MEED Middle East Economic Digest articles from October 2005

MEED Middle East Economic Digest archives from October 2005

Naimi upbeat on reserves.(Petroleum & Mineral Resources Minister Ali Naimi on crude oil reserves)(Brief Article)
October 7, 2005... Petroleum & Mineral Resources Minister Ali Naimi announced in late September that the kingdom will soon almost double its proven reserves of crude oil. "We will soon be able to boost our reserves by 200,000 million barrels using the latest...

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October 7, 2005... Port of Sohar, Oman: Anchoring success 15=16 November 2005, Oman www.meed.com/oman 2nd Major New Project Opportunities in Abu Dhabi 20-21 November 2005. Abu Dhabi www.meed.com/abudhabi Middle East Water Reuse 27-28 November 2005, Abu...

Ten invited for Yanbu gas plant expansion.(Brief Article)
October 7, 2005... About 10 international contractors have been invited by Saudi Aramco to attend a job explanation meeting in Dhahran on 15 October for the project to expand the Yanbu gas plant, Tendering on the estimated $150 million-200 million project is...

BG investment plans take shape.(BG Group PLC's investments in Tunisia)(Brief Article)
October 7, 2005... Plans by the UK's BG to invest up to $1,000 million in the country continue to take shape with the award of the front-end engineering and design (FEED) contract for the development of the Hasdrubal field to the UK office of UAE-based Petrofac...

FCP pursues new strategy.(First Calgary Petroleum Ltd.)(Brief Article)
October 7, 2005... Canada's First Calgary Petroleums (FCP) announced in late September the start of drilling on its ZCH-2 appraisal well on Rhourde Yacoub block 406a in the Berkine basin, southeast of Hassi Messaoud, as part of its new strategic focus on...

Drawdown news drops price.(oil)(Brief Article)
October 7, 2005... With the US government indicating that it could release emergency stocks of heating oil to avoid any shortfalls in supply for the winter, spot Brent prices slipped back further in the first week of October to end at $61.94 a barrel in London,...

Europeans respond to January failure.(Libya)
October 7, 2005... European and Asian oil companies have dominated Libya's second exploration licensing round taking all but one of the 23 oil and gas exploration licences awarded. Italy's Eni and Japan's Mitsubishi Corporation were the biggest winners scooping...

Extensions for Arak and Abadan, again.(National Iranian Oil Engineering Co.)
October 7, 2005... National Iranian Oil Engineering Company (NIOEC) has extended the bid deadlines on me Arak and Abadan refinery projects. However, engineering, procurement and construction (EPC) contractors say they expect me eventual bid dates to be pushed...

Russians to extend Arab gas pipeline.(SYRIA)(Brief Article)
October 7, 2005... Russia's Stroytransgas has been awarded the engineering, procurement and construction (EPC) contract to build a 324-kilometre pipeline from the Jordanian border to the Al-Rayan area east of Homs. The project also includes a spur to the existing...

Descon takes Adgas contract.(Descon Engineering, Abu Dhabi Gas Liquefaction Company Ltd.)(Brief Article)
October 7, 2005... Abu Dhabi Gas Liquefaction Company (Adgas) has issued a letter of intent to Pakistan's Descon Engineering for an estimated $35 million three-year maintenance contract covering its Das island gas liquefaction trains 1, 2 and 3. Descon beat off...

Prequals in for Gasco pipeline.(Abu Dhabi Gas Industries Company)(Brief Article)
October 7, 2005... Companies submitted prequalifications by 4 October to Abu Dhabi Gas Industries Company (Gasco) for the engineering, procurement and construction (EPC) contract to supply and install a 36-inch-diameter. 50-kilometre-long gas pipeline from...

Four in for KJO platform job.(Al-Khafji Joint Operations' deal)(Brief Article)
October 7, 2005... Four groups of contractors submitted bids on 3 October for the detailed engineering, procurement. construction, installation and commissioning (EPCIC) contract to build an integrated wellhead platform offshore the Divided Zone (DZ), The four...

Medco sells Novus Middle East assets.(Medco Energi, Meridian Oil & Gas)(Brief Article)
October 7, 2005... Indonesia's Medco Energi has sold the Middle East assets of its subsidiary Novus Middle East to Meridian Oil & Gas in a deal worth $65 million. Under the terms of the deal Novus Middle East will change its name to Indago Petroleum. The Novus...

Honeywell takes full charge of UOP.(Honeywell Chemicals)(Brief Article)
October 7, 2005... New Jersey-based Honeywell announced on 3 October that it had entered into a definitive agreement with The Dow Chemical Company of the US to acquire the remaining 50 per cent stake in UOP, also of the US. Honeywell already holds a 50 per cent...

First package out on phosphate scheme: four groups invited to bid for $450m-500m job.(Brief Article)
October 7, 2005... Four international companies and groups have been invited to submit bids by 12 November for the contract to build the sulphuric acid plant at Ras al-Zour. The project, part of the $2,000 million phosphate and fertiliser project, is being...

ABB/Daelim head for Q-Chem II award.(ABB Lummus Global Inc. and Daelim Industrial Company Ltd. gets Qatar Chemical Company Ltd.'s deal)(Brief Article)
October 7, 2005... The team of US-based ABB Lummus Global and South Korea's Daelim Industrial Company has been selected for the engineering, procurement and construction (EPC) contract to build the Qatar Chemical Company II (Q-Chem II) downstream units at...

Bakhtar/Tecnimont negotiate swing plants.(Bakhtar Petrochemical Company's negotiations with Tecnimont S.p.A. and Nargan)(Brief Article)
October 7, 2005... Bakhtar Petrochemical Company (BPC) has moved to direct negotiations with Italy's Tecnimont and the local Nargan for two swing high-density polyethylene/low-density polyethylene (HDPE/LDPE) plants in western Iran. BPC originally planned to...

JV secures Lake View hotel.(Arabtec Construction and Bel Hasa Six Construct joint venture)(Brief Article)
October 7, 2005... The local/Belgian joint venture of Arabtec Construction and Bel Hasa Six Construct has been selected for the estimated AED 725 million ($197 million) main contract to build the 300-metre-high Lake View hotel and serviced apartments on the Burj...

Bina bids low for Ilam olefins.(Brief Article)
October 7, 2005... The local Bina n early October submitted the lowest price for the Ilam ethylene cracker project which was tendered earlier this year. Its Eur 225 million ($268 million) bid was some 20 per cent below the next lowest price and almost 30 per cent...

Tecnimont/Daelim take Sahara PDH/PP.(Tecnimont S.p.A./Daelim Industrial Company Ltd. joint venture gets Sahara Petrochemical Co.'s polypropylene and propane dehydrogenation plant construction contract)(Brief Article)
October 7, 2005... The Italian/South Korean joint venture (JV) of Tecnimont and Daelim Industrial Company has received a letter of intent (Lol) from the local Sahara Petrochemical Company for the contract to build its polypropylene (PP) and propane...

DCC signed up for WTC superstructure.(Dubai Contracting Company WLL, Dubai World Trade Centre)(Brief Article)
October 7, 2005... Dubai Contracting Company (DCC) has been awarded the AED 350 million ($95 million) superstructure package on the Dubai World Trade Centre (WTC) residence project. The 23-month contract will cover construction of the superstructure, external...

Capital highway project set to take off.(The Public Works & Housing Ministry's Amman development corridor project)(Brief Article)
October 7, 2005... Three local consultants are in contention for the design and construction supervision contract on the first two phases of the $161 million Amman development corridor project. Consolidated Consultants. Arabtech-Jardaneh and Engicon, previously...

Al-Hani wins library job.(Kuwaiti Ministry of Public Works gives library construction deal to Al-Hani Construction & Trading Company)(Brief Article)
October 7, 2005... The local Al-Hani Construction & Trading Company signed in late September the KD 12.8 million ($42 million) contract for the construction of the new national library on Arabian Gulf street. Mobilisation will start in November. Contract duration...

Gulf investors sign up for social housing.(Venture Capital Islamic Bank and Commercial Real Estate Company's joint venture)(Brief Article)
October 7, 2005... Bahrain's Venture Capital Islamic Bank and Kuwait's Commercial Real Estate Company have signed a joint venture (JV) agreement with the local Rashid al-Game'y & Partners for a $500 million social housing project. The JV will build 24.000 housing...

All in for Sohar berth work.(Omani Transport & Communications Ministry shortlist bidders for work in Sohar Industrial Port )(Brief Article)
October 7, 2005... All the prequalification applicants are understood to have been shortlisted for the phase 3 berth work at Sohar Industrial Port. Thirteen companies applied to prequalify in May. A tender is expected imminently. The scope of works covers berths...

United Properties plans major investment.(United Properties Company, DDG)
October 7, 2005... The US' DDG is expected to complete design work by early 2006 for a major mixed-use development planned in the Red Sea city of Jeddah. Estimated to cost SR 650 million ($173 million), the Andalusia scheme entails the construction of a five-star...

DCC gets DIC development work.(Dubai Contracting Company WLL, Dubai Industrial City)(Brief Article)
October 7, 2005... Dubai Contracting Company (DCC) has been awarded the estimated AED 255 million ($69 million) contract to build the first chase on the proposed Dubai Industrial City (DIC) development. The 17-month contract entails site preparation,...

Icon, Wind jobs awarded in JLT.(Icon Towers, Wind t, Jumeirah Lake Towers)(Brief Article)
October 7, 2005... Two more contracts have been awarded for projects in the Jumeirah Lake Towers (JLT) development. The local SS Lootah Contracting Company has been awarded the main construction package for the Icon Towers project. The estimated AED 250 million...

Al-Hamed sells Austrian ready-mix company.(Al-Hamed Development and Construction)(Brief Article)
October 7, 2005... The local Al-Hamed Development & Construction has sold Austrian Arabian Ready Mix Concrete to the local Arab Technical Construction Company (ATCC) and its subsidiary Arabtec Construction. The sale will provide Al-Hamed with a much-needed...

DIFC set to build first commercial PRT network: many advantages to personal rapid transit system.(Dubai International Financial Centre, personal rapid transit)(Brief Article)
October 7, 2005... Dubai International Financial Centre (DIFC) is expected to issue in November a tender for a contract to design and build a personal rapid transit (PRT) system within the complex. Once completed, the 1.2-kilometre-long network will be the first...

BMI set to launch Jeddah route.(British Midland Airways Ltd.)(Brief Article)
October 7, 2005... UK carrier BMI announced on 1 October plans to launch a three-times weekly service from London Heathrow to Jeddah in spring 2006. BMI will launch its Jeddah service in April as long as booking patterns for the carrier's London-Riyadh route,...

Siemens/Nour win signalling work.(Siemens and Nour Communications Company win Saudi Railways Organisation's contract)(Brief Article)
October 7, 2005... The German/local joint venture of Siemens and Nour Communications Company received a Fetter of award on 30 September for the SR 429.8 million ($115 million) contract to install a new signalling system and a GSM railway (GSM-R) communications...

Dubai streamlines port operations.(Brief Article)
October 7, 2005... Dubai has announced that it had merged its domestic and international port operations to create one entity named DP World. The merger of Dubai Ports Authority (DPA) and Dubai Ports International (DPI) creates one of the largest port operators...

Italians seal paper plant deal: export-oriented Abu Dhabi facility set for major overhaul.(Over Meccanica gets Abu Dhabi National Paper Mill's deal)(Brief Article)
October 7, 2005... Abu Dhabi National Paper Mill (ADNPM) has awarded Italy's Over Meccanica the contract to expand its existing plant in the capital's new industrial city. Total investment in the project is about AED 200 million ($54 million--MEED 28:5:99). ...

Kurds mull industrial city in Irbil.(Kurdish Regional Government goes ahead with Arat industrial city project )(Brief Article)
October 7, 2005... The Kurdish Regional Government (KRG) is moving ahead with plans to build its Arat industrial city project after completing a feasibility study. The project, which will see total investment costs of about $500 million, is backed by the World...

Bids in for GIIC infrastructure.(Gulf Industrial Investment Company EC)(Brief Article)
October 7, 2005... Technical bids were submitted on 1 October for the infrastructure contract on the expansion of the iron pelletising plant of Gulf Industrial Investment Company (GIIC) at Hidd. The bidders for the estimated $90 million-100 million engineering,...

Bechtel studies line 6.(Bechtel Group Inc.'s deal with Aluminium Bahrain BSC)(Brief Article)
October 7, 2005... The US' Bechtel is understood to have been asked to submit a feasibility study by November into the possibility of adding a sixth potline at Aluminium Bahrain (Alba), Bechtel was the engineering, procurement and construction management (EPCM)...

Maaden asks for PMC clarifications.(Saudi Arabian Mining Company and the Public Investment Fund ask for project management contract clarifications)(Brief Article)
October 7, 2005... Saudi Arabian Mining Company (Maaden) and the Public Investment Fund (PIF) have asked the two shortlisted companies and groups bidding for the position of project manager on the development of phosphate resources to resubmit technical and...

Man plans pipe plant.(Man Industries to open pipe-making unit in United Arab Emirates)(Brief Article)
October 7, 2005... India's Man Industries plans to set up a AED 250 million ($68 million) pipe-making unit in the UAE. The company is still to decide on a location for the plant, but is understood to have identified potential sites in Abu Dhabi, Dubai and Ras...

Dubal inks alumina supply deal.(Dubai Aluminium Company Ltd.'s deal with Global Alumina Corp.)(Brief Article)
October 7, 2005... Dubai Aluminium Company (Dubal) has signed a long-term supply agreement with Canada's Global Alumina Corporation. Under the terms of the agreement, Dubai will purchase 40 per cent of alumina produced by a proposed refinery developed by Global...

Shuwaikh desal tender attracts only one bidder.(Doosan Heavy Industries & Construction Company only bidder at Kuwaiti Energy Ministry's seawater desalination plant project)(Brief Article)
October 7, 2005... The fate of the 30 million-gallon-a-day (g/d) reverse osmosis (RO) seawater desalination plant project at Shuwaikh has been thrown into doubt after only one company submitted a kid for the engineering, procurement and construction (EPC)...

ABB wins power plant renovation work.(Kuwaiti Energy Ministry gives deal to ABB Asea Brown Boveri Ltd.)(Brief Article)
October 7, 2005... Europe's ABB announced on 5 October the award of a contract, worth $60 million, to modernise the Doha West power and desalination plant. Under the terms of the contract, ABB will extend the plant's lifespan by replacing old instrumentation and...

Alstom closes in on power island.(deal with Sohar Aluminium Company)(Brief Article)
October 7, 2005... France's Alstom is understood to have entered into contract negotiations with Sohar Aluminium Company (SAC), for the estimated $450 million-460 million contract to build the captive power island serving the plant. Alstom bid on the basis of an...

Wadi Dayqah dam tendered.(Regional Municipalities, Environment & Water Resources Ministry invite bids in Oman)(Brief Article)
October 7, 2005... Prequalified contractors have been invited to bid by 28 November for the contract, worth an estimated RO 50 million-60 million ($128 million-154 million), to build the Wadi Dayqah dam. The scope of works covers the main dam, an earthfill saddle...

Meedco/NCC win Khursaniyah T&D work.(Middle East Engineering and Development Company Ltd. and National Contracting Co., transmission and distribution)(Brief Article)
October 7, 2005... The local/South Korean Middle East Engineering & Development Company (Meedco) and the local National Contracting Company (NCC) have been awarded the three packages on the Khursaniyah transmission and distribution (T&D) project in the Eastern...

DEWA awards substation packages.(Dubai Electricity and Water Authority)(Brief Article)
October 7, 2005... Dubai Electricity & Water Authority (DEWA) has made four awards on its programme to build nine new 132/11-kV substations. The local Emirates Trading Agency (ETA) has taken the lion's share of work, having been awarded an order to supply and...

Various options for Al-Aweer bidders.(Dubai Municipality evaluating bids for Al-Aweer sewage treatment plant's expansion contract)(Brief Article)
October 7, 2005... Dubai Municipality (DM) is conducting clarifications with three groups for the 12-month contract to increase capacity at Al-Aweer sewage treatment plant (STP). It expects to make an award by November. The bidders for the...

Hospitals to get IT injection.(information systems)(Brief Article)
October 7, 2005... Bids are due by 31 October to supply information systems to seven hospitals in the West Bank and Gaza. Computer equipment and software will be installed in three pilot hospitals in the West Bank and three in Gaza, all of which have little IT...

Alcatel to roll out 3G solution for Q-Tel.(Compagnie Financiere Alcatel, third-generation, Qatar Telecom)(Brief Article)
October 7, 2005... France's Alcatel has announced the award of a contract to deploy part of its third-generation (3G) and universal mobile telecommunications system (UMTS) radio network for Qatar Telecom (Q-Tel), Under the terms of the contract, Alcatel will...

Aperto deploys wireless solution for Mobily.(Aperto Networks' deal in Saudi Arabia)(Brief Article)
October 7, 2005... The US' Aperto Networks has been selected to deploy its PacketWave broadband wireless system for the kingdom's second GSM operator Mobily, Initially to be installed in the cities of Riyadh, Jeddah, Dammam, Dhahran and Al-Khobar, the 2.5-GHz...

UK wins major defence deal: deal centres on BAE upgrading Tornado aircraft.(deal with Royal Sandi Air Force)
October 7, 2005... King Abdullah has approved a multi-billion-dollar deal calling for the UK's BAE Systems to upgrade or replace all 96 Tornado aircraft purchased for the Royal Sandi Air Force (RSAF) under the Al-Yamamah defence deal originally signed in 1985,...

US arms sale to Riyadh looms.(Brief Article)
October 7, 2005... The US' Defence Security Cooperation Agency (DSCA) in early October notified Congress of the potential sale of $2,100 million worth of military equipment to Riyadh. One batch under the deal, potentially worth up to $760 million, would cover the...

Muscat signs US FTA: Congress and Majlis al-Shoura to ratify.(free trade agreement)(Brief Article)
October 7, 2005... Commerce & Industry Minister Maqbool bin Ali Sultan and US trade representative Rob Portman concluded the US-Oman free trade agreement (FTA) by video conference on 3 October following seven months of negotiations. The formal signing will take...

EBIC closes ammonia finance: finance secured for Suez Industrial Zone project.(Egypt Basic Industries Company)(Brief Article)
October 7, 2005... Full financial close has been achieved on the debt and equity portions for the planned Egypt Basic Industries Company (EBIC) ammonia project in the Suez Industrial Zone. Societe Generale (SG) was the financial adviser on the deal (MEED...

Shamil mandates banks for murabaha facility.(BNP Paribas Boubyan Bank)(Brief Article)
October 7, 2005... BNP Paribas Boubyan Bank and Gulf International Bank (GIB) have been mandated to lead arrange the $100 million. five-year amortising murabaha syndicated facility for Shamil Bank. Syndication was launched on 5 October, with profit mark-up...

Rakbank bond offering complete.(National Bank of Ras al-Khaimah)(Brief Article)
October 7, 2005... The inaugural $200 million, five-year floating rate bond offering by National Bank of Ras al-Khaimah closed in late September oversubscribed by more than 150 per cent. The euro medium-term notes (EMTNs) have been listed on the London Stock...

Bank meetings held on DEWA advisory.(Dubai Water & Electricity Authority funding)(Brief Article)
October 7, 2005... Bank meetings were held late September with the short-listed bidders for the mandate to advise Dubai Water & Electricity Authority (DEWA) on its future funding requirements. They include Citigroup, Emirates Bank Group and HSBC. According to the...

Investcorp stages technology divestment.(Investcorp Bank B.S.C.)(PortalPlayer and Utimaco Software AG)(Brief Article)
October 7, 2005... Bahrain-based Investcorp has staged two exits from technology companies, California-based PortalPlayer and Germany's Utimaco. Net proceeds were $70 million. The firms were managed under Investcorp's $500 million Technology Investment venture...

Stepping up change: both political and economic reforms in the kingdom are gaining a momentum which appears increasingly unstoppable.
October 7, 2005... King Hamad bin Isa al-Khalifa opened the fourth session of the National Assembly (parliament) on 1 October, praising members for the "big and effective role you have carried out in a short time... to fulfil many of the people's hopes, wishes...

Developing, diversifying: Manama is implementing concrete and radical steps to reform the economy and the signs are that the boldness is paying off.
October 7, 2005... When the UN released its annual World Investment Report on 29 September, it raised smiles in Manama. Bahrain's ranking in attracting foreign direct investment had leapt by 29 places, leaving it rated the 27th most successful country in the...

Foreign fruits: the plan to tax employers for their expatriate workers is only part of wider labour market reform plans, says Labour Minister Majeed al-Alawi.(LABOUR MARKET REFORM)
October 7, 2005... Parliamentarians returning from their summer vacations have a busy year ahead, with numerous thorny reform questions on the agenda. Not least of them will be the radical restructuring of the labour market, first proposed last year and...

The sleeping minnow awakes: the kingdom's construction industry is delivering an unprecedented flow of work for both local and international players.
October 7, 2005... Contractors in Bahrain say they have never seen anything like it. Such is the volume of construction work in the market that the larger companies are passing by on the smaller jobs that once were their bread and butter. "Politically we have to...

Overloading the bandwagon: soaring land prices and a shortage of office, tourist and residential property is encouraging investors to pile into real estate.
October 7, 2005... Durrat, Amwaj, Al-Areen, Lulu, Golf Views--the list of enticingly named real estate projects goes on. Bahrain is witnessing a real estate boom, as investors--especially Islamic ones--seek to plough their copious funds into bricks and mortar,...

Coming of age: the kingdom's telecoms regulator has had a tough job policing the newly liberalised market and guarding its independence.(Telecommunications Regulatory Authority, Bahrain)
October 7, 2005... It may only be three years old, but Bahrain's independent Telecommunications Regulatory Authority (TRA) can already stake a claim to being the elder statesman of the Gulf's gradually deregulating telecoms market. Since its inception, more than...

Quietly famous: LMC may lack global awareness, but in its core market, it has certainly made an impact.(Liquidity Management Centre)
October 7, 2005... The name Liquidity Management Centre (LMC) is not one that automatically springs to mind when surveying the Islamic finance market in the Gulf. Established regional heavyweights such as Dubai Islamic Bank (DIB), or the in-vogue sharia-compliant...

Unlocking the door: mobile phones may be commonplace across the region, but there is still plenty of room for growth in this rapidly developing market. The coming 12 months will see a significant expansion in the sector, with new operating licences being offered across the region.
October 7, 2005... Nowadays, most people take mobile phones for granted. Although the technology is still relatively new, the ability to remain in constant communication with friends, family and colleagues is now so commonplace that in most places the novelty is...

The regional force be with you: Mobile Telecommunications Company (MTC) of Kuwait has grown rapidly over the past five years to become the region's largest telco in terms of subscribers and geographical coverage. MTC director-general Saad al-Barrak talks about his company's development, and the challenges it faces as it continues its expansionist drive.(Interview)
October 7, 2005... It has been a hectic past 12 months for MTC--how would you describe the last year? Hectic is too mild a word. The last year has been a commercial volcano. When compared to last year, 2005 has seen more than 100 per cent growth. So for a...

Crossed wires: with constant Majlis intervention regarding the rules of foreign engagement, Tehran is still no closer to getting a second GSM network.(Irancell, global system for mobile communications)
October 7, 2005... Iran's 18-month quest for a second GSM licence has caused foreign investors to wince. A tender process that began impeccably has suffered a string of delays and difficulties, amid political interference and growing mistrust between foreign and...

Building on potential: with a regulator and plans for a new GSM licence, Syria's market for telecommunications is poised for take-off.(global system for mobile communications)
October 7, 2005... Talk of privatisation and economic liberalisation in the Levant tends to be associated with Beirut or Amman, but in one sector at least Lebanon's larger neighbour to the east is the one making steady progress. Damascus' state-run economy may...

Enter number three: the launch of Egypt's third GSM operating licence is attracting considerable interest and is set to shake up the telecoms sector.(global system for mobile communications )
October 7, 2005... Sometime in late October, the National Telecommunications Regulatory Authority (NTRA) will start the much-anticipated competition for Egypt's third GSM licence, paving the way for the launch of an additional mobile phone network by 2007. ...

Tenders.(BUSINESS OPPORTUNITIES)(Public Notice)
October 7, 2005... For up-to-date information on the region's biggest projects go to www.meedprojects.com. To promote your business opportunity to more than 50,000 business people who read MEED every week, send details to MEED Editor, 33-39 Bowling Green Lane,...

Contracts awarded in September 2005.(CONTRACTS: SEPTEMBER)
October 7, 2005... More than $24, 036 million worth of contracts was awarded in the Middle East in September, according to this selected checklists compiled from MEED reports. For up-to-date information on the region's largest projects, go to www.meedprojects.com...

KSE still going strong: the KSE is riding high, and by all accounts the bullish trend is expected to continue.(Kuwait Stock Exchange)
October 7, 2005... Another month, another record for the Kuwait Stock Exchange (KSE), as the region's deepest bourse passed the 10,000 mark for the first time in mid-September. The landmark was no flash in the pan. By close of trading on 3 October, the index had...

Databank.(economic indicators)
October 7, 2005... [GRAPHICS OMITTED] DATABANK: ECONOMIC INDICATORS, 2004 ($ million, Real Population Population GDP Real unless GDP (million) growth per capita otherwise ...

GCC states bring joy to world railways: a dozen major rail projects are planned for the GCC. The railway industry should be dancing in the streets.(Gulf Cooperation Council)
October 7, 2005... It is a truth universally acknowledged that there is no money in railways. This helps to explain why there have been so few new rail projects in North America and Western Europe and why the schemes that have gone ahead took longer to build and...

Capitalising on growth.(economic growth)
October 14, 2005... Governments around the world can be forgiven for casting envious glances in the direction of Qatar. Soaring oil prices and growing levels of energy production are expected to deliver 25 per cent growth in gross domestic product (GDP) in 2005 -...

On the record.(SEVEN DAYS)(Brief Article)
October 14, 2005... "I think this is the last statement I might give" Former Syrian Interior Minister Ghazi Kanaan in a telephone interview with Lebanese radio station Voice of Lebanon, three hours before he was found dead in his office

Interview causes political stir: national guard chief calls for decision-making review.(Shaikh Salem al-Ali al-Sabah)
October 14, 2005... The ruling family hit the local and regional headlines on 11 October after the publication of a controversial newspaper interview forced the amir to issue a public declaration of confidence in his prime minister. The move also spurred debate on...

Looking back ...
October 14, 2005... 5 October 1965 The new Bahraini dinar, worth fifteen shillings, replaces the old Indian external rupee which was previously the official currency 12 October 1990 Tehran and London restore diplomatic relations, 18 months after they...

Tension mounts as referendum vote nears.(IRAQ)
October 14, 2005... The Transitional National Assembly voted on 12 October to approve a quartet of last-minute amendments to the draft constitution. Iraqi and US officials had been in 11th-hour negotiations with Sunni representatives over the draft charter, which...

Kanaan commits suicide as UN report nears conclusion.(LEBANON, Ghazi Kanaan)(Brief Article)
October 14, 2005... Damascus announced on 12 October that Syrian Interior Minister Ghazi Kanaan had committed suicide. The announcement came as the UN investigation into the assassination of former Lebanese prime minister Rafiq Hariri entered its final stages. ...

Libyan court to review convictions: 9 October.(Brief Article)
October 14, 2005... Libya's Supreme Court rules in favour of a retrial for scores of political prisoners. The decision allows 85 Muslim Brothers members to appeal their convictions for supporting a political party The prisoners, many of whom are university...

Riyadh paints rosy picture: 9 October.(Saudi Arabian economy )(Brief Article)
October 14, 2005... The Saudi Arabian economy grew by 5.3 per cent and the budget surplus hit $28,500 million in 2004, the Saudi Arabian Monetary Agency (SAMA-central bank) says. The balance of payments surplus was almost $52,000 million. SAMA governor Hamad...

African Union hostages released in Darfur: 10 October.(Brief Article)
October 14, 2005... Rebels in the Darfur region of Sudan release all 38 African Union (AU) monitors kidnapped the day before. The AU blames a splinter group from the Justice & Equity Movement for the abductions. "We want the AU to leave and we have warned them not...