The Other Side of the American Economy

The Other Side of the American Economy

What does a sum of $ one billion a year mean? This sum of money is the costs of the war on Iraq for the American economy which its volume is estimated at about $ 4 trillion. It may not mean a lot for the time being, but it is threatening of problems on the long term.
Money did not cause any problem five years ago , when the American president George Bush led the war on Iraq, but after spending about $ 500 billion on this war, experts express worry of the impact of that on the biggest economy in the world which is facing a real crisis.
Moreover, economist say that the largest part of the problem lies in the fact that each month spent in Iraq adds $10 billion to the American debt which exceeds currently $9 trillions , in addition to the fact that the increase of loans asked by the American government might increase the interest rates, and after five years this war might achieve some economic benefits for some sectors working in the military industry or it might enrich contractors who are working in Baghdad, but the American tax-payer has not only paid the sum of $50 billion as it was estimated before, rather about $ 500 billion, and he is still expecting to pay hundreds of billion of dollars more.

The Islamic Bank Establishes a Fund for Development

The Islamic Fund for Development has announced that it established a fund for solidarity with a capital estimated at $10 billion with the aim of contributing in combating poverty in the Member countries of the Islamic Conference Organization. The fund will implement two programs according to the five-year strategy following the conclusion of the Islamic summit held in Dakar. Concentration will be centered on realizing the developmental goals of the Millennium set by the United Nations to combat poverty and addressing issues of development in the poorest countries within the Islamic Conference Organization, most of which are located south of the African desert, in addition to combating poverty in other countries, most of which are located south of the African desert, in addition to combating poverty in other countries.

The International Monetary Fund Warns Jordan against More Financial Weakness

Officials and politicians have said that the International Monetary Fund has warned Jordan That it might face an increasing financial weakness unless it stopped the increasing general expenditure, which some who criticizes it says that political and not economic reasons stand behind it. They further added that the Fund warned the heavily-debt kingdom that it must adopt" more firm policies with regard to the overall economy" in order to stop inflation and to put an end to the general expenditure which is threatening of stopping the cycle of a strong economy.

The Recommendations of the Conference of The Arab Parliamentarian Union

The Arab Parliamentarian Union has called at the concluding of its 50th summit held in Arbeel in Iraq to get benefit of the experience of the GCC countries with regard to making the suitable environment of economic development available through exchanging expertise, laws, legislations, and rules. Moreover, the summit underlined the general framework of the recommendations issued by the Parliamentarian summit held in 2007 in Kuwait under the title: "The Arab Development amid Globalization" and activating the Arab initiatives and the signed agreements especially with regard to the joint Arab market.

Small Indexes

– Prices of gold have risen yesterday in the immediate dealings to an unprecedented level, exceeding $1000 per ounce in Europe, along with the decline of dollar and the increase of oil prices.
– The Moroccan company affiliated by the French "Lafarge" company specialized in construction materials said that its revenues have increased by 16,7% compared to the same period of 2007, which reached $583 million.
Companies Indexes
– The Syrian Commission for Stock Market has given its initial approval on the establishment of the joint-stock "Sherko" company for Investments and Financial Mediation with a total capital estimated at 270 million Syrian pounds.
– Emirate Airlines Company has announced that it intends to provide 7 flights a week from Dubai to the Libyan capital Tripoli as per 30 of March within the framework of strengthening the company’s services in Libya.
Exhibitions & Conferences
– Abu Dhabi Chamber of Trade and Commerce is due to host the 3rd Gulf Conference of the 6th Version of the Internet Protocol on the 18th of this month.
– Kuwait is due to host the first meeting of the legislations and laws of the E- dealings under the title: "Enabling The Laws, Legislations of the E- Dealings". The meeting will be organized by the Gulf Meeting for E-Trade on the 28th of next April.