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Germany Grants Jordan €99Mn In Financial Assistance
...ft loans and €9mn in grants, will be spent mainly on the water sector, the main focus of German-Jordanian development cooperation for 2011-12, which aims to improve water supply, reduce water loss and build the sewage system. Also the funds will support a number of other projects, including the co...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
IMF: Saudi Economy Withstands Financial Crisis, But Challenges Remain
...pply shortfalls from other oil producing countries. Fiscal and external balances are forecast to strengthen further in the short term, while recently published leading indicators suggest a likely acceleration in private sector activity in early 2011, with overall real GDP growth projected to hit 6....
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
EU Approves €110Mn Financial Assistance For Tunisia
...to Tunisia following the January 2011 revolution, aimed at supporting the political and economic transition, an EU statement said. The first program, with a €90mn budget, supports the economic recovery measures recently adopted by the Tunisian government. These measures will also be supported by...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
DEWA Announces 8.6% Increase In 1H11 Income On Increased Sales
...les in recent months. In a statement released on the Nasdaq Dubai bourse, DEWA posted an income figure of Dh1.63bn ($444mn) for the six months to 31 June 2011, up from last year’s corresponding figure of Dh1.5bn ($408mn). While revenues were also seen to jump to Dh6.6bn ($1.8bn) – around 43% up fr...
Volume: 54Issue: 35Published at Mon, 29 Aug 2011 -
Algerian Finance Minister Says Foreign Investments Are Safe
...the 2011 budget, and projected growth next year at 4.7%, with an inflation rate of 4%. He also said that measures will be taken to activate the stock market so that it would become a domestic source of funding projects....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
BAPETCO Reports Western Desert Gas/Condensate Discovery
...d developed 22 wells that produce 14,000 b/d of crude oil and 160mn cfd of gas. This has brought the company’s output to more than 40,000 b/d of crude and 435mn cfd of gas, he said. During 2011-12, BAPETCO plans to drill 44 exploration and development wells....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Iran’s Inflation Rate Rises To 16.3% In July
...ded that the rate would rise in 2011-12, but will come down in 2012-13 if the authorities implement tight credit and fiscal policies (MEES, 15 August). But analysts familiar with Iran are not convinced of this latest upbeat assessment of the economy by the IMF. The announcement of the July in...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Jordan’s Subsidies For 2011 Estimated At $2Bn
...Middle East Economic Survey VOL. LIV No 34 22-Aug-2011 Jordan Jordan’s Subsidies For 2011 Estimated At $2Bn The cost of subsidizing a number of products in Jordan this current year is...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Kuwaiti Amir Says Misuse Of Surplus Has Led To Imbalances
...equent political disputes in parliament. Kuwait in June approved a 2011-12 budget projecting a 38.3% increase in revenue to KD13.445bn ($49.343bn) and a 19.2% hike in expenditure to KD19.435bn ($71.326bn), with a resulting deficit of KD7.334bn ($26.916bn). In 2010-11 Kuwait realized a surplus of KD...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Syria Announces New Gas Discovery At Qara
...7,250 b/d in the first half of 2011, as well as more gas reserves. Its gas output in the same period stood at 30.29mn cmd, but the country needs more gas for domestic consumption....
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Dubai’s ICD To Repay $4Bn Facility On Maturity
...bai, planned to repay in full the $4bn, three-year tranche of the $6bn conventional and Islamic facilities signed on 21 August 2008, when it fell due on 21 August 2011, according to an 8 August statement by the Dubai Government Media Office. The three-year tranche, to be settled on 21 August 2011, co...
Volume: 54Issue: 34Published at Mon, 22 Aug 2011 -
Apache Announces Two Discoveries In Egypt’s Faghur Basin
...rassic Safa formation. “The latest discoveries were developed through evaluation of modern 3D seismic surveys acquired over the southwestern part of the Khalda Offset Concession and the southern part of the West Kalabsha Concession,” Apache said in a statement, adding: “In 2011, Apache has dr...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
IMF Sees Positive Growth Outlook For Iranian Economy
....4% in 2009-09 to 12.4% in 2010-11 and has managed to contain inflation in the aftermath of the subsidy reform. It added that the consumer price inflation had increased from 10.1% in December 2010 to 14.2% in May 2011. [However this rate has since risen to 15.4% in the month ending on 21 June 2011...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Israel Raises Electricity Consumer Costs As A Result Of Egyptian Gas Supply Cuts
...low it to save NIS1bn ($283mn) through the end of 2011. The directive calls for the tax cut to be implemented retroactively to February of this year. The ministry said it was not possible to prevent the hike in electricity rates due to the rising price of fuel on the international markets, in...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
Jordan Announces Price Increases For Some Petroleum Products
...st will apply until 6 September. Product Prices Effective 3 August 2011 (Fils/Liter, Unless Otherwise Stated) 2011 2010 Product 3 Aug 1 Jun 2 May 1 Apr 4 Mar 28 Ja...
Volume: 54Issue: 33Published at Mon, 15 Aug 2011 -
IFC Approves $250Mn Investment Package For OCI
...ypt and the wider region. EFC aims to increase its production significantly by 2012. IFC invested $1.5bn in the Middle East and North Africa in the 2011 fiscal year. It also helped mobilize funds from other international financial institutions (MEES, 13 June). IFC expects to continue to increase it...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
IRGC General Approved By Majlis As Iran’s New Petroleum Minister
...rd to win over a bureaucracy that is extremely cautious regarding both the IRGC and Khatam al-Anbiya. And domestic issues will not be his only problem: the new oil minister will take over as President of OPEC during Iran’s 12-month tenure, which expires in December 2011; but he is among the Ir...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Jordan Expects To Continue Importing Egyptian Gas, But Is ‘Studying All Options’
...cessary logistical arrangements for the fuel oil, Dr Tuqan noted. The government is also considering the import of LNG via a terminal in 'Aqaba. For this purpose it is soliciting proposals for an LNG regasification terminal at the Red Sea Port from interested firms, and set a deadline for 13 July 2011 as...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
Syrian Oil Production Averaged 387,250 B/D In First Half 2011
...Middle East Economic Survey VOL. LIV No 32 8-Aug-2011 syria Syrian Oil Production Averaged 387,250 B/D In First Half 2011 Syria’s crude oil production in the first half of 2011 totaled 70.092mn barrels, or 387,250 b/d, a slight increase from 386,268 b/d in the corresponding pe...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011 -
S&P Revises Tunisia Outlook To Negative, Sees Downside Risks Persisting
...onomic outlook is clouded by uncertainties,” S&P said. This was attributed partly to the fact that the caretaker government does not currently have the mandate to either articulate or implement mid-term policies. The agency noted that its baseline scenario predicts growth of around 1% of GDP in 2011, st...
Volume: 54Issue: 32Published at Mon, 08 Aug 2011