Arabic News Weekly Edition for Economics, 6/15/1998
Weekly Edition, Economics - Week of June 15, 1998
- Egypt hopes to boost relations with Iran
Egyptian Foreign Minister Amr Moussa expressed hopes toward developing Egyptian - Iranian relations positively as soon as possible. He added the Egypt had received this week in Cairo a large Iranian economic delegation. Egypt-Regional, Economics, 6/20/1998 - Oil, wheat prices increase in Yemen causing riots
The government of Yemen on Thursday decided to increase the prices of gasoline, kerosene, and natural gas by up to 40% percent as of Friday, despite the fact that such increases had in the past caused fierce objections in streets. Yemen, Economics, 6/20/1998 - First Syrian-made Jeep car
A private Syrian company has displayed the first car made in Syria which the company intends to market locally and in Arab markets. The Jeep car is on display at Raam Factory near Damascus. It is equipped with a Japanese engine of 2,000 CC. It consumes one liter of gasoline per nine km and will be sold for US $7,000. Syria, Business, 6/20/1998 - U.N. council approves spare parts to repair Iraqi oil fields
The United Nations Security Council approved on Friday the delivery of spare parts to Iraq for the repair of its oil fields. In a unanimous decision, the council said the purchase of the equipment may be financed with the proceeds from humanitarian oil sales to up to $300 million. Iraq-UN, Economics, 6/20/1998 - Egypt to formally join African common market
Foreign minister Amr Moussa will head to Kinshasa, the capital of Congo, on Thursday to attend the fifth ministerial meeting of KOMISA countries. Egypt-KOMISA, Economics, 6/20/1998 - Lebanese partnership with European Union under talks
The secretary general of the Lebanese Foreign Ministry, Zafer El-Hassan, reviewed the obstacles facing the new partnership agreement between Lebanon and the European Union and methods of removing these obstacles. Lebanon-European Union, Economics, 6/20/1998 - European Union Extends Humanitarian Assistance to Palestine and Jordan Regional, Economics, 6/20/1998
- Subsidy cost is $330 million, benefit the wealthy
The subsidies to basic products in 1997-98 soaked 1 percent of the GDP with around USD 330 Million, from around $201 million in 1992. Morocco, Economics, 6/19/1998 - Economic report indicates deteriorated conditions in Libya, Iraq, Palestinian territories
total losses which hit all sectors of the Libyan economy since imposing sanctions until 1996 reached US $23.560 billion, of which some US $5.856 billion are losses borne by the sectors of economy and trade. Regional, Economics, 6/19/1998 - Arab conference in Cairo to support construction cooperation
The Egyptian Ministry of Housing, Utilities, Reconstruction, and New Communities in cooperation with the Arab League and the United Nation's centers for human settlements are organizing an Arab regional conference for construction cooperation. Regional, Economics, 6/19/1998 - King Hassan receives U.S. Under-Secretary of State
Youssoufi stressed the need to restart the follow-up mechanisms of the Moroccan-U.S trade and investment cooperation accords and to explore means of easing Moroccan goods access to the US market. Morocco, Economics, 6/18/1998 - Improvement in Iraqi - Egyptian relations
Iraqi Deputy Prime Minister Tariq Aziz confirmed that his country intends to increase the volume of its trade exchange with Egypt, saying that Iraq wants to develop economic and trade relations with Egypt and expressing his approval that the Iraqi market contains many Egyptian products. Iraq-Egypt, Economics, 6/18/1998 - Moroccan fishery experience dramatic loss
Morocco's sea resources are in constant depletion, and as a result Morocco slid from the world 1st fish-producing country to the 14th rank, said chairman of the Moroccan sea fisheries Federation, Abderrahim Laabidi. Morocco, Business, 6/18/1998 - Need to set up Arab free trade zones urged
Arab states' trade experts have called for quick action to establish free trade zones among Arab states, as a first step toward setting up an Arab economic bloc. Regional, Economics, 6/18/1998 - Japan reschedules Yemeni debts
Japan and Yemen signed an agreement for rescheduling Yemeni debts of 2.58 billion yen ($17.7 million). Yemen-Japan, Economics, 6/18/1998 - Abu Dhabi - hospital beds United Arab Emirates, Business, 6/18/1998
- Oman - port Oman, Economics, 6/18/1998
- World Bank lends Morocco $150 million for pension system
The World Bank and Morocco signed in Washington on Wednesday an agreement under which the WB grants Morocco a $150 million loan to support a project for the improvement of long-term savings and the pension system. Morocco-World Bank, Economics, 6/18/1998 - Cabinet council adopts draft finance bill
The Moroccan Cabinet council adopted on Wednesday the 1998-1999 draft finance bill that will be debated at the Parliament after it is adopted by the ministers' council. Morocco, Economics, 6/18/1998 - U.S. official in Morocco for economic talks, discussion on MENA conference
The initiative, Eizenstat explained at a press conference in Tunis, revolves around establishing a permanent dialogue at the highest level between the USA and the Maghreban countries, encouraging these countries to lift barriers to ensure a better flow of trade exchanges Regional, Economics, 6/17/1998 - Jordan and Morocco sign cooperation agreements
The agreements deal with encouragement of investments, road transport and tourism. The two prime ministers also signed protocols related to rules of origin, health, agriculture, administrative development, cooperatives, security, culture and preservation of historical monuments. Jordan-Morocco, Economics, 6/17/1998 - Egyptian - Iranian agreement on economic cooperation
Egypt and Iran signed the first protocol for developing economic relations and joint cooperation in trade and investment between the unions of industry in the two countries. Egypt-Iran, Economics, 6/17/1998 - Egyptian minister of economy to visit the U.S. today
Youssef Butros Ghali, the Egyptian minister of economy, announced that his visit to the U.S. will begin today. The visit comes within economic cooperation relations between the two countries that include participation, subsidies and other cooperation fields aimed at discussing methods of developing and increasing investments. Egypt-USA, Economics, 6/17/1998 - Cooperation agreements between Egypt, Belarus
President of Belarus Alexander Lukashenko on Tuesday concluded a two-day visit to Egypt during which several agreements were signed, including agreements covering air-freighting, higher education, trade, information, veterinary, agriculture and avoiding double-taxation. Egypt-Belarus, Economics, 6/17/1998 - Jordanian Airlines resumes air flight to Tehran Jordan-Iran, Economics, 6/17/1998
- Islamic bank approves new finances worth $172 million
The bank approved the financing of 10 development projects in 10 member countries and one technical assistance program for $105 million, and 2 trade financing operations worth $57 million in favor of 2 member countries Regional, Economics, 6/16/1998 - Establishing European - Egyptian trade chamber next September
It was agreed to establish an Egyptian - European trade chamber in September and an association for businessmen in Egypt and the European states in order to support investment and trade between the two sides. Egypt-European Union, Economics, 6/16/1998 - Oman signs exploration agreement with Occidental Oil and Gas
Oman granted an Omani branch of a US-based company a petroleum exploration and production agreement in a northern coastal area of 2,485 kilometers in the sultanate. Oman, Business, 6/16/1998 - Oman Air - smoking Oman, Business, 6/16/1998
- 7,400 Moroccan jobs created in past seven months
The jobs were created mainly in the textile, transports, hotel trade, metallurgy and electricity sectors thanks to the training-insertion program launched last year for the unemployed diploma-holders, the source added. Morocco, Economics, 6/16/1998 - Libyan - Moroccan high commission to meet during July Libya-Morocco, Economics, 6/16/1998
- EU delegation expected this week in Morocco for talks on fisheries
Morocco and the European Union are bound by a fishery agreement that will expire in 1999. Morocco had announced that it will not renew the agreement and will seek instead new forms of partnership with Europe, in a bid to protect its threatened sea resources. Morocco-European Union, Economics, 6/16/1998 - Iraq taking a channel on the Egyptian satellite Iraq-Egypt, Business, 6/16/1998
- Egyptian-Iranian relations discussed, investment agreement signed
Talks held between the first Iranian economic delegation to visit Egypt since 1979 stressed the need to purify relations between the two countries which may constitute "the Islamic world's two strong wings." Egypt-Iran, Economics, 6/16/1998 - Damascus hosts Arab industry minister meeting June 22-25
The eighth conference of Industrial Development in the Arab states will be held on June 22 - 25 at the Umayyad's Palace for conferences under the slogan "Arab industry under international development." Regional, Economics, 6/16/1998 - GCC oil ministers meet in Riyadh
The six GCC oil ministers will discuss the status of the world oil market, the recession in oil prices, and measures taken by certain oil exporting countries inside and outside OPEC to contain the instability in oil world markets Gulf, Economics, 6/15/1998 - Egyptian free zone projects a great success
The head of the organization, Ibrahim Fawzi, said that there are 491 investment companies in Port Said working according to the investment law, with capital valued by LE 2.6 billion ($764.4 million) and investment cost is LE 5 billion. Egypt, Business, 6/15/1998 - Amman hosts Arab symposium on trade and development
Deliberations of a symposium on trade and development in the Arab states organized by the Arab Union for Foodstuffs Industries started today in Amman. Regional, Economics, 6/15/1998 - Qatar - bond sales Qatar, Economics, 6/15/1998
- US to plan donor conference for Palestine Palestine-USA, Economics, 6/15/1998
- Iranian minister of petroleum will discuss decreasing OPEC's production
Iranian Minister of Petroleum Bijan Namdar-Zanganeh arrived in Doha coming from Kuwait on a tour related to the prices of petroleum in international markets. Gulf-Iran, Economics, 6/15/1998 - Morocco Postpones BNDE Bank Privatization
Morocco postponed the sale of state holdings of up to 33.34 percent in BNDE bank valued at $78.3 million because a tender was "not conclusive", a spokeswoman said on Sunday. Morocco, Business, 6/15/1998 - Moroccan prime minister bans private jobs for ministers
Moroccan Prime Minister Abderrahmane Youssoufi has banned government members from holding posts in the private sector while in public office. Morocco, Business, 6/15/1998