Arabic News Weekly Edition for Economics, 7/9/2001
Weekly Edition, Economics - Week of July 9, 2001
- Egypt will strive to meet European standards
Prime Minister Atef Ebeid is aware that Egyptian industries are being placed in a vulnerable position, but he said that the agreement "will involve a modernization program for Egyptian industry and consequently Egyptian society, as we strive to meet European standards and set up the necessary infrastructure." Egypt-European Union, Economics, 7/14/2001 - Egypt agrees to organize international oil conference
Egyptian Oil Minister Sameh Fahmi Thursday said that Egypt had agreed to organize an international conference on oil in October of 2002. Egypt-Regional, Economics, 7/14/2001 - Arab- Sat profits were $ 49 million for 2000
The director general of the telecommunications establishment Muhammad Marouf has stressed that the Arab establishment for space telecommunications "Arab Sat" enjoys a good financial position as its profits for the year 2000 were $ 49 million. Regional, Business, 7/13/2001 - Spanish bank increases share in Morocco's Wafabank capital
Spain's banking and financial group, Banco Bilbao Vizcaye Argentaria (BBVA), has increased its shares in the Moroccan Wafabank from 8.11% to 11%. Morocco-Spain, Business, 7/13/2001 - Gov't offers incentives to investors reclaim Toshka, East Owinat
The Egyptian Prime Minister Atef Ebeid said the Cabinet approved offering incentives to investors to reclaim Toshka and East Owinat lands. About LE 25 million was allocated to finish the infrastructure projects needed to reclaim 40 000 feddans east the Suez Canal. Egypt, Economics, 7/12/2001 - Free zone area between Jordan, Israel
The Israeli radio on Wednesday unveiled that works have started to establish a free trade area between Israel and Jordan at the borders between the two sides at an area of 1500 dunnums and at a total cost estimated at more than $ 300 million. Jordan-Israel, Economics, 7/12/2001 - Iraq resumes oil exports Iraq, Economics, 7/12/2001
- Standard Poor's Rating Company visit Morocco
Top executives from the rating agency "Standard Poor's," currently on a visit in Morocco, met with industry, trade, energy and mining minister, Mustapha Mansouri. Morocco, Economics, 7/12/2001 - UMA meeting recommends creation of Maghreban employment data network
The 8th session of the Arab Maghreb Union ministerial council of training, employment and social affairs, which wound up in Tunis on Wednesday recommended the creation of a Maghreban data network of employment and vocational training. Maghreb, Economics, 7/12/2001 - Syria ratifies the establishment of a free trade area with Saudi Arabia Syria-Saudi Arabia, Economics, 7/11/2001
- Ebeid: Egypt, capable of facing 21st century challenges
"Egypt's economy is to be totally modernized to merger into world economy," said Prime Minister Atef Ebeid yesterday, stressing Egypt's ability to face the 21st century challenges and the globalization requirements. Egypt, Economics, 7/11/2001 - Egypt's economic credibility gains strong footholds
"Egypt's success at the international level soon upon releasing the dollar bonds clearly reflects its well-designed policies which mainly capitalize on the force of market mechanisms," experts added. Egypt, Economics, 7/11/2001 - Israel to renovate Turkish tanks
The Turkish Jeihan news agency said on Tuesday quoting well-informed sources that the American tanks of the Turkish land forces which are not less than 30 years old will be renovated by Israel. Israel-Turkey, Economics, 7/11/2001 - EU plans destruction of 75% of Spanish fishing fleet for failure of new agreement with Morocco
The European Union is planning to propose to Spain the destruction of 75% of its fleet that used to operate in Moroccan waters up to November 1999 when the Morocco-EU fishery agreement expired. Morocco-Spain, Economics, 7/11/2001 - Subscription to Egyptian dollar bonds closed
The first issue of Egyptian sovereign dollar bonds has witnessed unprecedented demand. Applying for subscription to these bonds were a host of financial establishments from Europe, the United States, investment banks, insurance companies, investment funds and big investors representing shareholding companies abroad. Egypt, Economics, 7/11/2001 - Water shortage in Jordan
The BBC correspondent in Amman said on Tuesday that Jordan at the meantime, suffers water shortage due to the drought inflected on it in recent years. Jordan-Syria, Economics, 7/11/2001 - Boom predicted for new fiscal year
The Egyptian Prime Minister Atef Ebeid presided over an expanded ministerial meeting that discussed policies and measures to begin to implement the General State Budget for the new fiscal year as of July 1, 2001, up to June 30, 2002. Egypt, Economics, 7/11/2001 - WB probes development strategies in Egypt over three years
Deputy Executive Director of the World Bank (WB) ambassador Mohammed Ramel Amr said that Egypt's name is not included in any of the Bank' s documents or any reports or studies anywhere in the world related to money laundering. Egypt, Economics, 7/11/2001 - Moroccan and french telecoms watchdog institutions sign cooperation agreement
The Moroccan and French telecoms watchdog bodies, Agency of telecoms regulation (ANR/Morocco) and and the telecoms regulation authority (ART/France) signed on Tuesday a five-year cooperation agreement. Morocco-France, Economics, 7/11/2001 - Yemeni president ratifies two agreements on oil production Yemen, Economics, 7/10/2001
- Arab banks pledge to develop financial industry
Secretary general of Arab Banks Union Fouad Shaker on Monday voiced the Union's commitment to serve banking sector, develop financial industry and boost cooperation between Arab bankers. Regional, Economics, 7/10/2001 - Deficit in trade balance goes down by L.E 319 million
The Egyptian deficit in the balance of trade dropped by LE 391 million to LE 7.598 billion in the period between January and March compared to LE 7.989 billion in the same period last year. Egypt, Economics, 7/10/2001 - Adopting successful economic policy attracts more investments into Egypt
World Bank (WB) experts said that the rate of attracting direct foreign investments (DFI) into Egypt reaches now 5.2 per cent out of the total investment capital. Egypt, Economics, 7/10/2001 - Improvement of investments boost Egypt's euro bonds' assessment Egypt, Economics, 7/9/2001
- Israel, the Palestinians and the water issue
News reports stated that the policy pursued by Israel concerning the issue of waters prohibits the Palestinians from their due shares of waters. A matter which pushed them ( the Palestinians ) to use polluted waters while the Israelis get the biggest share of fresh waters of which great part go to the Swimming pools in the Israeli settlements. Palestine-Israel, Economics, 7/9/2001 - 100 Palestinian companies ready to export products to Saudi Arabia
The Palestinian ministry of industry has announced that 100 Palestinian industrial companies in Palestine are ready to export products to Saudi Arabia. Palestine-Saudi Arabia, Economics, 7/9/2001 - North Africa's states scores higher rate of growth
The North Africa states, in general, achieved a 4.1 rate of growth against 3.8% in 1999. The trade balance deficit dropped by 40% Regional, Economics, 7/9/2001