Arabic News Weekly Edition for Economics, 2/18/2002
Weekly Edition, Economics - Week of February 18, 2002
- EU finances program to support Morocco's car-making industry
The Moroccan association of cars industry and trade (AMICA) has signed with Euro-Maroc enterprise center a convention to support exports of the car-making sub-contracting industry. Morocco, Economics, 2/23/2002 - Moroccan BMCE bank joins EBRD's trade facilitation program
Moroccan "BMCE" bank was accredited as a participant in European Reconstruction and Development Bank (EBRD) trade facilitation program, under a convention signed here on Thursday between the two financial institutions. Morocco, Business, 2/23/2002 - EU consider 120 million euros for Palestinian economic aid
The European Union MED Committee will meet on 27 February in Brussels to give an opinion on further direct budgetary assistance to the Palestinian Authority. Palestine-European Union, Economics, 2/23/2002 - Exchange of experiences among Euro-Mediterranean employer organisations
Its overall objective is to enable an exchange of experiences among Euro-Mediterranean employer organisations, which should lead to identifying best practices. Regional-European Union, Economics, 2/23/2002 - The first Bahraini official trade delegation to Iraq since 12 years
In the first visit of its kind since 12 years a Bahraini delegation composed of 50 businessmen as well as the advisor for the executive chairman of the higher council for development Muhammad al-Assoumi will pay a visit to Iraq. Bahrain-Iraq, Economics, 2/22/2002 - Syrian First Lady discusses cooperation in handicrafts industries with Italian minister
In the framework of the official visit Syrian President Bashar al-Assad is holding to Rome, Syria's First Lady Asmaa al-Assad on Wednesday met with Italian ministers accompanied by minister of culture Najwa Qassab Hassan and the advisor for the foreign minister Butheina Shabaan. Syria-Italy, Economics, 2/21/2002 - Morocco says it scores encouraging economic results, despite drought
Despite several years of drought, Morocco has managed to score positive economic results between 1998 and 2001, including the downsizing of external debt to US$14.2 billion from US$19.1 billion. Morocco, Economics, 2/21/2002 - Privatization program forges ahead
The government is committed to continuing its privatization program, started in 1991, to enhance the role of the private sector in the development process, Minister of Public Enterprise Mokhtar Khatab told a press conference. Egypt, Economics, 2/21/2002 - Morocco attracted largest foreign investments in southern mediterranean in 2001
Morocco attracted 3.2 billion Dirhams (about US$ 278.26 million) worth of foreign investments in 2001, said Moroccan minister of economy, finance, privatization and tourism, Fathallah Oualalou. Morocco, Economics, 2/21/2002 - Canada confirms support for development project
A Canadian official yesterday confirmed his country's support for Egypt's future development schemes, particularly in education, environment, and small and medium-scale industries . Egypt-Canada, Economics, 2/21/2002 - Morocco, Kazakhstan to enhance economic cooperation
Means to enhance cooperation between Morocco and Kazakhstan in the economic realm were probed at a meeting in Rabat Tuesday between minister of industry, trade, energy and mining, Mustapha Mansouri, and the ambassador of Kazakhstan in Rabat, Ascar Mussinov. Morocco-Kazakhstan, Economics, 2/21/2002 - Maghreban states called to sharpen competitive edge
Maghreban countries were called to sharpen their competitive edge to be able to face up globalization challenges. Maghreb, Economics, 2/21/2002 - U.N. conference addresses drought, creeping deserts and poverty
Drought, poverty, creeping deserts and scarce drinking water are headlining a U.N.-sponsored conference on global development and the environment. Regional, Economics, 2/21/2002 - British moves to promote trade with Morocco
Britain will launch next week a campaign for trade promotion with Morocco, chosen as a target market by the British government. Morocco-UK, Economics, 2/21/2002 - A free trade area between Libyan, Algiers Libya-Algeria, Economics, 2/20/2002
- Former chairman of Jordanian intelligence denies involvement in bank scandal
Former director of the Jordanian intelligence Lt. Gen. Samih al-Bateikhi has denied in statements issued on Tuesday any link to the case of "bank facilities" in which three Jordanian banks are involved with the "Global Business" company owned by Majd Sami al-Shameylah. Jordan, Economics, 2/20/2002 - Morocco, EBRD set to consolidate cooperation
An official from the European Reconstruction and Development Bank, currently on a visit to Morocco, met on Monday with industry, trade, energy and mining minister, Mustapha Mansouri. Morocco-European Union, Economics, 2/20/2002 - Egypt, France, to cooperate in modernizing underground metro cars
Egypt and France Tuesday signed a protocol to finance a project to rehabilitate and modernize cars of the first Cairo underground metro. Egypt-France, Economics, 2/20/2002 - Foreign investors to set up projects in Egypt
A report on the performance of Egyptian trade representation offices abroad predicts the implementation of a host of investment projects from Canada, Germany, Thailand, Malaysia and Cyprus in the near future. Egypt, Economics, 2/20/2002 - Egyptian, French cooperation to develop underground
France has donated 48.75 million Euro (S 42.3 million) to Egypt for the upgrading of Cairo's underground trains, French and Egyptian officials announced yesterday. Egypt-France, Economics, 2/20/2002 - 295 T.V channels and radio stations on Egyptian satellite channel
The Minister said that there are also 135 radio stations on the Egyptian satellite which confirms Egypt's pioneering role in the area. Egypt, Economics, 2/20/2002 - Sudan announces joining the common Arab Market
The secretary general of the Arab economic unity council discussed at the headquarters of the council's general secretariat with the Sudanese minister of the economy Karam Eddine Abdul Moula Saleh, who is also Sudan's permanent representative at the Arab economic council the issue of Sudan's joining of the four- member agreement to found a complete free trade agreement between each of Syria, Iraq, Libya and Egypt as well as to join the common Arab market. Sudan-Regional, Economics, 2/19/2002 - Al-Assad issues decrees on avoiding double taxation
Syrian President Bashar al-Assad on Monday released laws no. 3, 4, 5, 6, and 7 for 2002. Law no. 3 provides for the ratification of the agreement on avoiding double taxation and preventing escape of paying taxes on income signed between Syria and Italy. Syria, Economics, 2/19/2002 - Arab ministers of economy to meet in Beirut Regional, Economics, 2/19/2002
- Gap between resources and foreign exchange utilizations to be filled
The plan depends on orienting all new investments to promote the interests of the limited income brackets including financing lost cost housing projects, extending water supplies to all villages, developing slums and expanding credit extended to citizens. Egypt, Economics, 2/19/2002 - Egypt's growth rate to hit 2.5 per cent in 2002
Discussing Egypt's economic conditions in light of the current slackness of growth rate, a host of experts have recently anticipated that Egypt's real growth rate would not exceed more than two to three per cent in 2001, although according to growth forecasts in 2001, it would range between 4.5 and 5 per cent. Egypt, Economics, 2/19/2002 - $ 830 million to finance six new investment projects
"Six new projects have been approved to operate under the free zone system with Egyptian, Italian and British investments amounting to $ 830 million," said Mohamed A1Ghamrawi, Chairman of the General Authority for Investment and Free Zones (GAFI). Egypt, Economics, 2/19/2002 - Israeli economy is deteriorating, strong internal criticism to Sharon's policy
The Israeli economy has witnesses a continuous deterioration especially the sectors of tourism and construction besides the escape of foreign investments as well as the Israeli sums to foreign banks. Israel, Economics, 2/19/2002 - New sectors attract FDI investments
A report by the UN Conference on Trade and Development (UNCTAD) said the industry of pharmaceuticals, software, electronics and tourism are all considered as new sectors for luring more Foreign Direct Investments (FDI) to Egypt in the coming period. Egypt, Economics, 2/19/2002 - Companies with foreign shares contributed 40% to industrial GDP in 2000
Processing companies with foreign shares, with 53 Billion DH (US$ 3.01 Bln) contributed in 2000 40% of Morocco's industrial GDP and, with 22 billion DH (US$ 1.8 Bln) 35% of industrial production. Morocco, Economics, 2/19/2002 - Egypt to receive soft loan worth $ 56.1 million from Arab fund
Egypt signed an agreement late Monday with the Arab Fund for Economic, and Social Development under which Egypt will receive a 56.1 million soft loan for potable water projects in some 108 villages. Egypt, Economics, 2/19/2002 - US trade secretary to visit Morocco with trade mission
The US trade secretary will be visiting Morocco before end of the year while a US economic mission will come to Morocco next June to identify business opportunities in goods and services in the kingdom. Morocco-USA, Economics, 2/19/2002 - Oman hosts the Arab Insurance conference
Oman will host on March 11 the 24th conference of the Arab Federation for Insurance under the slogan "Arab Insurance: service and competition." The conference will last for three days. Regional-Oman, Economics, 2/19/2002 - Jordan freezes assets of 55 persons, companies in greatest financial scandal
The attorney general of the Jordanian state security court on Sunday ordered the freezing of the assets of 55 companies and persons suspected to be involved in one of the largest "law violation" cases in Jordan of USD 100 million taken from Jordanian national banks by a Jordanian businessman who escaped outside the country with the help of partners. Jordan, Economics, 2/18/2002 - Ghali: Egyptian exports boosted
Egyptian Minister of Foreign Trade, Youssef Botros Ghali, said that Egyptian exports achieved a high surge, following the increase in the exchange rate. Egypt, Economics, 2/18/2002 - An Israeli factory shot in the Golan, economic conditions cited
A factory for military uniform garments in the Katsarein settlement in the occupied Syrian Golan heights was closed because of the escalated economic crisis the Israeli military industries suffer. Israel-Syria, Economics, 2/18/2002 - Orascom-construction to build cement factory in Algeria Egypt-Algeria, Business, 2/18/2002
- Israel brings in labor force from Thailand Israel-Palestine, Economics, 2/18/2002
- Vigorous marketing efforts yield positive signs for tourism
Egypt's tourism industry has achieved an annual growth rate of 12.5 per cent, three times higher than the growth rate sought for the national economy, said Tourism Minister Mamdouh el- Beltagui. Egypt, Economics, 2/18/2002 - Investments upped to 30 billion pounds in new budget
Egyptian Prime Minister Atef Ebeid Saturday said that investments in the new budget have been raised to 30 billion pounds, an increase of 4 billion pounds compared to last year, following the success of the government in repaying part of its local debts. Egypt, Economics, 2/18/2002 - Egyptian natural gas exported to France
The French ambassador in Cairo, Francois Dubvier, said that the natural gas agreement between Egypt and France, will achieve not less than 9 billion Euro over the next twenty years as Egypt's share of the gas market in France will amount to %10 annually. Egypt-France, Economics, 2/18/2002 - Egyptian exports to France on the increase
Although exports to France are on the increase, growing by 13.43 per cent annually, the potential for growth would be greater if more Egyptian exporters were to make the effort to study the market more closely and recognise the huge investment capabilities there. Egypt-France, Economics, 2/18/2002