Arabic News Weekly Edition for Economics, 12/22/1997
Weekly Edition, Economics - Week of December 22, 1997
- Libyan siege costs $24 billion US
An official Libyan source said that Libya's losses as a result of the UN sanctions imposed since 1992 are estimate at US $24 billion Libya, Economics, 12/26/1997 - UAE plan to encourage small businesses
Some UAE nationals derive most of their income sponsoring expatriates, who have to pay fees to their sponsors and sometimes a share of profits United Arab Emirates, Business, 12/26/1997 - Moroccan economic growth rate to double
The Moroccan economy is expected to achieve a growth rate between 6% and 7% during the coming year if agricultural output meets targeted figures Morocco, Economics, 12/26/1997 - Russian economy minister to visit Cairo
It will also tackle establishing a free commercial zone between the two countries and forming a council for Egyptian - Russian businessmen. Egypt, Economics, 12/26/1997 - Sherif Phosphates receives $36 million French loan
The loan will be transferred to the Moroccan - Indian Company for Phosphates Production which is responsible for setting up the unit at a cost of $230 million. The production capacity of the unit is expected to be 330 thousand tons per year. Morocco, Business, 12/26/1997 - US tries to strengthen trade presence in North African region
The USA is trying to boost its commercial presence in the North African region and increase the number of its projects in the Middle East, as the US sent economic delegations to the capitals of the region. North Africa, Economics, 12/26/1997 - Moroccan debts to Spain will be used as investments
Spain agreed to transfer Moroccan debts worth $40 million to local investments. Spain had also transferred Moroccan debts worth $50 million into investments in Morocco's northern region. Morocco, Economics, 12/26/1997 - Chinese power generation project in Yemen worth $3 billion
In addition to this project, the Chinese company will also implement another industrial project to produce aluminum. Yemen, Economics, 12/26/1997 - World Tourism Organization in Cairo
Minister of Tourism Mamdouh Beltagi stressed that the tourism industry is of paramount international importance not only because of the hard currency it generates but also because of the thousands of jobs it creates. Egypt, Economics, 12/26/1997 - Egyptian economy is sound and improving
A report issued by the Information Center which is an affiliate of the Egyptian Cabinet showed that the Egyptian Inflation rate declined to 4 %, and savings increased to L.E. 203 billion Egypt, Economics, 12/25/1997 - Stronger economic and trade ties between the US and Algeria
In spite of the unstable security situation in Algeria for many years, the USA and Algeria are trying to boost their ties in trade and industry. Algeria, Economics, 12/25/1997 - $600 million from Saudi Arabia to Lebanon Lebanon-Saudi Arabia, Economics, 12/25/1997
- Tunisian and Moroccan companies to boost presence in US market
Tunisian textile and electronic companies started to export their products to the USA last year. It is expected that Moroccan companies will reach US markets next year. Tunisia-Morocco, Business, 12/25/1997 - Turkey allows Jordanian trucks in
Turkish authorities allowed 90 oil-filled Jordanian tanker trucks to cross Turkey's border with Syria after those authorities prohibited them from passing through, saying that they were carrying Iraqi oil. Jordan-Turkey, Economics, 12/25/1997 - Growth rate projected at 5.3% in Jordan
Hafez also expected that the Jordanian trade deficit will decrease by about 37 million dinars to 1.726 billion in 1998. Jordan, Economics, 12/24/1997 - Palestinian savings abroad worth $30 billion
Abu Eissa ruled out the possibility that the Palestinian pound will be issued at the present time as the current circumstances are not favorable for such an action. Palestine, Economics, 12/24/1997 - Gulf Cooperation Council countries to develop oil refineries
The sources expected that the GCC countries will raise their oil production to 4 million barrels a day by the year 2007 compared to 2.1 million barrel a day in 1996, an increase of about 90%. Gulf, Economics, 12/24/1997 - Egypt refuses to sell gas to Israel
The Egyptian stance got stronger after Egypt received a Turkish request to import Egyptian gas, meaning there is no surplus gas. Egypt-Turkey, Economics, 12/24/1997 - Moroccan-French cooperation in the electricity field
The Europe-Arab Moroccan Pipeline which transfers the Algerian gas to Spain through Morocco will provide the station with its power needs. Morocco, Economics, 12/24/1997 - Saudi Arabia - Pakistan Saudi Arabia, Economics, 12/24/1997
- Lebanese television workers on strike for three days, starting today
The General Assembly of the Syndicate of Workers in Tele-Liban decided to go on strike for three days starting today. Lebanon, Business, 12/24/1997 - Arab economy needs improvement, debts increase $50,000 each minute
Arab countries are also spending huge sums of money on arms deals, the Arab countries buy 40 % of the world's arms production. Regional, Economics, 12/23/1997 - Unemployment in Israel
The same people who demonstrated against Netanyahu Monday had greeted his political foe, opposition Labor Party chairman Ehud Barak, with chants like “Barak to power.” Israel, Economics, 12/23/1997 - Yemen increases petroleum production
Production from live fields directed by the French company Total, averages 20,000 barrels and could be increased to 50,000 barrels by the middle of next year. Yemen, Economics, 12/23/1997 - Suez Canal bridge 2001
A ministry of transport delegation left Cairo for Tokyo last week to hold talks with Japanese officials on the construction of the middle part of the suspicion bridge which will link Africa and Asia across the Suez Canal. Egypt, Economics, 12/23/1997 - Jordan will export $31 million to Iraq
new contracts have been ratified by the UN Security Council Sanctions Committee according to which Jordan is allowed to export goods worth US $31,062,452 through 25 contracts between the Iraqi government and Jordanian companies. Jordan-Iraq, Economics, 12/23/1997 - Abusimbel 2017
The development drive in the city is aimed at creating 16,000 jobs in various fields and create new communities accommodating around 51,000 by the year 2017, said Minister of Housing Dr. Mohammed Ibrahim Soliman. Egypt, Economics, 12/23/1997 - Yemen businessmen meet Yemen, Business, 12/23/1997
- UAE - Iraq passenger line United Arab Emirates-Iraq, Business, 12/23/1997
- Syrian Premier confers with WB official Syria, Economics, 12/23/1997
- Israeli anti-Christmas measures in Bethlehem
Israel has banned Palestinian buses from entering Jerusalem during the upcoming Christmas season and as such has given a monopoly to Israeli bus companies to transport tourists to Bethlehem for Christmas. Palestine, Business, 12/23/1997 - Efforts to boost Mexican-Syrian economic relations
A Mexican economic mission will visit Syria next spring and a delegation of Syrian businessmen will visit Mexico next autumn to explore new opportunities for developing joint cooperation. Syria, Economics, 12/23/1997 - Arab investment company soars profits Bahrain, Business, 12/23/1997
- Germany and Syria fail to solve delayed credits terms
Damascus demanded compensation worth $759 million due for damages caused by East Germany's breach of contracts, the sources said. Syria, Economics, 12/22/1997 - Jordan investment Jordan, Economics, 12/22/1997
- Oman privatization Oman, Economics, 12/22/1997
- American commercial chamber holds conference about investment in Egypt
The American Chamber of Commerce in Egypt will hold an international conference for investment next February in order to increase foreign investment in Egypt Egypt, Economics, 12/22/1997