Posts Tagged ‘pharmaceuticals’
DHAKA – Beximco, the largest private sector industrial conglomerate in Bangladesh, said it has set up a joint venture with a Saudi firm to invest nearly $1 billion for upgradation of Bangladeshs sole oil refinery.
“Beximco and Marasel Company of Saudi Arabia will jointly submit interest for funding an upgradation project of the Eastern Refinery Limited,” a statement from Beximco said.
JEDDAH – The Middle Eastern region holds great potential for drugmakers in terms of sales, especially in the generic drug sector, but local manufacturing needs greater investment in order to meet demand and stay competitive with regional rivals, especially in terms of price, Business Monitor International said in a new report.
One of the UAEs oldest drugmakers, Julphar, distributes just 10 percent of its output within the Emirates, focusing the rest on exports, says BMI, which adds that, since the UAE is likely to have limited domestic demand in the medium and long term, this strategy is particularly wise.
BRUSSELS – European Union countries are in a deepening dispute over an Italian proposal to temporarily drop import tariffs on dozens of raw industrial goods, a move supposed to help EU manufacturers weather the economic crisis.
The Italian proposal was put to the European Commission, the EUs executive, several months ago, prompting the Commission to ask other EU member states for their input.
BAGHDAD – Improved security is allowing Iraq to rebuild its shattered industry but up to $7 billion is needed to help the sector recover from years of war and sanctions, the industry minister told AFP.
“At the present estimate, I would think it will require between $5 and $7 billion (3.9 to 5.5 billion euros) of investment” to “re-invent the industrial sector in Iraq in a modern way,” Fawzi Hariri said in an interview.
JEDDAH – Kuwaiti pharmaceutical market will rise at a compound annual growth rate (CAGR) of 5.97 percent in local currency terms, which will mean the market value will have topped KWD140 million ($520 million), Kuwait Pharmaceuticals and Healthcare Report Q3 2010 released by companiesandmarkets.com on Monday said.
In 10-year forecast period, the CAGR is likely to fall to 5.48 percent.
JEDDAH – Investor perceptions of Iraq are slowly improving, despite the countrys many problems, the Economist Intelligence Unit said in a new survey of senior businesspeople.
The survey also showed that the security situation remains the major deterrent to business. Sixty four percent said it is still too dangerous to do business in Iraq at the present time. But more than half of those surveyed said their view of Iraq has become more positive over the past two years1.
Moreover, most respondents expect the security situation for foreign executives and employees to improve over the next two years, with 46 percent saying it would improve somewhat and 9 percent saying it would improve significantly. Just 10 percent expected it to worsen.
JEDDAH – Kuwait is now ranked fifth, losing one step, of the 19 markets in the Middle East and Africa (MEA) region. It has been overtaken by Bahrain, despite a slight improvement in its composite score, “Kuwait Pharmaceuticals And Healthcare Report Q3 2010″ released by Companies and Markets on Saturday said.
Nevertheless, Kuwait is considered a low-risk market, reflective of a stable regulatory, economic and political environment, as well as its position within the Gulf Cooperation Council (GCC).
JEDDAH – The GCC Investor Sentiment Index slipped by 7.7 points in April, although remained very much in positive territory at 113.1, SHUAA Capital said on Monday in its GCC Investor Sentiment Report.
“This comes at a time when global markets and economies face numerous challenges including the Greek sovereign debt crisis, allegations of high level US investment bank fraud, an election in the UK and the ramifications of the Icelandic volcano eruption,” it said. The decline also came from the years highest Index level in March of 120.8 after Dubai World and Nakheel presented restructuring proposals to creditors which were broadly welcomed by the market, the report noted.
The dip in the GCC Index was largely driven by Saudi Arabia and Oman, as their indices dropped by 7.9 and 4.6 points to 128.4 and 112.1 points respectively. Again, both indices did come from a relatively high level.
Dr. Abdullah Al-Rabeah, Health Minister, formally cuts a ribbon to inaugurate Saudi Medicare 2010 at the Riyadh International Exhibition Center, Monday. – Courtesy photo
Saudi Medicare 2010 inaugurated RIYADH – Medical events that showcase the latest medical technology, advanced devices and health care services under one roof help in improving the health sector in the Kingdom, Dr Abdullah Al-Rabeah, Minister of Health, said here Monday.
The minister was speaking to reporters after inaugurating Saudi Medicare 2010 at the Riyadh International Exhibition Center off King Abdullah Street.
Saudi Arabias health care sector has seen a dramatic change in recent years. With the introduction of compulsory health insurance for expatriates working in the private sector, the business landscape has shifted for pharmaceutical companies, insurers and health care providers, all of whom are still looking for long-term balance in the market.
The Kingdom has the largest health care sector in the Middle East, and the government plans to increase medical spending even more this year. The 2010 national budget set aside SR61.2 billion ($16.3 billion) for health and social affairs, accounting for 11.3 percent of total spending. The figure represents a 51 percent increase over the 2009 budget, which stood at SR40.43 billion ($10.7 billion) for health and social affairs, 8.5 percent of total spending.