Arabic News Weekly Edition for Economics, 2/22/1999
Weekly Edition, Economics - Week of February 22, 1999
- Jordan renews trade protocol with Iraq
Jordan and Iraq today renewed a trade protocol for 1999, but with a reduction of one fifth of its value from the figures of 1998 to US $200 million due to the international reduction in oil prices. Jordan-Iraq, Economics, 2/27/1999 - Arab labor ministers to address large unemployment problem at March meeting
Arab ministers of labor, governmental representatives, businessmen and workers in the Arab countries will discuss during the Arab work conference to be held in Cairo on March 16 the opportunities for cooperation among them to confront unemployment. Regional, Economics, 2/27/1999 - Egypt succeeds in increasing orange exports by 25 percent
In what seems like a text book example for how to increase exports of commodities, Egypt has managed to increase exports of one product by maintaining its shares of exports in traditional markets while finding exploring for new markets for these commodities. Egypt, Economics, 2/27/1999 - Cyprus, Egypt target 20 percent annual increase in trade
The Cypriot minister of trade, industry and tourism, Nicos Rolandis, paid a visit to Egypt at the invitation of Egyptian Minister of Trade and Supply Ahmed El-Goweili in which the Cypriot minister said that Egyptian - Cypriot relations have a history thousands of years long. Egypt-Cyprus, Economics, 2/27/1999 - Moroccan industrial production improves by 2% in fourth quarter of 1998
Industrial production in Morocco improved by 2% in the last three months of 1998, in comparison with the third quarter, says the statistics department. Morocco, Economics, 2/27/1999 - Canada earmarks $1.5 million to improve rural community contribution in drinking water management
Canada will earmark $1.5 million to support a project to help rural populations' involvement in the management and maintenance of drinking water systems. Morocco-Canada, Economics, 2/27/1999 - Morocco and European Investment Bank negotiate loan Morocco, Economics, 2/27/1999
- 50 Egyptian tourism companies participate in Milano event
50 Egyptian tourism companies are participating in the Milano International Tourism Bourse exhibition that is currently underway and will run through Sunday. Egypt, Economics, 2/26/1999 - Exporting Egyptian gas to Turkey
A three-year agreement for exporting gas to Turkey was signed yesterday in Ankara starting from the year 2002. A source in the Egyptian Ministry of Petroleum said today that Egyptian Minister of Petroleum Hamdi El-Banbi signed this agreement with his Turkish counterpart. Egypt-Turkey, Economics, 2/26/1999 - Cooperation agreement between Tunisia and World Bank
Christian Dallvo, the regional manager of the World Bank left Tunis yesterday after signing the bank's ninth cooperation agreement with the Tunisian government. Tunisia-World Bank, Economics, 2/26/1999 - Tunisia develops cooperation with Portugal, Egypt and Yemen
Portuguese President Jorge Sampaio has asserted his country's desire to "intensify consultations with Tunisia and to benefit from all available potentials for boosting bilateral cooperation." Tunisia-International, Economics, 2/26/1999 - Trade relations between UAE, Canada
Canadian Minister of International trade Sergio Marchi has expressed his country's readiness to provide expertise and advanced technology to the United Arab Emirates. United Arab Emirates-Canada, Economics, 2/26/1999 - Italy agrees to convert $100 million of Moroccan debt into investment
Italy agreed recently to swap $100 million of Morocco's debt into public investments. Morocco-Italy, Economics, 2/26/1999 - Forming an Egyptian - German business council
Economic sources in Cairo said that an Egyptian - German business council is being established following the successful visit paid by Egyptian President Hsoni Mubarak to Bonn this week. Egypt-Germany, Economics, 2/26/1999 - King Hassan calls Canadian investors to increase action in Morocco
King Hassan II called Thursday Canadian investors to increase their action in Morocco and said the timidity of Canadian economic operators in Morocco, where they account only for 1 % of foreign investments, is not coherent with the proximity of the two countries' business communities. Morocco-Canada, Economics, 2/26/1999 - Algeria to privatize 11 hotels
The Algerian government has decided to float 11 hotels for privatization in light of the government's plan for economic reform. Algeria, Economics, 2/26/1999 - $300 million for establishing an Arab petrochemical holding company Regional, Business, 2/26/1999
- 25 Italian businessmen visiting Egypt today
25 Italian businessmen are starting a visit to Egypt to discuss increasing commercial cooperation between the two countries. Egypt-Italy, Economics, 2/26/1999 - Morocco and Egypt prepare for high cooperation commission meeting
Morocco and Egypt are working to identify priority partnership projects to be endorsed by the high cooperation commission that will convene in Morocco next spring under the chairmanship of King Hassan II and President Hosni Mubarak. Morocco-Egypt, Economics, 2/26/1999 - 427 million euros to upgrade Egyptian industry Egypt-European Union, Economics, 2/26/1999
- Bahrain - tourism Bahrain, Economics, 2/26/1999
- Moussa heads Egyptian delegation to G8 meetings
Egyptian President Hosni Mubarak authorized Foreign Minister Amr Moussa to head tomorrow to Dhaka, capital of Bangladesh, to head Egypt's delegation to the meetings of foreign ministers from the Group of Eight Developing Islamic Countries. Egypt, Economics, 2/25/1999 - Morocco's foreign currency reserves up 5 % in 1998 Morocco, Economics, 2/25/1999
- Saudi Arabia finances Jordanian projects Saudi Arabia-Jordan, Economics, 2/25/1999
- Egypt and Cyprus to boost commercial cooperation
Egyptian Prime Minister Kamal El-Ganzoury met yesterday with Cypriot Minister of Trade, Industry and Tourism Nicos Rolandis, as the two sides agreed on endorsing a protocol for commercial cooperation. Egypt-Cyprus, Economics, 2/25/1999 - Baghdad: Jordanian delegation to reduce the commercial protocol
Jordanian Minister of Industry and Trade Mohammed Saleh El-Horani arrived in Baghdad yesterday, heading his country's delegation to attend the meetings of the Iraqi - Jordanian joint committee. Iraq-Jordan, Economics, 2/25/1999 - United Arab Emirates and Canada reach agreement to prevent double taxation
Canadian Minister of International Trade Sergio Marchi said that agreements for preventing tax duplicity and protecting investments between the United Arab Emirates and Canada are about to be signed. United Arab Emirates-Canada, Economics, 2/25/1999 - Morocco adopts new customs code
Morocco adopted Wednesday a new customs code which will help Moroccan enterprises and exporters improve performance and enhance competitiveness to be up to the market-economy challenges. Morocco, Economics, 2/25/1999 - Jordanian King confers with Arab investors
King Abdullah of Jordan met on Wednesday in Amman with several Arab investors and members of the Jordanian al-Iskan (housing) Bank council, who represent Arab and Islamic countries. Jordan-Regional, Economics, 2/25/1999 - Morocco to build 1,500 km of highways by year 2010
Morocco, which is building annually 100 Km of highways, will have by year 2010 a 1500 km long motoryway network Morocco, Economics, 2/25/1999 - Executive steps for starting the Arab free trade zone Regional, Economics, 2/24/1999
- Egypt participates in meeting of group of eight in Dhaka
An Egyptian diplomatic delegation under the chairmanship of Salah El-Ashri, the Egyptian deputy assistant foreign minister for regional economic cooperation, left Cairo this morning for Dakar to participate in the preparatory meetings for the second summit for the Group of Eight Islamic Developing Countries. Egypt-International, Economics, 2/24/1999 - New Egyptian draft budget worth $28 billion
The Egyptian government is to discuss in its meetings next week the draft general budget for the 1999-2000 fiscal year drawn up by the Ministry of Planning two days ago. The draft budget is valued at $28 billion, an increase of $4 billion over the 1998 budget. Egypt, Economics, 2/24/1999 - Gulf Cooperation Council discusses developing unified gas network
The undersecretaries of ministers of petroleum in the Gulf states started their second meeting at the headquarters of the Gulf Cooperation Council today to discuss developing a gas network project among the GCC states. Gulf, Economics, 2/24/1999 - French petroleum companies in Egypt once again
Egyptian Minister of Petroleum Hamdi El-Banbi announced yesterday that during his meeting yesterday with French Minister of Industry Christian Periret he discussed areas of cooperation between Egypt and France in activities of drilling and producing petroleum in Egypt. Egypt-France, Business, 2/24/1999 - Qatari company fired 25 doctors Qatar, Business, 2/24/1999
- UAE - Libya - air transport United Arab Emirates-Libya, Business, 2/24/1999
- Morocco offered Gulf states projects worth $275 million Morocco-Gulf, Economics, 2/24/1999
- Israeli, Palestinian officials meet on setting up industrial zone Palestine-Israel, Economics, 2/24/1999
- Al-Hoss: Facilities to encourage investments between Egypt and Lebanon Lebanon-Egypt, Economics, 2/23/1999
- $70 Million a loan for banks Misr from Citibank
Esam El- Ahmadi, head of the bank, told ArabicNews.com today that the bank's board of directors is studying this offer, adding that negotiations are currently underway to determine the final value of the loan and the terms to repay it. Egypt, Business, 2/23/1999 - Bonds worth $2 billion in Tunisia
The Tunisian central bank will raise at the beginning of March bonds worth 200 million Tunisian dinars ($177 million) in the first stage of issuing such bonds for the first time. Tunisia, Economics, 2/23/1999 - Syria, Lebanon sign sea trade agreement
Syrian Transport Minister Mufid Abdul Karim and his Lebanese counterpart Najib Meikati on Monday in Damascus signed a sea transport trade agreement providing for encouraging projects for joint maritime investment companies in the two states. Syria-Lebanon, Economics, 2/23/1999 - Egypt to resurrect Alexandria lighthouse for year 2000 celebrations,
International and Egyptian companies began the executive measures to reestablish the lighthouse of Alexandria, considered one of the seven wonders of the ancient world, within the framework of the Egyptian government's plan to reconstruct the monuments of old Alexandreia, which began with the Romanian Theatre, Amoud El-Swari, the Kait Bay Citadel and the Alexandria Library. Egypt, Economics, 2/23/1999 - Canada to sign trade agreement with Palestine
Canada will sign a number of trade and economic agreements with the Palestinian National Authority. Palestine-Canada, Economics, 2/23/1999 - Increasing French investments in Egypt
In press statements French Minister of State for Trade and Economy Christian Pierret said a large number of French companies are planning to increase their investment in Egypt. Egypt-France, Economics, 2/23/1999 - IDB approves $34 million dollars to finance Bahrain electricity project
The Islamic Development Bank (IDB) and Bahrain signed on Monday an agreement to finance the purchase of $34.3 million worth of equipment to be used in the upgrading of Bahrain's electricity network. Bahrain-Regional, Economics, 2/23/1999 - ARABSAT prepares to launch new satellite
The ARABSAT company for communications affiliated to the Arab League is preparing to launch a new satellite at the end of the current month, ARABSAT 3A from French Guinea. Regional, Economics, 2/23/1999 - Morocco and Egypt to step up cooperation in agriculture Morocco-Egypt, Economics, 2/23/1999
- Avoiding Y2K bug effects is everybody's responsibility
A Moroccan official said averting the effects of the Y2k bug is everybody's responsibility. Morocco, Business, 2/23/1999 - 5 percent increase in MobiNil shares in the stock market
The price per share of the Egyptian company for mobile phone services, MobiNil, rose 5% in the Egyptian stock market's transactions yesterday. Egypt, Business, 2/23/1999 - Cairo hosts international conference to discuss privatization in North Africa
Cairo is witnessing today an international conference for privatization and the industrial restructuring in the Middle East, addressing international energy policy and mine workers, as well as economic and social development in North Africa and the Middle East. Regional, Economics, 2/23/1999 - Moroccan delegation ends two-week long Gulf tour
A 68-member Moroccan delegation on Saturday wound up a two-week long Gulf tour that led it to the United Arab Emirates, Oman, Bahrain, Kuwait, Saudi Arabia and Qatar and that was crowned by the signing of several cooperation accords. Morocco-Gulf, Economics, 2/22/1999 - Israeli group mediates gas line deal in the Caspian Sea bypassing Iran to Turkey
The Israeli Merhaf group specialized in energy has played the role of the broker in the project signed by Turkmenistan last Friday to erect a line for natural gas transportation from the Caspian Sea to Europe and Turkey. Regional, Economics, 2/22/1999 - Saudi - Egyptian discussions for establishing a free trade zone
An Egyptian economic delegation under the chairmanship of Fakhr El-Din Abu El-Ez, the chairman of board directors for the general organization of exports and imports, is to arrive tonight in Riyadh for a three-day visit to Saudi Arabia. Egypt-Saudi Arabia, Economics, 2/22/1999 - Launching of Casablanca-Gaza flight will enhance Moroccan-Palestinian cooperation ties
The latest Launching of the Casablanca-Gaza flight will contribute to enhancing further cooperation ties between Morocco and sisterly Palestine in all sectors, said lately a senior executive of the Moroccan carrier "Royal Air Maroc" (RAM). Palestine-Morocco, Economics, 2/22/1999 - Manama hosts oil exhibition and conference
The 11th Middle East Oil Exhibition and conference was opened on Saturday in Manama. The exhibition is organized at the Bahrain's International Exhibition Center and will last for four days. It will be attended by 240 companies from 20 countries. Regional-Bahrain, Economics, 2/22/1999 - First Egyptian company for trade in Dubai
The Egyptian Oriental Weavers Group for investment established an Egyptian - United Arab Emirates company for trade in Dubai with equal shares with the UAE's El-Okeil group with a capital of $20 million. United Arab Emirates-United Arab Emirates, Business, 2/22/1999 - Investment opportunities worth $200 million in Algeria
The Egyptian corporation for guaranteeing investments decided to raise six projects for the Arab and foreign businessmen to be implemented in Algeria at a value of $200 million today. Algeria-Egypt, Business, 2/22/1999 - $120 million in trade expected between Egypt and Lebanon following free trade agreement
Lebanese Prime Minister Salim al-Hoss said following his meeting yesterday with his Egyptian counterpart, Kamal El-Ganzouri, that the meeting reviewed the development of economic relations between the two countries. Egypt-Lebanon, Economics, 2/22/1999 - Saudi Arabia, Jordan for improving economic relations Saudi Arabia-Jordan, Economics, 2/22/1999
- GCC secretary confers with Swiss economy minister Gulf-Switzerland, Economics, 2/22/1999