Doha’s Round and the Difficult Concessions

33 countries from Latin America and Asia called last Thursday for reaching a balanced agreement on the world trade talks very soon. They called for re-launching stumbling Doha’s talks on condition that the agreement preserves plurality and realizes a more international fair economic system. So, is it possible to achieve so?
The talks of the World Trade Organization have stumbled over and over again since they started in 2001. It is due to be resumed next month in Geneva, but the different stand between the rich countries, on the one hand, and the poor ones, on the other, as well as the opposition by countries like Japan and France in decreasing support of the agricultural sector, undermine hopes of reaching a world agreement.
Re-launching Doha’s talks necessitate a new American offer on agricultural compensation, and a new offer by the European Union on agricultural fees, as well as a new Indian-Brazilian offer on entering the industrial and service products to the markets. But none of these offers seem to be looming in the horizon of world economy.

Marocco Expresses High Expectations on Information Technology and the Telecommunications for Increasing its Exports

A newly-issued study prepared by the Professionals Society of Information and Telecommunications Technology in Morocco with support of the international financing establishment affiliated by World Bank, has revealed that 28 Moroccan companies, member in the Union of Information and Telecommunications Technology professionals, exported products with a total value that exceeded 246 million dirhams in 2006, 59% of them were companies offering services in information technology and electronic banking deals.

Iraq Seeks to Join World Trade Organization

The Iraqi Trade Minister has revealed that his country is about to join World Trade Organization, despite the conditions the Iraqi economy is witnessing. The minister said that the Iraqi government has started officially talks with World Trade Organization since last April, expecting Iraq to joint the organization between 2009-2010.

Kirkuk Intends to Sell its Oil to Public Refineries For Solving the Crisis of Fuel

An official at oil, industry, and mining committee in the council of Kirkuk governorate expressed the intention of the local administration to sell a part of its products of crude oil to public refineries, putting out that there are four public refineries working according to international criteria, adding that these refineries expressed their wish to buy the oil of the north for contributing in solving crisis of fuel.

A New Dam on the Euphrates and a Project for Pumping Tigers Water

The Syrian Minister of Irrigation, Engineer Nader al Buni, has revealed that a number of studies are being carried out for holding projects during the few coming years starting from 2008, the most important of which is building a dam on the Euphrates at “Halabiya” and “Zalabiya” sites.
It is worth mentioning, that the total cost of these projects is estimated by about 32 billion Syrian pounds.

The Palestinian Prime Minister Launches the Reform Plan 2008-2010

The Palestinian Prime minister, Dr. Salam Fayad has launched the plan of reform and development by the Palestinian authority for the years 2008-2010, aiming at preparing an overall plan for addressing the needs of the institutional sector in Palestine, and setting up a comprehensive prospect of the national economy in relation to the project of national liberation. The plan comprises all sectors in the fields of governance and administration.

The First Iraqi Oil Shipments Reach Jordan in Few Days

The Jordanian Minister of Energy and Mineral Resources said that the first Iraqi oil shipments will reach the Kingdom during the few coming days in accordance with the agreement signed between the two countries in 2006. The official Jordanian news agency Petra quoted Mr. Khalid al Shareda as saying that the Iraqi government has informed Jordan of its readiness to export the Iraqi oil to Jordan with quantities estimated by 100.000 barrels per day with preferential prices.

Kuwait Allows the Dinar to Rise for the First Time in Four Days

The Central Bank of Kuwait has allowed the local currency to rise for the first time opposite to the US dollar in four days following the biggest percentage of profits by the Euro in one day opposite to the American currency in six weeks.
The bank said that the Kuwaiti currency will be exchanged by a basic price estimated by 0.28170 dinar per one dollar compared to 0.28180 dinar per 1 dollar recorded yesterday, allowing an increase of the dinar by 0.04%.

Abu Dhabi for Energy Tries to Acquire An Oil Sector in North American

The National Abu Dhabi Company for Energy “Taqa” has revealed that it is studying an acquisition deal at oil sector in North America, pointing out in a statement issued by Abu Dhabi stock market that the council if its directors discussed a possible acquisition at oil and gas sector in North America and approving it.

New Oil Projects for the Indian “Reliance” in Egypt

The Group of the Indian “Reliance” companies studies the possibility of holding new projects in refinery, petrochemicals, natural gas, promotion activities and exploring oil and gas in Egypt fields, through building a complex of energy with a total capacity of 1.3 million tons, which is considered one of the biggest complexes world wide, with investments estimated by $1.5 bn.
The total value of its production is estimated by $2.5 bn, which would create 90.000 direct job opportunities, as well as another 90.000 indirect job opportunities.

Algeria Records the Surplus by $17 bn

The Algerian National Center for Statistics and Statements said last Thursday that Algeria has recorded a surplus of $17.14 bn during the first seven months of last year, yet this figure represents a decline by $4 bn compared to the same period of last year as a result of the increase of imports and the relative decrease of exports.

The Increase of Iran’s Wealth in the Field of Oil and Gas

Ghulam Hussein Nozrei, an official at the Iranian Minister of Oil said yesterday that his country’s capacity of oil production has increased by 4 million and 100.000 barrels per day, adding that 7 billion barrels of newly – discovered oil have been added to the country’s reserve.

Russia Nominates Czech Republic for the Administration of International Monetary Fund

Russia has nominated the Czech Josef Tosovsky, for preceding Rodrigo De Rato who will risen as Chairman of the International Monetary Fund next Autumn. 27 European countries in addition to the US agreed at the end of July to support the nomination of the French Dominique Strauss-Kahn.

Small Indexes

- Statements by the Iraqi Central Bank showed that Iraq’s exports, especially the oil exports, increased last year reaching $30.5 bn opposite to $23.7 bn in 2005, whereas its imports declined by $20.9 bn in 2006 opposite to $23.5 bn in 2005.
- Officials at the Turkish Ministry of Energy said that oil flow from Iraq to Turkey will reach 500.000 barrels per day during the coming short period of time in accordance with an agreement signed between the two countries.
- The number of tourists who visited Egypt in June of this year has reached 743.000 tourists with an increase of 17.25% compared to last year, according to figures published by the Central Commission for Statistics.
- The Iranian Minister of Cooperation, Amanallah Abbassi, said that 1 million and 500.000 housing units have been belt this year in Iran by cooperation companies at different parts of the country.

Companies Indexes

- “Nokia” company for manufacturing mobile phones said that India ranked second on the list of the most important markets of the company. Among 185 million users of mobile phones in India, there are 85 million persons who use “Nokia” mobile phones.
- “Intel” company has revealed its latest products of computer hardware during the conference of the electronic games held at the German Leipzig city.

Bids & Contracts

- Emarat Telecommunications Establishment “Itissalat” said that it is interested in buying a share in the third company for the services of mobile phones in Kuwait, with the aim of getting benefit of the increase demand on telecommunications in Kuwait, the fourth biggest oil producer in the Middle East.
- The national Abu Dhabi Company for energy “Taqa” said in a statement that it will buy the Canadian “Pioneer Canada” for Oil and Gas Exploration in return for $540 m.


- “Intracom-The Middle East” company is due to take part at the conference and exhibition of GSM-the third generation, 2007 in the Middle East and the Gulf area on the second and third of next September at Dubai International Center for Conferences and Exhibitions with the aim of exhibiting its products and solutions.

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.