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Lebanon’s $725Mn Eurobond Three Times Oversubscribed
...cond week of November, was three times oversubscribed, the Ministry of Finance announced in a statement on 12 November. The ministry said that the issue, arranged by Bank of Beirut and Credit Suisse, consisted of two tranches – $500mn maturing in 2018 with a coupon of 5.15% and $225mn maturing in 2011...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Healthier Economy And Upcoming Mortgage Law Sustain Saudi Real Estate Sector
...rst quarter of 2011 has energized demand for land and finished properties as buyers hope the regulatory framework will unleash pent-up demand in the coming years,” said the report. Saudi Arabia’s property sector has exhibited much stronger price resilience to the global and regional economic do...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Syria’s Development Plan Targets 5.7% GDP Growth Annually
...velopment plan (2011-15) which is intended among others to focus on social development, boost investment in human capital, support health and education and the social safety net, improve the livelihood of people, and create job opportunities. It is designed to complete the process of economic reforms un...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Gulfsands Awards Khurbet East Processing Plant Contract To Saipem
...e Massive formation (MEES, 1 November). Meanwhile, Gulfsands says that a 3D seismic acquisition covering 1,025 sq km just west of the Greater Khurbet East area is 80% complete, with delivery of the final processed data earmarked for the first quarter of 2011....
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
DEWA Gears Up For First IWPP
...2011. It is expected to be the inaugural project in a series of IWPPs along the lines of the power and water development seen in Abu Dhabi, which has a well-established program. The first IWPP will have a capacity of 1.5gw (plus or minus 100mw) and produce 60-120mn gallons/day of desalinated wa...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Moody’s Upgrades DP World Rating Outlook To Positive
...uld continue strengthening alongside the company’s recent public commitments to prioritize deleveraging; DP World’s intention to refinance the $3bn syndicated revolving credit facility maturing in October 2012, over 2011; and a debt restructuring agreement for its direct parent company, Dubai Wo...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Political Comment (22 November 2010)
...certain whether the deal would still be on the table when the security cabinet holds its next meeting on 24 November. In the circumstances, State Department spokesman P J Crowley was probably guilty of understatement when he suggested on 15 November that the original deadline of August 2011 for re...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Oman To Lift Crude Output 80,000 b/d By End-2012
...dependent Occidental Petroleum aims to increase production of 10-12° API crude by 46,000 b/d from Mukhaizna field, ramping up next year and into 2012. In the third quarter of 2011, a consortium led by Lebanese independent CC Energy Development (CCED) expects to bring on stream 30,000 b/d of 30° API crude fr...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
GCC Keeps Wary Eye On ‘Currency War’
...the end of 2011, said John Sfakianakis, Chief Economist at Banque Saudi Fransi in Credit Agricole’s 8 November Emerging Market Focus (BSF is part of the Credit Agricole Group). Inflation in the kingdom is now the region’s steepest, the report said, but pointed out that this results more fr...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
WTI Price Moves Into Upper $80s/B Range
...ency forecast revised upward its global oil demand growth forecast for 2010 by 200,000 b/d to 2.3mn b/d. For its part, OPEC increased its estimate for growth in demand for 2010 by 190,000 b/d to 85.78mn b/d and by 310,000 b/d for 2011 to 86.95mn b/d. In its Weekly Petroleum Status Report, re...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
OPEC Sees Weaker 4Q10 Demand For Its Crude, But Revises Global Projections Upwards
...ows. From the fourth quarter to the first quarter next year, the call on OPEC is set to fall by 510,000 b/d, forecasts this month’s MOMR, fairly close to the 500,000 b/d fall projected last month. While optimism regarding the outlook for world economic activity in 2011 is growing somewhat, the re...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
EIA Boosts Oil Demand Forecasts For 2010 And 2011
...Middle East Economic Survey VOL. LIII No 46 15-Nov-2010 EIA Boosts Oil Demand Forecasts For 2010 And 2011 The Energy Information Administration (EIA) of the US Department of Energy ha...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Crude Oil Formulas/Posted Prices ($/B)
...45 * Iran’s Soroush and Norouz crudes are discounted against Iranian Heavy crude. Yemen (Dated Brent + / - Adjustment Factor; $/B) 2011 2010 Jan Dec Nov Oct Sep Aug Ju...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Bulgaria To Sign South Stream Agreement, ‘Deeply Worried’ Over Nabucco Progress
...sed in Sofia. The deal is expected to be signed during Russian Prime Minister Vladimir Putin’s planned visit to Sofia on 13 November. The two sides have also agreed to complete the pre-feasibility study for the project by February 2011, although Bulgaria may need more than six months to complete th...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
VTTI Awards Oil Terminal Construction Contract To J&P
...14mn barrels) capacity tank farm at Vasiliko on the southern coast of Cyprus. Work is to begin in January 2011 with the storage facility and jetty due for completion at end-2012. Officials say the company originally envisaged an investment of €100mn but now speak of expanding the storage capacity of th...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Groundstar Transfer Of Kom Ombo Interest Approved
...80% interest for Aegean plus operatorship of the block. The Canadian company will retain a 10% carried interest through the 2011-14 exploration phase, the result of an agreement which saw the purchase price of Aegean’s interest drop from $8mn to $5mn. The two companies revised the terms of th...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Jordan’s 2011 Budget Seeks To Contain Deficit
...Middle East Economic Survey VOL. LIII No 46 15-Nov-2010 JORDAN Jordan’s 2011 Budget Seeks To Contain Deficit The Jordanian government on 6 November unveiled its 2011 budget, which seeks to cap the deficit at the 2010 level and at the same time to press on with economic re...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
IMF Sees Libya’s Economy Strengthening Over Medium Term
...Prel Projected 2006 2007 2008 2009 2010 2011 (Annual % change, unless otherwise indicated) National Income and Prices Real GDP 5....
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
IMF: Strengthening Of GCC Financial Systems Needed
...naging Director John Lipsky said on 6 November after a meeting with regional financial officials. Comfortable fiscal and external positions should allow most regional economies to support continued stimulus into 2011 if necessary, he noted: “However, in some countries we are seeing early signs of a pi...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Saudi Arabia, Tunisia and Egypt Move Up In World Bank/IFC ‘Doing Business’ Ranking
...rporate disclosure and related-party transactions. MENA Ease Of Doing Business Rankings World Ranking World Ranking World Ranking World Ranking Economy 2011 2010 20...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010