MEED Middle East Economic Digest articles from January 2008

MEED Middle East Economic Digest archives from January 2008

Dubai issues power plant tender.(Project news on MEED.com)(Brief article)
January 4, 2008... Dubai Electricity and Water Authority has issued a tender for the construction of the second phase of the Hassyan P power and desalination station. It will have a capacity of 1,500MW and 100-120 million gallons a day of water. The project has...

Hill awarded projects in UAE.(Project news on MEED.com)
January 4, 2008... US-based Hill International has won three contracts in the UAE, including one to manage the AED2.4bn ($650m) Nation Towers development in Abu Dhabi.

Doosan wins power contracts in Libya.(Project news on MEED.com)
January 4, 2008... South Korea's Doosan Heavy Industries and Construction has signed a contract with General Electricity Company of Libya to supply four 350MW boilers to a power plant in Al-Khalij.

Trio launch Gulf real estate venture.(Project news on MEED.com)
January 4, 2008... A QRlbn ($274m) real estate company is being launched in a deal between Industries Qatar, Qatar Real Estate Company and Kuwait's Al-Koot Insurance & Reinsurance Company.

Consultants line up for Duqm masterplan.(Project news on MEED.com)
January 4, 2008... Firms have been invited to bid by 18 February to prepare a masterplan for a free zone and industrial area at Duqm in Oman.

Eight bid for Sohar infrastructure works.(Project news on MEED.com)(Brief article)
January 4, 2008... Eight groups are bidding to install infrastructure to expand Sohar industrial estate for Oman's Public Establishment for Industrial Estates. The local Hasan bin Juma bin Backer Trading & Contracting is low bidder.

Saudi public offerings to raise more than $1bn.(Project news on MEED.com)
January 4, 2008... Local companies including Arabian Cement Company and PetroRabigh will raise more than SR5bn ($1.3bn) through initial public offerings in the first half of January.

Consultants appointed for Abu Dhabi island.(Project news on MEED.com)
January 4, 2008... Local developer Sorouh Real Estate has appointed Mouchel Parkman as infrastructure consultant for its 736,000-square metre Al-Mashtal development.

NBK raises acquisition funds.(Project news on MEED.com)(National Bank of Kuwait)(Brief article)
January 4, 2008... National Bank of Kuwait has completed a $1.5bn rights issue to help fund its acquisition of Al-Watany Bank of Egypt. The Kuwaiti bank plans to triple the number of Al-Watany branches.

Conferences.(Calendar)
January 4, 2008... Arabian Hotel Investment Conference 2008 Ever Increasing Circles--The Ripple Effect of Hotel Investment in the Middle East 3 - 5 May 2008 Madinat Jumeriah, Dubai, UAE www.arabianconference.com If you are at the forefront...

Kuwait Petroleum Corporation.(Correction)(Brief article)
January 4, 2008... It has been brought to our attention that a number of factual inaccuracies appeared in the appraisal of Kuwait Petroleum Corporation (KPC) contained in MEED's league table of national oil company performance (MEED 18:5:07). The rankings were...

Reasons for optimism.(ECONOMY)
January 4, 2008... Western concerns over the credit crunch and soaring oil prices have handed windfalls to the Middle East If everything falls into place, 2008 could be as significant a year for the Middle East as 1979 [ILLUSTRATION OMITTED] The...

Market makes common sense: the willingness of states to move from political agreement on a common market to putting the rules into effect will be put to the test.(ECONOMY)(Brief article)
January 4, 2008... A single currency in the Gulf is widely seen as the lynchpin to GCC economic integration. But it is a red herring. Attention has focused on its 2010 deadline, with observers questioning whether monetary union could be achieved in this...

Region needs gas to drive projects: the need for more water, power and gas supplies means real estate is no longer the key project driver.(CONSTRUCTION)(Brief article)
January 4, 2008... In 2006 and 2007, real estate was the major driver of the Gulf project market, but in 2008 priorities will change. The need for more water and power supplies--and, above all, gas supplies--to fuel the power plants means real estate is no longer...

Contractors face labour challenge: industry now faces an issue that is set to dwarf previous problems: a chronic skills shortage.(CONSTRUCTION)(Brief article)
January 4, 2008... [ILLUSTRATION OMITTED] Despite the biggest construction boom ever seen in the Middle East, the region's builders seem to have been in a perpetual state of crisis throughout the past five years of the economic boom. Initially, it was...

Generous budget will fuel inflation: with the government spending heavily, the fear is that inflation will creep towards double digits.(OMAN)(Brief article)
January 4, 2008... With Muscat preparing to use a 20 per cent increase in revenues to invest in much-needed infrastructure, it is unsurprising that the sultanate's contractors have welcomed the latest budget. For the government, the increase in spending is...

South Korean firms bid low for Al-Zour: all four main process packages on $14bn refinery could go to Asian contractors following retender.(ENERGY: KUWAIT)
January 4, 2008... South Korean contractors are in prime position for all four of the main process packages on the $14bn refinery project at Al-Zour, after technical and commercial offers were submitted on 26 December. State refinery operator Kuwait National...

Work starts on $11bn Arabian Canal: local Bund Construction and South Korea's Samsung begin excavation following contract awards.(CONSTRUCTION: UAE)
January 4, 2008... Contractors have started work on two preliminary contracts for the $11bn Arabian Canal project, after they were awarded in late 2007. The 80-kilometre canal is the largest civil engineering project undertaken in Dubai. "In December, two...

Borse Dubai closes in on global network with Nasdaq.(COMPANIES & MARKETS: UAE)(National Association of Securities Dealers Automated Quotations)(Brief article)
January 4, 2008... Borse Dubai expects to complete a series of deals with Nasdaq by the end of the first quarter to establish a network of stock exchanges stretching from the US to Dubai and Europe. Under the terms of its deal with Nasdaq, Borse Dubai will...

State invites interest in Al-Shaheen.(ENERGY: QATAR)(Qatar Petroleum Corp.)
January 4, 2008... Qatar Petroleum (QP) is inviting expressions of interest from international contractors for the main package on its estimated $5bn Al-Shaheen grassroots refinery. The move comes despite the wave of uncertainty in the regional refining...

Suez Canal revenues reach record high as oil price soars: rising oil price, increasing traffic and higher charges boost profits by 21 per cent.(TRANSPORT: EGYPT)
January 4, 2008... Revenues from the Suez Canal reached $4.6bn in 2007--the highest in the waterway's history. The figure is a 21 per cent increase on the $3.8bn gathered in 2006, which was also a record. The Suez Canal Authority (SCA), which manages the...

Project market delivers record growth: GCC states account for 90 per cent of the $1.8trillion worth of projects planned or under way in the Gulf.(CONSTRUCTION: GULF)
January 4, 2008... The Gulf project market grew by more than one third in 2007, the biggest year-on-year expansion of the sector since the start of the oil boom in 2003. According to projects tracker MEED Projects, the total value of schemes planned or under...

Fresh US trade talks to pave way for broader agreement: meeting to tackle short-term issues and lay foundations for free trade.(ECONOMY: UAE)
January 4, 2008... The UAE is to hold trade talks with the US in January, despite the postponement of long-running negotiations over a wider free-trade agreement. A UAE delegation will meet the Office of the US Trade Representative, the US government agency...

Three firms bid to build parallel roads.(CONSTRUCTION: UAE)(Brief article)
January 4, 2008... Dubai's Roads & Transport Authority has received three bids to build one of the most controversial sections of its parallel roads scheme. It involves the construction of two roads running parallel to the coast, between Sheikh Zayed and...

Tehran rethinks high-speed rail plans: upgrade to existing rail links scaled back because of difficulties in attracting foreign investment.(TRANSPORT: IRAN)
January 4, 2008... Tehran is scaling back plans for two high-speed rail links in the country because of difficulties in financing major infrastructure projects. Officials admit the proposed high-speed links between Tehran and Esfahan via Qom, and between the...

Sultanate to invest in infrastructure.(ECONOMY: OMAN)(Brief article)
January 4, 2008... The government is preparing to invest heavily in infrastructure projects across the sultanate under its 2008 budget. Infrastructure is crucial for Oman as it tries to develop sectors such as tourism and industry. One of the largest...

Muscat plans 20 per cent increase in public spending: high oil revenues fuel budget spending spree aimed at revitalising economy.(ECONOMY: OMAN)
January 4, 2008... Muscat will boost spending by almost a fifth this year, backed by an expected continuation of high oil prices. The government estimates that gross domestic product (GDP) grew by 11.6 per cent in 2007, helped by the price of oil. However,...

Abraaj Capital to launch fund investing in listed companies: investment vehicle to operate under a hedge fund strategy to maximise profits.(COMPANIES & MARKETS: UAE)
January 4, 2008... Dubai-based private equity firm Abraaj Capital is preparing to launch its third fund to invest primarily in publicly listed companies in the Middle East and South Asia. The fund will follow the same investment strategy as Abraaj's two...

Dubai caps residential rental hikes.(REAL ESTATE: UAE)(Brief article)
January 4, 2008... Dubai has tightened control over rental prices, placing a 5 per cent limit on rent increases for 2008. Rents that were increased last year will be frozen at current levels. It is the third consecutive year that the emirate has used rent...

Common market to offer arbitration: GCC secretariat fast-tracks judicial court to rule on trade disagreements between member states.(ECONOMY: GCC)
January 4, 2008... The GCC secretariat launched its common market policy on 1 January, and quickly followed it with plans for a judicial tribunal to arbitrate on disputes between members. The tribunal comes as the GCC is encouraging cross-border trade within...

A turning point for the region: this year could have as big an impact on the Middle East as 1979.(THE MIDDLE EAST IN 2008)
January 4, 2008... The year to come could have an impact as significant as the events of 1979, which started with the Iranian revolution and ended in an intensification of the Cold War as Soviet troops flooded into Afghanistan. In between, the oil price nearly...

A year of opportunity: MEED assesses the region's potential flashpoints in 2008.(THE MIDDLE EAST IN 2008)
January 4, 2008... LEBANON/SYRIA Lebanon's fractious political chieftains may be close to electing the next president--former army chief Michel Suleiman is the clear front runner when parliament votes on 12 January. However, they could be frustrated in early...

Sector outlook 2008.(Special Report)
January 4, 2008... [ILLUSTRATION OMITTED] The urgent need to install the infrastructure required to support the region's economic development means government-backed power, water, transport and energy projects will become the principal drivers of the...

MEED business calendar 2008.(Special Report)(Calendar)
January 4, 2008... MEED BUSINESS CALENDAR 2008 January 1 Libya takes seat on UN Security Council for two-year period 1 African Union forces in Darfur to merge with UN force, Unamid 7-9 Third round of...

Energy: the drive to push through previously uneconomic projects will continue while oil prices remain high.(Special Report: Sector outlook 2008)
January 4, 2008... With oil prices averaging about $72 a barrel in 2007, national oil companies (NOCs) in the region are flush with cash. From oil powerhouses, such as Saudi Aramco, through to emerging gas-focused exploration giants, such as Algeria's Sonatrach...

Petrochemicals: with costs expected to rise further, the slowdown in project activity looks set to continue.(Special Report: Sector outlook 2008)
January 4, 2008... Rising engineering, procurement and construction (EPC) costs, combined with a lack of cheap gas feedstock, has led to the number of new projects announced tailing off sharply since the regional industry's 2006 peak. In Saudi Arabia, the...

Power & water: a shortage of resources will force clients to reassess project timetables and investment plans.(Special Report: Sector outlook 2008)(Ras al-Zour independent water and power project)
January 4, 2008... In December, Saudi Arabia's Water & Electricity Company (WEC) announced it was delaying the deadline for bids for the Ras al-Zour independent water and power project (IWPP) by 12 weeks, from 10 February to 4 May. According to WEC, the decision...

Construction: as the market overheats, developers face challenges in securing labour and keeping down costs.(Special Report: Sector outlook 2008)
January 4, 2008... Construction costs in the Gulf have risen by about 30 per cent over the past 12 months and new companies are entering regional markets, making the sector more competitive. But with a project mountain that keeps on growing, controlling costs and...

Industry: huge developments have defined the sector's impressive growth, with more to come this year.(Special Report: Sector outlook 2008)
January 4, 2008... High-profile, large-scale industrial projects, particularly in the aluminium and fertilisar sectors, are key to the energy-rich Gulf states' economic diversification strategies. All the states are continuing with ambitious major industrial...

Defence: a series of major defence deals are set to be finalised as states reinforce their security measures.(Special Report: Sector outlook 2008)
January 4, 2008... Middle East security in 2008 will be dominated by familiar issues. The conflict in Iraq, Iran, the Israeli-Palestinian peace process and political instability in Lebanon will top the agendas of leaders in the region and worldwide. Defence...

Banking & finance: central banks in the region are expected to follow the US in cutting interest rates.(Special Report: Sector outlook 2008)
January 4, 2008... The first quarter of 2008 will be instrumental shaping the outlook for the entire year. With further interest rate cuts expected in the US, Middle East central banks will be forced to follow suit to avoid currency speculation. This,...

Capital markets: regional stock markets expect the recovery cycle to kick in after almost two years of correction.(Special Report: Sector outlook 2008)
January 4, 2008... As Saudi Arabia's Tadawul begins to recovery, plans to reformulate the market and introduce new products such as exchange-traded funds, and the increasing sophistication of market players, will help to modernise the region's largest stock...

Transport: whether travelling by train, plane or car, transport in the Gulf will be taking a huge step forward this year.(Special Report: Sector outlook 2008)
January 4, 2008... Many of the GCC's most prestigious transport projects are approaching the end of their tender process and work is set to begin in earnest. In terms of rail links, Saudi Arabia is set to make the most progress. Work will begin on the $5bn Saudi...

Telecoms: operators will have to expand into Africa and Asia, or lease their networks, to maintain growth.(Special Report: Sector outlook 2008)
January 4, 2008... Telecoms operators in the Middle East have been spoiled for choice over the past 12 months, with auctions for licences in Iraq, Kuwait, Qatar and Saudi Arabia. However, in 2008, the best opportunities for companies in the region to expand will...

The Gulf's growing labour crisis: spiralling costs remain the key issue for contractors in 2008, but unlike in previous years, the rising price and dwindling supply of manpower, not materials, is the primary concern.(CONSTRUCTION)
January 4, 2008... In a rapidly expanding market, controlling costs will always be a major headache for contractors. But unlike previous years, when steel and cement prices dominated headlines, raw material costs will be a secondary concern in 2008. ...

Selected major projects in 2008.(Special Report: Sector outlook 2008)(Statistical table)
January 4, 2008... SELECTED MAJOR PROJECTS IN 2008 Value Client Project ($bn) OIL & GAS KNPC Al-Zour refinery 14.6...

People to watch 2008: twelve key figures in the Middle East economy in the coming year.(The MEED List)
January 4, 2008... Sheikh Ahmad bin Zayed al-Nahyan POSITION Sovereign wealth fund manager, Abu Dhabi Investment Authority (Adia) BIOGRAPHY Al-Nahyan is managing director of Abu Dhabi sovereign wealth fund manager Adia. As the force behind a series of...

South Korean firm scoops diesel deal.(Project news on MEED.com)(Brief article)
January 11, 2008... [ILLUSTRATION OMITTED] South Korea's GS Engineering & Construction has been awarded the $1.14bn contract to build a green diesel plant at Ruwais for Abu Dhabi Oil Refining Company (Takreer). The contract covers the construction of a...

Tenders issued for Dubai Marina.(Project news on MEED.com)
January 11, 2008... Saudi-based Cayan Investment & Development has invited companies to bid for its AED800m ($218m) Silverene towers project at Dubai Marina.

Leighton in talks for Abu Dhabi tunnel.(Project news on MEED.com)
January 11, 2008... The local Tourism & Development Investment Company is in talks with the local/Australian Gulf Leighton to build a road tunnel connecting Abu Dhabi and Hudayriat islands.

Addur plant issues prequalification list.(Project news on MEED.com)
January 11, 2008... Bahrain's Finance Ministry has prequalified 13 bids for the Addur independent power and water project. It will have a capacity of 500-600MW.

Emaar awards key deals for Saudi.(Project news on MEED.com)
January 11, 2008... Emaar Middle East has awarded two infrastructure contracts for its Jeddah Gate project.

Reem island tower put on hold.(Project news on MEED.com)
January 11, 2008... Mayadeen Gulf Estate Company has shelved plans for its $545m First Abu Dhabi tower project on Reem island because of rising costs.

Tenders issued for Oman airport.(Project news on MEED.com)
January 11, 2008... Companies have been invited to bid by 11 February for the development of Ras al-Had airport in Al-Shargiyah.

Conferences.(Calendar)
January 11, 2008... The Ras al-Khaimah Conference 2008 Exploring the emirate's key investment opportunities 27-28 January 2008 Al-Hamra Fort Hotel, Ras al-Khaimah, UAE www.meed.com.rak Organised under the high patronage of Sheikh Saud bin Saqr...

Gulf projects ($m).(MEED PROJECTS)(Brief article)
January 11, 2008... GULF PROJECTS ($m) 7 January 17 Decem- % change 7 January % change 2008 ber 2007 on month 2007 on year Bahrain 27,901 28,345 -1.6 32,045 -12.9...

Gulf banks outshine the bungling global behemoths.(THE LAST WORD)(Brief article)
January 11, 2008... [ILLUSTRATION OMITTED] The sub-prime crisis has slaughtered the last GCC bank canard: that financial institutions in the region are too small. Now that the global behemoths have bungled away billions of their customers' cash, small banks...

UAE needs to reform further.(ECONOMY)(Brief article)
January 11, 2008... [ILLUSTRATION OMITTED] As the first female Economy Minister in the region, Sheikha Lubna al-Qasimi is unique. Her private sector background also marks her out. Since November 2004, she has overseen the UAE economy, one of the fastest...

Co-operation is way forward: in an era of increasing resource nationalism, co-operation between the two state companies could become a template for the future.(PETROCHEHICALS)(Brief article)
January 11, 2008... The fact that Saudi Arabia's two largest companies, Saudi Aramco and Saudi Basic Industries Corporation (Sabic), are in talks to collaborate on a multi-billion-dollar project at Yanbu is fresh evidence, if any were needed, that this is an era...

Transparency will lead to respect: in return for greater transparency, Saudi Aramco will be rewarded with renewed confidence.(ENERGY)(Brief article)
January 11, 2008... There is much to applaud at oil giant Saudi Aramco. Oil expertise was nonexistent in the kingdom 75 years ago, but today the company is probably the most advanced national oil company in the world. Since Riyadh signed concessions with US...

Bush visit is too little, too late: with elections under way to pick his successor, Bush has little else to concentrate on but his legacy.(GOVERNANCE)(Brief article)
January 11, 2008... [ILLUSTRATION OMITTED] With a year to go in office, US President George Bush has finally made it to the Middle East. For a region so central to the reputation of his administration, it is surprising that this is only his second visit to...

Tehran must lose its pariah status: Tehran's latest incentive of land to attract investors to its metro plan is as ingenious as it is desperate.(TRANSPORT)(Brief article)
January 11, 2008... The latest efforts to boost private sector involvement in the Tehran Metro project display ingenuity, but also desperation at the persistent failure to attract foreign capital to the project. Even if the scheme to offer discounted land to...

Sabic plans partnership with Aramco: Riyadh keen for state firms to jointly develop projects without assistance from international companies.(PETROCHEMICALS: SAUDI ARABIA)
January 11, 2008... Saudi Basic Industries Corporation (Sabic) could link up with Saudi Aramco on the multi-billion-dollar project to upgrade the refinery at Yanbu on the Red Sea coast and build an adjacent petrochemicals complex. Sabic is believed to be...

Abu Dhabi to provide power to northern neighbours.(POWER: UAE)(Brief article)
January 11, 2008... A long-awaited agreement has been signed that will hand responsibility for power generation in the northern emirates to Abu Dhabi. Under the deal, the five northern emirates will depend on the Abu Dhabi Water & Electricity Authority...

Conoco takes lead in Shah gas bidding: US company is surprise frontrunner for sour gas project, with Shell and Occidental set to lose out.(ENERGY: UAE)
January 11, 2008... The US' ConocoPhillips is the surprise frontrunner for the multibillion-dollar project to develop sour gas reserves from Abu Dhabi's Shah field. According to sources in Abu Dhabi, the Houston-based oil major is most likely to win the...

Pipeline upgrade forces gas export cut: Sonatrach to spend $1bn over five years on inspecting and upgrading 6,000 kilometres of pipelines.(ENERGY: ALGERIA)
January 11, 2008... Algiers is being forced to cut gas exports in 2008, as state energy company Sonatrach spends more than $1bn upgrading its 16,200--kilometre oil and gas network. The work will reduce gas production by at least 2 billion cubic metres (bcm)...

China Harbour wins contract to build Ras al-Zour port.(TRANSPORT: SAUDI ARABIA)(Brief article)
January 11, 2008... A contract to build the industrial port at Ras al-Zour has finally been awarded to China Harbour Contracting Company, after a series of commercial and technical delays. It is the second big contract win in the kingdom for the company in...

Tehran offers land to metro developers: government to give prime city sites to financiers as incentive to invest in beleaguered transport plan.(TRANSPORT: IRAN)
January 11, 2008... Tehran is renewing efforts to attract private finance for the $18.5bn expansion of its planned metro, by offering additional land to developers. It is to pilot a scheme that will involve local developers building metro stations in exchange...

Collapse of Tel Aviv gas talks revives Idku terminal project.(ENERGY: EGYPT)(Brief article)
January 11, 2008... The breakdown in negotiations between the UK's BG and Tel Aviv on the sale of gas to Israel from Gaza could breathe fresh life into proposals for a liquefied natural gas (LNG) terminal at Idku in Egypt. BG is set to close its Israel office...

Dewa extends deadlines as suppliers struggle with demand.(POWER: UAE)
January 11, 2008... Dubai Electricity & Water Authority (Dewa) has been forced to offer contractors more time to construct power plants, in the latest sign that supply issues are continuing to affect the market. The first project to be affected is Station P,...

Tripoli plans $5bn upgrade of refineries: Ras Lanuf modernisation to cost up to $3bn, with a further $2bn for Azzawiya under negotiation.(ENERGY: LIBYA)
January 11, 2008... The UAE's Al-Ghurair Investment is to modernise Libya's largest oil refinery, Ras Lanuf, in a deal worth up to $3bn, via two subsidiaries. The cost, 50 per cent higher than previous estimates, will be finalised in the summer. ...

State invites foreign firms to apply for clean fuels project.(ENERGY: KUWAIT)(Brief article)
January 11, 2008... State refinery operator Kuwait National Petroleum Company (KNPC) has invited international contractors to submit prequalification applications by the end of January for the three main contracts on the multi-billion-dollar programme to upgrade...

Amman to launch oil shale round.(ENERGY: JORDAN)(Brief article)
January 11, 2008... Jordan will launch its next oil shale licensing round within a month, according to the Natural Resources Authority. Companies will be invited to submit proposals for the exploration and use of oil shale reserves in the Attarat Umm Ghudran,...

Suez Energy enters exclusive talks to develop Ras Laffan: Belgium firm is preferred bidder for independent water and power project.(POWER: QATAR)
January 11, 2008... Belgium's Suez Energy International is in exclusive talks to develop Qatar's largest power plant, after emerging as the preferred bidder. The General Electricity & Water Corporation (Kahramaa) is expected to make an award on Ras Laffan C...

Majid al-Futtaim plans retail expansion: Dubai-based developer to increase retail portfolio fivefold over five years to 2.5 million square metres.(COMPANIES & MARKETS: UAE)
January 11, 2008... The Gulf's largest shopping mall developer, Dubai-based Majid al-Futtaim (MAF) Group, plans to increase its retail space portfolio fivefold over five years, to 2.5 million square metres. "We plan to add 2 million sq m of retail space over...

Oil revenues drive Tehran budget boost.(ECONOMY: IRAN)(Brief article)
January 11, 2008... Tehran will increase government spending by 17 per cent in 2008, on the back of high oil revenues. Presenting the 2008/09 budget to the Majlis (parliament), President Mahmoud Ahmadinejad revealed an IR2,745 trillion ($295bn) budget for the...

Foreign banks to capitalise on industrial development: Muscat's investment plans attract foreign institutions to crowded finance sector.(BANKING & FINANCE: OMAN)(Brief article)
January 11, 2008... Competition in Oman's crowded banking sector is set to increase as foreign banks seek to capitalise on large-scale industrial projects backed by the government and funded by record oil revenues. They are being attracted by the rapid...

Abu Dhabi overhauls sewage system: joint ventures to build four treatment plants to handle increasing volumes of waste from development.(WATER: UAE)
January 11, 2008... Two joint ventures are to build four sewage treatment plants in Abu Dhabi and AL-Ain in a bid by the emirate to overhaul its waste services. The contract awards come in the wake of problems in the neighbouring emirate of Dubai. The city...

Dubai invites firms to bid for controversial creek extension.(CONSTRUCTION: UAE)(Brief article)
January 11, 2008... Dubai's Roads & Transport Authority has invited companies to bid for two construction packages for the extension of Dubai Creek, from Business Bay across Sheikh Zayed road and through to the Gulf. The project is one of the most...

Qasco awards key steel ideal to Danieli.(INDUSTRY: QATAR)(Brief article)
January 11, 2008... Qatar Steel Company (Qasco) has selected Italy's Danieli for a key contract on its steel production plant at the Mesaieed complex. Germany's Siemens was the only other bidder for the technology licensing, equipment supply and installation...

Airline privatisation faces second parliamentary defeat: national carrier seeks third chairman in four months as Al-Sabeeh exits.(TRANSPORT: KUWAIT)(Kuwait Airways Corp.)(Brief article)
January 11, 2008... Legislation approving the privatisation of Kuwait Airways faces another defeat in parliament as the airline enters a fresh managerial crisis. Communications Minister Abdullah al-Muhailbi, whose remit includes transport, promised to present...

Korean dominance grows: South Korean contractors are cementing their hold over Middle East construction.(CONTRACTORS)
January 11, 2008... Any lingering doubts over the growing importance of South Korean contractors to the Middle East will have been quickly dispelled by the unofficial results of the bidding for Kuwait's $14bn Al-Zour refinery project in early January. South...

Sheikha Lubna al-Qasimi: UAE Economy Minister: tackling inflation, fleeing up trade and reducing unemployment are priorities for the UAE's economy minister.(Interview)(Interview)
January 11, 2008... Leading the way through the reception room to her office, UAE Economy Minister Sheikha Lubna al-Qasimi points to framed photographs clustered on cabinets. She gives names and dates for the array of heads of state and leading politicians...

Acwa Power Projects: the meteoric rise of Acwa has staggered observers and made it one of Saudi Arabia's leading developers.(POWER)(Company overview)
January 11, 2008... COMPANY SNAPSHOT Date established: 2002 Main business sectors: Power and water Main business regions: Saudi Arabia President & CEO: Paddy Padmanathan In just a few years, Acwa Power Projects has been transformed from a...