MENA-1 MONDAY MORNING ROUND-UP

UAE
DP Worlds Vietnam unit wins key certification Dubai hotels post largest jump in occupancy in the region

Kuwait
Kuwait boosted oil supply in August to prevent a sharp oil price increase Noor signs debt restructuring agreement with Gulf Bank Projects worth KWD7.6 billion awarded this year

Qatar
Qatar bids to host the 2017 World Athletics Championships

Bahrain
Bahrains economy grows 0.8% Y-o-Y in 2Q2011

Agenda
Qatar Wed 21 September >> Salam International AGM

UAE News
DP Worlds Vietnam unit wins key certification DP World (DPW.DI) said that its Saigon Premier Container Terminal (SPCT) successfully earned the ISO 28000:2007 security management system certification. This achievement has come one week after DP World Callao in Peru qualified for ISO 28000 certification. (Trade Arabia) DP World: USD11.00, Rating: Neutral, FV: USD15.00, MCap: USD9,130 million, DPW DU / DPW.DI Dubai hotels post largest jump in occupancy in the region Hotel occupancy in Dubai witnessed an increase of 10.5 percentage points in July 2011 to 80.8%, up from 70.3% in July 2010, the largest in the region, according to Ernst & Young Middle East Hotel Benchmark Survey. Abu Dhabi hotel occupancy rose to 71% in July 2011 from 69% in July 2010. (Zawya Dow Jones)

Kuwait News
Kuwait boosted oil supply in August to prevent a sharp oil price increase Kuwaits Oil Minister Mohammad Al-Busairi said that Kuwait and Saudi Arabia boosted their oil production in August to prevent prices from rising sharply. He added that Kuwaits production in August did not fall below 2.8 million barrels per day (bpd), substantially above its OPEC quota of 2.2 million bpd. He put the states output capacity at 3.05 million bpd. (Kuwait Times) Noor signs debt restructuring agreement with Gulf Bank Noor Financial Investment Company (NOOR.KW) said that it has signed a debt rescheduling agreement with Gulf Bank (GBKK.KW) to reschedule loans amounting to KWD62.5 million over six years. (Bloomberg) Projects worth KWD7.6 billion awarded this year

According to press reports, Kuwaits Central Tenders Committee (CTC) has awarded projects worth KWD7.6 billion so far this year. The awards include projects worth about KWD1.0 billion that are still stalled due to political disputes. (Al Watan)

Qatar News
Qatar bids to host the 2017 World Athletics Championships Doha and London are the two bidding cities for the 2017 World Athletics Championships, with Barcelona failing to submit an official bid, International Association of Athletics Federations (IAAF) President, Lamine Diack, was quoted as saying. The 2017 World Athletics Championships could be moved out of its normal July-August window to accommodate a bid by Qatar, the IAAF aid. (The Gulf Times)

Bahrain News
Bahrains economy grows 0.8% Y-o-Y in 2Q2011 Bahrains real GDP grew 0.8% Y-o-Y in 2Q2011, its slowest pace in annualised terms since 2008, down from 1.8% Y-o-Y growth in 1Q2011, according to recent data published the Central Informatics Organization. Real GDP grew 1.0% Q-o-Q in 2Q2011 after contracting 1.4% Q-o-Q in 1Q2011. Given the GDP data for 1H2011, official growth data are likely to point to weak positive growth for 2011. We, however, continue to see the real non-oil economy contracting in 2011 in the aftermath of the political unrest. We expect the real GDP to contract by 0.8% in 2011, led by a 1.5% fall in real non-oil activity. (Reuters, Monica Malik)
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