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Moody’s Says Egypt Government’s Resignation Offer Is “Credit Negative”
...dex declined 2.3% on 10 October to its lowest level since March 2009. Meanwhile, GDP contracted 4.2% in 1Q11 and foreign direct investment (FDI) “completely collapsed” in 1H11, recording a small net outflow. The IMF sees the Egyptian economy growing at an “anemic” 1-2% a year in 2011 and 2012. “A ch...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Preliminary Estimate Of Arab Spring Cost Put At $56Bn
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 REGIONAL Preliminary Estimate Of Arab Spring Cost Put At $56Bn The macro-economic cost if the Arab Spring which saw the eruption at the beginning of 2011 of revolutions in Tunisia, Egypt and Libya in North Africa, Syria in th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Morocco Top ‘Doing Business’ Reformer As Saudi Arabia Leads MENA Rankings
...om 136. But the report only covers regulations measured from June 2010 through May 2011. The report finds that six of the MENA region’s 18 business regulatory reforms made it easier to start a business. For example, Jordan reduced the minimum capital for company start-ups, and Oman’s new one-st...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 SAUDI ARABIA Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production Riyadh-based Jadwa Investment has raised its projection for 2011 Saudi real GDP growth to 7.1% from 5.6%, as a result of an upward re...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 UAE Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment Abu Dhabi’s International Petroleum Investment Company (IPIC) saw profits for the first half of 2011 nearly triple as the government-ba...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Dragon Oil Expects To Miss 2010 Production Target Because Of Bottlenecks
...e trunkline and expanded CPF will be fully operational with the CPF set up to handle up to 100,000 b/d of liquids and up to 220mn cfd of gas. The outlook for 2011-13 envisages the drilling of up to 40 wells, of which five will be appraisal wells. We expect two new platforms, the Dzheitune (La...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Karachaganak Partners To Be Fined For Tax Violations
...at it sees as exceeding production targets, and recently announced that it would double its crude oil export duty to $40mn/ton beginning 1 January 2011 (MEES, 6 September)....
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Mirkazemi Upbeat On Prospects For Iranian Gasoline Exports
...the sidelines of a ceremony on 18 October to mark success “in producing gasoline by Iranian petrochemical plants” that the country’s gasoline production capacity will rise by 30mn liters/day (188,700 b/d) before the end of the current Iranian year (21 March 2010 – 20 March 2011). He said this wo...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
BSF Sees Saudi Business Confidence Recuperating In 4Q10
...s a vast improvement on 46.5% in 3Q10. While responses were weaker than those posted in 2Q10, they supported expectations of a “turnaround in economic growth,” with GDP forecasted to grow at a rate of 3.8% in 2010 and 4.2% in 2011, up from 0.6% in 2009. Less volatility in equity markets in 3Q10 co...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
South Sudan Announces Plans For Transitional Government
...ansitional government and draft its own constitution if its residents vote to secede in a referendum scheduled for 9 January 2011. In a statement released by the oil-rich region’s ruling party, the Sudan People’s Liberation Movement (SPLM), the call for a constitutional convention would be made within a mo...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Lafarge Starts Up Syria’s First Private Cement Plant
...s started operations at a local plant that is expected to attain its annual full capacity of 3mn tons/year in early 2011. The new plant is expected to meet Syria’s shortfall in cement production and is the largest private sector investment in the country to date. Last year, Lafarge Cement Syria ob...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Turkey Waives Right To Export Azerbaijani Gas
...ssia, Iran, and Azerbaijan and LNG contracts with Algeria and Nigeria. The country’s natural gas consumption is expected to reach 36-37 bcm/y during 2010, and 40 bcm/y in 2011, Botas Chief Executive Fazil Senel, told Reuters on 14 October. Turkey’s Natural Gas Sales And Purchase Ag...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
OMV In Talks With Dogan Holding For Petrol Ofisi Shares
...en made in Cyprus or its surrounding waters, although there are reported to be promising prospects in the Greek-Cypriot offshore Exclusive Economic Zone (EEZ). ExxonMobil is to take delivery of Transocean’s Deepwater Champion drillship in the first quarter of 2011 once construction is co...
Volume: 53Issue: 43Published at Mon, 25 Oct 2010 -
Sonatrach Shortlists Firms For Tiaret And Algiers Refinery Projects
...ing on-stream in 2011, but which now looks unlikely to be completed before 2014 at the earliest. Sonatrach’s head of downstream 'Abd al-Hafid Feghouli told MEES in November last year that the company expected to see the project’s total costs reduced from $6bn to $5bn, due to the fall in co...
Volume: 52Issue: 43Published at Mon, 26 Oct 2009 -
Construction Of Burgas-Alexandroupolis Oil Pipeline Delayed By A Year
...oil from Russia. The pipeline is expected to become operational by late 2011, with construction estimated to cost €1bn (MEES, 17 March)....
Volume: 51Issue: 43Published at Mon, 27 Oct 2008 -
Peace Deal Under Threat As SPLM Withdraws From Sudan’s Coalition Government
...jected the ABC’s report as “final and binding” because of its demographic implications. Local elections are due to take place in 2009. These will directly influence the outcome of the referendum on unity, scheduled for 2011, and by extension, how much of the disputed Abyei region’s oil wealth may be...
Volume: 50Issue: 43Published at Mon, 22 Oct 2007