Washington and Iraq’s Oil

The Iraqi government announced that it approved unanimously oil and gas draft law before submitting it to the parliament which will have the final word in adopting it.
Washington pushed hard for the adaptation of this draft law. For its part, the Iraqi government says that this law will guarantee a fair distribution of wealth among all geographical areas, and the American administration says that this law will help integrating the insurgents in the political process and stop violence. But the thing which the two sides don’t say frankly is the privileges which the law grants the foreign companies working in Iraq, and the rights it leaves for workers in the country which owns the third biggest oil reserve in the world estimated by 115 billion barrels.

The Conclusion of the Meeting of the Arab Ministers of Telecommunications in Damascus

The Conference of The Arab Ministers of Telecommunications, which concluded its activities yesterday in Damascus, has issued a binding recommendation about increasing the prices of the international calls of mobile phones between the Arab countries. Another recommendation was issued about unifying “The Accounting” prices between them.
Dr. Amro Salem, Syrian minister of Telecommunications said that these recommendations will become reality for mobile phones companies in all Arab countries, pointing out that there will be slices for decreasing the international prices that will suit the income of every citizen.

The Syrian Areeba Company Integrates With the International “MTN” Company

“Syria Areeba”, one of the two operating companies of mobile phone networks in Syria, announced that it integrated with the international “MTN” company. The new name of the company was changed into “MTN Syria”. The General Director of “MTN Syria” Ismail Jarodi said that the integration represents the birth of a new and promising entity in the Middle East and Africa.

117.5%, the Percentage of Executing of Agrarian Production Plan in Iran

The volume of the production of Agrarian products in Iran has reached 100 million tons in the last Iranian year “which has ended on 20th of March” realizing a-15-million tons of the production plan. Iranian minister of Agriculture, Mohammad Reza Eskandari, said yesterday that this increase shows that the agrarian sector is a head of the previously set up plan.

Iran is one of the Advanced Countries in the Field of Statistics’ Technology

Chairman of the Statistics Center in South Korea, Daiyeh Yokem said yesterday, during his visit to Iran that Iran is one of the advanced countries in the field of statistics technology. Yokem added, during the signing the memorandum of understanding of bilateral cooperation in the field of joint statistical activities, that Iran and South Korea have similarities in many of statistics field, and that they occupy very advanced positions world wide in this domain.

Freezing of the Money of a Turkish Company in Iraq

An official at the “Iraqi Seaports” company said that an Iraqi court decided to freeze movable and non-movable property of the Turkish “Tousleh” company because it failed to meet the terms of a contract it concluded with Iraq in 2002.

“The Iraqi-Jordanian” Company Refrains from Selling its Shares

“The Iraqi-Jordanian” company for land transportation refrained from selling its shares in the United Company of “K.G.L” which owns about 29.2% of the companies share. It is worth mentioning that the Kuwaiti company have possessed 43% of the company’s capital which is 6.5 million dinars and these companies are: The Middle East Company for Financial Mediation, Al-Awsat al-Alwla Company, al-Kuwait Wa al-Sharq al-Awsat Company for Financial Investment and finally K.G.L Company.

“The International Dubai” Registers Bonds and Deeds with a Value of 3.2 billion US$

“The International Dubai” company which operates Dubai Seaports abroad ended yesterday registering bonds at Dubai stock market with a total value of 1.7 billion US$ in addition to deeds with a value of 1.5 billion US$.

Israel Allows Importing 10.000 tons of Wheat to Gaza Strip

The General Director of the Security of the Palestinian crossing points, Salim Abu Safieh revealed that the Israeli side has taken lately unilateral steps for allowing importing a limited quantity of goods and basic food stuff to Gaza Strip via a neighboring post of al Mintar crossing point.

New Oil Field in Suez Gulf

The General Egyptian Commission of Petroleum announced the exploration of new oil field with a capacity of 1900 barrels per day in the south of “Abu Zanemeh” area at Suez Gulf. The Arab news network “Moheet” mentioned that more opportunities are being given in the area of the concessions of the national company of petroleum South of the Area through trailing more fields.

Decrees of the Total Value of the Imported Oil in Morocco

The Bureau of Monetary Supervision in Morocco said yesterday that the total value of oil which Morocco imported has reached 1.04 billion US$ during the first five months of 2007, which is less by 9.8% of the same period of last year.

The French “Société Générale” bank Launches Islamic Products

The French “Société Générale” bank said that it intends to launch group of products which go in line with the Islamic Sharia’a making itself the most modern institutions of financial services which look for more benefit of these growing markets.

“NTT” Looks For Partners in the Middle East and Russia

The new chairman of the Japanese “Nippon Telegraph and Telephone (N.T.T)”, Satoshi Mioyra said that the company looks for holding discussions with local companies in the Middle East and Russia for offering services and networks for the Japanese companies which expand abroad.

Companies’ Indexes

- The Moroccan government has gained profits of 420 million Euro through selling 4% of its shares in the Moroccan telecommunications company.
- The Syrian Ministry of Telecommunications has signed with its Egyptian counterpart a memorandum understanding in the field of software programs.
- The Finnish-German “Nokia-Siemens” company announced that it intends to invest 100 million US$ in India.

Small Indexes

- Prices of Algerian oil “Sahara Blend” came close yesterday to 73 US$ per barrel which is one of the highest levels it reached since the beginning of this year.
- The volume of the exports of the Jordanian medicine has reached 300 million US$ in 2006, which equals 7.3% of the total value of Jordan’s exports.
- According to “Ernest & Young” establishment, Poland came second worldwide after China in terms of attracting direct foreign investments.

Bids & Contracts

- The Qatari “Ras-Gas” company announced that it intends to provide the Indian “Petronet” company with an additional quantity of liquid natural gas of 1.25 million tons.
- The Brazilian company “Companhia Vale do Rio Doce” (C.V.R.D) for mining has been granted the exploration right in Mozambique by a contract of 1.5 billion US$.

Exhibitions & Conferences

- The Egyptian Trade Exhibition was opened yesterday in Gabon’s capital Libreville with the participation of 40 Egyptian companies.

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