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EU To Discuss Turkish Position On Cyprus Offshore At December Summit
...ly aircraft carrier to the east Mediterranean in November. Turkey’s Stalled EU Membership Turkey is an applicant for EU membership but has made little progress since accession talks opened in October 2005. In its Key Findings Of The 2011 Progress Report On Turkey, released on 12 October, the Eu...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Crude Prices Gain On Better US Data, European Move To Address Debt Crisis
...ve averaged just under 18.8mn b/d, down by 0.7% compared to the similar period last year. The average world crude oil price on 21 October was $108.84/B, $2.51/B more than last week’s price and $29.49/B above a year ago. Settlement Prices For Benchmark Crudes ($/B) Date 2011 Ny...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
CGES: Oil Prices Stay ‘Stubbornly High’ Despite Sluggish Demand Growth
...e unexpectedly high rates of oil demand growth in 3Q and 4Q10,” CGES said, while OPEC failed to replace the oil lost as a result of the Libyan unrest quickly enough. And in addition to this, the report highlights that non-OPEC oil producers have been faced by a range of problems in 2011 which ha...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Algerian Draft Budget Projects Lower Spending In 2012
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 ALGERIA Algerian Draft Budget Projects Lower Spending In 2012 The Algerian draft budget for 2012 projects a 10.2% fall in expenditure compared to the 2011 supplementary budget which had raised total expenditure from the or...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Dragon Oil To Hike Production 50% By 2015
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 CASPIAN Dragon Oil To Hike Production 50% By 2015 Dragon Oil announced on 24 October that it will produce 70,000 b/d of crude by the end of 2011. It then plans to invest another $1bn over a four year period in order to re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Flow Of Egyptian Gas To Israel Resumes, New Price Struck With Jordan
...th imports having averaged 240mn cfd prior to the start of the disruptions. According to the BP Statistical Review of World Energy 2011, Jordan imported from Egypt in 2010 a total of 2.52 bcm of gas. The agreement with Jordan is retroactive to January 2011 and gives Egypt the right to reconsider th...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Egypt Restarts Loan Discussions With IMF, Waits On Further Arab Aid
...cal debts would negatively affect both the country’s balance of payments and its budget deficit. Egypt’s deficit is now forecast to hit 8.6% of GDP in fiscal 2011-12, exceeding pre-revolution estimates. That said however, the IMF is yet to receive an official request from Egypt. “We have not re...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
New Government In Jordan
...Jordan. Mr Bakhit, who was appointed Prime Minister in late January 2011, had to resign after a wave of street protests against his government. Cabinet changing for King 'Abd Allah of Jordan is a frequent phenomenon, which he resorts to when public pressure from political groups in society intensifies. ...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
US Grants Jordan $300Mn In Aid
...rvices and financial sectors aimed at creating job opportunities and introducing economic reforms. Jordan has projected a budget deficit of JD1.16bn ($1.63bn) for 2011 and any foreign aid it receives during the year will be necessary to lower this deficit (MEES, 5 September). ...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Lebanese Finance Minister Sees Debt Rising To $60Bn
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 Lebanon Lebanese Finance Minister Sees Debt Rising To $60Bn Lebanese Minister of Finance Muhammad Safadi has warned that the country’s public debt would grow to $60bn by the end of 2011, up from $52.6bn at the end of June, bu...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Omani Public Spending To Rise Yet Again In 2012
...owth in the region of about 10% for 2011,” he said. Latest official figures released by the Omani Ministry of National Economy meanwhile have revealed an increase of around 77% in Oman’s fiscal surplus in the first eight months of this year relative to last year’s corresponding period. Driven bo...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
MENA Facing Unparalleled Uncertainty, Says IMF
...sult of continued high energy prices. Real GDP growth is expected to pick up in 2011 – to almost 5% – then moderate to about 4% in 2012, said the IMF. For the GCC, growth is projected at more than 7% in 2011. The countries are providing continued support to the non-oil sector, which is projected to gr...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Syria Sees Budget Expenditure Rising Steeply In 2012
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 syria Syria Sees Budget Expenditure Rising Steeply In 2012 The Syrian government on 20 October approved the draft budget for 2012, projecting a 58.8% increase in expenditure to S£1,326bn ($26.8bn) from S£835bn ($16.9bn) in 2011...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Moody’s Upgrades DEWA Rating On Revenue Climb
...WA [will] monitor the fluctuating fuel prices continuously, and the increase or decrease in the prices would be reflected in monthly bills. These two tariff modifications have brought and will continue to bring incremental revenues to DEWA,” Mr Nowak said. As of end-June 2011, the company reported co...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Political Comment (31 October 2011)
...Middle East Economic Survey VOL. LIV No 44 31-Oct-2011 Political Comment (31 October 2011) The Arab world's first post-Spring democratic election has produced an Islamist victor in Tunisia. Saudi Crown Prince Sultan has died and been succeeded by Interior Minister Prince Nayif. Th...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011 -
Relations Between Iran And Syria And The Impact Of The Syrian Crisis
...an manages the Syrian crisis?’, 23 July 2011: (http://www.alarabiya.net/views/2011/07/23/158958.html). 2. Iraq was forced to build new pipeline in Turkish territory to the Mediterranean to avoid dependence on Syria. Turkey’s position was strengthened by the controversy between Arabs. 3. Sy...
Volume: 54Issue: 44Published at Mon, 31 Oct 2011