Once again, he says What He Does Not Know

Once again, the speech delivered by Bush has aroused the discontent of those who oppose him, his following his refusal of any biding restrictions on carbon emission during the meeting of the big 16 countries at a forum on environment in Washington. Bush, who admitted that the security of energy and the climate change are the two main dangers, said that his country wants to work with the U.N. with the aim of reaching a long term goal about the problem. He suggested the establishment of a new monetary fund by the U.S., Japan, and Europe to transform technology to the developed countries, but some of the participating countries in the forum expressed his worry over what they described as a fabrication in Bush’s speech.
One of the members described the speech as "containing a number of mysteries", expressing his great astonishment about Bush’s claim that he will lead the campaign of climate change, but at the same time he does not agree on a biding decrease of carbon emission. Another member wondered by saying: "Bush said that he will lead the campaign of transforming the technology, but he demands the other countries to contribute in paying for funds specifically for that purpose, without saying how much he will pay. He ended by saying: "Indeed, it is a shame".

$8.4 Billion, the Total Value of the Petrochemical Products in Iran

The Iranian Ministry of Oil expected the value of the petrochemical products in Iran to reach $8.4 bn by the end of this year. A statement issued by the Iranian national company for Petrochemicals Industries and published today said that five billion US dollars of this figure will be the value of the exported petrochemical products and $3.4 bn will be the value of selling these products inside the country.

India Asserts its Partnership in Building the Iranian Gas Pipeline

Iranian Deputy Minister of Oil and Gas said that his country is a member of the countries that will take part in the project of laying the Iranian gas pipeline to Pakistan and India, pointing out that India is a part of these project and it will continue talks to import gas from Iran through the Iranian gas pipeline.

"Anboba" Company Establishes a Syrian Company in the Field of Chemical Industries

The Syrian Commission of Investment has issued a law granting the establishment of a joint stock cooperation by the name "Anboba" company for chemicals industries for producing the basic chemical raw materials used in painting industry with a total capital of 100 million Syrian pounds distributed among 200.000 shares with a value of 500 Syrian pounds for each share.

Gulf Capital Acquires "Gulf Marine Company"

Gulf Capital Company said that it acquired with other investors the remaining 50% of the shares of the Gulf marine services GMS for marinal platforms and the ships of support working in the UAE.

Preparations for Building a Huge Trade Center in Casablanca

Al-Maghrib al Arabi news agency said that the biggest trade center in North of Africa will be built in Casablanca with total cost of 200 million Euro and financed by a group of companies comprising the two Spanish companies: Aksal and Indetex.

Erdogan says :Turkey will Continue Cooperation with Iran in Energy Field

The Turkish Prime Minister Racep Tayeb Erdogan said that his country will continue cooperation with Iran in the field of energy, saying it Iran and Turkey are preparing to sign an agreement in oil and gas sector.

"Jawaher Group" Seeks to Build an Oil Refinery in Turkey.

An official at the Turkish Council of Energy said that the Turkish "Jawaher Group" has submitted an admission for granting it the approval for building an oil refinery with an annual total capacity estimated at 10 million tons South of Turkey.

Goods in Ramadan are Accumulated in Gaza and Prices are Still on Rise

The Palestinian Society for Protecting a Consumer in Gaza Strip asserted that goods have been accumulated in the Palestinian markets due to the decrease of incomes and the ability to buy such goods and specially the food stuff , taking into consideration the low level of incomes and the spread of unemployment.

Small Indexes

- Japan has started a long term process for privatizing the post sector run by the state.
- The Russian Minister of Natural Resources Yuri Trutnev said that investing the natural resources of the series of Lomonosov mountain in the north Arctic will grant Russia five billion tons of fuels.
- Some estimates point out that the total volume of what business woman in Saudi Arabia has exceeded 45 billion riyals in the banks.
- The Russian Minister of Agriculture Aleksey Gordeyev said that Russia is ready to export about 12 million tons of cereals.
- The foreign assets at the Bahraini Central Bank have jumped by 41.9%, reaching 1.18 billion dinars which is the highest level ever in ten years.

Companies’ Indexes

- The Swiss Giant Bank UBS announced that its losses have reached $3.4 bn due to the insurance crisis resulted from the crises of real estate loans of high dangers, thus becoming one of the biggest losers all over the world.
- The Kuwaiti National Petroleum Company said that Kuwait has approved a budget estimated at $14.29 bn for building the biggest oil refinery in the Middle East with the double of the original estimation of the costs.
- Prices of the shares of "Al Jarafat al Bahria" company have dropped at Emarat stock markets closing by 5.2% dirhams, with a loss of 3.53%.

Conferences

- Abu Dhabi is due to host the activities of the forum of women international economic next November under the Moto: "Women are Active Partners in the Process of Development", with the participation of 850 participants from the Gulf states , the Arab and Islamic countries, and world countries representing all economic activities.

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.