Meena - Business News - June 19, 2024 - Vol (54)
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As a part of our services we provide through Meena Business Consultancy Services, Our team in here are dedicated to delivering customized market insights, business intelligence, and updates on tenders and business opportunities from prominent regions such as Iraq, Kingdom of Saudi Arabia, UAE, Qatar and Pakistan. Additionally, we provide an updated list of fairs and exhibitions in these countries to facilitate our partners in making well-informed strategic decisions.
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IRAQ:
Iraq, Syria Sign Investment Cooperation Protocol
Dr. Haidar Mohammed Makiyya, head of Iraq's NIC, and Ms. Nada Laiqa, Director General of Syria's SIA, signed a protocol to attract FDI by exchanging information and prioritizing investment opportunities. The protocol, attended by representatives from Iraq's Ministries of Oil and Communications, aims to strengthen economic cooperation and development zones. Ms. Laiqa expressed gratitude for Iraq's commitment to boosting trade relations with Syria.
Wood Wins $46m Contract with TotalEnergies in Iraq
Scottish consulting and engineering company Wood secured a $46 million, three-year contract from TotalEnergies in Iraq. Wood will handle front-end engineering design, detailed design, procurement support, and construction and commissioning for the Associated Gas Upstream Project in Southern Iraq. This project aims to reduce emissions, enhance local employment, and involves 100 new positions in Basra and Dubai.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
KINGDOM of SAUDI ARABIA:
Red Sea Global awards Turtle Bay hospital contract
Saudi Arabia's Red Sea Global (RSG) has contracted Abdullah Saeed Alsayed & Partners to build a hospital in Amaala's Turtle Bay. The Ministry of Health approved the designs, and construction will start immediately. The project aims for the Red Sea Project's first phase to finish in 2025 and Amaala by 2027, with full completion by 2030.
领英推荐
Firms invited to prepare GCC railway project plan
The GCC railway project aims to connect the six GCC states with a 2,100-kilometre-long rail network. The General Secretariat of the Cooperation Council for the Arab States of the Gulf has issued a tender for an operational plan study, with submissions due by 7 July. Since the project's restart in January 2021, all six GCC states have made progress, with the establishment of the GCC Rail Authority in January 2022 enhancing coordination and delivery.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
UNITED ARAB EMIRATES:
Amwaj breaks ground on Meydan project
UAE-based Amwaj Development has commenced its first Dubai residential project, Starlight Park, a four-building community in Meydan's District 11, offering 172 apartments. The project will be completed by Q2 2026. The UAE's construction industry is projected to grow by 4.6% in 2024.
Abu Dhabi to tender Taweelah C imminently
Abu Dhabi's Emirates Water & Electricity Company (Ewec) plans to tender the Taweelah C combined-cycle gas turbine (CCGT) independent power project (IPP) contract by the end of this month. The 2,700MW plant is expected to begin operation by 2027, with a power-purchase agreement expiring in 2049. Ewec's next CCGT plant RFPs will require carbon-capture facilities to align with the UAE's net-zero carbon emissions goal by 2050.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
QATAR:
QatarEnergy wins India naphtha supply deal
QatarEnergy will supply Haldia Petrochemicals with up to 2 million tonnes of naphtha over 10 years, starting in the second quarter of 2024. This long-term agreement is the largest commitment between the two companies. Haldia Petrochemicals, based in West Bengal, relies on naphtha as its primary feedstock.
Qatar ranks fourth globally in economic performance for 2024
Qatar ranked 11th in the World Competitiveness Yearbook 2024 by the International Institute for Management Development, improving from 12th last year. The country excelled in economic performance (4th), government efficiency (7th), business efficiency (11th), and infrastructure (33rd). These results reflect Qatar's leadership and its progress towards the Qatar National Vision 2030.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
PAKISTAN:
Pakistan's inflation to decline in FY25: Fitch
As Pakistan prepares to enter a new International Monetary Fund (IMF) programme, Fitch Ratings has predicted a drop in inflation and interest costs in the country during FY25. The rating agency, in its statistical analysis of Pakistan, stated that the inflation will remain at 12% in the economic crisis-hit country.?
PM Shehbaz, Turkish president pledge to bolster bilateral ties
Prime Minister of Pakistan Muhammad Shehbaz Sharif and President of Turkiye Recep Tayyip Erdogan on Sunday reaffirmed their commitment to further strengthen bilateral cooperation between the two countries in various fields, including trade, investment, defense, and tourism.
Price bombs
There was a time not too long ago when the faces we see sitting in government today would cry themselves hoarse over a single rupee’s increase in the per-unit price of electricity. They would beat their chests and take to the streets, threatening to send the government packing over its inability to manage runaway prices. Oh, how the times have changed. Days after dropping?tax bombs?that will further eviscerate the struggling masses, the authorities have announced that not only will they be taking more money out of the paychecks of salaried individuals, they will also be squeezing whatever is left through significantly jacked up electricity bills. According to news reports, NEPRA has?hiked?the uniform national tariff for the base price of electricity by almost 20pc to hand over electricity distribution companies almost half a trillion rupees more over the next fiscal year.
Kindly review this list of fairs and exhibitions. Schedule appointments and promote your business effectively.
Meena - Business News delivers timely updates on investments, business trends, tender information, fair listings, and risk analysis in IRAQ, KSA, UAE, QATAR, and Pakistan.
We emphasize the abundant opportunities available and stand ready to support your business development endeavors in these potential countries.
June 19, 2024