Arabic News Weekly Edition for Economics, 6/16/2003
Weekly Edition, Economics - Week of June 16, 2003
- Omani treasury bills bidding session
A bidding session of the Omani treasury bills issue No. 370 was held at the premises of the Central Bank of Oman (CBO) during this week Oman, Economics, 6/21/2003 - Moody's changes Morocco's outlook to stable from negative
Moody's Investors Service has changed to stable from negative the outlook on Morocco's foreign currency country ceiling and local currency government bond rating of the Kingdom of Morocco. Morocco, Economics, 6/21/2003 - Egypt, EU to sign transitional agreement next month
European Union (EU) Commission Chief Ambassador Ian Boag preparations were already under way between Egypt and the EU to sign a transitional agreement within the framework of the Association Agreement between the two sides, expecting the signing to take place late next month. Egypt-European Union, Economics, 6/21/2003 - Four companies compete for oil exploration in Syrian water
The Syrian oil company announced yesterday that four international companies are competing over a contract for exploring oil in the Syrian regional waters. Syria, Economics, 6/21/2003 - More than us $740 mln of investments in Morocco in first quarter of 2003
The volume of investments in Morocco in the first quarter of 2003 reached nearly US $740 million, 7.4 billion dirhams, that is the triple of the amount registered last year. Morocco, Economics, 6/21/2003 - WHO earmarks us $30.000 micro-loans to finance projects in Sale
The World Health Organization (WHO) allocated to Rabat's twin city of Sal? micro-loans worth US$ 30,000 to finance socio-economic projects. Morocco, Economics, 6/21/2003 - Morocco has important but untapped potentials in renewable energy, official
Morocco, which imports 97% of its energy needs, possesses important but untapped potentials in renewable energy, including a solar radiation estimated at 5Kwh/M2/Day, a wind potential of 6,000 MW and a forest wealth of 9 million hectares, director general of the renewable energies development center, Abdelhanine Benallou, said here on Friday. Morocco, Economics, 6/21/2003 - World Bank calls for better land policies for the poor
Strengthening poor people's rights to own and rent land can lead to social and economic gains and improve local governance, the World Bank says. Regional, Economics, 6/21/2003 - Commercial Banks in the Sultanate - Monetary Position Oman, Economics, 6/21/2003
- WTO starts plenary session in Sharm el Sheikh today
Some 33 ministers representing 29 countries held a plenary session on Friday ahead of the World Trade Organisation (WTO) informal two-day meeting to kick off Saturday under the chairmanship of Egyptian Minister of Foreign Trade Youssef Boutros Ghali. Regional-Egypt, Economics, 6/21/2003 - Libya unifies Dinar exchange rate
Libya has taken an additional step in its economic reform plan and announced the unification of the Libyan dinar exchange rate, ending thereby the many rates currently allowed. Libya, Economics, 6/20/2003 - Morocco issues first international bond loan
Morocco's finance and privatization minister, Fathallah Oualalou, will conduct starting Friday a roadshow in Bahrain, the UAE, France and the United Kingdom to promote the kingdom's first bond loan. Morocco, Economics, 6/20/2003 - Morocco moves to develop fisheries
Morocco's Prime Minister, Driss Jettou, on Thursday chaired a meeting on the study of an action plan to develop the fisheries sector, covering the period between 2003 and 2007. Morocco, Economics, 6/20/2003 - Morocco, EU likely to conclude agreement on agriculture before end of the year
RABAT, June 19 (MAP)- Morocco and the European Union are likely to conclude an agreement on agriculture before the end of the year, Morocco's ambassador to the European communities in Brussels, Aicha Belarbi, said here on Wednesday. Morocco-European Union, Economics, 6/20/2003 - Emirates, QATAR airliners make mega deals with AIRBUS
Airbus said in a press release yesterday that "Qatar Airways has announced its intention to acquire 32 Airbus aircraft - including 14 options - to modernise and expand its fleet, as part of a deal that is the largest in its history. Regional-European Union, Economics, 6/20/2003 - France extends Morocco 750,000 Euro for expats' enterprise creation
The French Development agency signed on Wednesday with the Sindibad fund, an affiliate of the pension managing CDG, a 750,000 Euro subsidy to promote investments in rural tourism and innovating SME's by Moroccan expatriates. Morocco-France, Economics, 6/20/2003 - U.S. Senators moot bill for broad mideast trade preferences
The Bush administration has already set a goal of negotiating a regional free trade pact with Middle East countries by 2013 to help promote peace and prosperity. But Sen. John McCain, an Arizona Republican, and Sen. Max Baucus, a Montana Democrat, said one-way U.S. trade preferences would provide faster help. Regional-USA, Economics, 6/20/2003 - Prince Moulay Rachid meets a top official from Qatar's Islamic bank Morocco-Qatar, Economics, 6/20/2003
- US agency focuses Morocco strategy on job generation
The United States Agency for International Development (USAID) said it will focus its new Morocco strategy on generating more jobs. Morocco-USA, Economics, 6/20/2003 - Libya asks to join WTO, liberalize economy with vibrant private economy, active public role
The Libyan prime minister stressed that the new government "is determined to introduce liberalism to the economy and encourage active participatory approach to both the private and public sectors to boost them." Libya, Economics, 6/19/2003 - Arab Economic Union (AEU) chief stresses importance of Arab economic integration
"There is a pressing need for a comprehensive Arab citizenship, as opposed to mere nationality, which would promote Arab cultural exchange as the basis for an Arab common market," Secretary-General of the Arab Economic Union (AEU) Ahmed Joweili said. Regional, Economics, 6/19/2003 - Morocco, Peru sign three cooperation accords
The first accord deals with reinforcing trade of goods and services, encouraging investments and creating joint ventures. A joint trade commission will follow up the implementation of the accord, evaluate bilateral trade and draw up measures likely to boost trade exchanges and settle related differences. Morocco-Peru, Economics, 6/19/2003 - Morocco, US agreed on FTA general guidelines, minister
Morocco and the US have agreed on the general guidelines of the legal framework of the free trade accord during the 3rd round of negotiations held earlier this month in Rabat, Moroccan delegate minister for foreign affairs and cooperation, Taib Fassi Fihri said Tuesday. Morocco-USA, Economics, 6/19/2003 - New petroleum investments in Egypt Egypt, Economics, 6/19/2003
- Morocco, Equatorial Guinea to reinforce cooperation in fisheries Morocco-Equatorial Guinea, Economics, 6/19/2003
- US to concentrate on FTA negotiations with Morocco, US official
The US administration will focus on FTA negotiations with Morocco and other trade initiatives following the conclusion of free trade accords with Chili and Singapore, US trade representative deputy assistant, Peter Allgeier, said Tuesday. Morocco-USA, Economics, 6/19/2003 - Syrian- French communication, transport relations
Syria's Transport Minister Mukram Obeid and French Minister of Equipment, Transport, Housing, Tourism and the Sea Gilles de Robien reviewed in Paris yesterday ways of activating the signed agreements between the two transport ministries in the two countries. Syria-France, Economics, 6/18/2003 - Arab entrepreneurs union meet in cairo over Iraq reconstruction
The Arab Entrepreneurs Union will hold in Cairo on June 19 a meeting to examine the participation of Arab enterprises in the reconstruction of Iraq, the Union's chairman, Ahmad Saaf Balhassa, announced on Tuesday. Regional-Iraq, Economics, 6/18/2003 - Egypt, Japan work jointly to reconstruct Iraq, Abul Naga says Egypt-Iraq, Economics, 6/18/2003
- EU wants gradual agreement with Morocco in agricultural produce
Head of the European delegation in Rabat, ambassador Sean Doyle, said the European Union is seeking a "gradual" agreement with Morocco on agricultural produce with a clause providing for revision every five years. Morocco-European Union, Economics, 6/18/2003 - Morocco's employers association awarded ISO 9001 certificate Morocco, Business, 6/18/2003
- Morocco-UAE joint venture buys over five-star hotel in Rabat
The Morocco-UAE Development Company (SOMED), equally owned by Moroccan and UAE public investors, has bought 100% of the capital of Daweoo-Rabat, owner of a five-star hotel in Rabat. Morocco-United Arab Emirates, Economics, 6/18/2003 - Four Arab states poised to proclaim free trade zone
Morocco, Egypt, Tunisia, Jordan will proclaim shortly the creation of a joint free trade zone, as a step towards a broader Arab common market. Regional, Economics, 6/17/2003 - Morocco's trade policy aims at consolidating rule of law (minister)
Trade policy reforms and efforts undertaken by Morocco are part of its efforts to consolidate the rule of law and democracy, for a strong, job-creating growth, said here Monday Moroccan minister of foreign trade, Mustapha Mechahouri. Morocco, Economics, 6/17/2003 - Egypt-US free trade area talks take two years Egypt-USA, Economics, 6/17/2003
- Exchange market stable, exchange rate down
Foreign currency exchange rates went down on the exchange market over the last two days due to the increase in supply in foreign currencies and return of Egyptians working abroad. Egypt, Economics, 6/17/2003 - 30 states partake in Sharm el Sheikh conference to prepare for WTO ministerial meeting in Mexico
Minister of Foreign Trade Youssef Boutros Ghali is attaching great importance to the World Trade Organization (WTO) informal ministerial meeting to be held in the Red Sea retreat of Sharm el Sheikh on June 21-22, which will be attended by 30 world trade ministers, within the preparations for the fifth WTO ministerial meeting slated for late September in Cancun, Mexico. Egypt-Regional, Economics, 6/17/2003 - Egypt, Jordan review final touches in Arab national gas pipeline
Minister of Petroleum, Sameh Fahmi discussed with visiting Jordanian Minister of Energy and Mineral Wealth, Mohamed Al-Battayna and his accompanying delegation the final touches in the Arab natural gas pipeline from Al-Arish to Aqaba in preparation for its inauguration. Jordan-Egypt, Economics, 6/17/2003 - Syrian - UAE talks to encourage investments
A delegation representing the Syrian Chamber of Commerce headed by its Chairman Ratib al-Shallah discussed in Dubai with Dubai chamber of commerce and industry ways of developing trade exchange between Syria and the UAE and encouraging mutual investments. Syria-United Arab Emirates, Economics, 6/16/2003 - First exhibition for Syrian products in Tehran
Deputy of the Iran's Minister of Economy, Mujtabi Khesrotag, and the Syrian Ambassador to Iran Hamed Hasan opened in Tehran yesterday the First Exhibition of the Syrian Products which will last three days, and which is organized by the General Establishment for Exhibitions and International Markets with the cooperation of al-Masri Company. Syria-Iran, Economics, 6/16/2003 - Morocco will honor commitment for phone operator privatization, minister
Morocco will live up to its commitment to sell 16% of Maroc Telecom' capital to French-American Group Vivendi Universal, minister of finance and privatization, Fathallah Oulaalou, told MAP. Morocco, Business, 6/16/2003