Arabic News Weekly Edition for Economics, 12/6/1999
Weekly Edition, Economics - Week of December 6, 1999
- Toshka Project will continue
Interviewed by El-Musawar Magazine in its Friday edition, President Hosni Mubarak affirmed that work on Toshka project will continue non-stop, pointing out that feasibility studies' repeated affirmations that the project will be a success. Egypt, Economics, 12/11/1999 - UN extends oil-for-food, US ups pressure on Iraq
The United Nations Security concil yesterday voted unanmiously to extend the oil-for-food program with Iraq for another six months in resolution 1281. Iraq-UN, Economics, 12/11/1999 - $490 million from World Bank to Egypt
Egypt agreed with the World Bank for the bank to finance projects to increase resources to limited income families at a value that might exceed $200 million, knowing that the project's cost may reach $490 million. Egypt-World Bank, Economics, 12/11/1999 - 3,500 companies in Cairo International Fair 2000
Nearly 3,500 international and local companies from 70 countries will participate in the 33rd Cairo International Fair on March 1 - 10. Egypt, Economics, 12/11/1999 - Jordanian airplanes will not work on New Years Jordan, Business, 12/11/1999
- International tourism group to build tourism and spa compound in Morocco
An international tourism group, "Palais des Roses" (Palace of Roses), will build a tourism compound in the Moroccan Atlantic Ocean resort of Agadir, for an initial investment of $22 million. Morocco, Business, 12/11/1999 - European bank extends Morocco 87 million euros in loans
The European Investment Bank (EIB) on Friday extended Morocco two loans of a total value of 87 million euros. Morocco, Economics, 12/11/1999 - New projects for Suez Canal organization Egypt, Economics, 12/10/1999
- Expanding air capacity for transporting tourists in Egypt Egypt, Economics, 12/10/1999
- Conference on investment in southern Egypt aims at increasing production Egypt, Economics, 12/10/1999
- Japan finances water supply project in northern Morocco Morocco-Japan, Economics, 12/10/1999
- Port traffic increases by 8.6%
The overall traffic in Moroccan ports reached from January to October 1999 some 43.7 million tons, recording an increase of 8.6% compared to the same period the previous year. Morocco, Economics, 12/10/1999 - Italy to swap $100 million Moroccan debt in investments
Italy has decided to swap $100 million in debts owed by Morocco into investments by Italian small and medium-sized enterprises, said the chairman of the Arab-Italian Chamber of Commerce, Sergio Mariani. Morocco-Italy, Economics, 12/10/1999 - 6.5 million m3 of water stored in Moroccan dams' reservoirs Morocco, Economics, 12/10/1999
- Lebanese - Iraqi discussions on expanding trade
Official discussions between Iraq and Lebanon started in the Iraqi capital yesterday aimed at revitalizing the maritime and land transportation of goods between the two states and means of facilitating it. Lebanon-Iraq, Economics, 12/10/1999 - Morocco, Japan hold African seminar on road maintenance Morocco-Japan, Economics, 12/10/1999
- Egypt's Orascom Technologies won a running contract for the Mobile Net in Congo Egypt-Congo, Business, 12/10/1999
- Libya suspends Syrian textiles exports contracts at US $300 million
The Syrian daily Tishreen reported today that sources at the Damascus Chambers of Industry said that the Libyan government has suspended several exportation contracts for Syrian industrialists in the area of textiles and garments to Libya at a cost of US $300 million. Syria-Libya, Economics, 12/9/1999 - First corporate law institute in Morocco dedicated
A corporate law higher institute, the first of the kind ever in Morocco, has been dedicated on Wednesday in Casablanca. Morocco, Business, 12/9/1999 - Syrian-US business council established
The chairman of the federation of the Syrian chambers of commerce, Rateb al-Shallah, told the London-based al-Hayat daily that the visit of a Syrian economic delegation to the US last week had laid "the solid grounds" for developing Syrian-US economic relations, including the establishment of a joint business council. Syria-USA, Economics, 12/9/1999 - State to sell its shares in Moroccan car-assembling company
The Moroccan state will sell to the private sector the 38% of shares it holds in the car-assembling company "SOMACA," it was officially announced in Rabat. Morocco, Business, 12/9/1999 - Moroccan-European Commission cooperation assessed at news conference
Moroccan Minister of Economy and Finance Fathallah Oualalou and the head of the European Commission delegation in Rabat, Lucio Guerrato, assessed at a joint news conference in Rabat on Wednesday cooperation between Morocco and the European Commission, especially in the framework of the MEDA program. Morocco-European Union, Economics, 12/9/1999 - Discussions between the US and Saudi energy ministers Saudi Arabia-USA, Economics, 12/9/1999
- Meetings of Arab organization for atomic power conclude
The executive council of the Arab organization for atomic power, located in Tunis, is concluding the meetings of its 24th regular session today, during which it has tackled reports concerning training sessions that were organized by the organization on medical procedures and preparations in case of a radiation emergency and on activating and using research reactors and field of nuclear medicine. Regional, Economics, 12/9/1999 - American appreciation for Mubarak's reform efforts
"The US has voiced full appreciation for President Hosni Mubarak's efforts to realize reform and revival in Egypt," Prime Minister Dr. Atef Ebeid said on Tuesday following President Mubarak`s meeting with a visiting USAID delegation. Egypt-USA, Economics, 12/8/1999 - UN urges humanitarian aid for Somalia
The UN has called on the international community to provide US $50 million to evade the occurrence of a humanitarian catastrophe which will endanger 600,000 inhabitants in Somalia. Somalia, Economics, 12/8/1999 - Gas storage terminal in El Jadida Morocco, Business, 12/8/1999
- Ebeid defends feasibility of national projects
Egypt yesterday denied intentions to reconsider any of the giant projects taking place in Upper Egypt, Sinai or around the Suez Canal. Egypt, Economics, 12/8/1999 - IFC provides $35 million credit line to Lebanese bank
The International Finance Corporation (IFC) is investing $35 million to allow Byblos Bank to provide more mortgages and long-term financing for smaller businesses in Lebanon, where there is still a big need for new housing following years of civil war. Lebanon, Business, 12/8/1999 - Strike in medical and pharmacy schools of Rabat, Casablanca
The medical and pharmacy schools of Rabat and Casablanca started today a two-day strike in all departments, except in emergency wards. Morocco, Economics, 12/8/1999 - Tourism brigade in Agadir gets beach motorcycles Morocco, Economics, 12/8/1999
- A $640 million budget surplus for the 1999 July-October period
The Moroccan budget recorded a surplus of 6.4 billion dhs ($640 mln) in the first 4 months of the 1999-2000 exercise, starting in July 99, said figures released by the economy and finance department. Morocco, Economics, 12/8/1999 - Egypt backs up UK campaign to reform WTO
The United Kingdom is getting ready to launch an international campaign to mobilize world support necessary for making radical reform in World Trade Organization (WTO). This comes with the failure of the World Trade Organization's Ministerial Conference in Seattle. Egypt-UK, Economics, 12/7/1999 - Morocco, Tunisia sign agreement for industrial cooperation Morocco-Tunisia, Economics, 12/7/1999
- Moroccan bank reduces interest rates for investment loans Morocco, Business, 12/7/1999
- Executive steps to boost Egypt's mega projects
President Hosni Mubarak recently presided over an expanded meeting by the Ministerial Council to review the financial and executive steps of Egypt's mega projects namely; Toshka, the Suez Gulf, Darb El-Arbeen and East Owainat, East Port Said, Sinai and Aswan. Egypt, Economics, 12/7/1999 - Morocco raises $15.8 million in anti-poverty campaign
Morocco raised $15.8 million in in-kind and cash donations during the second national campaign of struggle against poverty, the governing board of the Mohammed V Solidarity Foundation said on Monday. Morocco, Economics, 12/7/1999 - New technologies to fill in Moroccan development gap
New technologies are a genuine "historic opportunity" for Morocco to catch up with developed countries, said economic adviser to the king, Andre Azoulay, in Bonn on Monday. Morocco, Economics, 12/7/1999 - Egyptian forum for medical exports
Egyptian Minister of Health Dr. Ismail Sallam is opening today the sixth exporting forum concerning medical industries in Egypt, which is organized by the trade chamber in Alexandria in cooperation with the Ahram economic magazine and in which heads of heads of pharmaceutical companies and companies concerned with medical industries are participating. Egypt, Business, 12/7/1999 - Establishing Italian - Egyptian center for furniture industry
Abd El-Azeem Wazeer, governor of Damietta, Egypt, said the governorate opens its arms before any foreign experience to cooperate with the Egyptian experience and present all required facilities to develop industry in Damietta. Egypt-Italy, Economics, 12/7/1999 - Egypt, one of the most investment attracting countries
The Arab investors in Egypt stressed their confidence in all the Egyptian government’s procedures and facilities to push investments forward. Egypt, Economics, 12/7/1999 - Morocco pledges to settle joblessness in southern provinces
Moroccan Employment Minister Khalid Alioua said on Monday that the joblessness issue in the southern province of Laayoune will be settled "very shortly." Morocco, Economics, 12/7/1999 - Morocco, Bulgaria to start enforcing non-double taxation agreement
Morocco and Bulgaria exchanged in Rabat on Monday the ratification documents of a non-double taxation agreement, signed in 1996 in Bulgaria's capital city of Sofia. Morocco-Bulgaria, Economics, 12/7/1999 - Morocco braced for post fishing accord reprisals
Fisheries Minister Thami Khyari said Monday that several countries outside the European Union have invited the kingdom to talks on fishing rights in Moroccan waters. Morocco-European Union, Economics, 12/7/1999 - Emergency plan in Jordan to confront water crisis
Jordanian Minister of Water and Irrigation Kamal Mahadin said yesterday that Jordan has begun preparing an emergency plan to confront the water crisis anticipated during the coming summer as a result of a lack of rains and the discouraging indicators regarding the current winter season. Jordan, Economics, 12/7/1999 - Israel buys more factories in Jordan Jordan-Israel, Business, 12/7/1999
- European MEDA committee contributes $1.7 million to Moroccan housing project
The MEDA Committee of the European Union has earmarked $1.7 million to back a Moroccan housing project in the northern city of Tangier. Morocco-European Union, Economics, 12/7/1999 - Arab ministers approve electronic visas in the Arab states
Arab ministers of tourism have called on the Arab states interested in celebrating the third millennium to inform the Arab League about the tourism facilities they will offer during the year 2000 with the objective of making necessary tourism attraction campaigns. Regional, Economics, 12/6/1999 - Syria studies bringing water from coastal areas to Damascus
Syrian sources reported that Damascus at present is studying bringing water from the coastal areas to Damascus and that Turkey has permitted the flow of the waters of the Euphrates towards Syria. Syria-Turkey, Economics, 12/6/1999 - Egypt spends 1 billion on upgrading communication technologies
Minister of Communication and Information Technology Ahmad Nazief said Saturday that the ministry has mapped out a three-year plan for upgrading communication and information technologies with a total cost of LE 1.1 billion. Egypt, Economics, 12/6/1999 - $400 million in Japanese aid to Jordan
Jordan said that Japan has offered it economic aid worth $400 million to help achieve Jordan's economical stability, as Jordan suffers from a shortage in the payment balance and a large external debt. Jordan-Japan, Economics, 12/6/1999 - Concluding Riyadh's cars fair 99 on Wednesday
Riyadh's 1999 automotive fair is to conclude on Wednesday after being opened on Saturday. Saudi Arabia, Economics, 12/6/1999 - Moroccan teachers on strike, government voice surprise Morocco, Economics, 12/6/1999
- Strategic studies institute planned
"Egypt will set up an institute for strategic studies to provide the government with the studies required for economic and social development," Prime Minister Atef Ebeid said following talks with a World Bank (WB) delegation yesterday. The institute will be established with the assistance of the WB and the Arab Development Fund (ADF). Egypt, Economics, 12/6/1999 - World Bank finance four social and economic development projects in Egypt
Prime Minister Atef Ebeid said that social development will go hand-in- hand with economic development in the upcoming stage, indicating that an agreement was reached with the World Bank (WB) mission to finance a large number of projects designed to increase income of lower brackets. Egypt, Economics, 12/6/1999 - International banks bid for an Egyptian $1 billion securities deal
In exclusive statements to al-Ahram Daily, Manager of the Bank of New York, London said that Egypt will issue seven international certificates of deposit (CDs) covering the sectors of communication, construction and tourism. Egypt, Business, 12/6/1999 - Israeli secret investments in Indonesia Israel-Indonesia, Economics, 12/6/1999
- Israeli companies to take part in rebuilding Yugoslavia Israel-Yugoslavia, Economics, 12/6/1999