Dubai: The Pakistan stock market index KSE 100 went lower Wednesday, ending 0.86 per cent down at 9553.81 points. Investors were still wary of the impact of the devastating floods and sold stocks at a broader range. All sectors were down, with oil and gas companies, chemicals and construction hit the most. Heavyweights such as Byco Petroleum, Lotte Pakistan and DGK Cement all left the session in the red. Lotte Pakistan announced yesterday that it has postponed the release of its second quarter financial results by a day. Among the few gainers, Cherat Paper rose the most, with 1.82 per cent up to 42.97 rupees. The biggest losers were Siemens Pakistan, which lost 15.07 per cent to 1,100 rupees, and Shell Pakistan, falling 9.27 per cent to 196.30 rupees.

Rosstat data is reporting that for the first time since the beginning of the economic crisis, cement production in Russia recorded positive growth in the first six months of this year. During those months, Russian cement plants produced 21.4 million t of cement, which was 10.9% more than during the equivalent period of 2009 (19.35 million t). The industry has not yet returned to the scale of production reached before the recession. Forecasts suggest by the end of 2010 overall cement production in the country will reach 49 million t, a 10-15% y-o-y increase. Cement prices in Russia have also increased slightly. At present , in August, 1t of cement costs about RUB 3000-3500 (€76-89), with the lowest price of RUB 2500 (€63) being recorded in February-March 2010.

Facility to test green building materials to save energy consumption As part of Dubai Central Laboratory Department s keenness to achieve its strategic goals of becoming an international reference laboratory, its Engineering Materials Laboratory Section has established a specialised laboratory for testing green building materials and products. The move is in view of the importance of these materials in reducing energy consumption and conservation of environment. It is also aimed at facilitating the application of the requirements and specifications of green buildings, which is expected to be issued soon. Eng. Hawa Abdullah Bastaki, Director of Dubai Central Laboratory Department said a guide has been prepared, which includes an inventory of all green building materials and products, including the names and addresses of suppliers and manufacturers of these materials, in addition to another detailed guide that includes the names of laboratories that can test these materials. For the purpose of facilitating the provision of testing services for these manufacturers the green building materials laboratory has been designed on the advanced world-class standards. The latest equipment and the best techniques and specialised tools are being used for the testing operations according to the latest local and international methods and standards in order to ensure the preservation of accuracy and quality of tests and the activation of the monitoring role of the Dubai Central Laboratory. Bastaki said that the move is in the framework of the keenness of the Municipality for excellence and enhancing its services in all areas. "The Engineering Materials Laboratory has been conducting many physical and mechanical tests on building materials such as concrete, steel, tiles, cement, mortar products, thermal insulation products, humidity insulation products, polystyrene, fly ash, fiber glass bars, plastic pipes, rock wool and glass wool, etc. used in civil construction, buildings and construction of roads in accordance with international standards and specifications adopted in this area...

Cement sales in Saudi Arabia soared by nearly 17 per cent in the first half of 2010 to reflect a pick in construction activity as part of economic recovery triggered by massive public spending, official data showed Sunday. Production by the Gulf Kingdom’s 12 main cement factories also swelled by around 18 per cent to meet domestic demand and export surplus to nearby Gulf countries and other markets, the Saudi Ministry of Trade and Industry said in a report about the country’s cement industry. From about 18.9 million tonnes in the first half of 2009, total cement sales in the world’s dominant oil power climbed to nearly 22.1 million tones in the first half of 2010 as construction projects in the country gain momentum. The report showed actual production by the 12 cement plants surged to nearly 22.7 million tonnes in the first half of this year from 19.2 million tonnes in the first half of 2009, an increase of around 18 per cent. Production of clinker, the main component in the cement industry, fell by around four per cent to 18.8 million tonnes in the first half of 2010 from 19.6 million tonnes in the first half of 2009. This depressed clinker stocks with the cement companies by around 12 per cent to 7.9 million tonnes from 9.05 million tonnes. The report showed the surge in production boosted the Kingdom’s cement exports by nearly 37 per cent to 678,000 tonnes from 494,000 tonnes. The surge in exports was also caused by a decision by Saudi Arabia, the largest Arab economy, to lift a ban on cement exports early this year. The increase in cement sales in the first half of 2010 followed a surge of around 15 per cent in the sales through 2009 to reach around 37.8 million tonnes, which helped ease the tight supply situation that had persisted since 2006. According to National Commercial Bank (NCB), Saudi Arabia’s largest bank by assets, the combined net profits of the Kingdom’s eight listed cement companies decline by nearly 9.8 per cent to SR3.6 billion last year despite higher sales. The weighted average net-profit per tonne of cement sold, in both local and exports markets, also fell by 17.1 per cent to nearly SR114.52 per tonne. “Going forward, demand stemming from capital investment expenditure plans announced in Saudi Arabia’s budget for this year (SR260 billion) should reduce cement inventories and support prices,” NCB said in a recent study. Announcing its 2010 budget just before the end of the year, Saudi Arabia said it would maintain an expansionary fiscal policy to support economic growth following a sharp slowdown caused by the global fiscal distress. Besides all-time high public spending, the 2010 budget also includes record investment expenditure of SR260 billion, an increase of about 16 per cent over the last year’s budget, which was the largest historically, and about three times the level in 2005, the first year in the current eighth development plan. A government statement said the budget gives emphasis to projects that ensure sustainable and balanced development as well as job creation. Total spending in 2010 was assumed at SR540 billion and revenue at SR470 billion, creating a deficit of SR70 billion. Saudi Arabia, which controls over a fifth of the world’s extractable crude deposits, also plans to spend nearly $400 billion in the next five years on infrastructure and other development projects, according to official estimates. NCB said licences for new cement projects and expansions of existing units would boost total production to a record 54 million tonnes in 2010. “While cement exports absorb nearly 10 per cent of the total cement sales, the remaining 25 per cent is met by the transient demand created by the waves of construction projects, both public and private sectors,” it said. “Upon completion of these projects, a time we believe could be around 2015, excess capacity above the sustainable domestic demand and exports is widely feared amongst industry analysts. Thus, in the domestic market perspective, the capacity overhang looks as a real possibility that would tend to intensify competition among local cement producers and to push prices lower

Egypt s Industrial Authority closed a bid for two cement production licences on Thursday as the one offer it received failed to meet its requirements, the authority s head said. Egypt re-opened bidding for cement licences previously held by El Wadi Cement and North Sinai Cement after the firms had permits withdrawn late last year over start-up delays and financing shortfalls. The new bid deadline was last Thursday. "The authority has received one offer from Horus Cement (a subsidiary of investment bank Naeem Holdings), and it did not have a complete financial guarantee," Amr Assal said. The authority will meet on Monday to discuss the licenses, he said. Remco for Touristic Villages Construction, which had expressed interest in the bid, did not officially apply, Assal said. Assal had said the Industrial Authority wanted to attract investment in textiles, food processing, chemicals and other industries as part of Egypt s effort to double exports to EP200 billion (Dh129bn) by 2013. Egypt’s construction industry has grown although it stalled elsewhere in the region. Cement demand rose 25 per cent last year, driven largely by the housing needs of a growing population and a cash-fuelled economy

Riyadh: Sales by 12 Saudi cement firms rose 12.3 per cent during the second quarter, but the listed manufacturers are not doing as well as non-listed rivals, according to data released by Yamama Cement Monday. Saudi Cement Co posted the strongest sales growth among listed firms with a 27.1 per cent rise in the second quarter while Arabian Cement s sales grew 8 per cent, according to the data released by Yamama. Yamama s sales rose 2 per cent while Southern Province Cement achieved a 1.3 per cent rise in cement sales. Yamama Cement collects sales data from all Saudi cement firms and publishes it on a regular basis. Overall, cement sales by the 12 existing firms, including exports, stood at 11.42 million tonnes during the second quarter against 10.17 million tonnes a year earlier, the data showed. Domestic demand For the eight listed cement firms, the sales stood 8.96 million tonnes, an increase of 3.7 per cent over the same period in 2009. In a separate announcement, Yamama said its second-quarter net profit rose 16 per cent to 192 million riyals (Dh188.31 million) as stronger domestic demand boosted sales. Yanbu Cement has reported a 25 per cent drop in its second-quarter net profit for the same period due to competition and government measures to control exports. Yanbu s sales during the second quarter fell 5.9 per cent, according to the data from Yamama. Listed Saudi firms have until July 21 to announce their second-quarter earnings. Shares in Saudi Cement closed 0.9 per cent down, reducing by more than half earlier losses before the sales growth data was released.

I stay in Dubai Residential Oasis in Al Ghusais. Right behind my building is the Al Ghusais Industrial Area 2 and there are a couple of cement factories in this area. The amount of fine dust particles that rise from these factories is alarming. The industrial area is surrounded by many residential buildings. All the residents are at risk of asthma and other breathing disorders due to the dust. Moreover, the trucks and other vehicles in this area operate 24 hours a day. Even at night, between 12am and 5am, there are trucks continuously plying on the road right behind our building. Hence, our children get disturbed in their sleep. The elderly and people who are unwell also are unable to get a good night s rest due to the continuous noise of the trucks. I request the authorities concerned to kindly look into the matter, address our health concerns and also put in place some rules and regulations regarding operation timings.

New Australian leader Julia Gillard voiced confidence yesterday that she will resolve a mining tax row that brought down her predecessor, hoping to cement her party s re-election chances. Gillard, who ousted Kevin Rudd in a secretive party-room coup last Thursday, has made renegotiating the planned tax her top priority before looming polls. "I believe that, in a spirit of goodwill and showing some respect to each other we can get this sorted out, we can see a meeting of minds, and that s my aim," Gillard told commercial radio. "I do believe there will be an end point here… It s not in the national interest for uncertainty and indeed acrimony to be there in the public debate." Rudd s 40 per cent levy on mining profits prompted a fierce backlash from the key export industry that found sympathy among millions of Australians who are investors through share portfolios or mandatory pension schemes. The dispute cost Rudd vital support in the opinion polls, prompting a swift and ruthless mutiny which installed Gillard as Australia s first woman prime minister. Gillard has moved swiftly to end the tax row, using her first speech as leader to secure a ceasefire with both the government and the miners dropping their TV ads respectively for and against the levy. Yesterday, she said a compromise is in sight and committed her "personal attention and focus" to the dispute. Treasurer Wayne Swan and Resources Minister Martin Ferguson are due to meet mining chiefs today. Swan, now also Gillard s deputy, last week refused to declare any aspect of the tax off-limits for negotiation, a marked shift from his unbending rhetoric under Rudd. A compromise exempting the embryonic coal-seam gas industry was reported to be afoot, and reports suggested Gillard was keen to resolve the impasse by the end of this week. Speculation is mounting that Gillard s Labour party is ready to call an election as early as August, with betting agencies reporting the odds on August 7, 14 or 28.

According to figures by the Kuwaiti-based Global Investment House (GIH), net earnings of cement companies in GCC countries grew by 19.1% to around $421.49m in the first quarter of this year, from around $353.9m in the first quarter of 2009, Emirates Business has reported. Profits were higher despite a 71.3% decline in awarded projects to $8.9bn from nearly $31bn in the same period last year.

Trade exhibitions and expos seem to be an affective tool for businesses to survive and thrive during recession. International Expo-Consults (IEC), industry leaders in exhibition business, have seen a sharp upturn in business, said IEC officials. According to them, results from their portfolio of trade shows following the economic slump, have recorded a substantial increase as companies look for cost-effective ways to promote their brands, establish new business leads and cement long-term relationships. "In this time of recession, trade shows have become more vital at securing and maintaining business relationships. They remove the gap between the client and the supplier," says Abdul Rehman Falaknaz, President of IEC. "Our trade shows are really industry-focused – B2B. The supplier and the buyer get to source business partners under one roof and this is crucial at this time as companies are facing cash flow problems. Exhibitions are about connecting opportunities . Companies from the West need to take advantage of the opportunities available in the Middle East as this part of the world is growing at a fast pace compared to already established markets." IEC s Dubai Entertainment, Amusement and Leisure (Deal) expo, held at Dubai World Trade Centre in April, showed strong market resilience with about 5,000 visitors from more than 50 countries attending. Deal showcased 150 exhibitors throughout the three-day event. The seventh annual edition of Franchising Middle East (FME), the region s leading exhibition for the franchise sector, proved a huge success in 2010 with 62 exhibitors representing a wide range of regional and international brands. More than 3,000 visitors from 20 countries attended the event. Sign and Graphic Imaging (SGI) Middle East, which took place at Dubai Airport Expo in January, provided the perfect showcase for new product innovations, with large-scale industrial print technology demonstrated at the show.