Iran Responds by "Shehab-3" Missile and Paying New York a Visit

The Western threats to Iran have increased during the last days because of its nuclear program, which Iran says it is a peaceful one and does not aim at producing nuclear weapons.
It seems that the officials in Iran adopt the policy "Measure for Measure", which distributes the western camp, in parallel with leaving the door open for dialogue as an entrance to a non-military solution that preserves its legitimate rights.
This was manifested by two clear movements by Iran. The first is challenging the West and its allies through exhibiting yesterday for the first time a new long-range missile named "Qader", asserting that its range is 1800 km and capable of heating targets in Israel and the American military bases in the region.
The second movement is a diplomatic one, embodied by the visit of the Iranian President Ahmadinejad to New to attend the meeting of the UN General Assembly.
Ahmadinejad told the reporters before leaving Tehran that he will expressed Iran’s view with regard to the world’s problems, adding that "since the second world war" the Americans were prevented from receiving the news as they really are therefore, he intends to take advantage from his visit "to express the stands" of the Iranian people because they are eager to be acquainted with.

The Gulf Investors Invest $68 Billion Abroad in 2007

An economic report published by Bloomberg web site said that the Gulf countries have spent since the beginning of this year about $68 bn on acquisition abroad. The Gulf investment funds have started, with the increase of the financial revenues of oil exports, to buy assets abroad with increasing percentages despite the rise of costs of loaning to the companies.

Syria Expects a Decree of Oil Production by 360.000 Barrels Daily

The Syrian Minister of Petroleum and Mineral Resources said that he expects oil production to decrease next year by 360.000 barrels daily, expressing his hope of new explorations. The minister expected that the Syrian reserve of oil and gas to last for the coming thirty years.

Sultan Center Invests in Clothes Sector in Egypt, Syria and Lebanon

The company of Sultan Center has been granted the proxy of the international "The Athlete’s Foot" for sports clothes through one of its affiliated companies, by investing more than $15 m through opening branches in Jordan, Lebanon, Egypt, and for the first time in Syria.

Algeria Achieves the Trade Surplus by About $20 Billion

The Director of Exploration Affairs at the Iranian National Oil Company, Mahmood Mohadeth, said that 16 oil fields as well as 14 gas fields have been discovered in Iran between 1997-2006. Irna news agency quoted Mohadeth as saying that the quantities of oil discovered in these fields are estimated by more than 72 billion barrels, adding that more than seven million barrels of liquid gas have been discovered during the same period, among them 1.3 billion barrels that can be produced.

"Adnoc" Decreases its Oil Production by 600.000 Barrels Daily

The National Center for Mass Media and Statistics affiliated by the Algerian Customhouse said that Algeria has achieved during the first 8 months of this year a trade surplus estimated by $19.575 bn opposite to $23.79 bn during the same period of 2006. The same source added that the volume of exports have reached $36.50 bn, with an increase of 3.88% compared to the first 8 months of 2006.

The Kuwaiti "Alafco" Rents Planes to Oman

"Alafco" company for financing buying and renting planes has announced that it rented six planes of the most modern types of Boeing to the Omani airlines for 12 years, on condition that these planes be delivered by three times between 2012-2015.

The Shares of the Jordanian Electricity Generating Company for Dubai Capital Company: 51 Percent

"Enara-Al-Arabia" energy company, affiliated to Jordan-Dubai capital company has been granted 51% of the shares of the Jordanian government at the central electricity generating company in a deal estimated by $320 m.

Small Indexes

- Iraqi Deputy Prime Minister has revealed that an agreement had been signed with the Italian government according to which Iraq will be granted a loan of $600 m for contributing in supporting the agricultural sector.
- The volume of the Egyptian exports to Ukraine have increased by 44% during the first half of this year reaching $36 m.
- The Jordanian Ministry of Energy and Mineral Resources has estimated the value of the expected investments in electricity sector during the coming three years by about half a million dinars.
- Egypt was ranked first as the first country in terms of loaning in the Middle East and North Africa region, as it had been granted 25% of the loans granted by the foreign banks to the governments of the organization of the Middle East and North Africa.
- Tunisia has approved on 45 plans for rehabilitating hotels of different kinds with investments estimated by 137 million dinars.

Companies Indexes

- Kuwait National Bank, the biggest bank in Kuwait, said that it achieved profits estimated by $178 m through selling last week shares of treasury which are shares issued by the bank then rebought.
- The real estate investment company "Al-Diyar" has bought, in partnership with the real estate "Barwa" company, the most prominent real estate developer in Qatar, a land in the new Cairo city for holding a huge real estate project with a total cost of $2-3 bn.
- "Al-Rafah" bank for Financing Small-Sized Companies has achieved a growth rate by 186% in terms of revenues, 82% in terms of deposits, and 207% in terms of facilitations.


- The Qatari Trade Bank has been granted an initial approval from the central bank for buying a share of an Emarati bank in return for $601 m, thus becoming the second biggest Arab economy in the Gulf area as a result of expansion.
- Share holders at Mascat bank, the biggest bank in the Sultanate of Oman in terms of market value, approved on Saturday on selling a share of 15% to Dubai Financial Group through a special issuance with a total value of $619 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 in Arabic and English. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English and French languages.