MEED Middle East Economic Digest articles from May 2003

MEED Middle East Economic Digest archives from May 2003

Seven days.(Saudi Arabian cabinet)(Brief Article)
May 2, 2003... Government of Saudi Arabia (announced 30 April 2003) For detailed analysis of the composition and structure of Saudi Arabia's new cabinet see the Cover Story of next week's MEED. HEAD OF STATE, PRIME MINISTER. CUSTODIAN OF THE TWO HOLY...

Different directions on roadmap. (Regional).
May 2, 2003... Publication of the long-awaited 'roadmap' for peace in the Middle East has been greeted by renewed bloodshed and diplomatic wrangling between Israelis and Palestinians. Within hours of the US-initiated plan being presented to the new...

Tripoli has taken a further step towards normalising its international relations with a partial admittance of responsibility for the 1988 bombing of PanAm Flight 103 over Lockerbie. (News in Brief: Libya).(Brief Article)
May 2, 2003... Tripoli has taken a further step towards normalising its international relations with a partial admittance of responsibility for the 1988 bombing of PanAm Flight 103 over Lockerbie. "We have taken on the responsibility for this case on the...

Qataris on 29 April overwhelmingly approved the state's first written constitution, providing for greater popular political participation. (News in Brief: Qatar).(Brief Article)
May 2, 2003... Qataris on 29 April overwhelmingly approved the state's first written constitution, providing for greater popular political participation Interior Minister Hamad bin Nasser bin Jassem a I-Thani reported that 71,406 people voted out of the...

The ruling General People's Congress has secured the majority of parliamentary seats in the country's 27 April elections, the head of the election committee announced on 30 April. (News in Brief: Yemen).(Brief Article)
May 2, 2003... The ruling General People's Congress has secured the majority of parliamentary seats in the country's 27 April elections, the head of the election committee announced on 30 April. With 21 constituencies still to be counted, the ruling party has...

On the record.(Saddam Hussein )(Brief Article)
May 2, 2003... "Sons of our great people, rise against the occupier and do not trust those who talk about the Sunnis and Shias, for the only issue that the homeland, your great Iraq, is facing at present is that of occupation" A letter purportedly...

US troops to leave Saudi Arabia. (Saudi Arabia).(Brief Article)
May 2, 2003... Washington has decided to withdraw the vast majority of its troops from Saudi Arabia with the exception of some training personnel. US Defence Secretary Donald Rumsfeld announced during a visit to the kingdom on 29 April. Earlier the same day,...

Time was.
May 2, 2003... 3 May 1963 A team of British consultants arrives in Cairo on the first leg of a tour of the newly created United Arab Republic, which comprises Iraq, Syria and Egypt, to discuss a possible nuclear power programme. 6 May 1988 The...

The view from the top. (Cover Story: Saudi Arabia).(Prince Alwaleed bin Talal al-Saud talks about economic reform in Saudi Arabia)(Interview)(Cover Story)
May 2, 2003... On the eve of a potential crucial cabinet reshuffle, Prince Alwaleed bin Talal al-Saud talks to Tom Everett-Heath about the health of the economic reform programme in Saudi Arabia, the regional political situation and international investment...

Great Lakes mobilised for Umm Qasr dredging. (Iraq Reconstruction).(Brief Article)
May 2, 2003... The US' Bechtel, the contractor on the US Agency for International Development (USAID) capital construction programme, confirmed on 30 April that it was close to finalising a subcontract with the US' Great Lakes Dredge & Dock Company to carry...

USAID lets health contract. (Iraq Reconstruction).(US Agency for International Development )(Brief Article)
May 2, 2003... The US Agency for International Development (USAID) announced on 30 April the award of an initial $10 million contract to the US' Abt Associates to ensure the rapid normalisation of health services in Iraq and to strengthen its national health...

Irag oil industry rehab bids to be invited "in weeks". (Iraq Reconstruction).
May 2, 2003... Bidding on the programme to rehabilitate the Iraqi oil industry will begin within weeks, a US Army Corps of Engineers (USACE) spokesperson told MEED in late April. He was speaking following news that Fluor Corporation of the US and Amec of the...

The US Agency for International Development (USAID). (News in Brief).(Brief Article)
May 2, 2003... The US Agency for International Development (USAID) announced on 26 April the award of three grants, worth $76,000 in total, to finance community projects identified by the new town council in Umm Qasr. The grants are provided through the US...

Mohamed Abdulmohsin Kharafi & Sons. (News in Brief).(Brief Article)
May 2, 2003... Kuwait's Mohamed Abdulmohsin Kharafi & Sons has been awarded a contract to carry out damage assessment of a presidential palace about 2 kilometres north of Baghdad International Airport. The estimated $250,000 contract will include preparing a...

The first meeting of a UK public-private working group for the reconstruction of Iraq took place in London on April 24. (News in Brief).(Brief Article)
May 2, 2003... The first meeting of a UK public-private working group for the reconstruction of Iraq took place in London on April 24. Chaired by Tony Allum, chairman of the Halcrow Group, the meeting was attended by a dozen representatives of British...

Pace of political reconstruction quickens as violence grows. (Iraq Reconstruction).
May 2, 2003... The US-led coalition is accelerating political reconstruction amid growing tension between occupying forces and the civilian population. A civilian administrator is to be appointed and a national conference is planned for the end of May to...

UK government to underwrite work. (Iraq Reconstruction).(Brief Article)
May 2, 2003... The UK government is set to introduce export credit guarantees for British firms working in Iraq. Sources in Whitehall said Chancellor of the Exchequer Gordon Brown was to decide on 30 April whether to approve "several hundred million pounds"...

Financial co-ordinator defines initial tasks. (Iraq Reconstruction).(Peter McPherson)
May 2, 2003... Financial co-ordinator for Iraqi reconstruction Peter McPherson, appointed by the US Treasury at the end of April, said in Baghdad on 29 April that there are seven key objectives in the drive to establish financial stability in the country....

NCB posts full figures, looks good: bad loans now more than adequately covered. (Banking & Finance: Saudi Arabia).(National Commercial Bank )
May 2, 2003... Jeddah-based National Commercial Bank (NCB) has published fully-audited financial results for the years 1999-2002. Their release paves the way for the listing of the bank and the potential sell down of a 69.3 per cent position in the bank held...

Damascus licenses first private banks. (Banking & Finance: Syria).
May 2, 2003... The government on 29 April gave its final approval to three groups of foreign investors to set up private banks in Syria. The decision brings to an end the state monopoly that has existed since the government nationalised the banking sector in...

Kuwait Projects Investments Company (Kipco) on 28 April announced the placing of a KD 14 million ($45.7 million) bond with local investors through an oversubscribed issue. (News in Brief: Kuwait).(Brief Article)
May 2, 2003... Kuwait Projects Investments Company (Kipco) on 28 April announced the placing of a KD 14 million ($45.7 million) bond with local investors through an oversubscribed issue. The floating-rate bonds have a tenor of three years, with a coupon of...

Bahrain-based First Islamic Investment Bank (FIIB) has launched a $75 million Islamic leasing Sukuk instrument. (News in Brief: Regional).(Brief Article)
May 2, 2003... Bahrain-based First Islamic Investment Bank (FIIB) has launched a $75 million Islamic leasing Sukuk instrument. The offer is in two tranches. The first tranche has a tenor of three years and carries e return of 150 basis points (bp) over Libor....

Local/French team wins NEAD contract: The contract is the largest for an oil field development project for a decade. (Oil & Gas: UAE).(Brief Article)
May 2, 2003... A team of Paris-based Technip-Coflexip with the local National Petroleum Construction Company (NPCC) is understood to have received a letter of intent for the engineering, procurement and construction (EPC) contract on the Northeast Abu Dhabi...

Aramco gives green light to Hawiyah, but no money. (Oil & Gas: Saudi Arabia).
May 2, 2003... Saudi Aramco is understood to have approved in principle the go-ahead of the estimated $900 million straddle plant and the $800 million expansion of the Hawiyah gas plant at a board meeting on 19 April. The straddle plant is among the most...

Technip-Coflexip wins more Adco work. (Oil & Gas: UAE).(Brief Article)
May 2, 2003... Paris-based Technip-Coflexip has received a letter of intent for the engineering, procurement and construction (EPC) contract covering the development of the Asab and Shah fields in Abu Dhabi emirate (MEED 5:7:02). The estimated $59...

Adma-Opco to drill new wells at Zakum. (Oil & Gas: UAE).(Brief Article)
May 2, 2003... Four international companies submitted technical and commercial bids on 26 April for a contract to carry out the front-end engineering and design (FEED) studies on a project to develop the Zakum field in offshore Abu Dhabi. The bidders are...

Bids due for Bu Hasa upgrade. (Oil & Gas: UAE).(Brief Article)
May 2, 2003... Abu Dhabi Gas Industries Company (Gasco) has invited companies to submit technical bids by 31 May for a contract to upgrade and modify its gas-gathering facilities at the onshore Bu Hasa oil field (MEED 1:11:02; 30:8:02). Known as the Bu...

Kvaerner bids low for Ahmadi project. (Oil & Gas: Kuwait).
May 2, 2003... Kvaerner E&C part of the Oslo-based Aker Kvaerner Group, has submitted a low bid of KD 234.7 million ($779 million) for the engineering. procurement and construction (EPC) contract on the proposed Ahmadi oil storage and export facilities...

ILF & Partners Oman, a subsidiary of Germany's ILF & Partners. (News in Brief: Oman).(Brief Article)
May 2, 2003... ILF & Partners Oman, a subsidiary of Germany's ILF & Partners, was awarded in late April the contract to draw up front-end engineering and design (FEED) studies for the proposed 260-kilometre-long. 24-inch-diameter mixed feedstock pipeline...

Spectrum. (News in Brief: Oman).(signs seismic services contract in Oman)(Brief Article)
May 2, 2003... The UK's Spectrum signed on 28 April a six-year contract to provide seismic services in Oman. Under the terms of the contract, Spectrum will reprocess existing data and acquire fresh seismic, gravity and magnetic data from exploration blocks in...

IGAT-5 moves forward. (Oil & Gas: Iran).(Iranian gas trunkline)
May 2, 2003... Construction work is soon to get under way on the fifth Iranian gas trunkline (IGAT-5) project, with the award of one contract and progress on two others. Financing on the scheme is also nearing completion. IGAT-5 covers the construction of a...

Petronas buys Edison's assets. (Oil & Gas: Egypt).(Brief Article)
May 2, 2003... Edison International of Italy has agreed to sell the majority of its Egyptian gas assets to Petronas of Malaysia for Eur 1,600 million ($1,750 million), the company announced shortly before a shareholders' meeting on 29 April. Seven companies...

Sweden's Lundin Petroleum on 28 April announced the sale of its 40.4 per cent holding in Block 5A in the Muglad basin to Malaysia's Petronas. (News in Brief: Sudan).(Brief Article)
May 2, 2003... Sweden's Lundin Petroleum on 23 April announced the sale of its 40.4 per cent holding in Block 5A in the Muglad basin to Malaysia's Petronas. Petronas will pay $142.5 million in cash for the stake, taking its overall interest in the block to...

BP Egypt has been awarded exploration rights to four new offshore blocks in the Gulf of Suez and the Red Sea. (News in Brief: Egypt).(Brief Article)
May 2, 2003... BP Egypt has been awarded exploration rights to four new offshore blocks in the Gulf of Suez and the Red Sea. The Gulf concessions are East el-Morgan block 2, North Ghara block 4 and East Warda block 35. The fourth concession covers blocks 12...

The US' McDermott International confirmed in late April the award of the upstream package on the first phase of the Al-Khaleej gas (AKG-1) project. (News in Brief: Qatar).(Brief Article)
May 2, 2003... The US' McDermott International confirmed in late April the award of the upstream package on the first phase of the Al-Khaleej gas (AKG-1) project. Placed as an option under the company's existing RasGas II contract, the AKG order involves the...

Saudi Aramco has issued the engineering, procurement and construction (EPC). (News in Brief: Saudi Arabia).(Brief Article)
May 2, 2003... Saudi Aramco has issued the engineering, procurement and construction (EPC) tender for the seawater treatment plant on the Ain Dar and Shedgum water injection programme in the Eastern Province. Companies have been given until 15 July to submit...

Prices fall as OPEC cut fails to convince. (Oil & Gas).
May 2, 2003... Oil prices fell to five-month lows on 29 April as the market reacted to OPEC's announcement of a quota increase at the group's 24 April emergency meeting. Brent was trading at $23.21, reflecting the market's confusion and scepticism about...

International contractors have responded to an expression of interest issued by Qatar Petroleum (QP) on 1 April for the Mesaieed linear alkyl benzene (LAB) project. (Petrochemicals: Qatar).(Brief Article)
May 2, 2003... International contractors have responded to an expression of interest issued by Qatar Petroleum (OP) on 1 April for the Mesaieed linear alkyl benzene (LAB) project. The next step in the project will involve a formal prequalification exercise...

Kvaerner E&C, part of the Oslo-based Aker Kvaerner group, confirmed on 30 April its selection by Saudi International Petrochemical Company (SIPC). (Petrochemicals: Saudi Arabia).(Brief Article)
May 2, 2003... Kvaerner E&C, part of the Oslo-based Aker Kvaerner group, confirmed on 30 April its selection by Saudi International Petrochemical Company (SIPC) as the engineering, procurement and construction (EPC) contractor for the butanediol (BDO) plant...

Saudi Fertiliser Company (Safco) on 27 April confirmed the award of the engineering, procurement and construction (EPC). (Petrochemicals: Saudi Arabia).(Brief Article)
May 2, 2003... Saudi Fertiliser Company (Safco) on 27 April confirmed the award of the engineering, procurement and construction (EPC) contract to expand its Jubail complex to Germany's Uhde. The announcement followed the signing of a letter of intent with...

A contract award is expected by mid-May on the Gulf Farabi Petrochemicals Company (GFPC). (Petrochemicals: Saudi Arabia).(Brief Article)
May 2, 2003... A contract award is expected by mid-May on the Gulf Farabi Petrochemicals Company (GFPC) project to build a normal paraffin (n-paraffin) and linear alkyl benzene (LAB) complex at Jubail. Four companies submitted revised prices for the estimated...

Commercial bids have been submitted to Saudi Basic Industries Corporation (Sabic) subsidiary Arabian Petrochemical Company (Petrokemya). (Petrochemicals: Saudi Arabia).(Brief Article)
May 2, 2003... Commercial bids have been submitted to Saudi Basic Industries Corporation (Sabic) subsidiary Arabian Petrochemical Company (Petrokemya) for the project to build a butene-1 unit at its existing Jubail complex. Companies competing for the...

Grand museum plans lake shape: Cairo embarks on world's largest archaeological showcase. (Construction: Egypt).(Brief Article)
May 2, 2003... An international jury was convened in Cairo on 29 April to evaluate the 20 short-listed designs for the world's largest museum, a $350 million complex which will be built in the shadow of the Great Pyramids at Giza. A technical committee set up...

Washington Group. (News in Brief: Egypt).(Brief Article)
May 2, 2003... The US' Washington Group has been awarded a $7.7 million contract for the operations and maintenance of hospital equipment at the International Medical Centre in Cairo. The contract is for two years, with three optional one-year extensions to...

Eight international and local companies submitted revised prices by 26 April for the estimated $35 million contract to build the gateway building on the Dubai International Financial Centre (DIFC). (News in Brief: UAE).(Brief Article)
May 2, 2003... Eight international and local companies submitted revised prices by 26 April for the estimated $35 million contract to build the gateway building on the Dubai International Financial Centre (DIFC). The bidders are the UK's John Laing, the...

Frederic R Harris. (News in Brief: UAE).(bids invited for container terminal in Abu Dhabi)(Brief Article)
May 2, 2003... The Abu Dhabi Works Department has invited companies to submit bids by 4 August for a contract to build a new container terminal at Mina Zayed. Estimated to cost at least $100 million, the project will involve the construction of a new...

Khatib & Alami. (News in Brief: UAE).(bids invited for mixed-use development at Dubai Marina)(Brief Article)
May 2, 2003... Bids are due to be returned by 6 May for a contract to build a major mixed-use development at Dubai Marina. Up to eight companies are prequalified to price the estimated AED 250 million ($68 million) contract. To be called AI-Rostamani Tower....

Diwan Architects & Consultants. (News in Brief: UAE).(bids invited for mixed-use development in Abu Dhabi)(Brief Article)
May 2, 2003... The bid deadline has been extended by two weeks to 13 May for the superstructure package on the Khalidiya residential and commercial development in Abu Dhabi. Nine local and international companies are prequalified to price the two-year...

The bid closing date has been further extended to 17 June for the AX 058 package on the Dubai International Airport expansion project. (News in Brief: UAE).(Brief Article)
May 2, 2003... The bid closing date has been farther extended to 17 June for the AX 058 package on the Dubai International Airport expansion project. Eight local and international groups are prequalified to bid for the estimated $350 million-400 million...

HOK Canada is due to complete designs by late summer for the proposed Abu Dhabi Intercontinental hotel expansion project. (News in Brief: UAE).(Brief Article)
May 2, 2003... HOK Canada is due to complete designs by late summer for the proposed Abu Dhabi Intercontinental hotel expansion project. Estimated to cost AED 200 million-220 million ($54 million-60 million), the project will cover the construction of 80...

Top architects wanted for Beirut. (Construction: Lebanon).(Brief Article)
May 2, 2003... Solidere, the company responsible for managing the redevelopment of Beirut city centre, is seeking world-class architects to design landmark buildings on key sites around the city. The company has launched a call for architects under what...

Germany's Bauer has won the foundations package for the 33-storey Ikaria Sal 1421 residential tower block development at the Beirut Marina. (News in Brief: Lebanon).(Brief Article)
May 2, 2003... Germany's Bauer has won the foundations package for the 33-storey Ikaria Sal 1421 residential tower block development at the Beirut Marina. The designs for the complex foundations package are not yet complete though they will include excavation...

The deadline for submission of commercial bids has been further extended by a week to 7 May for the contract to build a petroleum engineering college at Khalifa B city in Abu Dhabi emirate. (News in Brief: UAE).(Brief Article)
May 2, 2003... The deadline for submission of commercial bids has been further extended by a week to 7 May for the contract to build a petroleum engineering college at Khalifa B city in Abu Dhabi emirate. Nine local and international companies are...

Emirates Group doubles up: fleet and route expansion should encourage further growth. (Transport: UAE).
May 2, 2003... Dubai-based Emirates Group announced on 30 April strong growth across its businesses for fiscal 2002/03. Fuelled by impressive results from its airline division, the group posted a 74 per cent hike in net profits to AED 1,048 million ($286...

Three in race for Algiers metro. (Transport: Algeria).(Brief Article)
May 2, 2003... A group led by Germany's Dywidag International has submitted the low bid at AD 14,600 million ($177 million) for the contract to build a new section of the Algiers metro. According to the bid opening prices announced by the client -- Entreprise...

Air France. (News in Brief: Algeria).(Brief Article)
May 2, 2003... National flag carrier Air France is expected to announce soon that it will resume flights to Algiers after an eight-and-a-half-year absence. The local press reported in late April that a twice-daily service from Paris and a daily flight from...

Contractors selected for L station packages: winning EPC firms to form Jebel Ali consortium. (Power & Water: UAE).(power and desalination project)(Brief Article)
May 2, 2003... Dubai Electricity & Water Authority (DEWA) is understood to have selected contractors for the four engineering, procurement and construction (EPC) packages on phase 1 of the Jebel Ali L power and desalination project. The four selected...

Paris-based Alstom Power has been awarded a contract for the supply of four power generation sets for the liquefied natural gas (LNG). (News in Brief: Egypt).(Brief Article)
May 2, 2003... Paris-based Alstom Power has been awarded a contract for the supply of four power generation sets for the liquefied natural gas (LNG) plant being developed at ldku. The contract was awarded by the US' Bechtel, which is the engineering,...

Bank International companies. (News in Brief: Gaza/West).(Brief Article)
May 2, 2003... Bank International companies have been invited by Germany's Kreditansta t fuer Wiederaufbau (KfW) to prequalify by 15 May for the contract to provide consultancy services on a solid waste disposal project in the Palestinian territories; The...

Energoprojekt. (News in Brief: Oman).(preparing tender for grind connecion with United Arab Emirates)(Brief Article)
May 2, 2003... Belgrade-based Energoprojekt is preparing tender documents for the interconnection of the electricity grid with the UAE. The project will entail the construction of a 55-kilometre-long, 220-kV overhead line from AI-Wasid to Al-Am in the UAE. In...

Seven companies are in the race for the contract to build a 380-kV substation in Jeddah as part of the PP3 power plant expansion project. (News in Brief: Saudi Arabia).(Brief Article)
May 2, 2003... Seven companies are. in the race for the contract to build a 380-kV substation in Jeddah as part of the PP3 power plant expansion project, also located in the Red Sea city. According to bid opening prices, Germany's Siemens is the low bidder at...

Austrians head wastewater race. (Power & Water: Iran).
May 2, 2003... Austria's VA Tech is close to signing the estimated $60 million-70 million contract to build a wastewater treatment plant in Tehran. VA Tech emerged as the preferred bidder after the evaluation of bids by Tehran Sewerage Company (TSC), the...

Shuaiba stage 2 goes for bid. (Power & Water: Saudi Arabia).(electric power plant)(Brief Article)
May 2, 2003... The long-awaited expansion of the Shuaiba power plant in the western region has gone to tender. Saudi Electricity Company (SEC) in late April invited prequalifiers to bid by 14 July for the project, known as Shuaiba stage 2. The engineering,...

State water agency Office National tie l'Assainissement (ONAS). (News in Brief: Tunisia).(invites vids for water treatment plant)(Brief Article)
May 2, 2003... State water agency. Office National tie l'Assainissement (ONAS) has invited international companies to submit bids by 30 June for the turnkey construction and operation of a water treatment plant for the town of Korbous on the Gulf of Tunis....

Commercial bids went in on 26 April for the project management consultancy contract on phase 2 of the Fujairah power and desalination project. (News in Brief: UAE).(Brief Article)
May 2, 2003... Commercial bids went in on 26 April for the project management consultancy contract on phase 2 of the Fujairah power and desalination project. Four firms submitted technical bids for the contract in early 2003. The bidders are PB Power and Mott...

The bid deadline has been extended by three weeks to 19 June for the first package on the proposed integrated solid waste recycling and treatment project in Abu Dhabi. (News in Brief: UAE).(Brief Article)
May 2, 2003... The bid deadline has been extended by three weeks to 19 June for the first package on the proposed integrated solid waste recycling and treatment project in Abu Dhabi. Up to 14 groups of contractors. were prequalified for the estimated AED 185...

Zenitel. (Telecoms & IT: Algeria).(to provide radio and navigation control equipment on Algerian coast)(Brief Article)
May 2, 2003... Belgian/Norwegian systems integrator Zenitel announced on 28 April that it is to provide a coastal radio communications system and navigation control equipment along the Algerian coastline. The company was awarded the Eur 2.4 million ($2.6...

The Egyptian Company for Mobile services (MobiNil). (Telecoms & IT: Egypt).(Brief Article)
May 2, 2003... The Egyptian Company for Mobile services (MobiNil) has announced net profits of LE 83 million ($14 million) for the first quarter of the year, an 84 per cent increase on profits for the same period in 2002. The increase came on the back of a 29...

Jordan Mobile Telephone Services (Fastlink). (Telecoms & IT: Jordan).(awards contract to Motorola)(Brief Article)
May 2, 2003... Jordan Mobile Telephone Services (Fastlink) has awarded a $19 million contract to the US' Motorola for the expansion of its GSM network and the supply and installation of general packet-switched radio services (GPRS), to accommodate a predicted...

Gippsland. (Industry: Egypt).(raises value of tantalum deposit in Egypt)
May 2, 2003... Australian consortium Gippsland has raised its estimates of the value of the Abu Dabbab tantalum deposit it plans to develop in joint venture with the Egyptian Geological Survey & Mining Authority. The company is waiting for the result of a...

Correction.(Correction Notice)
May 2, 2003... Iran Irasco is an Italian company and not a local firm, as was stated in the article on the pickling line mill project at the local Mobarakeh Steel Complex in MEED 4:4:03.

The World Bank on 29 April agreed to extend a $95 million loan to generate employment in low-income rural areas in the northwest. (Economy: Algeria).(Brief Article)
May 2, 2003... The World Bank on 29 April agreed to extend a $95 million loan to generate employment in low-income rural areas in the northwest. Poverty and unemployment is rife in the mountainous region to the west of Algiers, where a heavy reliance on...

The Kuwait-based Arab Fund for Economic & Social Development (AFESD). (Economy: Egypt).(extends loans to power and education projects in Egypt)(Brief Article)
May 2, 2003... The Kuwait-based Arab Fund for Economic & Social Development (AFESD) has extended two long-term loans worth a total of $200 million to finance power and education projects. The first $100 million loan will be used to finance phase 2 of the...

The government on 24 April signed the World Trade Organisation's Information Technology Agreement (ITA). (Economy: Egypt).(Brief Article)
May 2, 2003... The government on 24 April signed the World Trade Organisation's Information Technology Agreement (ITA), under which it is required to remove all tariffs, duties and other charges on IT imports from other member states. The 59 signatories to...

The African Development Bank (ADB). (Economy: Morocco).(extends health care reform loan)(Brief Article)
May 2, 2003... The African Development Bank (ADB) on 28 April agreed to extend an $80 million loan to Rabat to assist in the financing of major reforms in the kingdom's health sector. The loan will cover 26 per cent of the total costs of the Medical Coverage...

Industries of Qatar sets IPO date. (Economy/Companies & Markets).(intial public offering)(Brief Article)
May 2, 2003... Investors on the DOHA SECURITIES MARKET (DSM) are gearing up to buy shares in the recently-created Industries of Qatar (IQ) after the board announced that an initial public offering (IPO) for 15 per cent of the company's equity will be launched...

Middle East markets: 30 April. (Economy/Companies & Markets).(Illustration)
May 2, 2003... Middle East markets: 30 April 30 Apr % change % change on week on year Bahrain BSE 1,797.04 0.22 -1.34 Egypt CMA ...

Bridging the divide. (Special Report: Oman).(Oman's economic conditions, plans)
May 2, 2003... Oman has not escaped unscathed from the heightened level of regional instability brought about by the invasion of Iraq. However, with the war now over, domestic issues are coming back to the fore. Andy Critch low reports from Muscat on the...

Databank: Economic forecasts, 2002-2003. (Databank).(Middle East)(Illustration)
May 2, 2003... Databank: Economic forecasts, 2002-2003 Real GDP growth Current account (%) ($ million) 2002 2003 2002 2003 Algeria 2.8...

Israeli conditions put roadmap at risk. (Seven Days).(Israeli and Paletinean leaders are still at odds over the right of return for Palestinian refugees)
May 9, 2003... Debate over the right of return for Palestinian refugees is threatening to knock the peace process off track even before the first steps towards implementing a two-state solution have been made. The dispute has arisen days before US Secretary...

Algiers loses its head. (Seven Days).(President Boutefilka replaces Prime Minister All Benflis with Ahmed Ouyahia)(Brief Article)
May 9, 2003... A bitter row at the heart of the political establishment led President Boutefilka on 6 May to replace Prime Minister All Benflis with Ahmed Ouyahia. No official reasons were given for Benflis' sudden and public dismissal, but the move follows...

The authorities are hunting 19 suspected Al-Qaeda members after a 7 May shoot-out with police in Riyadh. (News in Brief: Saudi Arabia).(Brief Article)
May 9, 2003... The authorities are hunting 19 suspected Al-Qaeda members after a 7 May shoot-out with police in Riyadh, during which a large arms cache was discovered. Interior Minister Prince Nayef said that the men, 17 Saudis, an Iraqi and a Yemeni, had all...

US outlines Baghdad's future.
May 9, 2003... Following US President Bush's declaration of the end of major combat operations on 2 May, international attention has turned to Iraq's immediate economic and political future, and in particular the formation of an interim administration and the...

Time was.
May 9, 2003... 10 May 1963 A decree is issued nationalising all banks in Syria 13 May 1988 US State Department reports that more then half the $15,000 million of US arms sales in 1988 will go to the Middle East, with the leading customers being...