DOCSLIB.ORG

ECONOMIC NEWS Value Previous % GCC 01-Mar-2021 Closing Change Shares in Japan Jumped on Friday After the S&P 500 Surged to a Record Close Overnight on Wall Street

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
ECONOMIC NEWS Value Previous % GCC 01-Mar-2021 Closing Change Shares in Japan Jumped on Friday After the S&P 500 Surged to a Record Close Overnight on Wall Street ECONOMIC NEWS Value Previous % GCC 01-Mar-2021 Closing Change Shares in Japan jumped on Friday after the S&P 500 surged to a record close overnight on Wall Street. The Nikkei 225 surged 1.58% to close at 29,854 as shares of Japanese MSM 3,666.81 3,708.71 -1.13% conglomerate Softbank Group popped 4.22%. The Topix rose 0.71% to finish the trading day at 1,971.62. In South Korea, the Kospi closed 0.82% higher at 3,112.80. Mainland Dubai 2,557.67 2,550.23 0.29% Chinese stocks also on the day. The Shanghai composite was up 0.52% to 3,484.39 while Abu Dhabi 5,941.52 5,912.56 0.49% the Shenzhen component gained 1.02% to 14,122.61. Most other major Asia-Pacific markets like Australia, Hong Kong, India and Singapore were closed for Good Friday. Saudi Arabia 9,895.56 9,907.82 -0.12% Elsewhere, markets in the U.S. and UK were also closed for Good Friday. Overnight Bahrain 1,454.91 1,458.03 -0.21% stateside, the S&P 500 crossed the 4,000 thresholds for the first time and jumped 1.18% to a fresh record close of 4,019.87. The tech-heavy Nasdaq Composite also surged 1.76% to Qatar 10,457.30 10,401.50 0.54% end its trading day at 13,480.11 while the Dow Jones Industrial Average rose 171.66 points Kuwait 5,812.44 5,775.92 0.63% to close at 33,153.21. (CNBC) Egypt 10,564.88 10,568.37 -0.03% Oil prices settled up more than $2 Thursday despite news that OPEC+ reached a deal to 3,427.12 3,437.50 -0.30% gradually ease production cuts from May. Brent crude settled up $2.12, or 3.4%, to $64.86 a barrel. U.S. oil settled up $2.29, or 3.9%, at $61.45 a barrel. OPEC+, which comprises Value the Organization of the Petroleum Exporting Countries, Russia and other allied producers, Asia % Change agreed to ease production curbs by 350,000 barrels per day (bpd) in May, another 350,000 01-Mar-2021 bpd in June and further 400,000 bpd or so in July. (Zawya) NIKKEI 29,854.00 1.58% Oman Hang Seng 28,938.74 1.97% Standard and Poor's global rating affirmed the Sultanate's credit rating at "B + / B" with a Shanghai 3,484.39 0.52% stable outlook, the Ministry of Finance announced. According to the ministry's statement, Value USA % Change the agency expects a decrease in the financial and economic pressures on the Sultanate in 01-Mar-2021 the current year. "The agency believes that the fiscal measures taken by the government will contribute to reducing the deficit," the ministry said, adding, "The agency indicated Dow Jones Ind. 33,153.21 0.52% the importance of the government continuing with the economic and financial measures it S&P 500 Index 4,019.87 1.18% has taken, which would contribute to strengthening the financial position and improving the country's credit rating." (Times of Oman) NASDAQ 13,480.11 1.76% Value EUROPE % Change Tariff revisions that recently came into effect for the first time for residential consumers in 01-Mar-2021 the Sultanate are beginning to yield results chiefly in terms of driving energy efficiency in FTSE 100 6,737.30 0.35% the electricity sector, a top official of the Authority for Public Services Regulation the sector regulator revealed here on Wednesday. Shaikh Dr Mansoor bin Talib al Hinai, DAX 15,107.17 0.66% Chairman, said the upward revisions part of a “price signalling” initiative by Oman’s CAC 40 6,102.96 0.59% authorities to reduce the hefty financial burden that the government has long shouldered in subsidizing the electricity sector is pushing consumers to curb their consumption and Value thereby contribute to efficient energy use. While subsidy-free Cost Reflective Tariffs came Currencies % Change 01-Mar-2021 into effect for major customers nearly four years ago, electricity consumption by residential customers became subject to a tariff increase for the first time in several decades starting USD-JPY 110.6900 -0.06% from January 1, 2021. It has already come into effect for non-Omanis, but for citizens, the subsidy will be gradually phased out over a five-year timeframe. (Oman Observer) USD-OMR 0.3850 -0.06% EUR-USD 1.1759 -0.15% OQ, the Sultanate’s integrated global energy group, announced on Thursday that it had inked a key agreement effectively formalizing the sale of its minority stake in Bharat Oman GBP-USD 1.3832 -0.01% Refineries Limited, a major refinery located at Bina in the central Indian state of Madhya Pradesh. The buyer is Bharat Petroleum Corporation Limited, the second largest oil marketing company in India. “To help drive our businesses towards creating better value Value Commodities % Change from our local and international investment portfolio, we signed a Share Purchase 01-Mar-2021 Agreement #SPA with Bharat Petroleum Corporation Limited BPCLimited to sell our Oil 61.45 3.87% 36.62 per cent share in Bharat Oman Refineries Limited’OQ stated in a tweet on Thursday. In a regulatory filing in February, BPCL had revealed the deal was worth Rs 2,399.26 crore Gold 1,728.40 0.75% (approx. RO 125 million). (Oman Observer) Silver 24.95 1.70% As per the contract signed with the Global Alliance for Vaccines and Immunisation, the Sultanate received the first batch of Covid-19 vaccines at Muscat International Airport on Note: All the above data updated at 8:00 AM, Saturday. “The first batch of Oxford-AstraZeneca vaccine arrived in the Sultanate on Muscat time (5:00am GMT) Saturday at Muscat International Airport,” the Ministry of Health said. It added that the total number of people AstraZeneca in the Sultanate as of Thursday was 139,522 people. MOH said the Sultanate has contracted with the International Federation of vaccines to obtain one million doses, which target 10 percent of the population. (Oman Observer) This report has been prepared on the basis of publicly available information, internally developed data and other sources believed to be reliable. While all care has been taken to ensure that the facts stated herein are accurate and the estimates, opinions and expectations contained herein are fair and reasonable, neither United Securities LLC, nor any of its employees shall be, in any way, responsible for the contents. This shall not be construed as an offer to buy or sell the investments referred to in this report. United Securities LLC, P.O. Box 2566, Postal Code – 112, Ruwi, Sultanate of Oman Tel: +968 24763300, Fax: +968 24788671, Website: http://www.usoman.com, Email: [email protected] Total crude production dipped 1.9 per cent to 56.301 million barrels for the January-February 2021 period versus output of 57.415 million barrels during the same period last year. According to figures published by the National Centre for Statistics and Information (NCSI), oil production including condensate declined to 954k barrels per day bpd this year, down from 956.9k bpd for the same period in 2020. The average price per barrel slumped 26.9 per cent to $46.99 this year, down from $64.2 last year. Black oil production fell 11.7 per cent to 43.070 million barrels this year, down from 48.769 million last year. Condensate production on the other hand soared 53 per cent to 13.230 million barrels this year, up from 8,646,600 barrels for the same period of last year. China was the biggest market for Omani crude exports, lifting a total of 38.374 million barrels this year, followed by India (5.690 million barrels), among other countries (1.59 million barrels). Natural gas production, including Dolphin imports, climbed 4.7 per cent to 7.772 billion cubic metres (bcm) for the first two months of this year, up from 7.420 bcm last year. (Oman Observer) Income earned from salaries by non-resident Indians in the Gulf countries will not be taxed in India. Union Finance Minister Nirmala Sitharaman in a clarification said that an amendment in the Finance Act, 2021, has merely incorporated general definition of the term “liable to tax” in the Income Tax Act to provide clarity. A tweet from the minister’s office said on Thursday, “No going back on words. The Finance Act, 2021 hasn’t brought in any additional or new tax on hardworking Indian workers in Saudi Arabia, UAE, Oman and Qatar.” The amendment in the Finance Act has not altered the taxability of salary income earned by non-resident Indian citizens in Gulf countries. (Oman Observer) UAE Dubai has unveiled a strategic programme to increase the contribution of the creative economy to the emirate's GDP. The Dubai Creative Economy Strategy aims to make the emirate a global capital of the creative economy, by raising the number of creative firms from 8,000 to 15,000 in Dubai and creative professionals from 70,000 to 150,000 in five years. Sheikh Mohammed bin Rashid Al Maktoum, tweeted: “Under the new program, we aim to increase the contribution of the creative economy to our GDP from 2.6 percent to 5 percent and launch new creative zones in content, design and arts. Innovation is an integral part of our economy, lifestyle and future.” The new strategy is being implemented under the patronage of Sheikha Latifa bint Mohammed bin Rashid Al Maktoum and supervised by the Dubai Culture & Arts Authority in cooperation with a number of strategic partners, Dubai Media Office said.
Load more

Recommended publications
  • Middle East Oil Pricing Systems in Flux Introduction
    May 2021: ISSUE 128 MIDDLE EAST OIL PRICING SYSTEMS IN FLUX INTRODUCTION ........................................................................................................................................................................ 2 THE GULF/ASIA BENCHMARKS: SETTING THE SCENE...................................................................................................... 5 Adi Imsirovic THE SHIFT IN CRUDE AND PRODUCT FLOWS ..................................................................................................................... 8 Reid l'Anson and Kevin Wright THE DUBAI BENCHMARK: EVOLUTION AND RESILIENCE ............................................................................................... 12 Dave Ernsberger MIDDLE EAST AND ASIA OIL PRICING—BENCHMARKS AND TRADING OPPORTUNITIES......................................... 15 Paul Young THE PROSPECTS OF MURBAN AS A BENCHMARK .......................................................................................................... 18 Michael Wittner IFAD: A LURCHING START IN A SANDY ROAD .................................................................................................................. 22 Jorge Montepeque THE SECOND SPLIT: BASRAH MEDIUM AND THE CHALLENGE OF IRAQI CRUDE QUALITY...................................... 29 Ahmed Mehdi CHINA’S SHANGHAI INE CRUDE FUTURES: HAPPY ACCIDENT VERSUS OVERDESIGN ............................................. 33 Tom Reed FUJAIRAH’S RISE TO PROMINENCE ..................................................................................................................................
    [Show full text]
  • Download Brochure
    INDEX 1. NTRODUCTION 1.1. COMPANY PROFILE 1.2. GERMAN GULF SUMMARY 1.3. PROJECT MANAGEMENT METHODOLOGY 2. GERMAN GULF DOCUMENTS 2.1. COMMERCIAL LICENSE 2.2. MEMBERSHIP CERTIFICATE 2.3. DEPARTMENT OF ECONOMIC DEVELOPMENT 2.2. CIVIL DEFENCE CERTIFICATE 3. GERMAN GULF CERTIFICATES 3.1. ISO 9001. 2008 – QUALITY MANAGEMENT SYSTEM 3.2. ISO 14001. 2004 – ENVIRONMENT MANAGEMENT SYSTEM 3.3. ISO 18001. 2007 – OCCUPATION HEALTH & SAFETY 4. QUALITY ASSURANCE & QUALITY CONTROL POLICY 5. HSE POLICY 6. INTEGRATED MANAGEMENT SYSTEM MANUAL 3 GERMAN GULF ENGINEERING CONSULTANTS German Gulf Engineering Consultants is built strong on these solid fundamentals. The passions for performance and commitment to excellence have kept us head and shoulders above the competition, in a short span of years. Here you will find a breed of technical and managerial professionals who are inspired by success and stimulated by the challenges of architectural, civil engineering and other specialized studies demands. German Gulf Engineering Consultants is where extensive experience and multidimensional expertise come together to create outstanding results, time and again. Our activities cover Planning, Design & Development and Project Management, and extend across Corporate/Commercial, Residential, Infrastructure and Specialized construction projects. We translate global concepts into concrete forms that are in consonance with local culture, traditional values and a sustainable environment. Our commitment is to deliver quality with cost effectiveness, to support progressive development and to exceed client expectations with performing excellence. Our Vision Harmonize technical expertise and quality service to become UAE’s leading Engineering Consultancy Company and to establish strong, long-term relationships with our customers, employees and associates, which would translate our company into steady, successful growth into the future.
    [Show full text]
  • Railways of the MENA Region, Tools of National and Foreign Policy
    DHEEI – Mediterranean Studies Railways of the MENA Region, tools of national and foreign policy Master’s Thesis submitted by GALLOY Théophile Academic year: 2018-2019 Thesis Supervisor: Dr. Silvia Colombo Acknowledgements I wish to express my appreciation to my family, my co-students and CIFE for their valuable support throughout this year. I am also very grateful for the advice given by my fantastic supervisor Dr. Silvia Colombo, who has kindly dedicated some time to read, correct and advise me on my work, whilst allowing me to remain creative in my approach and research. I would also like to extend my thanks to my previous manager, Mr. Stephane Downes, and my previous employer, Mr. Stephane Rambaud-Measson, for opening me the doors of the railway industry and for passing on to me their knowledge and passion for this fascinating sector. I would also like to thank Dr. Ayadi Soufiane, the surgeon who successfully removed my infected appendix in Tunis, which allowed me to continue my work unimpeded. 2 Acknowledgements_____________________________________________________2 Table of Contents_______________________________________________________3 Introduction___________________________________________________________4 Part I: Understanding the political benefits of railway infrastructures______________6 1) The economic and social benefits of rail_____________________________6 2) Rail as a nation building infrastructure, a tool of power________________12 3) Rail as a region building infrastructure, a tool of integration____________19 Part II:
    [Show full text]
  • Investigation Future Planning of Railway Networks in the Arabs Gulf Countries
    M. E. M. Najar & A. Khalfan Al Rahbi, Int. J. Transp. Dev. Integr., Vol. 1, No. 4 (2017) 654–665 INVESTIGATION FUTURE PLANNING OF RAILWAY NETWORKS IN THE ARABS GULF COUNTRIES MOHAMMAD EMAD MOTIEYAN NAJAR & ALIA KHALFAN AL RAHBI Department of Civil Engineering, Middle East College, Muscat, Oman ABSTRACT Trans-border railroad in the Arabian Peninsula dates back to the early 20th century in Saudi Arabia. Over the recent decades due to increasing population and developing industrial zones, the demands are growing up over time. The Gulf Cooperation Council (GCC) is now embarking on one of the largest modern cross-border rail networks in the world. This is an ambitious step regarding the planning and establishment of the rail network connecting all the six GCC countries. This railway network will go through at least one city in each country to link the cities of Kuwait in Kuwait, Dammam in Saudi Arabia, Manama in Bahrain, Doha in Qatar, the cities of Abu Dhabi and Al Ain in the United Arab Emirates and Sohar and then Muscat in Oman in terms of cargo and passengers. The area of investigation covers different aspects of the shared Arabian countries rail routes called ‘GCC line’ and their national rail network. The aim of this article is to study the existing future plans and policies of the GCC countries shared line and domestic railway network. This article studies the national urban (light rail transportation (LRT), metro (subways) and intercity rail transportation to appraise the potential of passenger movement and commodity transportation at present and in the future.
    [Show full text]
  • Etihad Rail: National Railway Network, United Arab Emirates
    CASE STUDY Etihad Rail: National Railway Network, United Arab Emirates At a Glance This case study details the ongoing Etihad Rail National Railway Network Project in the United Arab Emirates (U.A.E.) requiring Intelligent Fire Protection. Mircom’s FleX-Net and Open Graphic Navigator (OpenGN) have been installed throughout phase one and will continue to be installed in upcoming phases as the construction progresses from Abu Dhabi through to Kuwait, Saudi Arabia, the rest of the U.A.E. and Oman. Mircom is very excited to be playing a role in the expansion of trade and transportation networks throughout the U.A.E. Safer • Smarter • More Livable Buildings Project Background The Etihad Rail National Railway Network is being phase one of the Etihad Railway is operational. built in phases to link the principal centres of Services between Habshan and Ruwais have been population and industry of the U.A.E. It will also form operational since 2013, with services from Shah a vital part of the planned Gulf Cooperation Council to Habshan to follow shortly. In the 14 buildings (GCC) Railway Network linking the six countries already constructed and operational, FleX-Net and of the GCC: The Kingdom of Bahrain, The State of OpenGN are working smoothly. Kuwait, Oman, Qatar, The Kingdom of Saudi Arabia and the U.A.E. The 1,200 km line, planned to be Challenge completed in 2018, will link major industrial zones, Since this was a new construction, the few cities and ports in the U.A.E., eventually connecting challenges that arose were addressed immediately.
    [Show full text]
  • Discovering How to Develop Robust Foundations Through Innovative and Sustainable Techniques
    Book and pay before 3 September 2015 to save up to US$600! Foundations of the future: Discovering how to develop robust foundations through innovative and sustainable techniques 2-Day Conference: 16-17 November 2015 Pre and Post-Conference Workshops:15 & 18 November 2015 Dusit Thani, Dubai, UAE Hear from key speakers including: Paul Groves Rashid Al Mulla Reji John Dr. Ali A. Mahdi Salah Abdulatif Al Qaiser Hayat Head of Tunnels & Stakeholder Regional Director Associate Director, Dilim Geotechnical Design Ground Engineering, Manager NSCC international Bridges and Tunnels Rail Infrastructure Manager Middle East and India Etihad Rail WSP|Parsons Maintenance Manager CH2M Atkins Brinckerhoff RTA David Bulmer, Geotechnical Manager, Etihad Rail Noha Abdou, Head of Structural Division, APG Don’t miss your opportunity to: Bart Leclerq, Senior Technical Director, Building Structures, WSP|Parsons Brinckerhoff Listen to industry experts from ATKINS, AECOM, ETIHAD Chris Magadia, Associate Principal Head of Structural RAIL, HYDER, CH2M, MOTT MACDONALD, WSP and many Department, Ted Jacob Engineering Group more allowing you to gain exclusive ideas about underground Prof. Hesham El Shazly, Geotechnical Manager, infrastructure strategies for upcoming mega projects Municipality of Abu Dhabi City Gain insights into the latest projects and case studies on Colin Crane, Managing Director, St. Johns Piling & tried and tested methods to better understand strategies Foundation that work Imraan Motara, Head of Ground Engineering, Discover the most innovative
    [Show full text]
  • Rising to Iran's Challenge
    RISING TO IRAN’S CHALLENGE GCC Military Capability and U.S. Security Cooperation Michael Knights Policy Focus 127 | June 2013 THE WASHINGTON INSTITUTE FOR NEAR EAST POLICY RISING TO IRAN’S CHALLENGE GCC Military Capability and U.S. Security Cooperation Michael Knights Policy Focus 127 | June 2013 All rights reserved. Printed in the United States of America. No part of this publication may be reproduced or transmitted in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage and retrieval system, without permission in writing from the publisher. © 2013 by The Washington Institute for Near East Policy Published in 2013 in the United States of America by The Washington Institute for Near East Policy, 1828 L Street NW, Suite 1050, Washington, DC 20036. Cover photo: UAE, Italian, Bahraini, and U.S. armed forces sight in on a mock target while performing a Visit, Board, Search, and Seizure demonstration at the Port of Zayed area in Abu Dhabi, UAE, as part of Exercise Leading Edge 13, January 2013. Leading Edge 13 military-to-military engagements are intended to sharpen capabilities among nations in an effort to foster relationships and build regional security. (USMC photo/MSgt. Salvatore Cardella) CONTENTS The Author v Acknowledgments vii Executive Summary ix 1 | Introduction 1 2 | SWOT Analysis of the Gulf Militaries 7 3 | Key Missions for GCC Allies 23 4 | Implications for U.S. Security Cooperation 37 THE AUTHOR MICHAEL KNIGHTS is a Lafer fellow at the Washington Institute for Near East Policy, specializing in the military and security affairs of Iraq, Iran, Libya, Yemen, and the Gulf states.
    [Show full text]
  • Boomtown Fujairah
    TRADE Boomtown Fujairah Once known for its pristine beaches and resorts, Fujairah is fast becoming the region’s most lucrative new trade hub, attracting millions in investment. BY HEBA HASHEM IRAN FUJAIRAH UNITED ARAB give Abu Dhabi access to the Indian A maritime fortune EMIRATES Ocean at a tense time when the EU As the largest multipurpose port on has embargoed Iranian oil, forcing the country’s eastern seaboard, the Asian countries to turn to GCC oil as Port of Fujairah occupies an enviable an immediate alternative. geographic location and can accom- Construction on the $3.3 billion modate up to 100 vessels at any time. ith the slowdown pipeline began in 2008 and is ex- Taking advantage of this exceptional in Dubai’s con- pected to finish by mid-2012. When maritime station, Gulf Petrochem struction and complete, the pipeline will be able to recently invested $136.4 million to project cancel- export 1.5m barrels per day and will develop a 412,000-cubic metre stor- lations in Abu enable Abu Dhabi Company for On- age terminal by September, in which Dhabi, the tiny emirates of Fujairah shore Oil Operations (ADCO) to ex- Fujairah Petroleum Company will ac- has seized the opportunity to trans- port half of its total production within quire a 12% stake. form itself into one of the world’s top the first year. Although the Sharjah-based com- tanker refueling and oil storage hubs. Indeed, this will be a new era in crude pany operates globally with offices Strategic location, lower risk, and transportation, not only for Abu Dha- in Dubai, India, Singapore and Eu- relatively less congestion are some of bi but also for Fujairah, where a strate- rope, its latest investment proves the the factors that the emirate has man- gic oil reservoir and refinery are being significance of Fujairah’s port to the aged to leverage in order become the world’s second largest bunker- ing port after Singapore.
    [Show full text]
  • Drone Attacks on Saudi Oil Infrastructure Are a Calibrated Message from Iran
    Drone Attacks on Saudi Oil Infrastructure are a Calibrated Message from Iran © 2019 IAI by Micha’el Tanchum The 14 May 2019 drone attack on two Saudi Ministry of Energy,1 resulting oil pumping stations in Saudi Arabia, in a temporary and precautionary ISSN 2532-6570 allegedly carried out by Iranian- shutdown of the pipeline for evaluation. supported Houthi forces in Yemen, On the day of the drone attacks, a was a sophisticated operation. Coming television station operated by Houthi at a time of increased tensions in the forces in Yemen reportedly claimed the region, and notwithstanding Iranian rebels had conducted drone attacks on denials, the attack represents a carefully Saudi installations, without specifying calibrated response to the tightening the exact time or targets of the attacks.2 of oil sanctions against Iran and the US Trump administration’s policy of In prior attacks on Saudi Arabia, Houthi “maximum pressure” on Tehran. rebels have used Qasef-1 drones, copies of Iran’s Ababil-2 drone that The attacks were preceded three days are allegedly produced in Iran despite earlier by acts of sabotage against ships Houthi claims of local production.3 in the United Arab Emirates (UAE) oil The Qasef-1 was used to conduct the port of Fujairah. Taken together, these attacks against oil export infrastructure 1 “Saudi Energy Minister Says Two Pump of the leading Gulf state members of Stations on the East-West Pipeline Were the anti-Iran bloc are a signal that the Attacked, Confirming Sabotage Targets Global collective ability of Saudi Arabia, the Oil Supply”, in Saudi Press Agency, 14 May 2019, https://www.spa.gov.sa/1923830.
    [Show full text]
  • UAE Import Guide;
    1 1. Rules of Origin .................................................................................................................................. 6 1.1 Rules of Origin between UAE & KSA ........................................................................................................ 7 1.1.1 Preferential Rules of Origin – UAE .......................................................................................................... 7 2. Trade Barriers ................................................................................................................................... 8 2.1 Trade Barriers in UAE .......................................................................................................................... 8 2.1.1 Tariff Barriers ................................................................................................................................... 8 2.1.1.1 Basic Customs Duty ........................................................................................................................... 8 2.1.1.2 Countervailing Duty, Anti-Dumping Duty, and Safeguard Duty ........................................................................ 8 2.1.2 Non-tariff Barriers ............................................................................................................................. 9 2.1.2.1 Import Prohibitions ............................................................................................................................ 9 2.1.2.2 Import Licensing and Restrictions ..........................................................................................................
    [Show full text]
  • Dubai Metro: Building the World's Longest Driverless Metro
    Civil Engineering Proceedings of the Institution of Civil Engineers Volume 165 Issue CE3 Civil Engineering 165 August 2012 Issue CE3 Pages 114–122 http://dx.doi.org/10.1680/cien.11.00071 Dubai Metro: building the world’s Paper 1100071 longest driverless metro Received 22/12/2011 Accepted 05/04/2012 Botelle, McSheffrey, Zouzoulas and Burchell Keywords: railway systems/tunnels & tunnelling/viaducts proceedings ICE Publishing: All rights reserved Dubai Metro: building the world’s longest driverless metro 1 Matthew Botelle MSc, RPP MAPM, CMILT 3 Petros Zouzoulas BA, LEED AP, AIA Parsons programme director for Dubai Metro, Dubai, United Arab Emirates Parsons senior architect for Dubai Metro, Dubai, United Arab Emirates 2 Patrick McSheffrey BEng, CEng, FICE 4 Anthony Burchell BSc, CEng, FICE Formerly Parsons construction manager for Dubai Metro, now Parsons senior Formerly Systra project director for Dubai Metro, now Parsons construction manager for Etihad Rail, Abu Dhabi, United Arab Emirates Brinckerhoff project director for Doha Metro, Doha, Qatar 1 2 3 4 The 23 km Green line of the Dubai Metro opened in September 2011, exactly 2 years after the 52 km Red line, making it the world’s longest driverless metro. In a city dominated by the car but projecting heavy population growth, the metro has been designed to provide unparalleled levels of customer comfort and finishing, together with the frequency, punctuality and coverage to meet the emirate’s future strategic needs and ambitions. This paper provides an overview of the £4·8 billion project, with particular emphasis on the heavy civil engineering solutions delivered within a highly stylised and exacting architectural context, from an outline plan in 2002 to a fully operational reality in 2011.
    [Show full text]
  • Doing Business in (Insert Country Name Here)
    Doing Business in United Arab Emirates 2008 Country Commercial Guide for U.S. Companies INTERNATIONAL COPYRIGHT, U.S. & FOREIGN COMMERCIAL SERVICE AND U.S. DEPARTMENT OF STATE, 2008. ALL RIGHTS RESERVED OUTSIDE OF THE UNITED STATES. • Chapter 1: Doing Business In United Arab Emirates • Chapter 2: Political and Economic Environment • Chapter 3: Selling U.S. Products and Services • Chapter 4: Leading Sectors for U.S. Export and Investment • Chapter 5: Trade Regulations and Standards • Chapter 6: Investment Climate • Chapter 7: Trade and Project Financing • Chapter 8: Business Travel • Chapter 9: Contacts, Market Research and Trade Events • Chapter 10: Guide to Our Services 6/1/2008 Return to table of contents Chapter 1: Doing Business In United Arab Emirates • Market Overview • Market Challenges • Market Opportunities • Market Entry Strategy Market Overview Return to top The United States and the United Arab Emirates have a strong bilateral relationship, based on a joint commitment to the security and stability of the Gulf region. Our two governments also share many similar concerns on a host of other international issues. Exports in both directions have increased almost every year since the UAE, a federation of seven emirates on the Arabian Gulf, was founded in 1971. The prosperity of UAE citizens is based in great part on the country’s vast oil and gas reserves, most of which lie in the largest emirate and seat of the capital, Abu Dhabi. The UAE has nearly ten percent of the world’s proven oil reserves and five percent of proven gas reserves. Other emirates include Dubai, Sharjah, Ras al Khaimah, Fujairah, Ajman, and Umm al Quwain.
    [Show full text]