Arabic News Weekly Edition for Economics, 1/26/1998
Weekly Edition, Economics - Week of January 26, 1998
- Gulf states wait and see as oil prices tumble
Gulf Arab oil producers have decided to wait and see whether the oil market will regain balance after being caught off guard by Asia's financial crisis and a sharp hike in OPEC's output ceiling. Gulf, Economics, 1/31/1998 - Tunisian tourism revenues are estimated at $2 billion in 2001
The Ministry's figures showed that the number of tourist nights spent in the Tunisian hotels will increase from 26 million last year to 36 million, while the occupancy rate in Tunisian hotels will increase from 48% to 51.5% within four years. Tunisia, Business, 1/31/1998 - Damascus to help Iraqi children; Egyptian medicines to Iraq
The Syrian Ministry of Economy issued a decision permitting economic relations with Iraq in all spheres, but only in accordance with UN resolutions. Regional, Economics, 1/30/1998 - Lebanese budget deficit 37% in 1998
Lebanese aggregate revenues which had been ratified by the Lebanese parliament reached $3.03 billion while the aggregate expenditures reached $4.8 billion, thus the budget deficit for 1998 was estimated at 37%. Lebanon, Economics, 1/30/1998 - Saudi Arabia bans asbestos
The Saudi Cabinet decided to ban the import of asbestos starting in 90 days. Factories and companies should stop using asbestos and get rid of any they have in 180 days, it said. Saudi Arabia, Business, 1/29/1998 - Meetings of Moroccan-Egyptian higher committee soon
The Egyptian-Moroccan Free Trade Zone Agreement (EMFTZA) is scheduled to be signed during the King's visit. Morocco-Egypt, Economics, 1/29/1998 - Turkey, India, Malaysia and Japan buy more Egyptian cotton
Turkey signed a contract through which it will buy 790 hundredweight of cotton which makes the total volume of cotton imported by Turkey during the new season reach 168,388 hundredweight. Egypt, Business, 1/29/1998 - Lebanese parliament approves 1998 budget
Opposition deputies have expressed serious doubt that the government would stick to its forecast figures. In 1997, the deficit of revenues against expenditures reached 59 percent, well over the forecast 36 percent. Lebanon, Economics, 1/28/1998 - The US General Motors Group will hold its annual conference in Morocco
The group intends to strengthen its presence in the Moroccan market though inaugurating its international branch "Delvi Automotives Systems." Morocco, Business, 1/28/1998 - An exhibition of Algerian products in Qatar
The Algerian ambassador in Qatar, Sherif Sherify, said Doha will start arrangements for holding its first exhibition of Algerian products. Algeria-Qatar, Economics, 1/28/1998 - Sudanese Central Bank warns banks against checks coming from Saudi Arabia Sudan-Saudi Arabia, Business, 1/28/1998
- Sudanese minister: Great investment projects between US and Egypt
Egypt and Sudan had planned for steps concerning privatization and free trade, there will be new means of cooperation through free trade exchange and joint investment projects in many fields, the most important of which are meat, agriculture and mineral resources. Sudan-Egypt, Economics, 1/28/1998 - Selling the Al Nile and San Stefano hotels in Egypt
The decision to sell the two hotels came at a time when the privatization plan for hotels became slow. The occupancy rate in some hotels declined to 10%. Egypt, Business, 1/28/1998 - Prestigious oil, gas show in March
Oman's oil and gas will come into the international spotlight as the sultanate hosts the prestigious "Oil and Gas West Asia" exhibition and conference from March 9 - 12. Oman, Economics, 1/27/1998 - Jordanian Senate approves budget Jordan, Economics, 1/26/1998