Arabic News Weekly Edition for Economics, 1/11/1999
Weekly Edition, Economics - Week of January 11, 1999
- Saudi Arabia: shortage in 1998 trade balance is 12 billion dollars
The trade balance sheet in Saudi Arabia recorded a shortage last year due to the reduction in income from petroleum and petrochemical exports, after having achieved a surplus for two years. Saudi Arabia, Economics, 1/16/1999 - Oman begins implementation of modern security laws and structure to protect investors
Starting today, the Capital Market Authority is to be separated from Muscat Stock Market. Oman, Economics, 1/16/1999 - Gulf states to insert petroleum in international trade agreement for tax purposes
The countries of the Gulf Cooperation Council confirmed that they are going to hold a new round of negotiations with the International Trade Organization (ITO) to include petroleum within the context of the organization's agreement dealing with goods and their trade on the international level Gulf, Economics, 1/16/1999 - $100 million in agreements between Tunisia, European Union this year
Tunisian sources told ArabicNews.com that during the current year Tunisia is going to endorse financial agreements with the European Union valued at $100 million Tunisia-European Union, Economics, 1/16/1999 - Study considers Arab fund to support technological research
The Arab Organization for Industrial Development and Mining is conducting a study that tackles establishing the first Arab fund for supporting technological development and research in the industrial sector. Regional, Economics, 1/16/1999 - Tunisia: 1998 foreign investments valued at $725 million
Tunisian formal sources confirmed that last year this attracted foreign investments amounting to $725 million in comparison to $400 million in 1997. Tunisia, Economics, 1/16/1999 - Germany to host a conference for the donor states
More than 40 donor states and organizations are to participate in a conference organized by the World Bank in Germany in February, to discuss the dedication of $3.3 billion for infrastructure projects in the West Bank and Gaza Strip through 2005. Palestine-International, Economics, 1/16/1999 - Bahrain exhibition center to expand Bahrain, Business, 1/16/1999
- US donation to Jordan amount to 100 million dollars Jordan-USA, Economics, 1/16/1999
- Sudan's central bank to deal in the euro
Sudanese official sources said that the central bank of Sudan has begun to specify daily prices for the euro in comparison to the Sudanese pound. Sudan, Economics, 1/16/1999 - 5 million Tunisian tourists during the current year
Tunisian formal statistics expected that the number of tourists in Tunisia during the current year would increase to 5 million and that tourist nights would increase to 32.5 million nights, an increase of 5%. Tunisia, Economics, 1/16/1999 - Saudi Arabia reduces petroleum exports to US, Europe
Saudi Arabia reduced its petroleum exports by varying amounts to the United States, Europe and Japan for February, while an expected urgent meeting the OPEC organization is to hold on February is still controversial. Saudi Arabia-Regional, Economics, 1/15/1999 - Egypt prepares to convene a regional economic conference of COMESA countries
Egyptian Assistant Foreign Minister for Economic Affairs and International Cooperation Dawlet Hassan'confirmed that the Foreign Ministry along with the international economic forum in Egypt are currently preparing to convene a regional economic conference comprising officials and businessmen from all COMESA countries during the current year. Egypt-Africa, Economics, 1/15/1999 - Part of Zakat alms will go to abandoned children, King Hassan II says
King Hassan II announced on Thursday that part of the Zakat alms will go to abandoned children to help them grow up in an atmosphere imbued by the moral values of the Moroccan Islamic society. Morocco, Economics, 1/15/1999 - Tunisia to increase share in IMF
The Tunisian Cabinet headed by President Zien El-Abdin Ali decided on a draft law to increase Tunisia's share in the International Monetary Fund to enable Tunisia to increase the possibility of available withdrawals from the fund to finance various projects. Tunisia, Economics, 1/15/1999 - Arab Organisation of Civil Aviation to meet in Morocco
The Executive Bureau of the Arab Organization of Civil Aviation will meet in Rabat next February 15 to look into the legal aspects of the Arab airlines' liberalization to be implemented gradually as of this year up to 2005. Regional, Business, 1/15/1999 - Moroccan government council adopts conventions signed with Russia, USA
The Moroccan government council adopted Thursday the conventions signed recently with Russia and the USA on non-double taxation and mutual investment protection. Morocco, Economics, 1/15/1999 - Symposium on effects of the euro on Egypt's economy at the end of January Egypt, Economics, 1/15/1999
- Rolls Royce negotiates to manage Port Said harbor
The British company Rolls Royce presented an offer to manage Port Said harbor for 25 years with the BOT system according to the conditions set forth by the Egyptian Ministry of Transportation, which received the offer. Egypt, Business, 1/14/1999 - Luxor: a favorite destination of world tourism hosts union of French tourism companies
Representatives of 800 French companies that work in tourism, hotels and organizing international trips are going to participate in this conference. Egypt, Economics, 1/14/1999 - 458 million pound for developing the project of Abu Tartour's phosphate
The Egyptian ministry of industry decided to develop the project of Abu Tarour's phosphate at an estimated cost of 458 million pounds and to convert it to an integrated industrial zone. Egypt, Business, 1/14/1999 - New oil fields discovered in Libya and Nigeria
New oil fields were discovered lately in Libya and Nigeria enhancing the two African countries' oil production and exploitation capacities. Libya, Economics, 1/14/1999 - German investments in Tunisia reach 5 billion dinars
A recent study released by the German - Tunisian trade and industry chamber said that German investments in Tunisia reached 5 billion dinars, making Tunisia Germany's largest partner in the North Africa area. Tunisia-Germany, Economics, 1/14/1999 - An industrial zone in the West Bank
The Palestinian authority decided to establish an industrial in the West Bank that provides between 7 to 10 thousand jobs. Palestine, Economics, 1/14/1999 - UN - Sudan Sudan-UN, Economics, 1/14/1999
- Central African countries to set up stock exchange
Central African countries are planning to set up a stock exchange to drain and enhance the inflow of foreign capital, bolster the region's trade exchanges and economic cooperation. Regional-Africa, Economics, 1/14/1999 - 7 percent increase in Tunisian exports Tunisia, Economics, 1/14/1999
- 10 billion pounds invested in Egyptian gold market
The World Gold Council expects that foreign investments of $1.5 billion wll enter Egypt in the current year in the field of manufacturing and designing gold product if the system of applying the sale tax on gold industry is changed. Egypt, Economics, 1/14/1999 - Moroccan chamber of advisors rejects privatization program extension
The Chamber of Advisors (upper house of the Moroccan bi-cameral parliament) on Tuesday turned down a draft law proposing a 1-year extension of the deadline for the completion of the privatization program until the end of 1999. Morocco, Economics, 1/13/1999 - Kuwaiti Emir urges his citizens toward austerity
Emir of Kuwait, Sheikh Jabir al-Ahmed al-Sabah urged the Kuwaiti people to austerity and handling economic problems to reach solutions to them. Kuwait, Economics, 1/13/1999 - Jordanian Parliament approves 1999 budget
The Jordanian parliament on Tuesday approved by a majority of 55 parliament members out of 80 the state's general budget for 1999, which is expected to have a deficit of US $340 million. Jordan, Economics, 1/13/1999 - Tunisian cereal crop is expected to increase
The source said that about 1.3 billion feddans of cereals were cultivated at the end of last December 98 and it is expected that this area will increase to 1.6 billions feddans at the end of this month. Tunisia, Economics, 1/13/1999 - Syrian-Italian companies sign tourism agreement
The Syrian al-Cham Hotel Company and the al-Cham Tourism Company have agreed with major Italian tourist companies to start weekly charter trips to Martyr Bassel al-Assad airport in Lattakia so as to transport Italian tourist groups to Syria. Syria, Business, 1/13/1999 - Casablanca port workers strike abnormal, minister says
The Moroccan equipment minister described as abnormal. The 12-day strike staged recently by the Casablanca port workers, saying the protest movement was conducted without prior notice. Morocco, Economics, 1/13/1999 - Iranian train convoys for Syria Syria-Iran, Economics, 1/13/1999
- UAE auto industry United Arab Emirates, Business, 1/12/1999
- Moroccan-Italian trade in favor of Rome
The balance of trade exchange between Italy and Morocco was in favor of the European country during the first half of 1998, the Arab-Italian trade chamber said. Morocco-Italy, Economics, 1/12/1999 - Syrian 1998 exports, imports via Tartous port Syria, Economics, 1/12/1999
- Syrian textile company to recruit 200 Egyptian experts Syria-Egypt, Economics, 1/11/1999
- European committee agrees on importing Egyptian potatoes Egypt-European Union, Economics, 1/11/1999
- Syrian, Swiss, French company to produce cotton, Jeans garments Syria, Business, 1/11/1999
- US - Egyptian discussions for supporting the economical cooperation
Egypt and the United States are preparing for a meeting on the level of senior economic officials to discuss enhancing bilateral cooperation in the framework of the Egyptian - American partnership initiative known as the Mubarak - Al Gore initiative. Egypt-USA, Economics, 1/11/1999 - Saudi bankers welcome merger with Gulf, Arab banks
the Saudi commercial Al-Ahli bank has welcomed merger with any Gulf or Arab bank as long as full harmony in future perceptions and planning is provided. Regional, Business, 1/11/1999 - Lebanese government discuss privatization of 52 companies
The Lebanese government chaired by Prime Minister Salim al-Hoss has set up a plan to privatize 52 governmental companies aimed at increasing the country's revenues through the privatization plan. Lebanon, Economics, 1/11/1999 - Morocco - Egypt business council meets next month in Casablanca
The Morocco-Egypt business council will hold its first annual session during the first week of next February in the Moroccan economic capital of Casablanca, Head of the Egyptian businessmen association, Said Taouil, announced. Morocco-Egypt, Economics, 1/11/1999 - Egypt to participate in the summit of the 15 countries group in Jamaica
Egypt will participate in the ninth summit for the Group of Fifteen developing countries, which will be held in Jamaica from February 10 - 12. Egypt-International, Economics, 1/11/1999 - Further Jordanian-Israeli economic cooperation
A Jordanian weekly reported that Jordanian and Israeli businessmen recently concluded talks on starting joint tourist and industrial projects in various areas of Jordan. Jordan-Israel, Economics, 1/11/1999 - COMESA countries in Cairo market Egypt, Economics, 1/11/1999
- New trade agreement between Egypt, Iraq at US $14 million Egypt-Iraq, Economics, 1/11/1999