The Sequence of Roles and New Heroes

It seems that the theory of the sequence of generations has had its way in entering the international policy, in the sense that we can talk today about new roles and new players.
Chairman of the Council of the Heads of the Group of the Russian Companies, Rouben Vardanian, "Troika Dialogue" said that the economic map of the world will change drastically during the coming 10-15 years due to the big economic growth rate of BRIC: Brazil, Russia, India, and China. In an interview with Novosti news agency, on the sidelines of his participation in the first meeting of the new heroes, Vardanian further said that the member states of BRIC, Pakistan, as well as the African countries play a pivotal role in world economy which would result in real change of the international economic map.
Rouben Vardanian added: "In the past, the equation was very simple, in the sense that there were many world players, whereas the other companies were very small to the extent that they were not able to compete them. Presently, he said, the Chinese, Indian, and Russian companies present the local companies with the possibilities to become bigger and cooperate with the international players.

The Increase of Inflation Percentages in Jordan

Economic experts expected an increase of inflation percentages in Jordan as a result of raising prices of goods and foodstuff with big percentages during the past period whereas their incomes remained as they are.
The percentage of inflation during the first seven months of this year has reached 5.9% compared to 6.25% recorded last year, which is the highest since 1991. It is worth mentioning that a figure of inflation that reached 16.2% was recorded in 1990 due to the fiscal and financial crisis that hit the Jordanian economy accompanied by the collapse of the dinar and what followed of economic reform programs executed in cooperation with the monetary fund and the International Bank.

Byblos Bank Offers Loans for Buying Cars, Personal Loans, and Credit Cards

Byblos Bank has announced that it started to offer loans for buying cars with a first payment estimated by 10% of the total price of the car. The maximum loan offered by the bank is estimated by 2 million Syrian pounds that can be paid during five years.
Moreover, the bank will offer international credit cards "Master Card" and "Visa", the first of its kind in Syria for the services of direct payment and withdrawing from the ATM.

Donors Pledge to Pay $20 m for Rebuilding Nahr al Bared Camp

Donors have pledge to pay about $20 m for helping the Palestinian refugees as a result of 15 weeks of fighting between the Lebanese army and Islamic Fath al Islam Group.
The Lebanese government has called for holding a conference of the donors but the value of the expected aids seem to be very small compare to the estimations of rebuilding the camp.

The Establishment of a New Factory for Iron Production with a Finance by the Egyptian Al Ahli Bank

The administrative board of the Egyptian Al-Ahli Bank has approved on financing the establishment of a factory for iron production "DRI" in an area to the north-west of al Suez Canal with a total value of 1 billion Egyptian pounds.

The Sudanese Telecommunications Company is Granted the License of Mobile Phones in Senegal

The Commission of ARTB, supervising the facilities of telecommunications in Senegal, has granted the Sudanese telecommunications company "Sudatel" the license of telecommunications of mobile phones as well as land mobile phones in return for $200 m.

The Explosion of A Pipeline Decreases the Iranian Gas Supplies to Turkey

An official at Energy Sector in Turkey said that the big explosion of a pipeline that transforms natural gas from Iran to Turkey resulted in stopping the supplies last Sunday.
He pointed out that the cause of the explosion was unknown adding that the officials hoped to resume supplying Turkey with gas by next Tuesday.

Palestinian Economists Call for Reforming the Judiciary System

Palestinian economists have called for more encouraging environment of investment and developing the Palestinian economic activities pointing out to the necessity of reforming the judiciary system because it is a main and pivotal factor in promoting investment.

The Kuwaiti al Khurafi Group Increases its Share in the Mobile Telecommunications Company

The Kuwaiti al Khurafi Group has increased lately its share in the "Mobile telecommunications company (MTC)", which had changed its name to "Zain", through one of its companies.
Statements issued by the stock market pointed out on its website that the national "Al-Khair" company for shares and real estates affiliated by the group has acquired 9.213% of MTC. According to pervious statements on the website of the Kuwaiti stock market al Khurafi share reached 9.085%.

Small Indexes

- The Syrian Al Ba’ath newspaper said that Syria has signed lately two agreements with OPEC fund for international development according to which it will be granted a loan estimated by $48 m.
- The Iranian Assistant Minister of Agriculture for Gardening Affairs, Hussein Yousefi said yesterday that a total of 1 billion and 700 million US dollars of products of gardening were exported last year.
- The First Russian Deputy Prime Minister, Dmitry Medvedev, said in a statement he delivered in the economic forum of social security that the Russian economy is achieving considerable growth rate, adding that Russia has become one of the tenth biggest economies in the world.
- The Russian GDP has increased during the second quarter of 2007 compared to the same period of last year with an average of 7.8%. The GDP reached, according to market prices, 7.648 trillion roubles.
- Statistics issued by the Russian custom house show that Russia important 831.9 thousands cars with the total value $11 bn in seven months in 2007 compared to $6.2 bn of cars value imported during the same period of last year.

Companies Indexes

- Kuwaiti real estate "Jezan" company has been changed into the holding "Jezan Company" as of the fourth of this month.
- The South Korean "Samsung for Engineering" company has won a deal estimated by $1.1 bn for building two complexes of natural gas in Thailand.
- The dealing of the shares of "Al-Madina" company for Financing and Investment at Dubai stock market is due to start today, according to a statement issued by the commission of stock markets and goods in the UAE.
- The Authority of Qatar Financial Center and the International "Bloomsbury" publishing house said that they concluded an agreement for issuing a financial and banking publication in two copies: the first is printed whereas the second will be published on the internet.

Bids & Contracts

- "Dubai Financial", owned by the Governor of Dubai, said that investors representing a share of 60% of the Bahraini "Tayeb" bank have approved on selling their shares in a step aiming at acquiring the bank.
- The Taiwani "Cosmos" bank said that it signed an agreement with two units affiliated by the American "Sack Capital" and "General Electric" companies with the aim of acquiring about 80% of their shares in return for $900 m.
- The E-Dubai Government has signed a contract of strategic partnership with "Etisalat" company, the leading company in the field of telecommunications in Emirate. According to this contract the two companies will launch a joint project that will offers a package of the solutions of information technology and telecommunications for governmental bodies in the UAE and the GCC countries.

Exhibitions & Conferences

- The preparatory meetings of the joint Syrian-Iranian Technical Committee have started with calling upon the Iranian side to develop the industrial and technical relations with Syria to reach $10 m through holding joint industrial projects between the two countries.
- Paris is due to host the meeting of Gas for 2007 starting today. The three-day-meeting will discuss issues related gas series through holding seminars and workshops.

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.