulf would be freed, bringing to an end the 12-day crisis. The move is a success for the UK's diplomatic effort. However, it...

Olmert's peace talks offer received with scepticism.(GAZA--WEST BANK)(Brief article)
April 6, 2007... Arab leaders have responded with suspicion to Israeli Prime Minister Ehud Olmert's offer to hold a regional peace conference. Olmert suggested that Saudi Arabia should host the meeting after an Arab League summit in Riyadh revived the Arab...

EU to engage with Palestinian authority: 30 March.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... European foreign affairs ministers meeting in Bremen, Germany, express their support for the Arab peace initiative and agree to engage with non-Hamas members of the Palestinian cabinet. They say they will seek to redirect aid towards economic...

Saleh appoints new prime minister: 31 March.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... Yemeni President Saleh asks Electricity Minister Ali Mujawar to form a new government. Mujawar replaces Abdul Qadir Bajamal as the country's prime minister. The move comes amid growing international pressure on Sanaa to introduce reforms.

Senior US politician to meet Asad in Damascus: 2 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... US House of Representatives Speaker Nancy Pelosi says she has "no illusions but great hope" for her upcoming talks with Syrian President Asad, which she says will focus on the fight against terrorism. The White House has condemned Pelosi's...

Iraqi justice minister steps down: 2 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... Iraqi Justice Minister Hashem al-Shibli resigns, making him the first minister to quit since the current government took office. Al-Shibli, who is a Sunni and a member of the Iraqi List faction, says he was stepping down because of differences...

Death sentence sought for Chemical Ali: 2 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... Prosecutors in Iraq demand the death sentence for five defendants, including Saddam Hussein's cousin Hassan al-Majid, known as Chemical Ali. Al-Majid allegedly masterminded the anti-Kurdish campaign in the 1980s.

Kuwait unveils new government: 3 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... Kuwait swears in a new government following the resignation of the previous cabinet. The 16-member cabinet has six newcomers and was formed on 25 March by Emir Shaikh Sabah al-Ahmad al-Sabah.

Iranian diplomat freed in Baghdad: 3 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... The second secretary at the Iranian embassy in Baghdad, Jalal Sharafi, is released two months after he was kidnapped in the Iraqi capital. Tehran had alleged the diplomat was abducted by an Iraqi military unit under US command.

Middle East envoy to quit: 4 April.(NEW DIGEST on MEED.com this week)(Brief article)
April 6, 2007... The UN envoy to the Middle East, Alvaro de Soto, is to step down. "He had indicated his desire to move on, but [UN Secretary General] Ban Ki-moon asked him to stay on through his current contract, which lasts until May 7, when we expect his...

Green shoots: countries in the Gulf have a poor record on environmental issues but there are signs that attitudes may be starting to change.(ENVIRONMENT)(Cover story)
April 6, 2007... The Gulf is bracing itself for more bad news. On 6 April the Intergovernmental Panel on Climate Change (IPCC) will release the second part of its Climate Change 2007 report and the findings are expected to be an uncomfortable read for the...

High and dry: countries in the Middle East and North Africa must review their economic policies to better manage water supply and reduce the impact of climate change, according to a new World Bank report.(BRIEFING: WATER MANAGEMENT)
April 6, 2007... Essential to human survival, water is a resource the Middle East & North Africa (MENA) region has had to manage with care for centuries. It is the driest part of the world, with only 1,100 cubic metres a year (cm/y) per capita of renewable...

Bidding opens on Yanbu joint venture: international contractors invited to tender.(SAUDI ARABIA)(Brief article)
April 6, 2007... The local/US joint venture of Saudi Aramco and ConoeoPhillips has formally launched the bidding process for its multi-billion-dollar Yanbu export refinery by inviting international contractors to submit expressions of interest in the project....

Euro-Arab considers Iraq gas pipeline link.(REGIONAL)(Euro-Arab Mashreq Gas)(Brief article)
April 6, 2007... Plans for a regional gas market covering Egypt, Jordan, Syria and Lebanon could be expanded to include Iraqi gas, according to a senior project source. The Damascus-based Euro-Arab Mashreq Gas Project, which is preparing a framework for a...

Locals close gas plant shortlist.(LIBYA)
April 6, 2007... The local Sirte Oil Company (SOC) and the UK/Dutch Shell Group have shortlisted contractors for the rejuvenation of the Marsa al-Brega liquefied natural gas plant. The shortlisted companies have yet to be informed they have made the list...

Contractors bid for refinery.(SAUDI ARABIA)(Ras Tanura refinery)(Brief article)
April 6, 2007... International contractors submitted prequalification applications on 31 March for the contract to install a diesel hydrotreater (DHT) unit at the Ras Tanura refinery The estimated $450 million-500 million engineering, procurement and...

Rising costs threaten Fujairah refinery project.(UAE)(Brief article)
April 6, 2007... High costs are threatening to lead to the cancellation of the construction of the US' ConocoPhillips' 500,000 barrel-a-day (b/d) grassroots refinery at Fujairah on the east coast. US investment bank Citigroup estimates that costs for the...

Negotiations begin over Chinese refinery.(SYRIA)(Brief article)
April 6, 2007... The Petroleum & Mineral Resources Ministry is in negotiations with China National Petroleum Corporation over the terms of reference for a $1,400 million grassroots refinery at Deir al-Zor in the east of the country; according to a senior...

Ras Issa invites prequalification.(YEMEN)(oil terminal )(Brief article)
April 6, 2007... The project directorate of the Ras Issa oil terminal scheme has invited international contractors to submit prequalification applications by 5 May for two major contracts to build an oil terminal at Ras Issa on the Red Sea coast. The two...

Iran tension leads to oil price high.(OIL PRICES)(Brief article)
April 6, 2007... Oil prices hit a seven-month high in the week before retreating by almost $1.50 in a single day. Brent oil traded at $68.19 on 3 April, compared with $66.10 a barrel on 28 March, after reaching a seven-month high of $69.58 on 2 April. ...

Pipeline to run from Dhahran to Sitra.(REGIONAL)(Saudi Aramco)(Brief article)
April 6, 2007... The pre-front-end engineering and design contract for the Saudi Arabia-Bahrain pipeline project has been completed, with the route expected to run directly from the Abqaiq processing facility. Saudi Arabia's bar al-Riyadh completed the...

Firms submit bids for Karan gas field.(SAUDI ARABIA)(Brief article)
April 6, 2007... Five international contractors and consultancy firms are understood to have submitted bids on 3 April for the joint front-end engineering and design and project management consultancy contract on the onshore portion of the Karan gas field...

KS seals offshore rig deal.(REGIONAL)(KS Energy Services)(Brief article)
April 6, 2007... Singapore's KS Energy Services has finalised a $148 million deal with a Saudi Arabian private equity firm to build its first offshore oil drilling rig in Sharjah. The energy firm will hold a 50 per cent stake in the venture, with Saudi...

Statoil completes well tests.(ALGERIA)(Brief article)
April 6, 2007... Norway's Statoil has completed and tested its first onshore exploration and appraisal well in the 23,000-square-kilometre Hassi Mouina block in the west. The well, aimed at appraising an earlier discovery by state energy company Sonatrach,...

Aramco awards two pipeline contracts.(SAUDI ARABIA)(Faysal M Qahtani Sons Company)(Stroytransgaz)(Brief article)
April 6, 2007... The local Faysal M Qahtani Sons Company (FMQ) and Russia's Stroytransgaz have been awarded two contracts, totalling more than $450 million, for the construction of two major pipelines. The client on both schemes is Saudi Aramco. FMQ won...

Emaar moves on Dead Sea development.(JORDAN)(Brief article)
April 6, 2007... Dubai-based Emaar Properties is moving ahead on its $500 million flagship mixed-use Samarah development on the Dead Sea. At least five companies are prequalified for the main infrastructure package, including Turkey's Aysel, another Turkish...

Towers projects set to invite bids; Gulf of Kuwait and Kuwait Business Town close to inviting tenders for construction after long delay.(KUWAIT)(Brief article)
April 6, 2007... Local and international contractors are preparing for the issue of tenders for the main construction packages on two of the largest commercial tower projects in the state: the Gulf of Kuwait and Kuwait Business Town. Both projects were...

Tripoli to invest $40bn in infrastructure projects.(LIBYA)(Brief article)
April 6, 2007... Tripoli plans to invest LD 50,000 million ($40,900 million) in housing and infrastructure projects over the next five years. The Housing & Infrastructure Board (HIB) will be responsible for the construction of 450,000 housing units across the...

Ministry draws up masterplan for medical city.(YEMEN)(Brief article)
April 6, 2007... The Planning & International Cooperation Ministry is to develop the new Al-Saleh medical city in Dhahr Hemiar near Sanaa. The new centre, one of the largest healthcare projects in the country; is in line with the government's second...

Design changes delay Subiya causeway.(KUWAIT)
April 6, 2007... The tender for the contract to design and build the estimated $1,500 million-2,000 million Subiya causeway is to be delayed until the end of the year at the earliest, after environmental issues and planning changes forced revisions to the...

Samsung wins bridges contract.(UAE)
April 6, 2007... South Korea's Samsung Corporation has been awarded an estimated AED 350 million ($95 million) contract to build six bridges on the Palm Jebel Ali. The design and build contract involves four of the bridges linking different sections of the...

Tripoli goes ahead with dated masterplan.(LIBYA)(Brief article)
April 6, 2007... The government is pressing ahead with a masterplan for the Tripoli region using out-of-date designs, despite a new masterplan being prepared for next year. The state-owned National Consulting Bureau (NCB), together with India's Secon, is...

Al-Jaber bids low for interchange.(UAE)(Brief article)
April 6, 2007... The local Al-Jaber Group is the low bidder at AED 754 million ($205 million) for the reconstruction of the Mafraq interchange. The two-year contract involves the construction of twin, 37-metre-long bridges, 1,728 metres of viaducts, five...

Jubail 3 complex talks begin: discussion follows overwhelming private sector interest in Jubail 2.(SAUDI ARABIA)(Royal Commission for Jubail and Yanbu)(Brief article)
April 6, 2007... Early stage talks are under way for the construction of a 'Jubail 3' complex alongside the industrial sites under development in the city. It follows massive interest in the second phase of the scheme and should lead to further...

Lisco granted expansion loan by local banks.(LIBYA)(Brief article)
April 6, 2007... Five local banks have agreed to grant the Libyan Iron & Steel Company (Lisco) an LD 840 million ($686 million) loan. It plans to use the funds to increase its production capacity. Tripoli says the loan will help Lisco satisfy local demand...

Royal Commission calls for Saudi Landbridge extension.(SAUDI ARABIA)
April 6, 2007... The Royal Commission for Jubail & Yanbu (RCJY) has asked the Saudi Railways Organisation (SRO) for an extension to the Saudi Landbridge project as a boost for businesses in the industrial city. The RCJY is keen to establish a rail link on...

Jubail 2 and Ras al-Zour to form partnership.(SAUDI ARABIA)(Brief article)
April 6, 2007... A strategic partnership is being planned between the multi-billion-dollar industrial projects at Jubail 2 and Ras al-Zour. The Royal Commission for Jubail & Yanbu (RCJY), which oversees the industrial complexes at Jubail, reached an...

North-South rail contracts signed; three out of four construction deals awarded.(SAUDI ARABIA)
April 6, 2007... The Public Investment Fund (PIF) has awarded three of the four main construction packages on the multi-billion-dollar north-south railway, one of the most ambitious rail schemes of recent decades. The contracts were awarded on 3 April to...

Manana to buy up Gulf Air.(REGIONAL)(Brief article)
April 6, 2007... Manama is planning to take full control of Gulf Air, by buying out the stake owned by Muscat. The move would signify the first time the airline, which is currently held 50:50 by the two governments, was owned by just one country "We have...

Eight prequalify for Riyadh water: network management contract to last six years.(SAUDI ARABIA)(Brief article)
April 6, 2007... The Ministry of Electricity & Water and the National Water Company have issued requests for proposals to eight prequalified international groups for the contract to manage Riyadh's water network. The prequalifiers, which include three...

Disi conveyor award nears.(JORDAN)(Brief article)
April 6, 2007... The Water & Irrigation Ministry is set to make an award by the end of April for the 25-year build-operate-transfer contract to develop the $600 million Disi Mudawarra-Amman water conveyor project, according to senior officials at the ministry....

Shuaibah project heads for financial close.(SAUDI ARABIA)(Brief article)
April 6, 2007... Bayern LB of Germany has been appointed mandated lead arranger on the $240 million expansion of the Shuaibah independent water and power project (IWPP). The project, which will involve the addition of 33 million gallons-a-day of reverse...

Bids invited for power plant.(SAUDI ARABIA)(Brief article)
April 6, 2007... Saudi Electricity Company (SEC) has tendered another power plant project, inviting contractors to submit bids by 2 June for an electricity generating facility at Rabigh on the Red Sea coast. The engineering, procurement and construction...

Energy firms sign power purchase agreement.(QATAR)(Brief article)
April 6, 2007... The power purchase agreement has been signed for the 2,000-MW Mesaieed independent power project, some six months after the key project agreements were initialled. Signed by Qatar General Electricity & Water Corporation (Kahramaa) and the...

Fertiliser plant receives bids.(SAUDI ARABIA)(Brief article)
April 6, 2007... At least three groups submitted technical bids by the 1 April deadline for the contract to build the power and desalination plants serving the Ras al-Zour fertiliser complex, planned by Saudi Arabian Mining Company (Maaden). The bidders...

Local firm wins sewage plant bid.(UAE)(Al-Ahmadiah Aktor)(Jebel Ali sewage treatment plant)(Brief article)
April 6, 2007... The local/Greek Al-Ahmadiah Aktor has been awarded the AED 1,549 million ($422 million) contract to build the first phase of the grassroots Jebel Ali sewage treatment plant. The two-year contract involves the construction of a...

Speculators spark concern: Central Bank criticised for failure to rule out currency revaluation.(KUWAIT)(Brief article)
April 6, 2007... Economists have criticised the Central Bank of Kuwait for acting too slowly to prevent currency traders profiting on an expected revaluation of the dinar. The central bank has announced measures to tackle currency speculation but since the...

Emir reshuffles cabinet ministers.(QATAR)(Shaikh Hamad bin Jassim Jaber al-Thani)(Brief article)
April 6, 2007... Emir Shaikh Hamad bin Khalifa al-Thani reshuffled the Council of Ministers (cabinet) on 3 April, appointing Foreign Affairs Minister Shaikh Hamad bin Jassim Jaber al-Thani as the new prime minister alongside his existing position. Of the...

Sectors open up to foreign investors under trade deal.(SAUDI ARABIA)(Brief article)
April 6, 2007... In a significant further opening up of the market, by the end of 2008 foreign investors will be able to own up to 75 per cent of local companies in the insurance, air and rail sectors as well as in the wholesale and retail trade. Currently...

Qatar spending budget hits record highs.(KUWAIT)(Brief article)
April 6, 2007... The government has unveiled a budget with QR 72,460 million ($19,900 million) in spending for the next year, the country's largest to date. The 2007-08 budget has been based on an oil price of $40 a barrel, compared with the previous...

Real estate fund to close: $500 million to be invested in mixed-use developments across region.(UAE)(Brief article)
April 6, 2007... Al-Futtaim Capital (AFC) is to close its $500 million MENA development fund in June. The company will itself invest $75 million in the fund, which will help finance AI-Futtaim Group's development of three real estate projects in the UAE...

Three compete for central bank headquarters.(Central Bank of Kuwait plan to build new headquarters)(Brief article)
April 6, 2007... The Central Bank of Kuwait is pushing ahead with plans for its new headquarters with three bids in to build the offices. At 240 metres high the estimated KD 100 million ($344 million) project Hill be an iconic tower for the state. The...

Fitch warns of volatility threat to banking sector.(BAHRAIN)(Brief article)
April 6, 2007... Credit ratings agency Fitch has warned that the region's volatile stock markets and property sector pose a risk to the otherwise positive trends improving the profitability of the local banking sector. Fitch also says competition in the...

$500 million bond launch.(BAHRAIN)
April 6, 2007... Arab Banking Corporation will issue a $500 million bond as part of its $2,500 million euro-medium term note programme. The debt will be issued in dollar-denominated notes with a tenor of 10 years and priced at 85 basis point over Libor (London...

Samba signs loan deal.(SAUDIA ARABIA)(Samba Financial Group)(Prophet Mohammed Mosque)(Brief article)
April 6, 2007... Samba Financial Group is the mandated lead arranger on a SR 2.975 million ($793 million) sharia-compliant syndicated loan to finance the expansion of the Prophet Mohammed Mosque in Medina. Samba has taken a SR 1.000 million ($267 million) stake...

NCB capital soars.(SAUDI ARABIA)(National Commercial Bank)(Brief article)
April 6, 2007... The National Commercial Bank (NCB) has increased its capital by two-thirds to SR 15,000 million ($3,999 million) through the issue of new shares, The bank will distribute two shares for every three held to raise its capital from SR 9,000...

CME considers sharia.(REGIONAL)(Brief article)
April 6, 2007... The Chicago Mercantile Exchange (CME) is considering developing sharia-compliant futures and options products. "if there is cash looking to be invested in a product, we look at it." says Arman Falsafi, CME managing director for Europe, Middle...

Arabian Bemco extends New Doha airport finance.(QATAR)(New Doha International Airport)(Bemco Contracting Company )(Brief article)
April 6, 2007... Local Bemco Contracting Company has secured an extension to its credit facility for financing its utility project at the New Doha International Airport. The local subsidiary of Jeddah-based Arabian Bemco has increased the size of its loan...

Marafiq syndicates debt.(SAUDI ARABIA)(Brief article)
April 6, 2007... Syndication has started on the debt package for the Jubail independent water and power project (IWPP), planned by the Power & Water Utility Company for Jubail & Yanbu (Marafiq). The debt package is made up of an equity bridge loan of about...

Regulator calls for transparency: better corporate governance could increase share values by 30 per cent.(UAE)(Brief article)
April 6, 2007... Improving the standards of transparency and corporate governance in Dubai could increase the value of shares by as much as 30 per cent and help stabilise equity markets, says one of the region's most senior regulators. Nasser al-Shaali,...

Solidere reports net profit rise.(LEBANON)(Financial report)(Brief article)
April 6, 2007... Beirut-based developer Solidere has seen a 22 per cent rise in net profits to $132 million for 2006, according to results released on 3 April. The profits are attributed to an 8 per cent rise in revenues from land and real estate sales,...

Kipco to increase holdings in existing investments.(KUWAIT)(Brief article)
April 6, 2007... Kuwait Projects Company (Kipco) is planning to use the proceeds from the recent sale of its stake in Wataniya Telecom to increase holdings in its existing investments. The company led a consortium of shareholders that sold their combined...

Bemco appoints chief executive for development.(SAUDI ARABIA)(Arabian Bemco)(Brief article)
April 6, 2007... Jeddah-based Arabian Bemco has made the first major management appointment for its new joint venture, United Infrastructure Development Company (UIDC),which is due to be launched later in April. Hans-Dieter Martin, previously Middle East...

Linked fortunes: when the Dubai bourse falters, Emaar Properties' share price also falls.(MARKET IN FOCUS: UAE)
April 6, 2007... The Dubai Financial Market (DFM) seemed to be on the brink of recovery, but the bourse has again shifted into reverse, dispelling hope that it had reached the bottom. One of the keys to its performance is Emaar Properties, the second largest...

Forthcoming events.(Calendar)
April 6, 2007... ARABIAN HOTEL INVESTMENT CONFERENCE Global Aspirations Exploring the Dynamics of the Middle East Hotel Investment Industry 28-30 April 2007 Madinat Jumeirah, Dubai, UAE www.arabianconference.com The conference theme...

Shifting gear: buying a stake in the McLaren Formula 1 racing team marked the start of a new commercial phase for the Bahrain government as it takes on the region's biggest players.(SPECIAL REPORT: BAHRAIN)(Mumtalakat)
April 6, 2007... When the government's new investment holding company, Mumtalakat, grabbed a 30 per cent stake in Formula 1 team McLaren at the start of 2007, the world took notice of an island that had rarely before strayed onto global radar screens. ...

Focus switches to developing resources: the kingdom is working to end its reliance on imported raw materials, as the ongoing cement shortage causes project delays.(CONSTRUCTION)
April 6, 2007... The production problems that have halved the output of a cement factory in Saudi Arabia's eastern province are threatening to delay many of the kingdom's construction projects. "It is causing serious problems," says a local contractor. "And I...

Bank takes centre stage: a new Islamic bank in Manama is aimed at reaffirming Bahrain's reputation as the regional centre for sharia-compliant finance.(BANKING & FINANCE)
April 6, 2007... The promised arrival of the world's largest Islamic bank in Manama will return the spotlight to Bahrain as the global centre for sharia-compliant banking and finance. The proposed $100,000 million bank will trounce competition from Dubai, Kuala...

Productivity drive begins: seventy-five years after first discovering oil, Bahrain is exploring ways to increase production and ease its reliance on imports.(OIL & GAS)
April 6, 2007... Bahrain shot to fame in the Middle East in 1932 as the first Gulf state to discover oil. Seventy-five years later, it holds the dubious distinction of being the only GCC state to import oil, while it is similarly stretched in terms of securing...

Kingdom opens 'Gateway to Arabia': in a bid to double tourism's contribution to GDP by 2014, Bahrain is refining its industry strategy.(TOURISM)
April 6, 2007... For a moment in January it appeared that Bahrain had eclipsed its regional neighbours and its previous coup of bringing Formula 1 to the region. The international media jumped on an innocuous story suggesting that one of the world's wealthiest...

Tenders.(BUSINESS OPPORTUNITIES)
April 6, 2007... BAHRAIN Generator transformer Tender no 093/2007/4130. Supply and installation of a generator transformer for Riffa power station. Bid bond is BD 4,000. Details on payment of $135 from Ministry of Electricity & Water, Purchasing...

Contracts: March.
April 6, 2007... More than $9,528 million worth of contracts was awarded in the Middle East in March, according to this selected checklist compiled from MEED reports. For up-to-date information on the region's largest projects, go to www.meedprojects.com ...

Gulf projects.(DATABANK)(Statistical table)
April 6, 2007... GULF PROJECTS * ($ million) 6 Apr 6 Mar % change 6 Apr % change 2007 2007 on month 2006 on year Bahrain 32,035 32,670 -1.9 27,430 ...

Commodities prices.(DATABANK)(Statistical table)(Brief article)
April 6, 2007... COMMODITIES PRICES ($) 6 Apr 2005-07 2005-07 2007 High Low Energy Brent crude (barrel - Apr 07) 68.2 78.4 51.1...

Middle East oil production.(DATABANK)(Statistical table)
April 6, 2007... MIDDLE EAST OIL PRODUCTION (million barrels a day) Feb Jan % Feb % 2007 2007 change 2006 change on month on year ...

Capital markets.(DATABANK)(Statistical table)
April 6, 2007... CAPITAL MARKETS MIDDLE EAST MARKETS 2 Apr % change % change Market on week on year cap ($ ...

Economic indicators, 2006.(DATABANK)(Statistical table)
April 6, 2007... ECONOMIC INDICATORS, 2006 GDP Population Population GDP (at current (million) growth per capita prices) (%) ...

Exchange rates.(DATABANK)(Statistical table)
April 6, 2007... EXCHANGE RATES [pounds $ sterling] [euro] 1 0.51 0.75 Algeria (AD) 71.60...

Leadership is needed as world heads for economic storm: the world economy faces turmoil as US growth slows and global stock markets slump. Difficult times are ahead for investors in Gulf equities and oil consumers everywhere.(THE LAST WORD: EDMUND O'SULLIVAN)(Conference news)
April 6, 2007... Financial Times chief economics commentator Martin Wolf said at the World Retail Congress in Barcelona at the end of March that he expected a period of economic turbulence. The US is slowing and inflation is bound to hinder growth in China,...

Tehran's dilemma.(COMMENT)(mounting international pressure on Iran over nuclear energy issue)
April 13, 2007... Iran has scored most of the propaganda points in its latest political confrontation with the West. Its capture of 15 UK sailors and marines in late March showed it has the ability and the will to hurt coalition forces if they press it too far...

Nuclear production starts: Ahmadinejad says uranium enrichment is on an industrial scale.(IRAN)(President Mahmoud Ahmadinejad )
April 13, 2007... Tehran announced on 9 April that it had started enriching uranium on an industrial scale, defying three UN resolutions demanding that it suspends the process. Western countries say Iran wants to enrich uranium to make a nuclear bomb, but Iran...