Arabic News Weekly Edition for Economics, 3/20/2000

Weekly Edition, Economics - Week of March 20, 2000

• Egypt makes a positive environment for investors. Regional, Economics, 3/25/2000
• Decrease in commercial exchange between Egypt and USA Egypt-USA, Economics, 3/25/2000
• US experts stress importance of technological file in Egyptian-US talks
  US information technology experts stressed the importance of the technological file in Mubarak’s visit to the US, that started Friday. Egypt-USA, Economics, 3/25/2000
• Cooperation with American states stressed
  Foreign Minister Amr Moussa Friday stressed Egypt's interest in cementing ties with American States. Egypt-USA, Economics, 3/25/2000
• France seeks to expand on its 8 percent of total investments in Egypt
  France's share of the total investments in Egypt reached 8% inside the Egyptian market. Egypt-France, Economics, 3/25/2000
• $8 billion in profits for Arab banks in 1999 Regional, Business, 3/25/2000
• Annual conference for the Egyptian and Tunisian businessmen
  Abd El-Sattar Ashara, secretary general of the Egyptian trade chambers union, asserted that it has been agreed between the Egyptian and Tunisian businessmen to establish an annual conference to be held alternately in Cairo and Tunis to work on increasing commercial exchange and pushing forward the joint investments. Egypt-Tunisia, Economics, 3/25/2000
• Japan loans Morocco's water company 5.4 million yens Morocco-Japan, Economics, 3/25/2000
• Germany's Lufthansa suspends two flights to Morocco Morocco-Germany, Business, 3/25/2000
• A tour by petroleum minister of Venezuela to the Arab area
  Venezuelan Petroleum Minister Ali Rodriguez is currently making a tour of some of the petroleum-producing Arab states beginning with Libya to prepare for the OPEC meeting in Vienna at the beginning of next month. Libya-Regional-Venezuela, Economics, 3/25/2000
• Moroccan - Egyptian trade commission to meet in Cairo in April
  The Moroccan-Egyptian trade commission will meet in Cairo on April 5 to examine means to upgrade trade exchanges between Morocco and Egypt. Egypt-Morocco, Economics, 3/25/2000
• French - Spanish holding to build power station in Morocco
  A French-Spanish holding, led by French Alstom Hydraulique, won a tender to build an electric 450 megawatts power station in the region of Beni Mellal, central Morocco. Morocco-International, Business, 3/25/2000
• Plan aims at developing Arab industry
  The Arab organization for industrial development and mining is seeking to develop Arab industry through a specific work strategy aimed at developing Arab economics and supporting its capabilities in fields of industry, mining and energy. Regional, Economics, 3/25/2000
• IMF: Egypt proceeds on right way
  On the sidelines of the activities of the Egyptian "Door Knock Mission" currently visiting the USA,. Dr. Abdul Shakour Shaalan, representative of the Arab States to the International Monetary Fund (IMF) said Egypt is proceeding on the right way towards sustainable economic reform and there are no points of difference between Egypt and the IMF. Egypt-IMF, Economics, 3/25/2000
• Qatar to host the eighth Islamic commercial fair in October
  The seventh meeting for businessmen in the Islamic countries will be held in Qatar on October 5 - 17, which coincides with the eighth Islamic commercial fair which will begin in the middle of the same month in the framework of the activities of the Islamic summit that will be hosted by the Qatari capital. Regional-International, Business, 3/25/2000
• Arab - African conference on informatics winds up
  The Arab-African conference on the promotion of the computerization of the sectors of employment and vocational training wound up in Rabat on Thursday with a call to reinforce exchange of experiences between the participating countries. Regional, Economics, 3/25/2000
• Establishing an Egyptian - Ugandan Company
  The first Egyptian - Ugandan company will be established this week with a primary capital reaching 100 million Ugandan shillings ($100,000), as the company aims at exporting Ugandan goods abroad, including agricultural products and leather, in addition to presenting services the Ugandan market needs. Egypt-Uganda, Business, 3/25/2000
• New projects for producing Egyptian natural gas
  Two new projects for producing 600 million cubic feet of natural gas daily from the fields of western Sahara Egypt, Business, 3/25/2000
• Fair coming for Kuwaiti products in Jordan
  The Jordanian capital, Amman, will host in May a fair for Kuwaiti products with the participation of more than 40 companies. Jordan-Kuwait, Economics, 3/25/2000
• Moroccan highway pay system: French company wins bid
  A French company, "Grenobloise d'electronique et d'automatismes" (GEA), has won the bid to equip a Moroccan highway with the electronic pay system. Morocco-France, Business, 3/25/2000
• China loans Morocco $3.6 million
  China will extend Morocco a loan worth $3.6 million to back the country's development process. Morocco-China, Economics, 3/25/2000
• Beirut to host Arab tourism exhibition
  The 5th Arab world tourism and travel exhibition (AWTTE 2000) will be held in Beirut, Lebanon, Mar 30-April 2. Regional-Lebanon, Business, 3/25/2000
• London to host Moroccan textile exhibition
  Moroccan Industry, Commerce and Handicraft Minister Alami Tazi is expected in London Sunday to dedicate a Moroccan textile and garments exhibition "Vetma" and commercial fair "Morocco-2000." Morocco-UK, Economics, 3/25/2000
• Exhibition on quality opens in Casablanca
  The 2nd exhibition of quality solutions and techniques (Solutech 2000) opened in Casablanca on Thursday under the theme "quality approach, a winning strategy." Morocco, Business, 3/25/2000
• Spanish air company services Granada - Marrakesh
  The Spanish air company "Binter" has started servicing a weekly flight between Granada and Marrakesh. Morocco-Spain, Business, 3/25/2000
• Tangiers hosts training on agricultural projects in Africa
  A training session on "preparation and assessment of agricultural projects in Africa" will be held in the Moroccan northern city of Tangier April 3-21. Regional-Morocco-Africa, Economics, 3/25/2000
• USA makes a positive environment for investors. Regional, Economics, 3/24/2000
• Agreement by Egyptian - European partnership to increase the volume of Egyptian exports by 300 percent
  Gamal Baoumi, Egypt's assistant foreign minister for European affairs, stated that that the expected signing of an agreement on Egyptian - European partnership would lead to increasing Egyptian agricultural exports to the countries of the European Union by 300%. Egypt-European Union, Economics, 3/24/2000
• Increasing international investments for drilling petroleum in Egypt Egypt, Business, 3/24/2000
• Establishing a bureau for Japanese investment in Egypt Egypt-Japan, Economics, 3/24/2000
• Egypt specifies 8 billion L.E to establish new roads
  Egyptian Transportation Minister Ibrahim El-Domairi said seven new roads will be established at a cost of 8 billion L.E during the next three years on the BOT (build- operate- transfer) system. Egypt, Economics, 3/24/2000
• Morocco can contribute to globalization, US diplomat
  Only 8% of trade in the Middle-East and North Africa is intra-regional, compared to 20% in the Americas or 60% in Europe. "Trade between neighbors is vitally important to a nation's economy," US ambassador to Morocco, Edward Gabriel said, adding "this is what the Eizenstat initiative seeks to support." Morocco-USA, Economics, 3/24/2000
• Coca-Cola starts export operations Egypt, Business, 3/24/2000
• Union of Italian tourism companies meets in Cairo Egypt-Italy, Economics, 3/24/2000
• $38 million to rent channels of Nilesat 102 annually
  The Egyptian satellite company Nilesat finished setting the prices to renting the working channels on the second Egyptian satellite, Nilesat 102, which will be released in September. Egypt, Business, 3/24/2000
• Morocco calls for a Davos-like Arab forum
  Morocco has called for a Davos-like Arab forum, that would group political and business leaders of several countries. Morocco-Regional, Economics, 3/24/2000
• King Mohammed hails fruitful Morocco-IMF cooperation
  King Mohammed VI hailed fruitful cooperation relations that have always dominated relations between Morocco and the International Monetary Fund (IMF) within the scope of a global reform strategy meant to make of men and socio-cultural aspects the cornerstone of economic growth. Morocco-IMF, Economics, 3/24/2000
• A mission from the international monetary fund visits Egypt Egypt-IMF, Economics, 3/24/2000
• Strategy of electricity and energy until the year 2010, reviewed
  President Hosni Mubarak reviewed last week the strategy of the sector of power and energy until the year 2010. Egypt, Economics, 3/24/2000
• China to extend loan to Morocco
  China has decided to extend Morocco an interest-free loan to back the country's development process. Morocco-China, Economics, 3/24/2000
• Establishing National Bank of Egypt branch in New York Egypt-USA, Business, 3/24/2000
• 250 million LE to establish the first private Egyptian company for satellite channels
  A group of Egyptian businessmen and artists started establishing the first private Egyptian company for a satellite channel with a capital of 250 million L.E. Egypt, Business, 3/24/2000
• Saudi businessman invests $22 million in tourism project in Morocco
  Saudi businessman Sheikh Salah Kamal Ali is to inject $22 million in a luxury tourism project in the southern Moroccan city of Agadir. Morocco-Saudi Arabia, Business, 3/24/2000
• First company established to insure electronic trade in Cairo Egypt, Business, 3/24/2000
• Indian electronics and software exports exports to Gulf states on the rise
  Indian electronics and software exports to the Gulf states increased during 1998-99 wherein black and white televisions constituted a major item, the Press Trust of India PTI said. Gulf-India, Economics, 3/24/2000
• 23 countries to participate in Arab COM 2000 in Lebanon
  Beirut is hosting tomorrow for the third straight year the international Arab conference and fair for developing communications in the Arab states, Arab COM 2000, which will last until March 28. Regional, Economics, 3/24/2000
• Egypt Wants to build Silicon Valley with US cooperation
  Foreign Minister Amr Moussa Tuesday night told the Commonwealth Club in San Francisco that Egypt has ushered, in the new millennium, with an ambitious national project for a comprehensive technology revival. Egypt-USA, Economics, 3/23/2000
• 16% growth average in Egyptian tourism Egypt, Economics, 3/23/2000
• Morocco, France to set up cooperation task force
  Morocco and France agreed to set up a high level task force to enhance bilateral cooperation. Morocco-France, Economics, 3/23/2000
• Seven small industrial groupings to be established in Egypt Egypt, Business, 3/23/2000
• $2.3 billion in U.S. investments in Egypt
  The volume of U.S. investments in Egypt reached $2.3 billion, in addition to $600 million in investments in the bond field. Egypt-USA, Economics, 3/23/2000
• Lebanon: 30 Million euros for Lebanese hotels
  A loan of 30 million euros presented from the European Investment Bank to the Lebanese government started being carried out in Beirut to develop the Lebanese hotels. Lebanon-European Union, Economics, 3/23/2000
• Orascom purchases 25% of the mobile phone net in Pakistan
  The Egyptian Orascom Telecom company purchased 25% of the shares of the mobile telephone network in Pakistan. Egypt-International, Business, 3/23/2000
• Morocco launches last phase of telecoms sale
  Morocco on Wednesday issued an international tender to sell up to 35% of state-run Maroc Telecom, it was officially announced in Rabat. Morocco, Business, 3/23/2000
• Nigeria signs aid agreements with EU
  Nigeria Wednesday signed three development funding agreements worth some 32.8 million euros with the European Union, signalling the restoration of development assistance suspended during the last five years of military rule in the country. Regional, Economics, 3/23/2000
• 353,000 tourists visited Egypt in December
  The Egyptian central bank said in its monthly news yesterday that nearly 353,000 tourists visited Egypt in December 1999, a decrease from the November numbers of 459,000 visitors but still an increase from last year's 301,000 visitors in December 1998. Egypt, Economics, 3/22/2000
• Paris swaps part of Morocco's debt, extends Rabat FF 100 million
  Paris okayed the swapping into investment of 700 million FF of Moroccan debt and extended Rabat 100 million FF to alleviate drought effects and fund development projects in northern Morocco. Morocco-France, Economics, 3/22/2000
• British Trade Mission in Morocco Morocco-UK, Economics, 3/22/2000
• Oman eliminates obstacles to joining WTO
  A high-ranking Omani official said on Tuesday that his country has eliminated during talks in Geneva the main obstacles before joining the membership of the World Trade Organization. Oman, Economics, 3/22/2000
• World bank loans Yemen $ 28.9 mln Yemen-World Bank, Economics, 3/22/2000
• Malaysia, Yemen sign pact on education
  Malaysia and Yemen signed an agreement Tuesday on cooperation in the field of education. Yemen-Malaysia, Economics, 3/22/2000
• Indonesia, Algeria sign cooperation agreements
  "The main priority was to increase the volume of trade, particularly in oil and gas," Indonesian Foreign Affairs Minister Alwi Shihab said in a press release issued by the Indonesian embassy in Algiers. Algeria-Indonesia, Economics, 3/22/2000
• $250 million for upgrading Abu Dhabi airport
  A plan for upgrading Abu Dhabi airport will start at the beginning of next year at a cost of $250 million. United Arab Emirates, Economics, 3/22/2000
• Italian businessmen in Morocco
  The delegation represents small and medium enterprises from the region of Marches operating in the sectors of wood, agricultural machinery, fishing gear, electronics, ready-to-wear, mechanics and chemistry. Morocco-Italy, Business, 3/22/2000
• Egypt comes 7th among emerging markets
  Egypt's ranking in the world's emerging markets has improved as it occupies now the seventh position among other 34 markets in terms of dividends in February hitting 3.6 per cent, a report issued this week by the Ministry of Economy and Foreign Trade on the performance of emerging markets said. Egypt, Economics, 3/22/2000
• President Hosni Mubarak keen to promote technological development, industry
  President Hosni Mubarak convened an extended ministerial meeting to discuss Egypt's ambitious industrial and technological development program. Egypt, Economics, 3/22/2000
• Arab - African conference on computer systems opens Regional, Business, 3/22/2000
• 100 Egyptian and European companies in European- Mediterranean partnership conference in Cairo Egypt-European Union, Economics, 3/21/2000
• Little Gulf investments in Morocco
  Although Morocco is a country with a growing economy and blessed with a prime geographic location close to Europe, few Gulf investors have risked their money in the country, Moroccan Minister of economy and finance, Fathallah Oualalou said. Morocco-Kuwait, Economics, 3/21/2000
• Venezuelan minister in Iraq Iraq-Venezuela, Economics, 3/21/2000
• UAE takes on road project United Arab Emirates, Economics, 3/21/2000
• 418 million German marks in donations and loans to Egypt
  The Egyptian government received 418 million marks as donations and loans to Egypt during last year. Egypt-Germany, Economics, 3/21/2000
• Bahrain chamber looks at impact of international companies on small businesses Bahrain, Business, 3/21/2000
• Parking facilities in Tangier free trade area
  The project will be carried out by Afriquia (Morocco), Accor (France) and Ter Tir (Portugal) groups under an accord concluded here Monday between these groups and the company in charge of the free trade area. Morocco, Business, 3/21/2000
• Regional encounter on telecommunication held in Rabat
  A regional meeting on telecommunications is held in Rabat March 20-22 with the participation of telecommunications experts from North Africa and the Middle East. Regional-Morocco-Africa, Business, 3/21/2000
• Morocco, Belgium sign cinema agreement Morocco-Belgium, Economics, 3/21/2000
• Qatar using more expatriate labor Qatar, Economics, 3/21/2000
• Iraq asks to price oil above market Iraq, Economics, 3/21/2000
• Paris club cancels Mauritania's $80 million debt
  The informal Paris Club of donor countries meeting last week in the French capital agreed to cancel some $80 million of Mauritania's external debt, Africa Number One Radio monitored in Paris reported. Mauritania-International, Economics, 3/20/2000
• An Egyptian program for increasing exports to Japan Egypt-Japan, Economics, 3/20/2000
• Egypt will not export natural gas to Israel
  Egypt eventually closed the door for Israel to import gas after that door had been ajar since 1993 and sometimes wide open, with Cairo and Ankara signing an agreement in principle on a gas transaction worth $10 billion that will be carried out in 2001. Egypt-Turkey, Economics, 3/20/2000
• Turkish official calls for settling water disputes with Damascus, Baghdad
  A Turkish official stressed on Sunday, on the sideline of the world forum on water currently being held in the Hague, the need of reaching an agreement between Turkey and its neighbors in the south, Syria and Iraq, with the aim of sharing the waters of the Tigris and the Euphrates rivers. Regional-Turkey, Economics, 3/20/2000
• Five international institutions praise Egypt's commitment to reimburse debt
  Five international finance institutions praised Egypt's commitment to reimburse foreign debt and its interests in the scheduled time. Egypt-International, Economics, 3/20/2000
• Israel bans importing animals from the Palestinian authority Palestine-Israel, Economics, 3/20/2000
• Morocco to participate in Hanover universal exhibition
  Morocco will participate in the Hanover universal exhibition slated for June 1st through October 31 under the topic "man, nature, technology." Morocco-Germany, Economics, 3/20/2000
• Annan reports on Iraq
  UN Secretary General Kofi Annan presented a report on the situation in Iraq to the UN Security Council, placing emphasis on streamlining the processes used in the oil-for-food agreement beyond simply increasing the amount of funds available within the program. Iraq-UN, Economics, 3/20/2000

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