Arabic News Weekly Edition for Economics, 3/27/2000

Weekly Edition, Economics - Week of March 27, 2000

• Iraq welcome UN Security Council decision to double funds for oil equipment
  The Iraqi government welcomed UN Security Council resolution concerning the doubling of specified money to it for rehabilitating the petroleum infrastructure in the frame of U.N. program for easing the effects of the economic sanctions on Iraq. Iraq, Economics, 4/1/2000
• German wins contract for establishing and managing two airports
  The Egyptian general organization for the civil aviation agreed on having German company A.P.P. establish Farafra and two airport (Wahat and El-Baharia) based on the B.O.T. (Build - Operate - Transfer) system. Egypt-Germany, Business, 4/1/2000
• WFP warns of looming famine in somalia
  The World Food Program warned Friday that a major famine disaster was in the offing in some parts of Somalia if the anticipated rainy season fails. Somalia, Economics, 4/1/2000
• A tour for the Egyptian businessmen in 3 European countries Egypt, Economics, 4/1/2000
• Annan appoints envoy on drought in horn of Africa
  Seeking to address a looming humanitarian crisis in the horn of Africa, UN Secretary-General Kofi Annan has appointed a special envoy on the drought in the region. Regional, Economics, 4/1/2000
• Moroccan business mission toured Asian nations
  A Moroccan businessmen delegation has just wound up a tour to Russia, Thailand, Singapore and Australia, where it examined ways to enhance business ties between Morocco and these countries. Morocco, Economics, 4/1/2000
• Morocco, Egypt may be included in MSCI index
  Morgan Stanley Capital international (MSCI) may include as of next November Morocco and Egypt on its list of emerging markets stock index, reported Bloomberg news agency. Regional, Economics, 4/1/2000
• Banks called to contribute in job creation in rural areas
  Moroccan economy and finance minister, Fathallah Oualalou called on the representatives of banking sector to contribute to the financing of job-generating projects in rural areas. Morocco, Economics, 4/1/2000
• Moroccan Cement Group's sales on the Rise Morocco, Business, 4/1/2000
• Morocco announces agricultural investments in southern provinces
  Morocco has announced a large scale investment program to promote agriculture in the southern provinces. Morocco, Economics, 4/1/2000
• Three international offers to finance the third stage of Cairo subway Egypt-International, Economics, 3/31/2000
• Solidarity, increased production in next finance bill
  The next finance bill will be based upon solidarity principles and production enhancement, said Thursday Economy and Finance Minister Fathallah Oualalou in the weekly government council meeting. Morocco, Economics, 3/31/2000
• 70 projects in Mediterranean - European cooperation program for developing Egyptian private sector Egypt-European Union, Economics, 3/31/2000
• Foreign investment of one billion LE in supermarkets in Egypt
  The French Carrefour and German Metro companies started studying the Egyptian market concerning supermarkets after the success of the British Sainsbury company in entering the Egyptian market quickly. Egypt-International, Business, 3/31/2000
• First water project on BOT system in Tunis
  The Tunisian government agreed on granting the establishment and operation of the water stations of the capital, Tunis, to an alliance of companies that includes French, German, British, and Tunisian companies whose investments reach $100 million. The projects will serve 700,000 persons in Tunis. Tunisia, Business, 3/31/2000
• Lufthansa to establish sales bureau in Beirut Lebanon-Germany, Business, 3/31/2000
• UNCTAD says Africa may lose out in globalization
  UNCTAD secretary-general Rubens Recupero has alarmed that dangers are looming over Africa due to globalization. Regional-Tunisia-Africa, Economics, 3/31/2000
• French donation of one million euros for Lebanon
  The French agency for development decided to grant Lebanon one million euros as a donation to prepare for a study concerning municipal and health services projects. Lebanon-France, Economics, 3/31/2000
• Conference for Arab financial markets in May
  The sixth annual conference for the Arab financial markets will be held in May in Beirut, Lebanon. Regional, Economics, 3/31/2000
• Oman to host oil exhibition Oman-Regional, Economics, 3/31/2000
• Drought threatens over 12 million in African Horn Regional, Economics, 3/31/2000
• Algeria plans to auction mines Algeria, Economics, 3/31/2000
• Egypt - US Information Industry Partnership
  US Vice President Al Gore, during his meeting with President Mubarak, said" he is personally interested in transferring the American technology to Egypt". Egypt-USA, Business, 3/30/2000
• Mubarak - Gore joint statement
  Egyptian President Hosni Mubarak and US Vice President Al Gore issued a statement on Tuesday after they met to discuss the U.S.-Egypt Partnership for Economic Growth, established by the two officials in 1994 "to enhance efforts to achieve market-oriented economic growth in Egypt." Egypt-USA, Economics, 3/30/2000
• International zoo for rare birds in Shamal Sinai Egypt, Economics, 3/30/2000
• Syrian expatriates are called on to invest back home
  Syrian Minister of the Economy and Foreign Trade Muhammad al-Imadi has called on the Syrian expatriates to invest their money in Syria. The minister stated that the plan to amend investment law no. 10 will meet the various needs of investors. Syria, Economics, 3/30/2000
• Conference for Egyptian businessmen abroad in May
  The general Egyptian organization for investment and free zones will organize in May the eighth session of the conference for Egyptian businessmen abroad. Egypt-International, Business, 3/30/2000
• IBM invests 150 million LE in Egypt Egypt-USA, Business, 3/30/2000
• Arab economists call for Arab economic summit
  Arab economists have called the Arab League to convene an economic summit to debate the latest developments of world and regional economy and their incidence on Arab economic security. Regional, Economics, 3/30/2000
• Morocco - US council holds meeting in Rabat
  The Morocco-US Council on Investment and Trade held Tuesday a meeting in Rabat to assess past and future actions. Morocco-USA, Economics, 3/30/2000
• Morocco projects 3% growth rate in 2000
  Morocco will post a growth rate of 3% in 2000, Moroccan Economy and Finance Minister Fathallah Oualalou said on Wednesday. Morocco, Economics, 3/30/2000
• Egyptian company for implementing BOT projects 30 million LE
  A group of Egyptian companies working in the field of construction decided to establish a new company to run and implement projects on the BOT (build- operate- transfer) system in Egypt and the Arab states with 30 million LE in capital that will named "Alexandria for investment and development." Egypt, Business, 3/30/2000
• Egyptian - Indian business council meetings in New Delhi next month Egypt-India, Economics, 3/30/2000
• Egypt to participate in Tripoli International Fair in Libya
  Egyptian Minister of Economy and Foreign Trade Yusef Boutros Ghali agreed on the participation of Egyptian products in the Tripoli International Fair, which will be held on April 5th - 20th on 770 squared meters and which will comprise products from large Egyptian companies. Egypt-Libya, Economics, 3/30/2000
• Morocco's largest private company Omnium Nord Africain increase sales by 36 percent
  The sales of Omnium Nord Africain (ONA), Morocco's largest private company, increased by 36% in 1999 compared to the previous year, ONA chief Murad Cherif said. Morocco, Business, 3/30/2000
• German holding projects to construct holidays club in Agadir
  A German tourism holding "Aldiana" is projecting to construct a holiday club with a 1,000 bed capacity in the Moroccan southern city of Agadir. Morocco-Germany, Business, 3/30/2000
• Morocco 2000 exhibition opens in London
  The exhibition that was dedicated by Moroccan Minister of Trade, Industry and Handicraft Alami Tazi is displaying ready-to-wear garments, leather products, handicraft items, processed sea products, ceramics, furniture, sporting equipment, telecommunication devices and others. Morocco-UK, Economics, 3/30/2000
• US company PSINet raises investment volume in Egyptian market
  Egyptian sources said that the US company PSINet, which works in the areas of internet, data technology and communications, is studying increasing its investments in Egypt in the sectors of developing data and communications, saying the US company got the Egyptian government's consent to establish a factory in 6th of October City and that it will cooperate with Egyptian companies to develop software and communications. Egypt-USA, Business, 3/30/2000
• Posada confident Morocco - EU fishery talks in April
  Spanish Minister of Agriculture and Fisheries Jesus Posada said he was confident Morocco-European Union fishery talks would start in April, reports "EFE." Morocco-Spain, Economics, 3/30/2000
• Medi-Telecom operates second GSM network in Morocco
  The Spanish-Portuguese-Moroccan consortium "Medi-Telecom" activated Wednesday in Morocco its "Meditel" GSM network, eight months after it bought the license $1.08 billion from the Moroccan state. Morocco, Business, 3/30/2000
• Losing Royal Air Maroc contract would be frustrating for Airbus industries
  The chairman of Airbus Industries, N. Forgeard, said it would be very frustrating for his group not to get the Royal Air Maroc "RAM" contract for the purchase of 24 aircrafts. Morocco-France, Business, 3/30/2000
• Increasing capital of Islamic Development Bank to $8 billion
  The board of directors of the Islamic Development Bank (headquartered in Saudi Arabia) decided to increase the bank's capital to $8 billion due to the number of Islamic states that are join its membership, like the Islamic republics in the former Soviet Union and some countries in Eastern Europe as well as Central Asia. Regional, Economics, 3/30/2000
• Moroccan official meets businessmen in London; Hain to visit Rabat
  Moroccan Minister of Trade, Industry and Handicraft Alami Tazi held meetings in London Tuesday with heads of several British enterprises. Morocco-UK, Economics, 3/29/2000
• Morocco, Egypt to promote cooperation in housing and town planning Morocco-Egypt, Economics, 3/29/2000
• Moroccan - American commerce and investment partnership
  The Moroccan-American trade and investment council and the Al Akhawayn University passed here Tuesday a partnership agreement meant to enhance exchanges and promote research and joint organization of events. Morocco-UK, Economics, 3/29/2000
• Saudi Arabia to allow greater foreign investment Saudi Arabia, Business, 3/29/2000
• OPEC agrees to raise output Regional, Economics, 3/29/2000
• GMPCS and Globalstar services made available in Morocco Morocco, Business, 3/29/2000
• ECA sub-regional center experts convene in Tangier Morocco-Africa, Economics, 3/29/2000
• Report: Undeclared measures to boost the Syrian economy
  The Jordanian weekly al-Hadath quoted well-informed sources as saying that more than 100 figures, the majority of them Syrian expatriates who are of rich traders and capital owners, will start convening an unofficial and undeclared conference in Damascus at the initiative of the new government of Syrian Prime Minsiter Muhammad Miro in order to draw the basis and new mechanism for the future of the country. Syria, Economics, 3/28/2000
• More trade among Tunisia and the Arab states
  The volume of commercial exchange among Tunisia and the Arab states reached 844 million Tunisian dinars during 1999 in comparison to 769 million dinars during 1998. Tunisia, Economics, 3/28/2000
• Arab Economists Convene For Their 13th Conference In El Jadida Regional, Economics, 3/28/2000
• Establishing a governmental Egyptian company for technological development
  The Egyptian Ministry of Communications and Technology started taking the executive steps to establish a holding company for technological development with a capital of 30 million LE. Egypt, Business, 3/27/2000
• US partnership progam grows
  Minister of Finance Dr. Medhat Hassanein said Saturday night that the Egyptian-US partnership is a sustained process that covers economic, trade, development, finance and funding areas. Egypt-USA, Economics, 3/27/2000
• Mubarak reviews economic reform program with American officials
  President Hosni Mubarak is due to review during his talks with American Administration Officials Egypt's new long term economic reform program. Egypt-USA, Economics, 3/27/2000
• Egyptian exports to US, promoted
  President Hosni Mubarak conferred late Sunday with US Secretary of Commerce, William Daley. Egypt-USA, Economics, 3/27/2000
• Water cooperation between Jordan and Libya
  Jordanian Minister of Water and Irrigation Kamel Mahadin stated that the aim of his visit, together with an accompanying delegation, to Libya is to complete discussions with Libya on financing the implementation of extending al-Debesi project from southern Jordan to Amman and means of financing and running this project. Jordan-Libya, Economics, 3/27/2000
• Diplomatic circle charity bazaar in Rabat Morocco-International, Economics, 3/27/2000
• Egypt: A campaign to market Egypt's celebrations of anniversary of the holy family's arrival Egypt, Economics, 3/27/2000
• Dubai inaugurates official stock market
  The emirate of Dubai inaugurated Sunday its domestic high-tech stock market with the hope of luring more investors to the more regulated and more transparent market. United Arab Emirates, Business, 3/27/2000
• Economic growth in Yemen
  Yemen's minister of planning and development, Ahmad Muhammad Soufan, has stated that Yemen's economy scored a growth estimated at 4.5% in 1999 as a result of the economic reforms the country started in 1995. He expected growth to reach some 5.5% this year. Yemen, Economics, 3/27/2000
• USA considers its options as oil prices increase
  Senator Fred Thompson, Chairman of the US Senate Governmental Affairs Committee, held a hearing on the rising oil prices where a barrel of oil on world markets has risen from near $10 dollars a barrel to near $30. Regional, Economics, 3/27/2000
• Company to make moped bikes for handicapped
  SMACIT, a company based in the industrial zone of the Moroccan southern city of Laayoune, will manufacture three-wheeled moped bikes for the handicapped. Morocco, Business, 3/27/2000
• First Four Seasons Hotel to open in Cairo
  The Four Seasons company is getting ready to open its first hotel in the Middle East in April in Cairo, Egypt, with a capacity of 273 rooms and a luxury wing. Egypt, Business, 3/27/2000
• Mauritania issues new bank notes Mauritania, Economics, 3/27/2000
• 10,000 tourism nights because of golf sport
  Kamal Okasha, chairman of golf travel company which specializes in this field, said 1,700 golf players visited Egypt during the tourism season in 1998 - 1999. Egypt, Business, 3/27/2000
• An international conference in Hurghada for the third generation of mobile phones
  Works of conference of IMT 2000, specified for discussing the third generation of mobile phone, are to start tomorrow in Hurghada and last for four days. Regional-Egypt, Business, 3/27/2000

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