For full coverage of Middle East business, see MEED Kuwait’s current account will move into a deficit of 1 per cent of GDP in 2016 due to lower oil prices and continuing import growth, National Bank of Kuwait (NBK) said…
Month: June 2016
Gulf trims nuclear power plans
Emirates Nuclear Energy Corporation is due to start operating in 2017 For full coverage of Middle East business, see MEED Ambitious plans for nuclear energy in the Gulf are foundering on technical and political challenges and the rise of renewables…
Saudi Arabia aims to lift gas consumption
For full coverage of Middle East business, see MEED Saudi Aramco aims to increase the share of gas in the domestic energy mix to 70 per cent and could import gas to meet the kingdom’s needs, Saudi Arabia’s Energy Minister…
KRG develops means test as public spending tumbles
For full coverage of Middle East business, see MEED The Kurdistan Regional Government (KRG) of Iraq is developing a proxy means test (PMT) to target subsidies and benefits as it acts to cut spending and reduce the number of people on…
Dubai Investments seeks $300m loan
For full coverage of Middle East business, see MEED Dubai Investments chief executive Khalid bin Kalban said yesterday that the conglomerate is in talks with banks for a $300m loan that would go towards financing its Mirdif Hills project in…
Qatar Airways cancels Airbus A320 neo order
For full coverage of Middle East business, see MEED Qatar Airways chief executive Akbar al-Baker said today that the Qatari national carrier has cancelled its first Airbus A320neo jet and remains at an impasse with the European planemaker over delays…
Saudi ministries get Vision deadline
For full coverage of Middle East business, see MEED Saudi government departments and executive agencies have been given two weeks to remove “obstacles” to the delivery of the kingdom’s Vision 2030 unveiled in April by Crown Prince Mohammed bin Salman,…
Oman to raise $3.4bn through PDO, considers bond
For full Middle East business coverage, see MEED The Omani government is seeking to raise a loan of about $3.4 billion via state-owned Petroleum Development Oman (PDO) and is considering selling international bonds, Bloomberg reported yesterday. The company, which is…
Saudi east-west oil line to go to 7m b/d
For full coverage of Middle East business, see MEED Saudi Arabia is acting to reduce its dependence upon exporting oil through the Gulf and enhance its capacity to confront Iran in the wake of the relaxation of nuclear-related sanctions against the…
Iran to invite oil field development bids
For full coverage of Middle East business, see MEED In a long-awaited initiative to encourage foreign company participation in its upstream projects, Iran plans to invite international companies to bid for oilfield development rights in June, the Islamic Republic News Agency (Irna) reported this…