Arabic News Weekly Edition for Economics, 7/6/1998
Weekly Edition, Economics - Week of July 6, 1998
- Daewoo to build two new plants in Morocco
Morocco and Daewoo signed in Rabat on Friday a draft agreement under which the South Korean group will build two new production plants in the industrial compound of Nouaceur, near Casablanca. Morocco-South Korea, Business, 7/11/1998 - Sudanese transportation minister is visiting Cairo
Egyptian minister of transportation Metwalli Soliman received Sudanese transportation minister Al-Bino Akol where they discussed aspects of cooperation between the two states in the transportation field. Egypt-Sudan, Economics, 7/11/1998 - Palestine to launch its first satellite television channel Palestine, Business, 7/11/1998
- Fishing village dedicated shortly in Morocco
A fishing village, "Cala Iris", will be dedicated shortly in Beni Boufrah (northeastern Morocco) to benefit a community of over 10,000 persons. Morocco-Japan, Economics, 7/11/1998 - Moroccan carrier concludes accord with TWA
The Moroccan carrier Royal Air Maroc (RAM) concluded on Monday in Casablanca a partnership accord with Trans World Airlines (TWA) to develop air traffic between Morocco and the United States. Morocco, Business, 7/10/1998 - King Hassan announces 25,000 youths will be hired annually
In a speech he delivered on the occasion of Youth Day, celebrated this Thursday, to commemorate the 69th birthday of Morocco's King Hassan II, the king said a draft law on employment and youth integration was adopted by a recent ministers' council meeting and that the two houses of the parliament will study the text before the end of the current parliamentary session. Morocco, Economics, 7/10/1998 - UK determined to build solid relations with Syria
The British ambassador in Damascus, Basil Eastwood, stressed that negotiations on Syrian-European partnership agreements opened during the British presidency of the European Union will consolidate a technical framework for the partnership between Syria and the EU. Syria-UK, Economics, 7/10/1998 - Egypt expresses optimism toward winter tourism prospects
The Egyptian Ministry of Tourism said it is optimistic toward the possibility of increasing tourist traffic from Europe during the coming winter. Egypt, Business, 7/10/1998 - Barain - desalination plant Bahrain, Business, 7/10/1998
- Kuwait -production sharing Kuwait, Business, 7/10/1998
- Ericsson selected for Palestinian mobile phone system
Swedish telecommunications firm Ericsson was selected to serve the Palestinian cellular phone market, it was officially announced on Thursday. Palestine, Business, 7/10/1998 - Draft agreement for cooperation between Egypt and US
Egyptian Minister of Trade and Supply Ahmed Goweili discussed yesterday with US ambassador in Cairo Daniel Kurtzer the draft agreement for cooperation between the two countries in the fields of trade and investment, which will be raised before the coming meeting of the American - Egyptian presidential council. Egypt-USA, Economics, 7/10/1998 - Syrian President releases state's general budget for 1998
Total sums of the budget are estimated at 237.300 billion Syrian pounds (US $5.3 billion) distributed to 117.700 billion pounds as current general expenditures and 119.600 for investment projects. Syria, Economics, 7/10/1998 - 400 companies in first exhibition for Egyptian products in Iran
In implementation of the cooperation protocol recently signed between the Union of Egyptian Industries and its Iranian counterpart, an exhibition of Egyptian products in will be held in Tehran during October with the participation of 400 companies. Egypt-Iran, Business, 7/9/1998 - 48% increase in Egyptian free zones' exports to US markets
Ibrahim Fawzi, the head of the Egyptian general department for investment and free zones said that the exports from the free zones to the US market rose from $41 million during the first six months of last year to $60.6 million during the same period of the current year, an increase of 48%. Egypt-USA, Economics, 7/9/1998 - $156 million worth of Egyptian sales at Baghdad exhibition
The total amount of sales that took place in Baghdad's exhibition for Egyptian products reached $156 million. Egypt-Iraq, Business, 7/9/1998 - $4 billion shortage in new Kuwaiti budget
The Kuwaiti government is currently studying methods of confronting the anticipated shortage in the 1998 -1999 budget resulting from the reduction of petroleum prices. Kuwait, Economics, 7/9/1998 - Moroccan FM asks unions to respect previous agreements
Moroccan Foreign Minister Driss Basri called for finding mechanisms to implement the agreements signed between the previous government, unions and business owners. Morocco, Economics, 7/8/1998 - Tunisian insurance sector reaches $400 million
The volume of business in the Tunisian insurance sector rose to $400 million last year, up from $300 million in 1996. Statistics obtained by ArabicNews.com said that the volume of investment in the insurance companies increased to $450 million. Tunisia, Business, 7/8/1998 - Algeria denies reports that it is selling gas to Israel
The Algerian oil company Sonatrack denied reports that it is involved in negotiations with Israel to sell Algerian gas via an Australian company producing gas in Algeria. Algeria, Business, 7/8/1998 - Egypt reduces production of raw oil
The production of crude oil in Egypt fell during 1997 to about 41.3 million tons from 42.7 million tons in 1996. Egypt, Economics, 7/8/1998 - A challenge for Moroccan firms as a result of European association
The Morocco-European Union association accord will pose considerable competitiveness challenges to Moroccan enterprises, Morocco's Juncture Center (CMC) said. Morocco, Economics, 7/8/1998 - Iraq, Jordan sign oil cooperation agreement
Iraqi Oil Minister Amr Muhammad Rashid and Jordanian Energy Minister Muhammad Saleh al-Hourani on Monday in Baghdad signed an oil agreement that provides for the continued delivery of Iraqi oil to Jordan for the remainder of 1998. Iraq-Jordan, Economics, 7/7/1998 - Qatar - Spain gas Qatar-Spain, Business, 7/7/1998
- Iraq - Jordan pipeline Iraq-Jordan, Economics, 7/7/1998
- Oman - mobile phones Oman-Egypt-Germany, Business, 7/7/1998
- Qatar - telecommunications Qatar, Business, 7/7/1998
- Discussions between Mexico and Egypt for establishing free trade zone
Ahmed Goweili, the Egyptian minister of trade and supply, discussed with a Mexican parliamentary delegation currently visiting Cairo methods of increasing and developing Egyptian exports to Mexico and exchanging visits between businessmen from both countries. Egypt-Mexico, Economics, 7/7/1998 - US Aid chairman in Cairo confirms continued support for Egypt's economy
Richard Brown, the chairman of the US Aid organization in Egypt, confirmed during his visit to the projects funded by the organization in Asyut governerate, the continuation of US aid to help advance the Egyptian economy. Egypt-USA, Economics, 7/7/1998 - Iraq, Lebanon sign cooperation protocols Iraq-Lebanon, Economics, 7/7/1998
- Djibouti to get Irani oil
Djiboutian Foreign Minister Mohamed Moussa Chehem yesterday in Iran signed a memorandum of understanding on bilateral cooperation in political, economic, trade, commercial and industrial areas with Iran's Foreign Minister Kamal Kharazi. Djibouti-Iran, Economics, 7/7/1998 - UAE calls on Gulf Cooperation Council to prepare for united European currency
The United Arab Emirates called its fellow members of the Arab Gulf Cooperation Council to take the necessary procedures to confront the results of to the institution of the united European currency, the Euro, which will come into use on January 1, 1999. Gulf, Economics, 7/7/1998 - Egyptian petroleum production reduced by 20,000 barrels daily
Hamdi El-Banbi, the Egyptian minister of petroleum, said that Egypt has started to reduce its production of raw petroleum by 20,000 barrels daily, starting from the beginning of the current month and lasting until the end of June, for a total reduction of one million tons of petroleum annually. Egypt, Economics, 7/7/1998 - Algeria to privatize 1,000 corporations before year's end
Algerian Minister of Small and Medium-sized Industries Bougerra Soltani said that the government will begin privatizing 1,000 general corporations and selling their shares to workers within the coming months. Algeria, Economics, 7/6/1998 - Government-trade unions dialogue resumes
Dialogue between the government and trade unions resumed Sunday following a suspension due to the legislative elections of November 1997 and the transition period pending the appointment of a government. Morocco, Business, 7/6/1998 - Jordan and Saudi Arabia to liberalize bilateral trade
The establishment of a Jordanian-Saudi committee became ever more necessary as bilateral trade reached 250 million dinars ($353 million) last year and is expected to further rise this year. Jordan-Saudi Arabia, Economics, 7/6/1998 - Moroccan and South African firms win Hassan II invention prize
The prize was extended to the two firms on the occasion of the 4th edition of the Moroccan Invention Fair, currently held in Casablanca by the "Maroc de l'Invention" Association. Morocco, Business, 7/6/1998