Arabic News Weekly Edition for Economics, 12/29/1997
Weekly Edition, Economics - Week of December 29, 1997
- Iraq lauds UAE's efforts to soften effects of blockade
Iraqi Minister of Trade Mohammed Mahdy Saleh stated that the UAE suggested a shipping line with Iraq to the Sanctions Committee, which approved the proposal after a judicial dispute between the UAE and the committee. Iraq-United Arab Emirates, Business, 1/2/1998 - Amman: no cabinet reshuffle before February
A high-ranking Jordanian governmental source has ruled out any immediate cabinet reshuffle in Jordan, saying that such a reshuffling is likely to take place in February 1998. Jordan, Economics, 1/2/1998 - Amman Chamber of Industry to hold seminar on privatization
The seminar aims to study and evaluate experiments underway in Arab countries in order to highlight the importance of inter-Arab cooperation as part of full coordination among Arab economic policies to face the international coalitions. Regional, Economics, 1/2/1998 - More money to Palestinians on the way
Donor countries held a meeting recently in the French capital, Paris, during which they decided to offer $750 million in the form of loans and grants to the Palestinians in addition to $150 million in the form of guarantees to the private sector investment. Palestine, Economics, 1/2/1998 - Fares of the Suez Canal without change in 1998
The Suez Canal Authority (SCA) decided to keep the fares imposed on the ships passing through the canal at their previous levels during 1998. The SCA will also offer more facilities for crude oil tankers. Egypt, Business, 1/2/1998 - Aqaba airport for landing Israeli planes is proceeding well
A senior Jordanian official in al-Aqaba district said the experimental phase to use al-Aqaba airport for landing Israeli planes is proceeding well thus far. Jordan-Israel, Economics, 1/2/1998 - Jordan reduces its interest rates to invigorate economy
Some bankers said that the reduction of the JCB's interest rates will take 6 months for the banks to reduce their interest rates on savings and loans, which will surely invigorate the Jordanian economy. Jordan, Economics, 1/2/1998 - European companies to build Palestinian industrial complexes
Sources in the Siemens company stated that the company plans to participate in setting up a factory in the Palestinian industrial complex which will be established in Gaza. Palestine, Economics, 1/2/1998 - Differences between exporters delay establishment of Egyptian-Russian company
A member of the Egyptian Department of Exports stated that setting up two companies instead of one company is currently under study. Egypt, Economics, 1/2/1998 - UN Sanctions Committee ratifies Jordanian contracts to export necessities to Iraq
The UN Security Council Sanctions Committee agreed upon eight new contracts allowing Jordanian companies to export humanitarian goods to Iraq in accordance with oil-for-food deal, which came into effect in December 1996. Jordan-Iraq, Economics, 12/31/1997 - Jordan - Iraq oil agreement
"Iraq will provide Jordan with an increased amount of oil and oil products by 7% during 1998.Thus Jordan will import 4.8 million tons of Iraqi oil at reduced prices; It will pay US $16.18 per barrel," Jordan's Energy Minister said. Jordan-Iraq, Economics, 12/30/1997 - Korean group still bullish about Morocco
A source in the South Korean Daewoo Group said that the financial upheaval in Seoul is not affecting the group's activities abroad, especially their new projects in developing markets, on top of which is Morocco. Morocco, Business, 12/30/1997 - Europe helps Egypt remove land mines
Egyptian Foreign Minister Amr Moussa said the European Union has agreed to offer Egypt some US $1.7 million to help fund the process of removing land-mines planted in Egypt during previous wars. Egypt, Economics, 12/30/1997 - Iraq offered new reduced oil prices, Jordanian Energy Minister said
Jordanian Minister of Energy Mohammed al-Hourani denied that Jordan was looking for sources of oil other than Iraq. Following his negotiations with Iraqi officials al-Hourani stated that his talks resulted in the renewing of an oil protocol between the two countries. Jordan-Iraq, Economics, 12/29/1997 - $600 million Saudi loan to Lebanon
Lebanon has received a $600 million loan from Saudi Arabia meant to support the national currency and help Lebanon overcome its economic woes. Lebanon, Economics, 12/29/1997 - Golden Tulip invests in Tunisia for hotel management
The vice chairman of the GTIG, Bart Hall, said that the group will manage a tourist complex in Tunisia which will bear the name of the group for nine years. Tunisia, Business, 12/29/1997 - Egypt for Arab common market Egypt, Economics, 12/29/1997