Arabic News Weekly Edition for Economics, 5/24/1999
Weekly Edition, Economics - Week of May 24, 1999
- Tunisia, Morocco agree to foster tourism cooperation
The two countries, who signed the minutes of their joint tourism commission that met last year in Tunis, convened to set up tourism programs for their citizens, including the enforcement of competitive prices in hotels and the promotion of tourism weeks. Tunisia-Morocco, Economics, 5/29/1999 - ARABSAT meeting Regional, Economics, 5/29/1999
- Oman organizes November exhibition Oman, Economics, 5/29/1999
- Jordanian trade delegation concludes working visit to Holland
A high powered Jordanian commercial and economic delegation has concluded a four-day working visit to Holland, during the delegation held condensed meetings with representatives and officials from the Netherlands' economic and commercial sectors. Jordan-Netherlands, Economics, 5/29/1999 - 1.8 Million moroccan expatriates cross Gibraltar Strait in summer
Some 1.8 million Moroccan expatriates in Europe will cross this summer the Gibraltar strait toward Morocco for holidays, sources from the Moroccan-Spanish Commission in charge of supervising the crossing operation (Transit-99) said. Morocco-Spain, Economics, 5/29/1999 - A free trade zone between Egypt and Libya
The higher commercial committee between Egypt and Libya will confer in the middle of June to agree on establishing a free trade zone between the two countries. Egypt-Libya, Economics, 5/28/1999 - Foreign companies participate in repairing closed Iraqi factories Iraq, Economics, 5/28/1999
- Egypt to host COMESA summit in 2001
Countries belonging to the COMESA group (Common Market for Eastern and Southern Africa) agreed to hold the organization's coming summit in the Egyptian capital, Cairo. The meeting will be held in the year 2001, and Egypt will undertake the chairmanship of the group during this period. Egypt, Economics, 5/28/1999 - special: Syrian foreign trade sector
The foreign trade sector was the dynamo of development in Syria over different periods of the 17th and 18th centuries. In the 20th century and shortly after Syria had won independence there was a considerable foreign demand for a variety of Syrian commodities such as agricultural products and raw materials like cotton and wool. Syria, Economics, 5/28/1999 - $700 million to finance mutual Arab trade
The Arab trade program for financing affiliated to the Arab Economic Unity Council decided to present $700 million to finance Arab mutual trade agreements through 96 national agencies in all Arab countries. Regional, Economics, 5/28/1999 - Saudi economic delegation to visit Cairo in June
A Saudi economic delegation is due to visit Cairo at the beginning of June, under the chairmanship the undersecretary of Saudi Arabia's Ministry of Economy and Finance, Hamd El-Bagey, to attend the meetings of the third free trade zone between the two countries. Egypt-Saudi Arabia, Economics, 5/28/1999 - Dubai opens new center for re-exporting tea
The Indian "Tea Council," which takes Dubai as its headquarters, said on Wednesday that the United Arab Emirates UAE has become a new center for reexporting tea. United Arab Emirates, Business, 5/28/1999 - African agency established specializing in evaluating economic projects Regional-Africa, Economics, 5/28/1999
- Morocco calls for new ABD approach in relations with African countries
The African Development Bank (ADB) needs to reconsider its relations with African countries and take into account the development level of each one, said Moroccan Economy and Finance Minister Fathallah Oualalou. Regional-Morocco-Africa, Economics, 5/28/1999 - Oman first quarter oil exports down
Oman's crude oil exports for the first quarter of 1999 were down 1.19% from their level during the same period last year, statictics released by the Omani Ministry of National Economy said. Oman, Economics, 5/28/1999 - Siemens wins Kuwaiti mobile network contract
The German Siemens group won an order to establish the second network for mobile phones in Kuwait, which is estimated at 105 million German marks. Kuwait, Business, 5/28/1999 - Japan gives loan to Algerian Sonatrach
Algerian official sources said that the Japanese Export and Import Bank, the governmental organization for financing exports, granted the Algerian company Sauna Tarak for oil and gas a loan of $83 million to purchase equipment regarding energy. Algeria, Business, 5/28/1999 - Egypt continues to present support on the bilateral level for COMESA countries
Egyptian Assistant Foreign Minister for African Affairs Ibrahim Hassan said, "Egypt will go on in presenting technical support on the bilateral level for the COMESA countries besides its contribution as a full member in the group." Egypt, Economics, 5/28/1999 - A Kuwaiti loan to Lebanon worth 200 million dollars Lebanon-Kuwait, Economics, 5/28/1999
- EgyptAir company schedules 135 additional trips this summer
Egypt Airlines Company announced that it would as 135 trips to the Kuwaiti and Riyadh lines during the current summer. Egypt, Economics, 5/28/1999 - Seven Egyptian data companies to merge
Seven Egyptian private companies that work in data technology said they are merging in an attempt to win a bigger share of the Egyptian and Arab technology markets. Egypt, Business, 5/28/1999 - Morocco's poultry sector posts annual $ 909 mln in sales
Morocco's poultry sector, which employs 35,000 persons, posts an estimated annual turnover of $ 909 million and meets 50 % of domestic needs in white meat. Morocco, Economics, 5/28/1999 - Egypt: Cyprus participates in nine investment projects Egypt-Cyprus, Economics, 5/28/1999
- Saudi El-Raghi purchases 8 percent of Egyptian company
The Saudi banking corporation El-Raghi purchased during the last week 8% of the Egyptian company El-Mohandes for insurance which is the share owned by the Malaysian Quantum insurance company. Egypt-Saudi Arabia, Business, 5/27/1999 - Malaysian trade delegation arrived in Damascus
Malaysian Trade and Industry Minister Rafidah binti Abdul Aziz arrived in Damascus on Wednesday morning leading a delegation of industrialists and businessmen representing the government and private business sector in Malaysia on a visit that will last for several days. Syria-Malaysia, Economics, 5/27/1999 - Moroccan-Egyptian high joint commission meets in rabat in june
The Moroccan-Egyptian high joint commission will convene in Rabat during the first half of June under the co-chairmanship of King Hassan II and President Hosni Mubarak. Egypt-Morocco, Economics, 5/27/1999 - Royal Jordanian Airlines to convert debt to shares Jordan, Business, 5/27/1999
- Export-Import Bank of the United States specifies $1 billion to finance Egyptian projects
The Export-Import Bank of the United States said yesterday that it is currently discussing providing financing of $1 billion for projects in Egypt in the fields of energy, communications, transportation and environment. Egypt-USA, Economics, 5/27/1999 - IMF grants Algeria $300 million loan
The International Monetary Fund on Wednesday approved a $300 million loan to help Algeria deal with a temporary shortfall in export revenues caused by low oil prices. Algeria, Economics, 5/27/1999 - Major industrial countries to discuss forgiving Jordan's debts
Jordanian Minister of Finance Michel Marto said that the meeting of the G7 industrial countries' governments that will be held in the German City of Cologne during the coming month will discuss the striking of Jordan's debts. Jordan, Economics, 5/27/1999 - New US investments in Egypt are worth $4 billion
The U.S. Overseas Private Investment Corporation (OPIC) provides support for 24 projects presented by US and Egyptian businessmen to be established in Egypt. Egypt-USA, Economics, 5/27/1999 - 37 New industrial corporations in Lebanon
the number of new industrial corporations reached 37 during last April with funds worth 8.4 billion Lebanese lira and that these projects provided 284 new job opportunities. Lebanon, Economics, 5/27/1999 - African Development Bank's annual board meeting winds up Regional, Economics, 5/27/1999
- Morocco $50 million dollars to upgrade a gold mine
The mining company affiliated to the Moroccan ONA (Omnium Nord-Africain) group has announced that it set out $50 million to upgrade the Aka mine in southern Morocco, the monthly economic news released by Moroccan embassy in Cairo said, adding that this amount aims at upgrading the reserves of the gold mine. Morocco, Business, 5/27/1999 - Further cooperation between Turkey and Israel
A Turkish daily said on Tuesday that the Israeli companies have proposed to their Turkish counterparts job opportunities in Kyrgyzstan, Azerbaijan and Uzbekistan. Turkey-Israel, Economics, 5/26/1999 - Foreign investments in Arab states worth $2.2 billion
Mamoun Hassan, the head of the Arab corporation for guaranteeing investment, said the total foreign direct investments that flowed into Arab countries in 1998 have amounted to $2.255 billion. Regional, Economics, 5/26/1999 - Head of Egyptian investment organization visits Canada
Ibrahim Fawzi, head of the general organization for investment and Egyptian free zones, left Cairo yesterday heading to Montreal escorted by a large delegation of Egyptian businessmen on a four-day visit to Canada. Egypt-Canada, Economics, 5/26/1999 - Moussa presents report to Mubarak on COMESA summit
Egyptian President Hosni Mubarak received today a detailed report on the outcome of the COMESA summit's meetings, in which Egypt took part for the first time, from Egyptian Foreign Minister Amr Moussa who headed the Egyptian to the meetings. Egypt-COMESA, Economics, 5/26/1999 - Cooperation agreement among Egypt, Tanzania and FAO
According to this agreement, Egypt will provide technical aid to Tanzania through three years in water control, small animal breeding, fisheries and improving the standard of living for the inhabitants of rural areas of Tanzania. Egypt-Tanzania, Economics, 5/26/1999 - USA to train Morocco's mill workers
U.S. Wheat Associates Inc. will train Morocco's milling professionals and workers under a partnership accord signed Tuesday in New York between the two sides. Morocco-USA, Business, 5/26/1999 - Qatar - power use Qatar, Economics, 5/26/1999
- A Moroccan union calls for general strike in several sectors Morocco, Economics, 5/26/1999
- Moroccan, Indian businessmen explore partnership possibilities
Moroccan and Indian businessmen are currently meeting here to explore partnership and cooperation possibilities. Head of the Moroccan employers' association (CGEM), Abderrahim Lahjouji, announced at a press conference that Morocco and India will conclude shortly in India an accord, setting up a bilateral business council that will be chaired by director-general of the Moroccan state-owned phosphates corporation (OCP), Mourad Cherif. Morocco-India, Business, 5/26/1999 - Rabat-Fez highway dedicated
A new 181 km-long highway linking the capital city of Rabat to Fez in central Morocco has been dedicated on Tuesday. Morocco, Economics, 5/26/1999 - Morocco to build $120 million paper plant Morocco-Canada, Business, 5/26/1999
- Syrian waters meet 30% of Jordanian demands Jordan-Syria, Economics, 5/26/1999
- Iraq renews oil for food agreement
A high-ranking official in the Iraqi government said on Tuesday that Iraq has formally renewed the oil-for-food agreement with the UN. The same official explained that the State-run oil marketing company, SOMO, is crrently working to reach new contracts for the sixth phase of the agreement. Iraq, Economics, 5/26/1999 - African Development Bank's annual meetings open today
Under the sponsorship of President Hosni Mubarak the African Development Bank (ADB) and the African Development Fund (ADF) annual meetings opened today in Cairo. Regional, Economics, 5/25/1999 - Syrian - Iraqi transport talks in Damascus
A round of Iraqi - Syrian talks held on Monday at the Syrian Ministry of Transport in Damascus. It was attended by Syrian Transport Minister Mufid Abdul Karim and his Iraqi counterpart, Ahmad Murtada Ahmad, as well as members of the two negotiating delegations. Syria-Iraq, Economics, 5/25/1999 - Bahrain - US sign aviation agreement
A statement by US State Department spokesman James Rubin said the agreement will "permit unrestricted service by the airlines of both sides between and beyond the other's territory, without restriction on how often carriers fly, the kind of aircraft they use, and the prices they may charge." Bahrain-USA, Economics, 5/25/1999 - Morocco bans temporarily shellfish catching in southern coasts Morocco, Economics, 5/25/1999
- Morocco's External Trade falls by 1.5 % in first Quarter of 1999 Morocco, Economics, 5/25/1999
- Morocco calls for urgent measures to alleviate debts of poorest countries
Morocco which devotes 32% of its annual budget to the debt burden called crediting countries to convert the debt of poorest countries into investments as a means to alleviate the debt burden. Morocco, Economics, 5/24/1999 - Moussa chairs Egyptian delegation to COMESA summit Egypt-Africa, Economics, 5/24/1999
- Qatari large gas project with Pakistan
Qatar and Pakistan are presently trying to progress in a project to transport Qatari gas to Pakistan at a project of a cost estimated at US $3 billion. Qatar-Pakistan, Economics, 5/24/1999 - Kuwaiti fund sign $56 mln loan with Morocco
Morocco and the Arab Fund for Economic and Social Development (AFESD) signed in Rabat on Friday an agreement under which the Kuwait-based fund grants Morocco a loan worth $56 million (17 million Kuwaiti Dinars) to help finance the construction of a dam and a water supply project in the southern city of Agadir. Morocco-Kuwait, Economics, 5/24/1999 - Unemployment rate in the Palestinian lands increases to 13.9%
The Palestinian Ministry of Labor force showed that the percentage of unemployment in the West Bank and Gaza Strip reached 13.9% of the labor force in the first three months of the current year, an increase of 1% over the same period of last year. Palestine, Economics, 5/24/1999 - Gaza to host fair for Egyptian products
The Egyptian organization of markets and fairs is due to organize the first exhibition for Egyptian products in Gaza during June. The exhibition is to last for 10 days, with the participation of 80 companies working in all fields to help develop the Palestinian economy. Egypt-Palestine, Economics, 5/24/1999 - Saudi airline to start trips to Alexandria in June Saudi Arabia-Egypt, Economics, 5/24/1999
- Morocco elected chairman of African insurance organization
Morocco was elected Thursday chairman of the African Insurance Organization at the organization's 26th annual conference held here. Morocco, Economics, 5/24/1999 - Morocco and Poland agree to cooperate in sea transport Morocco-Poland, Business, 5/24/1999
- Morocco to set up national investment agency
A Moroccan minister announced that Morocco will set up shortly a national investment agency which will be adapted to the national and international economic context and to the policy of regionalization and decentralization adopted in the country. Morocco, Economics, 5/24/1999