Iran and Nicaragua bypass United States

Lines Don’t All Lead to Washington

The consecutive American administrations have been trying, for many years, to impose themselves as the world’s policeman for military and economic considerations which these administration think they represent the trailer of world economy, and that each state does not provide its “train” with fuel will not be able to address the economic needs of its people.
In fact, USA is trying with full determination, to impose its logic but it seems that things don’t go according to its wishes, as we are witnessing everyday further expansion in a network of economic relations among different world countries that don’t go in line with the US economy, rather these relations are characterized by refusing Washington’s political logic based on its economic thinking.
Within this context, we can read the results of the agreement signed lately between Iran and Nicaragua, and according to what President Daniel Ortega of Nicaragua announced, that this agreement is about building a new seaport by the Iranian side in Nicaragua with a total value of $350 m in return Tehran will get coffee, meat, and banana from Nicaragua.
This agreement would strengthen bilateral cooperation between the two countries, and may be it explains what Condoleezza Rice said that Iran stands against the US interests.

Syria in the Report of Arab Investment Climate for 2006

A report issued lately by the “Arab Establishment for Investment Guarantee” said that Syria was among 12 Arabs countries which recorded growth rate in the field of investments in 2006 exceeding the international growth rate which is 4.5%.
Syria occupied the ninth position with a growth rate estimated by 6.3% whereas Mauritania came first with a growth rate estimated by 11.7% followed by Emirates and Sudan by 10.7% and 10.3% consecutively.

Big Iranian Investments in Senegal

A statement issued by the Senegali government last Saturday said that an agreement had been reached with Iranian officials for building an oil refinery, two petrochemicals factories, and a factory for cars manufacturing.
It is worth mentioning that Iran pledged to invest $80 m for building cars factory in Senegal which the Iranian “Iran Khodro” company owns 60% of it, the Senegali government owns 20% and Senegali investors own 20%.

The Iranian “Samand” Car Succeeds in Entering the Egyptian Market

An official source in “Iran Khodro”, the promoting company of the Iranian-made “Samand” car said that there is a big turn out by the Egyptians and foreigners living in Egypt to buy “Samand” car.
The official pointed out that “Samand” car is characterized by high technical specifications that are suitable for the Egyptian roads in addition to its competitive price compared to Asian and European cars.

The Algerian “Sonatrach” Company Invests in “Tassili Airlines”

Al-Khabar newspaper quoted the General Director of “Tassili Airlines”, Rachid Nouar as saying that the energy company “Sonatrach” has allocated $1.2 bn for modernizing “Tassili Airlines”.

Libya Plans for Building Six Cement Factories in Africa

The Libyan International Group for Investment and Development announced that it intends to build three cement factories among other six it plans to build in the African content.
It is worth mentioning that the volume of financing the building of these factories is $2 bn.

Mauritania Grants Sudanese and Chinese Companies the Contract of Constructing Railways Network

The Mauritani news agency said yesterday that the government has granted a Sudanese and a Chinese companies a contract for laying railways of 430 km connecting Nouakchott with Qaede cities.

The Commercial Bank of Kuwait Tries to Possess 60% of the Al-Watany Bank of Egypt

The Kuwaiti Al-Watan newspaper said that Kuwait trade bank intends to buy 60% share of the Al-Watany Bank of Egypt.
The newspaper further said that a Kuwaiti investor intends to buy a share of 10% of the Egyptian bank.

1$ m , the Profits of “Dar al Esthemsar” Company

The Islamic Investment Company “Dar al Esthemsar” said yesterday that its net profits in the second quarter of this year have reached $180m raising by 128.8% compared to the same period of last year.

Expectations of Rise of the Lebanese Industrial Exports to $3 bn

Chairman of the Council of Development of Industrial Exports in Lebanon, “Mohammad al Refai” expected the Lebanese industrial exports to reach about $3 bn in case stability was secured in the country.
Mr. al Refai said that the increase of exports was due to great efforts exerted by factories for increasing their exports to external markets to compensate their losses inside the country.

The Establishment of “The Arab Insurance Institute” in Damascus with a Cost of $10 m

The founding stone of “The Arab Insurance Institute” has been laid in Damascus countryside with a total cost of $10 m. It is worth mentioning that 33 Arab companies have been taking part in establishing the institute till now. The Syrian news agency SANA quoted the Syrian Minister of Finance as saying that the Syrian insurance market has achieved during the second quarter of this year and increase by 40% compared to the first quarter of the same year.

Syria and Turkey Agree on Building a Factory for Trailers Manufacturing

Syria and Turkey have agreed on building a factory for fright trailers manufacturing in Aleppo city. The capital of the company estimated by $30 m will be distributed in half between the Syrian and Turkish directorates of railways with 49% for each, and the remaining 2% will be left for the two countries.

Companies Indexes

– “Al-Nama” Joint Stock Corporation has joint the group of the contributing companies which intend to register their shares in Damascus stock market with the capital of the company estimated by 842.5 million Syrian pounds.
– The Arab Banking Establishment announced that it achieved net profits of $143 m compared to the first half of 2007, with an increase of 29% of the profits of the company reached at the same period of last year estimated by $111 m.
– The profits of the National Company for Cement in Egypt have dropped by 2% according to what the final results showed.
– Emirates Islamic Bank announced that its net profits during six months reached 76 million dirhams with an increase of 48% compared to the same period of last year.
– The leading Indian “Infosys” company in the field of exporting program services announced, according to the E-Economic newspaper, that it signed an agreement with the Canadian railways company “Canadian Pacific” for five years for providing the services of information technology for the second biggest railways transportation in Canada.

Bids & Contracts

– The two ompanies: “Aldar Properties” and “Sorouh Real Estate” in Abu Dhabi announced that they intend to establish a finance company with two local partners.
– An official in the General Directorate in the GCC expected the costs of the project of laying railways network which connects the GCC countries to range between $10-14 bn.

Small Indexes

– Aleppo Chamber of Commerce has been granted “ISO” certificate for the third year consecutively.
– 35.000 tourists from the Gulf states visited Jordan in one day of last July, according to the directorate of immigration and passport in Jordan.
– Algeria and Tunisia signed yesterday 9 agreements in the field of operating, exchanging documents, legislations, studies, information, and mutual recognition of driving licenses and preserving traffic safety.
– The Iranian Counselor in Shanghai, Mohammad Reza Nazeri, said last Saturday that the volume of trade exchange between Iran and Shanghai in 2006 reached $2 bn and $200 m, adding that it will reach $3 bn at the end of this year.
– The sellings of semi-connectors in the world have witnessed a declined by 2% during the second quarter of this fiscal year reaching $59.9 bn compared to the same period of last year.

Exhibitions & Conferences

– The Islamic Development Bank in cooperation with the Bank Keshavarzi (Agri-Bank of Iran), will held on the 23rd of this month in Tehran the meeting of foreign investments and financial insurance. The meeting will discuss many topics among them acquainting with the participation of the Islamic Development Bank with the private sector and ways of benefiting from facilitations it provides.
– The 16th exhibition of hand-made carpets is due to be held between 23-29 of this month in Tehran. According to Irna agency, 600 businessmen from Germany, America, France, in addition to Iran and Middle East countries will take part in the exhibition.
– The Federation of Industries in Babel governorate has revealed that it intends to hold an international exhibition in the governorate similar to Baghdad International Exhibition.