Syria Intends to Lift the Subsidies of Fuel Gradually.
Iraq to Hold a Conference in Dubai for Promoting Trade in the South.
"Al-Sharq al Awsat for Development" Seeks to Hold Projects in Syria, Yemen and Djibouti.
1 million dinar, the Total Value of Insurance Installments in Jordan.
The Establishment of the Fund of "1 Computer for Each Family in Palestine".
The Emarati "Iqarat.com", Starts its Activities in Jordan.
The Integration of Three Egyptian Insurance Companies.
The Iranian "LNG" Signs an Agreement with the Spanish "Socoin" Company.
Russia and the US Cooperate in the Field of Atomic Energy.
Does Arab Money Market Witness a Crisis?
The impact of mass media on shares prices at money markets has a different dimension in the Arab countries compared to the rest of the world. The relatively-newly establishment of the Arab money markets and the most recent activities of Arab investments in the money markets, especially with regard to the middle class sector in the Arab societies, have urged the investors to take decisions of buying and selling based on mass media propaganda, and not on a long-term economic analysis and the rule of winning and loosing.
With regard to that, Arab money markets, generally speaking, and the Gulf money markets, specifically, have been characterized by sensitivity towards any mass media shock that would eventually result in a real economic shock on the ground.
But what is more strange is the intervention of speculators in the Gulf states even in the future of this or that share, be it up or down.
Last week, Arab money markets witnessed a sharp decline amid rumors about the flee of foreign investors because of the chaos witnessed by world money markets.
Indicators of 8 money markets which are: The Emirati, Bahraini, Qatari, Omani, Palestinian, Moroccan, Tunisian and Egyptian money markets have declined, whereas four of them only: The Saudi, Kuwaiti, Jordanian, and the Lebanese money markets have resign.
The question is: How we can immune our money markets?
Syria Intends to Lift the Subsidies of Fuel Gradually
Syria is expected to start a gradual lifting of the subsidies of fuel in an attempt to stop more deficit in the budget. The decision was welcomed by some economic circles which call for a rapid transformation to the market economy, whereas other sectors, economic and public, express worry that this decision will have negative results on the poor and middle classes.
Iraq to Hold a Conference in Dubai for Promoting Trade in the South
The Iraqi government has held a conference under the title "Iraq for Work and Investments" in Dubai Emirate.
The conference will last till the end of this month. It is worth mentioning, that the conference was held with the aim of enhancing and promoting more foreign investments in the South of Iraq through making available for the small-sized companies, which require a finance not less than $1 m to invest, as well as the big companies which intend to invest with a total value of $200 m. 100 big investors in the South of Iraq and the companies of the GCC, as well as world companies took part in the conference.
"Al-Sharq al Awsat for Development" Seeks To Hold Projects in Syria, Yemen and Djibouti
The Executive Chairman of al "Al-Sharq al-Awsat" Company for Development, located in Dubai, Mr. Usama al Demashqi said that the company has started to buy lands in Syria, Yemen, and Djibouti for building new cities with billions of dollars.
Mr. al Demashqi added that the special group which the total value of assets under its management is estimated by $280 m, looks for expansion outside the Middle East and North of Africa.
1 million dinar, the Total Value of Insurance Installments in Jordan
Official statistics issued by the Jordanian Insurance Commission pointed out that the insurance sector witnessed a rise at the end of last July by 177.8 million dinars compared to 153.1 million dinars during the same period of 2006, and with an increase of 16%.
The Establishment of the Fund of "1 Computer for Each Family in Palestine"
The Palestinian Group of Telecommunications and "Al Rafah" Bank for Financing Small Projects have signed a cooperation agreement for establishing the fund of "1 Computer for Each Family in Palestine".
The Emarati "Iqarat.com", Starts its Activities in Jordan
"Iqarat.com" has announced that it started its activities in Jordan, represented by the real estate "Beit al Aamal" company, "Iqarat.com-Jordan". It is worth mentioning that the company was established 16 years ago in the UAE, and expanded later on in Jordan, Oman, and Kuwait.
The Integration of Three Egyptian Insurance Companies
Three insurance companies owned by the Egyptian government have expressed their intention to integrate in one insurance entity. The Egyptian Al-Sharq Insurance Company, and "Al-Masria" company said that they integrated with Egypt "Maser" company for insurance with a capital estimated by 1.9 billion Egyptian pounds, as well as a volume of assets estimated by 18 billion Egyptian pounds.
The Iranian "LNG" Signs an Agreement with the Spanish "Socoin" Company
The Iranian "LNG" company signed on Monday an agreement with Spanish "Soken" company for the management of the project of producing the liquid natural gas. The executive chairman of the company Ali Kheirandish, said that the Spanish company "Soken" takes part in Iran for the first time adding that it hit a record in executing projects of "LNG" for natural gas all over the world.
Russia and the US Cooperate in the Field of Atomic Energy
Russia and the US may sign agreement next Autumn -2007 to cooperate in the field of atomic energy for peaceful purposes. Deputy Chairman of the Russian Federal Agency for Atomic Energy, Nicolai Spasky said during the meeting of "The Round Table", dedicated for the 15 anniversary of the establishment of "Nunn-Lugar" program (Cooperative Threat Reduction Programme), that Russia supports signing the special agreement of cooperation in the peaceful use of atomic energy between the US and India.
The meeting of the Syrian-Jordanian economic and trade committee is due to start today in its second session with participation of the Ministers of Economy and Trade of both countries.
The volume of the direct of foreign investment in China had exceeded $750 bn by the end of June-2007.
The number of tourists who visited Egypt in 2006-2007 has reached 9.7 million tourists with an increase of 13% compared to the number recorded last year which reached 8.6 million tourists.
The total number of tourist who visited Jordan during the first 7 months of this year has reached 3.7 million tourists compared to 3.4 million tourists during the same period of last year with an increase of 8.7%.
National Bank of Kuwaitsaid that the sellings in the real estate sector have witnessed a considerable increase during last July, reaching 459.7 million dinars compared to 245.7 million dinars reached the previous month, with an increase of 87%.
The Taiwani "Acer" company for electronic industries intends to buy the American company "Gateway" in return for $710 m, to become the third biggest producer of personal computers in the world.
Bids & Contracts
The governmental Iranian gas company has signed an agreement in Tehran with the Spanish "Socoin" for the management of the project of producing liquid natural gas with a total value of 36.5 million Euro, to be executed within 36 months.
Conferences & Exhibitions
The Syrian Chamber of Trade is due to hold the activities of the Syrian-European meeting in cooperation with the Syrian-European Business Center between 8-10 of next September, with the participation of 22 agricultural companies from the different Syrian governorates, and 30 European companies from Britain, Italy, Poland, Bulgaria, Romania as well as companies from Tunisia and Ecuador.
The joint second exhibition of cars between Iran and China is due to be held between 7-10 of next September in the Chinese "Tian Gen" city located 120 km away from the Chinese capital Bejing.