Saudi Arabia has reimposed a five per cent customs duty on steel rebars and cement imports following an oversupply in the domestic market. However, the duties will only be levied on rebars and cement imported from non-GCC countries. The decision came into effect January 1st.
Aamal Company (Aamal), a GCC-diversified conglomerate, announced that its subsidiary Aamal Cement Industries has officially commenced operations at its newly opened cement block manufacturing plant in Messaid, Qatar.
INFRASTRUCTURE SPENDING BY Gulf countries is expected to reach US$205 billion by 2013, according to recent estimates by Standard Chartered Bank. Although funding has emerged as a big challenge in the context of the global credit crisis, economists expect governments to support most infrastructure projects, and bond issues will be a major source of funding for many of these projects.
GCC countries are expected to earn US$4.7 trillion in oil exports by 2020 going by the Opec targeted floor price of US$50 per barrel, a recent report by Ernst & Young says.'This will be 2.5 times their [GCC countries'] oil earnings over the last 14 years.
Construction and Interiors will be featured in separate linked areas at the Bahrain Exhibition Centre in the first week of May ? an ideal opportunity to see specifically what?s on offer in four-plus countries of the Northern Gulf