Oil Prices Range between Decline and Rise

Oil Prices Range between Decline and Rise

Is it only fears of falling in an international crisis that starts by cash money and storms oil, reaching a big financial problem, or is it a secondary crisis that does not deserve analysis?
Observers are maybe more pessimistic or less optimistic, but what the two sides agree on is that the international economic cycle has become more and more exposed to take the other way round.
Oil prices have dropped during the past six days, and they are now less than 10% than their higher prices recorded at the beginning of August. The crisis in the sector of real estate financing of high dangers, that storms share markets, and international insurance markets has effected oil prices, but losses were limited with the strong intervention by the Federal Reserve Council (The American Central Bank), and other central banks for pumping cash money in financial markets.
Central banks all over the world have pumped no more less than $323 bn during 48 hours amid fears that the crisis or the sector of real estate financing would affect at the end the world economy.

Algeria Decreases the Percentage of Taxes Aiming at Liberating Investments

The Algerian Government Announced last Week that it decreased Taxes in an attempt to increase the foreign investments and revenues from the local companies, which usually don pay the due taxes.
Statistics issued by Ministry of Finance pointed out that 40% of the Algerian Companies don’t announce their profits because they think that the percentage of taxes is very high.

142 Winning Companies at Kuwait Stock Market within One Week

An economic report issued yesterday said that the registered companies at the Kuwaiti stock market have continued during last week to announce their results for the first half of this year.
The number of these companies reached 142 companies till mid Wednesday, achieving net profits of 2.52 billion dinars.

The European Central Bank Pumps a Record Sum of Money in the Financial Circles

The European Central Bank pumped yesterday a record some of money estimated by 94 billion Euro in the financial circles at Euro region for compensating the unexpected dealings in the market which are related to the crisis of high danger loans.

“Emaar” Promotes for “Samarah Dead Sea Golf & Beach Resort” in Jordan

“Emaar International Jordan”, owned by “Emaar Properties”, located in Dubai has announced that it started promoting the project of the first phase of its project carried out on the cost of the dead sea with a total cost of about $500 m, by the name of “Samarah Dead Sea Golf & Beach Resort”.

An Iraqi-Iranian Agreement on Laying an Oil Pipeline

News agencies in Tehran have quoted a prominent Iranian official as saying that Iran and Iraq will sign an agreement during the next coming days for laying a pipeline that transforms crude oil from fields south of Iran to refineries in Iran.

$30 m, for Poor Families in Palestine

The Palestinian National Authority and the UNDP announced the launching of a program for supporting the poor Palestinian families financed by the “Islamic Development Bank” with a value of $30 m.

The Deputy of the Commissioner of UNRWA Warns of the Collapse of Economic Situation in Gaza

Deputy of the Commissioner of UNRWA, Filippo Grandi, has warned of an imminent collapse of the economic situation in Gaza Strip due to the continuous closure of al-Mintar crossing points, east of the strip, pointing out that construction projects executed by UNRWA in Gaza Strip estimated by $93 m have stopped completely.

Turkey Seeks to Buy Gas from Shakh Deniz Field

The Turkish minister of Energy, Hilmi Guler, said that his country seeks to buy some of the production of Shakh Deniz field in Azerbaijan in the second phase of production estimated by 21 million cubic meters of natural gas.

The Integration of the Satellite TV Channel “Rotana” with the Lebanese Broadcast Corporation “LBC”

The Saudi businessman, Prince al Waleed Bin Talal who owns the satellite “Rotana Network”, said that “Rotana” will integrate with the “Lebanese Broadcast Corporation (LBC)”. It is worth mentioning, that al Waleed has bought a share of 49% of the satellite channel affiliated by the Lebanese Broadcast Corporation in return for $98 m in 2003.

Bahrain Airport is an International Center for “DHL”

Due to the international reputation which Bahrain international airport enjoys, amid high efficiency in offering services and facilitations that match the highest international criteria available in the international airport, the higher administration of the international “DHL” company decided to move two international centers which are considered among its biggest main centers for aviation services in the world to Bahrain.
According to this integration, Bahrain will become a main center for the company of aviation services in the Middle East, east of Africa and Eastern Europe.

“Iran Khodro” Company and the Chinese “Gray” Agree on Producing a Joint Car

The Executive Director of the Industrial “Iran Khodro” complex, Manoucher Manteqi, and the Executive Director of the Chinese “Chery” company, “Yen Tong Yu”, have signed a document of cooperation for producing a cheap joint car. The value of the agreement is estimated by $200 m and the final capacity for annual production of the car is estimated by 200.000 cars of “Chery”, model S-21 (also called QQ6).

Companies Indexes

– The Executive Director of the “Pak-Oman Investment Company” said that the company will establish a company for the management and developing real estates for addressing the needs of companies and foreign investors sector in the Gulf.
– The prices of the share of “BNP-Paribas”, the biggest French company registered at the stock market, have declined for the second consecutive day on Friday by more than 3%.
– “Central Bank of Norway” said on Friday that pumping 45 billion Kroner “$7.8 bn” in the banking sector has offered “enough flow”.

Exhibitions

– Bahrain is due to host exhibition of the “Accounting and Auditing Organization for Islamic Institutions,” which is being held on the sideline of the activities of the meeting of Sheikh Dr. Abdul Latif al Mahmud for Islamic contributions during next September under the auspices of Sheikh Khalid Bin Ahmad al Khalifa, Minister of the Royal Bureau.
– Al Manama is due to host on the 19th of August the movable exhibition “The Management of Projects and Dangers” at Intercontinental Regency – Bahrain.
– “Index for Holding Conferences and Exhibitions”, member of the Emirati holding “Index” company will hold a real estate international exhibition for Asian countries in the South Korean capital Seoul between 25-27 of next June.

Bids & Contracts

– The E-Economic newspaper said yesterday that “Istithmar” located in Dubai intends to buy “Barneys New York” company affiliated by “Jones Apparel Group” in return for $942.3m.
– The commission of financial monetary in Sweden said that it studies if the statement of Dubai stock market issued on the 9th of August, which says that it wants to buy shares in OMX company, might represent an offer by the whole company.

Small Indexes

– The index of Kuwait stock market has dropped at last week dealings by 23.7 points, closing due to its drop by 12477.6 points.
– Gold future contracts for next October at Dubai stock market for gold and goods have ended yesterday session achieving a profit of $2.5, whereas silver future contracts remained unchanged compared to prices recorded at its previous closure.
– The international center for cereals said that Algeria will become the fifth biggest importer of wheat in the world, adding that the volume of its imports of wheat will exceed $1 bn annually.
– The volume of the Tunisian exports to the eastern part of the Arab world have increased from 208 million dinars in 2005 to 214.5 million dinars in 2006, and to 126.6 million dinars during the first six months of 2007, with an increase of 24.2% compared to the same period of last year.
– The reserve of half currencies at the Jordanian Central Bank has witnessed an increase during the first half of this year by 2.8%, reaching the limit of $6.27 bn compared to the same period of last year.