No Respond, No Answer, and Gaza is in Danger

UNRWA warned yesterday that Gaza Strip could become an area that depends completely on the offered food stuff aids, expecting “dire consequences” in case the embargo of the strip, which Hamas movement controls completely, continued since last June.
The UN’s warnings coincided with the announcement of Palestinian bodies that the number of the Palestinians who lost their jobs in Gaza jumped to 120.000 persons, which will worsen the tragedy of 1.4 million persons who live within a belt that only the humanitarian aids caravans enter.
Despite the announcement made by Filippo Grandi, Deputy Chairman of the UNRWA that Gaza has become an area that depends 100% on food stuff aids during the last few months or weeks due to the embargo, he called upon Israel and the Palestinian authority and other concerned parties to work quickly for opening the crossing points. Grandi further asserted that there is a possibility that the hard humanitarian circumstances in Gaza will result in more extremism by the hardliners, but it seems almost certain that the calls by Grandi will be in vain.

The World Bank Says: The Developed Countries Must Build a City Every Week for Solving the Problems of Housing

A study made lately by the World Bank on world cities expansion said that a maid the current increase of population around the world, the governments of the developed countries will have to build a new city every week on average for one million person within the coming 40 years.

“Akkar” Company Builds Cordova Hills “Tilal Qurtoba” in Syria

The Syrian cabinet has given its preliminary approval for granting “Akkar” company a license for building the housing suburb “Tilal Qurtoba” at Kafr Houm area in Aleppo. The project aims at building a housing suburb with a total space area of 140 hectares, comprising 784 villas, and with a total investment and construction cost of about $77 m.

The Rise of Bread Prices Worsens the Suffering of the Palestinians

The Rise of Bread Prices in the Palestinian territories by about 65% caused a lot of worry among the Palestinians especially amid the bad economic situations. This comes with an increase of employment by 70%, and a percentage of poverty that exceeded 65%.

The Norwegian DNO Company Says that Its Production Increased in Iraq

Chairman of the Norwegian Oil Company DNO said that the production of the company’s fields north of Iraq will help secure sources of production. Helge Eide , told Reuters that the company imports currently about 6.000 barrels per day from Toke field in the north part of the country, adding that the share of the company’s participation in production which is 55% has increased by 3196 barrels per day in July.

The Contributors of the “Ahli United Bank” Refuse to Sell the Bank to “International Bank of Qatar”

The Kuwaiti “Tamdeen Investment Company”, the second biggest contributor in the “Ahli United Bank” has refused an offer presented by “International Bank of Qatar” to buy the “Ahli United Bank”.

The “Commercial Bank of Kuwait” Buys 70% of the “Al-Watany Bank of Egypt”

The “Commercial Bank of Kuwait” said that it hasn’t taken any decision yet about the some of money to be paid to buy a share in the “Al-Watany Bank of Egyptt”. Abdul-Majeed al-Shatti Chairman of the “Commercial Bank of Kuwait” told Reuters that the bank might offered to pay a price that equals four times the true value of the bank in return for a share of 70%.

$10 bn, the Investments of the Indian “Reliance Industries” in Egypt

The Egyptian government said yesterday that the Indian “Reliance Industries Ltd” intends to invest in refinery, petrochemicals, and plastics sectors in Egypt with a total value of $10 bn.

Morocco Prohibits the Imports of the British Meat

Following the spread of “Mouth and Foot” disease in Britain for the second time, Morocco prohibited exporting all kinds of meat from countries exposed to this disease.
A statement issued by the Moroccan agricultural ministry said that: “For protection the livestock in our country, importing livestock and all related products are prohibited from countries witnessing this disease”.

“Saipa” Company for Cars Industry Seeks to have a Share in Algeria

Deputy Chairman of the Department of Exports at the Iranian “Saipa” company for cars industry, Muhsen Juwan, said in an interview with the Algerian al-Khabar newspaper yesterday that “Saipa”, and according to the agreement signed with its official representative “Saipac” in Algeria, seeks to buy 20.000 cars in Algeria during the coming three years.

A Document for Economic and Trade Cooperation between Iran and North Korea

The Iranian Minister of Trade and his North Korean counterpart have signed last Thursday the document of trade and economic cooperation in the fields of construction, housing, technology, and the best use of energy and abilities between the two countries.

The Turk Cypriots Object on Cyprus’s Oil Plans

The authorities of the Turkish Cypriot’s said that Cyprus’s plans for starting the activities of exploring oil and gas, east of the Mediterranean will cause tensions with Turkey about the ethnic-divided island.

Small Indexes

- Official statements pointed out that unemployment average in Morocco has increased by 9.4% during the second quarter of this year compared to 7.8% of the same period of last year.
- The Algerian Ministry of Agriculture said in a statement issued last Wednesday that Flour prices will not increase despite the rise of cereals prices in world markets.
- The volume of trade exchange between Tunisia and countries of eastern and central Europe reached during the first seven months of this year 1035 million dinars.
- Prices of the Turkish Lira have dropped by 3%, together with a decline of demand on investments facing danger all over the world. The prices dropped by 1.2950 Liras opposite with the US dollar after it reached 1.2800 Liras.

Companies Indexes

- Prices of the shares of the international trade bank have risen by more than 2% following profits achieved by the Egyptian bank in the first half of this year which strengthened the indicators of the Egyptian shares for the second day consecutively.
- The Saudi Billionaire Prince al Waleed Bin Talal, who owns the satellite TV channel “Rotana”, said in a statement that “Rotana” will integrate with the Lebanese TV channel LBC.
- BNP Bank, the biggest French bank registered in the stock market, has frozen investments estimated by 1.6 billion Euro “$2.2 bn”, pointing out that the real estate insurance sector is facing high dangers and problems in the US.
- Al-Kuwait stock market said that “Investment Dar” has increased its share in “Boubyan Bank” by about 20%, according to a survey by the central bank.

Bids & Contracts

- Abu Dhabi Satellite Telecommunications Company “Yahsat” announced that it concluded a contract by a total value of $66.1 bn with the group of the European Defense and Aviation “EADS” and the French Group for Electronics and Defense “Thales Alenia Space”.

Exhibitions & Conferences

- Chamber of Trade, Industry, and Agriculture in Jenin Governorate, and the international “Care” Organization have celebrated the opening of the products of ruler women, within the program of the emergency food stuff aids to the Palestinians financed by the European Commissionary for Humanitarian Aids.
- The dealer of mobile phones “Nedjma” in Algeria announced that it will organize an exhibition specialized in mobile phones in Bajaya city, in partnership with Sat Telecom between 8-17 of August at the tourist site “Capretor”.

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.