Arabic News Weekly Edition for Economics, 3/11/2002
Weekly Edition, Economics - Week of March 11, 2002
- Algerian delegation arrives in Baghdad Iraq-Algeria, Economics, 3/16/2002
- Arabs prepare for first economic congress
Arab League Secretary-General, Amr Moussa, is currently preparing for the holding of the first Arab economic congress next June 16-18, the League's spokesman announced. Regional, Economics, 3/16/2002 - Confiscated smuggled goods worth 166 million Syrian pounds
The meeting was attended by specialists representing the two sides and discussions dealt with the phenomenon of smuggling between the two states and means of fighting it both via land and sea. Syria-Lebanon, Economics, 3/16/2002 - Arab Maghreb finance ministers discuss the free zone
Ministers of economy and finance in the Arab Maghreb states unanimously said that the regional and international economic conditions following the incidents of September 11 makes it imperative for the Maghreb Union to implement projects pertaining to the foundation of a free Maghreb trade area, to establish a Maghreb Bank for trade and foreign investment. Maghreb, Economics, 3/16/2002 - Youssoufi at Monterrey economic development conference
"It will be looking at all types of resources: the internal resources that developing countries can generate themselves; and the resources that can come from trade, from foreign direct investment, from official development assistance (ODA), from debt relief," she said. Morocco, Economics, 3/16/2002 - OPEC stress importance of stability in oil market
''The equilibrium of the crude market and the stability of prices around 25 dollars the barrel have been determining elements in the decision to maintain restrictions of production (2mbj starting from January 1st2002) taken prises in Cairo on December 28, decisions to which adhere more and more out of OPEC producers '', Algerian minister of energy and mines Chakib Khelil commented. Regional-Algeria, Economics, 3/16/2002 - French tourist traffic to Egypt improving
Egyptian Tourism Minister Mamdouh El-Beltagui and his French counterpart Jacques Brunuex Thursday co-opened the Egyptian pavilion at a major travel fair where an estimated 150 countries are participating. Egypt-France, Economics, 3/16/2002 - Korea ready to help Morocco further world cup ambitions
South Korea has suggested to help Morocco further its ambitions to host the world cup of 2010, Korean news agency (YONHAP) reported, quoting Korean speaker, Lee Man-Sup, currently on a visit to Morocco. Morocco-South Korea, Economics, 3/16/2002 - Bahraini businessmen delegation to visit Iraq Iraq-Bahrain, Economics, 3/15/2002
- Morocco, Turkey set up business association Morocco-Turkey, Economics, 3/15/2002
- Tunisia's industrial modernisation program Tunisia-European Union, Economics, 3/15/2002
- Participation in the paneuropean system of rules of origin Regional-European Union, Economics, 3/15/2002
- First regional investment centers in Morocco operational by July
The decision was made at a meeting in Rabat Wednesday chaired by Moroccan minister of the interior, Driss Jettou, and attended by the walis (senior governors) of the 16 regions of the Kingdom, a statement by the ministry of the interior said. Morocco, Economics, 3/15/2002 - King Mohammed receives Chinese business delegation
Moroccos King Mohammed VI received Thursday in the Moroccan southern Atlantic city of Agadir a delegation representing Chinese enterprises. Morocco-China, Economics, 3/15/2002 - Maghreban ministerial committee calls for speeding up free trade area in Maghreb
The Maghreban Ministerial committee for economy and finance, a structure of the Arab Maghreb Union (UMA), has called for speeding up the establishment of a free trade area between the union members. Maghreb, Economics, 3/15/2002 - Morocco launches promotion campaign in Germany
Morocco will launch a large-scale tourism promotion campaign in Germany, on the eve of Berlin Tourism World Fair, to be held March 16-20. Morocco-Germany, Economics, 3/15/2002 - Spanish company to invest $ 26 mln in Morocco in 2002
Spanish investment Company, COFIDES, is projecting to invest 300 Mln Dirhams (nearly $ 26 Mln) in Morocco in 2002, mainly in the sector of tourism. Morocco-Spain, Business, 3/14/2002 - European tourism to Egypt is increasing
Egyptian Minister of Tourism Mamdouh Al-Beltagui left Cairo heading to Paris in the context of a tour that will take him to France and Germany. Egypt-European Union, Economics, 3/14/2002 - Morocco, Guinea to set up business council
Morocco and Guinea convened Tuesday to set up a business council during the 5th session of their joint cooperation commission to be held in the course of the current year. Morocco-Guinea, Economics, 3/14/2002 - Syrian construction minister starts visit to Turkey
The Syrian minister of building up and construction Husam al-Aswad and members of the accompanying delegation arrived in Ankara on Tuesday afternoon in an official visit to Turkey which will last for five days. Syria-Turkey, Economics, 3/13/2002 - Somalia and money transfer
The Somali foreign minister Youssef Hassan Ibrahim has proposed that an American Bank will assume the operations of al-Barakat financial foundation which was closed by the US despite the fact that the Somalis who were working outside are in need to transfer money into their country. Somalia, Economics, 3/13/2002 - Egypt's industrial modernization program, a shared vison of development sectors
Egyptian Minister of Industry Ali Saidi has declared his ministry's willingness to exchange expertise in various fields, especially industry, with neighbouring Arab countries. Egypt, Economics, 3/13/2002 - Plan to upgrade foreign trade sector to help increase exports
The Foreign Trade Sector at the Ministry of Foreign Trade, will embark on a modernisation programme for its departments that is due to start next month. The programme is financed by a USAID grant of about LE40 million over three years within the framework of a strategy to promote exports. Egypt, Economics, 3/13/2002 - Beltagui tells Finnish TV, tourism picks up speed very soon
Egyptian Minister of Tourism Mamdouh Al Beltagui said he is confident the tourist activity will regain its strength very soon because Egypt offers an exquisite, versatile and splendid product, warm hospitality and a secure climate to visitors. Egypt, Economics, 3/13/2002 - $100m easy loan from JBIC to modernise local industry
Japan Bank for International Cooperation (JBIC) has announced its intention to provide a $100m easy loan as a first stage to be used in a programme to modernise and upgrade the Egyptian industry and to assist industrial companies to carry out their plans of modernisation. Egypt-Japan, Economics, 3/13/2002 - $ 150 M for Arab funds to finance Egyptian gas pipeline
The Arab fund for economic and social development as well as the Kuwaiti development fund will contribute to financing a new project for extending Egyptian natural gas to Jordan (the first phase) at a cost of $ 150 million. The participation comes within the context of the Arab funds' new strategy of financing Arab national projects which pave the way for the establishment of the Arab common market. Egypt-Regional, Economics, 3/12/2002 - Sudanese president opens Sudan's international Forum for Investment
The Sudanese President Omar Hassan al-Bashir on Monday in Khartoum opened Sudan's international gathering for investment which will last for two days with the participation of more than 200 delegations and business men from Arab, African and European countries. Sudan, Economics, 3/12/2002 - Four axes to develop Egyptian stock exchange activities
Despite the fact that the Egyptian stock exchange (ESE) was the magic gate for investments and making a fortune at the beginning of the l990s, yet these dreams turned into nightmare for junior investors and other categories who stormed this field to acquire quick gains. Their dreams evaporated with the big decline of 40-60 per cent in prices of many promising shares in the ESE. Egypt, Economics, 3/12/2002 - World companies compete to prospect for oil in 32 new regions
"World companies' bids will be selected this month to grant oil and natural gas prospection concessions in 32 new regions of 292,000 kilometers, covering 29 percent of the country's area," said Minister of Petroleum Sameh Fahmi. Egypt, Economics, 3/12/2002 - New international IT companies invest in Egypt
Egyptian Minister of Communication and Information Technology Ahmed Nazif witnessed, early in the week, the signing ceremony of a cooperation agreement between telecom Egypt and the Swedish Ericsson telecommunications company at a total value of 200 million euros. Egypt, Economics, 3/12/2002 - Seven african atlantic countries meet in Nouakchott on fisheries
The coordination committee of the sub-regional commission on fisheries, mustering Seven African countries, bordering the Atlantic, is holding its 15th session in Nouakchott. Mauritania-Regional, Economics, 3/12/2002 - IFC contributes $177 million to finance industry, energy projects
The annual report of the International Finance Corporation, affiliated to the World Bank, states that the corporation will finance investment projects worth $ 177.24 million in the fields of industry and energy in Egypt. Egypt, Economics, 3/12/2002 - Promotion plan to market Egypt's tourist attractions
Egyptian Tourism Minister Mamdouh el-Beltagui said a promotion campaign marketing Egyptian tourism is being implemented in order to overcome negative repercussions of latest world events. Egypt, Economics, 3/12/2002 - Arab Commerce Ministers Convene in Kuwait Tuesday
Arab ministers of commerce and industry hold a conference in Kuwait this Tuesday on Arab states and the World Trade Organization (WTO), Kuwait's commerce and industry minister, Salah Khorsheed, told KUNA Monday. Regional, Economics, 3/12/2002 - Digital bridges can help fight poverty, Annan
Highlighting the "great potential" of information technologies in fighting poverty, United Nations Secretary-General Kofi Annan has welcomed efforts by ICANN, the international body managing the Internet's domain name system, for its efforts to build digital bridges to developing countries. Regional, Economics, 3/12/2002 - Edeid, Tunisian PM probe upping bilateral trade to $ 300 m
Meetings of the joint Egyptian-Tunisian committee start in Cairo Tuesday under the co-chairmanship of Prime Minister Atef Ebeid and his Tunisian opposite number Mohamed Al-Ghanoushi. Egypt-Tunisia, Economics, 3/11/2002 - Ebeid discusses Japan's contribution to promotion of Egyptian exports
Youssif Botros Ghali Minister of Foreign Trade said Ebeid stressed the export importance for Egypt in this current stage, adding that efforts are exerted to develop Egyptian exports. "Egypt welcomes cooperation with JETRO in this respect," he said. Egypt-Japan, Economics, 3/11/2002 - Japan offers $ 100 m in soft loan to upgrade Egypt's industry
The Japanese Bank for International Cooperation (JBIC) said it intends to provide a soft loan of $ 100 million to Egypt as a first stage in the Egyptian program to modernize industry. Egypt-Japan, Economics, 3/11/2002 - Islamic Bank meetings in Jeddah
Meetings of the 206th session of the council of the Islamic Bank for Development IBD executive directors started on Sunday in Jeddah in order to consider financing several developmental projects in several IBD member states. Regional, Business, 3/11/2002