search the site
 daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > Continental Forums > Middle East

Middle East » Bahrain | Israel | Iran | Iraq | Jordan | Kuwait | Lebanon | Qatar | Saudi Arabia



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old January 21st, 2016, 03:29 PM   #21
Kutsuit
In the brig
 
Join Date: Mar 2011
Location: Kuwait City; London
Posts: 3,063
Likes (Received): 9011

China, Gulf to speed up free trade talks

http://www.al-monitor.com/pulse/cont...my-trade.html#



Quote:
China and the oil-dependent Gulf monarchies said on Wednesday they would accelerate talks on a free trade deal which has been under negotiation for more than a decade.

The announcement, in a joint statement, came during a visit to Saudi Arabia by Chinese President Xi Jinping.

"China and the GCC (Gulf Cooperation Council) have decided to accelerate the pace of negotiations, review the progress made and hold the next round of negotiations in the second half of February 2016," the statement said.

"China and (the) GCC also commit themselves to work closely to conclude a comprehensive Free Trade Agreement within the year of 2016."
Quote:
The GCC comprises Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia.

Trade between the Gulf and China, the world's second-largest economy, has been growing.

Two-way trade between China and Saudi Arabia alone reached $69.1 billion in 2014, according to China's official Xinhua news agency.

Plunging global oil prices are forcing economic reforms in the traditional ly oil-dependent Gulf economies, as China expands its economic and political ties with the Middle East.
__________________

hamadx liked this post
Kutsuit no está en línea   Reply With Quote

Sponsored Links
Old January 22nd, 2016, 12:21 AM   #22
Kutsuit
In the brig
 
Join Date: Mar 2011
Location: Kuwait City; London
Posts: 3,063
Likes (Received): 9011

GCC working on joint missile defense: Bahrain

http://english.alarabiya.net/en/News...e-Bahrain.html

Quote:
Gulf Arab states are cooperating on regional missile defense and hope to announce the results soon, a Bahraini officer said on Wednesday, suggesting progress in long-stalled efforts to create a cross-border approach to counter Iran's growing missile capabilities.
Kutsuit no está en línea   Reply With Quote
Old April 9th, 2016, 07:59 PM   #23
Waleed-fahad
Registered User
 
Join Date: Feb 2013
Posts: 1,339
Likes (Received): 1738

مقارنه مساحة الخليج باوربا

Waleed-fahad no está en línea   Reply With Quote
Old May 5th, 2016, 01:34 AM   #24
Kutsuit
In the brig
 
Join Date: Mar 2011
Location: Kuwait City; London
Posts: 3,063
Likes (Received): 9011

Gulf States put brakes on joint-GCC railway plan

http://www.alaraby.co.uk/english/ind...c-railway-plan

Kutsuit no está en línea   Reply With Quote
Old May 5th, 2016, 02:53 AM   #25
hamadx
Registered User
 
Join Date: May 2013
Posts: 455
Likes (Received): 1418

Sad news indeed

However, Oman should be more interested in going forward with the project. If tourism is their post-oil big economy, a railway for Gulf (especially Saudi) tourists is essential.
hamadx no está en línea   Reply With Quote
Old March 16th, 2017, 10:29 PM   #26
John07
Registered User
 
John07's Avatar
 
Join Date: Jul 2011
Location: Edinburgh/Glasgow/London/Muscat
Posts: 664
Likes (Received): 108

Quote:
Originally Posted by hamadx View Post
Sad news indeed

However, Oman should be more interested in going forward with the project. If tourism is their post-oil big economy, a railway for Gulf (especially Saudi) tourists is essential.
Absolutely.

I am working in Muscat at the moment and the scenery is spectacular. The people are lovely.

What Oman needs is a decent public transportation system for tourists and residents alike.
__________________

hamadx liked this post
John07 no está en línea   Reply With Quote
Old September 12th, 2017, 01:18 AM   #27
Kutsuit
In the brig
 
Join Date: Mar 2011
Location: Kuwait City; London
Posts: 3,063
Likes (Received): 9011

Value of ongoing GCC construction projects at $2.4 trn

http://saudigazette.com.sa/article/517014/BUSINESS/GCC

Quote:
DUBAI — Total value of 21,893 active construction projects in the GCC reached $2.4 trillion (Dh8.8 billion) at the beginning of September 2017, according to according to BNC Network, the largest and most comprehensive project research and intelligence provider in the Middle East and North Africa (MENA) region.

Of these, the total value of urban construction projects reached $1.18 trillion (Dh4.34 trillion) in September 2017, BNC Construction Intelligence report shows – reflecting the buoyancy of the project market and the fact that the governments of the six Gulf countries are determined to carry out the important infrastructure projects.

The urban construction contracts constitute 80 per cent of the contracts awarded for all sectors in GCC and in dollar terms this translates to 49 per cent of the total contracts awarded.

“The governments and the private sector developers of the GCC region appears to be unmoved by the slowdown in the global economy and the lower oil price environment. Our latest GCC Construction Intelligence report shows that the projects are going ahead despite the challenging global economic situation," Avin Gidwani, Chief Executive Officer of BNC Network, said. “This is very good news for the businesses considering the overall global economy where countries are trying to push the economic growth rate to a slightly higher level.

“The continuation of these projects, worth Dh8.8 trillion, will keep many businesses, especially the sub-contractors, suppliers remain in business and help save millions of jobs across the region. If these projects continues as planned, the region will not only be saved from a possible recession and job losses, but also these will ensure stronger economic growth across the region,” he added.

The GCC constitutes 85 per cent of all active projects in the MENA and in dollar terms, these projects account for 68 per cent of the total estimated value.

The report, released on the eve of the Cityscape Global exhibition that takes place at Dubai World Trade Centre on September 11-13, is expected to see a flurry of new project announcements.

“Over the last few days, we have seen a number of new projects being announced, including a Dh24 billion mixed-use master-planned project in Sharjah, in addition to a Dh3 billion new neighborhood near the University City at Juraina in Sharjah as well as a Dh1.5 billion tower to be managed by Shuaa Capital,” Avin Gidwani said.

“Earlier, Wasl Asset Management Group has announced Wasl 1 – a new mixed-use freehold community next to Dubai World Trade Centre – that expands the freehold areas into the traditional downtown of Dubai.

“These are exciting times for all those living in the GCC and the UAE – where most of the economic development activities are happening and we are passing through an exciting time.”

Value of the oil and gas projects in the oil-rich Gulf region has reached $331 billion (Dh1.21 trillion), while the total value of utility project in the Gulf reached $302 billion (Dh1.1 trillion) in September 2017, the report shows.

Total value of industrial projects reach $181 billion (Dh666.47 billion), according to BNC Network, which will help the region to become self-reliant and less dependent on imported products – as the completion of the industrial projects mean they will produce value-added products.

“Events like Dubai Expo 2020 along with stabilization of the oil price and the drive of the various GCC countries to achieve economic diversification and increase in the living standards will play a vital role in the construction industry contract awards,” Gidwani says.

“As the economic growth is expected to pick up pace next year, we expect an increased construction activity across the board in 2018. New project announcements by major developers that have taken place from 2016 till now – will go into tender next year and trigger increased construction activities across the GCC.”

In August, the number of active projects in the GCC increased by 2 per cent as compared to July, 2017 and the total estimated value of these projects increased by 1 per cent.

“These are a reflection of the ground realities of the GCC economy – and shows that the Gulf countries are investing their wealth more carefully and intelligently, to build a brighter future and more sustainable economies,” Gidwani says.

A total of 142 active projects with a combined estimated value of $14 billion moved to construction from other stages during the month. The largest project to be awarded in August was Phase 1 of Duqm Oil Refinery located in Oman worth $2.75 billion

A total of 596 active projects with a combined estimated value of $13 billion were completed during the month. The largest project to be completed in August was the Presidential Palace project located in Abu Dhabi.

In August, 90 active projects with a combined estimated value of $15.6 billion were put on hold in the GCC. The largest project to be put on hold was Section 1 of Phase 1 of Makkah Mass Rail Transit (MMRT) System located in Makkah, Saudi Arabia

BNC, the largest project intelligence provider in the MENA region, tracks 25,324 live construction projects with a value exceeding $7.2 trillion (Dh26.4 trillion). It publishes more than 250 project updates that are distributed amongst 73,000 executives and professionals every day. — SG
__________________

inoculate liked this post
Kutsuit no está en línea   Reply With Quote
Old September 16th, 2017, 04:04 AM   #28
Kutsuit
In the brig
 
Join Date: Mar 2011
Location: Kuwait City; London
Posts: 3,063
Likes (Received): 9011

GCC economic growth forecast to strengthen from 2018

New report says the UAE and Qatar will outperform the rest of the Gulf region over next 5 years


http://www.arabianbusiness.com/polit...then-from-2018

Quote:
Economic growth in the GCC will strengthen from 2018 onwards, with the UAE and Qatar outperforming the rest of the region. according to new research.

Analysts BMI Research said the factors that have weighed on expansion this year - hydrocarbon production cuts and lower-for-longer oil prices - will ease in 2018, boosting government revenues and improving consumer and investor confidence across the region.

It added that Qatar and the UAE will be the growth outperformers over the next five years.

BMI said it expects economic growth to pick up in all Gulf Cooperation Council (GCC) member states over the medium term (2018-2021).

"We forecast an annual aggregate average of 2.8 percent real GDP expansion over the period - a recovery from the 1.5 percent we forecast in 2017," it said in the research note.

It added that growth will underperform this year (from an average 2.5 percent in 2016) - owing to the OPEC, non-OPEC agreement to curb oil production, and lower oil prices than we initially anticipated.

The UAE and Qatar will outperform the region over the years ahead, as strong fiscal positions enable their governments to invest heavily into diversification and infrastructure development programmes. While Bahraini growth rates are likely to also remain robust, the country is exceptionally vulnerable to external shocks, given its wide budget deficits, high debt and reliance on Gulf funding, BMI noted.

Gradually rising global hydrocarbon prices will be a key driver of growth in the GCC over the years ahead, it added, as hydrocarbons account for over half of government revenue in all member states, and prices therefore have a major impact on public spending.

However, higher hydrocarbon prices will be insufficient to fully mitigate the effects of hydrocarbon production cuts for most Arab Gulf economies in 2017. The OPEC, non-OPEC agreement has been extended to March 2018, as its effect on the drawdown of global oil stockpiles has been slow to materialise, and this will lead to flat or declining oil production growth across the GCC in the near term.

BMI said this trend is taking its toll on Saudi Arabia, Kuwait and Oman, in particular, for which are forecast to see real GDP expansions slow to 0.0 percent, 0.3 percent and 1.2 percent respectively in 2017, from 1.7 percent, 1.9 percent and 3.1 percent in 2016.

"Over the medium term, however, we forecast economic growth to accelerate across the region, as hydrocarbon prices pick up further and curbs on oil production ease. While growth in hydrocarbon production will remain relatively slow throughout the next decade, higher prices will boost confidence and
government investment into the development of non-hydrocarbon sectors in all GCC states," BMI added.
Kutsuit no está en línea   Reply With Quote
Old September 19th, 2017, 03:47 PM   #29
shayan
Prince of Persia
 
shayan's Avatar
 
Join Date: Oct 2005
Location: Shiraz, Amsterdam
Posts: 1,943
Likes (Received): 34

^ Lol.
__________________
sixty years ago, upon the invitation of the Russian Red Cross, Princess Ashraf Pahlavi, twin sister of the Shah of Iran, went to see Stalin in order to demand the retrieval of Soviet invading forces from Iran. The princess entered the Kremlin where she pleaded with great passion for the liberation of Iran, her motherland. Impressed by her courage, Stalin became all smiles. He said loudly to his rather stern entourage: "Now here is a brave and true patriot." Pravda, June 28, 1946.
shayan no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 12:54 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu