Arabic News Weekly Edition for Economics, 11/23/1998
Weekly Edition, Economics - Week of November 23, 1998
- $430 million Syrian gas project
Elf Aquitaine and Conoco announced on Monday the signing of a gas project contract in eastern Syria's Deir ez Zor region. The two comapnies have equal interest in the $430 million project, and Elf Aquitaine press release said. Syria, Business, 11/28/1998 - Three Egyptian funds for insuring tourism, exports and dumping Egypt, Economics, 11/27/1998
- Emirates: One million participants in mobile phones by 2000 United Arab Emirates, Business, 11/27/1998
- Japanese aid to Yemen stands at US $66 million since beginning of this year
A Yemeni official source in Sanaa said on Thursday that Yemen, considered one of the poorest countries in the world, has received some 17 donations from Japan since December 1997, estimated at a value of US $66 million. Yemen-Japan, Economics, 11/27/1998 - Morocco and China to sign nuclear plant deal
Morocco intends to sign a deal with China for the construction of a nuclear plant to generate electricity Morocco-China, Economics, 11/27/1998 - Daewoo renews offer to buy Egyptian truck factory
The head of the Egyptian - South Korean Trade Department, Hossam Abu El-Fettouh, said that the Korean company Daewoo briefed the Egyptian government on its desire to pursue negotiations to buy a factory for manufacturing buses and trucks. Egypt, Business, 11/27/1998 - Morocco and Russia extend fishing accord
Morocco and Russia agreed Thursday to extend by one year the three-year fishing accord they signed in 1995. Morocco-Russia, Economics, 11/27/1998 - Establishing the first Omani company for registering bank notes
Sultan Qaboos Bin Said of Oman issued yesterday a decree establishing an Omani company called the Muscat Deposit and Securities Registration Company. Oman, Business, 11/27/1998 - Alarmed by drought specter, government summons commission
Morocco suffers from cyclical drought at an average of once every three years, a fact that severely affects its agriculture sector. The sector accounts for more than 20 percent of the Gross Domestic Product and employs half of the country's total workforce of 10 million. Morocco, Economics, 11/27/1998 - Palestinian industrial union established
Palestinian industrialists in the West Bank and Gaza Strip have decided to establish a union carrying the name of "General Union of Palestinian Industrialists." Palestine, Economics, 11/27/1998 - 750 million pounds bid to purchase Cairo Marriott Hotel
The Egyptian government received a proposal to purchase the Marriott Hotel, worth 750 million Egyptian pounds, from the United Arab Emirates company Life Renaissance, but the Egyptian Cabinet refused this proposal. Egypt, Business, 11/27/1998 - Morocco and Tunisia sign agriculture cooperation accord
Morocco and Tunisia in Rabat on Thursday to upgrade partnership in matters of agriculture and related sectors. Morocco-Tunisia, Economics, 11/27/1998 - Investcorp to sell Star Markets Bahrain-UK, Business, 11/27/1998
- Algeria urges summit of OAPEC countries Algeria-Regional, Economics, 11/26/1998
- Cairo conference for developing Arab tourism
Egyptian Minister of Tourism Mamdouh El-Beltagi will inaugurate on Saturday a conference on developing Arab tourism, organized by the Arab union for hotels. Regional-Egypt, Economics, 11/26/1998 - British trade delegation heads to Egypt
A large British delegation focused on trade with the Middle East is to arrive at Egypt on Saturday. Egypt-UK, Economics, 11/26/1998 - Saudi businessman buys 14% of Nigeria United Bank
Saudi Arabia's Prince al-Walid bin Talal purchased 14% of the shares of Nigeria's United Bank for the Saudi holding company, whose board of directors is headed by Prince Walid. Saudi Arabia-Nigeria, Business, 11/26/1998 - Morocco and Bulgaria to set up free trade zone
Morocco and Bulgaria signed Wednesday in Rabat a memorandum of understanding for the establishment of a free-trade zone between the two countries. Morocco-Bulgaria, Economics, 11/26/1998 - Postal and telecommunications workers will observe general strike next month
Moroccan postal and telecom workers will observe a one-day general strike next Dec. 18 to protest the deterioration of their financial situation. Morocco, Economics, 11/26/1998 - Greek Kapachim group to install in Morocco
Greek Detergent leading group Kapachim is planning to set up a $10 Million plant in Morocco. Morocco-Greece, Business, 11/26/1998 - Syrian transport minister inaugurates new railway for plant Syria, Economics, 11/26/1998
- Meguid calls for support to Arab - Mediterranean institute in Granada
Arab League Secretary-General Esmat Abdul Meguid on Wednesday sent a cable of congratulations to Saudi Foreign Minister Prince Saud al-Faisal concerning current Arab conditions. Regional-Saudi Arabia, Economics, 11/26/1998 - Syria, Algeria encourage mutual investment Algeria-Syria, Economics, 11/26/1998
- Moroccan minister expounds economic efforts, cuts applications processing time from days to hours
Oualalou recalled that the budget deficit was brought down to less than 3 percent and the inflation rate was curbed to 2.8 percent. He added that Morocco expects a growth rate of 6.7 percent in 1999 and of 6 percent in 2002-2003. Morocco, Economics, 11/25/1998 - French project to produce automobile engines in Ismalia Egypt, Business, 11/25/1998
- Forty Algerian workers have committed suicide after losing jobs
Spokeswoman for the Algerian Labor Party, Lweisa Hanoun, has asserted that some forty Algerian workers have committed suicide after they lost their jobs as a result of being fired or of the closure of factories. Algeria, Economics, 11/25/1998 - New financing facility for small and medium-sized Egyptian enterprises
Through the new financing agreements signed in Cairo on November 17, the European Investment Bank is providing up to 25 million ECU in risk capital facility to finance modernization and restructuring in private Egyptian undertakings. Egypt, Economics, 11/25/1998 - President Arafat meets Moroccan delegation in Gaza
Palestinian president, Yasser Arafat, received Tuesday in self-ruled Gaza members of the Moroccan delegation that arrived early Tuesday morning aboard a Moroccan airliner marking the official inauguration of the Gaza airport. Palestine-Morocco, Economics, 11/25/1998 - Joint Jordanian-Israeli statement on visits of Israeli foreign, trade ministers to Jordan
A joint statement was released in Amman on Tuesday at the conclusion of a visit made by the Israeli foreign affairs and commerce and industry ministers, Ariel Sharon and Natan Sheransky, respectively, to Amman and their talks with high-ranking Jordanian officials. Jordan-Israel, Economics, 11/25/1998 - Arab Labor Organization holds 50th session
The board of the Arab Labor Organization on Tuesday opened works of its 50th session with the participation of representatives and businessmen from a number of Arab states. Regional, Economics, 11/25/1998 - British enterprises interested by Morocco's privatization program
British enterprises are interested in the Moroccan privatization program and several of these enterprises will apply to purchase the Moroccan companies that will be privatized, said chairman of the British Overseas Trade Board, Martin Laing. Morocco-UK, Economics, 11/25/1998 - Turkey and Israel hold consultations to develop bilateral projects
The Bureau of the Arab Countries informed the chairman of the Arab League's general trusteeship that the Turkish side is consulting with Israel regarding expanding cooperation between the two sides to develop their current alliance. Turkey-Israel, Economics, 11/25/1998 - Batelco to provide Saudi Internet services Bahrain-Saudi Arabia, Business, 11/25/1998
- Egyptian minister of economy: Egypt is ready to attract foreign investments Egypt, Economics, 11/25/1998
- Gaza airport opens Palestine, Economics, 11/24/1998
- Morocco says Moroccan debt stands at $19.5 billion, not $23 billion
The Moroccan Finance Ministry said that Moroccan external debt stood at the end December 1997 at $19.5 billion. Morocco, Economics, 11/24/1998 - Iraq and Egypt to sign note of understanding
Iraqi Minister of Trade Mohammed Mahdi Saleh is to begin a four-day visit to Cairo on December 5, Saleh's fifth visit in two years, during which he will head his country's delegation to the meetings of the Iraqi-Egyptian joint committee. Egypt-Iraq, Economics, 11/24/1998 - Algerian energy minister in Saudi Arabia for oil talks
King Fahd Bin Abdul Aziz on Monday received a message from Algerian President Lilamine Zeroual, delivered by Algerian Minister of Mines and Energy Youcef al-Yousfi during his meeting with the Saudi king at al-Yamama palace in Riyadh. Saudi Arabia-Algeria, Economics, 11/24/1998 - Korean and Sudanese ministers in Muscat for trade talks
The Korean company for producing liquid natural gas owns 5% of the capital of its Omani counterpart, of which the government of Oman owns 51%. The company will resume activities by the end of the coming year and exportation processes in April, 2000. Oman-Sudan-South Korea, Economics, 11/24/1998 - Moroccan and French economic operators conclude three partnership conventions
Moroccan and French Economic operators concluded here on Monday three partnership conventions. Morocco-France, Economics, 11/24/1998 - Sharon in Jordan to strengthen trade
Israeli radio said the two sides discussed the agreement to establish a third joint industrial area in the Jordanian al-Mafriq district, means of exporting commodities produced in the joint industrial areas to other countries Jordan-Israel, Economics, 11/24/1998 - Eight Arab countries have applied free trade zone accord Regional-Egypt, Economics, 11/23/1998
- Syrian-Jordanian joint minutes of meeting on al-Wahda dam to be signed today
The Syrian - Jordanian joint committee on waters on Sunday continued meetings in Amman chaired by Syrian Deputy Irrigation Minister Barakat Hadid and the secretary-general of the Jordan Valley Authority, Dureid Mahasenah. Jordan-Syria, Economics, 11/23/1998 - Two Moroccan ministers in France to consolidate business ties
Two Moroccan ministers are currently visiting France in quest for closer cooperation between Moroccan and French small and medium enterprises. Morocco-France, Economics, 11/23/1998 - Yemeni approves work plan by the International Monetary
Yemeni Minister of Finance Alawi al-Salami said the economic reform program implemented by Yemen representing the polices of the government was submitted to and approved by the International Monetary Fund and World Bank. Yemen, Economics, 11/23/1998 - Saudi Arabia, South Korea for boosting trade relations
Saudi Minister of Trade Osama Jaafar Faqih on Sunday in Riyadh met with Southern Korea's minister of trade, industry and energy, Pak Tae-yong, currently visiting Saudi Arabia. Saudi Arabia-South Korea, Economics, 11/23/1998 - Establishing four private navigational companies in Egypt
The Egyptian Ministry of Maritime Transport agreed to renew four maritime companies affiliated to the private sector 10 months after liberating the sector of navigational authorization from governmental control. Egypt, Business, 11/23/1998 - French group to invest usd 380 million in Morocco
The French "Accor" group said it plans to invest a total of 3.5 billion dh in various tourism and leisure projects in Morocco. Morocco-France, Business, 11/23/1998 - Morocco wants sustained development to reduce unemployment Morocco, Economics, 11/23/1998
- Korean Daewoo company prepares to buy Egyptian textiles company Egypt-South Korea, Business, 11/23/1998
- 950 Algerian companies to be privatized Algeria, Economics, 11/23/1998
- Permanent exhibition for Sudanese products in Cairo Sudan-Egypt, Economics, 11/23/1998
- Privatizing a Tunisian navigation company Tunisia, Business, 11/23/1998
- European - Yemeni committee is to meet in Brussels Yemen-European Union, Economics, 11/23/1998
- Islamic Bank organizes two symposium in Damascus and Aleppo Syria, Economics, 11/23/1998