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Ismail Hassan, governor of the Egyptian central bank said that Egypt's foreign debts in European currencies have been reduced by 15% due to the reduction of the euro exchange price before dollar in international markets. In special statement to ArabicNews.com he said that the European currency lost 15% of its value during the first half of the current year, adding that this reduction in the euro's value is in Egypt's interest, as a large percentage of Egyptian foreign debts are in euros. He said the reserves of the central bank are strong and are comprised of many different currencies, the greatest portion in U.S. dollars. Go

The Egyptian Ministry of Trade is getting ready in association with organizations and the Egyptian Businessmen's Association to organize marketing missions for Egyptian exports during September to New York, Washington and the Carolinas. Egyptian sources told ArabicNews.com today that the needs of U.S market were studied, and three groups of goods that enjoy customs exemptions in U.S. market were chosen for promotion. Go

The Jordanian embassies started implementing the resolution of Jordanian Prime Minister Abdul Raouf al-Rawabdeh not to grant visas for laborers unless they have prior consent from the Jordanian Ministry of Labor, in the framework of the Jordanian government's plan to get rid of surplus foreign laborers according to a specific timetable aimed at organizing the flow of workers as well as giving priority to national workers. Go

Bahraini Emir Sheikh Hamad Bin Issa al-Khaleifa on Thursday enacted a law pardoning Sheikh Abdul Ameer al-Jamri, who was on Wednesday sentenced to ten years imprisonment after he was convicted by the high court of appeal of accusations addressed to him of spying for a foreign state and provoking riots and acts of violence. Go

Spanish Foreign Minister Jose Maria Aznar will on July 5 hold a tour of the Middle East, during which he will hold talks concentrated on the Middle East peace process. Aznar's three-day tour will cover Syria, Jordan and Lebanon. Go

US president Bill Clinton hailed efforts made by King Hassan II that made of Morocco a model of stability in the region. In a message he sent to the sovereign on the occasion of the Youth Day, which marks this year the king's 70th birthday, the US chief executive expressed admiration for the king's efforts to promote the multi-party system and political freedom, making of Morocco an example of democracy for other countries in the region. Go

The Egyptian - British Businessmen's Association is organizing a November economic mission to Britain under the auspices of the British Ministry of Trade and Industry and the British embassy in Cairo. David Reed, the British commercial advisor in Cairo, said the mission aims at learning about investment opportunities in Britain and increasing the volume of commercial exchange between the two countries, which witnessed an increase of 10% during the period of January to April 1999. Go

The chamber of advisors (the upper chamber of the Moroccan parliament) approved on Wednesday the creation of a free trade area with a group of four European countries (Switzerland, Norway, Iceland and Liechtenstein). Go

The Care International organization decided to present an easy loan of 12 million Egyptian pounds for social development projects in four Egyptian governorates -- Fayyum, Suhaj, Qina and Aswan -- in addition to supporting the existing projects in the governorates of Bani Suwayf, El-Minya and Asyut. Go

Egyptian President Hosni Mubarak met today in Alexandria, Egypt with Israeli Prime Minister Ehud Barak. A press conference by the two leaders expressed a positive tone toward the future of peace negotiations with Mubarak asking that Barak be given a month or two of preparations for a peace initiative, while awaiting concrete Israeli actions. Barak expressed that no stone will remain unturned in the efforts for peace. Go

The Egyptian Supreme Council for Antiquities is discussing the idea of establishing a museum specializing in crocodiles and water creatures in pharonic Egypt in the Kom Ombo area in Aswan, which was one of the main centers for worshipping the god "Sopeck," (crocodile), a symbol of good in ancient Egypt. Kom Ombo temple includes 300 mummified crocodiles in addition to a group of water creatures, animals and mummified insects that were famous in ancient Egypt. Go

The Egyptian-Romanian committee will convene next week in Bucharest to implement the joint free trade zone and reduce customs fees on the goods between the two countries, as well as to deal with Romanian steel imports in addition to discussing the problems facing Egyptian projects in Romania. Go

Moroccan Prime Minister Abderrahmane Youssoufi chaired on Thursday the first government council after the surgery to the head he underwent in June 20. Youssoufi, 75, left the Rabat Ibn Sina hospital on June 30. Go