$ 190 Billion For Financing "A Limitless War"

The American Minister of War Robert Gates has ordered a sum of $190 bn for financing Iraq and Afghanistan wars for 2008, that is more than $40 bn increase than what it was expected.
In case this budget was approved, it will be the biggest budget dedicated by the US for "war", i.e. the open war launched by America with no limits. Consequently, the budget of this war is also limitless . On the other hand these big figures raise many questions in the sense that an institutional economic system as it is the case in the US, does not think of any project without studying its economic viability and consequently war, according to the modern economic science, is classified as an economic project that has a capital, assets, equipment of production, and products. So the question is what is the viability of this economic war, and when the preparatory period will end so that the operation period starts? Moreover, how much Washington expects to gain from investing more than half a million billion US dollars that have been spent on the war machine since 11/9?

The Syrian Airlines Studies Five Bids for Renting Four Planes

The Syrian Airlines Establishment has offered five bids for renting planes, three of them according to the principle "What Peace", which means renting planes with their crew, and maintaining and insuring them, and the other two according to the principle "Try Peace" which means renting the planes and operating them by Syrian crew.

The Arab Union for Textile Industries Launches a Project for Manufacturing Cotton

The General Director of the Arab Union for Textile Industries announced the launching of a new Arab project for manufacturing cotton which is the first of its kind in the Arab region.

Jordan Receives the First Shipment of the Iraqi Oil

Officials said on Friday that Jordan received the small shipment of the Iraqi oil according to an agreement signed a year ago for supplying the kingdom with 10.000 barrels a day of crude oil with preferential terms.

The International Monetary Fund Holds Talks in Turkey on the Fourth of October

The bureau of the Turkish Minister of Economy said that a team of the International Monetary Fund will hold talks in Turkey on the fourth of next October in the most modern review of its loaning program. It is worth mentioning that the talks will be resumed in Ankara on the 8th of the same month.

Dubai Stock Market Increases its Offers to Buy the Shares of OMX

Dubai Stock Market said yesterday that it increased the value of its financial offer to 265 Swedish Koruna per one share of OMX company. On the other hand, Nasdaq and Dubai stock market unified their efforts with the aim of setting up a long term strategy which would contribute in enhancing the position of OMX and north of Europe as well as the Baltic region.

The Privatization of "Alexandria for Containers"

Chairman of the Holding Company of Marinal and Land Transportation said that the privatization of "Alexandria for Exchanging Containers" company, affiliated by the holding company and business sector is a possibility in the plans of the government. It is worth mentioning that this company is among 45 companies which the government specified in all sectors to be enlisted within the program of privatization.

"Total" Defends its Investments in Iran

The French "Total" Oil Group said on Thursday that a possible agreement with Iran is still far away following the request of the French President Sarkozy to decrease its investment in Iran.

Small Indexes

- The appointment of the former French Minister of Finance Dominique Strauss-Kahn as a new Director of the International Monetary Fund has been confirmed in a voting of the administrative board of the fund yesterday.
- Oil and gas production in Russia has increased between January-August of 2007 compared to the same period of last year by 2.5% with a total of 326 million tons of oil and 0.9% of gas which equals 429 cubic meter of gas according to a report by the Russian Ministry of Economic Development and Trade.
- Chairman of the Russian "Rosoboronexport" Sergey Chemezov said that the volume of the Russian military exports might hit a record by the end of 2007 reaching $6 bn.
- The volume of the Egyptian exports to Spain has increased during the first half of this year by 25.7%. The total volume of non-oil exports has reached 258 million Euro compared to 205.3 million Euro.

Conferences

- The Commission of Stock Market and Financial Market will hold in cooperation with Damascus Financial Market the third conference of investment and financial markets between 2-3 of next December. The conference will be a real opportunity for presenting the policies and operations of the market and the role of financial markets in general in enhancing opportunities of investment.

Companies’ Indexes

- Kuwait National Bank said that it intends to expand in Saudi Arabia within its efforts to increase the contribution of the external operations in the profits by 25% within three-five years.
- A Press release by the Russian "Novatek" company, the biggest independent producer of gas in Russia said that it will launch exploration activities for hydrocarbons in the Egyptian territories and exploiting them.
- The Finnish company "Nokia", the biggest manufacturer of mobile phones in the world, has started selling a new mobile phone of high value designed in cooperation with "Ferrari" company in return for $25.400.
- "Toyota" company has managed to increase the volume of selling during August by 7.8% reaching 670838 cars, according to sources in the company located in Tokyo yesterday. Moreover, the production of the affiliated companies like "Daihatsu and Hino" has also risen by 6.9%.

Bids

- The Norwegian Oil Company "Bariosources", affiliated to the group "Acer" for Oil Services has concluded a deal for the management of oil wells with Tunisia for oil exploration in the two Tunisian "Dedeon and Zarat" fields.
- "Al-Zamel" air conditioners, one of the "Al-Zamel’s" sectors for Saudi industries, announced that it won a group of new projects for education, trade, industry sectors in the three main regions in Saudi Arabia with a total value of 62 million Saudi riyals.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on Voltairenet.org in Arabic and English. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English and French languages.