MEED Middle East Economic Digest back issues from October 2006:
The X factor.(COMMENT)(Editorial)
Oct 06, 2006 ... Ask any Gulf politician why his country is a good place to do business and the answers will trip off the tongue. It is a time of record growth. Budget surpluses are expected to reach X next year. Oil prices are expected to stay above X dollars a barrel for X amount of time. Population ...
Rice arrives amid rising bloodshed in the territories; Hamas, Fatah clash over unpaid salaries; Olmert and Abbas moot talks.(REGIONAL)(Condoleezza Rice -US Secretary of State )(Ehud Olmert-Israeli Prime Minister )
Oct 06, 2006 ... US Secretary of State Condoleezza Rice began a week-long tour of the Middle East on 1 October, as fighting between rival Palestinian groups rose to levels unseen since the creation of the Palestinian Authority (PA) in 1994. Rice's visit to the region is aimed at bolstering ...
On the record.(SEVEN DAYS)(Brief article)
Oct 06, 2006; ... "If everyone is honest and keeps to their commitments, it will be positive for the Iraqi people and put an end to sectarianism. If not, it will be ...
Looking back ...(SEVEN DAYS)(Brief article)
Oct 06, 2006 ... 7 October 1966 Unofficial talks are going on between Shaikh Zayed, the new ruler of Abu Dhabi and the rulers of Dubai, Sharjah, Ras al-Khaimah, Umm al-Qaiwain and Ajman with a view to economic unity or federation 4 October ...
UAE approves electoral college for first elections.(UAE)(Brief article)
Oct 06, 2006 ... The UAE's national election committee (NEC) on 1 October approved 6,689 electoral college members including 1,189 women as part of the preparations for the country's first elections to the Federal National Council (FNC), which will take place before the end of 2006. "The aim of ...
Referral looms as West turns down new plan.(IRAN)(Brief article)
Oct 06, 2006 ... Iran faces a probable UN Security Council showdown over its nuclear programme after the West ruled out a last-ditch plan to find a compromise. The US and the UK are likely to push for immediate UN sanctions against Iran, but it is still unclear whether veto-wielding Security Council ...
Palestinian government offices closed: 2 October.(NEWS DIGEST on MEED.com this week)(Brief article)
Oct 06, 2006 ... All Palestinian government offices cease work following the ransacking of its headquarters in Ramallah by ...
Baghdad gunmen abduct 14: 2 October.(NEWS DIGEST on MEED.com this week)(Brief article)
Oct 06, 2006 ... Camouflaged gunmen in Baghdad abduct at least 14 shoppers from a computer store before driving off in what appear to be licence plate-less government security vehicles. The incident ...
Sinai police break up weapons ring: 2 October.(NEWS DIGEST on MEED.com this week)(Brief article)
Oct 06, 2006 ... Egyptian police announced on 30 September that they had broken up a weapons-dealing ring in Sinai that had been illegally selling guns and ammunition. "Nine members of ...
Yemen to produce nuclear power: 2 October.(NEWS DIGEST on MEED.com this week)(Brief article)
Oct 06, 2006 ... President Saleh announces that Yemen will co-operate with the US and Canada to generate electricity using nuclear power. "In the first stage, we will generate ...
GCC citizens to receive equal treatment in Bahrain: 3 October.(NEWS DIGEST on MEED.com this week)(Gulf Cooperation Council)(Brief article)
Oct 06, 2006 ... Bahrain's cabinet approves a draft law which will give GCC citizens working in the civil service the same rights as their local counterparts. "In line with the decision of the 2000 GCC summit to treat GCC citizens ...
Qatari UN vote angers Amman: 3 October.(united nations)(Brief article)
Oct 06, 2006 ... Jordan has recalled its ambassador from Doha for consultation after Qatar's decision to vote for the South Korean foreign affairs minister Bah Ki-Moon rather than back the Jordanian ...
Baghdad announces new security plan: 3 October.(NEWS DIGEST on MEED.com this week)(Ramadan Agreement to curb violence)(Brief article)
Oct 06, 2006 ... Iraqi Prime Minister Nouri al-Maliki announces a four-point plan designed to curb sectarian violence across the country. The so-called "Ramadan ...
Saddam verdict postponed: 4 October.(NEWS DIGEST on MEED.com this week)(Saddam Hussain)(Brief article)
Oct 06, 2006 ... Officials say the verdict in the first trial of Saddam Hussain will be delayed. A judgement was due on 16 October when the court reconvenes, but ...
System overload: the Gulf power sector has been stretched to breaking point this summer. But with sky-high demand and contractor shortages, there is little respite on the horizon.(GCC POWER)(Cover story)(Statistical data)
Oct 06, 2006; ... It has been a long hot summer for Gulf utilities. Record demand has stretched the electricity sector to breaking point, with power stations and distribution networks struggling to cope with the unprecedented load. Power cuts have been experienced in Jeddah, Manama and Kuwait City, leading ...
Taking a private interest: despite the huge amount of cash sluicing around the Middle East, the region's private equity industry is still in its infancy.(BRIEFING: PRIVATE EQUITY)
Oct 06, 2006; ... The Carlyle Group is coming. With more than $44,300 million of private equity under management, the vast Washington-based firm has drawn its fair share of investment from the Middle East over the years. For the first time, however, the group is planning to inject money back into the ...
Kurds bite back on oil rights; Barzani threatens secession over northern fields.(IRAQ)(Nechirvan Barzani - Kurdish Prime Minister )
Oct 06, 2006 ... Kurdish Prime Minister Nechirvan Barzani has claimed that Baghdad is trying to sabotage oil investment in the Kurdish region. He warned that the territory could secede if Baghdad refuses to recognise Irbil's exclusive right to negotiate and sign agreements covering the country's northern ...
Sanctions threat to Azadegan project.(IRAN)(Brief article)
Oct 06, 2006 ... The $2,000 million project to develop the Azadegan field has once again been thrown into doubt as Tokyo has warned it would withdraw funding in the event of UN sanctions being imposed on Tehran. Iranian lawmakers have meanwhile called for the project to go to local contractors. Japan's ...
Tehran accelerates rig work.(IRAN)(contracts of Iran Offshore Engineering Company with Pars Oil & Gas Company and National Iranian Drilling Company)(Brief article)
Oct 06, 2006 ... Tehran has placed contracts worth up to $600 million for four offshore rigs for use in the South Pars gas fields. Iran Offshore Engineering Company (IOEC) secured one build and lease contract for two rigs through negotiation with the client, Pars Oil & Gas Company (POGC). It also won a ...
Two in line for Pars LNG.(IRAN)(JGC Corp. and Technip S.A. gets contracts of LNG plant construction with Pars Oil and Gas Co.)(Brief article)
Oct 06, 2006 ... A team of Japan's JGC Corporation and Paris-based Technip, and an Italian duo of Snamprogetti with Saipem have been prequalified for the contract to build a gas liquefaction plant on the Pars LNG project. Estimated to be worth $2,500 million-3,000 million, the engineering, ...
Sumed upgrades storage.(EGYPT)(Arab Petroleum Pipelines Co.)(Brief article)
Oct 06, 2006 ... Arab Petroleum Pipelines Company (Sumed) is to expand crude storage capacity at its Sidi Krier terminal and develop facilities at Ain el-Sokhna. The project involves the ...
Arabian Oil renews deal.(Arabian Oil Company Ltd.)(Brief article)
Oct 06, 2006 ... Arabian Oil Company (AOC), a subsidiary of Japan's AOC Holdings, has signed an agreement with the Oil Ministry to continue providing technical assistance on the Tuba field development plan. AOC originally signed a ...
Kurds review Kormor.(contracts of State Company for Oil Projects)(Brief article)
Oct 06, 2006 ... The Kurdistan regional government (KRG) is reviewing the tendering process for the engineering and procurement (EP) contract to build gas gathering and processing facilities at the Kormor field in the north. The scheme, which had been under the control of ...
Exploration bids invited.(LIBYA)(Brief article)
Oct 06, 2006 ... National Oil Corporation (NOC) has invited 47 international oil companies to bid for licences to explore for oil and gas in the country. The prequalifiers have until 20 December to submit bids for the 14 ...
Aramco studies Nuayyim gas separation.(SAUDI ARABIA)(Saudi Arabian Oil Co.)(Brief article)
Oct 06, 2006 ... Four companies submitted technical and commercial bids to Saudi Aramco on 30 September for the second and largest lump-sum turnkey (LSTK) contract on the Nuayyim oil field development project. Bids are already under evaluation for package one on the development, which will have ...
Prequals in for Satah project.(Brief article)
Oct 06, 2006 ... Zakum Development Company (Zadco) received pre-qualifications on 30 September for the engineering, procurement and construction (EPC) contract covering the Satah full-field development project in offshore Abu Dhabi. Estimated to be worth $300 million, the 30-month contract will ...
Price slide continues, as US crude stocks build.(OIL ROUND-UP)
Oct 06, 2006 ... Oil prices maintained their downward trend in the first week of October. US inventories of both crude and key products showed healthy increases, while traders' worries about the Iranian nuclear issue ebbed. Spot Brent was trading at $56.06 a barrel on 4 October. US crude stocks ...
Shell signs up for two blocks.(SYRIA)(Royal Dutch/Shell Group)(Brief article)
Oct 06, 2006 ... The Royal Dutch/Shell Group signed on 5 October licence agreements to explore for oil and gas in two blocks in the southeast. The Anglo-Dutch company has been awarded blocks 13 and 15, which were included in the country's fifth oil and gas licensing round. The ministry expects ...
Transmed boost takes off.(Transmed gas pipeline between Algeria and Italy)(Brief article)
Oct 06, 2006 ... A project to increase capacity on the Tunisian section of the Transmed gas pipeline between Algeria and Italy is set to go ahead following the signing in late September of off take agreements with four Italian companies. The agreements cover the supply of an additional 300 million cubic ...
Dana unveils LPG plant.(Dana Gas)(liquefied petroleum gas )(Brief article)
Oct 06, 2006 ... Sharjah-based Dana Gas has announced plans to build a $100 million liquefied petroleum gas (LPG) plant in the Gulf of Suez. The Gulf of Suez gas liquids plant will be built, owned and operated by a 50:50 joint venture of Egyptian Natural Gas Holding Company (EGAS) and Danagaz (Bahrain)--a ...
Eight in line for tight gas contract.(OMAN)
Oct 06, 2006 ... The Oil & Gas Ministry has shortlisted about eight international oil companies (IOCs) for the award of a long-term contract to develop "tight" gas in the central Khazzan and Makarem fields. The shortlist was drawn up after 13 IOCs submitted appraisal and development proposals in ...
Sohar gets refined.(OMAN)(Sohar Refinery Co.)(Brief article)
Oct 06, 2006 ... The local Sohar Refinery Company (SRC) expects to complete performance testing of all its refinery units by the end of October on its 116,000-barrel-a-day greenfield refinery ...
Bids due for Khurais.(Brief article)
Oct 06, 2006 ... Bids are due to be submitted by 17 October to a team of Italy's Snamprogetti and SNC Lavalin of Canada for the subcontract covering the installation Of a major water injection pumping station (WIPS) at Ain Dar ....
Adyard dons jacket.(UAE)(Adyard Abu Dhabi )(Brief article)
Oct 06, 2006 ... Adyard Abu Dhabi announced in late September the award of a $5.5 million lump-sum turnkey (LSTK) contract to fabricate and load out a jacket and topsides for a production ...
Refinery bids under study.(UAE)(contracts)(Brief article)
Oct 06, 2006 ... The UK office of US-based Foster Wheeler is evaluating bids for the mechanical and piping subcontract on the expansion of the condensate refinery at Jebel Ali, Bidders for the estimated $50 million package ...
CCC wins Olefins II work.(KUWAIT)(Consolidated Contractors International Company)(Brief article)
Oct 06, 2006 ... Athens-based Consolidated Contractors International Company (CCC) has started work on the mechanical II package at the Olefins II petrochemicals complex in the Shuaiba industrial area. The scope of works on the $24 million contract, awarded in the summer, covers the erection of three ...
Honeywell takes Tasnee.(SAUDI ARABIA)(contracts )(Brief article)
Oct 06, 2006 ... The US' Honeywell has won a $7 million subcontract to supply process and safety control systems for the Jubail ethylene cracker planned by the local Tasnee Petrochemicals. Under the terms of the contract, placed by the cracker's ...
Sabic settles with Exxon.(SAUDI ARABIA)(contracts)(Brief article)
Oct 06, 2006 ... Saudi Basic Industries Corporation (Sabic) announced on 28 September that it had reached a full and final settlement with the US' ExxonMobil Corporation of its disputes over polyethylene (PE) production technology and patents ....
Borouge tenders utilities: commercial bid deadline for cracker package extended by a month.(contracts)(Brief article)
Oct 06, 2006 ... Abu Dhabi Polymers Company (Borouge) has invited international contractors to submit bids by the end of November for the estimated $1,000 million offsites and utilities (O&U) contract on its planned Ruwais petrochemicals complex expansion. At least four international ...
Supply news boosts Sitra.(BAHRAIN)(Brief article)
Oct 06, 2006 ... The Kuwait Finance House-Bahrain (KFH-Bahrain) plan to build an estimated $2,000 million petrochemicals, power and water project at Sitra has received a boost, with the client seeing improving prospects for a gas supply agreement between Doha and Manama. Germany's Uhde has also replaced ...
Bids in for Ibn Zahr OCU.(SAUDI ARABIA)(Brief article)
Oct 06, 2006 ... At least three international engineering, procurement and construction (EPC) contractors submitted bids in late September for the $100 million-150 million contract to build the new olefins conversion unit (OCU) at the Saudi European Petrochemical Company (Ibn Zahr) polypropylene (PP) ...
Bids in for Saadiyat bridge: major packages move forward on $27bn tourism development.(UAE)(Tourism Development & Investment Company)(Brief article)
Oct 06, 2006 ... The local Tourism Development & Investment Company (TDIC), a wholly-owned subsidiary of Abu Dhabi Tourism Authority (ADTA), has received bids for two major contracts on its AED 100,000 million ($27,200 million) Saadiyat island development. The contracts cover a bridge connecting the island ...
Three on grid for Motorcity.(UAE)(contracts)(Brief article)
Oct 06, 2006 ... Local developer Union Properties has awarded one major contract on its AED 3,500 million ($950 million) Motorcity development and is close to making awards on two other packages. The 700,000-square-metre site is an extension of the already complete Dubai Autodrome on Emirates ...
Al-Muhairy wins Dubai roads.(UAE)(Dubai's Roads and Transport Authority)(Brief article)
Oct 06, 2006 ... Dubai's Roads & Transport Authority (RTA) has awarded the local Al-Muhairy General Contracting Company an estimated AED 171 million ($47 million) contract for road works in the Muhaisnah and Mizhar areas. Al-Muhairy was low bidder for the retendered contract when bids were submitted in ...
Limitless plans scheme.(JORDAN)(Limitless)(Brief article)
Oct 06, 2006 ... Limitless, part of Dubai World, is considering plans for a major mixed-use development in Jordan. Limitless plans to develop the project in ...
Shanfari on the road.(OMAN)(contracts)(Brief article)
Oct 06, 2006 ... The local Shanfari Trading & Contracting has been selected for the contract to expand the Salalah-Thumrait highway. The contractor was low bidder at RO 47.7 ...
Call for special ops work.(QATAR)(contracts)(Brief article)
Oct 06, 2006 ... The US Corps of Engineers' transatlantic programmes centre has issued a presolicitation notice inviting US and local contractors to bid for a special forces aircraft operations project at Al-Udeid airbase. Request for ...
Hospital bids invited.(SAUDI ARABIA)(Brief article)
Oct 06, 2006 ... Dallah Hospital, a subsidiary of the local Dallah Albaraka Group, has invited contractors to submit bids by 11 November for the contract to build a tower next to the existing hospital in ...
Al-Redwan takes hotel.(SAUDI ARABIA)(Al-Redwan Trading and Contracting)(Brief article)
Oct 06, 2006 ... The local Al-Redwan Trading & Contracting has been awarded the estimated SR 100 million ($27 million) contract to build a new five-star hotel in Makkah ....
Riyadh library highlights contractor dearth.(SAUDI ARABIA)(Brief article)
Oct 06, 2006 ... The submission of bids from only two contractors on 10 October for the contract to build a new public library has once again raised questions over the lack of contractor capacity within the kingdom. Local tendering regulations stipulate that at least three companies must participate in ...
Real estate project deluge continues.(BAHRAIN)(Brief article)
Oct 06, 2006 ... Two major real estate developments have been launched in the kingdom. The news follows the announcement in late September that Ithmaar Bank planned three schemes worth a total of $2,000 million (MEED 29:9:06). Al-Enma'a House for Real Estate, a subsidiary of Kuwait Finance ...
101 Marina tower award.(UAE)(contracts)(Middle East Foundations)(Brief article)
Oct 06, 2006 ... The local Middle East Foundations has won the foundations package on the 101 Marina tower Project in Dubai Marina, The 101-storey structure will be 412 metres high with a total built-up area of 144,000 ...
Sulphur terminal bids in.(UAE)(Brief article)
Oct 06, 2006 ... Abu Dhabi Oil Refining Company (Takreer)has received technical bids for the dredging works On the phase 3 expansion of the Ruwais sulphur handling terminal (RSHT). The bidders ...
Mizin Dubailand plans.(UAE)(contracts)(Brief article)
Oct 06, 2006 ... Mizin, the real estate development division of Tatweer, part of Dubai Holding, plans to build a mixed-use development in Dubailand; ...
Palm, Marina awards.(Al-Fattan MRCB Construction Company)(Brief article)
Oct 06, 2006 ... Al-Fattan MRCB Construction Company, a joint venture of local real estate developer Al-Fattan Properties and Malaysia's Malaysian Resources Corporation (MRCB), has won two ...
Jet Group to tackle housing shortage.(MOROCCO)(Brief article)
Oct 06, 2006 ... Private investors are set to begin an investment programme that will see the construction of 32,000 new housing units. The new housing will help to alleviate an acute shortage in the kingdom. House Invest, a 50:50 consortium of the local Jet Group and Bahrain-based investment ...
Six wins Ras Laffan work.(port construction contracts)(Brief article)
Oct 06, 2006 ... A joint venture (JV) of Belgium's Six Construct and Interbeton of the Netherlands has been awarded an estimated $125 million subcontract on the Ras Laffan port expansion. Placed by the Belgian/Dutch JV of Jan ...
Snasco leads grouping.(UAE)(Snasco)(Brief article)
Oct 06, 2006 ... Saudi-based real estate company Snasco will lead a Saudi/local consortium that plans to build a 2.9-square-kilometre mixed-use development in Sharjah, Sharjah investment Centre will be ...
Depa picked for Burj.(UAE)(Depa Hotel Interiors)(Brief article)
Oct 06, 2006 ... Dubai-based Depa Hotel Interiors has won the estimated AED 600 million ($164 million) subcontract to fit out 899 serviced and residential apartments on the Burj Dubai project, scheduled for completion by ...
New Wave managers.(PEOPLE)(The Wave resort)(Brief article)
Oct 06, 2006 ... Nick Smith and Abdullah Khamis al-Shidi have been appointed chief executive officer and chief financial officer respectively of Oman's multibillion-dollar The Wave resort. Smith ...
Makkah-Medina rail prequals out; high-speed rail link gets under way.(SAUDI ARABIA)(contracts)(Brief article)
Oct 06, 2006 ... The Saudi Railways Organisation (SRO) has invited applications for prequalification on its multibillion-dollar Makkah-Medina passenger rail link (MMRL). The project primarily aims to ease the inflow of pilgrims arriving in Jeddah and travelling on to the holy cities. Companies ...
New line for Dubai metro.(UAE)(Roads and Transport Authority)(Brief article)
Oct 06, 2006 ... Dubai's Roads & Transport Authority (RTA) has invited consultants to bid by 27 November for a new line on the Dubai metro scheme. The proposed 49-kilometre purple line will run between Dubai World Central (Jebel Ali Airport) and Dubai International airport. The line, which will ...
Aqaba marine services awarded.(JORDAN)(Jordan National Shipping Lines)(Brief article)
Oct 06, 2006 ... A consortium of Sharjah-based Lamnalco Group and Jordan National Shipping Lines has been awarded the 15-year contract to rehabilitate, equip, finance, operate and transfer the marine service assets at the port of Aqaba. The consortium will forma joint venture with Aqaba Development ...
Bids in for Abu Dhabi transport study.(UAE)(Brief article)
Oct 06, 2006 ... Abu Dhabi's Municipalities & Agriculture Department has received bids for an integrated public transport masterplan. The 15-20-month study covers the design of a public transport network for Abu Dhabi island and surrounding areas and the preliminary design of a proposed mass ...
New chief at Gulf Air.(REGIONAL)(Brief article)
Oct 06, 2006 ... Ahmed al-Hammadi has taken over from outgoing president and chief executive officer James Hogan at Gulf Air ....