Arabic News Weekly Edition for Economics, 12/20/1999
Weekly Edition, Economics - Week of December 20, 1999
- Yemeni 1998 agriculture exports 9 billion Yemeni riyals Yemen, Economics, 12/24/1999
- Egyptian economy heading for competition
USAID Director Brady Anderson said his recent visit to Cairo showed him that the Egyptian economy is heading for competition under the liberal trade system and his meeting with Prime Minister Dr. Atef Ebeid convinced him that the Egyptian leadership has a definite perspective to enter into the world trade system and invest in the Hi-Tech industries. Egypt-USA, Economics, 12/24/1999 - US secretary of commerce to visit Egypt
US Secretary of Commerce William Daley will visit Egypt on January 19 for two days. Egypt-USA, Economics, 12/24/1999 - Danish economic delegation to visit Cairo in January
A Danish economic delegation including governmental officials will visit Cairo in middle of January in a series of visits to Egypt to support bilateral cooperation between the two countries in different fields, especially the commercial and the economic fields. Egypt-Denmark, Economics, 12/24/1999 - Kuwait mulls taxing expatriate workers Kuwait, Economics, 12/24/1999
- Indonesia bans embargo imposed on trade relations with Israel
Members of an Israeli delegation currently visiting Indonesia said the Indonesian government intends to cancel the embargo officially imposed on trade relations with Israel, and this will be materialized next week. Israel-Indonesia, Economics, 12/24/1999 - Syrian imports for the first half of 1999 estimated at 19 billion Syrian pounds
Tishreen reported that most of the imported items are for consumption rather than for use in production processes. It said cars and relevant spare parts were imported at a cost of 2 billion SP; 1.3 billion SP for sugar, cocoa and foreign tobacco imports and 1.8 billion SP for bananas, tea and coffee. The daily added, "It is regrettable to import industrialized textiles and cotton and wool fabrics at a cost of 1.9 billion SP, which is quite a large number, while the country has stores of similar cotton and textile fabrics." Syria, Economics, 12/23/1999 - Reforms spur growth in Morocco
The reforms operated by Morocco in the 1990s have enabled it to double economic growth in the country, the London-based business daily Financial Times wrote. Morocco, Economics, 12/23/1999 - Jordan joins World Trade Organization
Jordanian sources said that Jordan officially joined the World Trade Organization, stating that the decision of the organization's permanent council was unanimous concerning Jordan's membership in the international organization. Jordan, Economics, 12/23/1999 - Saudi Arabia to give back pay to farmers Saudi Arabia, Economics, 12/23/1999
- Moroccan-Portuguese trade exchanges on the rise
Portugal's imports from Morocco during the first eight months of 1999 amounted to 7.55 billion Escudos, compared to 6.58 billion the previous year, recording an increase of 14.6%. Morocco-Portugal, Economics, 12/23/1999 - UAE - Indian airlines reach baggage check agreement United Arab Emirates-India, Business, 12/23/1999
- Bahraini system to facilitate e-commerce Bahrain, Business, 12/23/1999
- Some 500 million Arabs by the year 2025
Economic reports prepared by international experts have warned against the high population growth registered in the majority of the Arab states exceeding the average in most parts of the world except Africa and several Latin American states. Regional, Economics, 12/23/1999 - Morocco, EU to consider separately fishery cooperation
Morocco and the European Union will be exploring separately new ways and opportunities for bilateral cooperation in the field of fisheries, said premier Abderrahmane Youssoufi after a meeting with European commissioner for agriculture and fisheries, Franz Fischler. Morocco-European Union, Economics, 12/22/1999 - Administrative red tape limits German investments in Morocco
Administrative red tape and the absence of promotion campaign on Morocco in Germany limits German investments in the kingdom, said German ambassador to Rabat, Hans-Dieter Scheel. Morocco-Germany, Economics, 12/22/1999 - Moroccan banks still mainly serve an elite clientele
Although Morocco's banks have established a stable and modernizing sector, they remain an industry serving the elite and still unable to play the intermediation role required to accelerate economic growth and sufficient jobs, the Financial Times wrote on Monday. Morocco, Economics, 12/22/1999 - Britain waives debt from 41 countries
Britain is to waive all bilateral debt owned by the world's poorest 41 countries in a relief package worth a total of more than five billion pounds, Finance Secretary Gordon Brown announced Tuesday. Regional-Regional-UK, Economics, 12/22/1999 - Finance minister blames economy ailments on low growth, poverty, heavy debt
The Moroccan economy and finance minister, Fathallah Oualalou, has said that low growth rate, poverty and heavy debts are the major cause behind the malfunctioning of the Moroccan economy. Morocco, Economics, 12/22/1999 - Algerian budget ratified
An Algerian official source said that the Algerian Nation's Council (parliament) on Sunday ratified the state's draft budget for the year 2000, which is expecting a deficit of US $3.4 billion. Algeria, Economics, 12/22/1999 - Saudi budget increases, deficit reduced
The Saudi government on Tuesday approved the budget project for the year 2000 with an increase in revenues and expenditures and reduction of the discrepancy to US $7.46 billion, against a discrepancy of US $9.06 billion in 1999, as economic growth reached 8.4%. Saudi Arabia, Economics, 12/22/1999 - Bahrain's Shoura approves merger Bahrain, Business, 12/22/1999
- Privatization activities on the rise
Despite the slow rhythm of economic activities during the fasting month of Ramadan, yet Egypt's privatization drive is gaining full force with a host of new capital inflows channeled into the State's treasury. Egypt, Economics, 12/22/1999 - Egyptian auction for confiscated gold Egypt, Economics, 12/22/1999
- Palestinian, Italian carriers sign accord
The Italian and Palestinian carriers "Alitalia" and "Palestinian Airlines" in Rome on Tuesday signed an agreement providing for the servicing of a Rome-Gaza line, a statement by Alitalia announced here. Palestine-Italy, Business, 12/22/1999 - India seeks to establish a project for producing bicycles in Iraq
The Indian Atlas Company for bicycles is trying to establish a joint project for its products in Iraq, aiming at expanding its activities in the Gulf area in Iraq and Iran, as well as in Syria, Lebanon and Palestine. Iraq-India, Business, 12/22/1999 - Morocco sends urgent humanitarian assistance to Venezuela
Morocco has decided to send an urgent humanitarian assistance to Venezuela to alleviate the suffering incurred by the population following floods and landslides. Morocco-Venezuela, Economics, 12/21/1999 - Tunisia facilitates entry visa to Egyptian businessmen Egypt-Tunisia, Economics, 12/21/1999
- France announces plan to cancel 40 bln francs of poorest countries' debt
France has decided to write off 40 billion francs of debts owed by the poorest countries in the period between 2000 and 2001. Regional, Economics, 12/21/1999 - WHO urges african countries to develop traditional medicine
The World Health Organization WHO has urged its African Member States to develop strategies for the integration of traditional medical practice into their national health care systems. Regional, Economics, 12/21/1999 - World bank to reduce Mauritania's debt
The World Bank's vice-president for Africa, Jean Louis Sarbib, started on Sunday a visit to Mauritania to examine with the authorities the economic situation in the country, which has been applying the WB's Structural Adjustment Program since 1992. Mauritania-World Bank, Economics, 12/21/1999 - Marrakesh received over 84,000 visitors in November
The number of tourists who have visited Marrakesh in November reached 84,204, an increase of 19% in comparison with last year. Morocco, Economics, 12/21/1999 - Lebanese - Syrian coordination in celebrating the millennium Lebanon-Syria, Economics, 12/21/1999
- Egyptian commercial missions to visit US and Africa next year Egypt-International, Economics, 12/21/1999
- African heads of state to hold economic summit in Libreville
African heads of state will hold in Libreville next January a summit on "growth and poverty reduction," said Gabonese economy minister. Regional-Africa, Economics, 12/21/1999 - 35% decrease in Egyptian cotton exports
Exports of the Egyptian cotton resumed their decrease during the eighth week of the 1999/2000 season as the decrease percentage reached 35% in comparison to the same period of last year. Egypt, Business, 12/21/1999 - Fitch IBCA lauds Egypt's economic stability
The recent report issued by the world financial institution Fitch IBCA lauded the efforts exerted by Egypt's new government under Dr. Atef Ebeid in pursuing economic reform and privatization programs, commending social action system. Egypt, Economics, 12/21/1999 - African bank lends Tunisia $34.8 mln Tunisia, Economics, 12/21/1999
- Ebeid: Government pays great heed to mega projects
Prime Minister Dr. Atef Ebeid said that the government is giving great attention to the national projects. This came during the meeting of the National Democratic Party's Political Club, which was attended by a number of MPs and ministers. Egypt, Economics, 12/21/1999 - Loan agreement signed between Syria and the Kuwaiti FAED
Syrian Minister of State for Planning Abdul Rahim al-Sbei and the director general of the Kuwaiti Fund for Arab Economic Development (FAED), Bader al-Hameidi, signed a loan agreement on Monday in Damascus between the Syrian government and the fund. Syria-Kuwait, Economics, 12/21/1999 - Germany lauds Egypt's economic performance
Director of the Middle East Department in the German Ministry of Economy lauded the success of the Egyptian economic reform program, affirming that Egypt is a vital trade link for Germany. Egypt-Germany, Economics, 12/21/1999 - 70 million LE from the African Development Fund for Egypt Egypt-Africa, Economics, 12/21/1999
- Bahrain may allow direct debit service Bahrain, Economics, 12/21/1999
- Indonesian trade delegation holds talks in Israel Israel-Indonesia, Economics, 12/21/1999
- UAE expects no major Y2K problems United Arab Emirates, Economics, 12/21/1999
- Jordan to issue new currencies with new king's pictures
The Jordan government decided Sunday to change Jordan's banknotes and coins for new ones carrying on one side the picture of King Abdullah bin Hussein. Jordan, Economics, 12/21/1999 - Reopening petroleum pipeline between Iraq and Syria
Iraq agreed with Syria on reopening a petroleum pipeline with a capacity of 300,000 barrels daily that has been closed since 1980. Iraq-Syria, Economics, 12/20/1999 - $1.5 billion shortage in new Sudanese budget
The Sudanese government ratified the budget for the year 2000, which includes a shortage of $1.5 billion and an increase in the expected income to nearly $1.2 billion because of petroleum exports. Sudan, Economics, 12/20/1999 - Raising 41 public Egyptian companies for sale
Egyptian Minister of the Public Business Sector Mokhtar Khatab said, "The privatization plan for the year 2000 comprises raising 41 stumbled companies for sale, among which are 15 companies in fabrics and textiles, iron and steel fields that cause 75% of the losses achieved by the sector's companies." Egypt, Business, 12/20/1999 - Palestinian banks ready to tackle any Y2K problem
Foad Bessiso, the governor of the Palestinian currency authority, said the Palestinian banking sector is ready to deal with any Y2K problem, adding that the authority formed an emergency committee that includes representatives of the banks working in Palestine to follow up on this matter around the clock. Palestine, Economics, 12/20/1999 - No retreat, Toshka Project considered thoroughly, hi-tech implementation.
Mahmoud Abou Zeid, Minister of Irrigation and Water Resources affirmed that Sheikh Zayed Canal Project in Toshka has been the outcome of several serious feasibility studies made by all concerned bodies namely the universities and ministries and what is going on there is the true reality, Abou Zeid pointed out. Egypt, Economics, 12/20/1999 - Retreat in international aid to the Palestinian government
A report made by an international organization that works in the occupied Palestinian lands said that aids from the donor states to the Palestinian government witnessed a decline of nearly 20% during the first half of the current year in comparison to the first half of last year. Palestine, Economics, 12/20/1999 - New flights for Yemeni airlines to Africa Yemen, Business, 12/20/1999
- UAE group's companies receive ISO 14001 certification United Arab Emirates, Business, 12/20/1999
- Bahrain issues new coin Bahrain, Economics, 12/20/1999
- Boat trips from Bahrain to Iraq to start Bahrain-Iraq, Economics, 12/20/1999
- Air connection between Cairo and Luxembourg Egypt-International, Business, 12/20/1999