The French Companies in Iran
The economic scene in Iran is witnessing the participation of many big French companies like "Renault" company for cars manufacturing and the oil "Total" and "Gaz de France" companies. These companies have signed investment agreements estimated at billion of dollars with Iran, which is considered the fourth biggest countries worldwide in terms of oil export, and the second biggest country in terms of oil reserves in the world. What makes these companies worry is the political stands of the French government manifested through calling upon these companies not to conclude any deals with Iran, as France is currently the leading country that calls for imposing more sanctions on Iran due to its nuclear program.
Thus, these companies have only two choices: either two about abide by France’s political stand and as a result will lose more opportunities in the Iranian economic market, to adhere by their partnership agreements, thus remaining in the Iranian markets which these companies cannot ignore of its attractiveness, specially that it is the most profitable for them and for the French in general.
Palestine Stock Market Arouses the Interest
of Arab and European Investment Funds
Dealings at Palestine Stock Market dropped last week following weeks of good performance. The daily average of dealings has dropped by $4.34 m compared to $10.52 m of last week. Despite this drop, the average of dealings is till high compared to the volume of the weekly dealings during the last two years as a result of the continuation of Purchasing activities by local and foreign banks specially the British ones for the fourth week consecutively.
"Al-Mashreq Al-Arabi " Insurance Company Concludes
a Contract for Building Sanitary Plants in Syria
"Al-Mashreq Al-Arabi " Insurance Company – Syria has concluded a contract for building 23 sanitary plants and another 15 plants for water purification with a total cost of 60 million Euro with the Malaysian Company group: "Renexos and Aida" companies.
"MTC’s Shares" Exceeds 52% of Mobile Phones
Subscribers in Lebanon
The General Director of "MTC Touch" Mohammd Shbeib said that the company has occupied the leading position in the sector of mobile telecommunications in Lebanon, pointing out that that the share of the company in the Lebanese market of telecommunications has exceeded 52%.
Half a Billion Euro, the Value of Financial Aids
by the European Commission to the Palestinians
The European Commission announced that the total value of money allocated by the European countries and other donors for the interim international mechanism for helping the Palestinian people has exceeded half a billion Euro, the biggest percentage of which was granted by the European commission.
America Ranks Number 2 Following China
in Attracting Foreign Investments
Statements issued by "ONCTAD" showed that China and India have occupied the first two positions in terms of the countries that most attract the direct external investments, adding that the US came third behind China and India, whereas Britain, Germany, France, Brazil, and Mexico were among the first ten countries.
An Acquisition Deal by "Vodafone" Group Estimated at $1.1 bn
"Vodafone" group, the biggest international company specialized in the services of mobile phones, said that it approved on buying units affiliated by "Tele 2 AB" company in Italy and Spain with a total cost of 775 million Euro ($1.1 bn).
"Total" Says that It will not Withdraw from Myanmar
The General Director of the French Oil Complex "Total" said that his country will not withdraw from Myanmar, the country which was targeted by economic sanctions for political reasons, adding that the investments of his complex go back to the 1990s of the last century.
"Abu Dhabi Investment House" and "Sorooh" Companies Conclude
the First Phase of "Tilal al Ghroub" Project
"Abu Dhabi Investment House" and "Sorooh Investment Company" , the two companies implementing the project of the developmental "Tilal al Ghroub" project said that the first and second phases of the activities of the infrastructure of the project, within the framework of implementing "Al-Areen" project with a total cost of $1.3 bn have ended.
Two Malaysian Companies Build 30.000 Housing Units in Iran
The Iranian Ministry of Housing and Cities said on Saturday that two agreements were signed with two Malaysian companies for building 30.000 housing units in Iran.
The Russian Minister of Economic Development said that the average of inflation will not exceed 8% in 2007. For its part, a senior analyst at "Deutsche Bank" said that it was difficult to preserve inflation average with less than 9% in Russia.
The average of the Saudi inflation has reached its highest levels ever in seven years reaching 4.4% last August due to the big increase of renting prices.
An economic expert estimated the volume of selling perfume market and cosmetics in the "GCC" countries by 15 billion Saudi riyal annually.
The Moroccan Electricity Establishment has gained revenues estimated at $1.113 bin during the first seven months of this year with an increase of 13% compared to the same period of last year.
The governmental "Dubai Center for Multi Goods" in Emirates said that it signed a memorandum of understanding with the Union of Manufacturers of precious stones in Hong Kong with the aim of enhancing the trade relations in the sector of precious stones and pearls.
The Saudi Insurance Cooperative Company has gained net profits of estimated at $27.5 m in the third quarter of this year with a drop of 1.3% compared to the same period of last year.
Exhibitions & Conferences
The Iraqi "Rouea" company for public relations and mass media will hold the Iraqi trade and industrial meeting in Bahrain, which is considered the first of its kind. 28 Iraqi ministries represented by official delegations and decision makers, in addition to more than 1250 businessmen and a number of international organizations and the sponsoring companies of this event from different countries will take part in this meeting.
Bids & Contracts
The German "Audi" Company for Cars Manufacturing asserted that it intends to invest 10 billion Euros till 2012 for developing and producing new models of "Audi" cars.
"Dana Gas" company, located in the UAE, said that it solid Islamic bonds that can be transformed with a total value of $875 m.
The Islamic Bank for Development has signed a financing agreement with the Moroccan National Electricity Establishment, according to which the bank will offer 137 million Euros for financing the projects of gas generators station in al Mohamadia city in Morocco.
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.