Byblos Bank: Country Risk Weekly Bulletin (28-Jun-12)
2012-06-29 12:35:00
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BMI: United Arab Emirates Telecommunications Report (Jun-12)
2012-06-29 11:42:00
Includes 3 FREE Quarterly Updates.BMI’s Q312 update to the UAE’s telecommunications market report ...
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Includes 3 FREE Quarterly Updates.BMI’s Q312 update to the UAE’s telecommunications market report incorporates market data from the Telecommunications Regulatory Authority (TRA) and telecoms providers Etisalat and Emirates Integrated Telecommunication Company (du) relating to the end of March 2012. It contains an analysis of the mobile, fixed-line and broadband markets, and recent regulatory developments. It also contains our growth estimates for the key sectors during our forecast period, through to 2016.Perhaps the most notable new development since our last report is the launch of commercial LTE network services by second-ranked du in June 2012. The operator reports the service is capable of speeds of 150Mbps, although existing devices can only support transmission of 100Mbps. The launch follows that of rival Etisalat, which launched LTE services in 2011. du has launched the service using 1,800MHz spectrum, in contrast to the more commonly used 800MHz or 2.6GHz bands.According to the TRA, there were 12.367mn mobile subscribers in the UAE at the end of March 2012. This is growth of 5.5% q-o-q, significantly higher than average quarterly growth of 1.8% during 2012. The market recorded net additions of 640,000 subscribers in Q112, equivalent of around 80% of the total net additions of 801,000 recorded in the 12 months to December 2011. Despite the UAE’s relatively high mobile penetration rate, we forecast positive growth in the mobile market over the next five years. We forecast an overall growth of 9.5% during 2012 and average growth of 2.2% for the five years to 2016.This will bring the mobile subscriber base to around 14mn subscribers, a penetration rate of 165%. We note that the fixed-line market will experience upside pressure from increased competition between Etisalat and du due to the implementation of carrier pre-selection services. However, this will be counterbalanced by increasing fixed to mobile substitution, which we expect to intensify with th
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Deloitte: Middle East Point of View - Planning / Failing To Fail / Plan (Jun-12)
2012-06-29 09:57:00
With the rise of social media platforms, it has become easier than ever to participate in all that ...
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With the rise of social media platforms, it has become easier than ever to participate in all that is pertinent to one’s existence. As reputational risk stands at the mercy of the 'send' button, firms should assess how prepared they are to respond to unfavorable publicity or an unsparing journalist. Or a case of internal fraud.The issue of cancer is also at the forefront in this issue. It is the second time that the Middle East Point of View covers this issue. Unfortunately, maintaining healthcare on policy makers’ list of priorities has become a challenge in itself as governments in the region grapple with unprecedented political and economic challenges.
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Banque Audi: MENA Weekly Monitor (22-Jun-12)
2012-06-27 08:57:00
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BMI: United Arab Emirates Petrochemicals Report (May-12)
2012-06-26 12:52:00
Includes 3 FREE Quarterly Updates.This quarter’s UAE petrochemicals report examines the continuing ...
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Includes 3 FREE Quarterly Updates.This quarter’s UAE petrochemicals report examines the continuing expansion of polyolefins and aromatics production centred on Abu Dhabi. We also look at how the sector will continue to respond to changes in the structure and pace of growth in the Chinese market.BMI also analyses the competitive advantages of petrochemicals production in the UAE, which has joined other Gulf states in pressing ahead with highly integrated mega-projects, but warn that a lack of diversification (which could add value to output) will mean that the industry’s margins are likely to remain sub-optimal. We also highlight that the UAE is attempting to overcome its reliance on commodity chemicals through the development of a plastics conversion industry.Polyolefin manufacturer Borouge expects the expansion of its complex in Ruwais, Abu Dhabi, to be fully on stream in mid-2014, following completion of construction by end-2013. The Borouge 3 expansion will add capacities of 1.5mn tonnes per annum (tpa) ethylene, feeding large polyethylene (PE) and polypropylene (PP) units. The planned Chemaweyaat complex, which Abu Dhabi hopes will be the world’s largest petrochemical complex, will include an olefins plant, an aromatics complex and a range of downstream polymer and chemicals units. It is due to enter production in 2015, but BMI believes that 2016 is more realistic. The first part of the development, Tacaamol, will use heavy naphtha feed for its aromatics units and a lighter naphtha feed to supply a mixed-feed cracker producing 1.5mn tpa ethylene and 690,000tpa propylene. These will feed downstream plants producing polymers, xylenes and other derivatives.Over the last quarter BMI has revised the following forecasts/views:- By 2016, BMI expects ethylene capacity of 5mn tpa in the UAE, up from an estimated 2mn tpa in 2011, with PE more than tripling to 3.52mn tpa and PP rising by nearly 170% to 2.14mn tpa over the period.- Key issues that will have an i
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