Arabic News Weekly Edition for Economics, 6/22/1998
Weekly Edition, Economics - Week of June 22, 1998
- U.S. waits for response from North African states on ministerial meeting
The U.S.A is currently waiting for a response from three North African countries, Morocco, Algeria and Tunisia, concerning the possibility of holding an autumn ministerial meeting in Washington to discuss the details of establishing a developed economic partnership with these countries as a preliminary step to establishing a free trade zone. Maghreb-USA, Economics, 6/27/1998 - World Bank to lend Algeria $150 million for housing project Algeria-World Bank, Economics, 6/27/1998
- Lebanese - Egyptian businessmen's association to establish a joint bank
The head of the Lebanese - Egyptian businessmen's association, Badran Kamel, said the association intends to establish a joint bank, named Lebanon - Egypt United Bank with a primary capital of $30 million, adding that in December the bank's capital will be presented to businessmen and investors in the two countries for participation. Egypt-Lebanon, Business, 6/27/1998 - Arab employees in UNRWA demand salary increase Regional, Economics, 6/27/1998
- A message from Eritrea President to President al-Assad Syria-Eritrea, Economics, 6/27/1998
- Egypt's trade should rise with COMESA membership
Diplomatic sources in the Egyptian Foreign Ministry stated that Egypt's membership in the assembly of the southern and eastern African countries, known as the COMESA (Komisa) assembly, will help support commercial and investment relations between Egypt and the assembly's 19 member states Egypt, Economics, 6/27/1998 - Egyptian foreign minister approves of visit by Spanish prime minister
Moussa said that there are continued communications between the two countries on all economic, political and cultural levels. Egypt-Spain, Economics, 6/27/1998 - Morocco will be endowed with a modern customs code
Morocco will be endowed shortly with a modern customs code meeting the expectations of businessmen and exporters, Moroccan Finance Minister Fathallah Oualalou said. Morocco, Economics, 6/26/1998 - Egyptian minister of international cooperation signs agreement with Slovenia
El-Beshri will sign with his Slovenian counterpart two agreements over scientific and economic cooperation as well as protecting joint investments. Egypt-Slovenia, Economics, 6/25/1998 - Oman - fishing harbor Oman, Economics, 6/25/1998
- UAE - fish exports United Arab Emirates, Business, 6/25/1998
- Kuwait - budget Kuwait, Economics, 6/25/1998
- Lebanon - pay scale Lebanon, Economics, 6/25/1998
- Agreements providing for protection of investments signed Lebanon-Tunisia, Economics, 6/25/1998
- Increasing trade between Egyptian and France to $930 million Egypt-France, Economics, 6/24/1998
- Bahrain - Arab common market Bahrain-Regional, Economics, 6/24/1998
- Dubai - trade United Arab Emirates, Economics, 6/24/1998
- Moroccan economic indicators meet Maastricht criteria
French bank Parisbas lauded the Moroccan budgetary and monetary policies, enforced at the end of the structural adjustment in 1993, and said the indicators posted in 1997 meet the "Maastricht criteria": inflation maintained at 1 percent and public deficit nearing 3 percent of the GDP. Morocco, Economics, 6/24/1998 - Qatar and Algeria agree upon a wide cooperation program
Qatar and Algeria agreed upon a wide program for trade and economic cooperation. Algeria-Qatar, Business, 6/24/1998 - Syria signs two agreements with Arab fund
Two loan agreements for the general power generating and transforming establishment and the Ministry of Agriculture were signed on Tuesday between Syria and the Arab Fund for Economic and Social Development. Syria-Kuwait, Economics, 6/24/1998 - Morocco's oil refiners to merge in 1999
Morocco's main oil refiner Samir is expected to merge with refinery Societe Cherifienne des Petroles (SCP) in the beginning of 1999, a senior manager said on Tuesday. Morocco, Business, 6/24/1998 - Oman signs petroleum agreement with the American company Amoco
The Omani minister of Petroleum and Gas Mohammed Ben Hamd El-Ramhy signed a new privilege agreement for petroleum with the US company Amoco, the third exploration agreement this month after signing agreements with the companies Triton and Occidental. Oman, Business, 6/24/1998 - Negotiations between Egypt and Iraq for reconstructing electricity stations
Egyptian - Iraqi relations will be under discussion in fields of industry and electricity during the coming month. Egypt-Iraq, Economics, 6/24/1998 - EU - Oman information center Oman-European Union, Economics, 6/24/1998
- GCC - banking Gulf-Saudi Arabia, Business, 6/24/1998
- Qatar gas recycling Qatar, Business, 6/24/1998
- Opec meeting Regional-OPEC, Economics, 6/24/1998
- Fisheries agreement with E.U. will not be renewed
Moroccan minister in charge of fisheries said Tuesday he informed a EU delegation which visited Morocco last week that the fisheries agreement which expires in 1999 will not be renewed. Morocco, Business, 6/24/1998 - Arab Islamic Bank intends to open branches in Palestine in the next year
The international Arab Islamic Bank said that it is about open branches in Palestine during the next year to present its services to economic development operations. Palestine, Business, 6/24/1998 - Syria inaugurates Zyzon power station today Syria, Economics, 6/24/1998
- French microelectronics firm to invest $400 million in Morocco
Thomson, which has already a plant in Casablanca that makes microelectronics products for export, recently announced plans to create its own back-end unit in Morocco for an investment of $12.3 million. Morocco, Business, 6/23/1998 - Iraq accuses Turkey of the procrastination concerning Euphrates water
Iraqi Minister of Irrigation Mohamoud Deyab El-Ahmed said, "Negotiations are continuing between Iraq and Syria concerning use of the water of the Euphrates river," which passes through Turkey and then to Syria and Iraq. Iraq-Turkey, Economics, 6/23/1998 - Morocco's ministers council adopts 1998/99 appropriation bill
The Moroccan ministers council, presided by King Hassan II, on Monday adopted the 1998/99 appropriation bill, which will be presented to parliament. Morocco, Economics, 6/23/1998 - Arab ministers open industrial development meeting in Damascus
The eighth conference for industrial development in the Arab countries was opened in Damascus on Monday. In an inaugural speech, Syrian Prime Minister Mahmoud al-Zou'bi underlined the importance of achieving Arab industrial integration, which he said is part and parcel of Arab economic integrity. Regional, Economics, 6/23/1998 - Syrian, Tunisian FMs review recent developments, sign double taxation agreement
A round of official talks was held on Monday in Damascus between the Syrian and Tunisian delegations chaired by Syrian Foreign Minister Farouk al-Sharaa and the Tunisian Minister of Foreign Affairs Saeed Bin Mustafa. Syria-Tunisia, Economics, 6/23/1998 - Oman report earnings are down Oman, Economics, 6/23/1998
- Head of the Arab Monetary Fund: We have an active role in Arab trade
The head of Arab Monetary Fund Gassem El-Manaay confirmed that the fund is playing an active role in Cairo, where the fund is financing trade between Egypt and other Arab states. Regional-Egypt, Economics, 6/22/1998 - Five-year plan to develop Palestinian hospitals
The Palestinian government has prepared a five-year plan to improve all hospitals in its areas at an estimated cost of US $ 250 million. Palestinian Minister of Health Dr. Riyadh Za'noun said that a sum of US $150 million is needed to improve the buildings themselves while the remaining $100 million will go for acquiring new equipment. Palestine, Economics, 6/22/1998 - Germany to finance Moroccan water and decentralization projects
The German state cooperation bank "KFW" will finance for 63 million DM (around $35 million) projects for drinking water supply and consolidation of decentralization in Morocco. Morocco-Germany, Economics, 6/22/1998 - Turkish minister of energy discuss import of Egyptian gas
Turkish Minister of Energy Cumhur Ersumer met today with Egyptian Minister of Petroleum Hamdi El-Banbi to discuss project exporting Egyptian gas to Ankara according to the principals of an agreement signed by the two sides in November, 1996. Egypt-Turkey, Business, 6/22/1998 - Damascus hosts Arab industrial development conference today
It is organized by the Arab Organization for Industrial Development, and the Syrian Ministry of Industry, with the themes being "Arab industry under international changes." Regional, Economics, 6/22/1998 - UAE - Guniea mining agreement United Arab Emirates-Guinea, Economics, 6/22/1998