UAE

Dubai plans USD benchmark-sized bond

Kuwait

Kuwaits Deputy Prime Minister Sheikh Ahmad resigns Protestors come out in hundreds demanding Prime Minister Sheikh Nassers resignation

Qatar

QEWC to buy stake in Amman East Power Plant Qatars LPG exports expected to rise by 29% Y-o-Y to 11 million tonnes in 2011 QatarGas delivers first LNG cargo to Thailand Indonesias Pertamina seeks to buy 1.5 million tonnes of LNG per year from Qatar

Bahrain

King appoints Khalifa bin Ahmed al-Dhahrani to head the National Dialogue

Agenda

Qatar Sun 12 June >> Vodafone Qatar AGM & EGM Mon 13 June >> Zad Holding EGM

UAE News

Dubai plans USD benchmark-sized bond Dubai said on 9 June 2011 that it plans to issue a USD-denominated benchmark-sized bond. A Dubai government spokeswoman confirmed that Dubais Department of Finance has appointed UBS, RBS and Emirates NBD (ENBD.DU) for a USD bond issue under its EMTN programme. Proceeds will be used for general budgetary purposes, the spokeswoman added. Meetings with fixed income investors will take place in London on Monday, 13 June 2011, and Tuesday, 14 June 2011, with the bond expected to launch and price thereafter, subject to market conditions, a banker familiar with the matter said. (Zawya Dow Jones) Emirates NBD: AED4.20, Rating: Buy, FV: AED4.50, MCap: USD6,360 million, ENBD UH / ENBD.DU

Kuwait News

Kuwaits Deputy Prime Minister Sheikh Ahmad resigns According to press reports, Kuwaits Deputy Prime Minister Sheikh Ahmad al-Fahad al-Sabah, a senior member of the ruling family, has resigned. He faced questioning by lawmakers in parliament. (Reuters) Protestors come out in hundreds demanding Prime Minister Sheikh Nassers resignation Hundreds of Kuwaiti protestors demonstrated against Prime Minister Sheikh Nasser Al-Sabah, demanding his resignation. The demonstration was lead by some lawmakers who urged the protestors to unite to save the country. Hundreds of police and members of the special force were present at the event to maintain peace. MPs urged protestors to be peaceful in their demands. (Kuwait Times)

Qatar News

QEWC to buy stake in Amman East Power Plant Qatar Electricity & Water Company (QEWC) [QEWC.QA] announced that it plans to acquire a stake in Amman East Power Plant to produce electricity in Jordan in partnership with foreign investors, including US companies,

Doha-based Al Arab Daily reported citing the companys General Manager, Fahed Al-Mohannadi, as saying. QEWC is now completing the remaining procedures and the deal is expected to be completed before the end of the month, Al-Mohannadi added. QEWC also plans to expand in Saudi Arabia, Bahrain, Kuwait, Oman and the United Arab Emirates. (Zawya Dow Jones) QEWC: QAR146.00, Rating: Buy, FV: QAR183.20, MCap: USD4,011 million, QEWC QD / QEWC.QA Qatars LPG exports expected to rise by 29% Y-o-Y to 11 million tonnes in 2011 Qatar is expected to see its annual liquefied petroleum gas (LPG) exports rise to 11 million tonnes in 2011 from 8.5 million tonnes in 2010, Qatar News Agency quoted the Chief Executive Officer (CEO) of state-owned Qatar International Petroleum Marketing Company, Saad Al Kuwari, as saying. Qatar is to become the largest source of condensates in the Middle East in 2011, where exports will rise to 400,000 barrels a day from 360,000 barrels a day in 2010, Al Kuwari added. (Zawya Dow Jones) QatarGas delivers first LNG cargo to Thailand QatarGas announced that it has delivered its first shipment of liquefied natural gas (LNG) to Thailand, with a cargo of 131,000 cubic metres, Bloomberg reported. The cargo was delivered to the Map Ta Phut LNG Terminal by the conventional LNG carrier Golar Viking, which left Qatars Ras Laffan port on 17 May 2011. The fuel was sent as part of an agreement between QatarGas and Thailands state-controlled PTT PCL to deliver two commissioning cargoes to the new LNG receiving terminal. (Bloomberg) Indonesias Pertamina seeks to buy 1.5 million tonnes of LNG per year from Qatar Indonesias state-owned oil and gas company, Pertamina, announced that it is seeking to buy 1.5 million tonnes of liquefied natural gas (LNG) annually from Qatar to feed a floating LNG receiving terminal it is currently building in the Banten Province, a company official was quoted as saying. The company is seeking additional LNG for the receiving terminal, which will have storage capacity of 3 million tonnes. Pertamina has already secured 1.5 million tonnes in supply from a local producer. The Indonesian company will send next week a team to Qatar, Pertaminas Chief Executive Officer (CEO), Karen Agustiawan, was quoted as saying. (Zawya Dow Jones)

Bahrain News

King appoints Khalifa bin Ahmed al-Dhahrani to head the National Dialogue Bahrains King Hamad bin Isa Al Khalifa appointed the Chairman of the Representative Council, Khalifa bin Ahmed al-Dhahrani, to lead the countrys national dialogue efforts from 1 July 2011, Bahrain News Agency (BNA) reported, citing a royal order. (Bloomberg)

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