Matt's Feed
Jun 24, 2015

Qatar building materials costs to surge ahead of 2022

DUBAI (Reuters) – The cost of construction materials in Qatar is likely to jump as the host nation intensifies infrastructure building ahead of the 2022 World Cup, and other building projects could finish late as a result, industry experts say.

Qatar is set to spend more than $200 billion on the soccer tournament as part of a 2030 development plan, although tough contract terms and state bureaucracy have left some contractors in difficulties.

Jun 23, 2015

Qatar building boom proves a challenge for foreign construction firms

DUBAI, June 23 (Reuters) – Construction of the Sharq
Crossing, Qatar’s $12 billion bridge and underwater tunnel link
across Doha bay, was due to start this year to be ready for the
2022 World Cup, but that deadline
has slipped as the government shifts priorities.

The Gulf state’s plans to splurge $200 billion on
infrastructure as part of its 2030 development plan has lured
foreign contractors to what promised to be big profits, but
project delays and problems with contracts and bureaucracy have
left many in difficulties and their returns uncertain.

Jun 22, 2015

Dubai property prices likely to fall 10-20 pct in 2015 -S&P

DUBAI, June 22 (Reuters) – Dubai residential property prices
are likely to fall 10 to 20 percent this year because of subdued
demand, slower economic activity and downbeat investor
sentiment, credit rating agency Standard & Poor’s said on
Monday.

“Slightly lesser demand will come from non-residents,” S&P
said in a statement. “In early 2015, non-resident demand from
Russia and other member countries of the Gulf Cooperation
Council was particularly subdued.”

Jun 18, 2015

Dubai satellite insurer elseco’s revenue to quadruple by 2020 – CEO

DUBAI, June 18 (Reuters) – Dubai-based elseco, one of the
world’s largest satellite insurers, expects its revenue to
quadruple by 2020 as it expands coverage of energy and aviation,
the firm’s chief executive told Reuters.

CEO Laurent Lemaire is Elseco’s sole owner. The Frenchman
founded the company in 2006 that today employs 27 staff.

Jun 15, 2015

Iraq’s telecom regulator scraps $100 mln fine against Kuwait’s Zain

DUBAI, June 15 (Reuters) – Iraq’s telecoms watchdog has
scrapped a $100 mln fine imposed on the country’s largest mobile
phone operator, Zain Iraq, Kuwaiti parent firm Zain
said on Monday, ending a case that had dragged on for several
years.

In 2011, the Communication and Media Commission (CMC)
claimed Zain Iraq, which will list on the Iraq Stock Exchange on
June 23, had sold mobile phone sim cards without its permission.

Jun 14, 2015

Networks must improve for Iraq to be Internet transit hub: executive

By Matt Smith

(Reuters) – A more reliable terrestrial broadband network could enable Iraq to become a transcontinental transit route for Internet traffic, a senior executive at one of two firms providing submarine connectivity to the war-torn country told Reuters.

Iraq is ideally located to carry Internet traffic between Asia and Europe and built a submarine cable landing station at Al Faw on Iraq’s Gulf coast to do so.

Jun 14, 2015

Networks must improve for Iraq to be Internet transit hub – exec

June 14 (Reuters) – A more reliable terrestrial broadband
network could enable Iraq to become a transcontinental transit
route for Internet traffic, a senior executive at one of two
firms providing submarine connectivity to the war-torn country
told Reuters.

Iraq is ideally located to carry Internet traffic between
Asia and Europe and built a submarine cable landing station at
Al Faw on Iraq’s Gulf coast to do so.

Jun 3, 2015

Saudi stadium plan scaled back as oil drop bites: sources

DUBAI (Reuters) – Saudi Arabia’s plans to dramatically increase the size and scope of football stadiums around the country have “been shelved” because of the impact of falling oil prices, sources have told Reuters.

Under plans announced by the late King Abdullah — who died in January — 11 new grounds were to be built as a means of growing the domestic game in the kingdom.

Jun 3, 2015

Soccer-Saudi stadium plan scaled back as oil drop bites -sources

DUBAI, June 3 (Reuters) – Saudi Arabia’s plans to dramatically increase the size and scope of football stadiums around the country have “been shelved” because of the impact of falling oil prices, sources have told Reuters.

Under plans announced by the late King Abdullah — who died in January — 11 new grounds were to be built as a means of growing the domestic game in the kingdom.

Jun 3, 2015

Vodafone Qatar’s Q4 net loss widens as capex doubles

DUBAI, June 3 (Reuters) – Vodafone Qatar reported
a wider fourth-quarter loss on Wednesday, despite expanding its
customer base, as its capital expenditure doubled.

The telecoms operator, an affiliate of Britain’s Vodafone
Group, made a net loss of 66 million riyals ($18.1
million) in the three months to March 31, according to Reuters
calculations based on company statements.