Cholera Spreads in Iraq’s Governorates

Following the explosions, assassinations, and the instability as a result of American occupation of Iraq, Cholera has become the other enemy of the Iraqi people which have started to face a merciless epidemic.
World Health Organization asserts that 10.000 persons have been infected by this disease in al Sulaimaniya governorate, and Kirkuk city, north of Iraq, without mentioning anything about the cause behind the spread of this disease.
9 person died and 2930 others were infected by Cholera in al Sulaimaniya, whereas one person died and 2968 others were infected in Kurkuk during the last 11 days.
The organization further said the cost of this infection was unclear till now, adding that the cause behind the spread of cholera in Kurkuk was the mix between sewage and clean water.
The question is: Is not the spread of Cholera, and the lack of protection in the Iraqi governorates is the logical results of the American occupation which takes no consideration whatsoever to the Iraqi people and the health of its citizens?.
Moreover, is not there a close connection between security, in general, and the lack of health, and social security in the country? Who can expect that Iraq will survive the environmental, health, and human disasters amid the harsh circumstances with the occupation which the country witnesses?.

"Central Bank of Kuwait" Does Not Change the Exchange Rate of the Dinar

"Central Bank of Kuwait" has made no changes whatsoever in the exchange rate of the dinar for the second day consecutively, as prices of the US dollar opposite to the Euro and the Yen remained stable. The Bank said that the dinar would be exchanged by 0.28150 dinar per one dollar.

"Franklin Templeton" Buys 25% of "Algebra Capital"

"Franklin Templeton Investments", which runs assets estimated by $621 bn, said yesterday that it bought a share of 25% from the limited "Algebra Capital", adding that it wants to increase its activities in the Arab markets. It is worth mentioning that "Algebra" and "Darby Overseas", the arm investment in "Franklin Templeton" will cooperate in investment activities in the Middle East and North of Africa.

A-12%-Increase of the Assets of the Palestinian Banks in One Year

The Governor of the "Palestine Monetary Authority", Dr. George al Abed, said that the assets of the banks working in the Palestinian territories have increased by 12%, raising from $6.521 bn last July to about $5.4 bn in July 2006, whereas the volume of deposits has increased during the same period by 9%.

Turkey Sells Mass Media Assets by a Total Value of $1.1 bn

A governmental fund of deposits and insurances said that it would sell in an auction mass media assets that have been confiscated, among them the widely spread Sabah newspaper in a deal estimated by about $1.1 bn which might contribute in re-structuring mass media sector with the help of foreign investors.

Negotiations with a Syrian Investor for Establishing Two Free Zones on the Borders with Iraq

Negotiations are being carried out between the General Establishments of Free Zones in Syria and one of the Syrian investor with the aim of establishing two private free zones on the borders with Iraq, and with a total space area that exceeds more than 15.000 hectares.
Techreen newspaper quoted the General Director of the Establishment as saying: "That the investor has partners from the Gulf area, adding that he allocated by $125 m for building the infra-structure".

"Qatar National Bank" Opens a Bank in Syria

"Qatar National Bank" has signed the final agreement for entering the Syrian market and establishing "Qatar National Bank-Syria" with a capital estimated by $1 m.
"Qatar National Bank" will contribute by 49% of the total capital of the bank. It is worth mentioning, that private and governmental Syrian figures will contribute by 15.50%, and the private sector would contribute by 3%, as well as offering 32.50% for general subscription.

New Kuwaiti Investments in Jordan

The Iraqi Minister of Finance has revealed that the Iraqi government intends to establish a national telecommunications company with the aim of competing the three companies which had been granted licenses of the service of mobile phones in Iraq.
On the other hand, "MTC" and "Korek" companies are competing for buying the assets of "Iraqna" company affiliated by the Egyptian holding Orascom Telecom Company which had withdrawn from the auction of granting licenses for operating mobile phones.

New Egyptian Stock Market for Small-Sized Ventures

The Egyptian Minister of Investment, Mahmoud Muhieddin, said that a new stock market for small and medium-sized ventures has been established in Egypt, adding that activities of this stock market will start next October.

Iran is the Most Important Trade Partner of South Korea in the Middle East

South Korean Deputy Foreign Minister, Jojong Pu, said yesterday that Iran is the most important economic and trade partner of his country in the Middle East.
Pu added, during his meeting with the Iranian ambassador to South Korea, Jahan Bekhsh Muzafari that his country is interested very much with the relations with Iran, adding that it has work always on enhancing and strengthening them.

Iran Welcomes the Participation of the Local and Foreign Investors in Building Its New Cities

The Executive Chairman of the Company of "Construction of the New Cities" affiliated by the Iranian Ministry of Building Houses and Cities, Zaker al Husseini, said on Monday that his country is working on building 18 new cities in different parts of the country through using modern technologies. Al Husseini said that his country welcomes the participation of local and foreign investors in taking part in the construction sector in Iran.

Algeria Cancels a Joint Project for Gas Production with Spanish Companies

Algeria cancelled last Monday the project of "Gassi Touil", dismissing the services of "Repsol" and "Gas Natural" companies.
The Algerian governmental "Sonatrach Group" which owns 20% of the capital of the project accused the two Spanish companies of delaying.

Small Indexes

- Federal Reserve Council said that chaos witnessed by money markets have caused considerable damage of housing sector in the US, adding that it had no other consequences on other economic sectors.
- An official at the Iraqi Ministry of Oil has revealed that the ministry intends to increase the volume of its oil exports from the Southern fields by more than 2 million barrels per day by the end of this year.
- Reports by Algerian newspapers said that Banque nationale de paris (BNP) will hold training courses by the end of this week dedicated specially for the directors of the Algerian small and medium contracting companies.

Companies Indexes

- "Emirates airlines" located in Dubai said that it received today the first Boeing 777-200 LR plane.
- The First Gulf Bank and the Fund of Economic and Social Development in Libya have signed a memorandum of understanding for establishing a trade bank with the name of the Gulf-Libyan Bank under the administration of the bank located in Tripoli.
- The Egyptian hold "Orascom Telecom Company", the biggest mobile phones company in the region, has achieve an increase estimated by 201% of net profits during the first half of this year, reaching $955 m, backed by the deal of buying an Indian unit for "Hutchison Telecommunications International Limited (HTIL)".

Exhibitions & Conferences

- "Fairs and Exhibitions", the Leading International Company in the sector of Organizing Trade Exhibitions in the Middle East, has revealed that it intends to hold the "Gulf Educational Supplies Show (GESS)", as well as the "Global Education Forum (GEF)" between 22-24 of next January in Dubai.

Bids & Conference

- Holders of Shares at "Emirates International Bank" had approved a plan by Dubai government for integrating it with Dubai National Bank, making it the biggest bank in the Gulf area in terms of the volume of assets, in a deal estimated by $11.3 bn.
- The holding "Kuwait Invest" company said that it bought a share of 50% in the Jordanian company "Afaq Financial Services" in return for $5.68 m.
- "Emirates Investment and Development Company (Emivest)" has bought a share of 15% from the Malaysian technology company, "ETI Tech Corp" with a total value of 34 million shares.
- "HSBC" Bank has agreed on buying a share of 51% from "Korea Exchange Bank (KEB)" from the private investment company "Lone star" in return for $6.3 bn.
- The Iranian "Engineering and Developing Oil Sector" company and a consortium consists of the Iranian "Petro-Iran" company, and the Belarusian "Belarussia-Oil", signed yesterday an agreement for developing the oil field "Jufer" in Iran with a total cost of %500 m.

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.