MEED Middle East Economic Digest articles from August 2007

MEED Middle East Economic Digest archives from August 2007

Crunch time.(COMMENT)(Brief article)
August 3, 2007... From media to automotive to drinks companies, the credit crunch is starting to affect major international take-over deals worldwide. It started in late 2006 in the US, with a crash in the sub-prime lending market, where giving loans to people...

Looking back ...(SEVEN DAYS)
August 3, 2007... 3 August 1967 The Japanese oil industry considers moving into the Middle East by buying concessions from the Pan-American Oil Company in the United Arab Republic [Egypt] following the Arab-Israeli war. 31 July 1992 In a speech on...

On the record.(SEVEN DAYS)(Quotation)
August 3, 2007... "HE LOOKS FORWARD TO CONTINUED DISCUSSIONS WITH YOU AND HE IS READY TO DISCUSS THE FUNDAMENTAL ISSUES THAT WILL LEAD TO NEGOTIATIONS SOON FOR THE CREATION OF A PALESTINIAN STATE" US Secretary of State Condoleezza Rice tells Palestinian...

UN passes Darfur resolution: Khartoum under increasing pressure to co-operate with peacekeepers.(SUDAN)
August 3, 2007... The UN Security Council unanimously agreed to establish the world's largest peacekeeping operation on 31 July. Resolution 1769 creates a 26,000-strong force in Darfur, made up of UN and African Union (AU) personnel. Following the diplomatic...

Arms sale boosts relations between US and Riyadh.(SAUDI ARABIA)(Brief article)
August 3, 2007... Relations between the US and Saudi Arabia appear to have improved with a multi-billion-dollar arms sale to the kingdom on 30 July. The deal comes after unusual public criticisms from both sides. The announcement of the arms sale came only...

Abbas hopes for peace in a year: 27 July.(NEWS DIGEST on MEED.com this week)(Mahmoud Abbas)(Brief article)
August 3, 2007... Palestinian Authority President Mahmoud Abbas says he hopes peace with Israel will be achieved in a year. Abbas adds that US President Bush wants an agreement before he leaves office in January 2009. Abbas says he will also continue to push for...

Baghdad fails to move on reconstruction: 30 July.(NEWS DIGEST on MEED.com this week)(Brief article)
August 3, 2007... Stuart Bowen, a US special inspector general in Iraq, says Baghdad is failing to take responsibility for reconstruction. The US has completed 2,797 reconstruction projects at a cost of $5,800 million, but only 435 have been transferred to the...

Arab League meets to discuss peace: 30 July.(NEWS DIGEST on MEED.com this week)(Brief article)
August 3, 2007... Arab foreign affairs ministers meet in Cairo to discuss developments on a Middle East peace plan. The ministers hear reports on the recent visit to Israel by Egypt's Ahmed Aboulgheit and Jordan's Abdelelah al-Khatib to promote the Arab League...

EU agrees funding for Rabat: 30 July.(NEWS DIGEST on MEED.com this week)(European Union)(Brief article)
August 3, 2007... The EU agrees to give Morocco Eur 654 million ($895 million) for social and economic development. The funding will also be used to support human rights, the environment and capacity building at state institutions.

Government confirms new weekend: 31 July.(NEWS DIGEST on MEED.com this week)
August 3, 2007... The Kuwaiti government has confirmed plans to move its weekend to Friday and Saturday from 1 September. The move is aimed at aligning the working week more closely with the rest of the world.

Boycott overshadows Jordan election: 31 July.(NEWS DIGEST on MEED.com this week)(Brief article)
August 3, 2007... Jordan's largest political party withdraws from municipal elections. The Islamic Action Front accuses the government of sending security personnel to constituencies where its candidates are standing, and allowing only half the seats in Amman's...

Russia supports Abbas over Hamas: 31 July.(NEWS DIGEST on MEED.com this week)(Brief article)
August 3, 2007... Following talks in Moscow, Russian President Putin expresses his support for his Palestinian counterpart, Mahmoud Abbas. Putin calls Abbas the "legitimate leader of all Palestinians". Moscow also signals its intention to downgrade relations...

Cheney insists US surge is working: 1 August.(NEWS DIGEST on MEED.com this week)(US Vice-President Dick Cheney )(Brief article)
August 3, 2007... US Vice-President Dick Cheney insists that the surge of US troops in Iraq has improved security in the country in a TV interview on 31July. A day later, at least 67 Iraqis are killed and 100 wounded in two bombings in the capital, Baghdad....

Jubilation.(SEVEN DAYS)(Brief article)
August 3, 2007... Fans celebrate in Baghdad after the Iraqi football team secured an unexpected 1-0 victory over Saudi Arabia in Jakarta on 29 July, to lift the Asian Cup for the first time. Captain Younes Mahmoud scored the winning goal in the 72nd minute, with...

A gap in the market: many of the world's most famous retailers are now established in the Middle East, but prohibitive tax and trading rules are deterring some of the biggest firms from entering the market.(RETAIL OPPORTUNITIES)(Cover story)
August 3, 2007... Each evening, the air above Marrakesh's Jema al-Fna fills with sweet-smelting smoke as dozens of food stalls in the square prepare to cater for hungry tourists. As well as freshly cooked prawns, lamb and chicken, visitors can buy leather goods...

Testing the limits of nuclear power: while Tehran has avoided military strikes against its nuclear facilities, it faces further sanctions unless it can reach a compromise with the US and its allies.(BRIEFING: IRAN)
August 3, 2007... There has been no let-up in talks between Tehran and the West over its controversial nuclear programme. But while progress has been slow, there have been some potentially significant moves in recent days. On 30 July, inspectors from the UN's...

Tadawul goes by the book: Saudi Arabia was the first country in the GCC to allow all its institutions to participate in the pricing of new share offerings, but others are likely to follow.(BRIEFING: STOCK MARKET LISTING)
August 3, 2007... In a region where the price of most commodities can be negotiated, shares are an exception. To date, the price of shares in initial public offerings (IPOs) across the Gulf has been fixed by regulators before they have gone on sale to investors....

US pressure takes toll on South Pars: French bank withdraws $1.8bn funding.(IRAN)(Brief article)
August 3, 2007... Pars Oil and Gas Company (POGC) is to use the National Oil Stabilisation fund in a last-ditch effort to finance key phases of its South Pars project. It is the latest sign that US pressure on international banks to stay away is having an...

Falih heads operations in Aramco revamp.(SAUDI ARABIA)(Khalid Falih)(Brief article)
August 3, 2007... Saudi Aramco has created a new operations division, headed by Khalid Falih, heightening speculation that he is being groomed to replace current chief executive officer Abdallah Jumah. Falih, Aramco's senior vice-president of industrial...

Aramco converts Khursaniyah deal.(SAUDI ARABIA)(Saudi Arabia Petroleum Corp.)(Brief article)
August 3, 2007... Saudi Aramco has converted the key contract with the US' Bechtel and Paris-based Technip on the Abu Hadriyah, Fadhili and Khursaniyah oil field development to lump-sum turnkey status. After making a verbal agreement with the contractors in...

Council delays approval for mega-project budgets.(KUWAIT)(Brief article)
August 3, 2007... Budgets for major hydrocarbons projects in the state will only be approved and allocated once engineering is completed, a Supreme Petroleum Council source has told MEED. The move is aimed at avoiding situations where bids come in...

Local to finish Bid Boland.(IRAN)(Brief article)
August 3, 2007... The local Tehran Janoob expects to conclude construction of storage tanks and pipelines for the $2,200 million Bid Boland gas refinery, in southern Iran by November. The UK's John Brown Hydrocarbons ended its involvement with the project and...

Downstream tender opens.(KUWAIT)(Kuwait National Petroleum Company KSC)(Brief article)
August 3, 2007... State refinery operator Kuwait National Petroleum Company (KNPC) has tendered two major contracts to improve the state's downstream infrastructure, The first engineering, procurement and construction contract covers the revamp of the drinking...

Drilling firm wins rig deal.(KUWAIT)(Brief article)
August 3, 2007... Kuwait Drilling Company has won two rig supply contracts. totalling more than KD 45 million ($160 million), from Kuwait Oil Company, The larger of the two five-year contracts, valued at KD 23.6 million ($83.7 million), is for a 1,500-HP rig for...

Trio vie for design work.(UAE)(Technip S.A.; Foster Wheeler; Bechtel )(Brief article)
August 3, 2007... Three contractors are understood to be competing for front-end engineering and design contracts on the grassroots expansion of the Ruwais refinery by Abu Dhabi Oil Refining Company (Takreer) Bechtel and Foster Wheeler of the US and Paris-based...

Delays hit international development plan.(LIBYA)(Brief article)
August 3, 2007... Plans for the country's first international oilfield development round, announced in late July, are unlikely to take place before 2008, according to analysts. Instead, the award of licences in a new exploration round later this year is likely...

Zadco puts Satah project on hold as costs spiral.(UAE)(Zakum Development Company )(Brief article)
August 3, 2007... Zakum Development Company (Zadco) has notified contractors that it has put its planned Satah offshore full-field development project in Abu Dhabi on hold. No specific reason has been given for the decision, but rising engineering,...

Dolphin invites sulphur interest.(QATAR)(Brief article)
August 3, 2007... Abu Dhabi-based Dolphin Energy has invited companies to prequalify by 20 August for the engineering, procurement and construction (EPC) contract on the common sulphur project. The work covers the integration of a liquid sulphur storage...

Oil supply fears drive price high.(OIL PRICES)(Brief article)
August 3, 2007... Crude oil neared record highs on speculation that demand will outpace supply. Brent crude traded at $77.87 a barrel on 1 August after hitting $78.21 on 31 July close to the record $78.40 reached on 14 July in 2006. Opec, under the...

Abu Dhabi views tower bids: contract to build air-traffic control tower is part of $8bn airport plan.(UAE)(Abu Dhabi International Ai)(Brief article)
August 3, 2007... Four companies have submitted bids for the contract to build an air-traffic control tower at Abu Dhabi International Airport. The 110-metre tower is part of the $8,000 million masterplan for the airport. The low bidder is South Korea's...

Multi-billion dollar post-war clean-up stalls over awards.(KUWAIT)(Brief article)
August 3, 2007... Plans for the multi-billion-dollar clean up of environmental damage caused by the 1990 Iraqi invasion and subsequent occupation appear to have stalled at an early stage. In a similar scenario to other major public sector projects of recent...

Al-Habtoor wins exhibition work.(UAE)(Al Habtoor Engineering Enterprises Company Private Ltd.)(Brief article)
August 3, 2007... The local Al-Habtoor Engineering Enterprises has been selected for the estimated AED 800 million ($218 million) contract to build the third phase of Abu Dhabi National Exhibition Centre. The contract involves the construction of a mixed-use...

Sungwon takes road deal.(BAHRAIN)(Brief article)
August 3, 2007... South Korea's Sungwon Corporation has been awarded the estimated BD 41 million ($109 million) lssa town interchange. The 33-month contract involves the construction of a three-level interchange, including a flyover and underpass, on Shaikh...

Zabeel plans Logo Island.(UAE)(Zabeel Investments)(Brief article)
August 3, 2007... Local developer Zabeel Investments plans to build a resort on one of the two small islands on either side of the trunk of the Palm Jumeirah. Known as Logo Island, the estimated AED 250 million ($68 million) resort will be built on the...

Al-Mazaya makes awards.(UAE)(Al-Mazaya Holding)(Brief article)
August 3, 2007... Local developer Al-Mazaya Holding has awarded two contracts for its developments at Dubailand, india's Simplex Infrastructure has been awarded a AED 319 million ($87 million) contract to build 838 residential units at the Liwan development. The...

Abu Dhabi plans beach.(UAE)(Brief article)
August 3, 2007... Abu Dhabi Municipality plans to develop the Khalidya beach area on Abu Dhabi island. The plans nvolve the construction of new beaches, public parks and other recreational areas. The project is part of a larger plan to develop the Abu Dhabi...

Gulf Air turns down talks: representatives claim more than 150 pilots have resigned since April.(BAHRAIN)(Brief article)
August 3, 2007... Gulf Air is refusing to negotiate further over its salary and benefits packages for pilots, according to staff representatives, despite losing almost a quarter of its pilots since a restructuring was announced in April. Officials at the...

Abu Dhabi puts transport under ministerial control.(UAE)(Brief article)
August 3, 2007... Abu Dhabi is to create a new Department of Transport to oversee the development of the emirate's transport infrastructure and services. According to the Policy Agenda 2007-08, released on 1 August: "A newly created department of transport...

Demand for air travel soars.(REGIONAL)(Brief article)(Statistical data)
August 3, 2007... Passenger demand in the Middle East aviation sector grew at almost three times the global average in the first half of 2007. Figures released by the International Air Transport Association (IATA) on 30 July show the Middle East led all...

Rail signals hit red light.(EGYPT)(Brief article)
August 3, 2007... The allocation of four rail signalling contracts in Egypt could be delayed until the middle of 2008. Bidding was due to open on the packages, worth $200 million in total, in the summer. However, the Egyptian Rail Authority, which had intended...

Saudia invites interest.(SAUDI ARABIA)(Saudi Arabian Airlines )(Brief article)
August 3, 2007... Saudi Arabian Airlines (Saudia) has sent out requests for proposals to prequalified companies bidding to take over the running of its cargo business. The deadline for expressions of interest passed on 29 July and officials at the airline are...

Dubai awards airport deals.(UAE)(Dubai World Central International Airport)(Brief article)
August 3, 2007... Dubai World Central International Airport has awarded two new air traffic system contracts. International Aeradio will provide meteorological systems at the new $33,000 million airport complex under construction at Jebel All, while Park Air...

Etihad to sponsor football.(UAE)(Etihad Airways P.J.S.C)
August 3, 2007... Etihad aims to conclude a deal with a high-profile European football team in the coming season as it looks to expand its sports sponsorship. On 30 July, the carrier announced a three-year deal to sponsor Harlequins, an English Premiership rugby...

State to convert oil to gas: technology could provide less polluting alternative to oil-fired plants.(KUWAIT)
August 3, 2007... Kuwait is set to introduce technology to convert oil to gas for use in power generation. The integrated gasification combined cycle (IGCC) technology would help it diversify its fuel sources and reduce carbon dioxide emissions while meeting the...

Riyadh considers plans for water regulation reform.(SAUDI ARABIA)(Brief article)
August 3, 2007... Riyadh is considering plans to set up a new water regulator in the kingdom. The move follows the recent launch of a plan to encourage private sector management of water networks and wastewater plants in Jeddah, the kingdom's second largest city...

Ministers deny project delays.(JORDAN)(Ministry for Water and Irrigation)(Brief article)
August 3, 2007... The Ministry for Water and Irrigation insists that no projects will be delayed despite a raft of top-level resignations in late July. Water minister Mohammed al-Alem and Health Minister Saad al-Kharabsheh stepped down on 29 July, after...

Schlegel shortlists Shiraz.(IRAN)(Shiraz Water and Wastewater Company)(Brief article)
August 3, 2007... Shiraz Water & Wastewater Company is due to issue a request for proposals by early September for the design-build-operate contract to construct a 100,000-cubicmetre-a-day wastewater treatment plant in Shiraz, in the west of the country....

Disi set for August award.(JORDAN)(Disi Mudawarra-Amman water conveyor project)
August 3, 2007... An award on the long-delayed Disi Mudawarra-Amman water conveyor project is due to be made by mid-August. Turkey's Gama Energy was low bidder for the 25-year build-operatetransfer contract when bids were opened in February. The project covers...

Locals win water deals.(KUWAIT)(Kuwait Controls Company and Khalid aI-Kharafi & Brothers awarded)(Brief article)
August 3, 2007... Kuwait Controls Company and Khalid aI-Kharafi & Brothers, both local, have won two contracts totalling $78.6 million to improve the state's water storage and distribution. Kuwait Controls has won a KD 8.7 million ($30 million) contract for a...

State invites Salalah bids.(OMAN)(Oman Power & Water Procurement Compan)(Brief article)
August 3, 2007... State-owned Oman Power & Water Procurement Company is due to issue a request for proposals for the Salalah independent water and power project by mid-August. At least 19 firms are prequalified. The new plant will have capacity of 15 million...

Sonelgaz issues open tender after lack of interest.(ALGERIA)(Brief article)
August 3, 2007... State energy company Sonelgaz has issued an open tender for a technical assistance contract, after failing to attract interest in the contract when it approached engineering consultants directly Companies have until early September to...

Government considers electricity tariff reforms.(SAUDI ARABIA)(Brief article)
August 3, 2007... Riyadh is considering reforming the tariffs it charges for electricity use, according to the Electricity & Co-Generation Regulatory Authority (Ecra). It follows just days after the Water & Electricity Ministry said it was considering...

State electricity provider to be split into divisions.(SAUDI ARABIA)(Brief article)
August 3, 2007... Riyadh is planning to divide Saudi Electricity Company (SEC) into separate divisions, as part of its electricity industry restructuring plan. It could be followed by privatisation of the new divisions. The Electricity & Co-Generation...

Operator plans acquisitions: Saudi Telecom sets aside $5,000 million to purchase regional rival.(SAUDI ARABIA)
August 3, 2007... Saudi Telecom Company is targeting regional telecoms companies with a $5,000 million war chest, after ruling out increasing its stake in Malaysian operator Maxis. Saudi Arabia's largest mobile phone operator bought a 25 per cent stake in...

Kingdom invites existing operators to bid for licence.(QATAR)(Brief article)
August 3, 2007... Qatar is restricting the competition for its second licence to telecoms operators that already run networks with more than 150,000 fixed-line customers. The kingdom's regulator, ictQatar, issued a request for information on 29 July to...

Virtual networks could raise $5bn.(REGIONAL)(Brief article)
August 3, 2007... Middle East telecoms companies could generate an extra $5,000 million a year in revenues by entering markets as virtual network operators (VNOs), according to a new report by telecoms consultant Delta Partners. Virtual networks avoid the...

Batelco faces price cuts.(BAHRAIN)(Bahrain Telecommunications Company B.S.C.)(Brief article)
August 3, 2007... Bahrain's Telecommunications Regulatory Authority (TRA) has imposed price cuts on Batelco, the incumbent fixedline telephone operator, for the second time in a month. The TRA ordered Batelco to reduce the amount it charges other operators to...

Licences go to auction.(IRAQ)(Brief article)
August 3, 2007... Iraq's Communications Ministry will auction three nationwide mobile phone licences on 16 and 17 August in Amman, Jordan. The winners of the 15year licences will be announced on 18 August. They will replace short-term licences held by IraQna, a...

Ministry decides shortlist.(KUWAIT)(Brief article)
August 3, 2007... Kuwait's Communications Ministry will announce the shortlist for the state's third mobile phone licence on 12 August. All shortlisted companies must have a partnership with an international telecoms operator. The two existing licences are held...

Du records $76.5m loss.(UAE)(Emirates Integrated Telecommunications Company)(Financial report)(Brief article)
August 3, 2007... Emirates Integrated Telecommunications Company (Du) lost AE 280.8 million ($76.5 million) in the three months to 30 June. The holder of the UAE's second mobile phone licence generated AED 302.8 million ($82.3 million) in the quarter as it...

Rabat invests $1.2bn to boost cement capacity.(MOROCCO)(Brief article)
August 3, 2007... Rabat has signed contracts worth $1,200 million to increase cement production, in an attempt to keep up with the rapid speed of economic development. The contracts, signed in late July, will increase production capacity by almost 50 per...

Abu Dhabi plans to diversify: Executive Council aims to move economy away from oil and gas.(UAE)(Brief article)
August 3, 2007... Abu Dhabi has launched a plan to diversify its economy away from oil and gas, by developing its tourism, aviation and other sectors. In its Policy Agenda for 2007 and 2008 launched on 1 August, Abu Dhabi's Executive Council outlines the...

Economic zones win powers to license developments.(EGYPT)(Brief article)
August 3, 2007... Egypt's Prime Minister Ahmed Nazif has given his country's nine special economic zones the power to issue their own licences for land development for the first time. "Licences have been one of the key complaints from investors in Egypt,"...

Inflation falls as price hikes slow.(QATAR)(Brief article)(Statistical data)
August 3, 2007... Inflation fell slightly to 12.8 per cent for the year to the end of June, as rents and utility bills rose more slowly than in the previous quarter. The index of rent, fuel and energy costs, which typically constitutes about 20 per cent of...

Sabic cuts agency funding: three export credit agencies dropped from $9,000 million Al-Kayan deal.(SAUDI ARABIA)
August 3, 2007... Saudi Basic Industries Corporation (Sabic) has dropped three export credit agencies from the financing of its $9,000 million Al-Kayan petrochemicals plant. Hermes of Germany, the US' Export Import Bank and Japan Bank for International...

Petrochemical finalises deal.(KUWAIT)(contracts of Petrochemical Industries Company and Kuwait Paraxylene Petrochemical Company )(Brief article)
August 3, 2007... Petrochemical Industries Company has finalised a $1,400 million project finance deal for Kuwait Paraxylene Petrochemical Company (KPPC), its joint venture with Kuwait National Petroleum Company and Al-Qurain Petrochemical Industries Company. It...

Alaqaria halves financing costs with Islamic bond.(QATAR)
August 3, 2007... Qatar Real Estate Investment Company (Alaqaria) has finalised a $300 million sukuk, the first Islamic bond from a Qatari company to be rated by international credit rating agencies. The deal, priced at 73 basis points over the London...

Gulf closes city financing.(BAHRAIN)(Gulf Finance House )(Brief article)
August 3, 2007... Bahrain's Gulf Finance House closed the $395 million fund raising for its Energy City India project on 31 July. The energyfocused business district will include an energy commodities exchange and requires a total investment of $2,000 million....

Riffa signs $82m deal.(BAHRAIN)(Brief article)
August 3, 2007... An $82 million project finance deal has been signed for the Riffa Views residential development. The deal with National Bank of Bahrain will fund the final stages of the project's construction. The development is a joint venture of Arcapita and...

Investors swamp Salalah.(OMAN)(Brief article)
August 3, 2007... The $560m financing for the Salalah Menthanol Project in Oman has been oversubscribed, It is at the documentation stage with mandated lead arrangers. They include Royal Bank of Scotland, which is also financial adviser, Gulf International Bank,...

Al-Sharia offers advice.(UAE)(Brief article)
August 3, 2007... Dubai Islamic Bank (DIB) has set up a sharia-compliant finance consultancy in partnership with sharia scholar Hussain Harold Hassan. The firm, Dar aI-Sharia, received its licence in early July and will undertake product structuring, advisory...

Dubai looks to US and China: government investment arm seeks opportunities beyond Middle East.(UAE)(Brief article)
August 3, 2007... Dubai International Capital (DIC), an investment arm of the Dubai government, is planning to make investments in the US and China in 2008, as it seeks to broaden its geographical reach beyond Europe and the Middle East. The company plans...

Al-Khaleeji listing heralds spate of activity for Doha.(QATAR)(Brief article)
August 3, 2007... Al-Khaleeji Bank has become the first listing of the year on the Doha Securities Market, with its shares debuting on 1 August. It is expected to be followed by severn more initial public offerings (IPOs) before the end of the year. ...

Abu Dhabi issues first $1bn bond.(UAE)(Brief article)
August 3, 2007... Abu Dhabi has launched its maiden $1,000 million bond, becoming the first emirate government to do so. The bond is priced at 85 basis points above five-year US Treasury notes and has a coupon rate of 5.5 per cent. "It seems cheap...

Share issue to go ahead.(EGYPT)(Egyptian Housing Development and Reconstruction)(Brief article)
August 3, 2007... The Capital Market Authority has granted Egyptian Housing Development & Reconstruction permission to issue the remaining shares in its rights issue. Subscription was due to open on 5 August for the 1.5 million shares and was expected to last...

Injazat seeks deposits.(UAE)(Injazat Capital)(Brief article)
August 3, 2007... Injazat Capital has applied to upgrade its category three banking licence to category one. The change would allow the investment and asset management firm to take deposits for the first time. The company is based in the Dubai International...

Taqa to issue notes.(UAE)(Abu Dhabi National Energy Company)(Financial report)(Brief article)
August 3, 2007... Abu Dhabi National Energy Company (Taqa) will launch a $1,000 million commercial paper programme in early August to issue short-term promissory notes. The notes will have a tenor of 397 days or less. The company has assets of $15,240 million...

Moody's to rate finance.(REGIONAL)
August 3, 2007... Ratings agency Moody's Investors Service has created a new division dedicated to rating project finance deals. The global project finance group aims to increase the reach of ratings for companies' project finance debt. Moody's currently rates...

Standard appoints chief.(REGIONAL)(appointment of Boon Huat Lee at Standard Chartered Bank)(Brief article)
August 3, 2007... Standard Chartered Bank has appointed Boon Huat Lee as regional head of global markets for the Middle East and North Africa. Lee previously held the same position in the bank's South East Asian operations. He will be responsible for the bank's...

Forthcoming events.(CONFERENCES)(Calendar)
August 3, 2007... PROJECT RISK MANAGEMENT IN CONSTRUCTION Developing innovative strategies to reduce risk and optimise project delivery 13-14 November 2007 Habtoor Grand Resort & Spa, Dubai www.meed.com/projectrisk While more than $1.4 trillion is being...

Acquiring rules: new regulations will bring increased takeover activity.(MARKET IN FOCUS: SAUDI ARABIA)
August 3, 2007... Despite several high-profile listings in the kingdom, the capital markets are no longer all about initial public offerings. New merger and acquisition (M&A) regulations, which are expected to be passed by the end of the year, will set the...

A disease of affluence: the prevalence of diabetes in the Middle East has risen alarmingly as the region's wealth has increased, threatening to reduce life expectancy and cost government and business millions of dollars.(SPECIAL REPORT: HEALTHCARE)(Statistical data)
August 3, 2007... The country with the highest prevalence of diabetes in the world is the island republic of Nauru in the South Pacific. According to the International Diabetes Federation (IDF), more than 30 per cent of its 14,000 population have the disease....

Reducing the state burden: as countries across the region struggle to cope with rapid population growth, healthcare is moving into the private sector.(PRIVATE HEALTHCARE)
August 3, 2007... If Emaar has its projections right, there will be a lot of ill people across the region over the next decade. The Dubai developer last year set up its own health unit, Emaar Healthcare, unveiling plans to build 100 hospitals over the next 10...

Taking on the drug giants: international drug firms are eager to capitalise on the booming Gulf economy, but face growing competition from the local sector.(PHARMACEUTICALS)
August 3, 2007... Over the past two decades, the Middie East & North Africa region has achieved significant advances in improving the health of its citizens. According to a World Bank report issued in August 2006, the region experienced a 10-year jump in life...