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Arab countries serious that free trade zones agreement will work
The Free Trade Zone Agreement aims at unifying the customs system between the member countries as a first step leading to founding a customs confederation through which all member countries will have a unified system in their dealings with any non-member country.
Regional, Economics, 9/27/1997
Trouble amidst the government due to failed passage of economic plan
The first repercussion on practical grounds came from the minister of the displaced, Walid Jumblat, who announced that his ministry will stop its work until funds are available.
Lebanon, Economics, 9/27/1997
Stock exchange set up in the UAE for the first time
In its monthly economic report, the National Bank of Dubai specified the requirements needed to set up an official stock exchange market in the UAE which is the only Gulf country that does not have a stock exchange market.
United Arab Emirates, Economics, 9/27/1997
Syrian exports rise by 6 percent
Oil topped the list of Syrian exports followed by phosphates, cotton, garments, wheat and grains.Germany remained the biggest exporter, while Italy the largest importer.
Syria, Economics, 9/27/1997
Electrical link between Egypt, Syria and Turkey
The cost of the project of electric connection between Egypt and Jordan is $250 million, financed by the Arab Social and Economic Development Fund
Egypt-Jordan, Business, 9/27/1997
Libya to hold cooperation meetings with Egypt
The Libyan-Egyptian committee will examine methods aimed at increasing joint investments, especially in the fields of medical supplies, iron products, textiles, ready to wear clothes and the automobile industry.
Libya-Egypt, Economics, 9/27/1997
Foreign investments boost in Qatar
Al-Attiyah, who is also the chairman of Qatar General Petroleum Corporation (QGPC), said his visit to the US was a follow-up to the recent visit made by the Emir of Qatar Sheikh Hamad bin Khalifa al-Thani, during which the two countries agreed to continue discussions on economic topics.
Qatar, Economics, 9/27/1997
Asian countries receive 26% of Tunisian exports
The volume of Tunisian exports has tripled in the past ten year, scaused by growth of the exports of electric and mechanical supplies, the canned food and the other food items especially oil, whose volume increased to 51 tons.
Tunisia, Economics, 9/27/1997
American companies to work on the production of natural gas
The natural gas project is considered the biggest project to be implemented since the civil war
Lebanon, Business, 9/27/1997
Zaitoun neighborhood in Gaza waiting for development
The development project includes an installation of a sanitation network, pavement of 10 roads, as well as other services related to infrastructure.
Palestine, Economics, 9/27/1997
Siege hampers 90% of construction projects
Palestine, Economics, 9/27/1997
Former Prime Minister Hoss attacks the $800 million regional development plan
Hoss described the plan as "a declaration of failure" for the government and pointed out that the government had not included a proposal to raise taxes and increase borrowing in its policy statement a year ago.
Lebanon, Economics, 9/26/1997
North African Arab countries to be connected by $1.3 billion phone network
Al Qwayan mentioned that the regional project which the International Telecommunication Union ratified in 1993 will be capable of connecting 240 thousand phone calls at the same time.
North Africa Region, Economics, 9/26/1997
Saudi businessmen will head to Cairo to set up investment companies
The delegation will include representatives of a group of industrial companies working in production and exporting.
Saudi Arabia-Saudi Arabia, Economics, 9/26/1997
Privatization effort continues with sale of 10 companies every three months
To increasing the volume of investment to a rate he aim is to have 7% increase of the gross national product, and reducing inflation to less than 4% a year. He stated that this could be achieved by increasing the national savings and attracting direct foreign investments.
Egypt, Economics, 9/26/1997
The 2nd International Conference of Mediterranean Countries starts today
Dr. Ibrahim Fawzy will talk about the progress of the Egyptian economy and the investment environment that Egypt enjoys, through which it can attract more investments.
Regional, Economics, 9/26/1997
American ambassador in Cairo: Egyptian economy was not affected by the current tension in ME
The American ambassador in Cairo, Edward Walker, said that the possibility of an eruption of war in the Middle East region is inconceivable, and that the differences between the parties involved in the peace process will be solved in a way that will serve the interests of all the parties concerned.
Egypt, Economics, 9/26/1997
Yemeni oil reserves at 4 billion barrels
Yemen currently produces between 375 and 380 million barrels a day, which will increase by next April to 405 million barrels, as between 20 to 25 thousand barrels will be added to the production from section 10 east of Shebua.
Yemen, Economics, 9/26/1997
Saudis to host Gulf post office regulations meeting
Participants in the two-day meeting are scheduled to discuss setting special tariffs on letters including literature and sciencific printed material, in addition to the idea of connecting the GCC countries with a land postal network
Gulf Region, Economics, 9/26/1997
Gifts on display at local fair
The exhibition is considered to be a marketing outlets for gift products in Kuwait and the Gulf region.
Kuwait, Economics, 9/26/1997
Syria annuls previous decree that limited personal export of goods.
Decree No. 1041 provides that those departing Syria are allowed to take any quantity of Syrian-made products without signing a pledge to bring them back, without limiting the quantity or value of these products, without making customs statement whether these products were taken for the purpose of trade or not.
Syria, Economics, 9/25/1997
Libya appeals for end to UN sanctions
"We call upon the world community to lift these unjust and unjustified sanctions imposed on Libya," Libyan Finance Minister Mohamed Beit Al Mal said in a statement to the annual meeting of the World Bank and International Monetary Fund.
Libya, Economics, 9/25/1997
Cabinet turns down Hariri development plan
Gasoline tax hikes of 5,000 and 3,000 LP cannot win votes by the cabinet ministers.
Lebanon, Economics, 9/25/1997
German tourists still going to Egypt
Minister El Beltagy said that there has been few cancelations by Germans planning on visiting Egypt, and that the biggest trip organizers in the German market such as Toyea and Nickerman decided not to cancel their tours.
Egypt, Business, 9/25/1997
Top executives of successful GCC firms to meet in Dhahran
Managers and leaders of 10 most successful GCC ventures will review their work experience and administrative strategies during the forum, in addition to the problems they faced during their progress.
Gulf Region, Business, 9/25/1997
Middle East discusses the future of money
The conference discussed a number of important subjects regarding investment opportunities in the Middle East and North Africa and the future of the stock exchange markets in the region.
Regional, Economics, 9/25/1997
Arab Ministers of Electricity study setting up Arab joint market
The ministers studied setting up an Arab joint market for manufacturing the supplies for an electricity generation station and distribution network.
Regional, Economics, 9/25/1997
Egyptian Ministry of Supply increases exports to US
The Egyptian Ministry of Trade and Supply started to implement a plan aiming to increase Egyptian exports to the US in order to adjust the disparity in the trade balance between the two countries.
Egypt, Economics, 9/25/1997
Qatar-Canada talks on petrochemical cooperation
Qatar's Energy and Industry Minister Abdullah bin Hamad Al-Attiyah arrived yesterday in Sarina and toured the Nova Corporation's petrochemical complex there as part of his current visit to Canada.
Qatar, Economics, 9/25/1997
Sharp increase in Arab states' economic growth rate
A statement by the Kuwait-based Inter-Arab Investment Guarantee Corporation said last month that the highest growth was registered by Mauritania at seven percent followed by Tunis at 6.90%.
Regional, Economics, 9/24/1997
Economic plan to include more taxes on cell phones and real estate
While president Hrawi seemed, to be backing the prime minister's proposals, Speaker Berri announced his refusal of the increase in the price of gasoline and of any indirect taxes.
Lebanon, Economics, 9/24/1997
An agreement between the Arab countries and the US Banks Confederation covering many fields
The agreement aims to establish firm and long term relations between the two sides which resulted in giving the Academy extensive rights such as the right to represent the Confederation in specific fields.
Egypt, Economics, 9/24/1997
Renovating the Tunisian fleet ignites competition between Airbus and Boeing
Tunisian Airlines will buy from both the American and the European companies, though Airbus has stated that it will take the biggest portion of the deal.
Tunisia, Business, 9/24/1997
Palestinian Authority reduces expenses by $45 million
Finance Minister Nashasheny stated that he will submit a complete report to the conference of the International Monetary Fund regarding the economic situation during the closure period.
Palestine, Economics, 9/24/1997
Qatar to export liquid gas to Spain
The Qatari Gas company singed an agreement with a Spanish company through which Qatar will provide the Spanish company with 420 thousand tons of treated liquid gas over a period of 13 months.
Qatar, Business, 9/24/1997
European Communtiy studies grant proposal for Palestinians
The Palestinian Minister of Planning and International Cooperation said that Spain will support a European Community proposal to offer a $50 million grant to the Palestinian Authority.
Palestine, Economics, 9/24/1997
Saudi company represents two international hotel chains
The Saudi Arabian Company "Al Atar Tourism" signed an agreement to represent Marriott Hotels in Saudi Arabia.
Saudi Arabia, Business, 9/24/1997
Signing three agreements
The agreements include providing 540 villages of the northern provinces with electricity from which 60,000 families will benefit.
Morocco, Economics, 9/24/1997
8.4 million dinars for Tunisia from Japan
The Tunisian government received nine million Tunisian dinars as a donation from Japan to finance maritime research activities and other projects.
Tunisia, Economics, 9/24/1997
A new Islamic satellite TV channel
Saudi Arabia, Business, 9/23/1997
ISO 9000 for 10 Syrian products
Chief of the Syrian Industry chamber, Yahia al Hindi, said ten Syrian establishments received ISO 9000 certificates and around 50 other establishments are preparing to get the International Standardization Organisation certificate.
Syria, Economics, 9/23/1997
Israel's Koor faces hard times ahead.
With the deterioration peace process between Israel and Palestinians, Koor industries of Israel is expected to witness some very hard times.
Regional, Business, 9/23/1997
Increase in Jordanian tourism
The Jordanian Tourism Minister Aqil Beltagy stated that the tourism sector contributed 11% of the Jordanian gross product through the first 7 months of the current year with a 4% increase.
Jordan, Economics, 9/23/1997
Arab investment in Yemen heading toward $1 billion
The deputy director of the Yemeni Chamber of Industrial Trade Unions declared that the volume of Arab investments in Yemen will reach $1 billion by the end of the century, a $500 million increase.
Yemen, Economics, 9/23/1997
Egyptian businessmen visit North African countries
The visit was organized by the Center for Developing Egyptian Exports to promote the Egyptian exports, to increase inter-Arab trade, and study the establishment of joint investment projects.
Egypt, Economics, 9/23/1997
Egypt requests Israel pay $30 million
Egypt estimated the volume of compensation that it requests from Israel at $30 million for exploiting the Egyptian resources during the years of the Sinai occupation after the 1967 aggression.
Egypt, Economics, 9/23/1997
The 1998 budget will be discussed tomorrow
The growing treasury deficit and the new tax proposals will be, according to sources, the center of the discussion.
Lebanon, Economics, 9/23/1997
Dubai, water development summit
One hundred and fifty water projects were recently completed in the middle east at a cost of $45 billion in private investments alone. projects worth another $45 billion are under discussion, according to a MEIDC official.
Regional, Economics, 9/22/1997
Jordanian-Egyptian power grid to operate in December
Power Grid unification between Jordan and Egypt will start next December within the project of unifying the eastern Arab countries in one electric network.
Jordan, Economics, 9/22/1997
Iraq exports 18 million barrels via Gulf
Iraq has so far exported more than 18 million barrels of crude oil from its port on the Gulf under the second phase of the oil-for-food deal with the UN.
Iraq, Economics, 9/22/1997
$63 million from the World Bank to Jordan
The World Bank announced that it will offer Jordan two loans worth a total value of $63 million to help Jordan pave roads and restore tourist and archeological sites.
Jordan, Economics, 9/22/1997
Syrian crafts exhibitions opens
A Syrian exhibition for crafts opened, held within framework of the activities of the fourth Damascus festival for culture and heritage
Syria, Economics, 9/22/1997
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