Britain’s Workers Boycott the Israeli Products

As Arabs have forgotten the motto of boycotting the Israeli goods, Barry Camfield, Assistant General Secretary of the Syndicate of the Union of Transportation Workers in Britain, said that the Syndicate has decided to boycott the Zionist products in protest of the suffering of the Palestinian people.
Camfield, added that: “By supporting the boycott of the Zionist products and goods, we are sending a message to the Zionist entity”.
He pointed out that “boycotting played a decisive role in South Africa for liberating the country from Apartheid regime, and we are helping the Palestinian people to get rid of their suffering on the hands of the Zionist military machine.
For her part, the spokesman of the Syndicate Claire Insley, said that about 75% of the 350 envoys voted in favor of the resolution. But the question that remains is: Where are the bureaus of boycotting the Israeli goods in the Arab countries despite the daily reports which indicate the entrance of these goods into the Arab markets either in a public or unpublic way.

Rates of World Trade Fraud on Rise

World statistics pointed out that the volume of the international trade fraud represents 5-10% of the total volume of World Trade Exchange, that is to say by 780 billion US$ annually. On the other hand the volume of trade fraud in the Arab countries reached 50 billion US$.

Switzerland Approved Granting China the Status of Market Economy State

The Chinese Ministry of Trade said that Switzerland approved on granting China the status of market economy state. It is worth mentioning that Switzerland is the third European country which grants China this status.

Increase of World Demand on Oil

The International Energy Agency said that world demand on oil will increase more quickly than it is expected till 2012 whereas supply will decrease resulting in a market of a less supply than demand.

Licenses for 3 Dry Seaports in Syria

The General Directorate of The Syrian Free Zones has granted the preliminary licenses for establishing three dry seaports in the branches of the free zone in Adra’a and Halab al Yarubia, and with a total space area of about 60.000 square meters for each.

The Capitals Coming into Lebanon Drop by 7.23%

The flow of foreign capitals coming into Lebanon has dropped despite the Arab and international resolutions, as well as Paris-3 financial aids which only 177 million US$ have reached till now.

178 Factories with One Million Egyptian Pounds in Upper Egypt

An economic reports issued by the General Commission of Industrial Development in Egypt, published lately in the Emirati Al-Bayan newspaper, said that the number of factories which have been established in the governorates of Upper Egypt, has reached 178-factories till the end of last May with a total investments of 1.101 billion Egyptian pounds, and creating job opportunities for more than 1791 persons.

1865 k.g of Goldsmithery in Jordan

The quantity of local Goldsmithery which have been Hallmarked by the Directorate of Jewelery in Jordan has reached 1865.4 k.g during the first half of this year. The Jordanian news agency “Petra” said that the quantity of the imported Goldsmithery which have been Hallmarked reached 726.7 k.g in addition to 64.4 k.g of golden ingots.

Tunisia Grants the Canadian “Rigo Oil” a Concession for Oil Exploration

Al-Sahafe newspaper mentioned that the Tunisian government has granted the Canadian “Rigo Oil” concessions for oil exploration in “Tuser and Keeply” basins in the Southeastern area of the country.

Syria Cultivates 12.000 hectares in Sudan

The Syrian Ministry of Agriculture intends to hold a project in Sudan for cultivating 12.000 hectares irrigated from the Nile. Al-Thawara newspaper quoted the Syrian Minister of Agriculture Nadir al-Buni as saying that this project will be executed by the General Company for Water Projects. Al-Buni pointed out to the intention of the two governments to establish a Syrian-Sudanese company for executing a number of projects.

Algerian Banks call for Canceling Article 104 of loaning and Monetary Law

The General Commissioner of Banks and Financial Institutions Society in Algeria called upon the authorities to cancel article number 104 of loaning the monetary law which prohibits the Algerian banks from establishing and financing branches that participate in other sectors.

UNRWA Announces Halting its Projects for Re-Construction in Gaza

UNRWA announced that it halted projects of construction and reconstruction in Gaza because of the shortage of the basic construction materials. It is worth mentioning that UNRWA’s construction projects offer job opportunities for more than 121.000 persons.

Increase of the Volume of Trade Exchange between Tehran and Kabul

The Afghani ambassador to Tehran Mohammad Yahia Maroufi told the Iranian news agency yesterday during the meeting “The Study of Joint Investment Opportunities between the Iranian and Foreign Companies in Construction Projects”, organized by the Union of the Iranian Construction Companies, that the volume of trade exchange between Iran and Afghanistan has increased from 300 million US$ to 1.5 billion US$ during the last three years.

Profits of the Kuwaiti Commercial Bank Rise by 21%

The Kuwaiti Commercial Bank, the fourth biggest bank in Kuwait in terms of market value, said that its net profits have increased by 21% in the second quarter of this year.

Big Companies Compete on Abu Dhabi’s Oil

Sources interested in oil industry have revealed that Abu Dhabi invited four international oil companies to offer their bids in the modified competition with regard to one of the biggest projects available this year for the competing companies on opportunities for entering the limited energy sector in the Middle East.

Increase of the Turkish Industrial Production in May by 5.2%

The Turkish Statistical Institute said that the industrial production of the country has increased by 5.2% annually in last May with more than two times of the increase expected by analysts.

Information of Dealings at Palestine Stock Market to be transmitted by SMS

The Executive Chairman of Palestine Stock Market, Dr. Hassan Abu Lubda has signed agreements for transmitting information on dealings at the stock market through SMS via mobile phones with a group of technological companies and the working Palestinian media institutions.

Companies Indexes

- The founding stone has been laid in Petersburg suburbs for establishing a new car factory “Nissan”.
- The Saudi Commission of Stock Market announced that it approved on issuing bonds for the Saudi company for basic industries “Sabc” with a total value of 5 billion riyals (1.3 billion US$).
- The Qatari Public Bank said that its net profits during the first half of this year have increased by 9.1% reaching 1.2505 billion Qatari riyals “1 billion US$”.
- The profits of the Kuwaiti National Bank, the biggest bank in Kuwait in terms of market value, reached 278.7 million US$ in the second quarter of this year with an increase of 10.3% compared to last year.

Companies Indexes

- Algeria production of fish in the last year has reached about 157.000 tons compared to 150.000 tons in 2005, raising the average of the national consuming of fish by 5.25 k.g. for each person annually.
- The Turkish Minister of Energy and Natural Resource, Hilmi Guler, said yesterday that Turkey imports daily 20 million cubic meters of Iranian gas through gas pipeline between the two countries.
- Chinese news agency Shinua, said that China donated 1.5 million US$ as goods and cash money to the Afghani authorities for helping refugees who are suffering from poverty in Afghanistan.

Bids & Contracts

- Boeing Company asserted on Monday that the Qatari airlines introduced a demand to buy its new model 787 Dream Liner without mentioning any information on the volume of the demand.
- Algeria granted the Italian “Anasaldo” company a deal for establishing an electricity generating station at “Massela” area with a capacity of 500 megawatt.
- Qatar and the Turkish “Tekevene” company have signed an agreement with a total value of 2.181 billion riyals “599.13” million US$ for executing the project of the North road with its second and third phases.
- The Egyptian government announced that it approved on selling 80% of Cairo Bank’s shares, the third governmental bank in the country, to a private investor within its plan for reforming the banking sector.
- The Famous German Engineering Office, “Helde Lion & Conrad Fulhagi & Siegfred Ferneck” has won the competition for designing the new location of the Libyan government intended to be built in the capital Tripoli on an area space of 230 hectares.
- “Starwood” Group for Hotels and Resorts and the French “Accor” group are discussing with the authorities in Dubai establishing a complex of hotels and offices in the Emirate with a total value of 2 billion Sterling Pound (4.02 billion US$).

Exhibitions & Conferences

- Chambers of Trade and Commerce in the Governorates of Hebron, Ramallah, Al-Bera, and Nablus will organize the exhibition of “The Palestinian Industries, 2007” in Al-Bera city between 20-22 of August.
- The First Session of World Forum on Immigration and Development is due to be held in Brussels, Belgium between 10-11 of this month.
- Indonesia International Fair for Cooperative Society Trade is due to be opened in “Bali” city. The – Six – day fair will be attended by members of the international union for cooperative societies with the participation of 20 companies and Iranian cooperative societies.
- The Tenth Arab-German Economic meeting organized by the Arab-German Chamber of Trade and Commerce and in cooperation with the Union of the German Chamber of Trade and Commerce and the General Union of Chambers of Trade, Industry, and Agriculture in the Arab countries, will be held in Berlin.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on in Arabic and English. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English and French languages.