Arabic News Weekly Edition for Economics, 12/31/2001
Weekly Edition, Economics - Week of December 31, 2001
- King Mohammed briefed on one year of Vivendi universal activity in Morocco
Morocco's King Mohammed VI received in Agadir Friday chairman and chief executive officer of Vivendi Universal, Jean-Marie Messier, who briefed him on the 1st year of activity of his group in Moroccan telecoms, and water-electricity supply and sanitation in the northern cities of Tangiers and Tetuan. Morocco, Business, 1/5/2002 - African Development Bank approves $1.6 billion loan to Egypt
The African Development Bank (ADB) approved yesterday giving Egypt a loan worth $ 1.6 billion, said the Bank's permanent representative in Egypt Mohammed Hamidoush. Egypt, Economics, 1/5/2002 - Ebeid: Government is committed to increase income
Egypt's Prime Minister Atef Ebeid is to raise before President Mubarak the main guidelines of the government policy statement which he will make before the People's Assembly on Tuesday. Egypt, Economics, 1/5/2002 - Morocco's trade deficit alleviated by 2.4% in oct.2001
Morocco's trade deficit reached at the end of October 2001 some 36.25 billion DH (US$ 3.15 billion), a 2.4% decrease compared to the same period of 2000. Morocco, Economics, 1/5/2002 - Value of Morocco's grain imports increase despite lower quantities Morocco, Economics, 1/5/2002
- Morocco's textile and leather exports rise by 4.9%
Exports of Moroccan textile and leather items reached 24.7 billion Dirhams (US$ 214 Mln) by the end of October 2001, which makes a rise of 4.9% in comparison with 2000. Morocco, Economics, 1/5/2002 - L.E 15 billion allocated to subsidize oil products this year
Egyptian Minister of Petroleum Sameh Fahmy said the oil products will be subsidized this year by LE 15 billion as a result of prices difference between the local and international ones in addition to the current high dollar exchange rate. Egypt, Economics, 1/5/2002 - Morocco's electric and electronic exports drop by 4.9% in 2001
Morocco's exports of electric and electronic devices reached 5.6 billion Dirhams (US$ 487 Mln) by the end of October 2001, recording a drop of 4.9% compared to 2000. Morocco, Economics, 1/5/2002 - Qatari investment projects estimated at USD 19 billion
Qatar's minister of energy and industry Abdullah al-Ateyah has announced that the volume of investments will be USD 19 billion in the five coming years in the sector of energy which has been greatly booming in Qatar. Qatar, Economics, 1/4/2002 - Drastic deterioration for Jordanian underground waters
A Jordanian official report has unveiled the grave condition of underground waters which has been drastically exploited. Jordan, Economics, 1/4/2002 - Unemployment in Israel
The Israeli government announced on Wednesday that it has banned the foreign labor force from working in Israel in an attempt to fight the escalated unemployment in Israel. Israel, Economics, 1/4/2002 - Syria bans two shipment ships Syria-Israel, Economics, 1/3/2002
- Israel will not take part in any of the Egyptian expositions Egypt-Israel, Economics, 1/3/2002
- Saudi Arabia bans relations with a Cypriot company
The Saudi ministry of trade has banned dealing with one of the Cypriot companies " Vetagrecaltid " after it was proven it had exported commodities of an Israeli origin to the Arab states. Saudi Arabia-Israel, Economics, 1/3/2002 - Government is keen to provide and improve services extended to citizens
Egyptian Prime Minister Atef Ebeid said that in the reign of President Hosni Mubarak, no citizen would be deprived of receiving services at the highest level, whatever the citizen's financial capacity. Egypt, Economics, 1/3/2002 - Unemployment in Bahrain
Bahrain's minister of social affairs and labor Abdul Nabi al-Shu'llah said on Wednesday that the rate of unemployment in Bahrain reached 5% of the total labor force in the country whose population tolled 651,000, with more than one third of them are foreigners. Bahrain, Economics, 1/3/2002 - A new study for al-Wahda dam
The Jordanian daily al-Dostour said on Wednesday, according to well-informed Jordanian sources that a new study for al-Wahda dam due to be installed at al-Yarmouk river between Syria and Jordan was completed last week. Jordan-Syria, Economics, 1/3/2002 - Arab ministers probe inter-Arab tourism increase
The 8th executive committee of the Arab tourism ministers will meet in Cairo next Sunday to probe means to increase inter-Arab tourism. Regional, Economics, 1/3/2002 - Arabs and the World Trade Organization
The chairman of the Arab economic scientific complex Talal Abu Ghazalleh has called on the Arab states to develop self potentials so as to make use of joining the World Trade Organization. Regional, Economics, 1/3/2002 - Palestinian diplomat: Iran donates more than $ 1 million to Beit Mal al Quds
Iran will donate to Bayt Mal Al-Quds (Jerusalem Fund) us$ 1.3 Mln to support the Palestinian people, the fund director general Iran-Palestine, Economics, 1/3/2002 - 30 % rise in Arab tourism last year
Egyptian Minister of Tourism Mamdouh Al-Beltagui said that 4.6 million foreign tourists visited Egypt last year against 5.5 million in the year 2000 which indicates that Egyptian tourism is negatively affected as other world countries in the wake of September, 11 incidents. Egypt, Economics, 1/3/2002 - New customs tariffs to be applied to 1100 commodities
Egyptian Finance Minister Medhat Hassanein said the new amendments in the customs tariffs in effect as of January 1, 2002 which comprise 1100 commodities, adding they aim at encouraging local industry and investment, mending customs defects and curding smuggling. Egypt, Economics, 1/3/2002 - Morocco's hard currency reserves reach record us$ 8.14 billion
Morocco's central bank hard currency reserves reached by end of last October the record amount of 93.7 billion Dirhams (about US$ 8.14 billion). Morocco, Economics, 1/3/2002 - Egyptian exports on the rise-report
The value of Egyptian exports to outside countries hit some L.E. 12,498 billion in the first nine months of the year 2001 compared to L.E. 11,796 in the same period the year before. Egypt, Economics, 1/3/2002 - 974 million, the deficit in Oman's budget for 2002
Oman has expected a deficit in its budget for 2002 at USD 380 Omani Riyals ( estimated at USD 974 million) at an increase of 17% over the budget of 2001, according to the Omani news agency on Tuesday. Oman, Economics, 1/2/2002 - Prime minister opens number of projects Wednesday
Egyptian Prime Minister Atef Ebeid Wednesday continues his field tours in the governorates to follow up the execution of projects which upgrade services for the masses in every village and town in Egypt. Egypt, Economics, 1/2/2002 - Iraq accuses the UN of obstructing contracts at a cost of 6 billion
Iraq has accused the UN of acquiring the greater part of the revenues of the oil-for-food program. Iraq, Economics, 1/2/2002 - Arab banks union organizes colloquy on credit cards techniques
The Arab Banks Union will organize a colloquy in Morocco next April 23-25 on payment and credit cards techniques. Regional, Economics, 1/2/2002 - LE 75 billion for carrying out investments of the development plan
At its next meeting, the Cabinet under Prime Minister Atef Ebaid will review the guidelines of the social and economic development plan for the upcoming Fiscal year 2002-2003. Cabinet sources said the development plan draft aims at carrying out investments worth LE 75 billion of which the private sector will carry out at least 70%. Egypt, Economics, 1/2/2002 - Palestinian authority restores Gaza airport at great costs
The Palestinian Authority began restoration and reconstruction of Gaza international airport that was seriously damaged as a result of Israeli warplanes' attacks that destroyed the runway and several facilities. Palestine, Economics, 1/2/2002 - First stage of Toshki to be inaugurated
As the new year begins, a number of ministers have announced that they will start to carry out new projects in the framework of the state comprehensive development plan saying that the new year would witness more cooperation among ministries with the aim of promoting interests of citizens, and the accomplishment of new achievements. Egypt, Economics, 1/2/2002 - Creation of Uruguayan-Arab Chamber of Commerce Regional-Uruguay, Economics, 1/2/2002
- Expansion of Egyptian- Iraqi bilateral cooperation
Iraq and Egypt have agreed to develop bilateral cooperation in various industrial, trade and technical areas. This was reached in conclusion of works of the joint committee for economic co-operation in Baghdad. Iraq-Egypt, Economics, 1/1/2002 - Italian government supports Moroccan SME's Morocco-Italy, Economics, 1/1/2002
- Kalabsha Temple reopens in June
Restoration work is continuing on Kalabsha Temple in southern Egypt and the project should be completed in June, Secretary-General of the Supreme Council for Antiquities (SCA) Gaballah Ali Gaballah said yesterday. Egypt, Economics, 1/1/2002 - Public sector banks' deposits up by 11.7%
Deposits in public sector trade banks rose to LE 171.4 billion this year from LE 133.4 billion last year, up by 11.7 per cent, Public sector banks' federation said. Egypt, Economics, 1/1/2002 - An intention to push inter- Arab trade into a ceiling of $ 60 billion
The Arab economic unity council has called on the Arab states to re-structure existing industries in the council member states with the aim to increase the ability of these industries to compete in world markets. Regional, Economics, 12/31/2001 - Jordan to sign free trade agreement with Iraq soon
Jordanian Prime Minister, Ali Abu Al-Ragheb, will visit Baghdad soon to sign a bilateral free trade agreement, Jordanian ambassador in Iraq told reporters. Jordan-Iraq, Economics, 12/31/2001 - Arab chambers of commerce discuss revitalization of joint economic track
Heads of the Arab chambers of commerce will shortly start a series of meetings with the Arab leaders in order to exert efforts to revitalize the joint Arab economic work and achieve Arab projects so as to serve developmental and integration purposes in all Arab states and to meet their set ambitions. Regional, Economics, 12/31/2001 - Shura Council reviews plans to modernise Egypt
The Shura Council Saturday reviewed a report drawn by specialized Committees at the Council on the issue of modernizing Egypt and plans to realize this aim so that Egypt's modernization may become a national project. Egypt, Economics, 12/31/2001 - Indonesia, Egypt agree to cooperation in oil/gas exploration
Egyptian Oil Minister Sameh Fahmi said that Indonesia and Egypt agreed to work together in oil and gas explorations Egypt-Indonesia, Economics, 12/31/2001 - Moroccan-US group obtains concession of waste dump in Fez
The authorities of the city of Fez signed end of last week with a Moroccan-US group a concession allowing the private group to build and operate for 10 years the city's solid waste dump. Morocco-USA, Economics, 12/31/2001