Loans are Italy’s Economic Gate to Iraq

Italy has entered Iraq economically through granting loans, and specifically those loans that service the Iraqi agricultural sector which has been weakened by the American occupation.
Few days ago, Italy granted Iraq an easy-paid loan of $600 m for supporting agricultural projects.
The loan will be allocated for supporting small-sized projects of the workers at the agricultural and industrial sectors. The first payment of the loan will be invested in "Ze Qar" governorate and later on in other governorates.
For his part, the Iraqi Minister of Finance Baqer al Zoubaidi pointed out that the Italian loan will be of 2% interest only with a period of allowance of non-payment for ten years and a period of 25 years for payment.
The signing of the agreement for granting the loan will be take place at the end of next month in Italy, after the approval of House of Representatives on the terms of the agreement aiming at supporting the workers in the agricultural and industrial secgtor and supporting the small-sized projects, buying agricultural equipment, water pumps, and other agricultural equipment.

Iran and the Right of Possessing "Alternatives of Energy"

The Iranian President Ahmadi Najad said last May of this year in front of foreign ambassadors accredited in Tehran, on the sidelines of what Iran calls "The National Day of Nuclear Technology" that Iran has entered the International Nuclear Club, adding that this is an achievement offered to the Iranian people and all free peoples in the world, he further said that this achievement "The Peaceful Nuclear Program" will contribute in providing 20.000 megawatt of energy annually through Iran’s sources of gas and oil which would help in the agricultural fields and producing electricity as well as in the medical sector.

Kuwait Advances Six Degrees on the Skill of Work Improvement

Kuwait ranked second in the Arab world and forty world wide in terms of smoothness of business activities. A report issued by the World Bank and the international establishment "Doing Business": said that Kuwait has moved six ranks forward compared with the indicator of 207, from the 46th position to position No. 40.

"Taqa" Acquires "PrimeWest Energy Trust"

Abu Dhabi National Company for Energy "Taqa" announced that it signed an agreement with "PrimeWest Energy Trust" for buying all units of the fund in return for 26.75 US dollar for each unit, with an increase of 30% of the price of the closing dealings on Friday.

The Establishment of a Syrian-Iranian Company in the Field of Studying Water Facilities

The Syrian Ministry of Irrigation is working on establishing a Syrian-Iranian Joint Company specialized in the field of studying water facilities and its designs. The Syrian Al-Thawra newspaper quoted the minister as saying that this project was the result of his last visit to Iran. It is worth mentioning that Syria and Iran have signed a big number of economic, trade, industrial,. Tourist, oil and energy agreements during the meeting of the joint Syrian Iranian Economic Committee.

Multi-National Companies Increase Corruption in the Poor Countries

An international organization for monitoring corruption said that multi national companies and financial institutions which use bribery help feeding corruption in the poorest countries in the world. "Transparency International" organization (which is funded by the NED/CIA) said that the institutional centers play a main part in allowing the corrupted officials to hide and investment their money.

An Increase of $160 billion of the Turkish Exports This Year

The Turkish Minister of Trade Khorished Tozmen said that it is expected the total volume of imports of Turkey to reach $160 bn this year, adding that Turkey’s imports of gas and oil will reach in total $35 bn.

Sudan Deals with the Euro Instead of the US Dollar

Sudan has decided to adopt the European Euro instead of the American dollar in its internal and external dealings. The Director of the General Directorate of Financial Markets at the Sudanese Central Bank, Hussein Yahia Janqoul told B.B.C that the motives behind taking this decision are due to the fact that the US dollar represents a main factor in the American sanctions against Sudan and some other countries.

Small Indexes

- The Thai Nation newspaper quoted officials in its edition issued on Wednesday that the volume of the non-oil trade exchange between Iran and Thailand will rise in 2008 by 25%, reaching the limit of $867 m.
- The Turkish Minister of Trade Khorished Tosmen said that it is expected the total volume of the Turkish imports to reach $ 160 bn this year.
- Sheikh Khalid Bin Sami al Sami, one of the name partners at the International Islamic Syria Bank, discussed with the Syrian officials means of developing and increasing the Qatari investments in Syria through offering many investment ideas, the most important of which is establishing and insurance company.
- Exchange rates of the Turkish currency have risen by 1.22 Lira opposite to the dollar yesterday, with an increase of 1% compared to the closing prices of last Tuesday reaching their highest levels ever in six years.

Companies’ Indexes

- The consultant of the Minister of Telecommunications and the Technology of Information in Egypt Amro Hashem said that his discussions with officials at the international Nokia company have revealed the company’s intention to offer portable computers of low costs that would back the services of the third generation in Egypt.
- Statements of he stock market showed after the closing session of dealings yesterday that the Kuwaiti al Kharafi Group increased its share at Zain company for mobile phones services by 9.46% through one of its units.
- The Emarati "Aldar" company said that Warner Brothers Entertainment Company has agreed with the Emarati real estat "Aldar" company and Abu Dhabi mass media company on holding a joint project for producing films and video games.
- The Emirati "Shara" company for mass media has signed a memorandum of understanding with the international Zogbi establishment, located in New York and Washington, with the aim of cooperating in the field of making researchers and inquiries, as well as collecting statements and information.


- The Iranian Minister of Oil said that his country intends to implement a gas project with million of US dollars without the participation of total company in case the giant French company yielded to political pressures aiming at not taking part in the project.
- The Kuwaiti oil company said that Kuwait has approved a budget estimated by $14.29 bn for building the biggest oil refinery in the Middle East, which represents the double of the original estimation of the costs.

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.