Arabic News Weekly Edition for Economics, 12/1/1997
Weekly Edition, Economics - Week of December 1, 1997
- Increase in quantity, cost of fuel transferred from Iraq to Jordan
The Jordanian government decided to raise the transferal costs for the raw fuel transferred from Iraq -- with an increase of 0.5 dinars (0.71 dollars) for each ton -- thus the costs became 10 dinars ($14.1 US) instead of 9.5 dinars. Jordan-Iraq, Business, 12/6/1997 - Lebanon: 438,000 tourists in the last 9 months
In the first quarter of the year tourists from Saudi Arabia, the Emirates, Bahrain, Qatar, and Jordan were about 88,900 compared with 53,000 in the same period last year. Saudi tourists accounted for 36,000 visits. Lebanon, Business, 12/6/1997 - Strong competition among the telecommunications companies to invest in Morocco
There is strong competition among national and international telecommunications companies to sign contracts with commercial banks in preparation for their participation a major Moroccan privatization operation. Morocco, Business, 12/5/1997 - Egypt will not increase its oil production
Egypt's production is determined by a national strategy which aims to maintain the Egyptian oil reserves and to increase them in order to attract more international investments to explore in the new areas. Egypt, Business, 12/5/1997 - First major bank privatized in Tunisia
In another first in Tunisia, a public sector bank is going to be privatized. The Bank of Al Ganoub, considered to be one of the biggest banks in Tunisia, was put up for sale. Tunisia, Economics, 12/5/1997 - Yemeni banks reduce profit ratios
The Yemeni Central Bank's governor issued three decrees which determine the new profit ratios and the obligatory reserves on the savings of the commercial banks and the Central Bank. Yemen, Economics, 12/5/1997 - Kuwaiti Investment Authority nets $3 billion
The Managing Director of the Kuwaiti Investment Authority, Rashid Badr, stated that the authority took in $2.97 billion as a result of selling government shares in 24 public establishments within the privatization program. Kuwait, Economics, 12/5/1997 - Arab - African gathering in the Emirates tomorrow
The UAE city of Sharja will witness tomorrow a major Arab-African gathering as it will host the 3rd Arab-African Commercial Exhibition Regional-United Arab Emirates, Economics, 12/5/1997 - Israel sleepovers Palestine-Israel, Business, 12/5/1997
- Industrial consultation seminar
The Gulf Organization for Industrial Consultation called for a December 16 seminar in which all the industrial investment companies in the Gulf Cooperation Council countries will participate. Gulf Region, Economics, 12/5/1997 - Egypt - Tunisia trade up to $300 million
Preparations are underway to increase the volume of the trade between Egypt and Tunisia and to increase Egyptian exports to Tunisia especially, petrochemicals, phosphates, tourist appliances, furniture and sanitary devices. Egypt-Tunisia, Economics, 12/5/1997 - OIC experts wrap up deliberations
The economic and cultural committees also approved several projects including cooperation between Islamic states and establishing a common Islamic OIC market. Regional, Economics, 12/5/1997 - Saudi Industries branch in Barcelona
The Saudi Arabian Basic Industries Company will celebrate its inauguration of the first of its branches in Barcelona which will be responsible for marketing the company's products in Spain. Saudi Arabia, Business, 12/5/1997 - Gulf countries discuss laws to encourage foreign investment
The plan includes granting foreign investors incentives a five-year exemption from taxes, and partial or complete exemption from customs imposed on raw materials and machinery in addition to Gulf Region, Economics, 12/4/1997 - Carthage Park Investment project in Tunisia
Carthage Park City is 23 hectares and is expected to house three thousand residents in 220 deluxe flats and 29 villas. The commercial center will include the market of Carthage, shops, restaurants, cafes, supermarkets, and a bank branch. Tunisia, Business, 12/4/1997 - IDB board of governors concludes deliberations
The Syrian Economy Minister noted that the IDB has given Syria $276 million so far. He said he considered the setting up of a "basic infrastructure fund" for infrastructure projects as one of the most important decisions taken by the council of governors. Regional-Syria, Economics, 12/4/1997 - Palestinian debts reach $390 million
The undersecretary called for benefiting from the experiences of some neighboring countries, pointing out that 33 % of the upcoming Israeli budget was dedicated to fixing the financial problems resulting from accumulating debts. Palestine, Economics, 12/4/1997 - Cabinet endorses fiscal plan, will borrow $2 billion
All governments are in debt. It is part of the world economic system. They question is how to handle the debt and reduce the deficit, Prime Minister Rafik Hariri said. Lebanon, Economics, 12/4/1997 - Egyptian-Moroccan economic ties to revive
Moroccan prime minister Abdellatif Filali yesterday said economic ties between his country and Egypt were still not at the level that they can be. Morocco-Egypt, Economics, 12/4/1997 - Tunisian-French-Saudi ostrich growing project Tunisia, Business, 12/4/1997
- New silo project inaugurated Syria, Economics, 12/4/1997
- Egypt continues with privatization
The minister of public enterprises in Egypt announced that 80 companies, representing 20% of the total number of public sector companies, have been sold since the commencement of the privatization program Egypt, Business, 12/4/1997 - Boosting Algerian - Syrian relations
The Algerian Minister of Tourism and Hanidcrafts Abdel Kader Bin Karina is currently in Syria on a week-long official visit which aims to strengthen tourism cooperation between Algeria and Syria. Algeria-Sudan, Economics, 12/4/1997 - Syrian economy booms
Until recently, the economy had been largely managed through a central planning system, but one which kept a role for the private sector particularly in agriculture, small industries, tourism and domestic trade. Syria, Economics, 12/3/1997 - Tunisia full steam ahead with privatization
The privatization plan that started in 1986 is proceeding side-by-side with reforms in the country's economic structure that will provide the economy with 350 million dinars. Tunisia, Economics, 12/3/1997 - OIC trade exhibition in Iran
On the sidelines of Tehran's forthcoming Islamic Summit, an exposition in the fields of industry, minerals, agriculture, scientific, industrial, cultural research, the arts, communications, and economy and trade will be organized Regional, Economics, 12/3/1997 - Sudan stops dealing in the US dollar
Some economic circles believe that the US dollar will not be affected by those measures while they will harm the Sudanese merchants who have run their transactions in the US dollar. Sudan, Economics, 12/3/1997 - Granting countries offer only 10% of their commitments to Palestine
He pointed out that work is underway on more than one track to enact commerce laws in order to strengthen the Palestinian economy. Palestine, Economics, 12/3/1997 - 40% of UAE bank employees to be nationals
The Ministry of Economy in the UAE decided to require all the national and foreign banks in its territories to employ at least 40% of their workers from among UAE citizens. United Arab Emirates, Economics, 12/3/1997 - Cabinet to discuss 'fiscal rescue plan'
The plan spells out means of restricting waste in the Lebanese administration and keeping the budget deficit in check. It was unanimously agreed upon by President Elias Hrawi, Prime Minister Rafik Hariri and House Speaker Nabih Berri. Lebanon, Economics, 12/2/1997 - Master Card and Bank of Kuwait and the Middle East launch debit card
More than 50,000 cardholders will be able to use their Al-Awsat ATM cards to make purchases at more than 1.7 million merchant locations in over 60 countries on six continents. Kuwait, Business, 12/2/1997 - Exporting Egyptian gas to Europe through Libya
L.E. 260 million was allocated to set up 125 service stations, rest houses, and motels on the coastal and desert roads between Egypt and Libya. Egypt-Libya, Business, 12/1/1997 - Casablanca bourse quiet for now
Investors in Casablanca's bourse are watching for what is going on in other world bourses after indications showed that the collapse of the Asian bourses are moving to the primary bourses. Morocco, Economics, 12/1/1997 - Investments worth of $200 billion in Gulf till 2010
The best investment opportunities during the upcoming 15 years are expected to be in the following fields: oil, gas, petrochemicals, electricity, water, aluminum, infrastructure, education and health. Gulf Region, Economics, 12/1/1997 - Accord only serves Israeli economy, Jordanians say
Jordanian political and economic circles have said that the agreement to build an industrial zone in Irbid, north Jordan, which was recently signed between Jordan, Israel and the US, will only help Israel's economy. Jordan, Economics, 12/1/1997 - Bahrain, a free economy Bahrain, Economics, 12/1/1997
- Opec Saudi succeed in raising output Saudi Arabia, Economics, 12/1/1997
- Bahrain expatriate workers Bahrain, Economics, 12/1/1997
- Registration profession loses importance
Legislators have enacted laws that allow writing some contracts on an unofficial basis instead of stressing official registration of those contracts by modern registrars. Morocco, Business, 12/1/1997 - Lebanon, Islamic bank sign $26 million agreement
Lebanon and the Islamic Development Bank on Saturday signed a $26 million agreement to finance equipment for the government-run Beirut University Hospital. Lebanon, Economics, 12/1/1997