Arabic News Weekly Edition for Economics, 1/31/2000

Weekly Edition, Economics - Week of January 31, 2000

• Supporting Kuwaiti investments in Egypt Egypt-Kuwait, Economics, 2/5/2000
• Turning Egypt air to a holding company
  Ibrahim El-Domairi, minister of the Egyptian transportation, said there is a development plan to turn EgyptAir airlines from a company of general public interest affiliated to the cabinet to a holding company in a period of six months. Egypt, Economics, 2/5/2000
• 4.2 billion dollars in Egyptian tourism; ambitious goals set
  Mamdouh El-Beltagi, the Egyptian tourism minister said there was an increase in Egypt's "tourism income for year 1999 to nearly 4.2 dollars and an increase in the tourist numbers who visited Egypt to 5 million." Egypt, Economics, 2/5/2000
• Meetings of the Egyptian - Jordanian committee - next week
  Cairo will host on 16th and 17th of current February meetings of the 16th session for the supreme Egyptian - Jordanian committee under the chairmanship of Egyptian prime minister Atef Ebeid and his Jordanian counterpart Abd El-Raouf El-Rawabdah in the attendance of large number of officials and the concerned ministers. Egypt-Jordan, Economics, 2/5/2000
• Spanish economic delegation expected in Morocco for new investments
  Victoriano Reinoso, a top executive of the firm, says it is time to start activities in Morocco which boasts sound economy, political stability and a new drive to modernize strategic sectors. Morocco-Spain, Economics, 2/5/2000
• Moroccan-Egyptian maritime transport commission meets in Cairo
  The Moroccan-Egyptian joint maritime transport commission is meeting here this Feb.5-6 to examine cooperation between the two countries in maritime transports, mainly a project to start a sea line. Egypt-Morocco, Economics, 2/5/2000
• Belgium Contributes to Drinking Water Project in Morocco
  Belgium has extended 130 million Belgian francs ($ 3.42 mln) to support a drinking water supply project to Moroccan southwestern rural areas. Morocco-Belgium, Economics, 2/5/2000
• International Air Companies Association Meets in Morocco Regional-Morocco, Economics, 2/5/2000
• Germany underlines the importance of peace in the Middle East Egypt-Germany, Economics, 2/4/2000
• US $850,000, the budget of the Arab economic unity council
  an executive program was laid to resume the implementation of the common Arab market's rules in the context of the Arab economic unity agreement as from January 1, 2000, according to the formula proposed by the general secretariat that provides for freeing Arab commodities and exempting them within three years. Regional, Economics, 2/4/2000
• Arab inter-trade committees ends talks in Cairo
  An official source at the economic division of the Arab League said that this committee, which is one of the committees of the Greater Arab Free Trade Zone, dedicated its meetings to discussing means of dealing with taxes and fees of similar impact in the framework of the free trade zone. Regional, Economics, 2/4/2000
• Syrian expatriates in Brazil to visit Syria in organized groups
  Syrian Minister of Tourism Danhu Dawoud has received a delegation representing the Syrian expatriates in Brazil, Fe-Arab. Syria-Brazil, Economics, 2/4/2000
• Youssoufi in Bangkok UNCTAD conference Morocco-International, Economics, 2/4/2000
• Mubarak to open first conference for the COMESA assembly in Cairo
  Egyptian President Hosni Mubarak will open the first conference for the COMESA assembly that will begin in Cairo on February 28 and last for two days. Egypt-Africa, Economics, 2/4/2000
• Syrian prime minister confers with Jordanian agriculture minister Syria-Jordan, Economics, 2/4/2000
• Releasing the Kenyan tea exports in Egypt Egypt-Kenya, Economics, 2/4/2000
• Developing Cairo International Airport
  The Arab Contracting Company, an Egyptian contracting company, is to develop Cairo International Airport on Monday as the airport will witness a real development in the arrival and departure halls and transit at a cost of LE 40 million, Transportatin Minister Ibrahim El-Demairi said in a press conference held yesterday evening. Egypt, Business, 2/4/2000
• Belgian economic delegation in Morocco Morocco-Belgium, Economics, 2/4/2000
• Inter-Arab conference on Arab city in 21st century Regional-Tunisia, Economics, 2/4/2000
• Egyptian company contributes to implementing electric station in Tunis
  An Egyptian contracting company won a contract worth $1.5 million to implement the operations of the basic infrastructure for an electric station, the second in Tunis. Tunisia-Egypt, Economics, 2/4/2000
• Egyptian-Turkish cooperation in oil exploration Egypt-Turkey, Economics, 2/4/2000
• Morocco, Libya endeavor to resume air flights, Youssoufi
  Morocco and Libya are endeavoring to resume air flights between the two states after Tripoli adopted a positive stand on the issue, said Moroccan Premier Abderrahmane Youssoufi. Morocco-Libya, Economics, 2/4/2000
• Establishing a Saudi company for investment with 100 million Riyals capital
  The Saudi businessmen's council decided to establish a holding company for joint investment in Saudi Arabia with a capital of 100 million Saudi Riyals. Saudi Arabia, Business, 2/4/2000
• Damascus: Unemployment rate 8%, will decrease when peace is made with Israel
  Syrian Minister of Labor and Social Affairs Ali Khalil on Wednesday expected the unemployment rate to be settled at 8% for this year, adding that this rate is to become lower if a peace agreement is reached between Syria and Israel. Syria, Economics, 2/4/2000
• German economic delegation to visit Egypt next week
  German Arab Chamber of Industry and Commerce is organizing in association with the German embassy in Cairo a visit by an economic delegation of the businessmen from Hamburg on February 6 - 10. Egypt-Germany, Economics, 2/4/2000
• LE 5 million for Egypt's participation in Expo 2000 in Germany
  Egyptian Prime Minister Atef Ebeid agreed on ratifying LE 5 million for the Egyptian participation in the EXPO 2000 fair that will be held in Hannover, Germany for five months starting from June 1 and running until the end of October. Egypt-Germany, Economics, 2/4/2000
• Egyptian economic delegation heads to Greece to look for export opportunities Egypt-Greece, Economics, 2/4/2000
• Decrease in Egyptian orange exports to Saudi Arabia
  A group of Egyptian orange exporters decided decreasing the quantities heading to Saudi Arabia by 1% after a retreat in the price per ton of more than $40 US at one time. Egypt-Saudi Arabia, Business, 2/4/2000
• Dubai Shopping Festival to host Disney's shows on ice
  The management of the fifth session of Dubai Shopping Festival, which will be held on March 1 - 31, decided to present the entertainment program for Disney on Ice to amaze the festival's visitors. United Arab Emirates, Economics, 2/4/2000
• Two companies inject $110 million in steel projects
  Two Moroccan companies will inject $110 million (1.1 billion Dh) in two steel projects in Casablanca and Jorf Lasfar, 170 KM south of Rabat. Morocco, Business, 2/4/2000
• Cairo hosts conference on Arab water security
  Arab League Secretary General Esmat Abdul Meguid will open on February 21 in Cairo the 8th conference on Arab Water security held by the Paris-based Arab-European Studies Center and the Arab League. Regional, Economics, 2/4/2000
• Morocco attends international colloquy on water in Paris
  Morocco will take part in an international colloquy on "water, territory planning and lasting development" to be hosted by Paris February 10-11. Morocco-International, Economics, 2/4/2000
• Cooperatives participate in promotion of Morocco-Egyptian exchanges
  The Moroccan Union of Cereals Cooperatives and the Scientific Association of Egyptian Cooperatives, have drafted, during a recent meeting in Cairo, a cooperation program for the year 2000. Morocco-Egypt, Economics, 2/3/2000
• Moroccan-Italian partnership day in Casablanca
  Casablanca played host Wednesday to a day on Moroccan-Italian partnership cochaired by visiting Italian Minister of Foreign Trade Piero Fassino and Moroccan Minister of Industry, Trade and Handicraft Alami Tazi. Morocco-Italy, Business, 2/3/2000
• Italian official calls for enhanced cooperation with Morocco
  Italian Foreign Trade Minister Piero Fassino has called for the consolidation of cooperation between Morocco and Italy to exploit the opportunities offered by the two countries. Morocco-Italy, Economics, 2/3/2000
• Arab civil aviation meeting in Rabat
  The executive council of the Arab Organization of Civil Aviation is currently meeting in Rabat to probe the organization's financial situation and reports of the commissions of transport, navigation and security standards. Regional, Economics, 2/3/2000
• Arab Gulf oil ministers meet this month in Saudi Arabia
  An official at the Qatari Ministry of Oil said on Wednesday that oil ministers of the Arab Gulf states will meet to discuss their strategy in Saudi Arabia on February 23, prior to the ministerial meeting of OPEC in Vienna in March. Regional-Qatar, Economics, 2/3/2000
• WB creates international consortium to reduce costs of natural disasters in developing world
  A new international consortium designed to reduce the human and economic costs of natural disasters in the developing world was launched Wednesday by the World Bank and an international coalition of governments, international organizations, private insurance companies, universities, and non-governmental organizations. Regional-International, Economics, 2/3/2000
• Yazghi reviews low-cost housing with Spanish delegation
  Housing Minister Mohamed El Yazghi conferred here with a delegation of the Spanish national association of low-cost housing firms and cooperatives. Morocco-Spain, Economics, 2/3/2000
• First auto racetrack in Egypt
  The Arc company for tourism and sports will start implementing the first racetrack for international auto races in Egypt with investments that reach $80 million. Egypt-International, Business, 2/3/2000
• Moroccan-Italian joint working group set up
  Morocco and Italy decided to set up a joint working group to give a new momentum to economic cooperation. Morocco-Italy, Economics, 2/2/2000
• Economic cooperation, focus of Italian minister's talks in Morocco
  Economic and financial cooperation between Morocco and Italy has been at the focus of talks Italian Foreign Trade Minister Piero Fassino held in Rabat Tuesday with several Cabinet members. Morocco-Italy, Economics, 2/2/2000
• World Bank official visits Egypt
  Nostafa Nabli, the senior economist in the World Bank for the Middle East and North Africa areas, arrived today in Cairo in the first visit by a high-ranking official in the bank after the agreement on the new cooperation strategy for discussing the role of the international corporation in the future to push forward Egyptian exports and support social development, as well as to apply programs for data and technology development in the country. Egypt-World Bank, Economics, 2/2/2000
• USD 283 million US dollars Italian investment in Egypt
  The second round of Egyptian-Italian economic talks has enabled Egypt to obtain investments totalling $ 283 million over the coming three years.The two sides highlighted the importance of Egyptian-Italian cooperation in relation to economic development in Egypt through the current projects at a total cost of $300 million. Egypt-Italy, Economics, 2/2/2000
• Foreign ministers of Islamic states meeting in June
  The foreign ministers of the Islamic states will convene in June in the Malaysian capital, Kuala Lumpur. Regional-OIC, Economics, 2/2/2000
• EU-Syria seminar on vocational education and training for economic development
  A seminar held under the title "Vocational education and training for economic development" is being held on February 1 - 3 at the Damascus Meridian Hotel. Syria-European Union, Economics, 2/2/2000
• Second Egyptian satellite to be launched in July
  It was decided to launch the second Egyptian satellite, Nilesat 102 into space through the European company Arianespace from its Kourou, French Guinea base in South America in July 2000 after finishing all the necessary tests before releasing this satellite into space. Egypt, Business, 2/2/2000
• Morocco earmarks $25 million to sports facilities
  Morocco will earmark a budget of $ 25 million to sports facilities, in support to Morocco's bid to host the 2006 soccer World Cup. Morocco, Economics, 2/2/2000
• Egypt to quickly build modern communication infrastructure
  President Hosni Mubarak reviewed Sunday the goals of the national plan for communications and information at a meeting with members of the Information and Technology Committee. Egypt, Economics, 2/1/2000
• Syrian prime minister confers with Lebanese transport minister
  Discussions dealt with cooperation and coordination relations between the two countries in the field of transport and means of developing and verifying them. Syria-Lebanon, Economics, 2/1/2000
• Syrian premier, ministers meets with Hannover mayor on bilateral ties
  Prime Minister Mahmoud al-Zou'bi on Monday in Damascus received the mayor of Hannover, Germany, Herbert Schemalstig, and members of the accompanying delegation. Syria-Germany, Economics, 2/1/2000
• Italian foreign trade minister in Morocco
  Italian Foreign Trade Minister Piero Fassino started this Tuesday a two-day official visit to Morocco. Morocco-Italy, Economics, 2/1/2000
• Egypt paid $355 million in debts
  The volume of Egypt's external debt retreated at the end of December 1999 as the debts' value nearly reached $18.7 billion in comparison to $29 million in September. Egypt, Economics, 2/1/2000
• UK tops non-Arab investors in Egypt
  Prime Minister Atef Ebeid Monday conferred with Brian Wilson, British Secretary of State for Trade and Industry at Scotland Office, on propelling Egypt-Scotland-Britain trade. Egypt-UK, Economics, 2/1/2000
• Egypt's economy, qualified for absorbing hi-tech Egypt-Denmark, Economics, 2/1/2000
• Israeli energy delegation to visit Jordan Jordan-Israel, Economics, 2/1/2000
• European Council endorses Morocco-EU association accord
  The European council endorsed the Morocco-European association accord that will come into force next March.The accord, signed in February 1996, provides for regular political dialogue between the two sides, the establishment of a free-trade area, and the consolidation of economic, financial, social and cultural cooperation in the framework of the MEDA program. Morocco-European Union, Economics, 2/1/2000
• Agreement for boosting economic cooperation between Egypt and Germany Egypt-Germany, Economics, 2/1/2000
• $2.5 billion in Israeli software exports Egypt-Israel, Economics, 2/1/2000
• Spanish firm invests $10 million in transport in Marrakesh Morocco-Spain, Business, 2/1/2000
• Moroccan, Chinese cities to be twinned
  The Moroccan northern city of Tangiers and China's Ching-Dao will be twinned, in a move meant to give a new impetus to economic and trade relations and cooperation. Morocco-China, Economics, 2/1/2000
• Intensive activity for training African personnel Egypt-Africa, Economics, 2/1/2000
• $400 million European loan for Egypt
  The European Investment Bank decided to present an easy loan of $400 million to Egypt to be used in production projects for export. Egypt, Economics, 2/1/2000
• International fair for airport equipment in Cairo Regional-Egypt, Business, 2/1/2000
• Three protocols signed to work in media free zone
  Three protocols were signed Monday to work in the Media Free Zone prior to signing the final contracts as soon as a decision is issued by the council of ministers to define the free media zone. Egypt, Business, 2/1/2000
• Government says no rise in petroleum byproducts
  The Moroccan government said petroleum products' prices will not be raised in the kingdom despite a hike in international oil markets. Morocco, Economics, 2/1/2000
• Tunisia hosts third Arab conference of electronicsx
  Tunisia will host the third Arab conference for electronics, communications and programs on May 25 - 27, in which 500 experts in the electronics field from the Arab and foreign states will participate. Regional-Tunisia, Economics, 2/1/2000
• $20 million in funds for Egyptian company for programs
  Many Egyptian and foreign financial and investment corporations agreed on establishing the first data and programming company in Egypt with a capital of $20 million. Egypt, Business, 2/1/2000
• Pharmacists probe in Marrakesh their role in 3rd millennium
  Over 600 pharmacists from Europe, Africa and Arab countries will meet in Marrakesh this Feb. 3-5 to examine perspectives of the industry in the 3rd millennium. Regional-Morocco-International, Business, 2/1/2000
• Indonesian Coalition Protests Foreign Loans
  An anti-loan coalition pointed out that Indonesia's current external debt of $150 billion have greatly impoverished the people, reports Indonesian news agency "ANTARA." Regional-Indonesia, Economics, 2/1/2000
• Morocco and Libya consolidate fishery cooperation
  Morocco and Libya agreed to consolidate cooperation relations in maritime fisheries through exchange of visits, data and scientific research. Morocco-Libya, Economics, 1/31/2000
• Indian information minister in Syria
  Indian minister of information Aroun Jeitli arrived in Damascus ended a three-day official visit to Syria. Syria-India, Economics, 1/31/2000
• Five US and European contracts for Syrian petroleum Syria, Business, 1/31/2000
• Yemeni - Qatari committee concludes in Sanaa
  The first session of the Yemeni - Qatari committee concluded yesterday in Sanaa, in which the sides were headed by Yemeni Finance Minister Alawi Salah al-Salami while the Qatari side was headed by Minister of Trade and Economy Yusif Husayn al-Kamal. Yemen-Qatar, Economics, 1/31/2000
• Minister urges US to use investment opportunities in Morocco
  Minister of industry, commerce and handicraft Alami Tazi urged the United States to make use of investment opportunities in Morocco. Morocco-USA, Economics, 1/31/2000
• Time's ripe for a new vision for the Middle East
  Foreign Minister Amr Moussa said that there is a new vision involving the Middle East at the start of the 21st century. Egypt-International, Economics, 1/31/2000
• Egypt's Industry achieves considerable growth in 1999
  The Ministry of Industry specified 2,363 projects during 1999 with capital investment of LE 8.681 billion. These projects' value of the annual production reached LE 16.641 billion providing 90,498 job opportunities with LE 534 million annual salaries. Egypt, Economics, 1/31/2000
• Economic growth increases in UAE
  A report released by the Ministry of Planning on Sunday said that the GNP in the United Arab Emirates has increased by 10% in 1999, due to the improvement in oil prices. United Arab Emirates, Economics, 1/31/2000
• New hotels in Syria
  Chairman of the international Starwood hotel and resort company for Africa, India and the Middle East, Sami al-Zoughbi, has announced that the company is building two Sheraton hotels in Syria, in Aleppo and Sednaya (near Damascus). Syria, Business, 1/31/2000
• Banana growers united to face competition and improve quality
  Banana producers in southern Morocco have set up an association to defend their industry against international competition and improve the quality of their produce. Morocco, Economics, 1/31/2000
• Paris club expected to reschedule $ 2.2 bln of Indonesia's debts
  Some $ 2.2 billion of Indonesia's foreign debts due in 2000 is expected to be rescheduled at a Paris Club meeting and possibly also at a London Club gathering in September, a World Bank official said here last week. Regional, Economics, 1/31/2000

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