MEED Middle East Economic Digest articles from February 2004

MEED Middle East Economic Digest archives from February 2004

Going private.(Comment)(Editorial)
February 6, 2004... It has been hard to shift the world's attention from Iraq. President Bush has been pressured to launch an inquiry into pre-war intelligence, and US foreign policy--particularly in the Middle East--is central to the race for the Democratic...

On the record.(Seven Days)(Brief Article)
February 6, 2004... "Evading responsibility by resigning of any other method is illegal and religiously forbidden" Ayatollah Ali Khamanei warns reformists not to stand down from elections

Looking back ...(Seven Days)
February 6, 2004... 7 February 1964 Baghdad announces plans to create the Iraq National Oil Company, which will take over areas of the oil sector recently closed off to foreign oil companies 10 February 1989 As Iran prepares to celebrate the 10th...

Suicide attack fuels political turmoil: attacks intensify debate on the transition of power.(Iraq)
February 6, 2004... The death toll has reached more than 100 from the suicide attacks on the headquarters of the two main Kurdish parties in the northern city of Irbil on 1 February. No group claimed responsibility. Suspicions are divided between the militant...

Sharon reveals Gaza pullout plan.(Regional)
February 6, 2004... Israeli Prime Minister Ariel Sharon surprised his supporters and critics alike on 2 February when he announced a plan (or the evacuation of all 17 Israeli settlements in the Gaza Strip. The plan, revealed by the daily Haaretz newspaper, is...

Israeli troops raid Bethlehem.(30 January)(Brief Article)
February 6, 2004... Israeli troops move into the Palestinian town of Bethlehem, destroying the family home of the suicide bomber who killed 10 people in an attack on a bus in Jerusalem the previous day

Hundreds die in Saudi Hajj stampede.(1 February)(Brief Article)
February 6, 2004... More than 250 pilgrims are killed at Jamarat Bridge in Mina in a stampede during the ritual symbolic stoning of the devil that forms part of the annual Hajj pilgrimage, prompting King Fahd to order the modernisation of the holy cities of Makkah...

Iranian cabinet backs election delay.(2 February)(Brief Article)
February 6, 2004... An emergency meeting of the Iranian cabinet unanimously agrees to call for the postponement of elections, set for the 20 February, 24 to allow for the resolution of the dispute over the Guardian Council's ban on reformist candidates. On the...

Five die in Israeli raids.(2 February)(Brief Article)
February 6, 2004... Israeli soldiers kill four alleged Palestinian militants in the Rafah refugee camp and a member of Hamas in the Ayda camp near Bethlehem.

Japanese troops leave for Iraq.(3 February)(Brief Article)
February 6, 2004... The first members of a contingent of Japanese troops leave for Iraq to support the US-led coalition, in spite of strong domestic opposition to the deployment.

Iranian demonstration banned.(3 February)(student demonstration against Guardian Council)(Brief Article)
February 6, 2004... A planned student demonstration against the Guardian Council's bar on reformist election candidates is banned by the authorities in Tehran.

US, Libya to begin talks.(3 February)(Brief Article)
February 6, 2004... US Secretary of State Colin Powell announces that Washington and Tripoli will begin political discussions in London on 6 February. "We've seen a fascinating sign of change in Libyan attitudes," says Powell.

Forty-four nations file barrier submissions.(4 February)(complaints about the legality of the security wall around the West Bank in Israel)(Brief Article)
February 6, 2004... A statement from the International Court of Justice reveals that 44 of its members, along with the Palestinian Authority, the Arab League and the Organisation of the Islamic Conference, have filed submissions ahead of a 23 February hearing into...

Algiers demands explanation from Riyadh.(4 February)(Algerian Foreign Ministry complains to Saudi Arabian government)(Brief Article)
February 6, 2004... The Algerian Foreign Ministry demands an explanation from the Saudi government as to why Abassi Madani, the leader of a banned Algerian Islamist party, was invited to a royal reception in Riyadh.

Moroccan acquitted of terrorist charges.(5 February)(Brief Article)
February 6, 2004... A German court acquits a Moroccan national, Abdelghani Mzoudi, accused of assisting three of the hijackers involved in the 11 September 2001 terrorist attacks on the US.

Arabising IT: the Middle East has been slow to catch on to the IT revolution but some regionally-focused strategies are reaping rewards.(Sakhr Software's optical character reader)
February 6, 2004... The heralds of the IT revolution promised to create a single global village. However, they forgot one crucial point. Different villages speak different languages. Economic development is the most important source of the digital divide...

Computing the economic benefits: Arab governments are of necessity increasingly committed to developing their IT industries.(Analysis)
February 6, 2004... "There is no need for Arab societies to miss out on the digital revolution," said Bill Cates, chairman and chief software architect of Microsoft Corporation, addressing the Microsoft-sponsored Global Leadership Forum (GLF) in Cairo in late...

The expanding universe: David Murray, chief executive of Kuwait-based Wataniya Telecom, spoke to Tom Everett-Heath on the sidelines of the MEED Middle East Telecoms Conference held in Bahrain on 20-21 January.(Interview)(Interview)
February 6, 2004... Is Wataniya Telecom still looking to expand its regional platform? We are working on entering Iran in a consortium, but until you get close to the point of paying it is hard to know how the process will turn out. We have people working on...

Three foreign banks get licences: but legality of the CPA's licences in doubt.(Banking & Finance)(Brief Article)
February 6, 2004... The Central Bank of Iraq (CBI) on 31 January granted three five-year licences to international banks and said it was considering applications from up to 12 other banks. HSBC, Standard Chartered and National Bank of Kuwait (NBK) have been...

Work begins on the first Nash contracts.(Construction)(Coalition Provisional Authority awards contracts)
February 6, 2004... Construction began in late January on the first contracts to be awarded by the project management office (PMO) of the Coalition Provisional Authority (CPA), the organisation responsible for administering the $18,600 mil]ion reconstruction...

Car dealership revs up.(Transport)(Al-Dhahir Group and Bahrain's Zayani Motors in joint venture with Japanese company)(Brief Article)
February 6, 2004... The local Al-Dhahir Group and Bahrain's Zayani Motors have formed a joint venture company with paid in-capital of $8 million to market vehicles for Japan's Mitsubishi Motors Corporation. The new entity, known as Al-Rasheed Holding Company, will...

Big response to USAID personnel plea.(Construction)(Brief Article)
February 6, 2004... The US Agency for International Development (USAID) has received more than 36 expressions of interest for its 42-month contract to supply senior staff to oversee its mission in Iraq. The agency is seeking at least 41 experienced managers and...

Nour lands Iraqi Army supply contract.(Defence)(Nour USA awarded equipment contract by the Coalition Provisional Authority )(Brief Article)
February 6, 2004... The Coalition Provisional Authority (CPA) on 31 January awarded to Nour USA an indefinite delivery, indefinite quantity (ID/IQ) contract worth up to $328 million to procure equipment for the Iraqi Armed Forces and the Iraqi Civil Defence Corps....

MEED conferences: premier networking events.(Brief Article)(Calendar)
February 6, 2004... Major New Project & Investment Opportunities in Oman 24-25 February 2004, Oman Lead Sponsors: Bank Muscat Official Bank Sponsor: National Bank of Oman Co-Sponsor: Oman Polyapropylane LLC Iraq: Focusing on the Future ...

Forthcoming special reports.(TABLE)
February 6, 2004... 13 February Power 20 February Iraq 27 February UAE 5 March Lebanon/Syria 12 March Qatar 19 March Banking 26 March Saudi Arabia 2 April Oil & Gas...

KOC to prepare new EPC contractors list: KOC looks to update its list of EPC contractors in preparation for a new round of investment.(Kuwait)(Kuwait Oil Company KSC, engineering, procurement and construction )
February 6, 2004... Kuwait Oil Company (KOC) has invited small, medium and large international engineering, procurement and construction (EPC) contractors to submit prequalifications by 1 March for all of its future projects. At present, KOC has a list of...

Prequalification nears end on Qatargas II plant contract.(Qatar)(Brief Article)
February 6, 2004... Qatar Liquefied Gas Company II (Qatargas II) is expected to finalise the prequalification list by early March for the engineering, procurement and construction (EPC) contract on its project to build new gas export capacity at Ras Laffan. The...

AMEC gets area 1 KOC PMC work.(Kuwait)(Brief Article)
February 6, 2004... Kuwait Oil Company (KOC) is understood to have awarded a contract to the UK's AMEC to provide project management consultancy (PMC) services for all its future projects in the northern oil fields. Covering area 1, the contract is worth KD 38.7...

Another OGD-3/AGD-2 package goes for bid.(UAE)(Abu Dhabi Company for Onshore Oil Operations)
February 6, 2004... Abu Dhabi Company for Onshore Oil Operations (Adco) has invited companies to submit bids by 23 March for another engineering, procurement and construction (EPC) package on the third phase of the onshore gas development (OGD-3) and the second...

Strong turnout expected for new gas round.(Egypt)(Egyptian Natural Gas Company)
February 6, 2004... Bids are due on 15 April for six offshore blocks in the Mediterranean covering a total area of 7,250 square kilometres. As part of the same bid round, Egyptian Natural Gas Company (EGAS) in late January received bids for two onshore concessions...

Firms shortlisted for Jebel Ali terminal.(UAE)(Bridge and Iron)(Belleli and Punj Lloyd)(Larsen and Toubro)
February 6, 2004... Four companies--US-based Chicago Bridge & Iron, Italy's Belleli and Punj Lloyd and Larsen & Toubro, both of India--have been shortlisted for the contract to build a new petroleum products storage and distribution terminal at Jebel Ali. The...

KOC resets reserves target.(Kuwait)(Kuwait Oil Co.)
February 6, 2004... Kuwait Oil Company (KOC) has set a target to establish non-associated gas reserves of 7 trillion cubic feet by 2020 through an extensive exploration and delineation programme. At present, KOC produces 900 million-1,000 million cubic feet a day...

Pipeline contractors selected.(Libya)(MAN GHH)(Joannou and Paraskevaides (Overseas) Ltd.)(Sirte Oil Co.)
February 6, 2004... Sirte Oil Company (SOC) has selected Germany's MAN GHH and Athens-based Joannou & Paraskevaides (J&P-Overseas) for contracts on the Khoms-Tripoli and Melitah-Tripoli gas pipelines. SOC, a subsidiary of National Oil Corporation (NOC), plans to...

KOTC to acquire four new vessels.(Kuwait)(Kuwait Oil Tanker Co.)(Hyundai Heavy Industries)(Daewoo Shipbuilding)(Mitsubishi Heavy Industries)
February 6, 2004... State-owned Kuwait Oil Tanker Company (KOTC) has issued two separate tenders to build four new oil and gas tankers, Four companies are prequalified to submit bids for the first contract, which involves the construction of two very large gas...

Elephant field comes on stream.(Libya)
February 6, 2004... Production has started from the Elephant oil field development in block NC-174. The field, located in the Murzuq basin, has estimated recoverable reserves of more than 500 million barrels with oil production capacity of 50,000 barrels a day....

Samsung gets second tanker order.(Oman)
February 6, 2004... South Korea's Samsung Heavy Industries has signed a deal with the government to build a second liquefied natural gas (LNG) carrier with capacity of 147,000 cubic metres. The signing came nine months after the South Korean yard won a contract to...

Haradh GOSP-3 bid list down to five.(Saudi Arabia)(gas/oil separation plant)
February 6, 2004... Five companies are now understood to be preparing to submit bids by 17 February for the project to build a new gas/oil separation plant (GOSP) at Haradh for Saudi Aramco. Nine companies are prequalified to bid for the GOSP-3 plant contract, but...

Warmer weather ease prices.(Oil Prices)
February 6, 2004... Oil prices fell in the first week of February as the US thawed and speculators unwound long positions. However, the spike caused by two refinery tires indicated the market's nervousness in the run-up to OPEC's 10 February meeting in Algiers....

PMD closes in on JV partners: May selection likely, says PMD CEO.(Saudi Arabia)(Project Management and Development Co.)
February 6, 2004... The local Project Management & Development Company (PMD) is aiming to select joint venture partners by May for its planned $3,000 million-3,500 million petrochemicals project at Jubail. "We are negotiating with more than one [potential] joint...

Banks bid for PE advisory mandate.(Oman)(polyethylene)
February 6, 2004... A number of international banks submitted bids by the 31 January deadline for the financial advisory position on the proposed polyethylene project in Sohar. They are expecting a mandate to be awarded in late February or early March. The...

Bidders line up for Kharg methanol.(Iran)
February 6, 2004... Four companies submitted revised prices by the extended 3 February deadline to National Petrochemical Company (NPC) for the engineering, procurement and construction (EPC) contract to build a methanol plant at Kharg petrochemical complex, The...

Technical bids in on Ras Laffan cracker.(Qatar)
February 6, 2004... Evaluation of technical bids has begun for the technology supply and engineering, procurement and construction (EPC) contract on the Ras Laffan cracker project. Four international groups are competing for the contract: US-based ABB Lummus...

SPC expansion to go ahead within months.(Saudi Arabia)(Saudi Polyolefins Company)
February 6, 2004... Saudi Polyolefins Company (SPC) is planning to move ahead with plans to carry out a major expansion of its polypropylene (PP) complex at Jubail once the company's first facility has come on stream. The 450,000-tonne-a-year PP plant is now...

Correction.(Saudi Arabia)(Correction Notice)
February 6, 2004... Europe's Basell is no longer the joint venture partner with the local National Petrochemicals Company (Natpet) in the local Teldene as was reported in MEED 23:1:04.

Hydropolis hotel moves forward: construction of underwater project to begin soon.(UAE)
February 6, 2004... Construction of the world's first underwater hotel, the Hydropolis, could begin before the end of the first quarter, says Joachim Hauser, the German architect and designer behind the estimated $500 million-600 million project. The completion of...

More Alba subcontracts let.(Bahrain)
February 6, 2004... Four more subcontracts have been awarded to local firms on the fifth potline expansion at Aluminium Bahrain (Alba). AA Nass has been awarded the civils contract on the alumina facilities and rectifier station. Comsip A'Ali won the contract to...

Bids in for Durrat read supervision.(Bahrain)
February 6, 2004... Technical bids are in for the construction supervision contract on the Durrat al-Bahrain highway project. The four bidders are the UK's Hyder Consulting, Parsons Global Services of the US, the UK/local High Point Rendel with Ismail Khonji...

Bids in for BCCI piling.(Bahrain)(Bahrain Chamber of Commerce and Industry)
February 6, 2004... Germany's Keller Grundbau is low bidder for a contract to carry out piling works at the new headquarters being built for the Bahrain Chamber of Commerce & Industry in the Sanabis area of Manama. The only other bid was submitted by Bahrain...

Five price Sitra read job.(Bahrain)
February 6, 2004... DHV International (UK) is low bidder at BD 1.2 million ($3.2 million) for the consultancy contract on the Sitra causeway expansion. Denmark's COWI with the local ACE Almoayed quoted the next lowest price, some 12 per cent higher at BD 1.4...

Fresh prices studied for Burj Dubai package.(UAE)(Emaar Properties)
February 6, 2004... Evaluation of new prices is under way at Dubai-based Emaar Properties for the pilings package on the landmark Burj Dubai project (MEED 30:5:03). The bidders are: Germany's Bauer; Swissboring, part of the Italy's Trevi Group; a joint...

Stage 1 of library tender out.(Qatar)
February 6, 2004... Qatar Petroleum (Qp) has issued the first set of tender documents for the main package on the estimated $150 million Qatar National Libraryproject. Stage 1 of the tender, known as the project information package, has been sent out to selected...

Airport projects move ahead.(Egypt)
February 6, 2004... The Civil Aviation Ministry is pressing ahead with its national airport expansion plan, with the simultaneous selection of prequalifiers for the expansion of Cairo and Sharm el-Shaikh international airports. The Japanese government has also...

Bids studied for Shuwaikh hospital.(Kuwait)
February 6, 2004... Three local companies nave submitted bids for the contract to build a cardiac care hospital at Shuwaikh. They are Ahmadiah Trading & Contracting Company Mohamed Abdulmohsin Kharafi & Sons and Burhan International Contracting Company. The...

CDR tenders southern road upgrade.(Lebanon)(Council for Development & Reconstruction)
February 6, 2004... The Council for Development & Reconstruction (CDR/ has invited contractors to bid by 30 March for a contract to rehabilitate the 18,5-kilometre coastal road between Tyre and Naqoura on the southern border, the project consists of the...

COWI wins F16 hangar design work.(Oman)
February 6, 2004... The local/Danish COWI & Partners Oman is carrying out design work on a 3roDosed hangar and training complex to house the sultanate's fleet of new Ft6 fighter aircraft. Located at Thumrait on the Guff of Oman, the project entails in the first...

Strong interest in ceremonial route project.(Oman)
February 6, 2004... Eight international and local companies are understood to have expressed an interest in the project to build a ceremonial route through the centre of Muscat to Qasr al-Alam palace, They are Athens-based Consolidated Contractors International...

Overhaul of aviation sector gathers pace: foreign operators approached.(Egypt)
February 6, 2004... Senior officials from the Civil Aviation Ministry conducted a tour of Europe in early February to elicit interest from international companies in the management of six of the country's biggest airports. The roadshow was arranged by BNP Paribas,...

KAC rethinks business strategy.(Kuwait)(Kuwait Airways Corporation)(Lufthansa Consulting)
February 6, 2004... State-owned Kuwait Airways Corporation (KAC) has awarded a one-year contract to Germany's Lufthansa Consulting to draw up a five-year network strategy and a long-term management strategy for the national carrier. The cabinet is understood...

Metro equipment supply tender to be issued soon.(Algeria)
February 6, 2004... The Transport Ministry will launch a tender by mid-March for the equipment supply contract on the Algiers metro project. The selected bidder will provide rolling stock for the eight-kilometre-long network when it finally opens at the end of...

Delays for Khouzestan Steel: twelve in for major expansion, says consultant.(Iran)
February 6, 2004... The bid deadline has been pushed back to 18 February for the direct reduction project at Khouzestan Steel Company (KSC). The company has also decided to carry out another major expansion project through direct negotiations with a local...

German-led group in line for Zanjan zinc.(Iran)(Iran Zinc Production Company)
February 6, 2004... A consortium led by Germany's Outokumpu-Lurgi Metallurgie has submitted the best price for the planned new zinc plant in Zanjan. The client, Iran Zinc Production Company (IZPC), is likely to confirm the company as its preferred bidder for the...

RFP out for Taweelah B/C IWPP: June bid deadline for ADWEA's biggest IWPP.(UAE)(request for proposals)(independent water and power project)
February 6, 2004... Abu Dhabi Water & Electricity Authority (ADWEA) issued in late January the request for proposals (RFP) for the Taweelah B/C independent water and power project (IWPP). Qualified developers have been given until 20 June to submit proposals for...

Areva wins two contracts.(Algeria)
February 6, 2004... France's Areva T&D. formerly known as Alstom T&D, has won two turnkey contracts totalling Eur 32 million ($40 million) with state power company Sonelgaz. The first contract worth Eur 25 million ($31.4 million), involves the refurbishment of the...

Cabinet cancels Irish maintenance deal.(Lebanon)(Shanahan Engineering)(Electricite du Liban)
February 6, 2004... The Council of Ministers cancelled in late January the decision by Electricite du Liban (EdL) to award Ireland's Shanahan Engineering a $16 million contract to carry out maintenance work on the Zahrani and Badawi gas power plants, Officials say...

QEWC looks at RAF desal again.(Qatar)(Qatar Electricity and Water Company)(Ras Abu Fontas B station)
February 6, 2004... Qatar Electricity & Water Company (QEWC) has revived plans to install additional desalination capacity at the Ras Abu Fontas B station and invited international consultants to submit bias in mid-February for a conceptual study contract. The...

Prequalification begins on Marafiq IWPP.(Saudi Arabia)(independent water and power project)
February 6, 2004... About 30 local and international developers have been approached to prequalify for the independent water and power project (IWPP) in Jubail, planned by the Power & Water Utilities Company for Jubail & Yanbu (Marafiq). Developers have until 21...

More capacity planned at H station.(UAE)
February 6, 2004... Dubai Electricity & Water Authority (DEWA) is preparing to receive consultancy bids on 10 February for a 400-MW expansion of the H station at Al-Aweer. The project is one of two major generation schemes planned by DEWA and underlines the...

Bids invited for first IPP.(Bahrain)(independent power plant)
February 6, 2004... The Finance & National Economy Ministry has issued the request for proposals (RFP) to prequalified developers for the kingdom's first independent power plant (IPP). Proposals are due by 1 May. The RFP calls for the developer to ensure the...

Usual list of suspects line up for Talkha civils.(Egypt)
February 6, 2004... Three groups of local and international contractors have been prequalified for the estimated $25 million-30 million civil works package on the 750-MW combined cycle project at Talkha, shortly after the same groups submitted bids for the civil...

Four in line for third mobile licence: regional players figure large among prequalified groups.(Jordan)
February 6, 2004... The Telecommunications Regulatory Commission (TRC) has prequalified four operators to bid for the country's third mobile network licence. Bids are due by 28 March. The four shortlisted companies are: Bahrain Telecommunications Company...

Beirut draws up new GSM plans.(Lebanon)
February 6, 2004... The government in late January officially scrapped the results of the auction and tender of the two cellular networks and authorised Telecommunications Minister Jean Louis Qordahi to restart the bidding process. The minister will by the end of...

Six bid for licence consultancy mandate.(Morocco)(Agence Nationale de Reglementation des Telecommunications)
February 6, 2004... Six firms submitted bids by 30 January for the six-month consultancy mandate to advise on the issue of a new telecoms licence. The client, telecoms regulator Agence Nationale de Reglementation des Telecommunications (ANRT), is planning to...

IMF concludes 2003 article IV consultation: commitment praised, but more reform urged.(Algeria economic development)(International Monetary Fund)(Brief article)
February 6, 2004... The strengthening of Algiers' economy over the past two years has been welcomed by the IMF, which concluded its 2003 Article IV consultations in mid-January. High economic growth, low inflation, a marked strengthening of the balance of...

AFESD extends two loans.(Sudan)(Arab Fund for Economic & Social Development)
February 6, 2004... Kuwait-based Arab Fund for Economic & Social Development (AFESD) has approved two loans to Khartoum totalling KD 39 million ($134 million). A KD 30 million loan ($103 million) was extended to part-finance the transmission and distribution...

EU goes Dutch on ministry reform.(Syria)
February 6, 2004... Dutch consultant Arcadis has been awarded a three-year EU contract to advise on the reorganisation of six Focal ministries and to provide technical assistance to the government. Under the Eur 5 million ($6.3 million) deal, Arcadis will help the...

BIB solution reaches end-game: conventional fire-sale should be avoided.(Regional)(Bahrain International Bank)
February 6, 2004... A proposal for the controlled sale of assets was approved at a late January extraordinary general meeting (EGM) of shareholders in defaulting Bahrain International Bank (BIB). "The asset realisation protocol can now more ahead," says one...

Saudi Oger signs financing.(Regional)
February 6, 2004... A $260 million, multi-tranche financing package for Saudi Oger was signed on 29 January in Beirut. The facility was lead arranged by Credit Agricole Indosuez. The $130 million first tranche, which has a tenor of five years and a margin of...

Mashreqbank EMTN out.(UAE)(euro medium-term note)
February 6, 2004... Mashreqbank has begun the process of marketing the first drawdown of its $750 million euro medium-term note (EMTN) programme. The issue is being lead arranged by Bane of America Securities--the investment banking subsidiary of Bank of...

Emaar posts robust profit.(UAE)(Emaar Properties)
February 6, 2004... Dubai-based real estate development company Emaar Properties announced in late January that its net profits for 2003 rose by 31 per cent to AED 676 million ($184 million) compared with the corresponding period in 2002. Total revenues increased...

KREB seeks central bank approval to go Islamic.(Kuwait)(Kuwait Real Estate Bank)
February 6, 2004... Kuwait Real Estate Bank (KREB) has officially applied for approval from the Central Bank of Kuwait to convert into a wholly Islamic bank. KREB is seeking one of three Islamic banking licences initially on offer following the passage in June of...

Huge interest in Amlak IPO.(UAE)
February 6, 2004... Subscription closed more than 33 times oversubscribed for the initial public offering (IPO) in Amlak Finance, the property finance subsidiary of Dubai-based real estate developer Emaar Properties. Amlak was offering 55 per cent of its share...

FIIB ventures into UK wind power.(Regional)(First Islamic Investment Bank)
February 6, 2004... Bahrain-based First Islamic Investment Bank (FIIB) has acquired a 33 per cero interest in a portfolio of wind farms in the UK through its private equity arm Crescent Capital. FIIB will take a one-third equity stake in the 100 million [pounds...

CBL issues RFP for core banking system.(Libya)(Central Bank of Libya)(request for proposal)
February 6, 2004... The Central Bank of Libya (CBL) has invited companies to apply for a request for proposal (RFP) by 14 February for the replacement of its existing banking system. The new core banking system solution aims to provide a proven retail banking...

Makkawi takes over at Dubai Bank.(People)(Ziad Makkawi)
February 6, 2004... Ziad Makkawi has been appointed chief executive officer of Dubai Bank, replacing the ex-Citibanker Ahmed bin Brek who served as the bank's founding chief executive, Makkawi comes from Dubai-based Shuaa Capital, where he was executive managing...