Construction

Saudi imposes duty on steel

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.

p>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 Cement begins Qatar operations

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.

p>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.

Gulf project spending to soar

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.

p>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.

Used machines cut costs

THE POTENTIAL FOR used machinery in float glass industry is set to rise as the present economic conditions push companies planning expansion to cut costs, says Johan Coenen, General Manager of Glass Market Consultancy (GMC).

Growth will continue - IEA

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.

p>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.