Arabic News Weekly Edition for Economics, 7/28/1997
Weekly Edition, Economics - Week of July 28, 1997
- Ice cream lovers' import fears melt in Lebanon
After a meeting with President Elias Hrawi, Shawki Fakhoury, the Lebanese minister of agriculture, appeared to backtrack from his controversial list of food import bans and restrictions one day before the cabinet meets to discuss changes to his proposal. Lebanon, Business, 8/2/1997 - Mini budget to face inflation in Algeria
The Algerian government drafted a mini budget for the next 5 months to meet inflated state expenditur Algeria, Economics, 8/1/1997 - Tourism flourishes in June, July
An unprecedented increase in the figure of Arab and foreign visitors to Egypt was noted during June and July 1997. Egypt, Economics, 8/1/1997 - Oman signs contract for mobile communications
Motorola, an American telecom giant, won a 13 million US dollar contract to expand Oman's Global System for Mobile Communication. Oman, Economics, 8/1/1997 - Al Waleed aids Arabs in Palestine
The Saudi prince's Kingdom Holding company announced his first Palestinian investment, saying he was to pump 10 Million US dollars into hotel and housing projects in the Gaza Strip and cities of the West Bank. Palestine, Business, 8/1/1997 - KFAED renews financial deal with Syria
Kuwait renewed the financial facilities agreement with Syria for an extra five years, designed to finance imports and exports with 50 million US dollars. Syria, Economics, 7/31/1997 - Qatar to boost refining
Qatar plans to spend two billion riyals on expanding the output capacity of its lone refinery to 137,000 barrels per day. Qatar, Economics, 7/31/1997 - Value of Kuwait foreign investment up by 10 billion US dollars
Kuwait's 1996/97 earnings from its huge foreign investments could exceed the actual oil revenue of the previous fiscal year. Kuwait, Economics, 7/31/1997 - Conoco risks losing Syrian contract
US oil giant Conoco could lose a 350 million US dollar contract to develop gas in Syria because of proposed laws in the American congress to ban financial dealings with Damascus. Syria, Business, 7/31/1997 - Iraq oil delays may prevent further sales
Iraq may be unable to sell all the oil authorized under a UN oil-for-food agreement if it does not resume exports soon, a senior US official said. Iraq, Economics, 7/30/1997 - Algeria to privatize more than 200 firms
Algeria is planning to sell off between 200 and 230 state-owned companies. Algeria, Economics, 7/30/1997 - Prince Al Walleed invests in Palestinian firm
Saudi Billionaire Prince Al-Waleed Bin Talal has invested 10 million U.S dollars in the flagship Palestinian PADICO firm. Palestine, Business, 7/30/1997 - US government grants 6.5 million US dollars in development aid
US ambassador to Lebanon Richard Jones disclosed that his government has approved an additional 6.5 million US dollar grant for rural development in Lebanon. Lebanon, Economics, 7/29/1997 - Egypt strikes barter deal with Sudan
The final accord will be signed during the first half August in Cairo, according to chairman of the General Company for Trade and Chemicals. Egypt-Sudan, Economics, 7/29/1997 - UAE Oasis to lease three aircraft to Jordan
The new Oasis international leasing co. in the United Arab Emirates will lease three aircraft to Royal Jordanian airlines Jordan, Business, 7/29/1997 - Kuwait oil drilling rights
Kuwait's parliament moved to curb the government's executive powers for fear it might sign domestic oil production and exploration deals with foreign firms Kuwait, Business, 7/29/1997 - Jordan's Aqaba port reduces charges for exporters
Jordan's Aqaba port will soon halve its loading charges on container cargo exports to boost sales of local goods Jordan, Business, 7/29/1997 - World Bank, UN agencies give Yemen loan
The funds will be used to support rural development projects in Yemen's southern governorates. Yemen, Economics, 7/28/1997 - UAE needs 200,000 new jobs by 2006
The United Arab Emirates (UAE) will have to find about 200,000 new jobs for its nationals by the year 2006, Minister of Communications Ahmad Humaid al Tayer said. United Arab Emirates, Economics, 7/28/1997 - Gulf Stream Resources to win Oman oil deal
Oman signed a 20 million oil exploration and production agreement with Canada's Gulf Stream Resources Ltd. Oman, Business, 7/28/1997 - UAE stocks rise in busy trade
Shares on the United Arab Emirates (UAE) stock market ended the week higher in busy trade that focused on market leaders and recently listed issues. United Arab Emirates, Business, 7/28/1997 - Circumstances improper for Doha summit
The chief of the Arab Businessmen's Council, Hamdi al Tabba, said the current circumstances the region is passing through are improper to hold the economic summit in Doha. Qatar, Economics, 7/28/1997