Arabic News Weekly Edition for Economics, 2/25/2002
Weekly Edition, Economics - Week of February 25, 2002
- Syria, Turkey trade exchange sees strong increase
The Syrian ambassador to Turkey Muhammad Saeed al-Bunni has stressed that President Bashar al-Assad's directives, the new legislation and measures which were taken in Syria aimed at encouraging investment and attracting Arab and foreign investors alike. Syria-Turkey, Economics, 3/2/2002 - Morocco, Senegal sign six cooperation agreements
Morocco and Senegal signed in Dakar Friday six cooperation agreements in equipment, communication, radio and TV, avoidance of double taxation and tax evasion, roads and highways construction and creation of a business council. Morocco-Senegal, Economics, 3/2/2002 - Mediterranean enterprises create union Regional, Economics, 3/2/2002
- Confederation of British industry impressed by Morocco's economic reforms
"The Confederation of British Industry (CBI) is impressed by Morocco's economic reforms," CBI's director general, Digby Jones, said Thursday. Morocco-UK, Economics, 3/2/2002 - Turkish businessmen ready to set up industrial zone in Egypt
A host of Turkish businessmen are getting ready to establish an industrial zone in the 6th of October City, showing a will to set up ventures there at a cost of $ 1 billion in ten years' time. Egypt-Turkey, Economics, 3/2/2002 - Palestinian farmers suffer heavy losses inflicted by the Israeli siege
A Palestinian official report said that the siege imposed by the Israeli occupation forces against the Palestinians resulted in heavy losses inflicted on the Palestinian farmers estimated at USD 500 million since the eruption of the Palestinian Intifada on September 28th, 2000 until January 31st, 2002. Palestine, Economics, 3/2/2002 - Egypt has biggest share of direct Dutch investment report
Egypt ranks the first as regards its share of the direct Dutch investments in the Arab states, according to a report by the Trade Representation Agency on Thursday. Egypt-Netherlands, Economics, 3/2/2002 - USAID director: No change in US aid program to Egypt
US Agency for International Development (USAID) Director in Cairo Willard Pearson said the aid pledged by the US to Egypt during the Sharm El-Sheikh donors conference will not negatively affect the programs sponsored by the agency in Egypt to help the government's development plans in the various parties of the country. Egypt-USA, Economics, 3/2/2002 - Moroccan and French labor ministers step up cooperation Morocco-France, Economics, 3/2/2002
- French firms buys 44.2% of ONAs consumption loan company
French group "Compagnie Generale" bought on Friday 44.2% of the capital of Eqdom, a consumption loan company owned by Morocco's largest consortium "ONA." Morocco-France, Business, 3/2/2002 - Turkish delegation to visit Iraq Iraq-Turkey, Economics, 3/1/2002
- Arab Labor Congress meets on Saturday Regional, Economics, 3/1/2002
- Cooperation between Syria, UNIDO discussed
The Syrian minister talked about the march of modernization and development taking place in Syria in all fields under the leadership of President Bashar al-Assad. He also expressed Syria's keenness to enlarge this backing given by UNIDO. Syria, Economics, 3/1/2002 - Commission on devolution of investment management holds 1st meeting
Moroccan premier, Abderrahmane Youssoufi, chaired on Wednesday the first meeting of the ministerial commission set up by King Mohammed VI to prepare measures needed for devolution of investment management and follow-up of their implementation. Morocco, Economics, 3/1/2002 - Intifada resulted in decrease of Israeli investment by 60%
The central bank of Israel on Thursday admitted that the Palestinian Intifada resulted in the recession of direct foreign investments in Israel to USD 3.1 billion from USD 4.5 billion in 2001, at a recession of 60%. Israel, Economics, 3/1/2002 - Italian Cable Factory Inaugurated in Settat
An Italian steel cable factory was inaugurated in Settat Wednesday, by visiting Italian minister in charge of foreign trade, Adolfo Urso. Morocco-Italy, Economics, 3/1/2002 - Emirates to start Casablanca-Dubai round trip next march 31
The United Arab Emirates air company "Emirates" will start operating as of next March 31 a Dubai-Casablanca-Dubai flights three times a week. United Arab Emirates-Morocco, Business, 2/28/2002 - Commission backs creation of Euro-Mediterranean bank as an EIB subsidiary
The European Commission has expressed backing to the creation of a Euro-Mediterranean Bank (EMB) as a subsidiary to the European Investment Bank (EIB). Regional-European Union, Economics, 2/28/2002 - Morocco's carrier gets its second Boeing 767ER
The Moroccan carrier Royal Air Maroc (RAM) Wednesday took delivery of its second Boeing 767-300ER (extended-range) twin-aisle airplane. Morocco, Business, 2/28/2002 - Arab states tourism revenues are 8.2% of world total
A recent report by the Egyptian federation of the chambers of tourism has stressed the need of drawing an executive strategy to support inter- Arab tourism and strengthen inter- Arab movement as well as forming a joint Arab insurance company for tourism or setting up an emergency fund for tourism only specialized in insurance. Regional, Economics, 2/27/2002 - Europe considers taxation of Israeli settlement goods
The European Union's (EU) Origin Committee, which consists of customs experts and commissioners, is to discuss imposing taxes on all Israeli goods produced in the Occupied Palestinian Territory Israel-European Union, Economics, 2/27/2002 - Yemen: An increase in oil byproducts
The Yemeni government is intending to execute the decision of increasing the price of oil and its byproducts during April. Yemen, Economics, 2/27/2002 - European Union, Gulf states meet over free trade agreement
Member states of the Gulf Cooperation Council (GCC) and of the European Union (EU) are meeting in the Spanish city of Granada this February 27-28 to discuss a projected free trade agreement between the two groupings now that the GCC has decided to enforce, as of next year, a customs union and a single currency by 2010. Gulf-European Union, Economics, 2/27/2002 - Sharm El-Sheikh Conference, donors agree on more financial streamline
The European Central Bank noted that Egypt needs other financial reforms in order to have enough level of competition and ease the control of public banks over the financial sector. Egypt, Economics, 2/27/2002 - $900 million available from World Bank to Egypt
"The most prominent of these measures is to curb the overpopulation problem, carrying out some monetary amendments, realizing growth rates so as to improve the trade balance, as well as expand the implementation of social programmes mainly designed to reduce the problem of poverty," Sarbib said. Egypt, Economics, 2/27/2002 - Volume of trade between Egypt and US is 4 billion dollars Egypt-USA, Economics, 2/27/2002
- IMF lauds government's policies to maintain market stability
The International Monetary Fund (IMF) recently lauded the financial and monetary policies undertaken by the Egyptian government to maintain confidence in the Egyptian market. Egypt, Economics, 2/27/2002 - Intifada causes heavy losses to Israeli communication sector
The escalated Palestinian Intifada against the Israeli occupation resulted in heavy loses to the communication sector that exceeded 2.2 billion Israeli Shekels in this sector until the end of January, 2002. Israel, Economics, 2/27/2002 - Egypt has gas reserves totalling 55 trillion Cubic ft.
Egypt's confirmed reserves of natural gas have reached a level of 55 trillion cubic feet, with a further estimated potential of 65 trillion cubic feet, Minister of Petroleum Sameh Fahmi told a Mediterranean gathering in Cairo yesterday. Egypt, Economics, 2/27/2002 - Arab Monetary Fund to back Egyptian development programs
The Abu Dhabi-based Arab Monetary Fund is scrutinizing a report on prospects of furthering support to development programs in Egypt. Egypt, Economics, 2/27/2002 - Morocco, Austria sign non-double taxation and air transport agreements
Morocco and Austria signed in Rabat this Wednesday a non-double taxation agreement and an accord regulating air transport between the two countries. Morocco-Austria, Economics, 2/27/2002 - Egyptian exports to Iraq
The Iraqi trade minister Muhammad Mahdi Saleh expected on Monday that total Egyptian exports to Iraq by the end of the current year will reach USD 3 billion. Iraq-Egypt, Economics, 2/26/2002 - Jordanian- Iranian committee meets today
the committee will discuss economic cooperation, increasing the Jordanian products to Iran especially Phosphate, as Iran has expressed its readiness to increase the amounts of phosphates imported from Jordan to three folds Jordan-Iran, Economics, 2/26/2002 - The Arab Labor ministers conference
The ministers of labor and representatives of the organizations of business owners in the Arab states will discuss during the conference of the Arab Labor which will be held in Cairo in March the economic and tourism consequences resulting from the September 11 attacks on the conditions of Arab workers. Regional, Economics, 2/26/2002 - Arab financing for the Egyptian gas pipeline
The Arab Fund for economic and social development in collaboration with the Kuwaiti development fund has agreed to participate in financing the project to install the natural gas project to transport the Egyptian natural gas to Syria, Lebanon and Jordan. Regional, Economics, 2/26/2002 - Morocco, Britain to announce birth of business council
Morocco and Britain will officially launch on Wednesday their business council to promote cooperation between the two countries in economic, trade, financial and investment fields. Morocco-UK, Economics, 2/26/2002 - Ghali: $1.9 Billion Increase in Exports
The Egyptian Minister of Foreign Trade Youssef Boutros Ghali, said that last year's exports grew by $ 1.94 billion while imports decreased by $ 800 million. Egypt, Economics, 2/26/2002 - Egypt to host soon international conference on energy
The fourth international conference on oil and natural gas agreements and arbitration in energy-related conflicts opens in the Egyptian Red Sea resort of Sharm el-Sheikh on March 9. Regional-Egypt, Economics, 2/26/2002 - $ 800 billion; the volume of Arab sums abroad
The chairman of the general federation of the chambers of commerce and industry for the Arab states Khaled Abu Ismael, who is also the chairman of the general federation of the Egyptian chambers of commerce has stressed the need of completing the project of the Arab Free Trade Zone which constitutes the base to attract investments from abroad and invest them in the Arab industrial and technological merging. Regional, Economics, 2/25/2002 - British business delegation expected tomorrow in Morocco
A British business delegation, comprising representatives of 32 enterprises, is expected tomorrow in Casablanca for a four-day visit. Morocco-UK, Economics, 2/25/2002