The Surge of Prices Threatens the Euro

The Surge of Prices Threatens the Euro

The European Agency for Economic and Statistical Studies “ Euro-Stat” has said early this week that March witnessed an inflation estimated at 3,6% , as a result of the continuous surge of food and energy prices during the mentioned month.
For his part, The spokesman of the European Commissioner for Economic Affairs has said that the greatest fear is to see this surge of prices including many other materials and goods which would have negative consequences on the level of incomes, on the one hand, and the average of production , on the other , which would turn the inflation crisis into a real nightmare that unrests the economy and the economists alike within the EURO ZONE, especially when we take into consideration that the average of inflation has doubled compared to what it was before during the same period of last year , reaching 19% . This explains the insistence on the behalf of the European Central bank a few months ago to preserve the rat of the interest as it is i.e., 4% at a time the American Federal Reserve has already decreased the rate of interest many times.

“Alcatel” Builds “W-Max” Network in Libya by a Value Estimated at $ 60 Million

An official at “Alcatel Lucent” company has said that the company will build “W-Max” network with a total investments estimated at 70 million Dinars ($ 59,68 million ) for providing the cities and municipalities with the wireless net work . The official further added that the work will start as soon as possible with the aim of providing services to about 300 000 clients by 2009. It is worth mentioning that the foreign governments and companies have been competing on concluding agreements with Libya since the lifting of embargo against it.

20%, An Expected Increase of Incomes in Egypt

The Egyptian Prime Minister, Dr | Ahmad Nazeef” has said that, in an interview with “ Al-Massa “newspaper, that the government will increase the incomes and salaries of the people working in the public sector by at least 20 % this year , which is more than what the government promised before .

The first International Exhibition of Gold in the Iranian City of Mashhad

The Iranian city of “Mashhad” witnessed last Wednesday the opening of the first International Exhibition of Gold, precious stones ,and watches. Moreover, the opening of first International Exhibition of Machines and Equipment used in the industry of gold and jewelries coincided with the opening of the exhibition, according to the Iranian News Agency which quoted the General Director of the Exhibition “Mohammed Saidi” . Taking part in the two exhibitions 70 Local and forign companies during which the latest in the field of machines, jewelries, the different kinds of gold, precious stones, and watches were exhibitied.

Iraq Says It Will Cancel the Contracts of the Foreign Companies Unless They are Concluded By June

The Iraqi Minister of Oil has said that cancelling big oil agreements with the biggest oil company is likely unless these agreements have been signed by June . He further added that the Iraqi government is holding talks for concluding 5 short- term agreements for providing services for oil fields, each is estimated at about $ 500 million. He concluded by saying that the aim of these agreements is to increase Iraq’s production of oil by about 25% , adding that every agreement will increase Iraq’s production by about 100000 barrels daily.

50 Million Dirham, The Profits of the Emirati “Al-Mal Capital” in 2007

“ Al-Mal Capital”| company , based in the UEA has published its fiscal results for 2007 as well as the plans of more growth for next year. The company has recorded revenues that exceeded 100 million Dirham by the end of 2007 , adding that its net profits have reached 50 million Dirham , with an increase in terms of revenues of the total capital estimated at 15% during the second year Moreover, the period has witnessed the duplication of the figures of the fiscal report prepared by the group , as the volume of the assets of the clients have jumped reaching 3,2 billion Dirham.

Small Indexes

– The Chinese National Oil Company has said that it s planning to increase its production of natural gas in “ Shijiang” oil filed into 5 billion cubic meters annually by 2010.
– The establishment of a new company by the name “ Sama” has been announced in the Saudi capital “ Al-Riyadh” for exchanging information related to the financial sector in the GCC countries.

Companies Indexes

– Future dealings of the American crude oil have continued their losses , dropping by more than $ 4 and influenced by the recovery of the dollar after it touched a low hit record opposite to the Euro this week.
– Figures of the volume of the daily dealings worldwide with regard to currencies have reached $ 3,4 Trillion , which makes it the most important trades internationally speaking, and the most attractive for small and big investors alike.

Exhibitions

– The Exhibition and Conference of “Africa Telecom” is due to be held in Cairo between 11- 15 of next May with the participation of Chairmen of 30 International companies. The conference will cover issues on the latest developments on the African arena in the field of telecommunications and especially with regard to the service of development , the technological infra- structure, applications of the mobile phones , high –speed internet, far–distant learning , and the E-government.
– Uzbekistan’s 13th International Exhibition started yesterday at the Centre of the International Exhibitions in the capital “Tashkand” with the participation of 130 medicine companies from 20 countries.