Economic growth in the Middle East and North Africa (Mena) region will likely reach 4.5 per cent in 2010 and 4.8 per cent in 2011 due to commodity price strength, rising external demand and robust government spending programmes, the International Monetary Fund (IMF) said in its World Economic Outlook report.
Gulf economies have embarked on a new growth chapter and the UAE remains one of the region’s powerhouses, Nomura, one of the leading global investment banks, said in a latest study. “Its plentiful hydrocarbon resources and successful diversification drive have combined to create an economy with strong medium-term prospects,” Ann Wyman, Managing Director and Head of Emerging Market Research, Europe, said for the UAE. “But the economic crisis has hit the country particularly hard, exposing some weaknesses in its rapid non-oil expansion of recent years.”
Trade Bank of Iraq (TBI) has doubled the maximum value of Letters of Credit it allocates to the private banking sector in Iraq. Last year alone, 945 Letters of Credit were allocated to private banks, at a value of approximately US$500mn. The total number allocated to private banks by TBI is 2,446, at a value of about US$3 billion.
DAIMLER IS TO divest its 30 per cent stake in an engine company in Iran as part of a wider review of links to the country. The German carmaker's chief executive, Dieter Zetsche, said Tehran's political policies were behind the move.
A GCC-WIDE implementation of value-added tax could be delayed to mid-2013 as administrations are unprepared for such a shift and an official decision is yet to be taken, an expert in Dubai said recently.
A new federal law on small and medium enterprises (SMEs) to be introduced by the end of June will outline the definition of SMEs, procedures of establishing SMEs and their capital requirements, a senior official of the Khalifa Fund said recently.
The Middle East's leading chief executive officers are confident the region is moving towards economic recovery, according to a key survey.
QATAR’S TOURISM SECTOR is expected to sustain its six per cent annual revenue growth rate in 2010, and will particularly continue to focus on inbound travel being generated by the rapidly expanding local meetings, incentives, conferences and exhibitions (MICE) segment. The more than 180 major events scheduled in Qatar this year are expected to further increase demand for hotel rooms, mirroring the solid 25 per cent increase in room space recorded in 2009.
RUBBER WORLD INDUSTRIES (RWI), the leading manufacturer of closed-cell rubber insulation 'Gulf-O-flex' in the Gulf and South-East Asia, and part of the international business conglomerate, the Memon Group of Companies, revealed that it has supplied a total of 120 containers of rubber insulation products worth US$1.22mn to customers based in Iran in 2009.
SAGE SOFTWARE, THE leading global supplier of ERP, CRM, and HRM solutions to medium and large organisations, announced that it has been awarded a ‘Sage ERP X3’ implementation contract by Trouvay & Cauvin Gulf, a project package specialist for line pipe, fittings and flanges, valves, instrumentation and control systems in the Middle East.
AT THE BEGINNING of 2009, UFI, the Global Association of the Exhibition Industry, decided to assess the impact of the economic downturn by developing a ‘Crisis Barometer’ based on the perceptions of UFI members in 82 countries.
A new programme of international trade exhibitions reflecting the modern needs of Saudi Arabia's dynamic economy, and tailored to meet the needs of the Kingdom’s aggressive growth plans, has been announced for 2011.
The UAE is one of the major magnets of foreign investment in the region, Shaikha Lubna Al Qasimi, UAE Minister of Foreign Trade said recently.
Jordan’s economy is expected to grow 3.9 per cent this year and 4.5 per cent in 2011, according to a World Bank report.
AROUND 36 PER cent of Iraqis say economic issues - unemployment (21 per cent) or financial insecurity (15 per cent) - are the biggest problems they face today. This compares to 16 per cent who believe security problems are their greatest difficulty.
“Alkhorayef Group has a strong reputation within the industries in which we operate, but our brand is not yet widely known around the world”.
MANPOWER, A GLOBAL leader in employment services, has released an insight paper highlighting the need for reforms in labour policies and practices throughout the world, particularly those involving female work participation. Titled “The Underworked Solution: Women and the Talent Crunch,” the Manpower study affirms that the rate of female participation in the labour force is significantly lower than that of men, not only in the Middle East but throughout the world. 
A RESEARCH TOOL which tracks travel trends quarterly has revealed that a sharp decline in air travel is expected, with many passengers switching to economy class. YouGovSiraj’s Travel Tracker result of answers from 844 travellers from the UAE who responded to the survey during January 2009. The amount of people flying from the UAE remained stable in 2008 compared to 2007 but this fell far short of the expected rise in travel. 
GULF AIR, THE national carrier of Bahrain, has signed an agreement to lease four new Boeing 777 ER aircraft as part of the airline’s re-fleeting and product-enhancement strategy. Three of the new aircraft joined the airline during March 2009 while the fourth one will join in May. The aircraft, leased from Jet Airways, will be used on a number of routes including London, Kuala Lumpur, Bangkok and intra Gulf Routes, gradually replacing the Airbus 340s.
THE SYRIAN ECONOMY grew 6.5 per cent in 2007 and last year, showing that the government's policies were effective, Prime Minister Mohammed Naji Otri said. "Certain economic indicators reflect the correctness of our plans. GDP registered 6.5pc growth in 2007 and 2008. These figures inspire optimism and show we are on the right track," he told a meeting of engineers. 
UAE MINISTER OF Foreign Trade H.E. Sheikha Lubna Bint Khalid Al Qasimi welcomed the recent accession of the Democratic People's Republic of Algeria to the Greater Arab Free Trade Zone. The executive program of the Zone commenced in Algeria at the beginning of this year.
COMPANIES IN QATAR are looking to actively enhance their Corporate Social Responsibility (CSR) strategies in light of the current global economic situation, according to the organisers of Qatar’s first major conference on the issue that took place recently.
Etisalat nears Reliance Communications stake
UAE telecom operator, Etisalat, is close to buying a 26 per cent stake in the second most successful Indian telecoms firm Reliance Communications.
Metito eyes expansion plans
METITO, THE UAE-based utilities provider, is unlikely to go for an IPO this year and may opt to concentrate on aggressive expansions first.-
Abu Dhabi Ports considers US$1 billion bond 
State-owned Abu Dhabi Ports Company (ADPC) may sell up to US$1 billion in bonds early next year to finance the Khalifa Port Industrial Zone (KPIZ) in Abu Dhabi, according to its chief financial officer. ADPC has appointed the National Bank of Abu Dhabi as a financial advisor to draw up a long-term financial strategy. Arrangers for the bond have yet to be appointed.
Abu Dhabi Ports considers US$1 billion bond
Gulf Air fleet renewal programme on schedule
Gulf Air has announced that it is on target with its fleet renewal programme, following the delivery of its eighth A320-200 last month. The arrival of the new aircraft marks the final delivery in the first phase of the Bahrain’s national carrier’s order for 15 A320-200s and brings the number of new aircraft in the airline’s fleet in the last 10 months to 10 - eight A320-200s and two E170AR regional jets, according to the company.
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US$130mn Saudi Arabia power plant component order won 
Siemens Energy has secured a US$130mn order to supply gas turbine packages to Saudi Arabia. The components are to be installed in the Hail Extension II and Al Qurayat Expansion II power plants. The purchasers are the Alfanar Construction Company and Saudi Services for Electromechanic Works (SSEM) respectively and they will perform the project on a turnkey basis for the Saudi Electric Company (SEC) utility. Delivery of the components is scheduled for 2010 and 2011.
Power and automation technology group, ABB, has won an order worth US$89mn from the Saudi Electricity Company to build a new substation to ensure reliable power supplies for the King Abdullah Financial District in Riyadh. The substation will be close to the financial centre and feed four smaller substations situated within the district. The project is expected to be completed in around 22 months.
Air blowers using internal compression instead of external compression can set a new standard for energy efficiency in the low-pressure market according to a new technical whitepaper from Atlas Copco’s oil-free air division. The whitepaper explains the differences between screw technology and the traditional ‘Roots’ type lobe technology and says that screw technology, which is used in Atlas Copco's ZS screw blowers, is on average 30 per cent more energy efficient. The manufacturer recently launched its full range of ZS screw blowers that are designed to improve energy efficiency for low-pressure applications and industries such as wastewater treatment and pneumatic conveying.
Plans for the zero-carbon Masdar City project are to be revised, with details of the amended master plan to be announced “imminently” according to Masdar's head of supply-chain management, Richard Reynolds. “We’ll finalise the revised Masdar plan fairly imminently, in the next two to three weeks,” Reynolds was quoted as saying by Bloomberg. “We’d only built part of it, so it made sense to stop and revisit.”
Saudi Arabia has taken the first step towards becoming energy efficient by holding its first ever public stakeholder meeting, the initial step in certifying an energy efficiency project under the rules of the Kyoto Protocol’s Clean Development Mechanism (CDM), in Jeddah recently.
Power generation equipment and services supplier, Alstom, has announced the strengthening of its renewables portfolio through a partnership with BrightSource Energy Inc. Alstom's move into the high-growth solar energy market comes in the form of an investment of up to US$55mn in BrightSource Energy Inc, with an equity stake that positions Alstom as one of the main shareholders in the company. 
A high level delegation representing the energy sector in Dubai has visited China to look at the latest global practices in the area of sustainable energy and the diversification of its sources. The delegation exchanged knowledge on the usage of conventional power plant technologies (using ultra super critical power plant-coal and synthetic gas) to generate electricity and produce desalinated water.
The Abu Dhabi Fund for Development (ADFD), a fund established by the government to aid the economic development of developing nations, has granted a loan to Bahrain worth US$50mn. The loan will be used to erect two electric transmission lines, of 220KV and 66KV each, to meet the increasing demand for electric power.
Abu Dhabi Transmission and Despatch (Transco) has placed an order with Siemens Energy to supply transformer substations and switchgear for the UAE power distribution network expansion project. The US$184mn order includes the turnkey supply of three 132/11 kV transformer substations and two 132/22 kV substations.
Power and automation technology group, ABB, has signed a service contract with the Gulf Cooperation Council Interconnection Authority (GCCIA) to provide maintenance for equipment and systems at the Gulf Interconnection Grid's newly constructed substations. The two-year contract is worth US$8.3mn and will aim to optimise the grid's reliability through regular maintenance and provide technical and emergency assistance when required.
Abu Dhabi is considering a proposal to use solar energy equipment on rooftops in the city to generate about 500MW of power, according to the executive director at the city's Executive Affairs Authority, David Scott.
Masdar, Abu Dhabi’s renewable and alternative energy technologies and solutions initiative, has appointed the bidding consortium of Total and Abengoa Solar as a partner to own, build and operate Shams 1, the world’s largest concentrated solar power plant (CSP). One of Masdar’s flagship projects and the first plant of its kind in the Middle East, Shams 1 will directly contribute towards Abu Dhabi’s target of achieving 7 per cent renewable energy power generation capacity by the year 2020.
Oman has awarded France's GDF Suez a US$1.7 billion contract to build two power plants. A tender board official told Reuters, “GDF Suez has signed a 15-year contract with the government in a BOOT (build, own, operate and transfer) model for which the company will spend 700 million rials."
An executive from state oil company Saudi Aramco has said that renewable sources could account for up to 10 per cent of Saudi Arabia's power output by 2020 with prices coming down and a regulatory framework in place.
ABB, THE LEADING power and automation technology group, has won an order worth US$38mn from the Saudi Electricity Company, Saudi Arabia’s national power transmission and distribution utility, to improve the efficiency of 22 power distribution substations.
THE MIDDLE EAST has the opportunity to become a boom centre for solar energy in the next 10 years, according to AT Kearney.
THE INCANDESCENT LIGHT bulb is disappearing from stores. It has long been superseded by a new generation of light sources. In tomorrow’s multimedia society colour displays the size of an apartment will generate crystal-clear images, and entire sports stadiums will be lit by high-performance lamps.
Technical Review Middle East - Issue Three 2009 Power 60 IN THE PRESENT economic climate the fact that renewable energy can cut pollution levels may not be enough. As Phil Desmond discovers, some recent innovations in the field of cellular communications are being promoted not just as being better for the environment than conventional fuels but better for business too.
ARAMCO’S “FAIR” PRICE of US$75 a barrel has not yet been achieved but the giant Saudi economy is still surging ahead, prioritising the creation of new homes and diversified jobs in industry, social and other services to satisfy the needs of a 26mn young and wealthy population which grows at two per cent-plus every year. This means continued rapid progress on the development of the new Economic Cities, further and accelerated petrochemical and light industrial diversification, and the Middle East’s largest by far programme of dedicated passenger- and freightline rail construction. 
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September 2010
SEPTEMBER 2010
27-30 Project Iraq ERBIL
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October 2010
OCTOBER 20103-6 Saudi Build RIYADH
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4-6 Powergen Middle East DOHA
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17-19 PG&WSME ABU DHABI
www.powerandwaterme.com 17-20 Recycling & Waste Management KSA RIYADH
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17-21 GITEX Arabia DUBAI
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18-21 Erbil International Fair ERBIL
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25-27 Saudi Transtec Dharan
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November 2010
NOVEMBER 20101-4 GCC Power DOHA
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1-4 Adipec 2010 ABU DHABI
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2-6 Jordan Motorshow AMMAN
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21-24 The Big 5 DUBAI
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28-30 Roadex/Railex ABU DHABI
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28-30 MEMEX 2010 ABU DHABI
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