Main headlines

May 28, 2013

Taqa has completed the feasibility study for the power plant
06:19 GMT

Abu Dhabi-based global energy company, Taqa, is working on plans to build a 100 megawatt, $850 million utility scale waste-to-energy plant in Abu Dhabi to generate power for 20,000 households.

In the Middle East, gas is forecast to overtake oil in demand after 2025
05:30 GMT

GCC states, particularly the UAE, Qatar and Saudi Arabia, plan to award contracts worth nearly Dh250 billion ($68 billion) during the next five years to raise gas production, despite the focus on renewable and nuclear energy.

The year to date traffic increased by 16.3 per cent to 21.9 million passengers
05:30 GMT

Dubai International recorded nine straight months of double-digit growth as passenger numbers in April jumped 18.7 per cent to 5.41 million over the same period last year.

The conference will cover an extensive range of topics, including satisfying global demand by showcasing key underground mining projects
05:00 GMT

The Oman Mining and Quarrying Summit, organised by IQPC Middle East in coordination with Global Exhibitions and Conferences, opened on Monday at the Golden Tulip Muscat.

May 27, 2013

IPIC has a $659 million facility maturing in June and $2 billion denominated debt maturing in September.
13:48 GMT

Abu Dhabi’s International Petroleum Investment Co (IPIC) expects to receive $4 billion in cash for a crude pipeline it built in the Gulf state, enabling it to repay some upcoming debt maturities, as US crude oil futures fell below $94 per barrel on Monday on growing concerns over economic slow down in China

16th International Trade Exhibition for Electricity Power Generation, Alternative Energy, Water Technology, Lighting and HVAC
13:26 GMT

Saleh Al-Awaji, deputy minister of water and electricity, inaugurated the 16th International Trade Exhibition for Electricity Power Generation, Alternative Energy, Water Technology, Lighting and HVAC.

Only Small cap among the market cap indices managed to gain slightly
11:58 GMT

The Saudi stock market continued its negative movement, marking another small decline of 0.19 percent yesterday.

Muscat Securities Market
11:51 GMT

Regional markets ended mixed on Sunday as most investors reassessed the sustainability of hefty year-to-date gains of the respective indices.

To cut its imports, Aramco has planned three new refineries
10:52 GMT

Saudi Arabia will import near record high diesel volumes this summer, as it gears up to beat the sweltering heat and meet rising travel needs during the Muslim fasting month of Ramadan, trade sources said.

Samsung PC monitor
10:47 GMT

Samsung Electronics has announced its increasing market share in the PC monitor category across the GCC.

Egypt falls to 107th place in WEF's global competitiveness index
06:13 GMT

Uncertainties associated with Egypt's post-revolution transition adversely affect country's ranking in World Economic Forum (WEF)'s Global Competitive Index for 2012/13

PDO signs $30mn deal to boost Omani manufacturing
06:00 GMT

Petroleum Development Oman (PDO) has signed a US$30mn contract with Schlumberger, a leading international oilfield services company, which will increase the amount of Omani-made materials used in the oil and gas sector.

Photo courtesy of Al Maabar International Investments
06:00 GMT

Al Maabar International Investments, which is implementing the $10 billion Marsa Zayed project in Aqaba, on Sunday announced awarding contracts to build two large projects in Amman and Aqaba.

Photo courtesy of Masdar
05:00 GMT

The UAE’s April oil output stood at 2.70 million barrels per day (bpd), unchanged from March, according to latest figures from the Paris-based International Energy Agency (IEA).

May 26, 2013

Majid Al Futtaim has 12 shopping malls in the Middle East
12:24 GMT

Majid Al Futtaim Holding, which bought Carrefour's 25 per cent stake in its Middle East joint venture, may buy part of the Spinneys supermarket franchise to expand its retail offerings across the region.