Main headlines

May 29, 2013

Saudi Arabia 100 Riyals bill
10:35 GMT

The Saudi development fund agreed Tuesday to lend Tunisia USD 150 million (some 230 million Tunisian Dinars) to co-finance construction of 20,000 housing units for low-income people.

South Korean firms including Samsung, Hyundai and Doosan Heavy Industries will build the four 1,400-megawatt reactors
10:29 GMT

The oil-rich UAE began construction yesterday of a second nuclear power plant, one of four reactors aimed at cutting carbon dioxide emissions by some 12 million tonnes a year in 2020.

The WRDC is encouraging the private sector
06:00 GMT

The value of announced projects in Abu Dhabi’s Western Region is Dh295 billion, a top-ranking Abu Dhabi government official told reporters on the sidelines of Al Gharbia Development Forum in the capital, an event aimed to draw new investors to the region.

The announcement came about a week after Doha Bank made public its commitment
06:00 GMT

More banks in the UAE are joining the SME lending bandwagon to expand their market share of the country’s financing segment.

Emirates NBD said it is also committed to extend special interest rates
05:00 GMT

Emirates NBD and Dubai SME have entered into a strategic partnership to extend up to Dh50 million in new loans dedicated to Emirati entrepreneurs and small businesses.

May 28, 2013

The Jordanian Royal Scientific Society is collaborating in the project
12:19 GMT

French firm Solar Euromed is to build a pilot solar energy station and laboratory in southern Jordan.

This rapid growth was primarily driven by the services sector and the gas sector
12:17 GMT

Enhanced private sector activity stimulated by higher government spending and growth in the non-oil and gas sector will drive Qatar’s real GDP growth to 6.5% this year and 6.8% in 2014.

Hike will undoubtedly have a negative impact on the price of products for consumer
12:04 GMT

Businessmen working in Egypt’s building materials sector warned that steel prices are expected to rise this coming June, as a result of increases in the price of raw materials and the continued devaluation of the Egyptian pound.

The 100MW plant will generate clean energy to power 20,000 homes in the UAE
12:00 GMT

Proper regulatory and policy frameworks are required to reach this potential, says expert.

They urged the EBRD “to reject the loan, or at least postpone its decision”
11:00 GMT

A group of NGOs have announced their opposition to a proposed loan from the European Bank for Reconstruction and Development (EBRD) to fund oil drilling projects in Egypt.

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