SICO: GCC Economics (14-Jun-11)
2011-06-14 14:09:00
This is a PDF report.
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This is a PDF report.
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BMI: UAE Consumer Electronics Industry Report (May-11)
2011-06-12 12:53:00
The UAE?s consumer electronics devices market, defined as the addressable market for ...
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The UAE?s consumer electronics devices market, defined as the addressable market for computingdevices, mobile handsets and video, audio and gaming products, is estimated to reach a value ofUS$3.4bn in 2011. This is expected to increase to US$4.3bn by 2015, driven by the popularity of newelectronic devices such as LED and 3G TV sets, 3G mobile handsets, smartphones, feature-richnotebooks, MP3/MP4 players and Blu-ray players.In H111, UAE retailers reported a surge in demand for consumer electronic products, in many casesfuelled by price cuts. Retailers partly attributed the rebound to recovering markets and an improvementin consumer confidence, which had been damaged by the Dubai financial crash. However, pricereductions also seemed to be a significant driver.Significant obstacles still stand in the way of a more pronounced recovery, including weak creditconditions and Dubai's onerous debt repayment schedule this year. The shift towards more cautiousdomestic spending patterns is likely to persist well into 2011, with overall consumption growth remainingmuted, particularly in Dubai. However, Dubai benefited most from a pick-up in the tourist trade,providing a boost to the important carry trade for electronics goods.
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BMI: UAE Petrochemicals Report (May-11)
2011-06-12 12:09:00
Tied to oil prices, naphtha prices have risen at a steep rate, widening the differential with ...
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Tied to oil prices, naphtha prices have risen at a steep rate, widening the differential with cheaper ethanefeedstock used by regional peers Saudi Arabia and Qatar with which the UAE is competing for the Asianpolymers market, according to BMI?s latest UAE Petrochemicals Report. The situation has beenmitigated somewhat by the lower margins for refineries producing naphtha, with the premium over crudenarrowing due to rising global naphtha supplies.The availability of naphtha in the UAE will be boosted by the refinery expansion at Ruwais, helping toretain the Emirati industry?s competitive edge. The expansion will more than double the refinery?s oilprocessing capacity to over 1mn b/d by 2014, from 774,000b/d in 2010. This will increase Abu Dhabi?snaphtha surplus by 50%, half of which will be dedicated to the planned Chemaweyaat complex, which theemirate hopes will be the world?s largest petrochemical complex.Nevertheless, currently planned projects are likely to proceed over the next five years. Borouge isconfident upstream supply will be sufficient for its expansion programme. Although BMI has in the pastvoiced concerns that Borouge 3 could be scaled back or scrapped altogether due to a lack of feedstock,Borouge?s feasibility studies show that there is enough feedstock to supply the planned plants withouthaving to rely on heavier feedstocks such as naphtha.The second phase of the Borouge complex at Ruwais, Abu Dhabi, began production in mid-2010 with a540,000tpa PE unit coming onstream in July. In Q410, an olefins conversion unit producing 752,000tpapropylene, together with 50,000tpa of propylene delivered from Adnoc?s refinery, began supplying thetwo Borstar PP units with combined capacity of 800,000tpa. Borouge 2 will triple Borouge?s polyolefinscapacity to 2mn tpa when it becomes fully operational by mid-2011. An additional 2.5mn tpa is scheduledonline in 2013, following the completion of Borouge 3. The new capacity will be m
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Dubai Total Government Debt At AED115.4B, 38% Of GDP
2011-06-11 08:43:49
The total outstanding external term borrowings of the Government of Dubai stood at 115.4 billion U.A ...
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The total outstanding external term borrowings of the Government of Dubai stood at 115.4 billion U.A.E. dirhams ($31.4 billion) as on May 20, 2011, in addition to which the government also has financial contingencies and extended guarantees, according to an investor presentation made Friday by the emirate's department of finance.
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Nakheel Gets Approval From 98.63% Of Its Creditors
2011-06-10 08:49:08
Nakheel, the real-estate unit of Dubai government-owned conglomerate Dubai World, said late Thursday ...
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Nakheel, the real-estate unit of Dubai government-owned conglomerate Dubai World, said late Thursday it had secured the approval of 98.63% of its creditors on its restructuring plan.
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