KUWAIT: MONTHLY OIL AND MONEY MARKET REPORT
May 9, 2007 at 10:17 pm | Posted in Arabs, Economics, Financial, Globalization, Middle East, Oil & Gas | Leave a comment
Monthly Oil and Money Market Report
“KAMCO Research”
KAMCO Research Kamco_Research@kamconline.com
Wednesday, May 9, 2007
Kindly find attached the second issue of our:
Monthly Oil & Money Market Report for April 2007.
Kind regards
Investment Research Department
Investment Advisory & Research Division
Monthly Oil and Money Market Report
“KAMCO Research”
KAMCO Research Kamco_Research@kamconline.com
Wednesday, May 9, 2007
Street Address:
KIPCO Asset Management Co. K.S.C (Closed)
Al-Shaheed Tower
Floors: Ground, M1-M2, 2, 12 – 14
Khalid Bin Waleed Street, Sharq
Kuwait Postal Address:
P.O. Box 28873, Safat 13149, Kuwait
Telephone & Fax:
| General: | (+965) 805 885 |
| Asset Management: | (+965) 246 8299 |
| Financial Services: | (+965) 244 7195 |
| Client Relations: | (+965) 249 1923 |
| Marketing: | (+965) 243 6723 |
| Investment Research: | (+965) 241 8074 |
| Fax: | (+965) 244 5918 |
Email Addresses:
| General | info@kamconline.com |
| Marketing | marketing@kamconline.com |
| Asset Management | tpm@kamconline.com |
| Corporate Finance | cf@kamconline.com |
| Client Relations Department | clientrelations@kamconline.com |
Wednesday, May 9, 2007
Monthly Oil and Money Market Report
INTERGAS IV CONFERENCE: CAIRO
May 9, 2007 at 6:11 pm | Posted in Economics, Financial, Globalization, Middle East, Oil & Gas | Leave a comment
INTERGAS IV Conference
15 – 16 May 2007
CICC
Cairo International Conference Centre
Under the High Patronage of H.E. Eng. Sameh Fahmy, Minister of Petroleum and Mineral Resources, Egypt.
Only 2 weeks to go until Egypt’s largest ever Oil & Gas Conference and Exhibition.
To book your place CLICK HERE
INTERGAS IV Conference, 15 – 16 May 2007, CICC
We are pleased to announce that attending the opening ceremony for Intergas IV are:
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Representative for H.E. Viktor B. Khristenko, Minister of Energy & Industry, Russia H.E. Mohamed bin Dhaen Al Hamili, Minister of Energy, U.A.E |
This prestigious event brings together international companies and high level Egyptian officials to discuss current and future strategies within within Egypt’s hydrocarbon industry. The key focus will be investment opportunities and driving projects forward. Industry leaders will give delegates an invaluable insight into the market place and plans for the future.
| Speakers include: H.E. Sameh Fahmy, Minister of Petroleum and Mineral Resources, Egypt H.E. Maged George, Minister of State for Environment Affairs, Egypt Eng. Sherif Ismail, Chairman, EGAS Eng Abdel Aleem Taha, Chairman, EGPC Eng. Sanaa El Bana, Chairperson, ECHEM Zainul Rahim, Chairman, SHELL COMPANIES IN EGYPT Eng. Enrico Cingolani, General Manager, IEOC Hesham Mekawi, Chairman, BP EGYPT Ian Hewitt, President, BG EGYPT Luigi Marcon, Head of the Regional Office (Cairo), EUROPEAN INVESTMENT BANK Hesham Raafat, CEO, ORIENTAL PETROCHEMICALS COMPANY Stephanie Hudson, Director – Global Industry Co-ordination Team (Oil & Gas) Project and Export Finance, STANDARD CHARTERED BANK Hussein Khattab, Chief Executive Officer, E-Methanex Jean Abiteboul, Executive Director, CHENIERE LNG INTERNATIONAL Ikhlas Abdul Rahman, Country Manager, PETRONAS |
For the full programme click here
Hot topics covered in the agenda include:
The latest news and future plans of international operators in Egypt’s hydrocarbon sector
Financing energy projects in Egypt
Maximising Egypt’s position as a key player in international oil and gas markets
Opportunities in the domestic hydrocarbon market in Egypt
The thriving Egyptian petrochemicals industry – opportunities for national and international players
To make the most of your participation in INTERGAS, make sure you attend the social events that will provide the ideal setting for you to exchange ideas and strengthen relationships with your industry peers in a friendly atmosphere.
There are still a very limited number of sponsorship opportunities available, for more information of how you can raise your company’s profile at INTERGAS IV contact:
Ed Renshaw today on +44 20 7978 0081
To register for further information on the strategic conference please click here
Exhibition – Come and Join us at INTERGAS IV 15 – 17 May 2007
The INTERGAS IV Exhibition has been sold out for months and the participants are anticipating a fantastic event. All the major companies in Egypt and more than 200 from around the world look forward to welcoming you on to their stands. Please click here to see the latest floorplan.
Visiting the INTERGAS IV Exhibition is easy and complementary for all trade visitors. On arrival at the Cairo International Conference Centre you will be given a personalised badge and a copy of the official INTERGAS IV Catalogue. The exhibition is open to trade visitors at the following times:
15th May 13:00 18:00
16th May 10:00 18:00
17th May 10:00 16:00
For further information please email Estelle Bourguignon,
ebourguignon@thecwcgroup.com
or call tel: +44 20 7978 0079
INTERGAS IV Technical Sessions, 17 May 2007
Held alongside the exhibition at the Cairo International Convention Centre, the INTERGAS IV technical sessions will be held throughout the day on 17th May. The technical sessions will allow more than 200 participants to attend with Q&A opportunities designed to enhance levels of specific expertise within the industry. The presentations will cover the latest technologies and best working practices For the call for abstracts please click here
eMEESHeadlines
Conference Announcement: INTERGAS IV
MEES Announcements announcements@mees.com
Wed, 9 May 2007
QIZ: QUALIFIED INDUSTRIAL ZONE
May 9, 2007 at 4:53 am | Posted in Economics, Financial, Globalization, Israel, Middle East | Leave a comment
Qualified Industrial Zones (QIZ)
Qualified Industrial Zones (QIZ) is a unilateral act by the USA in an innovation designed to encourage Jordanian exports to the U.S market, thus inviting National and International Companies to take advantage of this unprecedented initiative enabling Jordan to offer a unique opportunity to all Manufacturers. This concept allows goods manufactured in these Zones to enter the USA Duty free & Quota free thus offering a unique opportunity to all International Manufacturers to move their Industries to these Zones.
The advantages of the QIZ are numerous:
– Assures Duty and Tariff free access to the US market.
– No Quotas on export to U.S. market for products manufactured in the QIZ.
– Total Income and Social Tax exemption.
– Imported materials are not subject to Custom Duties.
– No restriction on Project ownership.
– No restriction on Foreign Currency transactions.
– No time limits or renewal requirements for QIZ’s.
– Full repatriation of capital , profits and salaries.
U.S. customs tariff on certain goods entering the USA that will be saved by the Investor in the QIZ for certain items are as follows:
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1-From 25% up to 48% on Footwear:Waterproof , with metal Toe-cap, covering the knee, Sports Footwear, designed for use without closure, Work Footwear, Footwear with open toes or open heels, Footwear of the slip-on type, and parts of Footwear. |
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2-From 20% up to 33.6% on Woven Fabrics, Textiles, Garments, Swimwear, Body suits, Shirts, Trousers, Suits, Jackets, Raincoat, Underwear, Blouses, Skirts, Blazers, Ski-suits, Anoraks, for both women & men. |
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3-From 18% up to 34% on Tableware, Kitchenware, other Household and Toilet articles of Porcelain or China, Hotel or Restaurant ware, Glassware ,Ceramic tableware, Glass ceramics, Drinking glasses, other Glassware of Lead crystal. |
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4-From 6% to 20% on Trunks, Suitcases, Attache Cases, Wallets, Handbags. |
| 5-From 10% to 20% on Cheeses. |
Qualifying your product:
To qualify a product in the QIZ, contents of any product produced in the QIZ must represent a minimum of 35% of the appraised value.
There are three methods to comply with the requirements:
| First: | of the 35% minimum QIZ content, the breakdown must be not less than: 11.7% from a Jordan QIZ 8.0% from Israel (7% for high tech goods). The remaining content, to reach the 35% total required, may come from either a Jordan QIZ, Israel, USA or West Bank/Gaza. |
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| Second: |
The Jordanian and Israeli manufacturers may each maintain at least 20% of the total production cost of the QIZ manufactured goods (excluding profits). Production costs may include (Raw materials, Packing materials),Wages and Salaries, Design and R & D. |
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| Third : | Mixing and matching of the two above methods is also allowed. |
Important Note:
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In apparel manufacturing, imported fabric can be considered as local (made in QIZ) raw material if double substantial transformation occurs locally. Double substantial transformation in the case of fabric can be cutting and sewing. It is important to note that the cost of the fabric that is cut and sewn locally will be admissible when calculating the 35% minimum value added content requirement (the primary requirement). It will not, however, be taken into consideration when calculating the respective share of each country under the first method. |
The first zone designated in Jordan as QIZ was the Al-Hassan Industrial Estate in March 1998. The success of that Zone was phenomenal as all the area was occupied by Local and International Manufacturers. The demand for these areas are increasing tremendously as International Manufacturers have become aware of the advantages to move their facilities to such Zones. Due to that success other areas in Jordan were designated as QIZ including the Ad-Dulayl Industrial Park, a park which is ready to accommodate industries right away.
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