Arabic News Weekly Edition for Economics, 7/15/2002
Weekly Edition, Economics - Week of July 15, 2002
- Japan donates to support rural development
It will serve to extend a training center for women in rural regions and purchase sewing, knitting and embroidery machines, buy eye-disease diagnosis devices, finance the refurbishment of classes and school canteens Morocco-Japan, Economics, 7/20/2002 - $700 million paid by Iraq due to invasion of kuwait
A Geneva-based United Nations panel this week paid out over $700 million in damages arising from Iraq's 1990 invasion and subsequent occupation of Kuwait. Iraq, Economics, 7/20/2002 - Egypt signs five agreements on prospecting for oil, gas
Egypt's Minister of Petroleum Sameh Fahmi yesterday signed an agreement with a Canadian firm to prospect for oil and natural gas in Wadi Araba in the Gulf of Suez. Egypt, Business, 7/20/2002 - Improved procedures for aid to Iraq in place, UN official
The United Nations has fully implemented new procedures to speed the delivery of humanitarian aid to Iraq, according to the head of the office running the oil-for-food program, which allows Baghdad to use a portion of its petroleum revenues to purchase relief supplies. Iraq, Economics, 7/20/2002 - Pakistan Holds Talks with Morocco, Ukraine for Joint Ventures in Fertilizers
Pakistan government is in contact with Morocco and Ukraine for the initiation of joint ventures in the field of fertilizer production Morocco-Pakistan, Economics, 7/20/2002 - Arab states need a renaissance in science and technology, Beirut forum says for
The prime minister also voiced regret over the failure of the majority of Arab states to include the issue of technology transfer among their decision-making priorities. "The human resources are available [and] the markets are available," he said. "What remains is the will." Regional, Economics, 7/18/2002 - Gulf citizens loose $ 97 billion in US market because of dollar decline
The dramatic devaluation of the US dollar before major currencies especially the EURO, the Yen in the few past weeks resulted in inflicting heavy losses in the revenues of the Arab Gulf states, members in the OPEC of its oil exports priced by the US dollar. Gulf-USA, Economics, 7/18/2002 - $ 8 billion in losses to the Palestinian economy
He accused the Israeli forces of uprooting 20,,000 olive tress. He explained that losses in this regard (of uprooting trees) reached $ 400 million. He said "we have lost the production of seven years for these trees while thousands of families lost their income sources." Palestine-Israel, Economics, 7/18/2002 - Morocco's GDP up 6.5 percent in 2001,
The gross domestic product increased by some 6.5 percent following a 25 percent rise in agricultural production after two consecutive years of drought, said Seqqat when presenting to the sovereign a summary of the report. Morocco, Economics, 7/18/2002 - Islamic Development Bank loans Morocco $ 7.33 million
Morocco and the Islamic Development Bank (IDB) signed Tuesday in Rabat two loan and guarantee agreements worth US$ 7.33 million (78 millions DH). Morocco, Economics, 7/18/2002 - Belarus, Iraq for boosting economic relations Iraq-Belarus, Economics, 7/17/2002
- Egypt's Stock Exchanges to improve procedures
In a separate note, according to the latest report by the Investment and Stock Exchange Department at the Ministry of Foreign Trade, Egypt ranked second among emerging markets in terms of profits from share transactions after Russia and the Czech Republic which came in first and third places respectively. Egypt, Economics, 7/16/2002 - Application of real estate finance law necessary to reactivate market
He said the real estate financing law which was recently promulgated would help banks provide financing through liquidity and profit guarantees, reactivating the real estate market for the limited income brackets. Egypt, Economics, 7/16/2002 - Jweili for pushing inter Arab trade; imports at $ 140 billion
The secretary general of the Arab economic unity council Ahmad Jweili has stressed the need of reactivating inter- Arab trade and the Arab tourism movement and to work for attracting Arab capital invested abroad in order to be invested in projects that serve all Arab states. Regional, Economics, 7/16/2002 - Egypt asks Israel to permit importing Palestinian gas
Egypt has asked Israel to permit it to provide Israel with gas from the gas fields of the Palestinian authority located off the coast of Gaza. Egypt-Israel, Economics, 7/16/2002 - Morocco's trade deficit alleviated by 27.9%
Morocco's trade deficit between January and May 2002 was worth 13.79 billion DH (US 1.3 billion), a decrease of 27.9% compared to the same period of 2001. Morocco, Economics, 7/16/2002 - Egypt approves approves internet e-signature draft law
According to the draft law, which symbolizes a bid to keep abreast of the growth in e-commerce, electronic signatures and handwritten signatures will be considered equally valid by a court of law. Egypt, Economics, 7/16/2002 - Deficit in balance of payments fall by 50 percent in 9 months
"Exports by the top ten Egyptian readymade clothing companies increase by 36 per cent, foodstuffs rose by 35 percent, and linen by 38 per cent," the report said. Egypt, Economics, 7/16/2002 - Cabinet reviews e-signature draft law
Egypt's Prime Minister Atef Ebeid today chaired a Cabinet meeting to discuss the E-Signature Bill, which will make electronic and handwritten signatures equally valid. Egypt, Economics, 7/15/2002 - Lebanon: Hilton hotel blown up for rebuilding
The Hilton hotel in the downtown of Beirut was blown up on Sunday morning. It was greatly damaged by the Lebanese civil war and great losses inflicted on it as a result. Lebanon, Business, 7/15/2002 - Islamic Development Bank offers $ 270 million to finance oil, river transport
Egypt's Prime Minister Atef Ebeid yesterday witnessed the signing of several cooperation agreements between Egypt and the Islamic Development Bank (IDB). Egypt, Economics, 7/15/2002