When We Know the Reason …

The local administration in Kurdistan said that it signed oil contracts with four foreign companies, in a step which aroused controversy with the central government in Iraq and the USA alike, especially that the two parties urged the Kurds not to hold talks till gas and oil law was adopted, but the administration of Kurdistan-al-Iraq, which almost enjoys a self-governing status, gave signs that it will go forward in investing the available oil reserves without waiting for a national consensus about this issue. Taking into consideration the pressures exercise by the US for adopting the "oil law" which organizes, according to its claims, the foreign investments in the Iraqi energy sector, then the announcement made by the administration of Kurdistan about the winning of two companies, the first one is French and the second is Canadian (i.e. Non-American Companies), of contracts for oil investments in the province, indicates without any doubt the reason behind the American claim that calls for justice in relation to dividing the Iraqi oil wealth.

The Establishment of "Louloa’ – Damascus" Company

The Syrian Ministry of Transportation has prepared a draft law with regard to the establishment of a joint cooperation between the Syrian Airlines Establishment and the holding "al-Cham" Company, al Aqeela Company for renting and financing, as well as investing, "Afesh Holding Company", and the group of the investment "Dashti Sons" group by the name "Louloa’" Syria according to the regulations of the Syrian trade law.

Syria and Iran Sign an Initial Agreement for Exporting the Iranian Gas to Syria

Syrian and Iran have signed an initial agreement stipulating of exporting two million cubic meters of the Iranian gas annually to Syria via Turkey. Deputy Iranian Minister of Oil said that the Iranian Natural Gas will be ready for exporting starting from 2009.

Iraq Pumps 600.000 Barrels Daily of Kirkuk Crude Oil to Turkey

A source at the Industry of Marinal Shipment said that Iraq pumps about 600.000 barrels daily of Kirkuk crude oil to Turkey, pointing out that the pump continues with an average of 25.000 barrels per hour or between 500.000-600.000 barrels daily.

"Musharraf" Company Increases its Capital by 100%

"Musharraf" Company for Trade and Contracting said that it has achieved an increase of its capital by 100% and acquired a number of the Emirati companies, as "Mashree al Kuwait" "Kuwait’s Projects" investment company for the management of the assets "Kanko" played the part of the exclusive financial councilor of the company.

"Rosal" Company Studies the Possibility of Building Factories in the Middle East

The Russian Aluminum Company "Rosal" said that it was studying the possibility of building aluminum factories in the Middle East and North of Africa. It is worth mentioning that "Rosal" Company occupies a leading position in aluminum industry, through exporting its products to 70 countries all over the world. The company controls about 12% of the international market of aluminum and has activities in 19 countries in the five continents.

The Tunisian Economic Growth Rate Reaches 6.2% During the Second Quarter

The National Institute for Statistics in Tunisia said that the economic growth rate of the country has recorded an average of 6.2% during the second quarter of 2007 compared to 5.5% during the same period of last year.

Small Indexes

- The Iraqi cabinet has decided to allocate $15 m for Syria, $8 m for Jordan, and $2 m for Lebanon with the aim of expending them on the Iraqi refugees in those countries.
- Statements issued by Reuters said that Britain, the US, and Sweden are the biggest countries in terms of attracting investments by $80 bn from the Middle East during the first nine months of this year, whereas Qatar was ranked among the biggest investors.
- The Libyan Foreign Minister said that his country seeks to enter the market of the US and invest in its stock market in an attempt to improve the relations with the superpower.
- Lebanon and the US have signed in Beirut a number of agricultural and economic contracts as well as projects in support of the Lebanese economy. The US will offer Lebanon a donation of the American wheat estimated at 25.000 tons.

Companies’ Indexes

- The International Dubai Group announced that it entered in a partnership with "One and Only Company" for Developing and Managing its New Luxurious Resorts with a total cost of $150 m in Zanzibar due to be opened in 2009.
- After nine years of adopting the name "Daimler Chrysler", the company has chosen a new name following selling most of the shares of the American "Chrysler" company.
- "Maser al Jadeda" company for Housing and Construction said that the company’s net profits have jumped by 56% making the biggest annual profit ever.

Conferences & Exhibitions

- The French Embassy in Riyadh revealed on Tuesday that the first exhibition specialized in the technology of information will be opened in Four Seasons Hotel in al Riyadh between 24-26 of November under the title: "The Days of the French Technology-2007 JTF".
- The meeting of "The Prospects of Public Relations" will hold its third session in the Saudi Jeddeh city between 27-28 of November, aiming at developing the skills of public relations through reviewing studies and holding seminars.
- The meeting will be organized by the Arab company for Holding Conferences "ARC" in cooperation with the international society for public relations-the Gulf branch.

Contracts

- The Finnish "Comtel" company for telecommunications programs said that it won a deal by the Egyptian holding Orascom Telecom Company for providing the technology of the services of mobile phones.
- Libya signed yesterday a number of contracts estimated at 956 million dinars for implementing 69 projects aiming at building 9557 housing units in the different governorates of the country.
- "Miersick Contractors", which is an affiliated unit by the Danish "Muller Miersick" group for shipment and oil, said that it won a contract for exploring oil for three years by Dubai Oil Company.

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.