The Iraqi Refugees and the Limits of the Crisis

The Higher Commission for Refugees in Geneva estimates the number of Iraqi refugees in Syria by more than 1 million, 700.000 others in Jordan and 80.000 in Egypt, whereas 40.000 of them live in Lebanon. The US, on the other hand, received about 600.000 refugees only since its occupation of Iraq.
This tragedy seems to be very big one, taking into consideration that 2000 Iraqis flee their country daily, and become new refugees. The limits of the crisis is not restricted to the refugees themselves only, rather to the countries which host them due to the pressure of those refugees on the economic, educational, and healthcare resources of the hosting countries .
Syrian estimates the cost of hosting the Iraqis by about 1 billion US$ annually, and Jordan says that inflation, unemployment, and the increase of goods prices have began to affect economy very badly, but until now no concrete international steps have been taken for helping these two states expect holding some conferences for raising money, like charters, whereas the idea that is being ignored is that he who is responsible for the occupation must shoulder its results and pay the prices and not the countries which refused war from the very beginning.

Decline in the Percentage of Poverty in Tunisia by 3.8%

Poverty percentage in Tunisia witnessed decline by 3.8% compared to 4.2% in 2000, according to the national survey on expenditure, consuming, and standards of living of the family for 2005.
The results of the survey were presented last Tuesday by Mr. Mohamed Nouri Jouini, Minister of Development and International Cooperation.

A 25% Percentage of Unemployment in the Arab World, 70 million Job Opportunities Required

The Organization of Arab Labor announced that the working Arab man power during the current decade is more than 3.5 million inhabitants annually, whereas unemployment percentage among the youth is considered the highest in the world with more than 25%. The organization said in a report that the Arab world needs to create new jobs for those who enter the labor market with more than 70 million job opportunities between 2000-2020.

Dubai in a Time Race for Implementing the Law of Insuring Real Estate Development

The Dubai Islamic Bank launched what is called “The Account of Islamic Insurance”, which is the first production of its kind in the region in the sector of real estates. The bank said that this production aims at helping the workers in the field of real estate development for the management of their projects, protecting the investors, and enhancing trust in this pivotal sector, according to a statement published by Al-Arbiya Channel on the internet.

An International Report Expects a Decline in the Percentage of Inflation in the Gulf

A new report issued by “ESCWA” (United Nations Economic and Social Commission for Western Asia) excepted a drop in the percentage of inflation in the Saudi Arabia by 1% at the end of this year, and in the countries of the G.C.C by 2.7% at the end of this year compared to inflation percentages recorded last year as a result of the increase of prices of goods as well as housing prices and their renting.

The Director Agricultural Losses due to the Israeli Incursion Exceeds 750.000 Dollars

The Direct losses of the agricultural sector in Gaza Strip due to the Israeli incursion reached more than 750.000 US$, according to estimates published by Al-Quds newspaper issued in Palestine.

28 million dollars from the U.A.E for Buying of the Egyptian National Bank for Development

The Egyptian Stock Market announced that it received an offered by a coalition of the Abu Dhabi Islamic Bank and the Emirates International Investment Company to buy a quantity of shares for sell owned by “Al-Watany” bank for Development reaching 51.29% of the total quantity of the shares.

A New Oil Discovery in Syria

The American Company “Gulfsands Petroleum" announced that it explored an oil field north east of Syria. It estimated the total reserves by 100 million barrels. It is worth mentioning that the two American companies “Gulfsands” and “Emerald Energy”. have signed an agreement with the Syrian Government for the exploration of oil in a total square of 11.000 square meters.

The Iraqi al Sulaimaniya Exhibition Signs a Cooperation Agreement with the Iranian “Idro”

A cooperation agreement has been signed between the executive committee of the international Al Sulaimaniya exhibition 2007 in Iraq and the international Iranian trade company “Idro” for International Exhibitions, specialized in organizing exhibitions in and outside Iran, with the aim of allowing the Iranian private sector, and especially the companies interested in entering in the field of investment and participation in the reconstruction of Iraq, to establish its private pavilion and taking the chance to exhibit its products and the services it can offer.

Turkey Gets 15% of Gas Flows from “Caspian Sea” to Italy

Turkish Minister of Energy “Hilmi Guler” said that his country will get 15% of natural gas via a pipeline from Shah Denees field in Azerbaijan to Italy which equals 1.74 billion cubic meters annually.

Turkey is no Longer in Need of Loans of the International Monetary Fund

Al-Jazeera Channel’s web site quoted the Governor of the Turkish Central Bank “Durmus Yilmaz”, as saying that Turkey is no longer in need of the loans of the international monetary fund which helped it to overcome its financial crisis in 2001.

Malaysia Expresses its Readiness for Touristic Investment in Iran

The General Director of the Iran Tourism Development Company (ITDC), Mehdi Jahangiri, said, on the sideline of a joint meeting for tourism and development between Iran and Kuala Lumpur, attended in addition to Iran Ambassador to Malaysia, more than 50 Malaysian investment companies, that Malaysia expressed its wish to invest in tourism sector in Iran. According to Irna news agency, the two sides expressed their readiness for cooperation to develop tourism between the two countries.

Mauritania and Spain sign an Agreement on Workers Immigration

Mauritania and Spain have signed an agreement on workers immigration, according to news by local newspapers. The agreement calls for taking “systematic and consistent measures” for organizing the flows of immigrants between the two countries in accordance with the agreement signed in 2003 on immigration and movement of persons.

The Main Saudi Cities Embrace Real Estate Developments by 80 billion US$

Al-Sharaq al-Awsat newspaper estimated the value of the new declared real estate projects in the Saudi Arabia by 80 billion US$, asserting that the real estate market has taken an important and historical turning point with regard to volume of investments in the real estate sector, amid balance in the prices of lands and buildings compared to prices of real estates in the different world cities.

Companies Indexes

- “On-Line Distribution” company announced that it entered a partnership with “A.D.C Croon”, specialized in the field of solutions for infrastructures of telecommunications networks, for providing technologies of rapid telecommunications for the working companies in the Middle East.
- The South Korean, “Hyundai Motor” recorded an increase by 52% in its seasonal profits last Thursday as a result of increase of the local sellings, decline of costs, and profits of affiliated products by the shares of “Kia Company” affiliated by “Hyundai Motor”.
- The Swedish “Scania Group” for Trucks and Vans announced that it achieved an increase of profits in addition to an increase in the total volume of business in the first half of this year by 14% compared to the same period of last year achieving 5.96 billion US$.

Small Indexes

- The net profits of the British-Dutch Shell Company increased by 18% in the second quarter of this year as a result of selling some of its assets and the increase of products of refinery. The profits of the company reached 8.67 billion US$ after they were 7.32 billion US$.
- The Japanese “Toshiba” announced that the profits of operation hit a new record by 21.18 billion yen “180” million dollar, i.e. with a percentage of 16% compared to the same period of last year.
- Director of the Commission of Suez Canal, General Ahmed Ali Fadel, said that the revenues of the canal were the highest in the fiscal year of 2006-2007 reaching 4.168 billion US$ with an increase of 17% of the last fiscal year.

Exhibitions & Conferences

- The Exhibition of the Syrian Products is due to be opened tomorrow in Jordan on the Fair Grounds of Amman International Fair with the participation of 75 Syrian companies exhibiting different products.
- The activities of the Third meeting for Financing and Investment, held by the Arab Organization for Administrative Development, is due to be held between 20-23 in Alexandria under the title: “Springboards of External Financing and Direct Arab Financing”.

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.