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Egypt Lines Up Bidding For Dairut IPP
...dding requirements to the 10 companies it has pre-qualified for a tender to build its first thermal power plant, according to reports. The companies, short-listed from a group of 19 that applied to bid, are expected to submit their final offers in early 2011. The contract for the independent power pr...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
CBI Statistics Show 19.7% Fall In Oil And Gas Exports Revenue In 2009-10
...an will have to pay $11.621bn in 2010-11, to be followed by subsequent annual payments as per the table below: CBI Debt Repayment Schedule Year Debt Repayment ($Bn) 1389 (2010-11) 11.621 1390 (2011-12) 2.274 1391 (20...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
Jordanian Government Outlines 2011-13 Development Priorities
...Middle East Economic Survey VOL. LIII No 47 22-Nov-2010 JORDAN Jordanian Government Outlines 2011-13 Development Priorities Jordan’s Ministry of Planning and International Co...
Volume: 53Issue: 47Published at Tue, 23 Nov 2010 -
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 -
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 -
Saudi Aramco Attracts 28 Banks To $4Bn Credit Facility
...e $1bn is a 364-day dollar-denominated facility (which any bank can cancel at 30 days notice). The banks signing up to the dollar tranche of the $3bn facility are also participants in the 364-day facility. The latest deal, which replaces the last revolving credit facility expiring in 2011, re...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
SEC Invites Bids For Qurayah Power Project
...e company, adding that the remaining 50% will be owned by SEC. The project company will sell its power output to SEC under a 20-year power purchase agreement, it added. Bids are due to be submitted to SEC on 28 February 2011. The project should be completed and should achieve full commercial op...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
Norway’s Statkraft To Build Kargi Hydropower Plant
...dget for exploration in the Black Sea for 2011 will exceed $1bn. Turkey has agreements with Statoil, Chevron, Petrobras and ExxonMobil covering offshore Black Sea exploration projects (MEES, 25 October, 27 September). TransAtlantic Petroleum on 10 November announced that it has entered an...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010 -
UAE 2011 Federal Budget Projected To Fall
...Middle East Economic Survey VOL. LIII No 46 15-Nov-2010 UAE UAE 2011 Federal Budget Projected To Fall The UAE cabinet on 7 November approved a three-year federal budget of Dh122bn ($33...
Volume: 53Issue: 46Published at Mon, 15 Nov 2010