Arab British Chamber of Commerce Newsletter 4

Arab-British Business Volume 35 Issue 4 Winter 2012 Monthly bulletin of the Arab British Chamber of Commerce Gulf to spend up to $100bn on railway projects See report page 19

Dubai Metro

CHAMBER NEWS

NEW MEMBERS

Monthly bulletin of the A-BCC Editorial Team Abdeslam El-Idrissi Cliff Lawrence David Morgan Dr Yasmin Husein Arab-British Chamber of Commerce 43 Upper Grosvenor Street London W1K 2NJ Tel: +44 (0) 20 7235 4363 Fax: +44 (0) 20 7245 6688 d.morgan@abcc.org.uk (English Editorial) y.husein@abcc.org.uk (Arabic Editorial) www.abcc.org.uk

Production & Design Distinctive Publishing 6th Floor Aidan House Sunderland Road Gateshead NE8 3HU Tel: 0845 884 2385 www.distinctivepublishing.co.uk

Aspen Healthcare Solutions Ltd Birmingham Research Park Vincent Drive Edgbaston BIRMINGHAM B15 2SQ Tel: +44(0)121-414 7067 Email: mmoran@aspenhealth.co.uk Website: www.aspenhealth.co.uk Contact Mr Mike Moran MBE Chief Executive Officer Business Activity: Provision of healthcare services to governmental and nongovernmental organisations London Procurement Resources Mayfair Chambers 2 Charles Street LONDON W1J 5DB Tel: +44(0)20-3463 4599 Fax: +44(0)20-3463 4594 Email: amine@lpr.uk.com Website: www.lpr.uk.com Contact Mr Amine Khalil Director Business Activity: Specialist in equipment and materials procurement for the Petroleum, Energy and Power industries, in-house expertise in procurement management.

The Universal Group 86 Rafaelo Batino SKOPJE 1000 Macedonia Tel: +389 220 40518 Email: info@theuniversalgroup.net Website: www.theuniversalgroup.net

Contact Mr Simon Harris, CEO Business Activity: Multi-jurisdictional legal support for over 140 jurisdictions; notary service, oaths, power of attorney, cross border contracts, ITT and tender response validation, legalisation, corporate governance, company secretarial and precedent document services.

Baker Hughes Limited 3rd Floor, Building 5 Chiswick Park 566 Chiswick High Road LONDON W4 5YF Contact Tel: +44(0)20-3009 9032 Email: paul.stokes@bakerhughes.com Website: www.bakerhughes.com Contact Mr Paul Stokes, Company Secretary Business Activity: Top-tier oilfield services company creating value from oil and gas with high-performance drilling, evaluation, completions and production technology and services, integrated operations and reservoir consulting.

Associate Member Mr Richard Rainey Unwin Le Clos Fontaine Petit Sark SARK Channel Islands GY10 1SD Email: mainstrategy@gmail.com Contact Mr Richard Rainey Unwin, President

CONTENTS Chamber News

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Members’ News

10

Distinctive Publishing

Business & Project News

12

Tel: 0845 884 2331

UK-Abu Dhabi Cooperation

16

Karen.hall@distinctivepublishing.co.uk

Water Sector

18

Disclaimer

Gulf Railways

19

Distinctive Publishing or Arab-British Chamber of Commerce cannot be held responsible for any inaccuracies that may occur, individual products or services advertised or late entries.

No part of this publication may be reproduced or scanned without prior written permission of the publishers and Arab-British Chamber of Commerce.

Law Reports

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Saudi Life Insurance

24

Tenders

26

E-commerce

29

Business Events and Trade Fairs

31

Advertising

ISSN No: ISSN 0958-8116

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CHAMBER NEWS

ROUNDTABLE ON COOPERATION IN THE UAE MEDICAL SECTOR The Arab British Chamber of Commerce was pleased to host a roundtable discussion on opportunities for joint ventures and commercial co-operation in the UAE medical sector.

Dr Afnan Al-Shuaiby, ABCC Secretary General & Chief Executive, chaired the seminar which was organised to enable representatives from some leading UK medical and healthcare companies to engage in discussions with Mr Jamal Abdalaziz Al Owais, the Medical Attaché at the UAE Embassy in London.

The roundtable, which took place at the Chamber’s premises on 8 November, acted as a platform to explore latest developments in the UAE medical sector and provided insight into some of the opportunities that are available to UK companies.

Dr Al-Shuaiby said that the decision to hold the event was part of the ABCC’s continuing efforts to help promote trade and investment links between the United Kingdom and the Arab countries.

rehabilitation and preventative medicine, diabetes solutions, legal consultancy services, medical training and knowledge transfer, online materials, pharmaceuticals suppliers, patient accommodation, life sciences and medical technology and private hospital services.

Participants in the discussion included ABCC member companies in the medical sector, representatives of public and private sector firms and professional bodies such as the British Medical Association.

Key issues of concern to potential UK investors that emerged involved legal matters relating to contracts and setting up in the UAE and the need for more detailed knowledge about the market.

It was a new departure for the ABCC to focus in detail on one specific sector rather than to look more broadly at a particular market, she said.

Mr Jamal Abdalaziz Al Owais pointed to the development of the medical free zones in the UAE, citing the examples in Sharjah, Abu Dhabi and Dubai, as these offered few restrictions on the activities of companies located there.

The interests and activities of the companies taking part ranged widely and included experts dealing with medical insurance,

The Medical Attaché stated that the UAE was seeking to raise its profile as a destination for medical tourism and to this end the

Mr Jamal Abdalaziz Al Owais, the UAE Medical Attache (left), speaking at the business roundtable

country was improving its medical sector to attract more patients from its GCC neighbour countries and from more widely around the Middle East region.

He believed that patients, including expatriates working in the region, would be attracted by the ease of travel to the UAE rather than travelling further abroad for treatment.

Mr Al Owais also indicated that the UAE was interested in long-term sustainable partnerships with firms in the medical field, including pharmaceuticals suppliers and firms with expertise in running private hospitals and specialist treatment centres.

He estimated that within ten years the UAE would be in a position to receive patients from overseas in need of specialist medical treatment, including heart surgery.

Participants wanted to learn from the experiences of private hospitals that had set up in the UAE and to explore the best model for success.

Speeding up the process of gaining the right to establish in the country and for receiving

CHAMBER NEWS

accreditation for foreign medical staff to work within the UAE were seen as important priorities by potential investors.

In response to questions, the Medical Attaché stressed that the laws governing the regulation of the medical sector within the emirates were the responsibility of the federal Ministry of Health.

He said that the UAE aimed to see teaching hospitals established in the country and medical centres for academic research which would be available to all the GCC countries.

He said that there would be no obstacles to the employment of foreign doctors as long as they had been fully certified by their home nations.

Mr Al Owais also indicated that international law applied to companies based within the free zones.

The roundtable highlighted opportunities in a variety of medical fields including the potential for joint ventures with UK firms in the fulfilment of healthcare projects supported by the UAE in its less developed neighbours, such as Yemen where a new hospital had recently been opened financed by the UAE. The UAE also offered support to Arab medical students in the form of scholarships to study within the emirates or abroad, the Medical Attaché said.

Dr Al-Shuaiby said that the Chamber would like to assist UK companies to become more engaged in the UAE medical sector as it appeared that British firms were lagging behind their competitors.

UK firms were potentially missing out on so many opportunities and the Chamber was keen to help them achieve more success in winning contracts through getting access to the right information when it becomes available.

She further said that success would more likely be achieved if companies realised that the Arab countries wanted to form sustainable partnerships for a longer duration rather than simply concluding a single contracts.

Mr Mike Moran, Aspen Health, welcomed the fact that UKTI was giving more attention to the Arab markets and encouraging UK firms to take advantage of the opportunities.

Participants at the seminar included representatives of the UK private health sector and companies seeking to build and operate private hospitals in the UAE were looking for partners who would provide the financial support.

Delegates also discussed how some medical services within the UAE and the wider MENA region were “overcrowded” while others were in short supply, such as rehabilitation and trauma care services.

One speaker, Keith Hackett, Director, Intelligo Health Management Resourcing, urged the UAE to look at providing more preventative and community based healthcare services that would help in raising public about the need for individuals and families to look after their own health.

In response, the Medical Attache expressed an interest in discussing such healthcare strategies and their applicability for the UAE in more detail.

Ms Khilood Jamal Ali, Sales Executive, Philip Chapper & Co, explained the challenges in trying to register and distribute medical devices in the GCC markets.

Mr Jamal Abdalaziz Al Owais stressed that once a product was accepted by one GCC country then it would be possible to distribute it throughout the GCC as commons regulations applied.

Delegates all agreed that the discussions had been very fruitful, while Dr Al-Shuaiby pointed out that it was only the start of a dialogue that would need to continue.

The UAE Medical Attaché looked forward to cooperating with the ABCC in the provision of assistance to UK firms wishing to access the opportunities that are becoming available in his count

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CHAMBER NEWS

NEW BUSINESS OPPORTUNITIES IN LIBYA

New business opportunities in Libya were the focus for the business seminar Opportunities in Libya, hosted by the Arab British Chamber of Commerce on the afternoon of 21 November.

The event attracted about a hundred business delegates who were members and non-members of the Chamber representing a varied range of sectors and it was co-organised in cooperation with UKTI, the Libyan Embassy in London and the Federation on Libyan Chambers of Commerce, Industries and Agriculture.

Delegates were informed that Libya was currently looking to co-operate with major operators in the fields of energy, healthcare, education and training, financial services and construction. In addition, the seminar highlighted important opportunities for Small and Medium-Sized Enterprises seeking to enter the supply chains for major projects.

In welcoming delegates and speakers, Dr Afnan Al-Shuaiby, ABCC Secretary General & Chief Executive, described Libya as “an important emerging market with enormous commercial potential” and she stressed that UK companies needed to become far better acquainted with the many opportunities that are arising as the Libyan people embark on the task of rebuilding their economy.

“UK Trade and Investment had estimated that Libya will eventually spend more than

Mr Ahmed Gebreel, Charge d’Affaires, Libyan Embassy, informing delegates that Libya was very keen to cooperate with UK business people.

£125 billion on reconstruction,” Dr AlShuaiby told the seminar.

The event was designed to provide UK exporters and investors with a guide to some of the key opportunities that are becoming available as Libya moves forward with plans to upgrade its infrastructure and strengthen its economic base.

Dr Al-Shuaiby thanked the Embassy of Libya in London, UK Trade and Investment and the Federation of Libyan Chambers of Commerce, Industries and Agriculture, for their support.

Mr Edward Oakden, Managing Director, Strategic Trade, UKTI, provided a broad overview of recent developments in the market.

Over the past 15 months Libya had made extraordinary progress in bringing the country together and electing a new government, he stated.

Despite short-term uncertainties, Libya was going to be an enormous market in the medium term and UK firms needed to be aware of the best strategy to adopt to achieve success.

The UK’s role in support of the transition in the country was greatly appreciated by Libyans and this opened the door to new opportunities for doing business, Mr Oakden said.

UK firms needed to be aware of the actual needs of Libya as it worked to reestablish itself and as the new government began to get to grips with the process of reconstruction.

The Libyan people were expecting results and this meant that the government needed to deliver on basics such as healthcare, education and improved transport among other services.

Mr Oakden said that Libya was in a strong position to succeed because of the resources at its disposal, in particular the revenue it receives from oil. Encouragingly, output was back to its pre-war levels of 1.6 million bpd.

He said that the UK and Libyan governments were engaged in talks on the immediate needs of the country and what the longer term requirements would be.

Certain sectors had been highlighted including healthcare, the oil industry, infrastructure, especially roads and airports, education and skills, financial services, ICT and security.

Mr Fawzi Allolaki, Head of the Libyan organisation for Economic Competitiveness, delivered a message of support on behalf of the newly appointed Minister of Economy.

He said that the Libyan people would not forget those, such as Britain, who had stood by them in the difficult days” and he hoped they would continue to cooperate in the future to build a stable Libya.

He stressed that Libya was seeking “new partnerships based on mutual respect and joint cooperation in order to build new relations based on strategic partnerships.”

CHAMBER NEWS

Mr Edward Oakden, Managing Director, Strategic Trade, UKTI, provided an overview of opportunities in the market.

Mr Allolaki brought greetings from His Excellency the Libyan Minister of Economy who had just received his new post in the past week and was unable to be present.

The Minister’s message stressed that Libya was strongly committed to enhancing mutual cooperation between Libya and Britain and he invited delegates to visit the country in the near future.

Mr Allolaki further stated that Libya needed the cooperation of the UK in all areas including the construction industry and the oil and gas extraction and processing sectors.

“We will also open a new door for you, namely, in investment where we will tailor our laws in line with those of knowledge-based and competitive economies,” he stated.

Mr Ahmed Gebreel, Charge d’Affaires, Libyan Embassy, said that the message from Libya was clear following its peaceful transition and the holding of successful elections in July: the future was positive and the country was keen on improving cooperation.

Its major trading partners were in the countries of the European Union and Libya had signed a series of agreements with the UK to advance cooperation in the fields of trade, health, education and security. These agreements would be followed by high-level trade visits in coming weeks, Mr Gebreel said.

Mr Paul Radford, Chief Economist, UK Export Finance, the government agency formerly

Mr Fawzi Allolaki, Head of the Libyan Organisation for Economic Competitiveness, delivering a message from the newly appointed Minister of Economy.

known as the ECGD, explained how the organisation can assist UK companies in the Libyan market.

Mr Jackson believed that new tenders for major contracts would start to be issued by the spring of next year.

New products and services for SMEs had been developed in the past few years following the financial crisis to assist exporters. It was able to provide support for contracts valued as low as £20k.

The report into “high value opportunities” in Libya could be read online and is also featured in the autumn issue of the Chamber’s magazine Economic Focus.

He stressed that the agency was not a lender but an insurance provider and its role was to complement what was available in the market and shared the risk banks.

He explained the conditions set by UK Export Finance for supporting a project in particular the requirement that any project insured needs to be at least 20% British owned.

Mr Radford stated that all the services were now available for exports to Libya.

Mr Hesham Elghrairi, the Libyan Commercial Attache, emphasised the importance of finding a good local business partner within the country.

Mr Angus Jackson, Libyan market specialist, who had authored a recent report for UKTI, outlined the range of high value opportunities in the country and how UK firms might take advantage.

Major contracts had yet to be concluded which meant that now was the right time to look to the market and start building relationships.

Ms Elizabeth Gaston, Director, Smart Specialists International, shared with delegates the benefits of her more than 30 years’ experience of working in Libya.

Ms Gaston offered her company as a case study of working in Libya as a training provider. She had worked in the training department of the National Oil Corporation designing onsite training for Libyan staff and had developed extensive contacts within the industry.

She reaffirmed the advice to companies looking at Libya to have a presence in the market and get the company known.

Questions raised in discussion touched on such areas as the business culture in Libya, food policy, healthcare, transparency, reforms and issuing of visa and export licenses.

In concluding remarks, Dr Al-Shuaiby stressed the role of the Chamber in helping companies to achieve long-term commercial success by building strategic relationships.

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NEW MEMBERS

EU-EGYPT TASK FORCE BUSINESS & TOURISM SUMMIT

The Arab British Chamber of Commerce participated in the recent EU-Egypt Task Force summit in Cairo which was held with the aim of boosting economic cooperation between Egypt and European Union member states.

Among those taking part in the two-day event on 13-14 November were representatives of around 100 large European corporations, members of the European Commission headed by Baroness Catherine Ashton, the EU’s High Representative for Foreign Affairs, and Egyptian ministers.

Dr Afnan Al-Shuaiby, Secretary General & Chief Executive of the ABCC, led the Chamber delegation which also included Mr

Abdeslam El-Idrissi, ABCC Director of Trade Services.

The task force, initially announced during Egyptian President Mohamed Morsi’s visit to Brussels in September, was held to address the challenges that Egypt is facing in its economic reform and reconstruction.

The conference was co-chaired by Baroness Ashton and Egyptian Foreign Minister H E

Mohamed Kamel Amr. An opening address was given by H E Dr Hesham Kandeel, Prime Minister of Egypt.

Other participants included EU VicePresident Antonio Tajani and Alessandro Barbieri, Chairman, Eurochambres, as well as politicians, business leaders and senior officials from European and international financial institutions.

The summit coincided with the announcement by Baroness Ashton of the EU’s approval of a €5 billion ($6.4bn) financial aid package for Egypt which was made following her meeting with President Morsi.

“As Egypt’s main trading partner and the biggest source of aid and investment, the EU has a key role to play,” Baroness Ashton told the summit.

“The task force is a unique way of sustaining the achievements made so far and addressing Egypt’s political and economic needs,” she said.

Themes covered at the summit for business included joint investment and strategic alliances, science, technology and innovation and HR development. The speakers included Egyptian ministers, H E Osama Saleh, Minister of Investment, H E Hatem Saleh, Minister of Industry & Foreign Trade and H E Dr Nadia Eskndar Zkhary, Minister of Scientific Research and Mr Ahmed El Wakil, Chairman, Federation of Egyptian Chambers of Commerce.

A separate summit on tourism was addressed by H E Mohamed Hisham Zaazou, Minister of Tourism.

Baroness Catherine Ashton, the EU High Representative for Foreign Affairs, and H E Mohamed Kamel Amr, the Egyptian Foreign Minister.

The EU-Egypt Task Force was the third such forum to be held in the Southern Mediterranean countries and follows similar events in Tunis in September 2011 and Jordan in February 2012.

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MEMBERS NEWS

ABA AWARD TO NATIONAL BANK OF ABU DHABI GROUP CEO

Presenting its distinguished service award to Arab banking to Mr Tomalin, George Kanaan, CEO of the ABA, said: “The National Bank of Abu Dhabi is a strong brand and an exemplary institution; an institution that is the highest ranked Middle East bank in the World’s 50 Safest Banks list and growing.

The Arab Bankers Association has named Michael Tomalin, the Group Chief Executive of the National Bank of Abu Dhabi (NBAD), as its “Banker of the Year”.

In accepting the very first award, Mr Tomalin spoke of the need for Arab banks to play a larger role on the global financial stage especially with the decline of traditional European banks. He also emphasised the strong links between London and Arab banking.

“NBAD continues to expand globally with presence from Hong Kong to North America; given this profile, we found it appropriate to select Michael Tomalin as the first recipient of our distinguished service award as this extraordinary growth took place under his watch,” he said.

NBAD launched its London branch in 1977 and provides private banking, trade finance, corporate banking, and treasury products. It has the largest global network among UAE banks and expanded into China and Malaysia this year, as part of a plan to be represented in over 40 countries from the current 15 within the next 10 years. Much of the expansion will be Asia focused reflecting the growing trade and investment links between the Middle East and Asia.

The ABA, founded in 1980 in London, represents and promotes the interests of Arab banks and financial professionals who work with Arab banks. Its work reflects the very strong and significant banking and trade links between the UK and the Arab world.

Michael Tomalin, Group Chief Executive of NBAD (right) receives the award from Hani Kablawi, ABA Chairman, (middle) and George Kanaan, CEO of ABA.

ABA, 14/11/2012

PHARMACEUTICAL SUPPLIER FOCUSES ON EMERGING MARKETS

Leading British pharmaceutical and medical supplier Philip Chapper& Co Ltd, a member of the ABCC, has identified emerging international markets as the next stage of its growing export portfolio.

The company has been successfully providing both branded and generic pharmaceuticals, over the counter medicines, hospital supplies and equipment to clients across the world for over 35 years.

Its team of three pharmacists can source virtually any pharmaceutical product, with a range of expiry dates and with extremely quick response rates. This is augmented by a team that is internationally diverse, with multilingual executives managing orders across the globe.

With export currently a major focus for British companies, Philip Chapper& Co has already identified and made significant

strides in a diverse range of markets, including countries in the Middle East such as Lebanon.

Its focused export strategy will also see the company in attendance at some of the world’s biggest healthcare exhibitions over the next 12 months, including Medica, Expopharm, Medexpo and Arab Health.

Managing Director Philip Chapper said: “Our export credentials have been built over a sustained period and we have developed a very strong international network – and it is now time to expand that network even further.

“Combining our in-depth knowledge of the medical market, international relations, legislative requirements, high levels of customer service and the ability to quickly source stock has made the decision to expand into new emerging markets a logical one.”

Company press release, 14/09/2012

TRADE SERVICES

ARAB BRITISH CHAMBER OF COMMERCE www.abcc.org.uk

FOREIGN OFFICE SERVICE

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BUSINESS & PROJECT NEWS

KUWAIT TO SPEND $100 BILLION ON OIL PROJECTS OVER FIVE YEARS

Kuwait plans to spend some $100 billion on oil projects inside and outside the country over the next five years, a top oil executive said.

million barrels per day from the current 3.0 million, Zanki said on the sidelines of the Kuwait Energy Projects conference organised by the Middle East Economic Digest (MEED).

“Around $100 billion has been earmarked for oil projects ... 60 percent of it on upstream projects inside and outside Kuwait,” CEO of national oil conglomerate Kuwait Petroleum Corp. Faruq Al-Zanki said.

Construction of a new 615,000 bpd refinery and the clean fuel project to modernize two of the country’s three refineries, both costing $30 billion, are part of the spending plan, Zanki said.

The expenditure is part of Kuwait’s longterm strategy to raise output capacity to 4.0

National refiner Kuwait National Petroleum Co. (KNPC) recently appointed Foster

FITCH EXPECTS SOLID NON-OIL GROWTH FOR GCC

Wheeler and Amec as consultants for the two projects slated to be completed by 2018.

Zanki said that KNPC, a subsidiary of KPC, expects to tender the two projects by the start of next year after they had been repeatedly delayed due to political bickering.

The two projects are projected to raise Kuwait’s refining capacity to 1.4 million bpd from the current 930,000 bpd. When the two projects are complete, Kuwait plans to shut the Shuaiba refinery.

Kuwait is engaged in advanced talks with China and Vietnam for multi-billion-dollar joint ventures to build two oil refinery and petrochemical complexes.

The emirate also has oil production operations in several countries through its state-owned Kuwait Foreign Petroleum Exploration Co. (KUFPEC).

Kuwait Petroleum International runs refineries and petrol stations in Europe as well.

AFP, 06/11/2012

TUNISIA TO SIMPLIFY BUSINESS REGULATIONS Tunisia is seeking to simplify business regulations in an attempt to make it easier for private sector companies to generate investment and create jobs.

In its first quarterly GCC Sovereign Credit Overview Fitch Ratings forecasts that economic growth in the GCC will slow in 2013 owing to a moderation in oil production growth, but that high oil prices and production will provide a supportive backdrop for another year of solid non-oil growth.

Gulf economies will remain heavily influenced by global oil markets. With conditions tight (low global spare capacity and little new output coming on-stream), Fitch expects Brent crude to average around $100 per barrel in 2013 despite the weak outlook for demand. As most GCC exporters aside from Saudi Arabia are operating at close to capacity, there is little scope to raise output after the hikes over 2011 and 2012.

Countries will continue to use high oil revenues to stimulate their economies. Fitch forecasts that Qatar will remain the fastest growing of all GCC sovereigns in 2013, driven by a huge capital investment programme.

Growth will also be strong where fiscal stimulus is combined with healthy rates of bank lending and buoyant consumer and business confidence, as is the case in Saudi Arabia and Oman.

Although there is little fiscal impulse in the UAE, the non-oil economy will pick-up owing to a renewed influx of businesses and residents.

For most GCC sovereigns, fiscal and current account surpluses are anticipated, further strengthening sovereign balance sheets and external positions. Fitch expects the benign global inflationary environment to be sufficient to offset most domestically-driven price pressures and keep inflation in the region relatively subdued.

The main economic risks are external relating to a slowdown in China, and crises in the US economy and Eurozone. In addition, the GCC remains vulnerable to swings in oil prices.

Given the fiscal policy space in most of the GCC, Fitch anticipates that these risks should be manageable in 2013. In Fitch’s view the key challenges facing the region are economic diversification, rising break-even oil prices, unemployment and accountability.

Agencies, 22/11/2012

The IFC is helping Tunisia to review and streamline procedures that affect businesses. Reducing bureaucratic complexities will help create an even more business friendly climate for investors and entrepreneurs, encouraging economic development across the country. The reforms will also enable Tunisia to improve its efficiency and transparency and reduce room for discretion in the application of these procedures.

“Our partnership with IFC will help us support investments and create a lucrative and effective investment framework for businesses,” said Riadh Bettaieb, Minister of Investment and International Cooperation.

The project builds on an effort initiated in 2011 by the Tunisian Ministry of Finance to review and simplify over 400 tax and customs procedures.

IFC, 30/10/2012

BUSINESS & PROJECT NEWS

WORLD’S FIFTH LARGEST OILFIELD TO BE READY IN 2014, SAYS SAUDI ARAMCO

Saudi Arabia is pushing ahead with a major project to develop the world’s fifth largest oilfield which will pump nearly 900,000 barrels per day of heavy crude and 90 million cubic feet per day of sour gas, Saudi Aramco said in its annual review.

“By the time it is fully operational in December 2014, the Manifa Field is expected to produce 900,000 bpd of Arabian Heavy crude oil, 90 million scfd of sour gas, and 65,000 bpd of hydrocarbon condensate,” it added.

Saudi Aramco said its 2011 activities had focused on the development of Manifa field, adding that it had completed nearly 97% of offshore construction, including all platform decks, subsea pipelines for crude oil gathering and water injection, and subsea power and communication cables.

Manifa’s project is part of a programme to lift crude output capacity to 12.5 million bpd from around 11 million bpd currently to maintain its position as the dominant oil supplier.

Construction of the central oil and gas processing facility (CPF) was nearly threequarters complete by year-end and all major equipment has been installed, Saudi Aramco said in the report, which was distributed at the recent Abu Dhabi International Petroleum Exhibition and Conference.

Saudi Aramco, the world’s largest oil producing firm, said it had conducted extensive engineering and ecological assessments to ensure that the marine ecosystem would not be adversely affected by the development.

“When the development is finished in June 2013, the project will include 41 kilometers of causeways, three kilometers of bridges, 27 drilling islands, 13 offshore platforms, 15 onshore drill sites, water supply wells, injection facilities, multiple pipelines and a 420 megawatt heat and electricity plant,” it said.

The project has already prompted plans to build two large refineries with a combined output capacity of 800,000bpd to handle heavy crude.

The report said the project involves the second largest single crude increment in the company’s history after its Khurais project, which will boost capacity to 1.2 million bpd.

With its estimated 10 billion barrels of crude reserves, Manifa can contribute to crucial energy concerns, according to the annual review.

Saudi Gazette, 22/11/2012 The report from Saudi Aramco can be found here: http://www.saudiaramco.com/en/home/ news/publications-and-reports/corporatereports0/annual-review-2011.html

QATAR ‘WORLD’S FASTEST GROWING ECONOMY’ Qatar was the world’s fastest growing economy from 2007-2011, as the country rapidly expanded its LNG exports, according to a new report from the Qatar National Bank (QNB).

The report, Qatar Economic Insight 2012, said that the economy would rely on upstream and downstream hydrocarbons for 66% of GDP in 2012-2013.

Gas production could last another 160 years at current extraction rates, the report estimated.

GDP per capita was around $100k in 2011, the highest in the GCC and one of the highest in the world and the QNB expected this to reach $107k in 2012 and $11k in 2013.

As the country’s hydrocarbons plans are largely complete, the QNB said, the non-hydrocarbons sector is expected to drive growth in the 20122013 period.

Overall, QNB forecasts real GDP growth at 5.4% in 2012 and 5.3% in 2013 with non-hydrocarbons growth of 7.8% and 6.6% respectively.

An array of major transport and real estate development projects are driving growth with spending running at around $30bn a year, the report said.

Turning to the banking sector, the report said profits rose 16.1% in 2011, driven by economic growth and public sector borrowing.

The Qatar Exchange is the second largest stock market in the GCC and is currently being liberalised, the report said.

The QNB expects trade surpluses totalling $193bn in 2012-2013 of which almost half will be utilised for investments abroad and for diversifying Qatar’s income streams.

The QNB report can be obtained here: http://www.qnb.com.qa/csportal/Bl obServer?blobcol=urlenglishdoc&bl obtable=QNBNewDocs&blobkey=id& blobwhere=1351677544979&blobhe ader=application%2Fpdf

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BUSINESS & PROJECT NEWS

NEW REPORT RANKS ECONOMIC FREEDOM IN THE ARAB WORLD

Bahrain and the UAE are home to the highest levels of economic freedom among Arab nations, according to the annual Economic Freedom of the Arab World report.

The report published by the Fraser Institute, Canada’s leading public policy think-tank, in partnership with the Friedrich Naumann Foundation for Liberty (FNF) and the International Research Foundation (IRF) of Oman.

The report compares and ranks Arab nations in five areas of economic freedom: size of government, including expenditures, taxes, and enterprises, commercial and economic law and security of property rights, access to sound money, freedom to trade internationally and regulation of credit, labour, and business.

TALLEST SAUDI RESIDENTIAL TOWER TO OPEN IN JUNE Saudi Arabia’s Rafal Real Estate Development Company said that after an 18-month build period its Burj Rafal project remains on track to be completed in eight months.

Once complete, Burj Rafal will house 440 apartments and one of the first Kempinski hotels in Saudi Arabia. The 300-bed hotel will have two restaurants, three cafés, conference facilities, a ballroom for up to 2,000 guests, two spas and wellness centres and a range of exclusive retail outlets. It will be the tallest residential building in the Gulf kingdom.

Construction Week, 22/11/2012

“Increases in economic freedom that are, in effect, a return to the classical Arab model of free trade and open markets would help generate the economic dynamism needed to create the jobs and prosperity that the region requires for a successful future,” said Salem Ben Nasser Al Ismaily, the report’s lead author, chairman of IRF, and a member of the Fraser Institute’s board of directors.

Bahrain, which ranked first last year, improved its overall score to 8.1 out of 10 from 8.0. The UAE also scored 8.1, tying with Bahrain after ranking second overall in 2011 with a score of 7.9. Jordan moved into the

third spot from eighth overall, improving its score to 7.9 from 7.4 last year.

Kuwait stood at fourth position with a score of (7.8), Lebanon and Oman scores (7.6 -tie), Qatar at 7th position with (7.4) score, Saudi Arabia occupied 8th position with a score of (7.3) and Yemen scored (7.2) for 9th slot.

Comoros and Tunisia (6.8 -tie) for the 10th position. Egypt (6.7) stood at 12th place.

The report was released in conjunction with the annual Economic Freedom of the Arab World meeting in Tunis, which attracted delegates from across the Middle East and North Africa.

“Economic freedom is the key to increasing prosperity, creating jobs, and reducing poverty,” said Fred McMahon, Dr Michael A. Walker Research Chair in Economic Freedom and co-author of the Economic Freedom of the Arab World: 2012 Annual Report.

Research suggests that individuals living in countries with high levels of economic freedom enjoy higher levels of prosperity and longer life spans.

The Gulf Today, 22/11/2012 The Economic Freedom of the Arab World report can be found here: http://www.fraserinstitute.org/ uploadedFiles/fraser-ca/Content/researchnews/research/publications/economicfreedom-of-the-arab-world-2012.pdf

ALLURE OF LONDON ENDURES FOR MIDDLE EAST PROPERTY INVESTORS

Middle East investors are ignoring British property tax increases and continuing to buy prime London residential properties as a way of shielding their wealth from risks in the region, Harrods Estates, the property division of the department store, has said.

Buyers sending money from countries including the UAE, Qatar, Saudi Arabia and Bahrain spent 10% more on London property this year than they did over the same period in 2008, said Harrods Estates, paying an average £3.9 million (Dh22.8m) per single transaction.

Traffic to the company’s website from the UAE alone rose 24% in the third quarter of this year compared with the same period last year, as investors from across the region searched for an investment haven.

Knight Frank, another British estate agent, this month reported that internet traffic from the Middle East to listings of upmarket central London homes on its website rose 10% in the year to October.

The estate agent, which like the rest of Harrods is owned by the sovereign wealth fund Qatar Holding, said buyers from the GCC accounted for 40% of its sales last year, up from about 30% in 2008.

The National, 22/11/2012

BUSINESS & PROJECT NEWS

MOROCCO SOLAR PLANT SECURES €300MN LOAN

European financial support for the Ouarzazate project following these agreements amounts to €345 million euros, the EIB said, including grants worth €45 million already agreed to by the European Union and Germany.

The desert power plant will also be financed by the World Bank, which agreed to a $300-million loan last year, and the African Development Bank.

Morocco’s pioneering 160-megawatt solar power plant has taken a step forward by securing European financing agreements worth €300 million ($385 million), or nearly half of the project’s cost.

The European Investment Bank (EIB), Germany’s KfW bank and the French Development Agency signed the financing accords with Morocco’s solar energy agency MASEN in Marrakesh, to support the first phase of the Ouarzazate solar complex, a joint statement said.

Morocco is aiming to become a world-class renewable energy producer, and is eyeing the chance to export clean electricity to neighbouring Europe.

MOBILE TELEPHONY STEALS THE SHOW IN MOROCCO

A low fixed-line penetration of 11.1% is driving mobile growth in Morocco, especially in remote areas where mobile telephony services are easier to access than fixed-line telecom services, said a survey.

Mobile telephony's increasing prevalence, along with young users' demand for value-added services and broadband, will encourage operators to provide innovative applications and content such as mobile lotteries and short message service (SMS) quizzes, according to a new analysis from Frost & Sullivan.

The mobile telephony market earned revenues of $6.32 billion in 2011 and by 2018 the figure is likely to reach $7.42 billion, said the research and consulting firm in its report.

“The Moroccan telecom market will also benefit from the advanced regulatory environment, which fosters competitive conditions,” said Frost & Sullivan senior research analyst Jonas Zelba.

“On the other hand, intense competition is stoking price wars and thereby, slashing operating margins,” Zelba noted.

Mobile revenue growth is expected to be lesser than subscriber growth, mostly due to reduced tariffs and the addition of lowincome subscribers, which decreases the average revenue per user.

Morocco could leverage its advantageous geographic location, as many large companies from Europe (especially France) view it as a viable outsourcing destination, the report added.

“These investors will be looking to outsource their production, customer service and call centres to reduce costs,” noted Zelba.

“Telecom operators can gain additional revenue streams by providing them with call centres and becoming a third-party service provider.”

Trade Arabia, 18/10/2012

A Saudi-led consortium won the contract in September to build the first 160-megawatt phase of the Ouarzazate plant, which is expected to cost nearly $1 billion and is slated for completion in late 2014.

A second phase is expected to raise the plant’s generation capacity to 500 megawatts by 2020.

The plant is the first in a series of vast solar energy projects planned in the kingdom.

AFP, 20/11/2012

BOOST FOR SMES IN LEBANON The microfinance market in Lebanon is the smallest in the MENA region, and two-thirds of smaller businesses do not have access to sufficient credit. The total funding shortfall is estimated at over $200 million.

In response, the IFC, a member of the World Bank Group, is loaning $2 million to a leading Lebanese microfinance institution to help expand its lending to smaller businesses, supporting economic growth across the country.

IFC’s new investment will help Ameen s.a.l. provide loans to SMEs to enable them to grow and create jobs. Ameen s.a.l. aims to double its loan portfolio to $34 million by 2016.

“Entrepreneurs, especially women, lack access to financial services and loans,” said Ziad Halaby, General Manager of Ameen s.a.l. “IFC’s investment will help us increase our coverage and provide financial services to a larger number of micro and small businesses throughout the country.”

Ameen s.a.l. is currently ranked among the largest players in the Lebanese microfinance market and is regulated by the Central Bank of Lebanon.

IFC, 13/11/2012

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UK-ABU DHABI

FORUM HIGHLIGHTS GROWING POTENTIAL FOR UK-UAE COOPERATION The Arab British Chamber of Commerce took part in the 4th Abu Dhabi Investment Forum which was held in London on 16 October.

During the forum Dr Afnan Al-Shuaiby participated in a high-level panel discussion on the theme of Developing a Knowledge Economy which formed part of the forum.

Infrastructure and education in particular were highlighted as two of the key areas with exceptional potential for cooperation between the UK and the UAE. The sectors were mentioned by British Foreign Office Minister Alistair Burt MP in his address to the forum which attracted more than 300 people, including senior government officials, public and private sectors representatives, investors, along with industrial, financial and banking organisations in both Abu Dhabi and London.

The event was organised by the Abu Dhabi Department of Economic Development (DED) in cooperation with Institutional Investor for Conferences.

Abu Dhabi has achieved a regionally prestigious and advanced position in areas such as the advanced technological industries, renewable energy, nuclear energy, genetic engineering, electronics, aviation and aerospace, Nasser Ahmed Khalifa Al Suwaidi, Chairman of DED, told the delegates.

Abu Dhabi was proceeding to execute a variety of initiatives and steps to improve its competitiveness, including reducing the time and procedures required for obtaining licences, waiving the prerequisite of the availability of capital for incorporating a limited liability company, reviewing investment laws, allowing 100% foreign ownership in a number of free zones, together with carrying out a process of reform of the legislative system.

Similarly, Abu Dhabi had been taking steps to upgrading its infrastructure in accordance with the highest international benchmarks.

This is manifested in the carrying out of several colossal development projects such as that of Khalifa Port - one of the

most advanced ports in the world – where commercial operations started recently.

Since his appointment as Britain’s Minister with responsibility for the Middle East over two years ago, Mr Burt said that he had been fortunate enough to have visited Abu Dhabi four times.

“Along the way, I have forged some very strong friendships, including with my Emirati counterpart, Dr Anwar Gargash, and I was fortunate to host Nasser Al Suwaidi and the UAE-UK Business Council last May. I would also like to congratulate Nasser Al Suwaidi and Samir Brikho on the great start they have made in the first year of the Business Council.

“I have seen at firsthand, for example, the huge number of opportunities for British companies in the region,” the minister stressed.

Bilateral trade Mr Burt then outlined some of the key trade statistics which, he said, were impressive enough to bear repeating: Last year the UAE was Britain’s 16th largest export market, and it has been the 13th largest for the first half of this year. UK exports to the UAE were £4.7 billion in 2011, up 21% on 2010. Taking into account the size of the UAE’s population – nearly 8 million– and you get a real sense of how impressive these statistics are.

More than 4,000 British companies are already active in the UAE – from small SMEs to large global multinationals – across a wide range of industry sectors, which means that investors will be in good company if they choose to invest in Abu Dhabi.

The value of bilateral trade between Britain and the GCC countries is worth £20 billion annually – and the UAE accounts for over 50% of that figure, including companies based in the free zones.

And by the end of this year the UK government estimates that the value of bilateral trade between the UK and the UAE will be around £10.5 billion. “We are well on course to meet our ambitious target of increasing the value of trade to £12 billion by 2015, from £7.5 billion in 2009,” the minister declared.

With its impressive programme of expansion on major infrastructure projects, such as healthcare facilities and social housing, Abu Dhabi accounts, and will continue to account, for an increasing share of that sum.

He asked why more companies were choosing to invest in Abu Dhabi.

“A key factor in my mind is the proximity between global markets in the East and West and the very favourable transport links, both across the Gulf and further afield. This, plus the readily available supply of commercial space, well-qualified staff and excellent education system means Abu Dhabi is the ideal place for companies whose longer-term objectives are to expand into other markets,” the UK Foreign Office Minister said.

In short, the UAE, and Abu Dhabi in particular, offers an ideal hub for expansion, in much the same way as we see investment in the UK as also a launch pad for the EU. He also said that we are seeing more and more British companies partner with Emirati ones in third countries such as Korea and Iraq.

Which sectors offer the most potential for UK businesses?

Infrastructure is an obvious focus, the minister said. “As the UAE, and Abu Dhabi in particular, moves away from reliance on oil and gas revenues, we will see a continued drive to develop as a global player in tourism and culture.”

UK-ABU DHABI

Among the most impressive of the current projects in Abu Dhabi is the development of Saadiyat Island into a leading cultural centre.

When completed, Saadiyat will be home to a branch of the Guggenheim Museum, The Louvre and the Sheikh Zayed National Museum – the latter in collaboration with the British Museum and designed by British architect Sir Norman Foster.

With further plans to develop nine fivestar hotels, Saadiyat offers a wealth of opportunities to construction and engineering companies, as well as firms in the creative industries sector.

The second area that the minister wanted to highlight is education, which he described as “vital for national success and one of Britain’s greatest strengths”.

Education is also one of the growth businesses of the future.

The educational links between Britain and UAE are already strong. British institutions like Heriot Watt University, Middlesex University and the London Business School have established campuses in the emirates.

“I was delighted to visit the British University of Dubai when I was in the UAE in September, and honoured to address students at the impressive new Sheikh Zayed University campus in Abu Dhabi last October.

Both of these experiences convinced me of

the enormous potential in this area, and I believe we can do more,” the minister said.

“We should pool our assets and advantages for our mutual benefit: that means more Emirati students in the UK; more British students in the UAE; more collaboration between our universities and science parks; and more British companies helping to deliver education on the ground in the UAE.” The final sector that the minister highlighted was energy. With almost 10% of global supply, a hundred years of known reserves and production of 2.7 million barrels per day, it is clear that the UAE will remain a major player in the oil industry for the foreseeable future.

But the UAE - and Abu Dhabi in particular - is also a leader in the development of alternative energy. The Emirati government has embarked on one of the most ambitious programmes in the world to build a sustainable city.

Designed by British architects Foster and Partners, Masdar is being designed and built using the latest technologies to reduce its carbon footprint. It is home to several companies and research institutes that are pioneering new alternatives to carbon-based fuels.

Britain is well-placed to work with Emirati partners to continue to develop this sector,

ABU DHABI’S TAQA BUYS NORTH SEA OIL ASSETS FROM BP The Abu Dhabi National Energy Company, known as Taqa, has bought BP oil acreage in the North Sea for $1.1 billion.

BP is operating in the Adco concession in Abu Dhabi, which produces the emirates onshore oil fields.

The deal indicates that efforts by the Britain to attract investment from the Gulf are paying off.

The transaction helps Taqa to consolidate its position in the UK where it already has several assets and produced 42,900 barrels of oil equivalent a day at the end of last year.

Taqa will acquire interests in BP’s Harding, Maclure and Devenick fields, BP said in a statement.

“This investment shows our commitment to the future of the North Sea. It is underpinned by the UK Government’s commitment to long term fiscal stability,” said Hamad Al Suwaidi, the chairman of the board at Taqa and a member of Abu Dhabi’s executive council.

The purchase of BP’s assets increases Taqa’s North Sea crude production by 21,000 barrels per day (bpd) to almost 60,000 bpd.

Taqa, which is listed on the Abu Dhabi Securities Exchange, owns the emirate’s power plants, and has branched out to oil and gas production, as well as power generation, abroad. Apart from its North Sea assets, it operates in gas fields in Canada, and is completing a gas storage project in Bergermeer, Holland.

“This investment is a great strategic fit for Taqa, ensuring growth for our UK business and establishes Taqa as a leading operator in the UK North Sea,” Taqa Chief Executive Carl Sheldon said.

The acquisition will create a second North Sea development hub and adds production of 21,000 barrels of oil equivalent a day in 2013 and net 91 million barrels of oil equivalent reserves, Taqa said in a statement.

Taqa has interests in power generation, combined heat and water, desalinisation, pipelines and structured finance. The company is 51% owned by Abu Dhabi Water and Electricity Authority.

Sources: BP press release, news agencies, 28/11/2012

bearing in mind its notable strengths across all energy industries, including oil and gas, renewables, nuclear and thermal power generation.

Other sectors offering significant opportunities were financial & professional services, healthcare and the “creative industries”.

Finally, the minister stressed that “it was important to remember that the relationship between our two great nations goes back 200 years. The strength of our commercial relations, which has been my focus today, has parallels across the bilateral spectrum – from our political relations to our thriving cultural ties”.

Taking part in the forum were a large number of official bodies and public and private economic organisations in Abu Dhabi, such as the Higher Corporation for Specialized Economic Zones (ZonesCorp), Khalifa Industrial Zone-Abu Dhabi (Kizad), Abu Dhabi Chamber of Commerce and Industry (ADCCI), the Khalifa Fund for the Development of Enterprises, Abu Dhabi Securities Market, Abu Dhabi Ports Company, Mubadala Development Company, General Holding Company, National Bank of Abu Dhabi (NBAD), Abu Dhabi Commercial Bank, National Investor Company, Eitihad Airway and Emirates Aluminium (Emal).

For the full transcript of the minister’s speech see: http://www.fco.gov.uk/en/news/latestnews/?view=Speech&id=824094382

Useful Contacts in Abu Dhabi British Embassy Abu Dhabi Commercial Section

Frances Moffett-Kouadio, Director of Trade & Investment Email: frances.moffett-kouadio@fco.gov.uk Robert Kelly, Deputy Director of Trade & Investment Email: robert.kelly@fco.gov.uk Graeme Mullin, Trade & Investment Advisor Email: graeme.mullin@fco.gov.uk Ministry of Industry and Commerce http://www.economy.gov.ae/English/pages/ default.aspx Abu Dhabi Chamber Email: contact.us@adcci.gov.ae www.abudhabichamber.ae British Business Group Abu Dhabi http://britishbusiness.org/contact/

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18

WATER SECTOR

UK WATER INDUSTRY EXPLORES OPPORTUNITIES IN OMAN AND QATAR A 17-member delegation from the British water industry has visited Qatar and Oman to explore fresh opportunities in these markets. Following the visit, which took place between 4 to 11 November, the sector is now keen to build on existing ties with public sector agencies and business entities in the provision of water and wastewater.

The trade visit enabled companies in the British water and wastewater supply chain to meet engineering, procurement and construction (EPC) contractors and consultants currently bidding for projects as well as representatives from government departments responsible for infrastructure projects in both Qatar and Oman.

Addressing a press conference in Oman, Lila Thompson, international director of British Water, said: “Thirteen companies representing British Water have had a series of meetings with officials of the Public Authority for Electricity and Water, the Oman Chamber of Commerce and Industry, Haya Water, PDO, Atkins, and British Embassy and others. A few of the British Water firms are already active in Oman while others are currently engaged in exploring business opportunities.”

Dr Yolande Herbath, strategic director of the BHR Group, stated that her company had various initiatives under development, including plans to set up a centre of excellence for water and environment.

Dr Herbath further said that another key project concerns the setting up of rheology laboratory in Oman, which on completion will be the first in the entire Gulf Cooperation Council (GCC). She pointed out that young Omanis would be trained and this lab would be able to market its services in other GCC countries after five years of being established.

Nigel Ayton, managing director of Scottish Water International, which was a strategic partner with British Water on the delegation, expressed the opinion that “the Sultanate offers a plethora of opportunities in the wastewater segment. Our meeting with the public authority for electricity and water

and Haya make us confident that there are enough opportunities here.”

Paul Williams, managing director of Middle East office, Goodwin International, said that, “Ours is a 130 year old company and in the last 40 years, we have provided specialist valves in the oil and gas industry globally. In Oman, we supply these to PDO and Shell for the last 20 years.”

The visit enabled the British companies to demonstrate how their technologies and services can help enhance efficiency and reduce operational costs to ensure the longterm success for Omani water, wastewater and desalination projects.

There are around 180 companies in the UK water industry of which it has been estimated that about 95% are looking to trade internationally. Around 85% are small to medium enterprises. The big companies already have international cooperation and now the SMEs are beginning to trade internationally.

British companies are able to offer a range of products and services for the sector from consultancy services for infrastructure, environment and buildings to engineering solutions and utility management strategies in water and wastewater treatment.

British firms also have expertise in product development for the water, power and environment industries, research covering all aspects of fluid engineering; manufacturing and vocational education and training, in water and wastewater for employees ranging from new entrants to managerial level.

Qatar has plans to expand water supply, wastewater treatment and power capacity over the next five years to keep ahead of the growing demand of its 1.7 million population and the market is in need of more technical know-how for local scientists and engineers.

The Qatari authorities are planning to spend $140 billion on infrastructure in the run up to the FIFA World Cup 2022, and major projects are planned in every sector including electricity generation, desalination and water and wastewater reuse.

Meanwhile, Oman has historically relied on groundwater sources which are replenished by rainfall. Modern policy is to retain this for agricultural purposes and to act as an emergency supply. But growing public and industrial demand means increasing reliance on desalinated water and demand has been projected to more than double between 2009 and 2016 to reach 320.6 million m3 per annum, with more than half of this in the wider Muscat area.

The rising demand is fuelled chiefly by population growth and social development, as well as an active policy by the government to shift away from groundwater as a source of potable water supply.

To meet likely shortfalls in capacity, the Oman Power and Water Procurement firm (OPWP) has been examining a number of options such as delaying the scheduled retirement of some desalination units, boosting the capacity of others, and promoting the use of grey water and treated sewage effluent in industrial processes and certain types of agriculture to extend the life of existing supplies.

At least four large-sized desalination plants and 25 smaller ones are in various stages of development in Oman and UK companies are actively seeking involvement.

Oman has generally been the leader in the Gulf when it comes to developing private sector involvement in utilities. It was the first country in the region to allow private generating stations, for example.

Oman is also looking to increase private sector involvement in the collection and management of wastewater.

Oman and Qatar are two important target markets for the UK water sector in Middle East along with the UAE and Saudi Arabia where UK business delegations visited earlier in the year. Oman and Qatar are two important target markets for the UK water sector in the Middle East along with the UAE and Saudi Arabia where UK business delegations visited earlier in the year.

Sources: British Water; Times of Oman, 13/11/2012

TRANSPORT SECTOR

RAILWAY BOOM IN THE GULF

along the Gulf coast to Muscat in Oman. The Gulf states are expected to prepare a detailed engineering design for the $15bn joint line by end-2013 or mid-2014, an official at the GCC’s Secretariat General said.

“Hopefully by the beginning of 2018, the railway will start operating,” said Ibrahim al-Sabti, director of the transportation department at the Riyadh-based secretariat.

The network could help develop remote desert and mountain areas of the GCC.

Gulf governments are embarking on plans to restore long-distance rail transport in the region and extend it across the Arabian Peninsula.

Official figures suggest that around $100 billion may be spent by the end of this decade laying over 6,000km (3,750 miles) of track for both national lines and for a route linking all the Gulf Co-operation Council states, namely Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain.

They face big technical challenges, such as making six national rail systems compatible and building on the shifting sands of remote deserts.

But success could have a far-reaching impact on their economies, cutting their dependence on expensive road and air travel, boosting trade and even bringing them GCC closer together politically.

“It will undoubtedly transform the economies as any major piece of railway does,” said Keith Hampson, director of global rail transit at Aecom, a US-based transport planning firm. “It opens up all sorts of trading relationships that probably otherwise would not have existed.”

Rail transport has been neglected in the Gulf over recent years and the transit of trade

Dubai Metro

depends heavily on trucks running along desert highways.

Currently, the only major rail systems operating in the GCC are a 60-year old freight and passenger link between Riyadh and the port of Dammam in Saudi Arabia, and Dubai’s metro.

Trade within the GCC and its re-exports to other countries are expected to get a boost.

Intra-GCC trade rose from $19.8bn in 2003 to $65.4bn in 2010, still only a tiny fraction of last year’s total GCC trade value of $1.3tn.

In 2009, a GCC feasibility study forecast the joint GCC rail line would open in 2016, carrying 29mn tonnes of freight out of 61mn transported by all means in the region.

Annual passenger traffic was projected at 4mn people in 2016-2020, with passenger revenue of $240mn in 2016 rising to $600mn in 2045.

A rise in trade and passenger traffic among GCC countries should strengthen regional ties and Yemen has expressed interest in joining the rail network.

But that is set to change dramatically as growing populations and the determination to diversify their economies away from oil exports cause the Gulf states to make investments into railway construction.

“A key challenge is ensuring that the railways being built do actually connect,” said David Lupton, transport economist and a former project manager of the GCC rail feasibility study.

Saudi Arabia is building a 2,750km line from Riyadh to its northern border with Jordan, aiming to complete it in 2014. About 2,260km of additional lines are planned in Saudi Arabia, including metro systems and highspeed train projects.

Last month, an Omani transport ministry official said electricity would be the preferred energy source for its trains, while other GCC states plan to use diesel locomotives, creating a potential compatibility problem.

In the UAE, Etihad Rail has started building a link to transport granulated sulphur from desert gas fields to the southern port of Ruwais after it is finished in 2014.

The national networks are to be connected to a joint GCC line that would run from Kuwait

Another issue that GCC countries will need to resolve to make the rail system economically effective is customs procedures.

Acquiring the necessary land may become a major obstacle. A big technical challenge is the unstable dunes of some of the region’s deserts, where sand builds up on tracks, increasing the wear and tear on them.

The potential obstacles are not deterring scores of international firms, from US engineering giant Bechtel to South Korea’s SK Engineering & Construction, from hunting aggressively for railway business in the Gulf and the weakness of government finances in many other parts of the world makes the Gulf rail contracts particularly alluring.

“Everybody is jumping in from across the planet. American, Brazilian companies are here. It’s terrible,” SK’s regional general manager Mike Cho said of the stiff competition.

Gulf Times, 01/11/2012

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LEGAL

WELCOME NEWS FOR ENFORCEMENT IN THE UAE

By Alec Emmerson and Keith Hutchison A raft of judgments on arbitration award enforcement cases in Dubai Courts have been reported recently and the overall trend is encouraging for the development of Dubai as an arbitration centre.

Dubai’s highest court recently delivered an unequivocal ruling that foreign arbitration awards will be enforced in Dubai in accordance with the UAE’s international treaty obligations under the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards. This is welcome news for users of international arbitration and for Dubai’s position generally as an international arbitration hub.

In view of obstacles that remain in relation to domestic award enforcement in the UAE, it is reasonable to suggest that more local users of arbitration may favour a choice of a foreign seat or DIFC seat for their arbitration for the advantages that this will bring over domestic awards at the enforcement stage.

In this article we comment on some recent cases in the Dubai Courts where arbitration or the enforcement of awards, both foreign and domestic, has been considered. Some of the cases show a distinctly pro-arbitration stance from the courts, while others provide examples that difficulties still exist for domestic award enforcement. On balance there has been significant progress in the

Dubai legal system with the courts working to find their feet in supporting the increasing popularity of arbitration in the region. In doing so the courts are enhancing confidence in Dubai as a centre for international arbitration.

A huge boost for foreign award enforcement In an October judgment in the case of Macsteel International v Airmech (Dubai) LLC the Dubai Court of Cassation upheld the enforcement of two related foreign arbitration awards against a Dubai company under the NYC. Affirming the judgment of the lower courts to enforce the awards, the Court held that the NYC is the relevant law that applies to the enforcement of foreign awards in the UAE. Significantly, the Court rejected the resisting party’s reliance on the arbitration provisions in the UAE Civil Procedure Code (CPC) that apply to domestic award enforcement. The Cassation judgment in Airmech leaves no doubt that the CPC provisions should have no place in the enforcement of foreign awards in the UAE (although it remains to be seen what the

approach of the UAE courts will be to an award annulled or one arguably requiring ratification at its foreign seat).

Set against an historic background of problematic award enforcements in the UAE, a strong pro-enforcement judgment from the Court of Cassation is precisely what arbitration practitioners and arbitration users have been waiting for. The Cassation judgment in Airmech is an important milestone for Dubai as an international arbitration hub. As the legal representative for the successful enforcing party, Clyde & Co is delighted to be at the forefront of this positive development in Dubai’s arbitration landscape.

Other recent foreign award enforcement cases The Dubai Court of First Instance has also recently ruled in a separate case endorsing the application of the NYC to foreign award enforcement in the UAE, to the exclusion of potentially conflicting provisions of the CPC5. The judgment is particularly refreshing for the Court’s application of the NYC in circumstances where neither party advanced arguments based upon it; the pleadings focused exclusively on the arbitration provisions of the CPC. While not cited in argument before the Court, it is to be hoped that the well-publicised rulings in the Airmech case imparted some influence on the Court in making this pro-arbitration ruling.

It cannot be expected for every enforcement case to be smooth sailing. Another recent Dubai Court of First Instance ruling saw the Court confuse domestic and foreign enforcement terms. The Court rejected an application made under the NYC (in the correct terms) for “recognition and enforcement” of a London award on grounds that the Court could not “ratify” a foreign

LEGAL

award. Ratification is a necessary step in the enforcement of a domestic award under the CPC but has no place in the enforcement of foreign awards, unless, possibly, that is a requirement at the seat of the arbitration.

This judgment appears to be a result of the Court being confused as to the nature of the legal device for enforcement provided by the NYC. There is nothing in the judgment to suggest the Court was resiling from the application of the NYC to foreign award enforcement. Indeed, the Court rejected the resisting party’s counterclaim for annulment of the award on the ground (correct in our view) that the CPC arbitration provisions apply only to domestic arbitration and should not be a consideration for foreign award enforcement. The case is currently under appeal by both parties in the Court of Appeal.

Domestic award enforcement cases There remain difficulties with enforcement of domestic awards under the CPC that do not arise for foreign award enforcement under the NYC. A couple of recent Dubai Court cases are worthy of mention inasmuch as they illustrate where things can and do still go wrong, and that domestic award enforcement in the UAE can still be a frustrating undertaking for an award creditor.

Set against the bigger picture, each of these cases should be viewed on their own merits and they do not in our view detract from Dubai’s increasingly prominent position in international arbitration.

In September 2012 the Dubai Court of Cassation upheld an appealed judgment refusing to ratify and enforce a Dubai ad hoc award on the basis of the CPC requirement that, in the case of an award of a threemember tribunal, a dissenting opinion must be referred to in the majority award. The Court also held it was essential that an award is signed by all of the arbitrators for it to be valid. The facts of this case were that the dissenting opinion of one arbitrator was not directly referred to in the majority award of the tribunal. The award was also not signed by the dissenting arbitrator, whose dissenting opinion (which was signed by him) was enclosed with and referred to in the tribunal’s letter to the Dubai Courts enclosing the majority award.

The enforcing party had argued that the award was valid as it was issued by majority vote (which is permissible) and it was not correct that the disagreeing arbitrator had refused to sign the award; he had just written his dissenting opinion separately.

The Court rejected the appellant’s argument and refused to enforce the award on a literal application of the relevant CPC provision. It is difficult to see what reasonable objection there could be to the validity of the majority award which was in all substantive respects valid and beyond challenge and ought to have been enforced. This case is a frustrating example of a very narrow interpretation of

Dubai International Financial Centre

the domestic arbitration provisions in the CPC and a focus on the form of awards over their substance.

A judgment of the Dubai Court of Cassation in another domestic award enforcement case has sparked a legal debate surrounding the Court’s refusal to enforce awards on ‘public policy’ grounds under the CPC. That case involved a claim to enforce three related DIAC awards in relation to a private real estaterelated dispute, including consideration of the application of a Dubai law regulating the registration of off-plan property sales.

The Court nullified the awards on grounds that the application of the relevant property law is a matter of public policy which cannot be resolved through arbitration. Our commentary on this ruling, including our views on comments made by some legal practitioners on the negative impact of the ruling for Dubai’s arbitration credentials, can be viewed here. In short, we consider that some commentators have exaggerated the significance of a judgment that is actually very narrow in its scope.

The approach of the DIFC Courts to arbitration Dubai’s civil law system courts are not alone in taking a stance in support of international arbitration. The DIFC Courts (which are based on common law principles and operate in English) are also playing their part, though not without a blip. In a judgment delivered in October in International Electromechanical Services v Al Fattan, the DIFC Courts have acted to redress an inconsistency between DIFC law and the UAE’s treaty obligations, which was recognised in an earlier recent DIFC Court judgment, Injazat v Denton Wilde Sapte & Co. In Al Fattan the DIFC Court of First Instance ordered a stay of DIFC proceedings for a foreign (non-DIFC seated) arbitration to proceed between the parties in accordance with the arbitration agreement in their contract. The Court declined to follow its earlier ruling in Injazat where it had held that it was not bound by the DIFC Arbitration Law (or other DIFC statute) to

stay proceedings brought in breach of an arbitration agreement for foreign arbitration, nor did it have an inherent jurisdiction to order a stay of proceedings in favour of foreign arbitration. The Court in Al Fattan agreed with Injazat that that there was no statutory obligation on the Court to stay proceedings for foreign arbitration, but it did not accept that there was no inherent jurisdiction for the Court to order a stay where that jurisdiction was not expressly excluded by statute.

The Court in Injazat expressed reluctance in ruling as it did, particularly as to the inherent jurisdiction point. It also recognised that its ruling on the interpretation of the DIFC Arbitration Law put the UAE in breach of its treaty obligations under the NYC, but considered that it was bound to that interpretation of the relevant provisions. Injazat stands awkwardly opposed with one of the DIFC’s stated primary objectives of promoting Dubai as an international arbitration centre. If the judgment was not remedied quickly it had the potential to harm Dubai’s position as an international arbitration hub.

Unsurprisingly, Injazat was received with concern and disappointment by local practitioners and arbitration users. It was generally hoped that either through legislative amendment and/or subsequent judicial consideration there would be the opportunity to realign DIFC law with the DIFC’s pro-arbitration function. The Al Fattan judgment is a timely one differing from the unsatisfactory position created by the DIFC Arbitration Law which the court felt bound to apply in Injazat. We expect to see legislative revision to remove the problem in the DIFC Arbitration Law, and therefore to settle the position more satisfactorily than reliance by the judiciary on inherent jurisdiction.

For arbitration and more generally for the reputation of Dubai’s legal system and its status as a key global commercial centre, these recent judgments of Dubai’s civil and common law courts overall show that things are moving in the right direction.

Clyde & Co, November 2012

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LEGAL

COMPETING JURISDICTIONS PROVE COSTLY FOR SMALL BUSINESSES UK TO SPEED UP IP DISPUTE RESOLUTION FOR SMES The UK’s Patents County Court (PCC) is to offer a new small claims track service to speed up the court process and reduce costs for small- and mediumsized enterprises (SMEs).

The PCC resolves intellectual property (IP) cases for England and Wales. The small claims track will provide copyright, trade mark and unregistered design holders with the option of pursuing basic IP disputes through an informal hearing, without legal representation. Claims allocated to the track will be subject to damages restrictions of ÂŁ5,000 ($8,000) or less, to ensure they are proportionate to what is at stake.

The changes broadly follow the recommendations made by Lord Justice Jackson, who conducted a review on the cost of civil litigation in 2010. The review found that the high cost of IP litigation was often unaffordable for many rights holders and disproportionate to what was at stake.

Law and Tax News, 05/10/2012

Jurisdictions competing for business ultimately increases costs for small companies looking at geographical expansion, a company formation specialist said on the sidelines of a recent conference on SMEs. "Every local jurisdiction - not even country wants you to be located in their jurisdiction.

In Abu Dhabi, for example, if you want to deal with any of the governmental entities that form the main portion of the economy, you need to have an Abu Dhabi trade license," Joe Hepworth, commercial manager, Links Group, said.

"Even having a Dubai license or branch of a Dubai license in Abu Dhabi doesn't work. It's harder for SMEs because if you're in Dubai, you very quickly need to have two LLCs, which is costly," he said.

Qatar, for example, encourages companies that both set up and invest in the country, rather than companies that simply commute from the UAE. Ian Ohan, area developer for N_K_D Pizza in the Middle East, said that the mistake some companies make is treating countries as if they're the same.

"I think some people try to lump it all into one jurisdiction - it's not. If I were to go to

England, it would be a learning experience albeit a different structure as it would be in Saudi Arabia or Qatar. It's a different set of rules," he said.

"All the municipality rules are different, the planning guides are different, the entities are different, so even something as simple as that is completely different to Dubai. They have their own jurisdiction, their own rules and regulations," he continued.

Rules and regulations vary greatly across the UAE from emirate to emirate. This, Hepworth continued, is due to federal versus local law.

Zawya News, 16/10/2012

LEGAL

IP AND TRADEMARK UPDATE

Algeria

Bahrain

The recordal of trademarks by rights owners is possible at the Algerian Customs, effectively helping customs to stop counterfeit goods.

Education in Bahrain is integrating Intellectual Property into its curriculum, by introducing it to intermediate school students, through campaigns and forums which focus on individual and corporate Intellectual Property.

The documents required in support of the recordation are as follows: l Power of attorney signed under the

company’s seal or letterhead and duly legalised before the Algerian Consulate. l Letter of commitment in French signed under the company’s seal or letterhead and duly legalized before the Algerian Consulate. l Copies of registration certificates.

After completing the recordal, the trademark will be placed on watch, and products bearing this trademark or a similar mark will be monitored and inspected ex-officio.

Products suspected of being counterfeit will be suspended and the rights owner as well as the importer will be immediately notified.

In the case of confirmation, a legal action must be filed before the court in Algeria within 10 working days in order to have a court decision on the matter, otherwise the suspected goods will be cleared.

These campaigns and forums are meant to target university students as well, in hopes of spreading constant awareness on the importance of Intellectual Property.

Morocco According to Ministerial Resolution no.

06/2012 dated June 21, 2012, the official fees for trademark, design and patent related matters were revised in Morocco, effective from October 1, 2012. Fees have substantially increased in comparison with their current level. The new schedule of fees is applicable to all new applications as well as applications that have still not matured to registration.

It is also worth noting that, maintenance fees in the country will be due annually on the anniversary of the filing date of the patent. There is a six-month grace period for late payment with a surcharge. Previously, annuities were paid every five years. The 1st through the 5th patent annuities were payable at the time of filing. The remaining annuities were payable in groups of 5 years at the time of payment of the 6th, 11th and 16th annuities.

Also the fees for the filing and the renewal of trademark applications will be payable separately for each and every class, and not up to the first 3 classes, as was the practice before.

UAE The UAE issued on August 13, 2012, Decree no. 3 of 2012 to address the rise in electronic crime including internet crimes, the creation and/or distribution of viruses, hacking, system interference, illegal access and interception. It aims to establish a national authority for the issue. Decree no. 3 of 2012 becomes effective starting the second day following publication in the Official Gazette.

The objectives of the new Decree are as follows: l Ensuring the government's commitment

to fight against cybercrime.

l Implementing enough measures towards

ensuring cyber security.

l Setting a national plan to face any threats

or abductions on cyber safety.

l Providing quality control on data

protection.

l Giving enough professional and

consulting support to the related parties.

l Receiving and solving cybercrime

complaints.

l Covering all expenses for studies and

research, in order to increase the efficiency of cyber safety. l Creating awareness of the importance of cyber safety.

Within the changing framework of the cyber world, many noteworthy developments have influenced the legal framework of the Arab region, by implementing and promulgating legislations in order to ensure the protection of the public's cyber security. For example, in countries such as Bahrain, Jordan, Morocco, Oman, Saudi Arabia, Syria, Tunisia, the UAE and Lebanon, electronic crimes are subject to legal prosecution.

Saba & Co IP Bulletin, November 2012

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SAUDI INSURANCE

OPPORTUNITIES IN SAUDI LIFE INSURANCE

Although growth is expected to ease in Saudi Arabia’s competitive insurance sector this year, the industry still holds plenty of potential for expansion, particularly in the health and life segments.

Despite having the largest population and economy in the region, the Kingdom’s insurance sector is characterised by underperformance and low penetration rates, especially in the non-property and automotive fields.

spelled added bureaucracy for firms when it was enacted in 2008, it was widely agreed the system played a key part in improving transparency and accountability across the industry.

The regulatory system has also been instrumental in keeping the country safely distanced from markets that have found themselves in the spotlight over questionable practices, such as concerns about whether all Islamic insurance firms are meeting sharia compliance requirements.

Overcrowding in the market and tight margins have combined to put the Kingdom’s 30 policy writers under pressure as they vie for business from a comparatively small base, prompting them to adopt tactics aimed at attracting clients away from rival companies, such as cutting policy contribution rates.

Fahd Al Anazi, a member of the Shura Council, the Kingdom’s consultative assembly, believes consolidation could be the solution for struggling insurers, enabling them to both strengthen their capital and increase customer numbers.

“A number of insurance companies have had their capital diminish because they failed to get high enough returns to compensate for their losses,” Al Anazi told Arab News in October. “There were 30 established companies investing $26.6 million, and high establishment and operating costs have caused the erosion of their capital.”

While the environment that Saudi Arabia’s insurers are operating in is challenging, a recently published report by ratings agency A M Best highlighted the opportunities for growth that the industry offers, both in the Kingdom and across the wider Middle East and North African (MENA) market.

“The MENA insurance markets tend to be immature, with very low penetration rates compared to their international peers,” the report, issued in early October, said.

Life insurance is seen as the most underdeveloped segment, with the trend magnified in Saudi Arabia. Figures show

that life insurance makes up about 6% of all premiums written in the Kingdom, well below both the 16% recorded in the UAE, which is the region’s largest single insurance market.

The health segment is also expected to provide opportunities for local insurers on the back of a drive by the government to move away from state-dominated health care and encourage the development of private medical services. Demand for cover looks likely to rise in the direct health services segment, pharmaceuticals, and also among subsidiaries as private medical care operations expand.

The Best study said Saudi Arabia’s stability, together with the insurance sector’s potential and the size of its economy, should see the Kingdom achieve a higher rate of growth than regional forecasts, which have estimated a below 5% rise in total gross premiums written (GPW) for MENA. The solid regulatory system that governs the insurance sector is also expected to support growth. While a reinforced oversight system introduced by the regulatory body, the Saudi Arabia Monetary Agency (SAMA),

SAMA, which covers both the conventional and sharia-compliant segments of the insurance industry, earned praise from Moody’s ratings agency in a report published earlier this year. The agency noted that, “Insurance regulators in the region are increasingly embedding prudential insurance regulatory supervision philosophies into their monitoring of local insurance companies, particularly in Saudi Arabia and the UAE”.

While regulation is expected to play a part in supporting growth, the marketplace remains a tough environment in which to do business.

Industry players, particularly smaller outfits, may well find that survival depends on an ability to successfully expand their business activities and deepen penetration rates.

The alternative looks increasingly likely to be a round of mergers that will consolidate the industry, lift capital standing and strengthen the position of a potentially smaller number of operators in the marketplace.

OBG, 19/11/2012

ALGERIA

RATING ALGERIA’S BANKS

The development of the Algerian banking system is likely to be characterised by greater participation from private sector lenders.

Long-awaited plans to set up a ratings agency that will gauge stability levels in Algeria’s banks look to be back on track, with the process for selecting a monitoring system now gathering pace.

Algeria will be hoping that the launch of the new ratings system for its banks will boost confidence in the sector, while paving the way for increased lending, in line with the country’s bid to diversify its economy.

Efforts to introduce a ratings system for the banking sector have been slow to get off the ground, with the Bank of Algeria (BoA) taking time to decide how the process will be implemented. The launch has already been put back from a scheduled date at the end of 2011, while Central Bank Governor Mohamed Laksaci said last year that bank ratings should be in place from 2013.

A representative from the Association des Banques et des Établissements Financiers (Association of Banks and Financial Institutions, ABEF) told the Algeria Press Service (APS) in August that work on the pilot project had now reached a “technical elaboration” stage.

ABEF general delegate Abderezak Trabelsi also highlighted the importance of having a ratings system in place for the financial services industry. “There must be a bank rating tool, agency or company, regardless of the name, since there is a need for creating a scoring tool for companies and insurance companies because the information is crucial in a market economy,” he said.

The governor of the Central Bank, Mohamed Laksaci, added that the rating system would help in the early detection of banks’ vulnerabilities, while playing a part in maintaining stability in the sector and protecting depositors.

The BoA has yet to decide what mechanism it will adopt for the monitoring process, according to Trabelsi. However, it is understood that three options are being considered; a local ratings mechanism using locally qualified staff, a joint venture with a foreign ratings agency, and a system that would see several separate ratings agencies operating in Algeria.

Reports have suggested that a foreign partner is likely to be brought in to implement the system and train staff employed by the new organisation.

Algeria Central Bank

The BoA has already set up a ratings system in partnership with the IMF and the US Treasury that is currently being piloted in two banks.

However, the new ratings system is expected to monitor all banks and financial institutions in Algeria on a range of criteria, such as liquidity, risk management and solvency ratios, while assessing them on a scoring system and establishing rules for intervention. The system should increase detection of money laundering and other illegal activities in the banking sector, while creating a more practical and transparent means of monitoring banks’ resilience.

Nour Nahawi, the director general of ABC Bank, an Algerian subsidiary of Manama-based ABC Bahrain, told OBG that the new rating system should produce a positive outcome for the country’s banks. “With a new ratings system forthcoming and efforts to increase lending opportunities under way, the government is taking a pro-active stance in maintaining the banking sector’s stability, which should lead to even stronger and healthier banks,” he said.

The Algerian banking system has remained stable through the global financial crisis.

However, levels of lending to the private sector remain low. The country’s six stateowned banks, which account for around 85% of all assets, are known for adopting a highly cautious stance towards lending, after incurring losses on loans to inefficient public companies. As a result, the banking system retains a large quantity of liquidity that could be driving growth in the private sector, where capital is much in need.

With most state banks also lacking the sophisticated risk-management technology used by the private sector, the government will be hoping that the introduction of an independent ratings agency encourages strong-performing banks to lend more freely.

Aymeric de Reynies, the senior country manager at Calyon Bank, part of France’s Crédit Agricole Group, told OBG that a strong private sector was a prerequisite for development. “The future of the banking sector will be small and medium-sized enterprises, and a proper strategy should be put in place to bring sufficient support to their activities and development,” he said.

In the longer term, the development of the Algerian banking system is likely to be characterised by greater participation from private-sector lenders, following a trend that emerged a few years ago.

Andre Dieu, the head of division at the Algerian branch of French bank Natixis, believes international interest in the North African country is well founded. “Algeria is a growing market in terms of potential, the market is not yet fragmented and there is still a relatively low rate of use of the banking system compared to some neighbouring countries,” he told OBG. “This offers great potential for any international banks interested to invest.”

OBG, 09/11/2012

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TENDERS

TENDERS

3 - DEVELOP, MANAGE AND OPERATE AN ASSEMBLY PLANT AND PRODUCTION OF CHASSIS AND TRANSPORTATION LOCATED IN ABBASSIYA, CAIRO ON AN AREA OF (7,700 M2) Bidding document fee: EGP10,000 (ten thousand Egyptian pounds) Bid security fee: EGP250,000 (two hundred and fifty thousand Egyptian pounds)

EGYPT HOLDING COMPANY FOR MARITIME AND LAND TRANSPORT- NILE AUTO FOR MANUFACTURING AND REPAIR AUTOMOBILES IS INVITING TENDERERS (AN INVESTOR OR A GROUP OF INVESTORS AS PARTNERS) FOR THE BIDDING OF THE FOLLOWING SITES: 1 - DEVELOP, MANAGE AND OPERATE MANUFACTURING BRANCH STRUCTURES AND MEANS OF TRANSPORTATION LOCATED IN AMERIA, ALEXANDRIA ON AN AREA OF (18,870 M2) Bidding document fee: EGP10,000 (ten thousands Egyptian pounds) Bid security fee: EGP250,000 (two hundred and fifty thousand Egyptian pounds).

2- DEVELOP, MANAGE AND OPERATE THE CHASSIS AND PRODUCTION PLANT EQUIPMENT AND MEANS OF TRANSPORTATION LOCATED IN ABBASSIYA, CAIRO ON AN AREA OF (10,963 M2) Bidding document fee: EGP10,000 (ten thousands Egyptian pounds) Bid security fee: EGP250,000 (two hundred and fifty thousand Egyptian pounds)

Contact Holding Company for Maritime and Land Transport- Nile Auto for Manufacturing and Repair Automobiles Email: nileauto@nileauto.com Tel: +202 2482 5502 Deadline: 18/12/2012

REQUEST OF OFFERS FROM INTERNATIONAL ELIGIBLE BIDDERS REGARDING PACKAGE (B) OF THREE SINGLE PHASE AUTOTRANSFORMERS OF 167 MVA CAPACITY EACH FOR EL TEBBIN 500/ 220/ 11 KV GIS SUBSTATION EXTENSION PROJECT UNDER FUNDING FROM EIB - EUROPEAN INVESTMENT BANK. JOB ALSO PROVIDES FOR A SPARE SINGLE PHASE AUTOTRANSFORMER WITH ITS ACCESSORIES, AVR, 11 KV AIR INSULATED BUS DUCT SYSTEM Bid Bond: $100,000 Document Cost: $2,000 Contact EETC’s Consultant, c/o EPS - Electrical Power Systems Engineering Co., with offices at 8th Zone, Building No. 7, Misr Lel Taamier Buildings, Sheraton Heliopolis, Cairo, PO Box 90 Rawdat Al Sheraton, Tel: 02 - 22669414/ 22669424 Fax: 02 - 22661810 Email eps@eps-egypt.com Deadline: 24/12/2012

CONSTRUCTION OF THE ADMINISTRATION RESIDENCE & OTHER ADMINISTRATIVE & SERVICES BUILDINGS IN HURGHADA Bid Bond: LE600,000 Document Cost: LE24,000 Contact Potable Water & Sanitary Drainage Co. in the Red Sea, The Cashier Airport Road, Saad Rashwan Building, Opposite Rajac School, Safaga Tel: 065 - 3251242 Deadline: 01/01/2013

OMAN EPC FOR EXPANDING OF AL HIIJ POWER STATION AT WILAYAT MAHOOT IN WUSTA GOVERNORATE BY DELIVERY, INSTALLATION & COMMISSIONING OF 2X3MW+1X4MW ( 11kv) MEDIUM SPEED, PRIME POWER D.G. SETS Tender No: 126/2012 Document Cost: RO1125 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 24/12/2012

CONSTRUCTION, COMPLETION AND MAINTENANCE OF PROPOSED ADDITION AND ALTERATION TO THE EXISTING MAIN BUILDING AT AL KHUWAIR Tender No: 125/2012 Document Cost: RO750 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 07/01/2013

CONSTRUCTION OF SEWERAGE NETWORK AND DESIGN AND BUILD OF SEWAGE TREATMENT PLANT, BUILDINGS AND ACCESS ROADS FOR WILAYAT AL-MUSANAAH Tender No: 123/2012 Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 07/01/2013

WATER DISTRIBUTION NETWORKS FOR BARKA (AL BATINAH REGION) PHASE II - WEST AREA Tender No: 122/2012 Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 14/01/2013

TENDERS

IMPROVEMENT OF EXISTING KHASAB TO TIBAT COASTAL ROAD

QATAR

SAUDI ARABIA

Tender No: 121/2012 Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 14/01/2013

STRUCTURAL STEEL REPAIRS IN NGL PLANTS GAS OPERATIONS, MESAIEED

Construction of Utility Mains and Security Tender No: 090-C25 Scope of work

Tender No: GT12114500 Scope of Work

EPCC - Expansion of Tanker Truck Loading Facility - SR Tender No: 120/2012 Document Cost: RO3000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 14/01/2013

DESIGN AND CONSTRUCTION OF AN ENGINEERED SANITARY LANDFILL IN BARKA Tender No: 118/2012 Document Cost: RO2000 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 31/12/2012

33k.v Feeders, from Quriyat Grid Station to Release Load from Jahloot Grid Station Tender No: 115/2012 Document Cost: RO1198 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 10/12/2012

PRINTING EDUCATIONAL BOOKS FOR THE ACADEMIC YEARS 2013/2014- 2014/2015 FOR OMAN MINISTRY OF EDUCATION Tender No: 114/2012 Document Cost: RO175 Contact Oman Tender Board Muscat Oman PO Box 787/133 Al Khuwair Tel: (968) 24602652 Tenderom@Omantel.net.om Deadline: 10/12/2012

QP intends to carry out repair and rehabilitation works to structural steel elements, concrete supporting structures and damaged fireproofing within NGL Plant Areas, Mesaieed. The proposed rehabilitation works cover mainly but shall not be limited to the following activities; a) Replacement of all excessively corroding steel elements such as connection bolts, plates, brackets, beams/columns, bracing or any other corroding steel elements within gas operation areas. b) Grit blasting to all stained or moderately/mildly corroding structural elements and also to strengthen those sections that require to be strengthened, by welding with additional sections after grit blasting. c) Replacement of severely cracked concrete foundation/footings and to repair those cracked within allowable design cracks limits. d) Repair of damaged fireproofing Bid Bond: QR150,000 Document Cost: QR500 Contact Qatar Petroleum PO Box 3212, Doha, Qatar Tel: (974) 4440 2000; Fax: (974) 4483 1125 www.qp.com.qa Deadline: 23/12/2012

FEED FOR ADDITIONAL WATER STORAGE TANK FARM DUKHANGLY Tender No: LT12114500 Bid Bond: QR100,000 Document Cost: QR200 Contact Qatar Petroleum PO Box 3212, Doha, Qatar Tel: (974) 4440 2000; Fax: (974) 4483 1125 www.qp.com.qa Deadline: 23/12/2012

REFURB/REP/REWI OF ELECTRICAL MOTORS ON CALLOFF FOR FIVE YEARS Tender No: GT12114400 Bid Bond: QR 65,000 Document Cost: QR500 Contact Qatar Petroleum PO Box 3212, Doha, Qatar Tel: (974) 4440 2000; Fax: (974) 4483 1125 www.qp.com.qa Deadline: 23/12/2012

This project consists of construction of one sewage lift station, two pump stations and erection of two steel tanks in two utilities areas surrounded by one km of chain link fence and two guard houses. The work includes site preparation, roads, grading, storm drainage, storm water retention ponds, potable water distribution, sanitary wastewater system, irrigation system, medium voltage electrical power distribution, roads lighting, telecommunication system, sidewalks and landscaping Request for Proposal (RFP) Documents: SR14,000 Contact Royal Commission in Jubail Supply Management Department (Contracts Section) Tel: (03) 341-4127/4163 Fax: (03) 341-2201 Deadline: 11/12/2012

UAE Replacement of Insulators and Fittings of AWIR MUTN (1&2) 132 KV OHL Circuits Tender No: 2131200084 Document Cost: AED2000 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: (9714) 3244444 Fax: (9714) 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 09/12/2012

REPLACEMENT, REFURBISHMENT & REPAIR OF FIRE WATER TANK AT VARIOUS 400 KV & 132 KV DEWA SUBSTATIONS Tender No: 2421200022 Document Cost: AED 500 Contact Dubai Electricity & Water Authority Office of the Contracts Manager, Zabeel East, PO Box 564, Dubai Tel: (9714) 3244444 Fax: (9714) 3248111 Email: contracts@dewa.gov.ae www.dewa.gov.ae Deadline: 10/12/2012

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DOING BUSINESS

DOING BUSINESS IN THE ARAB MARKETS For the period 2011-2012, the economies of 36 countries made it easier to start a business including the Comoros, Morocco and the UAE, according to the Doing Business 2013 report, jointly published by the World Bank and the International Finance Corporation.

The report, which this year reached its 10th edition and takes as its title Smarter Regulation for SMEs, compares business regulations for domestic firms in 185 economies worldwide.

Economies in the Middle East and North Africa and in Sub-Saharan Africa have implemented more than 9 institutional and regulatory reforms on average—while those in East Asia and the Pacific, Latin America and the Caribbean and South Asia about 8, says the report.

Simplifying company registration formalities was the most common feature of business start-up reforms during the past eight years, the report says.

Some countries created online services and standard registration documents, which go a long way in facilitating swift and legally sound incorporation.

Introducing information and communication technology has been a common feature of the start-up reforms adopted, and today 106 economies use it for services ranging from name search to full online business registration.

Entrepreneurs around the world face a range of challenges of which an important one is inefficient regulation. The Doing Business 2013 report measures the procedures, time, cost and paid-in minimum capital required for a small or medium-size limited liability company to start up and begin formally operating.

Construction regulations are an important area as they matter for public safety. If procedures are too complicated or too costly, builders tend to proceed without a permit. By some estimates 60%–80% of building projects in developing economies

are undertaken without the proper permits and approvals. Construction regulation also matters for the health of the building sector and the economy as a whole.

The countries of the Middle East and North Africa implemented no major regulatory improvements in the area of dealing with construction permits in 2011-2012.

Highlights of measures that were adopted

by Arab countries during the period under consideration by the report include the following: Algeria improved access to credit information by eliminating the minimum threshold for loans to be included in the database.

The Comoros made starting a business easier and less costly by replacing the requirement for a copy of the founders’ criminal records with one for a sworn declaration at the time of the company’s registration and by reducing the fees to incorporate a company.

The Comoros also made it easier to transfer property by reducing the property transfer tax.

Morocco made starting a business easier by eliminating the minimum capital requirement for limited liability companies.

Palestine (the West Bank and Gaza) improved access to credit information by guaranteeing borrowers’ right to inspect their personal data.

Oman improved access to credit information by guaranteeing borrowers’ right to inspect their personal data.

With regards to employing staff, Oman has also reduced the maximum number of working days per week and increased the

paid annual leave applicable for employees with one year of service.

Qatar reduced the time to export and import by introducing a new online portal allowing electronic submission of customs declarations for clearance at the Doha seaport.

Saudi Arabia made paying taxes easier for companies by introducing online filing and payment systems for social security contributions.

Saudi Arabia made enforcing contracts easier by expanding the computerisation of its courts and introducing an electronic filing system.

The United Arab Emirates made starting a business easier by eliminating the requirement for a company to prepare a name board in English and Arabic after having received clearance on the use of office premises.

The Dubai Electricity and Water Authority (DEWA) made getting electricity easier by introducing an electronic “one window, one step” application process allowing customers to submit and track their applications online and reducing the time for processing the applications.

Finally, the UAE made paying taxes easier for companies by establishing an online filing and payment system for social security contributions.

The full report can be found at: https://openknowledge.worldbank.org/ bitstream/handle/10986/11857/DB13_ Full%20report.pdf?sequence=1

E-COMMERCE

OUTLOOK FOR INVESTORS IN MIDDLE EAST’S BOOMING E-COMMERCE INDUSTRY International investors are increasingly setting their sights on the Middle East’s young but booming e-commerce industry, and particularly on the promising opportunity in the Saudi market.

Today, a growing number of people in the region buy their tickets and book their hotels online, they pay their bills the same way and they do it from local companies rather than from Amazon and eBay. Though the Middle East, compared to other regions, has been slow coming to the market when it comes to e-commerce – mainly due to logistics related to security of transactions, payment execution, technology speed and banks being risk-averse due to the high rate of fraud - the business environment is changing. Things are becoming more accessible.

The value of e-commerce-related transactions is about $11bn a year in the region, according to Jawad Abbassi, founder and general manager Arab Advisors’ Group.

In comparison, Europe has the largest e-commerce market in the world, growing 19% last year, with the total value of the market estimated at €246bn, according to figures from the European Multi-channel and Online Trade Association (EMOTA). The North American market is valued at €237bn.

Aramex, the largest online courier in the Middle East, started its shop-and-ship service to help its clients shop overseas what now seems like light years ago. In many ways, one could argue that move has served as a catalyst for other entities that came to the market later.

Paypal announced the launch of its Middle East operations on 14 November, and three of the Middle East’s largest online retailers Namshi, Souq.com and MarkaVIP — have all raised rounds of funding this year for major expansion.

Other recent activity include Namshi, a UAE-based online retailer focusing on fashion and footwear, which secured $20 million from JP Morgan Chase and Blakeney Management; Marka VIP, the Middle East’s largest flash sales site focusing on luxury goods, which raised 10 million from multiple international venture capital firms; and Souq. com, the region’s largest online retailer with a customer base of 8 million, which secured $45 million end of last month from Naspers, a South African media company, and Tiger Global, a New York hedge fund.

Saudi Arabia is the top destination for e-commerce businesses in the region ranking second in e-commerce sales in the GCC; more importantly, the Kingdom represents the biggest retail sector in the region, with the promise of huge growth in e-commerce in the near future.

Some of the main challenges facing e-commerce businesses in the Kingdom and the region more broadly are payment and logistics. More than 70% of online buyers in the Middle East choose cash on delivery as their preferred mode of payment, straining the cash flow of e-commerce startups.

Cash on delivery purchases are seven times more likely to be returned, according to Aramex, and this puts e-commerce

companies at the risk of incurring extra shipping costs as well. Paypal’s recent entrance to the market could help alleviate some of these issues and stimulate rapid growth in the sector.

Paypal’s Managing Director for Middle East and North Africa Elias Ghanem, said: “Paypal has big ambitions to help millions of Internet users to shop conveniently and safely online within the MENA region.”

Beyond online retail, there are also tremendous opportunities for companies that can help existing offline businesses transition to the digital realm. Over 85% of businesses in the GCC have no online presence, according to Google; these businesses are losing out on the 66% of the region’s Internet users who use the web to search for products and services.

Companies like Jeeran, a business reviews’ site, and Fursaty, a group-buying site, are stepping in to fill the gap and providing merchants with their first glimpse of the benefits of going online and raising consumer awareness, further driving e-commerce in the region. Jeeran and Fursaty will be discussing the ways in which they are doing this at ArabNet Riyadh.

But Arab e-commerce markets are steadily evolving and the online customer base is rapidly expanding. As the Co-Founder and Managing Director of Namshi.com Hosam Arab has said: “The Middle East region is finally ripe for e-commerce as governments ease restrictions on regional trade, logistics providers scramble to improve their services to e-commerce retailers and their customers, and investment funds pour into the sector after the emergence of a number of exciting regional success stories.”

Sources: Arab News, 20/11/2012; Arabian Business, 07/10/2012

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LEBANON

LEBANON’S ECONOMY - AN END OF YEAR REPORT As the end of the year approaches, the 2012 figures for Lebanon’s economic performance have started to emerge; below is a brief summary of the main economic indicators as described by the International Monetary Fund (IMF). l The IMF estimated Lebanon’s GDP

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growth at 2% for 2012. The country’s current economy exceeds $41 billion, up from $22 billion in 2006.

As for the income per capita, it rose by 10% during 2012 to reach $10,452.

Public debt is still stable.

The economy’s growth is being stimulated by the decline in interest rates that dropped by 30% since 2005.

The number of tourists decreased 15% while passengers across Rafic Hariri International Airport grew up by 6% which means that travelling to Lebanon by land decreased but arrivals by air rose.

Customs imports boosted by 5% and the port of Beirut imports increased by 9% in 2012 compared to the previous year.

Economic Indicators Gas discoveries to boost economy Recent off-shore gas discoveries in Lebanon are an important development that would boost the Lebanese economy, according to the Investment Development Authority of Lebanon (IDAL), the country’s national investment promotion agency.

Seismic surveys of suggest the presence of 12 trillion cubic feet of gas, an amount that, if extracted, could meet the country’s electricity production needs for 99 years. Lebanon already entered the gas exploration stage, and is technically ready to start issuing licenses to get the process of natural gas extraction started.

After spending over $21 billion on fuel imports in the past five years, energy independence would be able to transform Lebanon’s fiscal and economic picture significantly and end the heavy reliance on costly diesel generators, estimated at 38% of private electricity consumption.

Pharmaceuticals The Lebanese pharmaceutical market reached $1.28 billion in 2012 up from $1.2 billion in 2011. The market size is expected to reach $1.73 billion over the period 2011-2016 growing at a CAGR of 7.6% during the same period. This increase is mainly due to the booming of pharmaceutical sales and the rising demand of Lebanese importers who are continuously looking for new suppliers.

There is as a consequence a very large and competitive market in Lebanon for a whole range of pharmaceutical and overthe-counter products with high spending of Lebanese households on drugs. 70% of the Lebanese market consists of imported pharmaceuticals and prescription medicines represented around 73% of total market value last year. It is worth noting that Lebanon was ranked in seventh place globally regarding its spending on pharmaceuticals and that is equivalent to 2.94% of GDP according to the same source.

The majority of registered medicines in Lebanon are imported, mostly from France, UK, Germany and Switzerland. As for the exported products, they are destined to Arab countries such as Syria, Jordan, Kuwait, Bahrain, Oman and UAE. If your company has a pharmaceutical investment project in mind in Lebanon, do not hesitate to contact IDAL, as you might benefit from incentives and business support services.

So far, five companies have benefited from IDAL’s incentives, amounting to $50 million in investment size, and creating 400 direct jobs and 1160 indirect jobs.

Business Partners One of IDAL’s mandates is to promote the export of Lebanese products, among which are IT products, as this sector falls within the organisation’s sectors of interest.

As such, IDAL is activating its role in fostering business linkages between local and international firms. The objective is to help Lebanese companies gain access to regional and international markets by exporting their products and services or by serving as an outsourcing base to multinationals firms.

IDAL is identifying companies who wish to subcontract their activities to Lebanon to benefit from cost savings and the unique talents of the Lebanese workforce.

IDAL offers matchmaking services to international companies to benefit from Lebanon’s potential in ICT as well as to local companies interested in accessing new markets and new international partners.

If you wish to benefit from IDAL’s services and expand your business by exporting to new markets, please do not hesitate to contact us.

A Lebanese Success Story The success story highlights the regional and international success of an innovative Lebanese company in one of the sectors with growth potential. The globalization of these companies shows the opportunity for Lebanon to become an outsourcing destination for high value-added services due to its qualified labour force and competitive labour costs which is categorized to be among the lowest in the region.

This month’s success story is dedicated to Sword Lebanon, a company in the Digital Media sector.

Sword Lebanon is a software development company committed to delivering IT offshore services to customers across the world.

It was established in Lebanon in 2000 and is part of Sword Group, headquartered in France.

During 12 years of working with the European market, Sword Lebanon delivered large scale projects to clients such as Orange Telecom, the Swiss Government, Omega Watches, Swatch Group, UBP Bank, Nestle among others.These projects were mainly in the area of CRM, Business Intelligence, and Transit and Enterprise Application Integration.

Sword Lebanon offers services to develop applications from scratch, re-engineer existing applications, and application management support services for existing applications that can be taken from customers then rebuilt. Sword Lebanon is currently expanding its operations in the Middle East.

IDAL, November 2012

BUSINESS EVENTS

TRADE FAIRS, CONFERENCES AND EXHIBITIONS

Food Security 2012 Sustainable intensification: miracle or mirage?

Monday 10 and Tuesday 11 December Chatham House, London Contact Conference Unit Chatham House Tel: +44 (0)20 7957 5729 Fax: +44 (0)20 7957 5710 conferences@chathamhouse.org http://www.chathamhouse.org 6th Annual Palestinian Capital Market Forum Brokerage Industry: Current Challenges & Future Prospects 11 December 2012 Leaders Hall, PADICO House Building, Al-Masyoun, Ramallah, Palestine Contact Palestine Exchange (PEX) Public Relations Department forum@pex.ps www.pex.ps Intersec 2013 The largest and most comprehensive exhibition and conference for security, safety and fire protection in the Middle East 15-17 January 2013 Dubai International Convention & Exhibition Centre, Dubai, UAE Contact Intersec Expo Tel: +971 4 389 4500 www.intersecexpo.com Offshore Middle East Under the Patronage of H E Dr Mohammed Bin Saleh Al-Sada, Minister of Energy & Industry 21-23 January 2013 QIEC, Doha, Qatar Contact Penn Well Tel: +44-1992-656646 The Hospitality Show 2013 The UK’s largest foodservice and hospitality show 21-23 January 2013 NEC Birmingham Contact Keterina Albanese Event Co-ordinator Tel: +44 (0) 207 886 3066 Email: keterina.albanese@freshmontgomery.co.uk http://www.hospitalityshow.co.uk

Middle East and North Africa Energy 2013 Adapting to new resource realities 28-29 January 2013 Chatham House, London, UK This conference will explore the intersection of energy, security, and international politics in the Middle East and North Africa and ask how changing global and regional dynamics are affecting the energy industry in the region.

Speakers include: HE Mohamed bin Dha’en Al Hamli, Minister of Energy, United Arab Emirates Contact Conference Unit Chatham House Email: conferences@chathamhouse.org Tel: +44 (0)20 7957 5729 www.chathamhouse.org Green Growth: Transforming economies for competitiveness and resilience?

25-26 February 2013 Chatham House, London, UK Contact Chatham House Email: conferences@chathamhouse.org www.chathamhouse.org 12th Annual Islamic Finance Summit 26-27 February 2013 The Landmark Hotel, London Contact Stacey Kelly Euromoney Seminars Tel: +44 (0) 20 7779 7222 Email: s_kelly@euromoneyplc.com www.euromoneyseminars.com/islamic2013 Paperworld Middle East 2013 5-7 March 2013 Dubai International Convention & Exhibition Centre, Dubai, UAE Contact Tel: +971 4 389 4500 www.paperworldME.com Unconventional Gas Key topics covered include technology advances, regional developments, gas market futures and investment.

6-7 March 2013 Copthorne Tara Hotel, London, UK Contact Andrew Gibbons Tel: +44 (0) 20 7827 6156 Email: agibbons@smi-online.co.uk

Oil and Gas Telecommunications 20-21 March 2013 Copthorne Tara Hotel, London Contact Jules Omura SMi Group Ltd Tel: +44 (0)20 7827 6018 Email: jomura@smi-online.co.uk World Luxury Expo 31 March-2 April 2013 St Regis Hotel Doha, Qatar Contact World Luxury Group Tel: +966 1 2795129 10th Leading CEO Conference: new strategies, challenges and opportunities 10 April 2013 Burj Al Arab Hotel, Dubai, UAE Contact Datamatix Group Tel: +971 4 332 6688 Email: info@datamatixgroup.com http://www.datamatixgroup.com/contactus.asp The Internet Show 2013 16-17 April 2013 Madinat Arena, Madinat Jumeirah, Dubai, UAE Contact Tel: +971 4 440 2500 Terrapinn http://www.terrapinn.com/exhibition/internetshow-middle-east/ Project Qatar 2013 10th International construction, building, environmental technology and materials exhibition 6-9 May 2013 Doha Exhibition Centre, Qatar Contact Al Sraiya Group building Ibn Seena Street, Al Muntazah Area, PO Box 22376, Doha, Qatar Tel: +974 44325693 Email: info@ifpqatar.com www.projectqatar.com The Mobile Show Middle East 14-15 May 2013 DICE, Dubai, UAE Contact Terrapinn Middle East Tel: +971 4440 2500 enquiry.me@terrapinn.com www.terrapinn.com Solar Maghreb Conference 21-22 May 2013 Casablanca, Morocco Contact Green Power Conferences Email: samantha.coleman@ greenpowerconferences.com www.greenpowerconferences.com/GSEC

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