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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 -
ESAI Sees Russia Changing Crude Export Strategy
...port Russia Comes of Age: Restructured Exports Strengthen Russia’s Hand in Oil Markets, published in mid-October, ESAI said: “In late 2011, Russia is adding 700,000 b/d of export capacity to the Baltic Sea, where it already exports 1.5mn b/d of oil. At the end of 2012, the capacity of the ESPO pi...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
China’s Crude Oil Imports Decline During September
...e August total of 21.04mn b/d and 12.2% below the September 2010 import total of 23.29mn tons. During the January-September 2011 period, China has imported a total of 186.77mn tons of crude oil. Total crude imports during 2010 amounted to 239.31mn tons (4.79mn b/d). China Crude Oil Imports 20...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Crude Oil Formulas/Posted Prices
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 Crude Oil Formulas/Posted Prices ($/B) Iraq (+/- Adjustment Factor; $/B) 2011 2010 Nov Oct Sep Aug Jul Jun May Apr Ma...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Moody’s Says Egypt Government’s Resignation Offer Is “Credit Negative”
...dex declined 2.3% on 10 October to its lowest level since March 2009. Meanwhile, GDP contracted 4.2% in 1Q11 and foreign direct investment (FDI) “completely collapsed” in 1H11, recording a small net outflow. The IMF sees the Egyptian economy growing at an “anemic” 1-2% a year in 2011 and 2012. “A ch...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Preliminary Estimate Of Arab Spring Cost Put At $56Bn
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 REGIONAL Preliminary Estimate Of Arab Spring Cost Put At $56Bn The macro-economic cost if the Arab Spring which saw the eruption at the beginning of 2011 of revolutions in Tunisia, Egypt and Libya in North Africa, Syria in th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Morocco Top ‘Doing Business’ Reformer As Saudi Arabia Leads MENA Rankings
...om 136. But the report only covers regulations measured from June 2010 through May 2011. The report finds that six of the MENA region’s 18 business regulatory reforms made it easier to start a business. For example, Jordan reduced the minimum capital for company start-ups, and Oman’s new one-st...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 SAUDI ARABIA Jadwa Raises Saudi GDP Growth Forecast To 7.1% On Higher Oil Production Riyadh-based Jadwa Investment has raised its projection for 2011 Saudi real GDP growth to 7.1% from 5.6%, as a result of an upward re...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 UAE Abu Dhabi’s IPIC Posts Strong 1H11 Results, Eyes $6.5Bn Gulf Refinery Investment Abu Dhabi’s International Petroleum Investment Company (IPIC) saw profits for the first half of 2011 nearly triple as the government-ba...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Political Comment (24 October 2011)
...Middle East Economic Survey VOL. LIV No 43 24-Oct-2011 Political Comment (24 October 2011) The death of Mu'ammar al-Qadhafi brings the first stage of Libya's rebirth to an end. The international Quartet is to meet separately with the Israelis and Palestinians in an attempt to...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Hydrocarbon Reserves Of Iraq
...ptember 2011, remains a dream for a while due to its cost. The main target here is the equivalent of the Khuff Formation that is gas prone in the Gulf area. New exploration in a fifth round or by OEC looks limited given the absence of strategy. Following a request from the director-general of OEC to th...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
The Global Financial Crisis Discloses Dysfunctional Distribution Of Income In Developed Economies
...e agenda of the European Council of Economic and Financial Affairs since March 2011 for imposition of penalties and close oversight, but the damage is already in the financial system and in the confidence of European citizens across member states. Before governments, central banks, po...
Volume: 54Issue: 43Published at Mon, 24 Oct 2011 -
Satorp Paves Way For Saudi Project Sukuk Issuers With $1Bn Offering
...09. There were expectations that 2011 would be even better, but unless there is a sudden change and a flurry of paper comes to market in the remaining few months, this year is going to see a marked fall from 2010. Last year the issuance of notes and sukuk was up on 2009’s levels to about $32-34bn (ME...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Risk At Center Of Oil Industry Outlook
...veloping countries in the other. It’s a very mixed picture.” He said the OPEC Secretariat had received plans for around 120 development projects from members that could be started in 2011-15: “But there is lots of uncertainty. The most important point is that our countries have the reserves. And if th...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
Turkey Allows Russian Gas Import Deal To Expire In Move To Open Up Market
....0 2008 37,793.0 36,024.00 443.0 2009 33,619.0 32,135.00 721.0 2010 32,466.0 31,462.00 660.0 2011* 25,045.0 24,583.00 475.0 * As of August 2011. Source: Botas. Tu...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011 -
OPEC Revises Down 2H11 Demand Projection
...Middle East Economic Survey VOL. LIV No 42 17-Oct-2011 OPEC Revises Down 2H11 Demand Projection OPEC has revised down projections for global demand growth in 2011 by 180,000 b/d and shaved off its projection for demand growth next year. But the headline annual figures mask a ma...
Volume: 54Issue: 42Published at Mon, 17 Oct 2011