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A beaming Hariri gets budget approval
Lebanon's Cabinet has approved Prime Minister Rafik Hariri's austerity budget for 1998, ending nine days of political wrangling between officials.Announcing the victory to reporters late Friday, a beaming Hariri said the new budget was a cornerstone for the gradual recovery
Lebanon, Economics, 10/4/1997
Qatar sends invitations to countries to attend MENA conference
Qatar was afraid that no president or prime minister would attend the conference except Netanyahu, and it expects the Netanyahuto launch a violent rhetoric against the Arab countries that participate in the conference, which could turn into a political row instead of a discussion of economic issues.
Qatar, Economics, 10/4/1997
Sudanese beef marketed in Israel
The Kuwait paper "Al Qabas" reported that Sudanese beef and mutton are marketed in Israel under the claim that they are imported from Jordan.
Sudan-Jordan, Business, 10/4/1997
Arab League to deadbeat countries: pay up
The league will soon make "intense contacts" to urge defaulting nations to pay out dues amounting to 88.3 million dollars.
Regional, Economics, 10/4/1997
International companies attend electronics exhibition in Dubai
This exhibition will be concurrent with four other exhibitions; The International Cable Supplies and Satellite Broadcasting Exhibition, The Satellite Broadcasting Market Exhibition, the Satellite and Telecommunication Exhibition and the Internet Exhibition.
United Arab Emirates, Business, 10/4/1997
Pay back time of $416 million to Kuwait victims of Iraqi invasion
The awards will go to successful claimants in categories "A" (person who were forced to leave Iraq or Kuwait during the occupation ) and "C" (individual losses less than $100,000 US).
Kuwait, Economics, 10/3/1997
GCC integration: Power grid to be discussed by GCC finance officials in Riyadh
Gulf finance ministers assigned to the Gulf organization for industrial consultations in May to carry out a marketing study of the power grid network.
Gulf Region, Economics, 10/3/1997
Middle East investors meet in Geneva next week
The agenda of the conference includes a series of lectures concentrating on wider understanding of the methods of managing assets.
Regional, Economics, 10/3/1997
Morocco expects to receive more investments
Finance Ministry statistics show that external foreign investments during the past six months were worth 6 billion dirham compared to 1.5 billion dirham during the same period last year.
Morocco, Economics, 10/3/1997
New oil excavation agreements in maritime and land expected
L.E. 10 billion was allocated to implement projects in Alexandria during the coming three years in the field of refining and petrochemical industries and to set up maintenance companies with the participation of the private sector.
Egypt, Business, 10/3/1997
Privatization includes 88 Institutions in Tunisia
The private sector, which is able now to provide for the needs of the country in the ordinary industrial sectors like clothes and shoes making.
Tunisia, Economics, 10/3/1997
The Kuwaiti National Oil company halts strike after promises from foreign minster
The Syndicate of the National Oil Company decided to put a stop to the strike of the exporting workers of Al Ahmady port after the Foreign Minister Sabah Al Ahmad Al Sabah promised to solve the workers' outstanding demands and to study the requests of the Syndicate which caused the strike.
Kuwait, Business, 10/3/1997
Botswanan Minister visits Cairo
The Botswanan Minister of Planing and Industry is currently in Egypt to discuss a number of important issues on the top of which is reaching a final formula of the draft projects for economic cooperation between the two countries.
Egypt, Economics, 10/3/1997
No final decisions yet on Budget
The session, which is the second this week, centered around the measures that the government should take to improve tax collection and initiate administrative reforms.
Lebanon, Economics, 10/3/1997
Syria to divert Euphrates
Syria avoided criticizing the Turkish government which did not officially inform Syria of its agreement to regulate the flow of the Euphrates in order to help the experts implement the project.
Syria-Turkey, Economics, 10/2/1997
US companies dominate oil extraction in the Gulf
American engineering groups have great dominance in Abu Dhabi, Saudi Arabia, Oman, and Kuwait due to the enormous works they carry out. For example in Saudi Arabia, the US company ARAMCO is trying to increase the production of the gas factories, and American companies run most of the new projects.
Regional, Business, 10/2/1997
Pact on linking bourses in Kuwait and Bahrain
The agreement paves the way for a Kuwaiti clearing company and a Bahraini commercial bank to step up a share settlement system that will make it easiest for investors in one market to trade directly on the other.
Bahrain-Kuwait, Economics, 10/2/1997
Tunisian privatization program on schedule
In 1996 officials announced that the government, in a plan to speed up its privatization program, had selected 62 public firms with assets worth 1.4 billion dinars.
Tunisia, Business, 10/2/1997
Foreign investment to be organized
Kuwait's new investment law, which soon will be completed, will organize foreign investment in the country and the possibility of opening representation offices for Gulf banks
Kuwait, Economics, 10/2/1997
Lebanese private hospitals demand fees from patients up front
Owners of private hospitals agreed to postpone for only three weeks their decision to charge patients insured by the government admittance fees up front, exposing deep distrust of the government's pledge to raise funds to pay its debts.
Lebanon, Business, 10/2/1997
Increase in taxes on cigarettes and customs duties on cars in Lebanon
The Lebanese government imposed new taxes on imported cigarettes with a 10% increase which would provide between $62 to $83 million a year.
Lebanon, Economics, 10/2/1997
Iran will implement an underground metro in Damascus
Syria and Iran signed an agreement through which the Tehran Metro company will implement an underground metro in the Syrian capital.
Syria, Economics, 10/2/1997
Arab and international institutions to buy National Bank for Economic Development
Morocco possesses 35% of the total shares of the NBED, whose field is financing industrial projects especially those of the intermediate companies. The bank which was established in 1952 possesses 45% of the capital of all Moroccan industrial projects.
Morocco, Business, 10/2/1997
The minister's crying for more funds
Joumblat offered proposals, including taxes on Casino revenues and closing down some non-useful embassies abroad. Minister Frengieh highlighted the needs of his ministry for funds, affirming that the accumulated debts can't be tolerated anymore and the hospitals are in a critical condition.
Lebanon, Economics, 10/2/1997
A laundry of proposal on finance and budget committee agenda
The main points included enacting active supervision over government spending, starting an administrative reform project, creating a coherent and balanced economic revival plan that will not block social policy, dropping the policy of taxation without prior planning.
Lebanon, Economics, 10/2/1997
A peaceful meeting yesterday
Supervised by President Elias Hrawi, the ministers discussed new revenues that would not affect the poor, including raising cellular phones fees, higher road taxes, introducing a public beach property tax, taxes on hotel and restaurant bills, increasing the import duties on certain items, taxes on the foreign workers in Lebanon, and raising passport fees.
Lebanon, Economics, 10/1/1997
Syria participates in Tehran international fair
The deputy Iranian minister of trade, the fair's director, said that more than 1,100 foreign companies and 1,720 Iranian companies are scheduled for participation in the ten-day fair.
Syria, Economics, 10/1/1997
Qatar and Kuwait Link Bank ATMs
Effective today, holders of bank cards in Qatar and Kuwait will be able to withdraw money from ATM's in both countries at no extra charges
Gulf Region, Business, 10/1/1997
US Iran, Libyan sanctions must be reviewed says EU
US politicians have voiced uneasiness about the French company Total's decision to sign a 2 billion US dollar gas contract with Iran.
Libya, Economics, 9/30/1997
Insurance companies' investments reach record highs
The insurance companies' investments in the deposits and the treasury bonds decreased which is in line with the policy of the government aiming to support the stock exchange.
Egypt, Economics, 9/30/1997
Qatari debts total $ 5.7 billion
A report issued by the Arab Institution for the Protection of Investment, a Kuwait-based offshoot of the Arab League with its headquarters in Kuwait, mentioned that the debt represents 79% of the gross national product and its service represents 20% of the national gross product.
Qatar, Economics, 9/30/1997
Power workers threaten strike
Workers at the electricite du Liban announced on September 29 they would begin an open-ended strike on October 14
Lebanon, Economics, 9/30/1997
Saudi Arabia plans to set up commercial bank in Zambia
The success of Zambia's privatization policy prompted Saudi Arabia to unveil investment programs in agriculture, banking, housing and manufacturing sectors of the economy
Saudi Arabia, Business, 9/30/1997
The granting countries paid only $846 million
Palestine, Economics, 9/30/1997
The meeting of the finance and budget committee
The MPs who were in session all agreed on the refusal of the proposed plan and its tax-increases. They demanded the government to come up with a long-term economic plan and a large-scalereform project supervised by the administration and the independent assemblies.
Lebanon, Economics, 9/30/1997
Putting public sector companies up for sale before the end of next year
The Minister of the Public Sector asked the directors of holding companies to specify those companies whose shares could be circulated on the stock exchange and other companies that could be sold to one major investor.
Egypt, Economics, 9/30/1997
Tunisian Airlines carried 2.2 million travelers through August
The statistics also showed that the number of passengers progressed by an unprecedented rate which is about 20% through the summer months.
Tunisia, Economics, 9/29/1997
Egypt studies certificates to insure foreign tourists
The proposed certificates come among procedures aiming to preserve the tourist influx to Egypt and to remove the negative effects of the Egyptian Museum incident.
Egypt, Economics, 9/29/1997
Syrian seminar on modern oil techniques
The Syrian minister of oil and minerals resources talked about the importance of joint Arab action, especially under the current circumstances in which world countries seek to establish economic blocs.
Syria, Economics, 9/29/1997
Medpartenariat in Tunis
The three day meeting, called ³Medpartenariat² Tunisia 97, is organized by Tunisia's state-run Agency de Promotion de Investissement and the European Union commission.
Tunisia, Economics, 9/29/1997
Tourist rally in Bethlehem reconnects it to the world
Over the past two months, Israeli troops had prevented scores of foreign tourists from entering the town of Bethlehem saying it was a closed military zone.
Palestine, Economics, 9/29/1997
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