Arabic News Weekly Edition for Economics, 4/18/2005
Weekly Edition, Economics - Week of April 18, 2005
- French fund grants Morocco Euro 25 million loan for railway
The French Development Agency (AFD) has extended the Moroccan state-owned railway office a Euro 25 million loan destined to partially finance a railway between the northern city of Tangier and the new Tangier-Mediterranean port. Morocco-France, Economics, 4/23/2005 - Egypt's agricultural exports up to L.E 6 billion
The Egyptian agricultural exports upped to LE 6.155 billion from January to September 2004 compared to LE 4.301 billion in the same period of 2003. Egypt, Economics, 4/23/2005 - Egyptian Bourse, oil markets lead Middle East to economic boom
The World Bank said yesterday that the Middle East and North Africa scored in the last two years the biggest economic leap since the 1990s as rate of growth hit 6 percent in 2003 and 5.6 percent in 2004 due to a rise on crude oil prices and flourishing stock markets mainly the Egyptian bourse. Regional, Economics, 4/21/2005 - Recommendations on Improving Arab Banking and Financial System
The Arab Committee for Improvement of Financial and Accountancy Systems at the Arab League specialized affiliated establishments ended on Wednesday a seven-day meeting with a package of recommendations and suggestions to further update performance in this field. Regional, Economics, 4/21/2005 - Foreign Trade Ministry measures to remedy trade deficit
Encouraging investment in exports, concluding free trade agreements, and pursuing trade negotiations especially with African countries, are among the measures the Ministry of Foreign Trade has taken to limit trade deficit, said Tuesday, Morocco's Minister Mustapha Mechahouri. Morocco, Economics, 4/21/2005 - Sharaf: Investments projects to be set up to raise railways assets
Egypt's Minister of Transport Essam Sharaf said President Hosni Mubarak had issued a republican decree to dedicate about 190 million square meters nationwide to be used to set up investment projects in a bid to raise Egypt railways' assets. Egypt, Economics, 4/21/2005 - Bush calls for reduced U.S. dependence on foreign oil
US President George W. Bush urged the U.S. Congress to pass quickly an energy bill that is designed to reduce American dependence on oil imports and said the U.S. supply of energy "is not growing fast enough to meet the demands of our growing economy." Regional-USA, Economics, 4/21/2005 - Road accidents drop in Morocco first time in a decade, Minister
During the last ten years, road accidents increased at a yearly basis of 3pc, causing enormous economic losses. They cost Morocco annually over 1 billion Euro, that is 2.5 percent of the GDP. Morocco, Economics, 4/21/2005 - U.S. research targets hydrogen fuel cells, infrastructure
The 35th anniversary of Earth Day, April 22, represents a growing global commitment to a cleaner environment and to replacing finite stores of coal, oil and natural gas with renewable energy sources. One of the most challenging and potentially promising of these renewable resources is hydrogen. Regional-USA, Economics, 4/21/2005 - Boosting and Inspiring Dynamic Youth Achievement: A new beginning for Syria's entrepreneurs
In the presence of Syria's First Lady, Asma al-Assad, a celebration was held in Damascus on Monday evening on honoring ten young Syrian entrepreneurs, marking for progress they made in the project under the title Boosting and Inspiring Dynamic Youth Achievement (BIDAYA). Syria, Economics, 4/20/2005 - Cabinet ratifies bills to develop banking work in Syria
The Syrian cabinet on Tuesday ratified a number of bills to develop the banking system horizons in Syria. Syria, Economics, 4/20/2005 - Moroccan economic growth 'insufficient' for job opportunities, WB official
The economic growth rate in Morocco, which is situated at 4%, and the structural reforms the country carries out are "insufficient" to create new job opportunities, said here Tuesday the World Bank Chief Economist for the Middle East and North Africa Region. Morocco, Economics, 4/20/2005 - Morocco's GDP 'under-evaluated', official
Morocco's Gross Domestic Product (GDP) is "under-evaluated" because informal economy is not included in accounting, said the Vice President of the Federation of Small and Medium-Sized Enterprises. Morocco, Economics, 4/20/2005 - Over 9,000 km of rural roads built in 2004
Morocco extended rural roads network to reach 9,276 km in 2004, said the Ministry of Equipment and Transports. Morocco, Economics, 4/20/2005 - Two US oil companies get drilling licence in Morocco
Morocco has granted onshore oil drilling licences to two US companies "Direct Petroleum Morocco Inc" and "Anschutz Morocco Corporation" to conduct evaluation of the oil potential in the Moroccan region of Asilah-Tissa. Morocco-USA, Business, 4/20/2005 - Syrian-Turkish days to better reach EU markets
Days of the Syrian-Turkish Meeting 2005 financed by the EU are to open tomorrow in Damascus to explore ways on how Syrian- Turkish textile companies can get better access to the European markets. Syria-Turkey, Economics, 4/19/2005 - Saudi Arabia discovers oil field, produces 3300 barrels daily
Saudi Arabia has discovered a new oil field in the center of the country that produces light crude oil at a rate of 3300 barrels per day. Saudi Arabia, Economics, 4/19/2005 - Al-Thawra: Chinese factories to move to Syria
Visit of the Chinese businesswomen and men to Syria comes within the framework of initialing the establishment of a number of Chinese factories in Syria in cooperation with Syrian industrialists and businessmen resident in China, Arab investor and supervisor on the establishment of Chinese city in Adra, Sheikh Hashel Bin Zayed al-Mubarak said. Syria-China, Economics, 4/19/2005 - Arab bankers support forming an Arab banking system
President of the Arab Banking Federation called on Monday the Arab states to take additional procedures as to fortify the banking apparatus from money laundering and financing terror. Regional, Economics, 4/19/2005 - Libya faces the problem of escalated unemployment
Libya is facing the problem of unemployment which reached according to some estimates 15%, at a time that the state's administrative department is not able to hire more employees as the number of workers in it reached one fifth of the population. Libya, Economics, 4/18/2005 - The Middle East is in need to create millions of job opportunities
A World Bank report said that oil revenues which increased during the few past months are still not enough to cover the tremendous needs to create jobs for the young generation in the Middle East. Regional, Economics, 4/18/2005 - Debt forgiveness plan gains more international support, Snow says
A U.S. plan to forgive debt of the poorest countries to multilateral institutions is gaining more support among leading industrialized nations, U.S. Treasury Secretary John Snow says. Regional-USA, Economics, 4/18/2005