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Softwood lumber trade was up 5% the first half of 2019 on a worldwide basis, with China reaching record-high imports in the 2Q

Global lumber trade, softwood, lumber prices, lumber market, China, Russia, Nordic, MENA

GLOBAL SOFTWOOD LUMBER TRADE Demand for lumber in China, the United Kingdom, Egypt and the Netherlands increased this year despite a slowdown in the global economy. Global softwood lumber trade was up just over five per cent year-over-year during the first half of 2019, according to the Wood Resource Quarterly. Of the major importing countries …

MENA renewable energy use to more than triple by 2035

MENA, Middle East, energy

The Middle East is expected to more than triple its share of renewables in the power mix from 5.6 per cent (16.7 gigawatts) in 2016 to 20.6 per cent (100GW) in 2035, according to a new report by Siemens. Natural gas will remain the number one power source in the region, representing 60 per cent of installed capacity through 2035.  “We …

Finnish sawmills excel in the Middle East

Middle East, MENA, Finnish sawmills

According to Woodstat, the import of softwood lumber in the Middle East from the main European exporters and North America was 2.62 million m³ (-14% compared to 2015) during January-August. The import from Russia during the same period was 646,000 m³ (-17%), Romania 510,000 m³ (-27%), Germany 413,000 m³ (-10%), Finland 335,000 …

Chinese and MENA cities take top spots in world’s “Top 10 fastest growing metropolitan areas” report

Dubai, Turkey, fastest-growing cities, MENA, China, Macau

Dubai, the fifth fastest growing economy in the world thanks to an ambitious strategy to diversify its economy. Turkish cities Izmir, Istanbul, Bursa and Anakara are among the world’s top 10 fastest growing metropolitan areas according to the Global Metro Monitor, a report released by the Brookings Institution. Izmir ranks second on …

MENA hospitality sector CAGR to grow 7.6% over 2015-2020

MENA, hospitality, CAGR

The long-term outlook for MENA remains robust with the market expected to grow at a CAGR of 7.6% from an estimated US$25.4 billion in 2015 to US$36.7 billion in 2020, according to Alpen Capital's 'GCC Hospitality Industry Report'. Measures are in place to diversify the economy to buffer against low oil prices and currency …

Upbeat sentiment for MENA construction industry

MENA, construction, 960, real estate

Despite low oil prices, MENA's construction sector remains optimistic with 960 major projects in the pipeline, ranging across the residential, commercial, healthcare, hospitality, smart buildings and education sectors, according to the IDE, organisers of the upcoming RESCOM Summit Middle East. "We see positive market fundamentals in …

Over 10% of softwood lumber exports in 2015 destined for MENA

softwood, lumber, trade, MENA

Demand for softwood lumber in countries in Northern Africa and the Middle East has grown rapidly the past 10 years despite the fall in oil revenue and political instability in the region, accounting for over 10% of global softwood lumber trade in 2015. The markets in Egypt, Algeria and Saudi Arabia especially have become major destinations for …