A Wall That Needs More than to Contractors

A Wall That Needs More than to Contractors

The Saudi Arabia has announced a bid for building a security wall along its borders with Iraq with a cost that amounts $ 1.07. The kingdom circulated third bid among five local companies which are: Bin Laden Group, Saudi Augea, al-Saif for Engineering and Construction, al-Kudari Sons, and al-Arab for Contracting. It also circulated it among international companies such as: the European EADS Group, the American Boeing, and the British BAE Systems. It is expected that the competition among these companies to be force, not only because of the big deal, but also because of the political dimensions of the project, which set up the foundations in the era of globalization and the world of the one village for separate walls similar to "the wall of Berlin" which the world celebrated its fall in the last century. As the Saudi Arabia sees the wall as a necessity for establishing security in the country, history, on the other hand, proves that the security of countries needs more than building a wall.

Morocco Signs Seven Agreements in the Tourist and Industrial Sectors

Mohammad the Sixth, King of Morocco, chaired last week the ceremonies of signing seven partnership agreements in the tourist and industrial sectors with a total value of 30 billion dirhams, expected to create about 22.000 job opportunities.

The Establishment of Two Companies between Syrian and Turkish Investors

The Industrial Sabaggh and Sharabati Group, the leading company in textile industry, has taken its first daring step by implementing the Syrian Turkish agreement with regard to free trade through establishing two companies with the Turkish side. The first will be established in Aleppo by the name "Onz" and the second will be in Jableh city on the Syrian coast by the name "Fashion Point".

China Announces the Increase of Foreign Investments

China announced that it managed during the last months of 2007 to attract about $42 billion through direct investments with an increase of 12.8% compared to last year, at a time publications issued by the International Monetary Fund which have warned Beijing against the dangers of depending on the foreign investments instead of developing and increasing the domestic consuming.

Egypt Insists on Preserving the Ownership of "Al Mouqaeloun Al-Arab" Company

Ibrahim Mahalab, Chairman of the Egyptian "Al Mouqaeloun Al-Arab" (The Arab Contractors) company asserted that there will be no selling of any share of the company either completely or partially for at least the coming ten years.

The Turkish "Taff" and the Lebanese "CCC" Companies Chosen to Build "Sabha" Airport in Libya

Libya has chosen the Turkish "Taff" and the Lebanese "CCC" companies for building an airport in "Sabha" city with a total cost of 250 million Euro. It is expected that the total capacity of the new airport to reach 3 million travelers.

Qatar National Bank Signs a Loan Agreement with $2 bn

Qatar National Bank said that it signed a loan agreement with a total value of $1.85 bn for five years. During the subscription process, the volume of the deal has increased twice after it had a wide turn out by the banks.

A Joint Company Between the Omani Oil Company and the Chinese China Gas Company

The Omani Oil Company and the Chinese "China Gas" company have signed an agreement for establishing a joint company with a total capital of $40 m, in which each part will own 50% of its capital. The new company will work on importing crude oil, and liquid natural gas and their products from the Middle East area to the Chinese markets, as well as working in the fields of exploring crude oil and developing projects related to energy sector.

Companies Indexes

– Statements of the exporters in Turkey showed that the total value of exports of gold of Turkey has increased by 22.8%, reaching 61.8 tons between November and August compared to the same period of last year.
– Chairman of the Commission of Suez Canal, Ahmad Ali Fadel said that the administration of the canal expects its revenues to increase by at least $4.25 bn during this year, recording its highest level ever since the opening of Suez Canal for navigation in 1869.
– The volume of trade exchange in the Jordanian free zones has reached during the last months about one billion and 125 million tons which included the imported and exported goods to the local and external markets.
– The Kuwaiti Oil Establishment said that the price of the Kuwaiti oil barrel reached last Thursday $72.12 with an increase of 40 cents.

Small Indexes

– "Orascom Group" for Hotels and Development said that it has been granted the final approval from the Moroccan government for building a tourist resort in the kingdom.
– The sellings of the German "Bourchee" company for sport cars have increased by 3.4%, reaching 7.4 billion Euro, whereas the volume of the sold cars has increased by 0.7% reaching 97515 cars during last July.
– The Emarati Group "Reem for Investment" and the Moroccan government have signed an agreements for implementing a tourist project in Morocco under the name "Atlas Garden" with a total cost of $4 bn.
– In implementation of the agreement signed lately with "Mobile Value Systems" company, the exclusive partner of Luup technology in the Middle East, Abu Dhabi National Bank launched Lump system for transforming money electronically through the mobile phone.

Bids & Contracts

– Egypt has signed three cooperation agreements between Turkish and Egyptian companies for the industry of cars spare parts. Present at the signing ceremony was the Turkish ambassador to Cairo Shavak Joktork.
– The Syrian Ministry of Electricity has signed a memorandum of understanding with the Japanese cooperation agency "Jaica" for training Iraqi cadre in the field of transforming, generating, and investing electrical energy.

Exhibitions

– Tunisia is preparing to host the first international forum on environmental investment by the name "Green Africa-2007", to be held at arts exhibition, north of the Tunisian capital between 9-11 of November.
– Ministry of Tourism held an expanded workshop at the Arab-British Chamber of Commerce residence in London. Many British companies working in the field of tourism and investment, as well as many mass media men and tourism and investment offices were invited to take part in this workshop.