Arabic News Weekly Edition for Economics, 9/21/1998
Weekly Edition, Economics - Week of September 21, 1998
- Arab states and Turkey discussing trade obstacles and their effect on exports from Mediterranean countries Regional-Turkey, Economics, 9/26/1998
- Tunisia expects to benefit from new European currency, the Euro
Tunisia expressed its hope the Euro (the European United currency) - which is expected to come into being next January - could support and enhance its economy, where the volume of trade with European union is 75% of its total trade. Tunisia, Economics, 9/26/1998 - Growth rate in Tunisia is 5.3 percent
During the meeting with IMF delegation (International Monetary Fund) the Tunisian minister of economic development Tawfik Bakar stated that the the first two years of the 9th development plan (1997-2001) have been very positive and conforms to the planned targets, pointing out that the growth rate amounted to 5,3% and inflation was confined dues to the reasonable growth rate. Tunisia, Economics, 9/26/1998 - 23 Lebanese projects in the Egyptian free zones Egypt-Lebanon, Economics, 9/26/1998
- World Bank Grants Morocco $4 Million for Rural Project Morocco, Economics, 9/26/1998
- Companies in Doha stock market not affected by Asian crisis
The Doha stock market has grown this year, and the prices of shares of all companies registered in the market have risen, despite the international financial crisis and the recession in the local economy due to the decrease in petroleum prices. Qatar, Economics, 9/26/1998 - Beirut hosts fifth conference for upgrading trade, investment in Islamic countries
Lebanese Prime Minister Rafik Hariri is to inaugurate the fifth conference for upgrading trade and investment in Islamic countries on October 12. The three-day conference will be held in Beirut, and Egypt will take part with a delegation chaired by the head of the trade chamber, Mahmoud El-Arabi and a delegation comprised of 15 businessmen. Regional, Economics, 9/26/1998 - Yemen inaugurates Dahab petroleum field
Mohammed El-Khadem El-Wageh, the Yemeni minister of mineral treasures, is inaugurating tomorrow construction on the second stage of the Dahab petroleum field in Gena sector located between Yemen's pre-unity borders. Yemen, Economics, 9/26/1998 - Arab banking conference in Cairo
The Arab Academy for Banking and Financial Sciences located in Jordan is convening its eighth annual conference in Cairo from October 17 - 19 under the title: "Financing Investment in the Arab Nations." Regional, Economics, 9/26/1998 - EU to debate evolution of Morocco - EU fishery relations Morocco, Economics, 9/26/1998
- American aviation federation recognizes Moroccan carrier maintenance performance
Morocco's air company, Royal Air Maroc, has received a distinction from the American Aviation Federation for its maintenance performance. Morocco, Business, 9/26/1998 - Morocco calls for enhanced international cooperation in civil aviation
Head of the Moroccan delegation to the 32nd assembly of the International Civil Aviation Organization "ICAO," currently held in Montreal, has called for the consolidation of cooperation between the ICAO member countries in civil aviation safety and technical training. Morocco, Business, 9/26/1998 - Israel recognizes European - Palestinian economic agreement
An official Israel source said that Israel has principally decided for the first time to recognize the free trade agreement signed between the European Union and the Palestinians. Economics, 9/25/1998 - Syrian delegation visiting Iraq
A Syrian delegation that includes the head of the treaties department in the Foreign Ministry, Mohammed Said, arrived in Baghdad yesterday to coordinate the two countries' positions toward Turkey's water policy and its effect on Syria and Iraq. Syria-Iraq, Economics, 9/24/1998 - Privatizing 50 Tunisian companies in two years
A program for privatizing 50 economic corporations is currently arranged to be implemented in Tunis during the coming two years. Tunisia, Economics, 9/24/1998 - Egyptian - Sudanese setting for resuming work on Gongly Canal
Egyptian Minister of Irrigation Mohmoud Abu Zied confirmed today that Egypt and Sudan are currently working on joint projects to make use of the lost water from the Nile in southern Sudan, especially in Gongly Canal where the losses reach 70%. Egypt-Sudan, Economics, 9/24/1998 - Syria's tourist potential untapped says a Japanese study
In the context of the technical cooperation agreement between Syria and Japan, the final report on the development of tourism in Syria was completed by a JICA study team in cooperation with the Syrian Ministry of Tourism. Syria-Japan, Economics, 9/24/1998 - European Commission to visit Egypt to discuss potato crisis
During his meeting yesterday with members of an Arab - German trade group, Egyptian Minister of Trade and Supply Ahmed Goweili announced that Egypt will resort to the World Trade Organization to solve the dumping problems and surcharges raised against Egyptian exports to Europe if they are not be solved with the European committee. Egypt-European Union, Economics, 9/24/1998 - Qatar gas price increase Qatar, Business, 9/24/1998
- International civil aviation organization names conference hall Morocco
Moroccan Transportation Minister Mustafa Mansouri dedicated Wednesday in Montreal a Conference Hall bearing the name of Morocco at the headquarters of the International Civil Aviation Organization. Morocco, Economics, 9/24/1998 - Russian Aeroflot suspends flights to Morocco Morocco, Business, 9/24/1998
- Morocco and Cote D'Ivoire to boost trade exchange
Morocco and Cote D'Ivoire agreed Wednesday to intensify trade exchange and foster contacts between businessmen and the private sectors of the two countries. Morocco-Cote D'Ivoire, Economics, 9/24/1998 - Saudi - Egyptian company of 300 million dollar Egypt-Saudi Arabia, Business, 9/24/1998
- Cooperation between Egypt and Italy in craft projects
Egyptian Minister of Rural Development Mahmoud Sherif the announced today the beginning of implementing an agreement for joint cooperation between the Italian National Union for Craft Projects and the Egyptian Productive Cooperation Union. Egypt-Italy, Economics, 9/24/1998 - Kuwaiti loses half its petroleum income in this year
It is expected the Kuwait may lose half of its petroleum income in the current year because of falling prices, yet it will not borrow from the outside to cover the budget shortage. Kuwait, Economics, 9/23/1998 - Egyptian businessmen to meet with European ambassadors tomorrow on trade issues
Secretary-general of the Egyptian Businessmen Assembly, Taher El-Sherif, said today that Egyptian Minister of Trade and Supply Ahmed Goweili will hold a meeting tomorrow with the Egyptian Businessmen Assembly to discuss the obstacles facing Egyptian exports in international markets. Egypt-European Union, Economics, 9/23/1998 - Oasis Casino: gambling succeeds where peace fails
The drive from Jerusalem down to Jericho is not more than 25 minutes but it feels as if one is traveling to a totally different country. Palestine, Business, 9/23/1998 - Morocco and Cote D'Ivoire set up $7.5 million joint venture, other accords
Morocco and Cote D'Ivoire agreed Tuesday in Rabat to set up a $7.5 million joint venture to produce gas bottles in Abidjan. Morocco-Cote D'Ivoire, Business, 9/23/1998 - Lydec public utility firm to invest over $82 million in Moroccan water grid
Casablanca-based Lydec, a branch of French Lyonnaise des Eaux company, will invest over $82 million to upgrade water and power grids in Morocco's economic capital city, Casablanca. Morocco, Business, 9/23/1998 - Egypt could lose $200 million as a result of banned potato exports
The head of the agricultural committee in the general export department of the trade chambers' union, Osama Khir El-Din, warned today of the consequences of implementing the resolution of the European Union to prevent the export of Egyptian potatoes to European markets, saying that losses in the potato exporting sector would reach at least $200 million, in addition to putting 150,000 workers out of work. Egypt-European Union, Economics, 9/23/1998 - Bahrain - tourism Bahrain, Economics, 9/23/1998
- EU to send aid to Palestinian camps Jordan-Palestine-European Union, Economics, 9/23/1998
- Libya increases its oil production Libya, Economics, 9/23/1998
- Qatar to partially privatize Q-Tel Qatar, Business, 9/23/1998
- 53 million shares in Egyptian stock market owned by foreign investors
A recent report by the Egyptian financial market revealed that foreigners contribute to 110 companies are registered in the Egyptian stock market ,with 53 million shares, accounting for 6.6% of the total shares. Egypt, Economics, 9/23/1998 - Kuwait Airlines stops service to five countries
In a phone call, the deputy general manager for trade affairs at Kuwaiti Airlines Barak El-Sobieh told ArabicNews.com that Kuwaiti Airlines will stop today its trips to five countries -- Tunisia, Greece, Morocco, Germany and Denmark -- beginning on October 1. Kuwait, Economics, 9/23/1998 - King instructs government to find jobs for doctors, engineers who staged sit in Morocco, Economics, 9/23/1998
- Bahrain port won regional second prize Bahrain, Economics, 9/23/1998
- Saudi Arabia adheres to boycott of Israel, no products thru 3rd parties
Al-Jureisi added that the boycott of Israeli products in Saudi Arabia is a known matter because the Saudi decision to boycott Israeli products falls in the context of the AL decisions on boycotting Israel Saudi Arabia, Economics, 9/22/1998 - France will help Morocco with debt problem
France is aware of the burden of debt on Morocco's development and is willing to help Morocco "as best as possible," said French foreign minister, Hubert Vedrine. Morocco, Economics, 9/22/1998 - Egyptian - European committee to meet to settle potato export problem
A symposium on exporting the Egyptian potato crop to Europe and on the problems facing the export process and the suggested solutions was held yesterday at Egyptian Foreign Ministry headquarters, chaired by the Egyptian assistant foreign minister and head of the Egyptian - European participation unit at the Foreign Ministry, Gamal Bayoumi. Egypt-European Union, Economics, 9/22/1998 - OIC assists Muslim flood victims Regional, Economics, 9/22/1998
- Morocco's exports increase by 8.4 percent
Morocco's exports (free on board, see definition at bottom) posted a 8.4 percent between April 1997, where they were estimated at 13.2 Billion dh ($1.38 bln), and April 1998 where they reached 14.11 Bln Dh ($1.5 bln). Morocco, Economics, 9/22/1998 - Starting the meetings of the board directors for the Seoudi industrial and trade chamber Saudi Arabia, Business, 9/22/1998
- Ministers of energy in Mediterranean area to meet next week
The ministers of energy in the Mediterranean states will hold a meeting the coming week in Milan, Italy to discuss economic and technical studies for the electric link project between the Mediterranean countries. Regional-Egypt, Economics, 9/22/1998 - Removing all custom barriers between Lebanon and Kuwait by 2001
Kuwaiti Minister of Trade and Industry Abdul Aziz al-Dakhil confirmed his country's intention to benefit from Lebanese development efforts. Kuwait-Lebanon, Economics, 9/21/1998 - Morocco's upper house endorses appropriations bill
The bill, which was unanimously adopted last July by the House of Representatives (lower house), projects maintaining the budget deficit at 3 percent of the Gross Domestic Product (GDP). Morocco, Economics, 9/21/1998 - IDB extends Tunisia $20 million loan
The Islamic Development Bank granted Saturday $20 million dollars in loans for two Tunisian industrial entities to finance the import of raw materials. Tunisia, Economics, 9/21/1998 - Tangiers to have leading role in Morocco's openness to international arena
Moroccan Prime Minster Abderrahmane Youssoufi said the government's development strategy seeks to give the northern town of Tangiers the leading role in the country's openness onto its international arena. Morocco, Economics, 9/21/1998 - Egypt participates in exhibition of the Arab industries in Abu Dhabi
Egypt is participating in the exhibition of the Arab industries in Abu Dhabi from October 25 - 28. United Arab Emirates-Regional, Business, 9/21/1998 - El-Beltagi expects 16 million tourists in 2017
Egyptian Minister of Tourism Mamdouh El-Beltagi expected that by the year 2017 the number of projected tourists to Egypt will reach 16 million and the number of tourist nights will increase to 13 million due to a raise in the average tourists' stay from 6.5 nights to 8 nights each. Egypt, Economics, 9/21/1998 - Iraqi trade center opened in Damascus, trade reaches $150 million
Syrian Minister of Economy and Foreign Trade Muhammad al-Imadi on Sunday opened the Iraqi trade center at the Damascus International Fair. The ceremony was attended by an Iraqi delegation in addition to a high-ranking Syrian delegation. Iraq-Syria, Economics, 9/21/1998