Before Gaza’s Factories Go Into Oblivion

"All factories in Gaza’s industrial zone have closed completely, and no factory is able any more to continue its work".
This is what Wadee al Masri, the General Director of Developing the industrial zones company in Palestine "Bedeko" said.
The 40 factories have been closed gradually since last September, and the reason is the Israeli embargo, as closing al Mintar cross point for four months was enough to close all Gaza’s factories.
Within this context, it seems that the banks will also close its doors taking the steps of the factories which will force the owners of these factories to look for another job. The hopes of these honor have been in vain in returning to their jobs and factories, amid the absence of a futuristic vision and perspective for reaching a solution for this economic crisis resulted from the closing of all crossing points.
In case no solution was reached, then what we are waiting for is the big disaster.

A License Granted for a Joint Stock Corporation for Investing the Tourist Facilitates in Syria

A new joint stock corporation has been granted the license under the name "Interhome" Joint Stock Corporation with a total capital of $15 m with the aim of investing the tourist facilities in Syria, and building as well as investing restaurants, cafes and swimming pools in addition to building and investing trade centers.

Iraq Grants International Companies Contracts for Building and Rehabilitating Electricity Stations

An official at the Iraqi Ministry of Electricity said that two contracts have been concluded with two British companies for rehabilitating al-Hala Gas station and developing "Al Bazrakan Station in Al Amara City".
Moreover, the two satiations of al-Dubs and al-Dora gas stations will be rehabilitated by an Italian company with a total cost of $70.5 million.

Investments of the Saudi "Getway" Fund for Shares Increases by 7%

"Shoua’a" company for the management of assets, one of the arms of the mother company "Shoua’a" capital, the leading establishment in the field of banking investment in the region, said that the initial launching phase for the Saudi Getway fund of shares was successful. It is worth mentioning that this fund targets the long term investments in the Saudi shares market.

$189 m, the Total Value of Exports of the Real Estate Al-Daleel Complex in 9 Months

The total value of exports of the real estate-industrial al Daleel Complex has reached since the beginning of this year till last September $189 m compared to $178 m of the same period of last year, recording an increase of 6%, and all these exports are ready made clothes that are exported to the United States, according to a press release published by the Jordanian al Ghad newspaper.

Iran Increases its Oil Production by Four Million Barrels a Day

Reuters news agency quoted an Iranian senior official has saying yesterday that Iran will increase its oil production by more than four million barrels a day starting from next November following an agreement with OPEC.

The Turkish Industrial Production Increases by 6.1% in August

The Turkish Institute of Statistics has revealed that the industrial production in the country has risen by 6.1% in August compared to the same period of last year. The institute added that the mining sector has achieved a considerable growth rate of production in August by 14.8% compared to the same period, followed by the facilities sector which recorded a growth rate of 8.6%. Moreover the sector of transformational industries has recorded an increase of 5.2% compared to the same period of last year.

Turkish Reforms that Target Improving the Atmosphere of Investment and Increase of Production

The Turkish Deputy Prime Minister said that his government will back and support the balance of the current dealings as well as the interests prices vis-à-vis deposits and investments and decreasing the general debt to its lowest level during the five coming yeas.

Estimates of Producing 8000 Tons of the Palestinian Olive Oil

The Palestinian Al-Ayam newspaper quoted experts as saying that they expect the total volume of olive oil production in Palestine for their year to reach about 8000 tons. The Palestinian Agricultural Engineer Fares al Jabi said that this drop of production is due to the bad weather which prevailed in Palestine during the season.

Small Indexes

- The Chinese Ministry of Information Industry said that the country’s income of software industry has reached $45.73 bn during the first 8 months of 2007, with an increase of 22.9% compared to the same period of 2006, adding that China is currently acquiring 6% of the international market of software.
- The Egyptian Minister of Finance Dr. Yousef Boutros Ghali said that the Egyptian economy will achieve great development within three years due to the increase of wages and combating poverty through science and good planning.
- The volume of the direct foreign investments in Egypt has risen from $450 m to $11 bn annually.
- The Russian Deputy Prime Minister said that the foreign investments in the Russian economy have reached $50 bn in 2007 despite the crisis in the western financial markets.
- Young woman aged 26 whose working in the field of real estate development came first on the list of the richest person in China with a wealth estimated at $16 bn, according to the American Forbs Magazines.

Companies’ Indexes

- The Kuwaiti Financing House said on Tuesday that it had been granted the approval of the Central Bank in Malaysia to go ahead in its talks to buy 35 branches of RHB Bankm the fourth biggest bank in Malaysia.
- The Saudi-French bank has gained net profits estimated at 2.071 billion riyals during the first nine month of this year in return for 2.425 billion riyals with a drop of 14.6% compared to the same period of 2006.
- An official from Belrussia said that his country will send a high ranking delegation to Moscow this week for discussing gas prices in 2008 and ensuring a smooth transition of the Russian Gas to Europe.
- Al-Bahrain Central Bank has gained net profits during the third quarter of this year estimated at $29.43 with an increase of 8.7% compared to the same period of last year.

Bids & Contracts

- The Kuwaiti stock market said that the investment "Masharee al-Kuwait" (Kuwait’s Projects) company for the management of assets (Kamko) said that it increased its share in the housing financing company for real estate financing from 5.32% to 9.32%.
- Marzouk al Rashdan, Deputy Chairman of the Real Estate "Abiyar" company located in Kuwait said that he company is studying selling Islamic bonds with a total value of $1 bn next year for financing two projects one of them in Dubai.

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.