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IMF Approves Disbursement Of $471Mn To Iraq
...stitutions. Inflation has remained subdued and the exchange rate has remained stable. The 2011 budget aims to accelerate investment in public services and infrastructure, and accommodates higher social safety net provisions to support those in need. Iraq’s rehabilitation needs remain large and the higher in...
Volume: 54Issue: 13Published at Mon, 28 Mar 2011 -
Sheshinski Hydrocarbon Tax Proposal Passes Knesset Finance Committee
...id, according to Globes Online. Mr Yuval also told the committee that during 2011 he would submit a bill to the Knesset calling for the establishment of a sovereign investment fund, in which government revenues acquired as a result of the legislation would be deposited. He said that a co...
Volume: 54Issue: 13Published at Mon, 28 Mar 2011 -
Lebanon Hires Consultants To Prepare Tenders For Offshore Licensing
...ll handle marketing and promotion of the tender process. The ministry had earlier said that the first licensing round for offshore gas exploration would be launched in November 2011, with exploration expected to begin in November 2012. Last August the Lebanese parliament approved an oil and gas la...
Volume: 54Issue: 13Published at Mon, 28 Mar 2011 -
Kazakh Energy Strategy Calls For 12% Increase In Gas Production
...t increase of 12% in Kazakh gas production in 2011 compared to 2010. According to the plan Kazakh gas production in 2011 is intended to rise to 42bcm from 37.4 bcm in 2010, whereas exports are projected to remain stable at 9.2 bcm in 2011compared to 9.1 bcm last year and 7 bcm in 2009. All Ka...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Socar Aims To Sign Shah Deniz 2 Transit Agreement By End-2011
...working on the details of the purchase and transit agreement for Shah Deniz Phase 2 gas volumes that will be sold to Botas for transit via the Turkish gas grid to Europe. Mr Abdullayev said that the contracts will be signed by the end of 2011. This would be after the tender for allocations of Sh...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Iran Raises VAT Rate To 4% In New Year
...ganization for VAT Mohammad-Qasim Panahi has said. The official noted that in accordance with the five-year development plan 2011-2015 the rate will rise by 1% every year so as to reach 8% by the end of the plan. He added that at the current VAT rate of 3% the revenue collected is split equally between to...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
NIORDC Outlines Plan For Gasoline Exports
...thority to export up to 1bn liters of gasoline, fuel oil and other petroleum products in the next Iranian year (21 March 2011 – 20 March 2012). He said that a combination of a decrease in domestic gasoline demand to 52-53mn liters/day and expanding production capacity would create a steady surplus ex...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Kuwaiti Inflation Expected To Reach 5-6% In 2011
...Middle East Economic Survey VOL. LIV No 12 21-Mar-2011 KUWAIT Kuwaiti Inflation Expected To Reach 5-6% In 2011 The head of the Central Bank of Kuwait (CBK) said on 12 March that the country is expected to post inflation figures of 5-6% this year, while interest rates remain at...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
IMF Praises Qatar’s Post-Crisis Economic Performance
....4%, low non-performing loans ratio of 1.9%, and a comfortable provisioning coverage of 85% at the end of August 2010.” The report suggested also that continued government investment would be necessary to keep growth high beyond 2011 as the “self-imposed moratorium on increasing gas production af...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Mirkazemi Says Iranian Gas Deliveries To Syria Could Start End-2011
...peline to the Syrian border by the end of 2011. This would then allow for the start of the delivery of Iranian gas to Syria, which currently produces 27.5mn cmd and imports 1.86mn cmd of Egyptian gas (prior to the interruption of gas supplies via AGP on 5 February). Syria needs an additional 20-40mn cm...
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
Syrian Companies Issue Tenders For Pipeline Projects
...rries heavy crude oil from northeastern fields in the country to the Tartous Port terminal. The work covers the replacement of some sections of the main pipeline and the eighth loop. The deadline for the first tender is 29 May 2011 and for the second 22 May 2011....
Volume: 54Issue: 12Published at Mon, 21 Mar 2011 -
CBB Treasury Bills Oversubscribed Despite Bahraini Unrest
...rrying a maturity of 182 days, this quarter’s BD50mn ($133mn) issue carrying a maturity of 12 months and last week’s BD25mn ($66mn) issue carrying a maturity of 91 days – were oversubscribed by 250%, 211% and 282% respectively. The issue date of the monthly bills is 13 March 2011 and the maturity date is...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Turkmen Energy Minister Predicts Hike In Gas Reserves
...Middle East Economic Survey VOL. LIV No 11 14-Mar-2011 CASPIAN Turkmen Energy Minister Predicts Hike In Gas Reserves Turkmenistan’s oil and gas minister Bayramgeldi Nedirov told delegates at the 2011 Turkmenistan oil and gas road show in Singapore on 4 March that the co...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Iran Announces Plan To Issue Islamic Bonds
...e government is set to issue sukuk in the coming Iranian year (21 March 2011 – 20 March 2012) for the National Iranian Oil Refining and Distribution Company (NIORDC), the National Iranian Gas Company (NIGC), the National Iranian Oil Company (NIOC) and the National Petrochemical Company (NPC). In...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Iran’s Inflation Rate Rises To 11.6% In February
...e reduction in subsidies of IR200 trillion ($19bn), rising to IR600 trillion ($58bn) in 2011-12. According to the draft budget bill for 2011-12, 50% of the increased revenue will be paid back in the form of cash handouts to people, 30% will go to the manufacturing industry and 20% will be kept by...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Jordan Freezes Some Petroleum Product Prices Until End-March
...ices. Mr Malaqi added that the government has instructed the Ministry of Finance to allocate a sum of around JD30mn ($42.3mn) to cover the subsidies in March. Product Prices Effective 4 March 2011 (Fils/Liter, Unless Otherwise Stated) 2011 20...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Moody’s Sees ‘Moderate Pressure’ On GCC Corporates In 2011
...Middle East Economic Survey VOL. LIV No 11 14-Mar-2011 REGIONAL Moody’s Sees ‘Moderate Pressure’ On GCC Corporates In 2011 The downward ratings trend among GCC corporates in 2009-10 has abated, but moderate pressure is likely to continue in 2011, said Moody’s Investors Se...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
UAE Economic Recovery Gaining Momentum, IMF Says
...e IMF said at the conclusion of its mission to conduct discussions for Article IV consultation. Whereas overall growth in the world’s third largest oil exporter is projected to remain unchanged at 3.25% in 2011, non-oil GDP is forecast to grow from the 2% seen in 2010 to 3.25% this year, re...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
UAE Growth Rate Expected At 3.3% In 2011, Says Samba
...Middle East Economic Survey VOL. LIV No 11 14-Mar-2011 UAE UAE Growth Rate Expected At 3.3% In 2011, Says Samba The UAE economy underwent a modest recovery in 2010 with overall GDP growth estimated at 1.5%, and growth is expected to pick up to 3.3% this year, according to Sa...
Volume: 54Issue: 11Published at Mon, 14 Mar 2011 -
Nazarbayev To Offer KMG EP Shares To Kazakh Nationals
...d serve as an instrument for investment and savings.” On 11 February Mr Nazarbayev told his government to prepare IPOs offerings by the end of 2011 not only for KMG – 5% of equity in its exploration and production subsidiary KMG EP is to be floated on the Astana Stock Exchange in 2011, and is ex...
Volume: 54Issue: 10Published at Mon, 07 Mar 2011