"The Dollar" is Behind Joining the Army

Following allocating an additional sum of $20.000 by the American army for the program of recruitment, attracting the American youth has become much easier than before. The program of increasing incentives for those who join the American army aims at increasing their number by the end of the 2007 to reach 80.000 soldiers, as the American army is fighting two wars in Afghanistan and Iraq, and it needs soldiers "who are ready to die", but the public refusal of the world decreases the number of those who join the army.
The American army has already increased the value of money offered by thousands of US dollars before a reaching the golden figure, i.e. $20.000. Ever since revealing this last July, the number of those who joint the army during the mentioned month has reached 6.200 new soldiers, but the American army is studying now the most difficult problem that money will not be enough for solving it, in the sense that if it was able to attract volunteers by dollars, then how will it be able to plant in them its fighting doctrine, and fighting in a war that they have nothing to do with and will not get benefit from?

One Billion Euro, The Revenues of Tourism in Tunisia in 8 Months

The national bureau of tourism in Tunisia said that the revenues of the country of tourism sector have reached 1.1 billion Euro during the first 8 months of 2007, with an increase of 9.1 compared to the same period of last year.

"Dubai World" Tries to Buy a Share in "MGM"

The "Dubai World" Company intends to pay a loan of $5.2 for financing investments in "MGM-Mirage". Bankers told Reuters that "Dubai World" seeks to take a loan of $2.7 bn, whereas its units at the "Dubai Ports World (DP World)" have loans estimated by $2.5 bn.

"Al-Sharaq al Awsat" Company is granted a License in Syria

Mr. Mustafa Obari and four of his sons, in addition to other nine persons have been granted the license by the Syrian authorities to establish a joint stock corporation by the name "The Middle East Corporation for Constructing and Investing Hotels and Tourist Facilities", with a capital estimated by 3 billion Syrian pounds.

Changing the Name of the "National Bank for Development" Into the "Islamic Abu Dhabi Bank-Egypt"

The non-ordinary general assembly of the "National Bank for Development" in Egypt has announced that it changed the name of the bank into the "Islamic Abu Dhabi Bank-Egypt". It is worth mentioning that a consortium comprising Abu Dhabi Islamic Bank and the International "Emirat" Company for Investment acquired by the end of last month 51.3% of the total shares of the "National Bank for Development".

$60 million For the Real Estate Fund of "Al-Salam" in Sudan

"Al-Salam" Bank in Sudan has announced that it circulated the first real estate "Al-Salam" Fund by a total capital of $60 m with the aim of offering investment opportunities in real estate sector in Sudan in accordance with the Islamic Sharia.

Small Projects for Women in Villages in Palestine

The Society of "The House of Agricultural Engineer" said that it will execute soon small projects at al Jeeb village North West of Jerusalem, with the aim of decreasing levels of poverty and unemployment, as well as increasing the income of the family.

"Mosiad" Publishes an Economic Newspaper in Arabic

"Mosiad" Society dedicated for the independent businessmen has issued for the first time in the history of the societies of businessmen in Turkey an economic newspaper in Arabic and English. The newspaper is considered the first of its kind in the Turkish society. In a statement it issued, the society said that issuing this periodical newspaper aims at offering help and assistance for businessmen who are member in the society and who seek to have ties and investments outside Turkey, as well as offering information about the potentials and available opportunities of the Turkish economy for the community of businessmen abroad.

"Iran Khodro" Complex Participates in the Exhibition of the Chinese Union of Cars Engineers

"Iran Khodro" Complex and the Iranian producers of spare parts have taken part in the international Chinese exhibition for cars production which was opened last Friday at the international fairground in Tianjen in China. A number of the Iranian cars produced by "Iran Khodro" complex will be exhibited in the exhibition among them Samand car of two different models in addition to Peugeot car-model 2006.

Small Indexes

- The "Central Bank of Kuwait" said that the dinar will be dealt by a basic price of 0.618 dinar per 1 dollar compared to 0.2815 dinar dealt by last Tuesday.
- Abu Dhabi Trade Bank said that it estimates the economic growth rate in the UAE by 8.5% for this year, i.e. a rate that is not up to the expectations of the government.
- Statistics issued by the bureau of exchange in Morocco said that the total value of Morocco’s imports of wheat in 2007 has reached by the end of July 287 million Euro, with an increase of 66% compared to the same period of 2006.
- The volume of dealings at real estate market in Jordan has reached during the last 8 months about 4.028 billion dinars, with an increase of 10% compared to 3.665 billion dinars gained during the same period of 2006.

Companies Indexes

- The Executive Chairman of "al-Joumaira" Group for the Management of Luxuries Hotels, located in Dubai, said last Thursday that the group hoped to operate at least five hotels in China by the end of 2010.
- The Kuwaiti mobile telecommunications company "MTC" will start using its new trade mark "Zain" next Sunday.
- The Executive Chairman of the Algerian "Cévital" company said that it intends to invest $20 bn in Boumerdas governorate with the aim of building and international seaport in Ras-Janat, as well as a complex for assembling cars with a capacity of 250.000 cars per year.
- "Emaar-Turkey", affiliated by the Emarate real estate "Emaar" company, is due to start today selling the group of the "Park View Villas", located within its project "Tuscan Valley Houses", at the selling center in the complex of "Emaar" for Business in Dubai.

Exhibitions & Conferences

- The activities of "Gitex" week for technology, which is considered the biggest exhibition specialized in the technology of information and telecommunications, the most creative in its version of this year which holds number 27, is due to start today at the international Dubai Trade Center.

Bids & Contracts

- The biggest bank in the Gulf area is due to be established through the integration between Emirates International Bank with Dubai National Bank, with a total assets of $45 bn, in which Dubai government owns 56% of its capital.
- The African Bank for Development said that it granted Morocco a loan of 45 million Euro for financing the project of building roads in rural areas.
- Dubai National Bank said that its contributors have approved a deal estimated by $11.3 bn for integrating it with Emirates International Bank controlled by the government of the Emirates, with the aim of establishing the biggest bank in the gulf in terms of assets.

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.