Arabic News Weekly Edition for Economics, 3/25/2002
Weekly Edition, Economics - Week of March 25, 2002
- Foreign investment in Tunisia, booming
Foreign investments in Tunisia has witnessed a qualitative turning point in recent years as a result of structural reforms policy adopted by the Tunisian President Zein al-Abidin Bin Ali since the change took place in the country on November 7, 1987, as for the first time foreign investments exceeded USD one billion Tunisia, Economics, 3/30/2002 - Meeting for free trade zone between Morocco, Tunisia, Egypt, Jordan
A group of experts in charge of drafting an agreement for a free-trade zone agreement between Morocco, Tunisia, Egypt and Jordan held a third session this March 27-28 in Tunis. Regional, Economics, 3/30/2002 - EU exempts Egypt from protective measures over steel exports
Ghali added that it is expected to export about one million tonnes worth $ 70 million this year to Europe against 350,000 tonnes last year. EU imports about 60 percent of the Egyptian total production. Egypt-European Union, Economics, 3/30/2002 - Tunisian tour operators on trip to Marrakesh Morocco-Tunisia, Economics, 3/29/2002
- European, Moroccan Businessmen Meet in Sale Morocco-European Union, Economics, 3/29/2002
- Morocco in Moscow's world tourism fair Morocco-Russia, Economics, 3/29/2002
- Closure of Moroccan-Algerian borders contradict their will to promote exchanges, Algerian minister Algeria-Morocco, Economics, 3/28/2002
- Syrian prime minister receives TOTAL ELF regional director Syria-France, Economics, 3/28/2002
- Regionalization, inevitable path towards a competitive Morocco, minister
The construction of a democratic nation, the consolidation of the rule of law, and the building up of a fair, egalitarian society as well as the promotion of a sound, solid and competitive economy are the major fields of action in the country, he said. Morocco, Economics, 3/28/2002 - Kuwait- Japanese oil agreement Kuwait-Japan, Economics, 3/28/2002
- Syrian - Jordanian trade exchange volume increases by 50%
Jordanian official economic sources have announced that the volume of trade exchange, exports and exports between Jordan and Syria, has increase at 50% and reached 72 million Jordanian dinars in 2001, from 48 million Jordanian dinars in the year 2000. Jordan-Syria, Economics, 3/28/2002 - Morocco, Russia start talks on new fisheries accord
Morocco and Russia started in Moscow Thursday talks for the conclusion of a new bilateral fisheries accord to replace a 1995 agreement that expired in 1999. Morocco-Russia, Economics, 3/28/2002 - Budget receipts slowdown affects public finances
The slowdown in budget receipts in 2002, resulting from the drop in non-fiscal revenues, will affect public finances, says a Moroccan think-tank group. Morocco, Economics, 3/28/2002 - Moroccan, Egyptian Businessmen Conclude Partnership Accords Morocco-Egypt, Economics, 3/28/2002
- Morocco days in French city of Grenoble
Morocco tourism and handicraft days are held in the French city of Grenoble this March 20 through April 1st. Morocco-France, Economics, 3/28/2002 - Japanese international cooperation agency follows up on investment in Morocco
Vice Chairman of the Japanese International Cooperation Agency (JICA), Masamitsu Hiroumi, is expected this week in Morocco to inquire about progress made in the agency-financed projects. Morocco-Japan, Economics, 3/28/2002 - IMF supports Egypt's monetary, financial polices
The International Monetary Fund (IMF) announced yesterday it supports the policies adopted by the Central Bank of Egypt concerning the current exchange rate's mechanism. Egypt, Economics, 3/28/2002 - Morocco wants to make of al-Jadida a tourism pole
French daily Le monde on Wednesday ran a coverage on Morocco's efforts to make of Al-Jadida, a town located some 200 km south of Rabat, a major tourism center. Morocco, Economics, 3/28/2002 - Call for bold initiatives to create an integrated Arab economic zone, King
"It is incumbent upon us to adopt a new approach, and devise bold and concrete initiatives to create an integrated Arab economic zone, which is likely to enable us to mobilize all our resources to achieve Arab sustainable development," King Mohammed VI said in a speech before the opening session Regional, Economics, 3/27/2002 - Iraq to take part in Damascus' oil and gas exhibition Iraq-Syria, Economics, 3/27/2002
- Mubarak meets prime minister, transport minister, and governors
The Prime Minister reviewed the appropriations to be provided by the government for the railways through the state budget, which will reach some 1.7 billion pounds annually, he said Egypt, Economics, 3/27/2002 - European MPs Call for Suspension of Association Accord with Israel
Several European MPs are in favor of a "suspension" of the association agreement binding the European Union and Israel, Euro deputy Luisa Morgantini, said Tuesday. Israel-European Union, Economics, 3/27/2002 - Mubarak reviews Egypt's draft budget of 2002/2003
Egyptian President Hosni Mubarak met yesterday with a ministerial economic group to discuss Egypt's draft budget of 2002/2003 whose total sums hit L.E. 141.4 billion, the biggest throughout Egypt's modern history. Egypt, Economics, 3/27/2002 - Egyptian tourism back to normal next Autumn
Egyptian Minister of Tourism Mamdouh Al Beltagui highlighted that Egyptian tourism will return back to normal next Autumn as the ministry made many initiatives to carry out a wide-scale promotion campaign in coordination with parties concerned in aviation sector, Egyptian tourism private sector and travel agencies in Egypt. Egypt, Economics, 3/27/2002 - Bush wants $ 100 million extra to Jordan as expression of support
The US embassy in Amman on Tuesday announced that the US President George Bush asked the Congress to approve an extra aid of USD 100 million to Jordan for the Fiscal year 2002. Jordan-USA, Economics, 3/27/2002 - 30 new oil finds in 30 months
Some 30 natural gas discoveries with reserves of about 20 trillion cubic meters have been made in Egypt over the last two and half years. Oil discoveries in the same period number 53, with reserves estimated at 482 million barrels. The State's share of these discoveries is expected to be $ 29 billion, Minister of Oil Sameh Fahmy said yesterday. Egypt, Economics, 3/27/2002 - Arab fund signs 23 million dollars loan with lebanon
Kuwaiti Arab Fund for Economic and Social Development extended to Lebanon a 23 million dollar loan meant to develop the Lebanese electricity network Lebanon-Regional, Economics, 3/27/2002 - UN begins latest preparatory session for key forum on sustainable development
As the latest round of preparations for a major United Nations summit on sustainable development got under way here on Tuesday, a senior UN official said the challenge over the next two weeks would be to generate a final text that would reflect Member States priorities and is translatable into practical plans. Regional, Economics, 3/27/2002 - Arab economy ministers call for stronger pan-Arab economic integration
Arab economy and finance ministers who held a preparatory session prior to the Arab summit of Beirut (March 27-28) stress the need for promoting economic integration in the Arab states, in a draft recommendation that will be referred to Arab heads of state. Regional, Economics, 3/26/2002 - First investment map for the Arab states
The secretary general of the Arab economic unity council Ahmad Jweili has unveiled that the council will complete within 60 days the first investment map in the Arab states that will bring full details about investment opportunities in all investment areas and will be a means that provides the Arab and the foreign investors, alike with enough information about investment in the Arab states. Regional, Economics, 3/26/2002 - $ 400 billion for rebuilding the Iraqi cities
The Iraqi minister of labor and social affairs Sadee Abbas has stated that the volume of investments for rebuilding the Iraqi towns is estimated at USD 400 billion during the 10 coming years, noting that that will be a great opportunity to intensify economic cooperation between Iraq and the Arab and international companies. Iraq-Regional, Economics, 3/26/2002 - EU to upgrade the Industrial Modernization Program
Egypt's Industrial Modernization Program (IMP), Minister of Industry and Technological Development Ali El-Saeedi pointed out that the IMP's main axes to be achieved in the short run includes raising the competitiveness of about 5000 industrial establishments, rehabilitating 30 consultant offices besides establishing 15 centres for developing the Ministry. Egypt, Economics, 3/26/2002 - Towards economic breakthrough
Head of the Economic and Financial Committee of the Shura Council, Ahmed Rashad Moussa stressed that the current liquidity squeeze can be attributed mainly to private companies that absorbed some L.E. 15 billions. Egypt, Economics, 3/26/2002 - Fund-donors to meet next april over sustained development and water in Africa
The African Development Bank will hold next April 15-17 in Accra, Ghana, a regional conference on water and sustained development in Africa Regional, Economics, 3/26/2002 - $ 5 billion in British gas and oil investments in Egypt
Meanwhile, Minister of Energy Hassan Yunis called on British investors to boost joint cooperation with Egyptian companies in the field of wind and solar sources of energy as well as manufacturing electric equipment locally. Egypt-UK, Economics, 3/26/2002 - Sales of Morocco's ONA Posts 10.7% Increase
Morocco's Omnium Nord Africain (ONA), the largest private holding, announced that its consolidated sales has reached 24.3 billion DH (2.4 billion Euros) in 2001, progressing by 10.7% compared to 2000. Morocco, Business, 3/26/2002 - Egyptian French cooperation in tourism, environment
Egyptian Minister of Tourism Mamdouh Al-Beltagui said that the ministry could successfully develop hotel capacities and creating tourist resorts and in the meantime preserving the environment in sea and on land. Egypt-France, Economics, 3/26/2002 - $113 million in Canadian investments to prospect for oil, gas
Egyptian Minister of Petroleum Sameh Fahmi said there is a growing turnover by world oil companies to prospect for oil and natural gas as well as development of the discovered fields. Egypt-Canada, Economics, 3/26/2002 - Casablanca hosts meeting on plane engines overhaul in Africa
The 11th annual conference on planes engine overhaul opened in Casablanca Monday with 200 international experts attending. Morocco-Regional, Business, 3/26/2002 - Arab business women conference in Damascus hosted by Syria's first lady
Under the patronage of Syria's First Lady Asmaa al-Akhras, wife of President Bashar al-Assad, Damascus will host on April 21 through 23 the regional seminar on revitalizing the role of women in business administration and economic development at the Damascus conferences palace "Ebla al-Shaam." Syria-Regional, Economics, 3/25/2002 - Arab Socio-economic council kicks off, economic aspects high on summit agenda
Moussa noted that time is now ripe to charge the Social and Economic Council with the full responsibility to coordinate efforts on the various levels with the different Arab financial institutions to serve the Arab economic action. Regional, Economics, 3/25/2002 - Arab Socio-Economic Council approves several draft resolutions
The Arab Socio-Economic Council approved a number of draft economic resolutions that will be submitted to the Arab summit due to start on Wednesday. Regional, Economics, 3/25/2002 - Egyptian-Syrian-Cypriot talks on Egyptian gas exports
Egyptian Petroleum Minister Sameh Fahmi said on Sunday he discussed with top Syrian and Cypriot officials the project of exporting Egyptian natural gas to Jordan and Lebanon via Syria and to Europe via Cyprus. Egypt-Syria, Economics, 3/25/2002 - Bush aid plan for poorer nations called 'leverage' against corruption
US President Bush's plan to increase U.S. foreign aid to the developing world will go only to those countries with "just, representative" governments that respect human rights, says Otto Reich, assistant secretary of state for Western Hemisphere Affairs. Regional-USA, Economics, 3/25/2002 - Bush spells out goals of development aid to poorer nations
The president said that aid must be tied to political, legal and economic reforms and that by insisting on reform, "we do the work of compassion." Regional-USA, Economics, 3/25/2002 - Baghdad's losses are estimated at $ 200 billion because of sanctions
the value of goods Iraq received totaled $ 17 Billion, while the remaining sum represents the contracts blocked by the United States and Britain part of the UN sanctions committee Iraq, Economics, 3/25/2002 - 4th Egyptian -Cypriot committee session protocol signed
Egyptian Minister of Foreign Trade Youssef Boutros Ghali and Cypriot Minister of Trade, Industry and Tourism Nicos Rolandis signed Sunday the protocol of the fourth session of the joint Egyptian Cypriot committee to open fresh vistas of trade, investment, tourist and industrial cooperation. Egypt-Cyprus, Economics, 3/25/2002 - Gitex Saudi targets largest IT market in the Gulf Saudi Arabia, Business, 3/25/2002
- International Society of Petroleum Engineering (SPE) briefed on Dubai e-Government services
Dubai e-Government recently extended its awareness campaign to target specific segments of the business sector in the UAE with its first ever presentation to a delegation from the International Society of Petroleum Engineering United Arab Emirates, Economics, 3/25/2002 - IFC offers 2 loans worth $ 61.5 million to private sector
The International Finance Corporation (IFC), affiliated to the World Bank (WB), has offered two loans worth a total of $ 61.5 million as a contribution to Egypt's modernization program. Egypt, Economics, 3/25/2002 - Mubarak to hold a meeting with Prime Minister for discussing new budget
The volume of the budget which will be raised before the People's Assembly and the Shura Council next month amounts to LE 140 billion. Egypt, Economics, 3/25/2002 - Arab tourist region to have a fair share of world tourism
The Lebanese Tourism Minister, Karam Karam said that the Arab symposium for tourism and travel is due to be held in Venecia hotel; in Beirut on the 10th and 11th of March 2002 regarding this as an opportunity to reinforce the Arab cooperation in the field of tourism in order to attract the biggest possible share of Arab and international tourism. Regional, Economics, 3/25/2002