Arabic News Weekly Edition for Economics, 6/6/2005
Weekly Edition, Economics - Week of June 6, 2005
- Syria joins treaty to settle investment disputes Syria-USA, Economics, 6/11/2005
- Egyptian companies to end 2nd phase of Arab gas line ahead of schedule
In an unprecedented achievement in implementing mega projects, the consortium of Egyptian government companies, entrusted with developing the second phase of an Arab natural gas line, has promised to finish the job one year ahead of schedule, consortium sources said. Egypt-Regional, Economics, 6/11/2005 - Syria, Iraq to enhance relations of cooperation in water resources
Syrian-Iraqi joint cooperation in field of water resources and means of developing this cooperation and coordination to serve interests of the two states were discussed on Friday during the Syrian-Iraqi ministerial meeting. Syria-Iraq, Economics, 6/11/2005 - $ 20 billion new investments in oil sector over five coming years
In light of Egypt's President Hosni Mubarak's new economic directives as well as the policies of the 3rd generation for reform, Minister of Oil Sameh Fahmy said that the plan of oil sector aims to attract $ 20 billion investments in the domain of natural gas production. Egypt, Economics, 6/11/2005 - Iraq resumes oil exports from the south
Oil exports resumed on Friday from the south from the main al-Basra port on the Gulf after these exports were obstructed during the two past days because of the bad weather conditions. Naval data said that loading oil from the south is made at a rate of 1.5 million barrels daily. Iraq, Economics, 6/11/2005 - Rumours on Dirham devaluation groundless, ministry
No action on the change of the Moroccan currency exchange rate is slated, the finance ministry said denying the rumours ran by some media lately concerning a would-be devaluation of the Dirham. Morocco, Economics, 6/11/2005 - Some 65% of Moroccan expatriates prefer to settle in Morocco after retirement, survey
Sixty-five per cent of Moroccan Expatriates would settle definitely in Morocco after reaching the retirement age, against 28% who would remain in the host country and 7% undecided, according to a survey launched in 2003 among a sample of 1000 expatriates. Morocco, Economics, 6/11/2005 - Moroccan exports growth estimated at 3.6% in 2000-04 Morocco, Economics, 6/11/2005
- Egypt to launch LE 7.5 billion investments in new electricity projects Egypt, Economics, 6/11/2005
- Azmi: New tax law received widespread discussion
Zakaria Azmi, the Chief of the Presidential cabinet in Egypt said in his statement before the gathering, that the "new income tax was discussed by different party and political affiliations before being sent to the President for signature." Egypt, Economics, 6/10/2005 - Othman: Inflation downs to 4.5 percent, growth ups by 5.2percent Egypt, Economics, 6/10/2005
- al-Thawra: Syrian real-estate bank loans at 52 billion S.P.
A banking sources estimated the volume of loans and financing offered by the Real-Estate Bank during the first quarter of the current year by Syrian pounds at 1.347 billion. Syria, Business, 6/10/2005 - Egypt-US detailed discussions on free-trade zone treaty underway Egypt-USA, Economics, 6/10/2005
- Libya US oils and gas talks Libya-USA, Economics, 6/10/2005
- Mubarak addresses economists on new income tax law
Egypt's President Hosni Mubarak said the new income tax law will help cut taxes by half and ease the tax burden on citizens; thus ensuring a bigger income for families and guaranteeing better living conditions. Egypt, Economics, 6/9/2005 - Poverty in Syria in a new statistic
Some 11.4 % of Syria's citizens, about two millions Syrians, are living under poverty line Joint Syrian and UN study showed Wednesday. Syria, Economics, 6/9/2005 - Al-Thawra: Investment project of Lebanese-Arab Insurance Company
"The Syrian insurance law is characterized by clearness which is distinguished from other insurance laws of the Arab and foreign countries, the thing which help to attract more customers on the Syrian insurance market," Director General of the Arab-Lebanese Insurance Company owned by Awdeh Bank Salam Hanna said. Lebanon-Syria, Business, 6/9/2005 - Morocco ponders pegging domestic oil prices to international market
Moroccan minister of Finance and Privatization, Fathallah Oualalou highlighted, here Wednesday, the need to re-implement the system that pegs domestic oil prices to international market. Morocco, Economics, 6/9/2005 - Sales of telecommunication sector in Morocco tripled
The sales volume of the telecommunications sector has increased three folds between 1998 and 2004, and it currently represents 5pc of the GDP, said Abdeslam Ahizoune CEO of Maroc Telecom. Morocco, Economics, 6/9/2005 - Canadian international companies to prospect in Morocco
Canadian international companies, Stratic Energy Corp. and Transatlantic Maroc Ltd will prospect the Guercif-Beni Znassen region (east) under a contract signed in Rabat Wednesday, said a communique of the Moroccan Office of Hydrocarbons and Mining (ONHYM). Morocco-Canada, Economics, 6/9/2005 - National carrier to reinforce fleet to serve Africa
Morocco's national flag carrier, Royal Air Maroc (RAM), is mulling the reinforcement of its fleet to serve new lines especially in the African continent, revealed, here Wednesday, Mohamed Berrada, RAM Chief Executive Officer. Morocco, Business, 6/9/2005 - Pragmatic actions adopted to promote Morocco in U.S., US diplomat
US ambassador in Rabat, Thomas Riley, said his country has adopted a pragmatic drive to promote Morocco in the United States after the two countries signed a Free Trade Agreement (FTA) last June 15. Morocco-USA, Economics, 6/9/2005 - Morocco to be admitted to IMF Data Dissemination Standards in October
Data dissemination standards help enhance the availability of timely and comprehensive statistics, which contributes to the pursuit of sound macroeconomic policies. Morocco, Economics, 6/8/2005 - Al-Thawra: Ten insurance companies to operate in Syrian market
Director General of the Supervisory Board on Insurance in Syria Abdullatif Abboud stressed that more than 10 Arab and foreign insurance companies are expected to apply for licenses to establish private-owned insurance companies in the country. Syria, Business, 6/8/2005 - RAM contributes to creation of Gabonese carrier
The Moroccan carrier, Royal Air Maroc (RAM) will contribute to the creation of a new Gabonese airliner dubbed "Air Gabon International," announced a RAM official. Morocco-Gabon, Business, 6/8/2005 - New air line to link Algiers to Casablanca
The Moroccan carrier "Royal Air Maroc" is flying an additional trip between Algiers and Casablanca as of July 1st on Fridays, according to RAM sources. Morocco, Business, 6/8/2005 - Russia to launch Egyptian-Saudi Sats Regional-Russia, Economics, 6/8/2005
- Qatari gas pipeline for Asia in Hamad- Musharraf talks
The Amir of Qatar Sheikh Hamad Bin Khalifa Al Thani held on Monday with the President of Pakistan B. Musharraf in Doha talks that dealt with oil and gas projects between the two sides as well as means of enhancing bilateral cooperation relations. Qatar-Pakistan, Economics, 6/7/2005 - UAE company invests $ 5.4 billion in a real estate project
A group of investors in the United Arab Emirates intends to spend 5.4 billion dollars in order to build offices and houses that can accommodate 80,000 persons on an island close to the capital Abu Dhabi. United Arab Emirates, Economics, 6/7/2005 - Tunis increases Benzene price to reduce deficiency in energy budget
The Tunisian government increased the price of Benzene at a rate of 5% to reduce the deficient in the energy budget following the increase in international prices. Tunisia, Economics, 6/7/2005 - Syria to move towards a free decentralized economy
At the annual meeting of the Federation of the Syrian Chambers of Commerce held yesterday in Lattakia, Economy and Trade Minister Amer Hosni Lutfi made a presentation in which he talked about the government plan to move towards a free decentralized economy. Syria, Economics, 6/6/2005 - Gulf states rules out Washington from collective trade agreements
The Kuwaiti foreign minister Sheikh Muhammad Salem al-Sabah said that the Gulf Cooperation Council GCC states decided to rule out the USA from its collective trade agreements. But he explained in a seminar held in Kuwait that the GCC member states permitted Washington to convene bilateral trade agreement for free exchange. Gulf-USA, Economics, 6/6/2005 - Abul-Naga: One billion dollar of Egyptian debts converted into investments
Egypt succeeded in converting $ one billion of its debts to Italy, Germany and Switzerland into investments by the three counties into development projects, International Cooperation Minister Fayza Abul-Naga said Sunday. Egypt-European Union, Economics, 6/6/2005 - Fahmy signs three oil agreements with British, Italian, German, Croatian firms
"As Egypt signs more petroleum agreements, more oil reserves are discovered and exports increase," said Minister of Petroleum Sameh Fahmy yesterday. Egypt, Economics, 6/6/2005