The National Bank of Kuwait (NBK) economic update report today foresees zero growth in Saudi Arabia’s nominal GDP in 2014 on lower oil prices and exports. Real GDP, however, is forecast to grow by more than 3 per cent in…
Author: Edmund O'Sullivan
I am a writer, author, economist and business person. I've reported on and done business in the Middle East since 1979 and travelled throughout the region. I specialist in reporting and writing, economic and media industry consultancy, business development and conference moderation.
Gulf Investment House forecasts higher growth and lower surpluses in GCC in 2014
GCC growth will quicken but the region’s surpluses will decline in 2014, according to the GCC Economic Overview for 2014 published by the Gulf Investment House. Aggregate GCC GDP is forecast to grow by 4.1 per cent in 2014 compared to…
AWCS told that $1.3bn marine works contract at new Fao port to be tendered by July; awarded by year-end
The annual MEED Arabian World Construction Summit (AWCS) was told this morning that the $1.3bn contract to deliver the marine works component of the first phase of Iraq’s new Grand Fao Port which is now under bid should be confirmed…
AWCS told that Makkah aims to complete metro network in 10 years
The annual MEED Arabian World Construction Summit (AWCS) in Dubai today was told that the deadline for the completion of the 124-kilometre Makkah Metro is to be reduced to 10 years rather than by 2029 as originally planned. “The clock…
AWCS told ENR plans $11bn 10-year investment programme
The annual Arabian World Construction Summit (AWCS) in Dubai today was told that the Egyptian National Railway (ENR) plans to invest 77bn Egyptian pounds ($11bn) in upgrading its network and operations in the ten years ending July 2023. The investment…
AWCS told Dubai faces TSE shortages this summer
Soaring demand for treated sewage effluent (TSE) produced by Dubai Municipality could lead to shortages this summer when demand from district cooling units and agriculture peaks, the annual MEED Arabian World Construction Summit (AWCS) was told this afternoon. Dubai municipality…
S&P forecasts Qatar bank lending to continue to grow at 10-15 per cent annually
Standard & Poor’s (S&P) Ratings Services said today that it believes that the annual rate of growth in lending by Qatar’s banks will continue to be about 10-15 per cent. “Qatari banks’ profitability will likely remain strong over the next…
AWCS told that GCC needs a new approach to delivering megaprojects
The annual MEED Arabian World Construction Summit (AWCS) was told today that the GCC needs to develop a new approach to delivering megaprojects and establish institutions that can capture information about them. “Building roads is demanding but not complex,” said co-founder…
AWCS told Egypt seeking to press on with PPP projects
The annual MEED Arabian World Construction Summit (AWCS) in Dubai was told today that Egypt is pressing on with plans for major public-private partnerships (PPPs) and there is evidence that donor and commercial financial support will be available for them.…
AWCS told Kuwait must create new towns outside the metropolitan area
Kuwait has no option but to create new towns outside the existing 810-square kilometre metropolitan area where more than 90 per cent of Kuwait’s present population of 4m now lives, the annual Arabian World Construction Summit (AWCS) in Dubai was…