Report from MEED conference in Abu .Dhabi

Egypt; Italy takes refinery contract Iran: Bids in for steel mill Kuwait: Giilf Bank takeover looms Oman: HSBCto work on gas financing

Qatar: UAE signs gas import deal

MEED'S weekly survey of the region's leading stock markets

89 tenders in 13 countries Egypt: Tourism centre Pakistan: Transmission line project Saudi Arabia: Substations construction and extension

Turkey: Wastewater treatment plant UAE: Airport radars

Cover Story: OIL

OPEC ministers are to meet on 23 March to approve a Saudi-led plan to cut crude output by more than 2 million barrels a day. David Butter assesses the chances of this plan succeeding in its desired aim of pushing oil price s up towards $18 a barrel by the end of the year. Most analysts predict a significant rise in oil prices in the third and fourth quarters Pages 4-5

While the kingdom is leading a fresh attempt to achieve a sustainable recovery in oil prices, it is also treating the reform of the Saudi economy with greater urgency, reports Peter Kemp. Banking performance is reviewed by Edmund O'SuUivan. Power sector reform is examined by Robert Trevelyan, and Steven Miles looks at legal issues for petrochemical investors Pages 11-22

Finance:_______________4

Regional Focus:________20

News:_____ 21-33

Egypt: HSBC wins mining loan mandate Iran: Bids in for oil field work Lebanon: New taxes figure in Corm's budget

Saudi Arabia: Ararnco launches BOO petrochems bid

UAE: Dubai Investments goes for IPP

Contracts:______34-35

Awards reported in MEED in March

MEED'S weekly survey of the region's leading stock markets

Tenders:___________37-40

88 tenders in II countries Egypt: Transmission line towers Kuwait: Transformer station Qatar: Piping modification UAE: Power generators Yemen: 0&M equipment

Cover Story: OMANI GAS

With a mandate to execute two ambitious gas pipeline projects, the formation of Oman Gas Company offers the prospect of a relaunch for the sultanate's drive to diversify its industrial base. Several key projects have experienced setbacks in recent months, but their future is inextricably linked. James Gavin reports on the pipeline scheme and the current status of the key projects Pages 2-3

Although many Middle East construction markets expect to enter a quieter period, several markets are bucking the trend. David Butter looks at the Dreamland project outside Cairo, Toby Ash profiles Al-Kharafi & S ons, Kuwait's largest contractor, Pain Dougherty profiles Jordan's booming Dead Sea area, Angus Hindley looks at major developments in Dubai and Doha and YawarMian looks at activity in Abu Dhabi Pages 7-19

MIDDLE EAST ECONOMIC DIGEST :Vol 43 No l4 9 April 1999

Egypt: NBE to raise $150 million loan Jordan: Field narrows for IPP Lebanon: Solidere feels the pinch Qatar Spending trimmed in budget Yemen: IMF approves loan

MEED'S weekly survey of the region's leading stock markets

Tenders:___________29-32

88 tenders in II countries Egypt: Oil & gas exploration Kuwait: Bridge repair Morocco: Telephone equipment Pakistan: Field vehicles Saudi Arabia: Gas turbine conversion Tunisia: Civil engineering equipment

Cover Story: UAE BOURSE

Everything is slotting into place for the formal UAE stock exchange, with bankers, investors and stock brokers keenly anticipating its launch. Yawar Mian reports on the conception of the region's newest bourse, which will rank second after Saudi Arabia's by market capitalisation, as it awaits final approval by the federal authorities.

Pages 2-3

Hopes are high that a rebound in oil prices has begun after the latest supply cuts. However, compliance will have to improve if the recovery is to be sustained, Peter Kemp writes. Vahe Petrossian assesse s the prospects for the Caspian oil producers. Angus Hindley profiles Qatar's Ras Laffan Liquefied Natural Gas Company, the US' Halliburton and J Ray McDermott Middle East.

Pages 7-19

UAE company Cupola in profile

Egypt: Bidders queiy Suez water tender Lebanon: Referee to judge on GSM dispute Libya; Business gears up to renew contacts Qatar; Banks sign up for gas financing UAE: Bids in for NBAD offices

MEED'S weekly survey of the region's leading stock markets

Tenders:___________38-40

52 tenders in 13 countries Algeria; Gas pipeline and compression stations

Egypt: Toshka canal construction Morocco: Telephone equipment Saudi Arabia: Hospital operation Tunisia: Drinking water pipes Yemen; Telecommunications cables

Turkey's forthcoming general election provides the chance of a fresh start for a country whose economic prospects have been harmed by political incoherence. Tom Everett-Heath reports on the chances of an Ecevit-Yilmaz regi me putting things right

Pages 2-3

As Egyptian President Mubarak gears up for a fourth term in office, David Butter asks if a new generation of business leaders can stimulate a rejuvenation of the Egyptian government. The report includes surveys of the econ omy and the banking and finance sector, and an analysis of the privatisation programme. Local firms Hamza and Tritech are also put under the spotlight

Pages 17-36

_________________________________________________

Al-Jazeera Satellite Channel

Regional Focus:________l4 News:______________16-27

Algeria: Election -sparks new crisis Egypt: Hyundai wins Nile Plaza contract Lebanon: Thumbs up for budget Oman: Power plant expansion gets go-ahead Saudi Arabia: CCC wins Hawiya civil contract /font

MEED'S weekly survey of the region's leading stock markets

Tenders:___________29-32

64 lenders in 13 countries Kuwait: Transformer stations Lebanon: Road-s project Libya: Medical supplies Pakistan; BOT airport Tunisia: Vehicles/computer equipment

The suspension of UN sanctions on Libya opens up new opportunities for business in North Africa's leading oil exporting country. James Gavin and David Butter report on the prospects for international companie s aiming to supply oil and gas equipment and participate in new infrastructure projects

Pages 2-3

The rebound in oil prices will restore some of the comparative advantage enjoyed by Middle East petrochemical producers but the outlook for this year remains difficult, with no significant recovery expected until after 2000, writ es Peter Kemp. Saudi petrochemicals issues are discussed by Robert Trevelyan and Angus Hindley reports on the growing Qatari industry Pages 9-13

_________________________________________________

Egypt: Two bid for East Port Said concession Iran: Bids due for polyolefins plant Libya: Oil investment courted Saudi Arabia: NIC goes ahead with petrochems scheme Turkey; Nationalist leader tak es the limelight

MEED'S weekly survey of the region's leading stock markets

Tenders:___________28-32

108 tenders in 13 countries Egypt; Naval base facilities improvement Kuwait: Highway and bridge maintenance Morocco; Air terminal extension Saudi Arabia: Gas turbines Syria; Dredging work Turkey: Steel pipes

The election ofAbdelaziz Bouteflika as Algeria's new president on 1$ April has been nured in controversy, as the six other candidates withdrew at the last minute, citing fraud. David Butter reports on the fallout from the poll and looks at the prospects for the economy in light of the country's heavy debt obligations and chronic unemployment problem

Pages 2-3

Special Report: JORDAN

Events have yet to test the mettle of Jordan's King Abdullah, who has reaffirmed Jordan's Arab ties, while also working to keep the unpopular peace with Israel on track. With an IMF deal just signed, the economic focus is on shar per reforms, while industrial expansion is benefiting from foreign investment. The report, by Pain Dougherty in Amman, includes a profile of the Qualifying Industrial Zone, and a project update.

Pages 7-13 ------------.----------.--------

_________________________________________________

Egypt: Telecoms participation moves ahead Jordan: GSM bids submitted IVIorocco: Euro loan for insurance buy-out Qatar: Billion-dollar bond launched Saudi Arabia: Banks lend for telecoms work

MEED'S weekly survey of the region's leading stock markets

83 tenders in 14 countries Egypt: Telecoms privatisation consultancy Gaza/West Bank: Satellite earth station Kuwait: SCADA system Oman: Desalination research Tunisia: Road upgrading

The historic visit of Iranian President Khatami to Saudi Arabia is a milestone in the rehabilitation of the Islamic republic. However, it is premature to read too much into the rapprochement as there are still many issues that ar e likely to limit co-operation, writes Peter Kemp. The aims of Tehran are also analysed by Vahe Petrossian Pages 2-3

The oil price crash of 1998 has finally caught up with the UAE, with its economy now in the grips of a mild recession. Yet many strengths still offset the weaknesses in the seven emirates, as Angus Hindley reports. Yawa r Mian looks at the fortunes of the local banks and puts Fujairah and Al-Ain in the spotlight. Legal developments on utility and infrastructure privatisation are also outlined Pages 21-35

_________________________________________________

Bahrain: Bids due for power contracts Egypt BOOT water system for East Port Said Qatar: Q-Chem looks for finance Saudi Arabia; Telephone contract to be split up UAE: ADNOC outlines petrochems pl ans

MEED'S weekly survey of the region's leading stock markets

58 tenders in 13 countries Jordan: College construction Oman; Power transmission line Pakistan: Bridge construction Saudi Arabia: Substation capacity upgrade Yemen: Cables

Labour leader Ehud Barak's landslide victory on the back of popular discontent with Benjamin Netanyahu has transformed the Israeli political landscape. Toby Ash looks at the likely composition of the new Israeli government , analyses Arab reaction to Barak's victory and examines the prospects for progress in the stalled peace process

Prime Minister Wim Kok's coalition government has faced criticism since its inept inquiry into the 1992 El Al plane crash, increasing the likelihood of early elections. Toby Ash reports from the Netherlands on the domestic politi cal agenda and examines the country's political links with the Middle East. Trade is also examined, and there is a spotlight on the engineering and consultancy groups active in the region Pages 21-28

_________________________________________________

MIDDLE EAST ECONOMIC DIGEST
Vo l43, No 28, July 1999

Finance:___ 4
Regional Focus:_______ 12
News:____________ 13- 27

Egypt: Rodio/AIC wins East Port Said job
Lebanon: Merger creates new top 10 bank
Kuwait: MPs set to give government a
rough ride

Libya: UK restores diplomatic ties
Morocco: Mobile phones licence goes for
$1 billion
Turitey: IMF keeps up pressure on reforms

Stock Market Watch: 28

MEED'S weekly survey of the region's
leading stock markets

Tenders:__________ 29- 32

87 tenders in 12 countries
Egypt: Air base facilities
Jordan: Port management and 0&M
Kuwait: Transformer station
Pakistan: Electricity station
Turkey: Marine wireless systems
UAE: Power turbine

Cover Story:
QATAR
Qatar looks set to deliver a balanced
budget this year for the first time in
over a decade. Though the oil price
rebound has helped, tough measures
to contain the growth in spending
implemented by Finance, Economy
& Commerce Minister Yousuf
Hussain Kamal hold the key to the
change in fortunes. He talks to
ngus Hindley. Qatar's use of the
international bond market is also
analysed
Pages 2-3

Special Report:
PALESTINE

Israeli Prime Minister Ehud Barak has
pledged to restart the moribund
peace process and address final status
issues, although Palestinian
expectations of progress are
subdued, reports Pain Dougherty. A
gradually-improving economy and
infrastructure are profiled, and an
Israeli proposal to revive the elevated
highway project between the West
Bank and Gaza is also examined
Pages 7-11

______________

MEED

MIDDLE EAST ECONOMIC DIGEST
Vol43No29 23 July l999


Finance:______________ 4

Regional Focus:_______ 15

News:_________________16-27

Egypt: Six to bid for telecoms sale mandate
Iran: Battle joined between Khatami and his
foes

Kuwait: Banker takes finance portfolio
Morocco: ONA takes control of SNI
Oman: Bids invited for pipeline contract


Stock IVIarket Watch: 28

MEED'S weekly survey of the region's
leading stock markets


Tenders:_______________29-32

89 tenders in 15 countries
Egypt: Land reclamation
Gaza/West Bank: Irrigation project
Kuwait: Oil spill recovery vessel
Oman: Harbour works
Tunisia: Road works


Cover Story:
MOROCCO

At around $1 billion, the contract
for a second mobile phone
operating licence in Morocco has
set new benchmarks by which
international operators value their
services, as well as highlighting the
importance of transparency in the
bid evaluation process, reports "
David Butter. The experience of
Egypt, where two mobile licences
were awarded 13 months ago, is
also examined
Pages 2-3


Special Report:
OIL & GAS

The strong recovery in oil prices
since mid-year is solid evidence —
and a great source of relief — that
the OPEC supply cuts are working.
Prices are expected to reach at least
$20 later in the year — if the
production discipline holds.
Peter Kemp reports on the
dramatic turnaround, while activity
in the region's main producing
countries is monitored by MEED
writers
Pages 7-14

________________________

MEED
®
MIDDLE EAST ECONOMIC DIGEST
Vol 43 No 30 30 July 1999

Finance:______________4_

Regional Focus:_______20

News:_____________21-35

Bahrain: $1 billion Alba expansion plans
move forward

Egypt: Bids invited for Suez NGL plant
Iran: South Pars gas contract awarded
Oman: New cost proposals for fertiliser plant
Qatar: Q-Tel shares make London debut
UAE: Hyundai takes Jebel Ali D contract


Stock Market Watch: 36

MEED'S weekly survey of the region's
leading stock markets


Tenders:___________37-40

59 tenders in 12 countries
Morocco: Power station consultancy services
Tunisia: Intervention capacity improvement
study

Turkey: Power transformers
Yemen: Trench shoring system


Cover Story:
IRAN

A week of violent street protests
recently has highlighted the level of
difficulties facing President
Khatami, who is half-way through
his four-year term. Vahe
Petrossian assesses the president's
progress in the political arena and
examines the even harder task of
reforming Iran's beleaguered
economy
Pages 2-3


Special Report:
CONSTRUCTION

The oil price recovery bodes well
for the construction sector, with
contractors now hopeful of a
rebound in business confidence
and a renewal of activity after a
quiet period. MEED writers report
on activity in 10 countries in the
region, while David Butter profiles
Arabian International Construction,
the leading Egyptian contracting
firm
Pages 749
____________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 11, March 1999



Finance: 4


Bahrain: 5
New ruler faces battle to preserve legacy



Regional Focus: 18


News: 19-35
tgypfc Bids due for Nile Valley gas line

Jordan: Solid choice for Prime Minister

Kuwait: Hanjung signs desal contract

Saudi Arabia: New port lease awarded

Yemen: Start-up at Aden container port


Stock Market Watch: 36
MEED'S weekly survey of the region's
leading stock markets



Tenders: _37-40

84 Tenders m 15 countries

Morocco: Water sanitation reinforcement
works

Oman: Power generation plant

Syria: Pipelines

ÜAE: Power project equipment

Yemen: Power station equipment

MEED(MIDDLE EAST ECONOMIC DIGEST)
VOL:43, NO:19, MAY 1999

Finance: 4 I

Regional Focus: 6

News: 8-19

Egyp: EdF agrees BOOT terms
Iran: Bids invited for South Pars
Kuwait: Sulaibiya project moves ahead
Libya: Engineers quote for Italy gas line
Turkey: P&.0 Ports invests in container
terminal

Stock Market Watch: 29

MEED'S weekly survey of the region's
leading stock markets

Tenders: 30-32

60 tenders in 13 countries
Jonlan: MRf machine
Kuwart: Road works
OMAN: Electricity line
Syria; Telecommunications equipment
Turkey: Drinking water system

MIDDLE EAST ECONOMIC DIGEST

Vol 43 , No4 29 January 1999

Egypt: $670 million loan fixed for MobiNil
Kuwait: Bidders line up for Al-Ahmadi pier
Pakistan: IMF lends $373 million
Turkey: Telecoms giant primed for sell-off
UAE: CMS deepens private power role

Stock Market Watch: 28
MEED'S weekly survey of the region's
leading stock markets


Tenders:___________29-32

70 Tenders in 10 countries
Egypt Drainage project
Iran: Construction machinery
Kuwait: Transformer station
Pakistan: Irrigation and drainage
Turkey: Dam construction

MEED(MIDDLE EAST ECONOMIC DIGEST)
vol:43, No:5,
Finance 4

Regional Focus: 13

News 14-25

Algeria; Anadarko plansnew investment
Egypt. Snam set for refinery job
lordan: King names new successor
Saudi Arabia: Sharq financing tied up
Tunisia: Costain wins gas contract

Contracts 26-27
Awards reported-in-MEED in january

Stock Market Watch: 28
MEED'S weekly survey of the region's leading stock markets

Tenders: 29-32

MIDDLE EAST ECONOMIC DIGEST

Vol . 43 , No . 8 , 26 February l999

News: 17-30
Algeria: Sonatrach gets go-ahead for oil field
investment
Lebanon: Merrill Lynch takes Eurobond
mandate
Morocco: Year delay on Tangiers port pro)ect
Qatar: Shake-up for utilities

Saudi Arabia: Bids in for telecoms contract

Stock Market Watch: 36
MEED'S weekly survey of the region's
leading stock markets


Tenders: 37-40

74 Tenders in 12 countries
Algeria; Water supply project
Morocco; Water treatment plant
Saudi Arabia: Substations
Tunisia: Road construction
Turitey: Airport lines terminal building

__________________________

MIDDLE EAST ECONOMIC DIGEST
VOL . 43, No. 32, August 1999


Finance: 4


Regional Focus: 16

News: 17- 32

Esypti Cement sell-offs go ahead

Kuwait: Equate trebles capital

Morocco: ABN AMRO to raise $350 million
GSM loan

Qatar Rasgas signs new sales deal

Saudi Arabia: Bidders line up for
petrochems work

Briefing: Jordan 35

Stock Market Watch 36

MEED'S weekly survey of the region's
leading stock markets

Tenders: 37- 40

73 tenders in 13 countries

Egypt: Barrage study

Israel: Waste treatment plant works

Saudi Arabia: Hospital operation

UAE: Distribution transformers

Yemen: Dam construction

__________________________________________-

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 33, August 1999


Finance:_ 4

Regional Focus: 11

News: 12-27

Egypt: East Port Said franchise signed

Iran: Snags on Neka pipeline contract

Jordan: Aqaba railway deal on track

Morocco: Telecoms privatisation moves ahead

Qatar NGL-4 contract awarded

Saudi Arebia: $12,9 bn current account
deficit

Briefing: UAE 27

Stock Market Watch: 28

MEED'S weekly survey of the region's
leading stock markets

Tenders: 29- 32

72 tenders in 12 countries

Pakistan: Road concession

Saudi Arabia; Substations

Tunisia: Road network upgrade

Turkey: Anaerobic sludge digestion plant

Yemen: Distance learning satellite network

_______________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No . 34 , August 1999


Finance: 4

Regional Focus: 17

News: 18-28

Egypb Project finance for Suez refinery
lran;Japan reduces dam loan

Oman: PSEG wins Salalah power deal

Saudi Arabia: Banks to raise $2.3 billion
for aircraft

UAE: GE wins power contract

Stock Market Watch: 29

REED'S weekly survey of the region's
leading stock markets

Tenders: 30- 32

4 7 tenders in 13 countries

Egypt: LPG plant

Kuwait: Housing maintenance

Pakistan: Drainage and water management
facilities

Saudi Arabia: Hospital operation

Tunisia: Company sale

Turkey: Gas storage facilities study

________________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 35 , September 1999


Finance: 4

Qatar: 5
Q-Chem financing signed


Regional Focus: 15


News: 16-27

Egypt: UBE wins control of EAAB


Iran: Hyundai wins pipelines at Soulh Pars


Kuwait: Bids invited for Sulaibiya BOT


Morocco: Ericsson wins GSM order


Yemen: First IPP bids under evaluation


Stock Market Watch: 27


Contracts: 28-29
Awards reported in MEED in August


Tenders: 30-32

44 tenders in 11 countries

Kuwait: Housing maintenance

Pakistan: Radio communications nerwork

Qatar: Refinely shutdown/turnaround

Saudi AFabia: Hospital O&M

UAE: Road rehabilitation

_______________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No . 36, September 1999


Finance: 4

Regional Focus: 18

News: 19-28

Egypt: Bids in for $400m Nile Gas project

Iran: Italy opens $l,000m credit line

Jordan: US offers debt relief

Saudi Arabia: Sabic affiliates seek to
restructure $2,500m in loans

Tunisia: Rades IPP ready for syndication

Stock Market Watch: 29

Tenders: 30-32

36tenders in 13 countries

Iran: Gas development project

Kuwait: Sewage water treatment plant

Oman: Road construction

Saudi Arabia: Water storage tanks

UAE: Power and desalination station

_____________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol . 43 , No. 37, September 1999


Finance: 4

Regional Focus: 22

News: 23- 38

Egypt: Industry chiefs bid for department
stores

Oman: Investors sought for $276 million in
new projects


Qatar: Fast-track power contract

Saudi Arabia: Hadeed loan revamp takes
shape

UAE: Rids in for hospital


Stock Market Watch: 37

Tenders: 38 - 40



56tenders in 13 countries

Egypt: Company sale

Jordan: Pipeline construction

Syria: Signalling and telecoins spares

Turkey: Railway survey

UAE: Steel billets

______________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 38, Septemer 1999


Finance: 4

Regional Focus: 12

News: 13-27

Egypt £E 1 billion complex gets go-ahead

Iran: Khatami presents five-year plan

Libya: Technip tipped for Italy gas project

Saudi Arabia: STC sets up credit lines

Yemen: Two GSM licences up for grabs

Stock Market Watch: 28

Tenders: 29- 32

65 tenders in 13 countries

Kuwait: Power and water distillation support

Morocco: Water treatment plant

Oman: Substation construction

Pakistan: Hydropower project development

Yemen: GSM licences

_____________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 39, October 1999


Finance: 4

Regional Focus: 15

News: 16-28

Algeria; Italy wins power contract

Egypt; Telecoms privatisation moves ahead

Iran: China takes over pipeline project

Kuwait: Industrial group plans GDR

Lebanon: $712 million bond snapped up

Stock Market Watch: 29

Contracts: 36 - 37


Awards reported in MEED in September

Tenders: 38-40

44 tenders in 14 countries

Algeria: Airport completion and operation

Jordan: LPG storage facilities and sulphur
recovery unit

Oman: Road construction

Tunisia: Bank evaluation

Turkey: Grand Channel collector construction

Databank: 40
The Middle East in numbers

_____________________________________

MIDDLE EAST ECONOMIC DIGEST
Vol. 43, No. 40, October 1909

Finance:_ 4

Regional Focus: 25

News: 26- 36

Algeria: Oil field projects surge ahead

Egypt: Bids due for new BOOT power plants

Iran: Big new gas Field found

Iraq: UNDP invites bids for power
equipment

Saudi Arabia: Haradh gas field bids invited

Gulf US 99: 34

Report from MEED'S Washington conference

Srock Market Watch: 37

Tenders: 38- 40

45 tenders in 15 countries

Egypt: Water branch channel construction

Iran: Electricity engineering consultancy

Pakistan: Bridge construction

Qatar: Pipeline

Tunisia: Dumping site study

Databank: 40
The Middle East in numbers

_______________________________________

_______________________________________