Arabic News Weekly Edition for Economics, 10/12/1998
Weekly Edition, Economics - Week of October 12, 1998
- South African businessmen discuss increasing trade with Egypt
Bruce Colowani, the commercial attache for south Africa's embassy in Egypt, said that a delegation of businessmen from South Africa will hold important commercial discussions in Cairo during the period from October 26 - 28. Egypt-South Africa, Business, 10/17/1998 - Morocco and Saudi Arabia plan to conclude new trade and tariffs agreement
Moroccan Minister of Industry, Trade and Handicraft Alami Tazi reviewed in Rabat with Saudi ambassador in Morocco, Majed Kabbani, means to consolidate bilateral cooperation, mainly the conclusion of a new trade and tariffs trade. Morocco-Saudi Arabia, Economics, 10/17/1998 - Morocco is looking for new formulas for fishery partnership
Moroccan Foreign Minister Abdellatif Filali said Morocco is looking for new formulas for cooperation in fisheries with Spain and other interested circles. Morocco, Economics, 10/17/1998 - Commercial relations between Egypt and Algeria developing
The joint statement from the meetings of the Algerian - Egyptian joint committee was signed yesterday under the chairmanship of Egyptian Minister of Trade and Supply Ahmed Goweili and his Algerian counterpart, Belaid Bekhti. Egypt-Algeria, Economics, 10/17/1998 - US leading businessman says Morocco is a strong ally in peace and business
US leading businessman, Lester Pollack, stressed that interest in Morocco is growing both among business people and people in the government of the USA. Morocco-USA, Business, 10/17/1998 - One million Egyptian peasants to cultivate Libyan lands
In press declarations today, the coordinator of youth foreign relations for the revolution committee's movement, Rafea El-Madani, said that Libyan Leader Moammar Gaddafi announced Libya's great need for one million Egyptian peasants to cultivate and possess Libyan lands on the "Great Man Made River." Egypt-Libya, Economics, 10/17/1998 - Establishing three electrical stations in Sinai Egypt, Business, 10/17/1998
- Moroccan minister and international institute meet over quality control
Moroccan Minister of Industry, Trade and Handicraft Alami Tazi reviewed here Friday with a delegation of the Interterk Testing Service (ITS) partnership projects in quality control. Morocco, Business, 10/17/1998 - Morocco expects tourists to exceed 2 millions this year
Morocco is expecting to exceed 2 million tourists this year and is poised to regain its share of the British tourism market, since in the first eight months of this year, 76,000 British tourists visited Morocco, said a Moroccan executive. Morocco-UK, Economics, 10/17/1998 - Suez Canal's income decreases Egypt, Economics, 10/17/1998
- US commercial delegation visits Riyadh Saudi Arabia-USA, Business, 10/17/1998
- Real estate bonds worth LE 150 million issued by Egyptian Arab Bank Egypt, Business, 10/17/1998
- Egyptian National Bank's profits are LE 300 million
The profits of the Egyptian National Bank reached LE 300 million, an increase of 50% over last year. The total deposits recorded an increase of LE 2.4 billion to reach LE 46.5 billion. Egypt, Business, 10/16/1998 - Japan and Syrian, Middle East economic relations
Japan's exports to the Middle East were worth about US $14 billion, which shows an increase of over 26% compared to the figures from 1996. " This increase was mainly due to the yen's appreciation and the decline of oil prices," he said, adding, "The share of Japanese exports to the Middle East was a little more than 3%" of total Japanese exports. Syria-Japan, Economics, 10/16/1998 - COMESA symposium coming in Egypt
Egypt's assistant foreign minister for African affairs, Ibrahim Hassan, said yesterday that Egyptian Foreign Minister Amr Moussa is going to organize a symposium on "Egypt and the COMESA: New horizons for trade and investment." Egypt, Economics, 10/16/1998 - Morocco's phosphate exports reach $1.5 billion in 1997
Morocco's phosphate exports increased by 10.5 percent in 1997 over 1996, allowing the north African nation to become again the world leader in the industry, ahead of the United States, whose exports dropped by 8.9 percent. Morocco, Economics, 10/16/1998 - BMW Middle East recall Regional, Business, 10/16/1998
- Morocco and Thailand agree to foster air transport cooperation
Morocco and Thailand agreed to foster cooperation in matters of air transport under an accord concluded in Rabat on Friday. Morocco-Thailand, Business, 10/16/1998 - German group to administrate first five-star hotel in Ajman
The German Kempinski Group started yesterday in administrating its first hotel in the Middle East. Rito Wittwer, the head of Kempinski group said in press declarations that his group will also inaugurate three other projects in the United Arab Emirates. United Arab Emirates, Business, 10/16/1998 - $20 million dollars from Egyptian banks for COMESA countries Egypt, Economics, 10/16/1998
- Gulf Air schedules daily flights to Amsterdam United Arab Emirates, Business, 10/16/1998
- LE 450 million for tourist project in El-Natron valley
The Egyptian Cabinet agreed yesterday on the tourists project "Nabe El-Hamra" in El-Natron valley in El-Buhayrah governerate, 90 kilometers away from Cairo, with investments worth LE 450 million. Egypt, Economics, 10/16/1998 - Exporting 400 thousand tons of Egyptian rice this year Egypt, Economics, 10/16/1998
- Moroccan premier ends Hungary visit with trade agreements signed
Morocco's "BMCE" bank and Eximbank, a Hungarian state bank, also signed an accord for the opening of a $ 25 million-worth credit line to finance trade between the two countries. Morocco-Hungary, Economics, 10/15/1998 - Iraq replaces Aqaba with Syrian, Dubai ports for its imports
Chairman of the Jordanian al-Na'ouri companies has said that Syria has offered facilities in using the Syrian ports for shipping Iraq commodities, a matter which has caused the Jordanian Aqaba port the loss of a great share of Iraqi commodities after being the western gate of Iraq to the world since the 1970s. Jordan, Economics, 10/15/1998 - 60 Egyptian companies take part in Baghdad international fair
The manager of Egyptian trade center in Baghdad, Awni Hasem, said that 60 Egyptian companies are to take part in the international fair of Baghdad, beginning on November 1. Egypt-Iraq, Economics, 10/15/1998 - Egyptian minister of trade visits Algeria today
Egyptian Minister of Trade and Supply Ahmed Goweili will start a three-day visit to Algeria today in which he will discuss with Algerian officials the establishment of a free trade zone between the two countries and the methods capable of encouraging trade movement them. Egypt-Algeria, Economics, 10/15/1998 - Iran, Tunisia discuss bilateral relations
Iranian Minister of Labor Hussein Kamali on Wednesday in Tehran discussed with the Tunisian Minister of Social Affairs Shazli Nafani in the areas of technical and vocational education and qualification courses for workers. Tunisia-Iran, Economics, 10/15/1998 - Tunisia imports 170,300 tons of sugar
Statements released by the Tunisian minister of agriculture confirmed that Tunisia imported 170,300 tons of sugar valued at 64.2 million dinars ($60.1 million) during the first seven months of the current year. Tunisia, Business, 10/15/1998 - German businessmen in Morocco Morocco-Germany, Business, 10/15/1998
- Morocco and Benin to step up cooperation in leather industries
Morocco counts about 270 leather processing units employing 15,000 persons. In 1997, they produced about $300 million worth of shoes that were exported mostly to European union countries. Morocco-Benin, Business, 10/15/1998 - Tunisian budget at $8.8 billion in the coming year Tunisia, Economics, 10/15/1998
- Moroccan Businessmen in Abidjan in November
A delegation of Moroccan businessmen is to pay a visit to the Ivory Coast (Cote d'Ivoire) next November for talks with local peers on means to upgrade cooperation and partnership in the frame of the new trade and tariff convention concluded by the countries. Morocco-Cote D'Ivoire, Business, 10/15/1998 - Moroccan businessmen called to invest in Egypt
Chairman of the Egyptian investment and free trade body, Brahim Faouzi, called on Moroccan business to enhance investments in his country. Egypt-Morocco, Business, 10/15/1998 - Real estate and hotels bank posts net profit of $ 15.4 million
Moroccan real estate credit bank "CIH" says it posted in 1997 a net profit of 141.9 million DH ($ 15.4 Mln) and disbursed four billion dh ($ 434.7 Mln) for the building of 27,648 houses and purchase of 4,953 land plots. Morocco, Business, 10/15/1998 - Forming Egyptian - Indian works council
The first Egyptian - Indian joint works' council is to be formed to serve businessmen and advance trade movement between the two countries. Egypt-India, Economics, 10/15/1998 - EU ambassador denies embargo on Egyptian potatoes Egypt-European Union, Economics, 10/15/1998
- Jordanian minister of energy to visit Baghdad soon
Sources in the Iraqi Ministry of Energy and Mineral Wealth said today that Jordanian Minister of Energy Hani Mulki will visit Baghdad soon to head the meetings of the Iraqi - Jordanian joint committee that will be held soon in the Iraqi capital. Iraq-Jordan, Economics, 10/14/1998 - Spanish businessmen in Morocco next week Morocco, Business, 10/14/1998
- Kuwait to head Gulf Cooperation Council committee meetings tomorrow Gulf-Kuwait, Economics, 10/14/1998
- Italian company to supply Egyptian natural gas to Palestine
Italian Hydrocarbons Holding "ENI" and the Palestinian government signed Monday in the west bank town of Ramallah a long-term agreement under which the Italian holding will supply the Palestinian autonomous territories with natural gas. Palestine-Egypt-Italy, Business, 10/13/1998 - Egyptian - Iranian commercial discussions
A delegation from the Egyptian company for guaranteeing exports to Tehran is heading soon to finally agree with three Iranian banks on cooperation in the field of guaranteeing Egyptian exports to Tehran. Egypt-Iran, Economics, 10/13/1998 - Kempinski hotel opens in Ajman United Arab Emirates, Business, 10/13/1998
- Iran companies look into Saudi construction Saudi Arabia-Iran, Economics, 10/13/1998
- Oman - amusement park Oman, Business, 10/13/1998
- Living cost index up 3.1 percent during first eight months Morocco, Economics, 10/13/1998
- US companies renew investments in Lebanon Lebanon-USA, Economics, 10/13/1998
- Egyptian minister of supply heads to Algeria tomorrow
Egyptian Minister of Supply Ahmed Goweili is heading tomorrow a delegation of businessmen to Algeria, where he will meet with Algerian Minister of Supply Belaid Bakhti. Egypt-Algeria, Economics, 10/13/1998 - Egyptian exports to Lebanon worth $16.3 million Egypt-Lebanon, Economics, 10/13/1998
- Spanish - Egyptian agreement for drilling petroleum Egypt, Business, 10/13/1998
- Meeting of Iraqi - Egyptian committee coming in November Egypt-Iraq, Economics, 10/13/1998
- A new oil field in the neutral area between Kuwait and Saudi Arabia
An official in the Saudi Texaco company has announce that a new oil field was discovered in the neutral area between Saudi Arabia and Kuwait. Gulf-Kuwait, Business, 10/12/1998 - Trade exchange between Maghreb and Gulf states increases by 7.8 percent
The volume of trade exchange between the member countries of the Arab Maghreb Union (UMA) and of the Gulf Cooperation Council (GCC) went up from $312 million in 1987 to $663 million in 1996, recording an average annual increase of 7.8 percent. Regional-Tunisia, Economics, 10/12/1998 - Egyptian minister of trade to visit Algeria
Officials sources in the Egyptian ministry of trade said today that Egyptian Minister of Trade and Supply Ahmed Goweili will begin a three-day visit to Algeria on Wednesday. Egypt-Algeria, Economics, 10/12/1998 - Governmental appointments halted in Yemen
The Yemeni government issued a decision to halt procedures for employment and promotion in the state. Yemen, Economics, 10/12/1998 - OPEC's head calls on non-member states to reduce production
The current head of OPEC the United Arab Emirates' petroleum minister, Ebid Ben Sief El-Naseri called on non-member states in the organization to reduce their production of petroleum in order to raise the prices of petroleum. Regional-United Arab Emirates, Economics, 10/12/1998 - Tender for Casablanca subway construction to be launched shortly
A tender for the construction of the Casablanca subway will be launched shortly, announced Moroccan minister of state, minister of the interior, Driss Basri. Morocco, Business, 10/12/1998 - One billion pounds for upgrading Sinai water
The construction department Sinai has finished a number of water projects at a cost of LE 1.75 billion. Egypt, Economics, 10/12/1998 - Batelco to upgrade customer service Bahrain, Business, 10/12/1998
- 7th Islamic Trade Fair opens in Lebanon
The 7th Islamic trade fair opened this Monday morning in Tripoli, northern Lebanon, with the participation of more than 600 exhibitors from 28 Islamic countries. Regional-Lebanon, Business, 10/12/1998 - Morocco's candidate for WTO chairmanship calls for rotating leadership
The Moroccan candidate for the World Trade Organization (WTO) Chairmanship called lately for rotation in WTO leadership. Morocco, Economics, 10/12/1998 - A conference for the Greek and the Egyptian businessmen at the end of October Egypt-Greece, Business, 10/12/1998