The World, Before It Is Too Late

Stockholm Environment Institute asserted that the production of developed countries of food will decrease by half in the next 20 years, in case rich countries did not decrease their consuming percentage.
The Director of the Institute, Johan Rockström warned that means of living for more than 3 billion persons are in jeopardy because of the wealth of only small group of countries.
Johan Rockström pointed out that: “As consuming by rich countries increases, their exploitation of World Natural Resources also increases. Thus, Rockström added that “The percentage of Carbon emission increases, and this, of course, speeds up the process of making more areas desert like all over the world”.
He went on to say that: “We reached the end of the road for sustainable development which is known for us today, and science will not be able to handle it”.
On the other side, climate expert James Hansen points out that the issue of forests debility to the north as well as the melting of mountains’ snow is not only the result of high temperatures, rather these are factors that speeds up this process.
He added that that forests are being debilited to the north which speeds up climate change. Therefore, experts think that the world has ten years only to decrease the percentage of carbon emission before it is too late.

No for Privatization in Egypt

In continuation of fierce disputes which Egypt witnessed last month because of the issue of selling “Omar Afandi” Company, the oldest stores in Egypt, a national initiative was launched lately in Egypt to oppose the privatization of the states companies and resources under the title: “No for Selling Egypt”.
A birth certificate of this initiative was issued at a conference held by the committee of freedoms at the Egyptian Journalists Syndicate and organized by a Group of National Powers with their different trends.

New Decisions to support Spinning and Textile Industry in Egypt

Egyptian Minister of Trade and Industry, Rachid Mohamed Rachid, said that new decisions and measures will be taken in few days to increase the competitive ability of spinning and textile industry, and to stop smuggling.
According to the Emirati Al-Bayan newspaper, the Egyptian minister added that these measures include adjusting the system of temporary allowance to decrease the permitted period for re-exporting products which use exported spinning and textile.

Italy and Tunisia sign Agreements for Electrical

Italy and Tunisia have signed two cooperation agreements, according to Tunisian news agency. The first agreement concerns laying a line for electrical connection between “Capbone” in Tunisia and “Sicily” along 170 k.m with a capacity of 1000 megawatt.
The second project concerns thermal energy station in Tunisia to be built in “Al-Hawariya” area with a capacity of 1200 megawatt.

“Dar Al-Istitmar” Increases its Share in “Boubyan” Bank

The Kuwaiti stock market said yesterday that the Islamic Kuwaiti “Dar Al-Istitmar” company and other affiliated companies increased its share in the Islamic “Boubyan” bank by 10.2%.
“Dar Al-Istitmar” said that it has been granted the approval of the central bank to increase its share in “Boubyan” bank by 20%.

Bank Muscat International Opens its First Branch in Qatar

Bank Muscat International located in Bahrain, announced yesterday that it has been granted a license to establish its first branch abroad and to do business at Qatar Financial Center.
The banking license issued by the commission of organizing Qatar Financial Center allows the bank to start legal banking activities including offering insurance facilitates, the acceptance of deposits, and investments dealings.

“Nour” for Investment Participates in Expanding Aliya International Airport

The Kuwaiti “Nour” company said that it intends to participate in establishing the international airport company which will execute the project of expanding the international “Aliya” airport and rehabilitating and operating it in Jordan. The company mentioned, according to Arab news network Al-Moheet that working in the project will start at the end of this year, and to be finished in 2010.

Syria Discusses with “Shoua’a Capital” Touristic Investment

Syrian minister of Tourism, Sadallah Agha al-Qala, discussed with the delegation of the international “Shoua’a Capital” company the possibility of executing touristic investment projects.
A statement issued by ministry said that Syria is looking for attracting 7.5 million tourists by 2010, adding that the number of tourists reached last year 3.6 million tourists.

Iraq Increases Prices of Gasoline

The Iraqi government has increased gasoline prices by 15%, the second increase of its kind for this year, fulfilling its promises to the International Monetary Fund.
Director of the Company of the Iraqi Oil Products Distribution, Karim Hattab said that gasoline prices have been increased about 36 American cents per liter.
Another official at the ministry said that the government has paid 6 billion US$ in 2005, and 2.5 billion US$ to keep prices at a law level.

A-6-billion US$ Loan by The International Bank to Turkey

Turkish minister of Economy, Ali Babacan, said that his country is holding discussions with the international bank on a strategic program that includes granting Turkey a-6 billion US$ loan, to support the competitive ability and to increase job opportunities and development.
Ali Babacan pointed out that the program will be implemented between 2008-2011, adding that it will replace a similar program with a value of 5.481 billion US$ that covers the period between 2004-2007.

Turkey Receives the First Quantity of the Azerbaijani “Shahdenees” Gas

An official at the Turkish “Potach” group for pipelines said that Turkey received on Monday the first cargo of the Azerbaijani natural gas via “Shahdenees” pipeline which was established with 4 billion US$ investments.

Many Partnership Projects between Iran and Venezuela

The number of documents and memorandum of understandings of joint cooperation between Venezuela and Iran have reached yesterday 180 documents. According to Arna agency these documents include in addition to industry and mining sectors, the fields of technical and professional training, establishing a joint trade company, and another company for houses building, as well as establishing a company for investments in building a factory for the treatment of food stuff and dairy products.

Pakistan Imports 100 Megawatts of Electricity from Iran

Spokesman of the Pakistani Economic and Planning Committee, Asef Sheikh, said on Sunday that the committee approved on importing 100 megawatt of electricity from Iran with a total cost of 77 billion rupee.

Increase of Possession and Integration Deals in Asia

An economic report mentioned that deals of possessing and integration in Asia have increased by 56.5% during the first half of this year reaching 199.4 billion US$ compared to the same period of last year. Analysts said that the activity of Arab investors, oil countries, and European companies and specially in the market of telecommunications in the region, has played an important role in the activity of possessing and integration deals.

Companies’ Indexes

 The Emirati “Abar” company for Oil Investments said that it bought a share of 15% in marine oil and gas concession in Vietnam.
 The Egyptian “Orascom Telecom” company said that it has been granted 793 million US$ from “Hutchison Telecom” company which owns a share of 19.3%.
 The General Director of “Abicorb” said that the company has contributed during the second quarter of this year in financing a number of Arab oil and petrochemical projects with a value of 173 million US$.
 The value of the Iranian “The National Company for Petrochemical Industries” in “Pars” area has reached 470 million US$.
 The Joint Finish-German (Nokia-Siemens) company for the equipment of telecommunications networks announced that it intends to invest 100 million US$ in India in the coming three years.

Small Indexes

 The share of industry sector in Iran has reached 20% of the G.D.P in 2006, securing 274.000 job opportunities.
 The Turkish G.D.P has increased by 6.7% in the first quarter of this year compared to the same period of last year.
 Turkey’s export of gold have increased 300% last June thanks to turn out for gold purchasing.

Bids & Contracts

 “Wesfarmers Group” group, the owner of the biggest series of electronic appliances stores in Australia has started to possess “Colles Group” group the second biggest retaile company in the world.
 The National Emirat and Dubai Banks said that they have agreed on integration in a deal that would lead to establishing the biggest Arab bank in the Gulf in terms of the value of assets.

Conferences & Exhibitions

 The exhibition of “Syrmotorshower” for cars has been opened at the Fair Grounds in Damascus shedding light for one week on features of cars markets in the Middle East, in addition to exhibiting the latest technologies in the cars industry in the world with the participation of 199 companies from 22 Arab and foreign countries.
 The first meeting of Arab investors will be held in Damascus between 20-21 of next August with the support of the Syrian Investment Commission under the title: “Openness, and Investment Visions in Syria” at Four Seasons Hotel in Damascus.

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.