DECEMBER 2007: MOSCOW GLOBAL INVESTMENT AND FINANCE FORUM
July 31, 2007 at 11:10 pm | In Economics, Financial, Globalization, Research, Russia | Leave a Comment
Eventica’s Global Investment and Finance Forum
Global Investment and Finance Forum
The Ritz-Carlton, Moscow, 9-11 December 2007
The world’s financial architecture is changing beyond recognition, with global markets linked together as never before. To survive and prosper, finance directors, bankers, brokers and other members of the investment and finance communities in emerging economies need a far greater understanding of the dynamics and movement of international capital.
This December, Eventica’s Global Investment and Finance Forum will put the spotlight on the future shape of the world economy and what it means for Russia. An intensive two-day programme will take the long view on the world economy, to allow participants to identify future prospects and prepare for future risks.
The conference will also feature a special focus on Moscow’s viability as an international financial centre. If the Russian economy is to make real progress in attracting outside investment, Moscow must lead the way. Is it ready? Does it have the human resource – the skills and expertise – and the infrastructure?
The conference will open with a private gala dinner on the evening of 9 December, featuring a special guest speaker.
Venue will be the new Ritz-Carlton in Moscow. Located in the heart of the city centre just near Red Square, the hotel promises to set new standards as the Russian capital’s premiere conference venue, with over 1,300 square metres of meetings and events space, and room to accommodate over 650 delegates.
This event is a must for anyone in Russia’s financial community looking for a better understanding of key global trends, and international bankers and investors with an interest in Russia. For more details on participating as a delegate, speaker or sponsor, please contact the organisers on +44 (0)20 7183 2560 (London), +7 (495) 649 1828 (Moscow) or info@eventica.co.uk.
Global Investment and Finance Forum 2007
Eventica eventica@ma001.com
Wednesday, July 11, 2007
OIL FUTURES AND OIL PRICES
July 31, 2007 at 10:50 pm | In Economics, Financial, Globalization, Middle East, Oil & Gas | Leave a Comment
CGES One-day Seminar
Oil price determination:
futures markets or fundamentals?
18th October 2007 at the Carlton Tower Hotel, London
Many believe that understanding the movement of oil prices is no longer just a matter of getting oil’s demand and supply fundamentals right. A good grasp of market fundamentals needs to be supplemented these days with an awareness of the role of oil futures markets in price formation. This seminar’s objective is to examine the relative extent to which oil fundamentals and oil futures determine oil prices.
| Register now CGES One-day Seminar Oil price determination: futures markets or fundamentals?
18th October 2007 at the Carlton Tower Hotel, London Click here for more details |
| Order nowThe Future of Caspian Oil Exports Price: £950
Download this study instantly at the newly updated www.cges.co.uk |
Dear Colleague,
Enjoy an early bird discount when you register for the CGES One-day Seminar by 31st August 2007*. Click here to register now.
Many believe that understanding the movement of oil prices is no longer just a matter of getting oil’s demand and supply fundamentals right. A good grasp of market fundamentals needs to be supplemented these days with an awareness of the role of oil futures markets in price formation. This seminar’s objective is to examine the relative extent to which oil fundamentals and oil futures determine oil prices.
Join us at this event and you will enjoy closely argued discussions about the extent to which futures markets have exacerbated the recent oil price surge, the apparent de-coupling of the relationship between oil inventories and prices, and about the major oil producers’ lack of enthusiasm for hedging. Short- and long-term views of the oil market will also be presented, complemented by debates on key geopolitical issues.
Our confirmed speakers include:
- Albert Helmig, CEO, Grey House Consultants and former Vice-Chairman, NYMEX
- Edward Morse, Managing Director & Chief Energy Economist, Lehmen Brothers International
- Sally Clubley, Derivatives Associate, Invincible Energy
- Daniel Carr, Invincible Energy and Former Vice President of External Affairs, NYMEX
- Fredrik Voss, Director of Market Development, ICE Futures, London
- Tom Even Mortensen, Managing Director, IMAREX NOS ASA
- Luis Giusti, Member of the Board, CGES
Click here to register, or complete and return the attached form to fax number +44(0)20 7235 4338.
Alternatively, email marketing@cges.co.uk.
Kind Regards
CGES Marketing
*Discount applicable to pre-paid registrations only.
Full price of will be charged on all registration paid for after 31st August 2007.
CGES One-day Seminar
Oil price determination: futures markets or fundamentals?
18th October 2007 at the Carlton Tower Hotel, London
CGES One-day Seminar – Speaker confirmation
Louise Peacock louise.peacock@cges.co.uk
Tuesday, July 31, 2007
ADALAH: ISRAEL’S COLONIAL LAWS
July 31, 2007 at 10:10 pm | In Arabs, Globalization, History, Israel, Judaica, Zionism | Leave a Comment
Adalah adalah@adalah.org
Adalah’s Newsletter:
Colonial Laws
Tue, 31 Jul 2007
Volume 38, July 2007 www.adalah.org
Jewish National Fund:
Knesset Approves Bill on Preliminary Reading to Restrict Jewish National Fund Lands Exclusively to Jewish Citizens
On 18 July 2007, the Israeli Knesset approved on preliminary reading a racist bill that prohibits the sale of lands registered in the name of the Jewish National Fund (JNF) to Arab citizens of the state.
• The bill
• Adalah’s position
• Links and further information
Unrecognized Villages
Home Demolitions in Umm el-Hieran in the Naqab are Illegal and in Breach of the Principle of the Rule of Law
• Photographs of the demolitions
• UN CERD Concluding Observation on the unrecognized villages, 2007
Closure of Karni Crossing
Adalah to Supreme Court: Israel is Using Excuse of no Coordination with Palestinians to Withhold Basic Goods
Gaza Situation Reports:
• PSCC
• OCHA
• GISHA
Criminal Justice
Adalah to AG: Cancel Decision to Close Case of Police Brutality Against 66-Year Old Arab Man Protesting against Land Policies in the Naqab for “Lack of Public Interest”
Economic and Social Rights
Supreme Court Grants State Four Months to Provide Updated Information about Changes to Income Tax Law that Awards Tax Benefits to Towns Bordering Gaza
New Publication
The Accused – A Report Determining Criminal and Public Responsibility for the Killing of Arab Citizens in October 2000
Arabic | Hebrew | English (summary)
International Advocacy
Third Annual Review on Human Rights in EU/Israel Relations The Review | The Executive Summary
What is the impact of the EU-Israel Action Plan on Human Rights in Israel and the Occupied Palestinian Territories
The Report | The Executive Summary
——————————————————————————–
Adalah’s Newsletter is a monthly publication issued in Arabic, Hebrew and English. It highlights Adalah’s main activities, provides analysis of human rights issues, and links to new reports. Suggestions, articles and commentaries from our readers are welcome. View previous volumes
Arabic Version Hebrew Version Subscribe a Friend
Opening Remarks
Colonial Laws
On 18 July 2007, the Israeli Knesset approved on preliminary reading a racist bill that prohibits the sale of lands registered in the name of the Jewish National Fund (JNF) to Arab citizens of the state. According to the legislature’s logic, the JNF acquired these lands using Jewish money for the sake of Jews only. Firstly, this is untrue as the State of Israel transferred approximately two million dunams of land – seized and confiscated from Arab “absentee” owners – to the JNF in 1949 and 1953, via arbitrary laws. Secondly, the Knesset’s attempt to enact the JNF’s policy into law does not absolve Israel from its obligations under international law to refrain from legislating racist laws or including discriminatory bodies in official decision-making institutions. Israeli law allows the JNF to hold decision-making positions in the Israel Land Administration, for example. Significantly, two months ago the UN rejected the JNF’s application for consultative status on the ground that the JNF violates the principles of the UN Charter regarding human rights. Today, the JNF controls 13% of the land in the state, which allows for the establishment of Jewish-only towns. This new bill, alongside the racist Citizenship Law that forbids the unification of Arab families in Israel, are primarily and directly targeted against the native inhabitants of the country. They aim to preclude the development of the native inhabitants and to enable Israel to maintain control and ethnic supremacy for Jews in the fields of natural resources and entry into the state. Thus both possess the basic characteristics of colonial laws.
Interview
With former Adalah Attorney Marwan Dalal, appointed as a prosecutor to the ICTY
Register Now!
Adalah’s Second Annual Law Students’ Conference, 6-8 September 2007
The Al-Quds Human Rights Clinic
A Successful Inaugural Year, 2006/2007
Main office: PO Box 510 Shafa’amr, 20200 Israel Tel: (972)-4-950-1610 Fax: (972)-4-950-3140
Naqab office: 28 Reger Ave # 35 Beer el Sabe, Israel Tel: (972)-8-665-0740 Fax: (972)-8-665-0853
adalah@adalah.org www.adalah.org
Adalah adalah@adalah.org
Adalah’s Newsletter: Colonial Laws
Volume 38, July 2007 www.adalah.org
Tue, 31 Jul 2007
DUBAI PROPERTY BOOM
July 31, 2007 at 7:04 pm | In Arabs, Economics, Financial, Globalization, Middle East | Leave a Comment
Dubai’s $300B Property Boom May Slow On Power Demand
Tue, 31 Jul 2007
Editor’s Message
Electricity outages in Kuwait, lack of raw materials in Qatar and power and utility shortages in Dubai – are the Gulf states in danger of becoming victims of their own success as supply crunches come in their way?
Scarcity of basic supplies and skills has already delayed a number of projects and are creating bottlenecks for the new wave of developments under way. That could well lead to investors also waiting on the sidelines for the bottlenecks to ease up before they part with their cash.
Enjoy this week’s business news.
Editorial Team
THIS WEEK’S TOP STORIES
Dubai’s $300B Property Boom May Slow On Power Demand
Zawya Dow Jones Newswires – 31Jul 10:42GMT
Dubai’s $300 billion real-estate boom may be slowed as the Persian Gulf emirate’s state-owned power and water utility struggles to keep up with demand from residential and tourism projects, property developers say.
COMMODITIES NEWS
Enoc raises diesel price for 4th time in 40 days
Iran: 3 Steel Projects by Year-End
Algosaibi, Mubadala and Elval sign MOU
CONSTRUCTION & REAL ESTATE NEWS
Mohammed bin Rashid issues decree establishing real-estate authority in Dubai
High inflation to dent Dubai realty sector
Samsung wins Dh1.28b Palm Jebel Ali deal
Emaar cuts certificate charges by 90%
RTA says 60% of Dubai Metro work finished
Construction of 72 Business Bay towers under way
EQUITIES NEWS
Tamdeen, Qatar’s IBQ Reach Deal On AUB Stake
Saudi Investor Close To Buy Up To 20% Stake in MTC
Kingdom Holding Shares Rise 19.51% on Debut
Dubai Financial Offers $2.73/Shr For 60% Of Taib Bank
Emirates NBD to start share swap tomorrow
Indian realtors to float REITs on DIFX
FINANCIAL SERVICES NEWS
Dh1bn Investment Dar Bank launched in Bahrain
Dollars 1bn issue for Abu Dhabi’s first bond
Gulf bonds face rough weather
KSA Ministry Approves 2 New Firms With Cap SAR560M
Epicure Qatar Equity to list on London’s AIM
HEALTHCARE NEWS
Dubai Healthcare City Signs Agreement with Boston University
Dubai MoH to spend over Dh2 Bn in new medical facilities
Qatar set for implantation of electronic artificial limbs
Premier lays cornerstone for new Zarqa hospital
UAE, Indian firms form Dubai biopharmaceutical company
LEGAL NEWS
New property law could lead to more investments
Convention to discuss labour laws in GCC
Unified GCC States Trade Marks Law approved
Bahrain: Women’s Union presses for family law
74,800 labourers get legal status in Dubai
MONEY NEWS
20 billion dollar Saudi arms package to counter Iran: official
Kuwait’s Allows Dinar To Rise 0.16% Vs Dollar
Foreign investment in KSA at SR68.6bn in 2006
New Zealand hosts first round of FTA talks with GCC
Middle East Spending Nears $60 Billion
OIL & GAS NEWS
Sabic To Buy 35% Of Mauritania Mining Co
Aabar To Sell Drilling Firm Dalma For $446M To GulfCap
Kuwait Postpones Privatizing of KPC Sectors
Aramco To Invite Bids For $10B Manifa Oil Field In Aug
ARAMCO produces 8.1 million oil barrels daily
POWER & UTILITIES NEWS
Dubai Aluminum, Abu Dhabi Masdar To Monetize Carbon Emissions
GE Energy wins US$1.8 billion contracts for plants
Water prices won’t see increase, says UAE ministry
Emaar E C and Siemens sign Power Grid deal
MENA to invest $61.2 Bn in power, water sectors in 2007
Jordan ministers quit over water scandal
TELECOMS, MEDIA & IT NEWS
Qtel’s Unit Buys 49% Of Thailand’s Shenington
Kuwait To Allow Third Mobile Operator By Feb 2008
ictQATAR Launches Fixed Line Licensing Process
UAE Becomes 3rd Arab Country in Fixed Line
Etisalat To Bid ‘Fiercely’ For Qatar Licenses,Eyes Kuwait
Telecom regulator asks Batelco to cut charges
TRANSPORT NEWS
Middle East leads in passenger growth
Qatar Airways eyes more destinations in the US
Dubai World Central awards air traffic tenders
DAE quells concerns over Auckland airport bid
Emirates airline faces bad weather in Germany
TRAVEL & TOURISM NEWS
Over 270,000 Visit Taiba 28 Festival
IFA Hotels & Resorts Seeks $1B Global Projects
Haj Firms in Saudi are in a Catch-22 Situation
13 percent Saudis out of 20,000 Arab visitors to Lebanon
$2bn integrated resort to come up at Yenkit, Oman
zawya Premium
Inside Corporate Monitor
As Big As It Gets?
The largest airport in the Middle East according to passenger traffic achieved record breaking growth when it positioned itself the 10th top airport worldwide having carried 28.7 million passengers in 2006, a 16.17% increase from the same period last year. Dubai International Airport (DIA) aims to reach a 60 million passenger capacity by 2010 and to become the world’s largest super jumbo hub (A380’s) with more than 20 double-deck contact gates.
Inside MacroWatch
Latest report from
Sudan: Country risk summary – 26 July
More about a zawya Premium subscription
Research Monitor
FEATURED RESEARCH
Managers in Emerging Economies Winning on Pay
Special Contributions – July 2007
HayGroup argues that talent shortage and lower income tax rates in emerging economies are the main reasons behind the fact that managers in less developed economies enjoy higher disposable incomes than their western counterparts. The survey showed Saudi Arabia and the UAE topping the worldwide scale.
Read Research
More on Research Monitor
FEATURED RADIO INTERVIEW
Keith Bradley, Regional Head of Commercial Banking at HSBC, talks about escrow laws. Bradley explains what these new laws mean and why it is being welcomed by investors.
Dubai Eye – 29 Jul 2007
Sponsored by
As the 2nd quarter results for 2007 continue to roll-out, please visit our 2007 Reporting Season channel to keep abreast of the significant advances that have been made in the region’s equity markets.
ANALYSIS
Subprime haunts sukuk
‘Bubble economy ‘ defies gravity
Al Rajhi Bank in the spotlight
Tadawul Turnaround
Top Global Brands
Dubai’s $300B Property Boom May Slow On Power Demand
zawya newsletter@zawya.com support@zawya.com
Tue, 31 Jul 2007
SEPTEMBER 2007: THIRD ASIA REFINING CONFERENCE
July 31, 2007 at 4:29 pm | In Asia, Economics, Financial, Globalization, Oil & Gas | Leave a Comment
3rd Asia Refining Conference
6-7 September 2007
Singapore
“Evolving strategies for clean fuels demand and margins improvement”
MEES Announcements
CMT’s Asia Refining Conference, in its 3rd year, features not only insightful presentations from Major industry players, but also the latest & detailed analysis on GHG management in refinery!
Key focus :
- Perspective from China, India, Oman, Pakistan, Thailand and Vietnam on refining capacity and new/upgrading projects
Overcoming the global shortage of skilled professionals
Meeting hydrogen requirements
Efficiency achieved in an integrated petrochemical refinery
CO2 & emissions management in refining
Clean fuels specifications Where are we now?
Refiners Renewables Integration
Hear from High Panelist of Speakers:
Petrochina Planning & Engineering Institute
Star Petroleum Refining
Petrovietnam
Pak-Arab Refinery
Albemarle Asia Pacific
Wood Mackenzie
Belco Technologies
SpencerStuart
Fluor Enterprise
KBC Advanced Technology
Stratco Dupont Refinery Solutions
Air Products
ExxonMobil Research and Engineering
Chennai Petroleum Corporation Ltd
Sohar Refinery Company
6 – 7 September 2007
Hilton Hotel
Singapore
For more information on conference,
please do not hesitate to contact me at +65-63469140 or email to charmaine@cmtsp.co.sg.
Best Regards,
Charmaine Chin
Event Manager
MEES Announcements announcements@mees.com
On Behalf Of eMEESHeadlines@mees.com
headlines-list@mees.com eMEESHeadlines@mees.com
[eMEESHeadlines]
Conference Announcement:
3rd Asia Refining Conference
Tue, 31 Jul 2007
INDIA: BUSINESS RESEARCH FROM INDUS VIEW
July 31, 2007 at 5:51 am | In Asia, Economics, Financial, Globalization, India, Research | Leave a Comment
IndusView
INDIA BUSINESS
IndusView advises clients throughout the lifecycle of critical business decisions. Our principals have significant experience with Fortune 500 companies as well as small to mid-sized businesses in major western markets as well as in India. Our approach is to develop a fact-base, craft the appropriate strategy, and assist in implementing the proposed strategy on the ground.
Aviation industry consolidation unfolds $120bn opportunity
Moneycontrol.com
Date: June 12, 2007
M&As growing 28% annually
Business Standard
Date : April 8 ,2007
India
New Delhi
Sanjay Arya
W2, Greater Kailash – Part I,
New Delhi, India – 110048
Tel +91 11 4141 4105
Fax +91 11 2923 1660
Tel +91 98 1142 2657
sanjay.arya@IndusView.com
U.K.
London
Mariya Gibb
1 Hatton Street,
London NW8 8PL U.K.
Tel +44 20 7724 0777
Fax +44 7092 007 100
Mariya.Gibb@IndusView.com
U.S.
Boston
Jerry Gupta
16 Ernest Road Arlington,
MA 02474
Tel +1 617 669 6162
Jerry.Gupta@IndusView.com
San Francisco
Tel +1 415 508 5747
Press Enquiries:
Neeraj Atri
Tel: +91 11 41414105
Press@IndusView.com
LEWIS PR
Alicia Gonzales / Kath Pooley
Tel +44 (0)20 7802 2626
IndusView@lewispr.com
Subscription to The Indus View Publication:
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General Information:
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THE SCANDAL OF EMPIRE: BOOK
July 31, 2007 at 1:50 am | In Asia, Books, Globalization, History, India | Leave a Comment
The Scandal of Empire
India and the Creation of Imperial Britain
Nicholas B. Dirks
Many have told of the East India Company’s extraordinary excesses in eighteenth-century India, of the plunder that made its directors fabulously wealthy and able to buy British land and titles, but this is only a fraction of the story. When one of these men–Warren Hastings–was put on trial by Edmund Burke, it brought the Company’s exploits to the attention of the public. Through the trial and after, the British government transformed public understanding of the Company’s corrupt actions by creating an image of a vulnerable India that needed British assistance. Intrusive behavior was recast as a civilizing mission. In this fascinating, and devastating, account of the scandal that laid the foundation of the British Empire, Nicholas Dirks explains how this substitution of imperial authority for Company rule helped erase the dirty origins of empire and justify the British presence in India.
The Scandal of Empire reveals that the conquests and exploitations of the East India Company were critical to England’s development in the eighteenth century and beyond. We see how mercantile trade was inextricably linked with imperial venture and scandalous excess and how these three things provided the ideological basis for far-flung British expansion. In this powerfully written and trenchant critique, Dirks shows how the empire projected its own scandalous behavior onto India itself. By returning to the moment when the scandal of empire became acceptable we gain a new understanding of the modern culture of the colonizer and the colonized and the manifold implications for Britain, India, and the world.
Editorial Reviews
From Publishers Weekly
Dirks, dean of the faculty and a professor of anthropology and history at Columbia, sets out to dismantle the traditional explanation that Britain’s empire in India was, in the famous words of Victorian historian J.R. Seeley, acquired “in a fit of absence of mind.” According to Dirks, there was nothing accidental about Britain’s “conquest” of the subcontinent in the late 18th century. He argues that public exposure of the East India Company’s scandalous corruption by the philosopher and politician Edmund Burke during the Warren Hastings impeachment trial in 1788 persuaded the government to step in and administer what the British regarded as a vulnerable, backward territory. This intrusive, imperialist behavior, claims the author, helped cover up the “corruption, venality, and duplicity” of Britain’s presence in India, which was recast as a civilizing mission that also happened to benefit the British economy. In examining the Hastings case, Dirks scores many points, vaporizing comforting visions of a benevolent empire, and he expertly unravels the complexities of Burke—too often caricatured as a reactionary. Unfortunately, portions of the book are rendered too opaque for the general reader by Dirks’s political point scoring and his digressions into academic squabbles. 9 b&w photos, 1 map.
Review
Publishers Weekly: Dirks, dean of the faculty and a professor of anthropology and history at Columbia, sets out to dismantle the traditional explanation that Britain’s empire in India was, in the famous words of Victorian historian J.R. Seeley, acquired ‘in a fit of absence of mind.’ According to Dirks, there was nothing accidental about Britain’s ‘conquest’ of the subcontinent in the late 18th century. He argues that public exposure of the East India Company’s scandalous corruption by the philosopher and politician Edmund Burke during the Warren Hastings impeachment trial in 1788 persuaded the government to step in and administer what the British regarded as a vulnerable, backward territory. This intrusive, imperialist behavior, claims the author, helped cover up the ‘corruption, venality, and duplicity’ of Britain’s presence in India, which was recast as a civilizing mission that also happened to benefit the British economy. In examining the Hastings case, Dirks scores many points, vaporizing comforting visions of a benevolent empire, and he expertly unravels the complexities of Burke, too often caricatured as a reactionary.
The Scotsman: [The Scandal of Empire] return[s] to the early history of British rule in India to reveal a catalogue of corruption and pillage, at appalling human cost, yet laundered through outrageous myths of imperial self-sacrifice. Dirks is up-front about the parallels: for India you can read Iraq, for Warren Hastings, Halliburton. He makes a frankly polemical and yet powerfully persuasive case.
–Michael Kerrigan
The Nation : [Dirks] focuses mainly on eighteenth-century Britain and on one of its most dramatic political controversies, the impeachment and trial of Warren Hastings, the Governor-General of Bengal from 1774 to 1784…He tells the story passionately and with great intelligence…[A] brilliant series of reflections.
–Linda Colley
Times Literary Supplement: Nicholas Dirks’s The Scandal of Empire offered me an illuminating look at the historical origins of corruption and scandal in the Indian subcontinent.
–Siddhartha Deb
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TRADE-ARABIA BUSINESS NEWS
July 30, 2007 at 12:58 pm | In Arabs, Economics, Financial, Globalization, Islam, Middle East, Research | Leave a Comment
TradeArabia Business News
Update, Monday, July 30, 2007
Monday, July 30, 2007
Changing Kuwait’s currency peg from the dollar to a basket of currencies allows the exchange rate to track developments in global currency markets, the central bank governor said.
DAILY NEWSLETTER
HSBC says profits up 13pc, but bad debts jump
HSBC Holdings, Europe’s biggest bank, posted higher first-half profit and struck an upbeat tone on the global economy on Monday, despite a big rise in bad debts linked to its problems in the US housing market.
Kuwait says to track exchange markets
Changing Kuwait’s currency peg from the dollar to a basket of currencies allows the exchange rate to track developments in global currency markets, the central bank governor said.
Doosan to buy Ingersoll units for $4.9bn
US industrial conglomerate Ingersoll Rand has agreed to sell its Bobcat business and two other units to South Korea’s Doosan Infracore for cash proceeds of $4.9 billion, the two companies said.
More top stories
Oil prices ease below $77 on profit-taking
Robust growth for Bahrain banking sector
Jordan PM sacks two ministers
Aabar in $446 million deal to sell Dalma Energy
DI, Qatar firm in $20m glass venture
International Business News International News
Gold on defensive as funds nervous
Malaysia sees $51bn new investment
Doosan to buy Ingersoll units for $4.9bn
Japan’s Abe faces crucial poll test&
Brown stresses on strong ties with US
Stranded Palestinians to return to Gaza
Building and Construction
Turkish firm wins Amwaj Gate contract
$109m office tower work begins
60pc of Dubai Metro project complete
Travel, Tourism and Leisure
Etihad to fly daily to Johannesburg
ADNH net jumps 100pc to $71m
Airbus A380 lands in Abu Dhabi
Energy / Oil and Gas
Aabar in $446 million deal to sell Dalma Energy
Technip in $370m UAE gas deal
Moody’s upgrades Ras Laffan rating
Industry
DI, Qatar firm in $20m glass venture
Dubai to host major paper industry show
CPC to develop industrial zone in Egypt
Health
Mideast pharma market to hit $12bn by 2010
BinSina Pharmacy wins award
WHO report tackles children’s environmental health
Interiors
Jotun launches ‘Inspiration Centre’ in Bahrain
Smart homes ’save money’
Hospitality sector ‘seeks modern designs’
IT and Telecommunications
Nokia N800 Internet Tablet launched in UAE
Link receives Microsoft honour
IronPort names new sales manager
Property and Real Estate
Survey to study impact of inflation on real estate
Tameer unveils $122.5m project
Tamweel Q2 profit tops forecast, loans surge
Banking & Finance
HSBC says profits up 13pc, but bad debts jump
BMB net income rises 233pc
Robust growth for Bahrain banking sector
Retail and Wholesale
Saudi Q2 gold demand up 17pc
Giordano unveils Junior Summer Collection
Al Bustan sales rise 40pc
Economy
Kuwait says to track exchange markets
ADDI unveils new strategic plan
UAE to import $14.75bn US goods
Media and Promotions
Sharjah to host Malaysian Servcies Expo
New PR venture to use blog power
Ajram stars in latest Farfasha commercial
Capital Market
Ahli United shares surge on takeover bid
Saudi investor could take MTC state in Sept
Kingdom’s shares to list on July 29
Motoring
Egypt firm to manage GM call centre
Ford Edge ‘drives into top position’
KIA unveils new Pro-cee’d
Shipping and Transport
Al Quoz DHL business grows by 25pc
Dubai Customs proposes global award
Rail Agency trains UAE students
Defence and Security
US plans $20bn arms sales to Gulf states
TenCate and Gimaex back FDIC Bahrain
India accepts six Hawk trainers
Environment and Water
UK firm wins Dubai Recycling Park deal
Nakheel, EHS to develop marine lab
Environment programme for children
Food and Catering
Prices of basic commodities jump in UAE
Moulinex adds new features to ‘Genuine’
Abu Dhabi warns restaurants on food safety
Government, Laws & Statutes
Jordan PM sacks two ministers
Bahrain amnesty to begin on Sept 1
Bahrain amnesty may be delayed
Education, HR and Training
UK school fees rise 41pc in five years
Mohammed Bin Rashid Establishment relocates HQ
PDI opens office in Abu Dhabi
Agriculture & Farming
World sugar output set to rise
Sri Lanka halts India poultry imports
India reports new case of bird flu
CHINA & THE GULF: NEW BUSINESS
July 30, 2007 at 12:33 pm | In Arabs, China, Economics, Globalization, Islam, Middle East | Leave a Comment
US Dollar 20 billion Gulf investments with China in 2006, doubling trade exchange within 4 years.
Supporting investment relations between Shanghai and Ajman
H.H Sheikh Rashid Bin Humaid Al Nuaimi, Chairman of Ajman Municipality and Planning Department revealed Ajman’s plans to establish ambitious, strategic ties with Shanghai, in order to attract investment to the emirate, in all sectors including trade, manufacturing and services. During a seminar in Shanghai, organized by Tanmiyat Investment Group to encourage investment, trade and industrial exchange between Ajman and Shanghai, Sheikh Rashid addressed VIPs, top businessmen and government officials, stating that Chinese government institutions have been, in general, the most courageous in investing in the GCC, with billions of U.S Dollars in energy and infrastructure projects. He added that, while it is still performing below expectation, with 800 million U.S Dollars invested in the area, investment from the Chinese private sector is expected to increase.
Also present at the seminar, Mr. Ging Lang, Vice Chairman of Shanghai’s Chamber of Commerce and Industry, asserted that trade between UAE and China is growing at a healthy rate annually, and more opportunities for development still exist, particularly through the participation of the private sector, which is the driving force for any activity.
Sheikh Rashid highlighted the laws and regulations that attract investors to Ajman, pointing out the massive real estate projects involving the leading regional developers, and the promising growth that the emirate has witnessed in trade and industry as well as the huge strides made in all sectors.
He added that the bilateral trade ties between Ajman and Shanghai are still less than they could be, indicating the huge opportunities available to enhance mutual trade, increasing growth to more than the current annual rate of 25%.
He said, “Genuine opportunities exist for investment from countries like China. It is our belief that the private and public sector must work together in order to achieve maximum results in a business environment. We actively welcome and encourage interest and investment in Ajman and look forward to building partnerships with investors from China.”
Ging Lang welcomed Ajman’s delegation, and thanked Tanmiyat Investment Group for their initiative in supporting the seminar dedicated to enhancing trade and industrial relations between Ajman and Shanghai.
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ISLAMIC PROJECT FINANCE
THE 3RD ICT SECURITY FORUM IN SYRIA
With more and more companies being formulated in the Middle East finding a unique name is increasingly becoming more diificult. Naseem Javed, CEO of ABC Namebank discusses the importance of choosing the right name for a company. Click to read article
We would like to congratulate all the Banker ME Industry Award winners on their achievement. Click Here for the list of award winners
A1 Rating for DIFC Sukuk
Dar Al-Arkan; First Saudi Sukuk Issuer on DIFX
UAE Bank to Assist in Issuing Sukuk to Finance Pakistan Infrastructure Development
LMC Mandated to Oversee Al-Imtiaz Investment Company Sukuk
REAL ESTATE
Crown Prince of Sharjah Attends Tanmiyat Urban Planning Awards Ceremony at University of Sharjah
Emaar Turkey unveils Tuscan Valley Houses
GCC hunts for Asian assets
Bawadi deal to build Dh10bn shopping mall
ISLAMIC FINANCE
Dubai Islamic Bank Looks to U.S. for Shariah Compliant Investment Opportunity
270 Million Euro Murabaha Facility for Sudanese Mobile Operator
NCB Launches World’s First Shariah Compliant Titanium Mastercard
ABCIB Islamic Asset Management Announce Successful Sale of UK Islamic Commercial Real Estate Fund
MENAFN: MIDDLE EAST WEEKLY BUSINESS
July 30, 2007 at 4:24 am | In Africa, Economics, Financial, Globalization, Middle East, Research | Leave a Comment
MENAFN Newsletter eletter@menafn.com
Middle East Weekly Business Summary
Mon, 30 Jul 2007
Monday July 30, 2007 - Issue 288
News Section
Midyear pretax profit of Arab Bank Group nears half-billion-dollar mark
Jordan Times – Arab Bank Group’s (ABG) profit before taxes and provisions during the half-year ending June 30, 2007, grew by $67.5 million or 15.8 percent to $495.4 million, compared to $427.9 million in the same period of 2006.
Full Story
Telecom & Communication Finance & Banking
Mobily Hits Record of 3.5G with 1.8 Million Subscribers, MENAFN Press
Batelco Plans Saudi Investment, Arab News
Motorola, Microsoft to include Microsoft Dynamics AX, MENAFN Press
Apple sets 2008 iPhone sales goal, MarketWatch.com
U.S. wireless-phone customers more satisfied, MarketWatch.com
ictQATAR: Fixed line telecommunications license process begins, MENAFN Press
Bahrain to unleash telecom revolution, Bahrain Tribune
Technology
Microsoft buys online ad exchange AdECN Inc., MarketWatch.com
SpinBits develops Jordan’s first online career network, MENAFN Press
Hewlett-Packard to buy Opsware, Neoware for about $1.8 billion, MarketWatch.com
Duo of Google and Sprint could put AT&T in a headlock, MarketWatch.com
Economy
GCC’s foreign acquisitions to hit $60 billion, Khaleej Times
GCC is fast becoming a regional trading bloc due to recent FTA talks, Khaleej Times
KSA: SAGIA announces 51% rise in FDI to SR68.6 billion, Arab News
US second-quarter GDP rises 3.4%, fastest since early 2006, MarketWatch.com
Kuwait’s inflation rises to 5.37% in April, MENAFN
Delay in FTA to hit UK exports to Gulf region, Jordan Times
German inflation rises to 2.2% in July, MENAFN
Japanese trade deficit with Kuwait, Middle East shrinking, KUNA
GCC-New Zealand FTA talks begin, MENAFN
Abu Dhabi GDP to rise 8.2pc in 2007, Khaleej Times
Bahraini investors plan mega Asia investments, Bahrain Tribune
Travel & Hospitality
Hotel rating system to spur tourism – Qatar, Khaleej Times
Saudi Arabia Becomes Second Largest Market for Bentley Cars in Middle East, Arab News
Kingdom Hotel Investments acquires Four Seasons Hotel Jakarta, Asia Pulse
Jerash Festival Opening, Jordan Times
Harrah Rahat to Become Eco-Tourism Center – KSA, Arab News
RJ and four of its oneworld partners apply to DOT for antitrust immunity, MENAFN
Over 270,000 Visit Taiba 28 Festival – KSA, Arab News
Real Estate
UAE: Tameer launches all-Offices Silver Tower, MENAFN Press
Damac to invest in Egypt’s real estate sector, MENAFN
Clement Systems Gulf reveals the secrets behind the world’s first concrete floating bridge in Dubai, MENAFN Press
UAE: Palm Deira begins work on AED 300 million Corniche, MENAFN Press
Amwaj Gateway awards $140m deal to Turkish firm, MENAFN
Sakana joins hands with Durrat Al Bahrain, Bahrain Tribune
Arabtec receives letter of acceptance from Emaar for 212 villas valued at Dh163m, MENAFN Press
High Rise awards Dubai contract to Atlas, MENAFN
Emaar signs MoU with Siemens to set up power grid at King Abdullah Economic City, MENAFN Press
Nakheel awards $350m Jebel Ali contract to Samsung, MENAFN
ADC signs JD30m agreement with Jordan Engineers Association to develop Yemeniya heights MENAFN Press
Taameer to build major housing project in Zarqa, Jordan Times
Dubai International Capital plans $10b acquisitions, MENAFN
Dubai’s Istithmar to invest $2b through 2007, MENAFN
SFD provides SR 1209.5 million to developing countries, Saudi Press Agency
Global Posts $162m Profit – Kuwait, Arab News
Arab Bank signs $350m LoC- Oman, Bahrain Tribune
Tamweel’s $210m debut securitisation issue closes – UAE, Khaleej Times
QNB to raise $1.75bn term loan, The Peninsula
Masraf Al Rayan to launch industrial fund, The Peninsula
Gulf Finance House reports strong second quarter 2007 results, MENAFN Press
Islamic Finance News
Bahrain: Dar Bank set to open its doors, Arab News
Saudi firm lists second sukuk on the DIFX, Khaleej Times
Saudi Arabia’s Sukuk market poised to take off, Arab News
Dana Gas delays $1b sukuk pricing – UAE, Khaleej Times
Tabarak receives authorization from the Dubai Financial Services Authority, MENAFN
Saudi Arabia to Inject Funds Into Islamic Trade Financing Corp, Arab News
IPO
Looking at the next wave of Chinese tech IPOs, MarketWatch.com
Clothing maker Lululemon rallies 50%, raises $328 mln, MarketWatch.com
Oil and Energy
Kuwait raises Al Zour refinery budget to $14b, MENAFN
Qatargas 4 secures $4b to finance project, MENAFN
GE Energy wins $1.8b contracts for new power plants in Mideast, Khaleej Times
Drydocks World Dubai builds world’s largest semi-submersible drilling rig hull, MENAFN Press
GCC steel producers must merge for greater competitiveness, Khaleej Times
Sudan’s oil exports rise to 425,000 bpd, MENAFN
Advisory & Analysis
OPEC’s Reluctance Is Not Difficult to Understand, Arab News
The Main Engine of Saudi Arabia’s Growth, Arab News
UAE: Advisory sector registers strong growth in demand, MENAFN Press
Saudization Bankrupts Taxi Companies, Arab News
World is one hedge-fund collapse away from crisis, MarketWatch.com
Lack of Expertise Drives Women Out of Business – KSA, Arab News
Are on-time payment rewards worth it?, MarketWatch.com
IMF says world economy looking better, MarketWatch.com
Latin American equities suffer on housing, oil price worries, MarketWatch.com
Events & Conferences
Bahrain expo to be a big hit, Bahrain Tribune
Knowledge Economy Forum in Jeddah, Arab News
Iraq Reconstruction
Iraqi parliament passes crude oil refineries bill, KUNA
Minister: $140b of Iraq’s debts canceled, MENAFN
Iraqi firm to buy 15% stake in Kalimat, MENAFN
Iraq’s oil exports to US on the decline, MENAFN
Commodities & Oil Market
Item Quote
%Chg
July 22 July 29
Gold 682.8 661 -3.19%
Silver 13.38 12.6 -5.83%
As of Sun, Jul 29 2007 16:00 GMT more
Global Currencies Against USD
Currency Price
%Chg
July 22 July 29
GBP 2.056 2.024 -1.56%
EUR 1.3825 1.3383 -3.20%
JPY 121.27 118.61 -2.19%
CHF 1.1995 1.2099 0.87%
As of Sun, Jul 29 2007 16:00 GMT more
Market Information
Quote
DJIA 13265.47
NASDAQ 2562.24
S&P500 1458.95
FTSE 100 6215.2
NIKKEI 225 17283.81
As of Jul 29, 2007 16:00 GMT
Economic Indicators
Country Indicator Quote
Date
Cons Act/Prior
US – Auto Sales 5.5M 5.2M Aug 1
US – Factory Orders 1.3% -0.5% Aug 2
US – Unemployment Rate 4.5% 4.5% Aug 3
more
3 Month LIBOR
USD 5.3575
GBP 6.03438
EUR 4.24638
LIBOR:
1M 3M 6M 1Y
REPORTS BY REGION OR SECTOR:
WEEKLY REPORTS BY REGION OR SECTOR:
Economic & Strategic Outlook – India (Jul 2007) by GIH
Naeem Weekly Report (Jul 26) by NAEEM
Global Weekly Money Markets Report (Jul 27) by GIH
ASE Weekly Market Report (Jul 27) by GIH
The Investment Dar Equity Report (Jul 2007) by GIH
NBK Economic Brief (Jul 2007) by NBK Kuwait Economic Brief and Market Outlook (July 2007) by NBK
Oman Weekly Market Report (Jul 26) by GIS
PSE Weekly Market Report (Jul 26) by GIH
DSM Weekly Market Report (Jul 26) by GIH GCC Islamic Index Report (Jul 26) by GIH
Weekly Saudi Stock Market Report (Jul 26) by CCFI
UAE Economic & Strategic Outlook (Jul 2007) by GIH
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Financial Markets (Weekly Performance)
Region Best Performers
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Name % Chg Name % Chg
Middle East Saudi General Index 1.83% Dubai Securities Index -1.80%
North / Latin America Dow Jones Industrial Average -4.23% Mexico Index (USD) -7.34%
Europe Madrid Gen Index -2.21% FTSE 100 -5.62%
Asian/Pacific Jakarta Composite -2.87% ASX All Ordinaries -5.10%
details
Global Real Estate Transactions Hit Record $600 Billion
Global Real Estate Transactions Hit Record $600 Billion
US, Australian and Middle Eastern investors were the most prominent private capital investors into the global real estate market in 2006, whose emergence as a mainstream global asset class was further confirmed.
According the latest report by UK-based international property consultants DTZ titled “Money into Property”, estimated global real estate transactions hit a record high of $600 billion in 2006 — up 25 percent on 2005 and a staggering 150 percent on 2004.
This buoyant economic and financial climate was further boosted by the ready availability of credit and a build up of liquidity in the financial system, a prime factor behind the general buoyancy of asset markets in recent years, whether equity, bond, commodity or property related.
MENAFN Newsletter eletter@menafn.com
Middle East Weekly Business Summary
Mon, 30 Jul 2007
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