The Arabs Occupy the Last Positions on the Lists of Financial Transparency

The Arab countries have achieved disappointing results, according to the report issued lately by "Transparency International" Foundation the year 2007.
The results were announced yesterday at the German capital Belin. The report said that almost all Arab counties retreated in terms of transparency compared to the positions they occupied last year, except two countries only, name Qatar, which jumped from the first position to the first one as the most transparent Arab country, and the least occupied occupying position number 12 worldwide, followed by Morocco, which jumped 10 positions forward, occupying position 72 instead of position 82 it occupied last year.
The report, which comprised the cases of 180 countries according to the estimated levels of corruptions among their governmental officials and politicians, further said that Iraq occupied the position before the last followed by Somalia and Myanmar, pointing out to the responsibility the rich countries shoulder in treating with the problems of corruption, beating in mind that briberies come from multi-national companies working in the poorest countries in the world.
Finally, we must point out that Denmark, Finland and New Zealand were highly praised as the most countries that enjoy financial and judiciary transparency. One wish that Arab countries would realize that one day (if they have a real wish?).

Davos Forum to be Held in Egypt for the Second Time

The two representatives of the Egyptian government and the "World Economic Forum" (Davos) said that any country in the region can participate in the session of the forum which is expected to be held at the Egyptian Sharm al-Sheikh resort for the second time in May of 2008. This came in response to a question whether the forum would invite Iran or not and following signing the protocol of holding the forum between Rashid Mohammad Rashid, the Egyptian Minister of Trade and Industry and André Schneider, the General Director of the Forum.

A Promotional Campaign for Supporting the Syrian Industries and not Dealing with the Foreign Industries

Damascus Chamber of Industry said that it would launch an advertising the mass media campaign by the mid of next October with the aim of supporting the national industries and urging the citizens to do away with the foreign product and buying the national products. The campaign will be launch under the motto: "Buy the Product of Your Country, and Guarantee Your Son’s Future".

The American Group for International Investments Moves its Regional Bureau from Malaysia to Syria

The American group for international investments announced it moved its regional bureau from Malaysia to Syria, which will take Damascus as a regional center in the Middle East and north of Africa. It is worth mentioning that the sectors, which the group will start implementing its projects in during the first phase are: industry, education, health, real estate investment, and tourism sectors.

The American "Boeing" to Operate the International Najaf Airport (Iraq)

The Governorate of al Najaf announced that it signed a memorandum of understanding with "Boeing" company for planes industry to operate Al Najaf International Airport in the governorate. The spokesman of the governorate said that delegation from the company visited the airport and reviewed with officials the possibility of holding training courses for the cadre working at the airport in the technical fields, exchange information and expertise, in addition to the possibility of signing a contract for operating the airport at the end of building it and providing it with planes.

The Tunisian-Kuwaiti Bank Opens a Second Branch in the Tunisian Capital

The Kuwaiti news agency said that the Tunisian-Kuwaiti bank has opened a second branch in the capital Tunisia. The agency quoted the General Director of the Bank Imad al Sharif as saying that this step aimed at transforming the bank from a commercial institution to another that would support the local contracts.

"Sonatrach" Announces its 16th Discovery for This year

The Algerian Company for Fuels "Sonatrach" announced a new discovery of fuels which is the 16th of its kinds since the beginning of this year.
The new discovery was made by "Sonatrach" company and its partnership "Anadarko" at Berkine basin in Zemlet En Naga area in Algeria. It is worth mentioning that the depth of the well is 3611 meter with a total capacity of production estimated by 6.26 cubic meter of oil per hour.

"Deeba" Wishes to Collect $400 m Through Selling Shares

"Deeba" company for contracting and internal designs said that it intends to allocate $400 m through an initial circulation of bids next year with the aim of financing expanding and registering shares in a foreign stock market.

A Strategic Partnership Between "Aldar", Abu Dhabi, and Warner Brothers

The real estate "Aldar" company, the newly established Abu Dhabi mass media company, as well as Warner Brothers Entertainment Company has made a long term strategic partnership with multi purposes with the aim of establishing a city for entertainment, enabling hotel, a cinema hall of a joint ownership, in addition to an agreement of financial partnership for producing films and developing as well as distributing video games and contributing in supporting the rise of the digital infrastructure in Abu Dhabi.

Small Indexes

- Assistant Minister of Labor and Social Affairs in Iran Jawad Mahraian said that 1.950000 job opportunities were created during the last two years in the country, with an increase of the expected percentage estimated by 900.000 job opportunities annually.
- Algeria dropped from position number 116 to position 125, according to an evaluation by the International Bank dedicated for the environment of business and investment.
- Officials statement issued today showed that the number of the foreign tourists to Turkey has risen by 16.5% last August compared to the same month of last year which indicates the continuous big growth rate of tourism sector.
- The Kuwaiti Central Bank said that the exchange rate of the Kuwaiti dinar will be with a basic price estimated by 0.27970 dinar per one dollar compared to 0.27985 dinar per dollar with a rise of 0.05%.

Companies’ Indexes

- A spokesman of the Emarati airlines company said that the company does not intend to buy any other airline company, in a response to what an Italian company said that the Emarati airlines might be interested in buying the shares of the Italian airlines company "Alitalia" which the Italian Ministry of Treasury intends to sell.
- The Group of "The International Mag for Real Estate Development", located in Dubai intends to reveal additional details about four new real estate housing and office projects during the exhibition "City Skip-Dubai" specialized in real estates sector.
- A newly issued American study said that the South Korean "Samsung" company preserved its position on the top of companies which manufactures TV sets during the second quarter of this year, acquiring 12.4% of the international market.
- The Swedish Commission of Financial Supervision said that the American "Nasdaq" stock market is qualified to become the owner of OMX company for the management of stock markets in North Europe.
- The Indian "Amsons International" company said that it will hold a joint project with Eta Star Group, located in Dubai, with the aim of exploiting coal in Indonesia.


- The Russian "Novatek" company for gas production said that it has been granted a share of 50% in the agreement of concession of oil and gas production in Egypt in its first expansion abroad.
- The Islamic Bank for Development signed a memorandum of understanding with the Islamic Establishment for Developing a Private Sector and Japan Bank for International Cooperation aiming at enhancing and developing cooperation and bilateral relations.

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.