Arabic News Weekly Edition for Economics, 11/25/2002
Weekly Edition, Economics - Week of November 25, 2002
- Prime minister forecasts 4% growth rate in 2000-2004
As regards internal debt, he vowed to continue efforts to promote and modernize the capital markets which has been successful in secure stable and non-costly financing sources. Morocco, Economics, 11/30/2002 - Morocco's premier announces construction of dam in flood hit city
Morocco's Prime Minister, Driss Jettou disclosed in rabat on Thursday a government plan to build, as of next year, a dam in Mohammedia city, 60 km South Rabat, to contain flash floods caused by heavy rain that hit several regions of the country claiming more that thirty fatalities and considerable material damage. Morocco, Economics, 11/30/2002 - Egypt's long-staple cotton hits 40% of world production
Egyptian cotton comes in the lead at world level atop long staple cotton production. Egypt, Economics, 11/30/2002 - Morocco's hydrocarbon needs secured for next 15 days, refinery manager
Morocco's reserves in hydrocarbons, beefed up by the importation of some 90,000 tons of gasoline can meet the country's needs for the coming 15 days, general manager of the SAMIR oil refinery, Abderrahmane Saaidi, said. Morocco, Economics, 11/30/2002 - Syria, Bahrain for boosting trade relations
Syria's Minister of Economy and Foreign Trade, Ghasan al-Refaee and a Bahraini Commerce Chamber delegation headed by the Chamber Deputy, Yousef al-Saleh discussed yesterday cooperation in the banking sector between the two states and the possibility of establishing Syrian- Bahraini joint bank in Damascus. Syria-Bahrain, Economics, 11/29/2002 - Saudi government approves 2003 budget; 10.4 billion deficit
Saudi Arabia, the first oil exporter in the world, on Wednesday evening approved the general budget for 2003 with a deficit estimated at 39 billion Saudi riyals ( USD 10.4 billion), representing a decrease of 3.13 % in comparison with the deficit it had expected for the current year ( USD 12 billion). However, due to the increase in oil price, the deficit in the Saudi budget for 2002 will not exceed USD 2.2 billion, according to estimates of the new government. Saudi Arabia, Economics, 11/29/2002 - Securities and exchange commission suspends listing of Samir on casablanca stock exchange
The Securities and exchange commission, the council managing the Casablanca stock exchange, has suspended the listing on the stock market of the oil refinery "Samir." Morocco, Business, 11/29/2002 - Morocco, World Bank probe cooperation
Moroccan minister of territory planning, water and environment, Mohammed El Yazghi, probed in Rabat Wednesday with the director in charge of the Middle East and North Africa at the World Bank, means to enhance cooperation in hydraulic resources management in Morocco. Morocco, Economics, 11/29/2002 - Egypt to have highest monitoring and standards for banking sector
The CBE has approved a new list of chartered accountants who will be in charge of auditing the annual financial statements and budgets of commercial banks operating here, he said. Egypt, Economics, 11/28/2002 - CBE to play active role in money market
the new policy depends on transparency in management and reconsidering the regulations of the current monetary policy. The policy aims to achieve three main targets: providing accurate and sufficient information at the right time and curbing contradiction and duplication of duties among various departments of the CBE, said Abul Eiyoun. Egypt, Economics, 11/28/2002 - Les Echos: Morocco's premier to administer shock therapy to economy
Concerning the administration and justice reforms, claimed by corporate interests, Les Echos said that Jettou promised setting high standards for public life, and fighting corruption. Morocco, Economics, 11/28/2002 - New monetary policy to achieve interest rate flexibility, says CBE chairman
The new monetary policy in Egypt is designed to turning the Central Bank of Egypt (CBE) from the containment role dealing with its intervention in the monetary market into an active and positive role to achieve flexibility in the interest rate, said CBE chairman Mahmoud Abul Eyoun. Egypt, Economics, 11/28/2002 - Jweili for revitalizing joint Arab work
The secretary general of the Arab economic unity council Ahmad Jweli has called for the need to revitalize joint Arab work in all fields especially in the economic areas and to move towards the foundation of the joint Arab market and increasing the volume of inter- Arab trade. Regional, Economics, 11/28/2002 - Moroccan-US trade relations at center of talks in washington
Moroccan delegated minister for foreign affairs and cooperation, Taieb El Fassi Fihri, currently on a visit to Washington, held talks Tuesday with US secretary of commerce, Don Evans. Morocco-USA, Economics, 11/28/2002 - Liberation: Morocco will have no problem joining the EU, doyle
Morocco will be have no problem in joining the European Union, provided that it speeds up its reforms for a better economic performance, an efficient social management and the promotion of justice and social equity, the European commission's ambassador to Rabat, Sean Doyle, said. Morocco-European Union, Economics, 11/28/2002 - Oil sector, restructuring not privatization
On the 27th anniversary of the regaining of the Sinai oil fields in November 17, 1975, Minister of Petroleum Eng. Sameh Fahmi held an open meeting with journalists where explained his ministry's policies and strategies as well as its standing related huge changes and challenges. Egypt, Economics, 11/28/2002 - World Bank underlines readiness to provide Egypt technical assistance
James Wolfensohn, the president of the World Bank, has expressed the bank's readiness to provide the aid requested by Egypt to carrying out social and economic development programmes. Egypt, Economics, 11/28/2002 - New U.S. investments in petrochemicals Egypt-USA, Economics, 11/28/2002
- Syrian products exhibition in Tripoli witnesses turn out
The Second Syrian Products Exhibition which has started last Thursday in Tripoli, Libya has been experiencing unprecedented attendance. Libya-Syria, Economics, 11/27/2002 - Citrus fruit expected to record 13% growth in 2002-2003 campaign Morocco, Economics, 11/27/2002
- Syria and Jordan for boosting tourism relations
Jordan's minister of transport Nader Zahabi opened on Sunday the locomotive tourist "Saloon" in order to encourage tourism between Syria and Jordan. Syria-Jordan, Economics, 11/26/2002 - Egypt and COMESA trade up Egypt, Economics, 11/25/2002
- Shooting of Alexander the Great to Create 20,000 Seasonal Jobs
The shooting in Morocco of Baz Luhrman's Super-production "Alexander the Great" in 2004 will create 20,000 seasonal jobs, said production director at the Moroccan Cinema Center (CCM). Morocco, Economics, 11/25/2002