Turkey’s Nuclear Ambition

The nuclear energy is not a choice rather a necessity. Turkey is a strong state in this part of this world, and it might be also strong in the field of nuclear energy. These were the statements delivered by the Turkish Minister of Energy which aroused shocks in the mass media with regard to Turkey’s desire to acquire the nuclear energy motivated by its peaceful ambitions to face the expected shortage in the energy sources, without forgetting that the nuclear ambitions were among the priorities of the Turkish government announced by Rajab Tayeb Erdogan at the Turkish parliament following his election.
But will these ambitions remain motivated only by issues of energy and their peaceful use?, or is it out of worry and fear of the regional arm racing as well as detentions witnessed in the area, bearing in mind that Turkey’s nuclear ambitions, even if they are innocent, will cause more tension, violence and threaten peace and security in the region. But there is a fact that must be said which is that Turkey which has always had this nuclear dream since the 1960 has not had a strong government as well as strong economy that could fulfill this dream but today.

Oil Prices Reaches Almost $88, and the Gulf Revenue Increases

An economic report issued in Saudi Arabia expected the total oil revenues of the GCC countries to reach five trillion US dollars in the coming quarter of this century, at a time oil prices have jumped once again yesterday hitting a new record after exceeding the barrier of $88 per barrel in the electronic dealings at New York, Singapore, and London stock market.

Orascom Wins Contracts for Implementing Projects Estimated at $89 m in Algeria

The Egyptian Orascom Company has been granted construction contracts with a total value of $89 m by the Algerian Ministry of Housing and the Algerian-Emirati Tobacco Company "Steam". The company will build two new complexes for the international French school as well as a new national law colleague and also expanding the tobacco factory in Algeria.

22 Arab Countries Will Take Part in Arabia-Expo Exhibition

The Deputy Chairman of the Russian Chamber of Trade and Commerce George Petrov said that 22 Arab countries will take part in the first Arab exhibition to be held in Moscow next year. He further said that big commissions and private as well as public companies working in the fields of production, trade, and money will also take part from the Russian side. It is worth mentioning that the exhibition will be held in Moscow at the exhibitions center Crokos Expo between 22-24 of October 2008.

Expectations Say that Egypt Will Occupy An Advance Position in UNCTAD’s Report

The Egyptian Minister of Investment expected Egypt to occupy an advanced position in the record issued by UNCTAD organization affiliated to the UN with regard to attracting the direct foreign investment world wide to be announced by the organization tomorrow. He pointed out that Egypt has moved from position number 128 in 2004 to position Number 66 in 206 according to UNCTAD’s report.

The Dutch Shell Company Intends to Invest In Gas Field in Syria

The General Director of Shell-Syria company, Campel Care said that the company is looking forward to working in the gas field in Syria, expecting this sector to have a bright future. It is worth mentioning that Shell company has signed lately a contract for oil exploration with the Syrian Ministry of Petroleum at an area located near the Syrian-Iraqi borders, as well as in an area near the Syrian Jordanian borders.

Etisalat’s Profits Reaches 5.5 Billion Dirhams in One Year

The financial results announced yesterday by Etisalat Company showed the big growth rate in terms of profits achieved by the company during the first nine months of this year. The company gained net profits estimated at 5.534 billion dirhams compared to 4.4 billion dirhams gained during the same period of the last year with an increase of 26%.

A Contract with a Value of 310 Million Euros Between Iran and China

Iranian and Chinese officials signed yesterday at the Iranian company of developing water and energy sources a contract estimated at 310 million Euro for building a dam and Road Par Station in the Iranian Laristan governorate.

Small Indexes

- A statement issued yesterday by the Libyan oil establishment said that the German RWA group has achieved a new oil exploration with an average of production estimated at 393 barrels per day.
- The Algerian governor of the Central Bank said that the reserves of the exchange rate in Algeria have reached $90.96 bn by the end of June 2007 in return for $77.78 bn by the end of December 2006.
- Officials statement showed that the inflation percentage in Britain has settled below 2% which was targeted by England Central Bank in September compared to previous expectations of a slight increase of inflation.

Conferences & Exhibitions

- Al Emirat Islamic Bank, one of the most prominent Islamic Banks in the UAE will take part at Dubai exhibition City Skip 2007 to be held at Dubai International Trade Center for exhibiting "Manzele" (My House) program for financing housing.
- City exhibition has started at Dubai International Center for Exhibitions with the participation of more than 1000 international companies on a total space area of 70.000 square meters. It is the biggest number in terms of the investors, owners, developers in the real estate sector to take part in the exhibition amid expectations of attracting more than 45.000 visitors.

Companies Indexes

- The Turkish "Tofas" company said yesterday that it agreed with the Italian "Fiat" company to produce 120.000 light trade vehicles annually in Turkey dedicated mainly for export.
- Reports said that "Toyota" company seeks to increase the percentage of producing "Corolla" car during the coming year by 1.5 million cars with an increase of 20.000 cars compared to this year.
- "Philips" company announced that it achieved a rise in its selling by the end of the third quarter of this year by 7%, reaching 6.524 billion Euro as a result of a big growth great in the sector of consuming products and the main rising markets.

Bids & Contracts

- The Jordanian Phosphate Company has signed a memorandum of understanding with the Japanese "Mitsubishi" company for holding a joint project to produce and export phosphoric material at al Shedia area with a total cost of $300 m.

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.