In This Issue

o   LINK OF THE WEEK - SAUDI-US RELATIONS INFORMATION SERVICE
o   GULFWIRE FLASHBACK - OVER THREE YEARS OF GULFWIRE
o   BUSINESS & FINANCE NEWS
  ·   REGION
      - Energy Futures - 03.28.03
      - Crude Oil Prices Rise Sharply
      - Oil Shortage Rocks Markets
      - Oil Prices Briefly Top $30 A Barrel
      - GCC Customs Union Set to Spur Investment
      - Mideast Stocks on Rise
      - GCC Insights: Consequences of War on the Gulf
      - War to Soften Middle East IT Spending This Year
      - Kuwaitis Buy 10M Boxes of Water From Kingdom for US, British Troops
      - Maritime War Insurance Premiums Rise
      - Soaring War Risk Charges to Hit Aid Ships to Iraq
      - Saudi Banks Refuse to Buy Kuwaiti Dinar
  ·   BAHRAIN
      - Bahrain Gears Up for Global Islamic Finance Conference
      - Banking Jobs in Bahrain on the Rise
      - War on Iraq Hits Hotel Business
  ·   KUWAIT
      - Seventeen Wells in Ritqa Oil Field Resume Pumping Crude
      - Kuwait - US Teams are Working to Extinguish Oil Fires in Iraq - Centcom
      - Insurance Surcharge on Incoming Ships t Kuwait May Affect Port             
      - Kuwait Oil Output At Maximum Level Activity
  ·   OMAN
      - Oman Plans $200M Petrochem Plant in Thailand
  ·   QATAR
      - Qatar Adopts Deficit Budget
      - Exxon Mobil to Develop Qatar Gas Field
  ·   SAUDI ARABIA
      - No Capital Flight Due to War
      - US Aviation Firms Shut Down Offices in Kingdom
      - Report: Saudi's Oil Output in March Reaches 21-Year High
      - Bechtel, Dar Al-Riyadh to Sign $1.5B KAIA Deal
      - OFW Deployment to Saudi Arabia Restored
 ·   UAE
      - Hamdan to Open DH1.5B Investments Park
      - Dolphin Energy Shortlists Bidders for Three Major Offshore EPC Contracts       
      - Dubai Ports Expansion is Well Underway
      - Dubai to Launch Massive Economic Survey
      - Most Banks Fail to Meet Emiratization Targets
      - Investors Do Not Need Labor Card for Visa
      - Laborers Must Hold School Certificates
      - UAE In Deal With IBM Middle East

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News - Region

ARAB FOREIGN MINISTERS WILL SEEK HALT TO WAR
"Arab foreign ministers will seek ways to end a U.S.-led war on Iraq at a meeting in Cairo on March 31… …Many Arabs blame their governments for failing to prevent the conflict, and accuse them of political impotence. Arab diplomatic efforts in the run-up to the war failed to overcome deep differences between the League's 22 members on agreeing substantive proposals to help defuse the crisis…" Complete report…
~~GulfWire Link~~
ARAB MINISTERS FAIL TO AGREE ON IRAQ - GWD - Mar. 3, 2003

PENINSULA SHIELD HAS 'NO DIRECT LINK' WITH INVADING FORCES
"…Commander of the Peninsula Shield forces, disclosed [Mar. 25] that his forces have no direct link with US and British troops… …The Peninsula Shield forces were deployed in Kuwait in response to a resolution adopted by the GCC defense and foreign ministers. Saudi Arabia has sent the largest contingent…" Complete report…
~~GulfWire Link~~
KUWAIT TO GET 'PENINSULA SHIELD' DEFENSE FORCE - GWD - Feb. 10, 2003

MUSLIM STATES COULD PLAY BIG ROLE IN IRAQ RECONSTRUCTION
"One estimate for the cost of the Iraq war on the Arab economies is put at $100 billion, about 15 percent of the GDP of the Arab economies… …The Gulf Cooperation Council economies are projected to lose $68 billion…" Complete report…

GCC OPPOSES WAR ON IRAQ
"The GCC states are strongly opposed to the U.S.-led war against Iraq and hope that the conflicting parties will resort to negotiations to end hostilities and resolve their differences… …Abdul Rahman bin Hamad Al Attiya said he regretted that Arab states and other countries ignored proposals made by President His Highness Sheikh Zayed bin Sultan Al Nahyan before the outbreak of hostilities to find a peaceful solution and avert war…" Complete report…

BUSH PROMISES MID-EAST PLAN 'SOON'
"President George W Bush has promised that the so-called road map for peace between Israel and the Palestinians will be published 'soon'… …The road map sets out a process that aims to freeze construction of further Jewish settlements, return land occupied since September 2000, and create a Palestinian state by 2005…" Complete report…
~~GulfWire Link~~
BUSH PROMISES TO ADOPT PLAN FOR THE MIDEAST - GWD - Mar. 17, 2003
BUSH FREEZES MIDEAST PLAN DURING CRISIS IN IRAQ - GWD - Mar. 10, 2003

THE CULT OF ARAB BLOOD
"...this is about more than just Saddam Hussein and Iraq. There is a new pan-Arab patriotism being born in this war, an anti-American consciousness that believes in the clash of civilizations and the religious war of Islam against the Christians and Jews..." Complete report... 
~~GulfWire Link~~
OLD ARAB FRIENDS TURN AWAY FROM U.S. - GWD - Mar. 3, 2003

SAUDI ARABIA, EMIRATES TO REPLACE IRAQI OIL SUPPLY TO JORDAN
"Saudi Arabia and the United Arab Emirates are stepping in to provide Jordan with its oil needs, replacing Iraqi supplies that ceased last week on the first day of the U.S.-led war on Iraq, Jordanian and Saudi government officials confirmed [Mar. 25]..."  Source: AP

NEW YORK STOCK EXCHANGE BANS AL-JAZEERA REPORTERS
"The New York Stock Exchange (NYSE) has revoked the press credentials of reporters of Al-Jazeera.  Al-Jazeera claims the revocation was due to their coverage of the war with Iraq, but the stock exchange claims they are reducing the number of reporters due to security reasons.  Access is limited to networks that focus on business coverage..."  Source: KUNA

AL-JAZEERA CALLS ON US TO ENSURE FREE PRESS
"Banned on Wall Street and wiped off the Internet, Arab news channel Al-Jazeera defended its coverage of the Iraq war on [Mar. 26] and demanded the United States come to its aid in the name of a free press… …the CNN of the Arab world raised US ire when on Sunday it aired shaken US prisoners of war and dead US soldiers with gaping bullet wounds, prompting the Pentagon to issue an appeal to US networks not to use the footage…" Complete report…

STUDY IN CONTRAST: CNN VS. AL-JAZEERA
"...Both channels have large audiences in Saudi Arabia for breaking news from Iraq... ...However, CNN is continuing to disappoint its viewers in Saudi Arabia and the region with its biased reporting. Analyses, news coverage and correspondents' reports seem fixated exclusively on the advancement of the American and British forces and the success of their mission..."  Complete report...

ARABIC STATIONS COMPETE FOR ATTENTION
"Against the backdrop of the real war, another battle is shaping up across the Arabic-speaking world among television broadcasters vying for an audience addicted to news. Gone are the days when the region had to tune to Western networks. Although Al Jazeera, the satellite station based in Qatar, still dominates, newer, smaller channels are challenging its grip on Arab viewers. Al Jazeera's brashness and its broadcasts of far more graphic pictures than any other network ensures that critics track its every move..."  Complete report...

AIR CONTROL, NEW JETS BOLSTER GCC DEFENSES
"When Iraq invaded Kuwait in 1990 and threatened its neighbors, it was widely believed Gulf Arab states would be an easy prey for the advancing forces. But that is not the case now as the six GCC allies have significantly bolstered their defense capability… …a massive armament program launched by the GCC nations after 1990 has resulted in a substantial expansion in their armies, air and naval forces, and radar and air control systems…" Complete report…         

News - Bahrain

GAS BLAST ROCKS U.S. BASE IN BAHRAIN 
"A propane gas tank was ignited by protesters outside the U.S. Navy 5th Fleet base in Bahrain on [Mar. 24] night… …The explosion occurred outside a compound housing Americans across the street from the base. Windows were broken in several villas inside the compound…" Complete report…

News - Kuwait

KUWAITI OFFICIAL'S HOUSE IS FIREBOMBED IN BAHRAIN
The home of the Director of the Kuwait Fund for Economic Development was firebombed in Bahrain March 25.  There were no injuries sustained in the bombing and three other homes in the neighborhood were also bombed.
Source: KUNA

MILITARY SOURCE CONFIRM DEPLOYMENT OF KUWAITI MILITARY UNITS
"Kuwaiti military sources confirmed March 25 deployment of Kuwaiti military units throughout the Kuwaiti-Iraqi borders in the attempt to secure and protect them from a security breakthrough..."  Source:KUNA  

News - Oman

OMAN LIFTS VISA BAN
"The ban on visas on arrival has been lifted [Mar. 25], according to an official press release from the Royal Oman Police… …[Mar. 22] all airline offices were notified that no passenger should be allowed to board aircrafts unless they hold valid visas issued by the Immigration Authorities in Muscat. The same day, nationals of the U.S., Japan, South Korea, Canada and some European countries were exempted from the ban…" Complete report…

News - Qatar

News - Saudi Arabia

SAUDI MINISTER: US TIES MAY BE HIT IF WAR DRAGS ON 
"Saudi Arabia warned on [Mar. 26] that its long-standing alliance with the United States may be damaged if the U.S.-led war against Iraq drags on or turns into a bloodbath for Iraqi civilians… …Like most Arab states, key U.S. ally Saudi Arabia strongly opposes the war and has said it will not allow attacks on Iraq to be launched from its soil. But it remains the nerve center for military air operations and hosts several thousand U.S. and British airmen involved in patrolling a no-fly over southern Iraq, set up in compliance with U.N. resolutions after the 1991 Gulf War…" Complete report…

SAUDI ADVISORY BODY DEMANDS HALT TO WAR ON IRAQ 
"Saudi Arabia's Shura Council, a government-appointed advisory body, on [Mar. 24] demanded an immediate halt to the U.S.-led war against Iraq… …Saudi Arabia, birthplace of Islam, has publicly opposed a war on Iraq and said it would not allow attacks to be launched from its soil. But the kingdom is providing key support to U.S. and British aircraft involved in the conflict, and one of its military bases is the nerve center for the air war against Iraq…" Complete report…

SAUDI PROTESTS OVER STRAY CRUISE MISSILES
"Saudi Arabia said [Mar. 29] it had launched a formal protest with the United States after sea-launched Tomahawk cruise missiles fired on Iraq went astray and crashed in the kingdom. "The US government expressed its regret," said a defense ministry spokesman quoted by the official SPA news agency..."  Complete report...

SAUDI ARABIA SEEMS CALM, BUT, MANY SAY, IS SEETHING  
"With war rumbling beyond its eastern border and violent antiwar demonstrations rocking neighbors to the north and south, many people here wonder how long Saudi Arabia can maintain its eerie calm… …Saudi Arabia's royal family, many of whose most powerful members were educated in the United States, is caught between its longstanding American allies and an increasingly anti-American population deeply opposed to the war…" Complete report…

WAR STIRS POWERFUL EMOTIONS 
"The war in Iraq, now in its ninth day, has galvanized men and women at all levels in Saudi Arabia. There are new calls for a boycott of American goods, anti-war poetry reading sessions, and peace prayers all over the Internet… … There's a growing anxiety among expatriates who wish to return home. Their queries mainly relate to the employment or business opportunities available in their respective countries…" Complete report… 

SAUDI CLERICS DENOUNCE WAR IN SERMONS 
"Saudi preachers lashed out against the United States and its war on Iraq in Friday sermons, praying for Allah to inflict his wrath on America and help Muslims raise the banner of jihad… …Saudis, like most Arabs, are seething with rage against the war in Iraq. The government is having a hard time balancing its desire to keep the street calm while at the same time quietly helping the Americans in the war…" Complete report…

VICTIM OF RIYADH EXPLOSION IDENTIFIED AS TERRORIST
"The Ministry of Interior announced [Mar. 23] that the man who died in the explosion in a house in the Al-Jazeerah quarter in the eastern part of Riyadh last Tuesday has been identified as Saudi national Fahd bin Samran bin Omair Al-Sai'edi… …he received training on weapons and explosives in Afghanistan…" Complete report…

SAUDI ENVOY KILLED IN IVORY COAST
"The ambassador of Saudi Arabia has been found murdered in Ivory Coast's commercial capital, Abidjan… …The BBC's correspondent in Abidjan, Paul Welsh, quotes diplomats as saying his murder does not appear to be politically motivated…" Complete report…

PROTECTION AGAINST RADIATION ENSURED
"The Kingdom has put in place an emergency plan to protect its people and environment against any nuclear accident or doses of high radiation from industrial disasters or bombardment… …Six radiation monitoring stations and early warning systems were currently functioning exclusively in the northeastern part of the Kingdom, close to the Iraqi border…" Complete report…

SAUDI GOVT HAILED FOR VISAS TO OFWS FROM KUWAIT
"The Philippine Embassy expressed his thanks [Mar. 24] to the Saudi government for granting 15-day emergency transit visas to overseas Filipino workers (OFWs) who might cross the border from Kuwait… …evacuating OFWs would be repatriated and sent back to Manila…" Complete report…

NO TIMETABLE FOR SAUDI OIL DELIVERIES TO JORDAN
"No timetable has been set for Jordan's first consignment of oil from Saudi Arabia in over 10 years… …With its oil supply from Iraq cut off at the outbreak of the US-led war, Amman has been hastily seeking alternative sources…" Complete report…

LEADING SAUDI DISSIDENT 'FREED'
"A leading pro-reformist cleric has been freed after spending eight years in jail without trial in Saudi Arabia… …Sheikh Zuair was arrested at his home in the Saudi capital, Riyadh, after calling for more democracy in the staunchly conservative kingdom. He was also held for objecting to a religious edict allowing peace with Israel…" Complete report…

KINGDOM NOT TO ACCEPT IRAQI REFUGEES: SRCS
"The president of the Saudi Red Crescent Society… …has said that the Kingdom would not accept any Iraqi refugee on its territory and would only extend the necessary aid to Iraqis inside the Iraqi territory…" Complete report…

News - UAE

RCS RELIEF AID CROSSES INTO IRAQ
Three trucks carrying 70 tons of foodstuff and relief aid crossed a checkpoint on Jordan-Iraq border [Mar. 29] for distribution among the people in war-stricken Iraq. The truckloads are the first batch of humanitarian aid the UAE Red Crescent Society (RCS) has vowed to extend to the Iraqi people in a bid to alleviate their ordeal..."  Source:Emirates Bulletin No. 058, March 30

ABU DHABI TV WINNING WAR OF THE NEWS NETWORKS
"If it was Al Jazeera which stole the limelight during the Afghan crises, it is Abu Dhabi Television (ADTV) which is emerging as the front liner in feeding 'crucial' footage on the Iraq war to international networks… …The main reason for ADTV's edge over their international and regional competitors, is the strategic location of their bureau which in the center of Baghdad…" Complete report…

DUBAI PLANS INTERNATIONAL FILM FESTIVAL NEXT YEAR
"Dubai is to host an international film festival next March, with plans to develop it into an annual event bringing together films and film personalities from around the world… …The first DIIF will extend over seven days, with films chosen from the main movie producing markets of the Americas, the Subcontinent, Europe, the Far East and the Middle East…" Complete report…

GROUNDWATER LEVELS DECLINING RAPIDLY
"Groundwater reservoirs in the UAE are suffering rapid and unrecoverable depletion while comprehensive and sound water management strategies and regulations are still to be set… …The fast depletion of groundwater resources is a result of excessive pumping for all purposes, and limited recharge…"
Complete report…

FNC DISCUSSES DRAFT LAW ON ARMED FORCES RECRUITMENT
"The Federal National Council (FNC)[Mar. 25] discussed a new draft law presented by the Ministry of Defense, concerning recruitment of UAE nationals in the Armed Forces… …The draft law outlines the conditions that must be met by UAE nationals in order to be recruited as officers in the Armed Forces…" Complete report… 

Link of the Week

LINK OF THE WEEK

SAUDI-US-RELATIONS INFORMATION SERVICE

The Saudi-U.S. Relations Information Service (SUSRIS) web site is part of a private sector, information service highlighting the characteristics, strength and importance of the U.S.-Saudi relationship.

The SUSRIS is a public service of the National Council on U.S.-Arab Relations as an element of its mission: To educate Americans about Arab countries, the Middle East, and the Islamic world through leadership development, people-to-people programs, lectures, publications, and grassroots outreach.

The SUSRIS, along with its companion site the Saudi-American Forum, provides information on a broad range of topics that underscore the Saudi-US relationship, as well as interactive features, such as an expansive discussion forum and subject fact sheets, briefings, links and more. As the service develops we will pack the site with hard to find resources to assist visitors in learning the details of the historic ties between these countries.        

GulfWire Flashback - 3 Years of GW

<<ONE YEAR AGO>>

FROM GULFWIRE DIGEST (#140) WEEK OF APRIL 1, 2002

ACROSS THE MIDEAST, AN OUTPOURING OF ANGER AND A SHOW OF SUPPORT
"Protests against Israel and the United States intensified across the Middle East… …Protesters seemed especially galvanized by President Bush's remarks on Saturday. Men and women across the spectrum of age and economic status said they were appalled by the picture of Mr. Bush, relaxing on his ranch in a blue jean shirt, suggesting that Yasir Arafat, the Palestinian leader, do more to stop terrorism while they watched Israeli tanks smashing through the West Bank and the corpses left behind by Israeli soldiers…" 

<<TWO YEARS AGO>>

FROM GULFWIRE DIGEST (#90) WEEK OF APRIL 2, 2001

KUWAIT SAYS IRAQ STILL HAS HOSTILE INTENTIONS
"Iraq's policies were to blame for the 'tragic reality faced by the Iraqi people and the region...which will only lead to further tension and instability.'"

<<THREE YEARS AGO>>

FROM GULFWIRE DIGEST (#38) WEEK OF MARCH 27, 2000

DOHA-MANAMA RELATIONS
"The first Qatari ambassador to Bahrain was named according to the Qatar News Agency cited by Reuters on March 23.  Shaikh Abdullah Bin Thamer Al-Thani was named as ambassador by Crown Prince Shaikh Jassim Bin Hamad Al-Thani on Wednesday.  The announcement marks the latest step in improving relations between Doha and Manama, who have quarreled over territorial claims."

Business News - Region

[GulfWire] ENERGY FUTURES - 03.28.03
Light Crude (NYM)  $30.16 bbl DOWN from $26.78 bbl on 03.21.03
Brent Crude (IPE)  $25.85 bbl DOWN from $24.35 bbl on 03.21.03
Heating Oil (NYM)  $.763 gal DOWN from $.711 gal on 03.21.03
Natural Gas (NYM)  $5.145 mmbtu DOWN from $5.12 mmbtu on 03.21
Unleaded Gas (NYM) $.9445 gal DOWN from $.845 gal on 03.21.03
Source: CNNfn

The Best Energy Resource in the World: Country Analysis Briefs by DOE/EIA

CRUDE OIL PRICES RISE SHARPLY
"The unexpected resistance by Iraqi military to the U.S.-led invasion caused a sharp rebound in crude oil prices [Mar. 24] as new concerns about a sabotage threat at oil wells in southern Iraq slowed allied attempts to secure the fields… …The rebound in oil prices was fundamentally a backlash from the optimism of oil traders at the war's outset…" Complete report…

OIL SHORTAGE ROCKS MARKETS
"Oil prices have marched higher and key share indexes have fallen, as the war in Iraq continues to dominate world markets… …The commander of UK forces in the Gulf said on [Mar. 27] that it would take three months for oil exports to resume from Iraq's southern oilfields, longer than some had expected…" Complete report…

OIL PRICES BRIEFLY TOP $30 A BARREL
"Oil prices briefly rose above $30 a barrel [Mar. 27] for the first time since war broke out in Iraq as concerns about worldwide supplies replaced early hopes for a quick end to the military conflict… …For now, oil traders are retreating from the view of ample supplies that emerged during the first 48 hours of the war…" Complete report…

GCC CUSTOMS UNION SET TO SPUR INVESTMENT
"A landmark decision by the six GCC states to create a customs union early this year and push towards a monetary merger will trigger a wave of investment… …But experts cautioned the GCC countries, which approved their historic customs union on January 1, must ensure the project will be fully implemented so investors will not be disheartened by any sudden or outstanding hurdles…" Complete report…

MIDEAST STOCKS ON RISE
"Middle Eastern stock markets bucked the global trend and continued their rise in the week ending [Mar. 27], despite concern that the war on Iraq might drag on as Iraqi forces show stiff resistance. Saudi Arabia's Tasi all-shares index, tracking the largest market in the Arab world, soared by 4.5 per cent on the week to close on 2,706.14 points [Mar. 27]..."  Complete report...

GCC INSIGHTS: CONSEQUENCES OF WAR ON THE GULF
"The U.S.-led war against Iraq will leave its imprints on the GCC economies… …the military conflict has resulted in numerous problems including higher insurance premiums; drop in aviation activity; decline of business confidence and the threat of capital flight. But there are positive elements, namely, higher oil prices and post-war business opportunities…" Complete report…

WAR TO SOFTEN MIDDLE EAST IT SPENDING THIS YEAR
"The war in Iraq will have a dampening effect on the corporate and government IT spending in the Middle East region in the next two quarters, said Cesare Cardone, chief executive officer of Gulf Business Machines (GBM)..."  Complete report...

KUWAITIS BUY 10M BOXES OF WATER FROM KINGDOM FOR US, BRITISH TROOPS
"Kuwaiti agents bought 10 million boxes of water from Saudi factories for American and British forces in Kuwait… …sources at the water market warned of a production crisis in the coming days as temperature rises and more water to be exported to Kuwait now or Iraq in the near future as part of aid to be sent to the Iraqi people…" Complete report…

MARITIME WAR INSURANCE PREMIUMS RISE
"Premiums for maritime war insurance have increased by more than 300 percent to some ports in the Gulf, mainly Kuwait, due to the war in Iraq, a Saudi maritime official said..."  Complete report... 

SOARING WAR RISK CHARGES TO HIT AID SHIPS TO IRAQ
"War insurance premiums have more than doubled for ships calling at Iraqi ports in the past 48 hours, a leading Lloyd's syndicate said on Friday, signaling a cost that will hit aid agencies pouring relief into Iraq..."  Complete report...

SAUDI BANKS REFUSE TO BUY KUWAITI DINAR
"Six Saudi banks refused to buy Kuwaiti dinar in cash as the value of the Kuwaiti currency has dwindled in the black market to SR5 compared to SR12.5 in official transactions… …sources accused Kuwaitis of contributing to the fall in price of their own currency as they accept to sell for less than the official price. The Saudi Arabian Monetary Agency (SAMA) stressed that Saudi banks, will stick to the official price of the Kuwaiti currency…"  Complete report…

Business News - Bahrain

BANKING JOBS IN BAHRAIN ON THE RISE
"A Bahrain Monetary Agency (BMA) survey indicated employment in Bahrain's banking and finance industry rose 3.3 percent in 2002, employing a total of 6,215 people as compared with 6,015 at the end of 2001, Gulf Daily News reported..."  Complete report...

WAR ON IRAQ HITS HOTEL BUSINESS
"Business has nose-dived for Bahrain's top hotels thanks to the war on Iraq, with the slump threatening to blight the entire year..."  Complete report... 

Business News - Kuwait

KUWAIT-US TEAMS ARE WORKING TO EXTINGUISH OIL FIRES IN IRAQ - CENTCOM
"Kuwaiti teams and the US are working in Southern Iraq to extinguish burning oil fields.  Three oil wells are still on fire in the Rumailah oil field in southern Iraq..."  Source:
KUNA  

INSURANCE SURCHARGE ON INCOMING SHIPS TO KUWAIT MAY AFFECT PORT ACTIVITY
"Surcharges on incoming ships to Kuwait might have a limited negative effect on port activity, which could lead to ships opting to dock in alternative ports other than Kuwaiti ones..."  Source: KUNA

KUWAIT OIL OUTPUT AT MAXIMUM LEVEL
"Kuwait oil output will remain at its maximum level to fulfill market needs stated director of Kuwait Oil Company.  Kuwait's maximum production is 2.4 million barrels per day..."  Source:
KUNA 

Business News - Oman

Business News - Qatar

EXXON MOBIL TO DEVELOP QATAR GAS FIELD
"Exxon Mobil Corp. said [Mar. 27] it has agreed to begin developing the Al Khaleej gas project in Qatar under a joint venture with the state-owned Qatar Petroleum… …The facility will produce gas from Qatar's North Field, recover natural gas liquid and sell 1.75 billion cubic feet per day of pipeline gas for domestic customers and export. The first gas is expected in late 2005…" Complete report…

Business News - Saudi Arabia

US AVIATION FIRMS SHUT DOWN OFFICES IN KINGDOM
"Two US companies that help maintain the Saudi Arabian Airlines fleet have closed their offices indefinitely and advised foreign staff to leave the Kingdom because of the war in Iraq… …Honeywell International and Boeing Co. had given their non-Saudi employees return visas before the war began and asked them to leave…" Complete report…

REPORT: SAUDI'S OIL OUTPUT IN MARCH REACHES 21-YEAR HIGH
"A report by a leading energy consultancy, Geneva-based Petrologistics, said on [Mar. 28] Saudi Arabia led a heavy increase in OPEC oil production in March, thus preventing crude oil prices from spiking as the US-led war in Iraq started, Arab News reported.  The report said Saudi Arabia averaged 9.65 million barrels per day - the highest crude oil production in 21 years and very close to its 10.5 million barrels per day capacity..."  Complete report...

BECHTEL, DAR AL-RIYADH TO SIGN $1.5B KAIA DEAL
"The Civil Aviation Authority is to sign an agreement worth SR5.63 billion ($1.5 billion) with Bechtel Saudi Arabia and Dar Al-Riyadh soon for the expansion of King Abdul Aziz International Airport (KAIA)… …The project, one of the most ambitious undertaken by the presidency, is expected to unify international flight operations of all aircraft, including those of Saudi Arabian Airlines, and facilitate the movement of passengers…" Complete report…

OFW DEPLOYMENT TO SAUDI ARABIA RESTORED
"The Overseas Employment Administration (POEA) has restored the deployment of overseas Filipino workers (OFWs) to Saudi Arabia except in areas near the border of Iraq… …Last week, the POEA temporarily suspended the deployment of OFWs to Saudi Arabia, Israel, Kuwait and Iraq…" Complete report…

Business News - UAE

DOLPHIN ENERGY SHORTLISTS BIDDERS FOR THREE MAJOR OFFSHORE EPC CONTRACTS 
"Dolphin Energy Limited (DEL) [Mar. 23] published a short-list of qualified bidders for the three Engineering, Procurement & Construction (EPC) packages which make up the offshore element of the Dolphin Project… …The Dolphin Project is a unique strategic regional energy initiative. It involves development of natural gas reserves from Qatar's offshore North Field, their processing onshore at Qatar's Ras Laffan - and transportation by export pipeline of up to 3.2 billion cubic feet a day (bcf/d) of refined product to the UAE…" Complete report…

DUBAI PORTS EXPANSION IS WELL UNDERWAY 
"Dubai Ports Authority (DPA) has completed ahead of schedule the development of berth 11 and extension of its corresponding container yard area at Jebel Ali, in addition to further container storage areas at neighboring berths, as part of the Master Plan announced in January.  The development and expansion project is in response to the phenomenal growth in business that DPA has witnessed over the last two years, and mirrors DPA's unflinching belief in real and expected regional growth..."  Source: Emirates Bulletin No. 058, March 30

DUBAI TO LAUNCH MASSIVE ECONOMIC SURVEY
"A Comprehensive Economic Survey for Private Establishments in Dubai, which will start on March 31, will be carried out by the Statistics Center at Dubai Municipality… …the Statistics Center will provide statistics that will help the decision makers of the emirate, planners, researchers and investors…" Complete report…

MOST BANKS FAIL TO MEET EMIRATIZATION TARGETS
"The majority of banks have not been able to meet the emiratization targets set by the authorities… …only 19 banks managed to meet the target… … Banks which did not meet their annual 4 per cent growth in emiratization quotas last year will be asked to contribute to a common fund that will be used to train citizens for a career in banking…" Complete report…

INVESTORS DO NOT NEED LABOR CARD FOR VISA 
"The Ministry of Labor and Social Affairs will stop issuing labor cards for investors under an agreement with the Ministry of Interior… …investors and business owners need not to apply for labor cards with the ministry as one of the measures to complete the transactions for obtaining their residence visas…" Complete report…

LABORERS MUST HOLD SCHOOL CERTIFICATES
"Expatriates seeking jobs in the private sector must hold at least a high school certificate or an equivalent degree… …The decision exempts laborers in the construction sector and Arab workers…" Complete report…

UAE IN DEAL WITH IBM MIDDLE EAST
"The UAE Ministry of Finance and Industry and IBM Middle East signed a contract for the implementation of the first phase of the federal e-government project which will start next month and is scheduled for completion in November…" Complete report…

Contact Info

Publisher: Dr. John Duke Anthony
Editor-in-Chief: Patrick W. Ryan
Deputy Editor: Connie R. Trisdale
Editorial Assistant: Margaret Philpot
Research Assistant: B.F.Hammock

Email: GulfWire@ArabiaLink.com
URL: http://www.ArabiaLink.com 

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