The Map of the International Investments Changes

"The International Investment Map has changed due to the international economic developments, the most important of which is oil prices". This is what Mr. Hamad al-Qadi, the international expert in the field of the agreements of the international investment for trade and development in UNCTAD. According to al-Qadi, the increase of oil prices has pushed towards investment in oil industries on the account of investing in other sectors.
Mr. al Qadi called for making the experience of free zones a general one because of its pivotal role in attracting the foreign investments, as well as pay more interest to the agreements that protect the mutual investments, adding that the bilateral agreements are not enough to organize the movement and protecting investments, rather this necessities making an international agreement for promoting and protecting investments in a similar way to the international trade agreement which organizes the affairs of trade all over the world.
He further pointed out that this trend is being discussed in the circles of the international organizations but it was not dealt with seriously by countries and economic communities, Mr. Al-Qadi also said that the map of the international investments has changed in a way that we have many bilateral investments in the countries of the south or on the level of regions like the bilateral investments in South America as well as Asian and Arab investments.

"Al-Ola’a" Company is Being Granted the License for Financial Investments in Syria

The Council of the Commissionaires of the Syrian Financial Market has approved on granting the initial approval for the Establishment of "Al-Ola’a" company for financial investment with a capital estimated at $3 m for providing financial conciliations and analyzing as well as publishing information related to banknotes.

Syria Express Its Readiness to Open a Trade Consulate for the Turkish Cypriots

Al-Sharq al-Awsat news agency quoted the Turkish Millet newspaper as saying that the Syrian authorities have expressed its readiness to open a trade and tourist consulate of the Turkish Republic of North of Cyprus recognized by Turkey, according to Turkish diplomatic sources.

The Increase of "Tamweel" Company’s Profits by 244 million Dirhams

"Tamweel" company published yesterday its financial results for the third quarter of 2007. Mr. Khalid Bin Zaied Bin Saker al Nahayan, Chairman of the Administrative Board of "Tamweel" company said that the net profits of his company during the first nine months of 2007 have risen to 244 million dirhams with an increase of 147% compared to the profits of the same period of 2006 estimated at 99 million dirhams.

Emirat’s Revenues of Non-Oil Products Double

The International Monetary Fund said that the reverences of the UAE in sectors other than energy sector might double during the coming five years to reach $49 bn, due to the profits gained by Emirates through its investments in industries ranging between real estates and financial services.

The Construction of the First Factory for Producing Biological Fuel in Russia

Russia will start building the first factor for producing biological fuel in "Tataristan" province, which is supposed to transform about 1 million ton of wheat to fuel for cars annually.

The Egyptian "Orasom" for Construction Builds the First Station of Solar System in Egypt

"Orascom" company for Construction and Industry the biggest Egyptian construction company in terms of market value, said it is ready to build the biggest station of solar energy in the region with a total cost of 6.4 million Egyptian pounds.
A statement issued by the company and published by Reuters said that the station will have a capacity production of 140 megawatt. It is worth mentioning that station will be built in "al Kriyamat" area south of Cairo during 30 months.

Small Indexes

- The Syrian Ministry of Finance has issued a law stipulating the system of institutional governing in the Syrian Insurance Companies.
- The volume of dealings of shares by mediators in the Jordanian stock market since the beginning of this year till last Thursday has reached about 19.1 million dinars, whereas the volume of dealings by bonds has reached 6.4 million dinars.
- The Jordanian Insurance Installments have risen during the first 9 months of this year by 12% reaching about 225.1 million dinars compared to 200.5 million dinars during the same period of 2006.
- The Brazilian President Da Silva said that talks of al Doha Round for International Trade are still facing obstacles, adding reaching an agreement is possible by the end of this year.

Companies’ Indexes

- The General Commission of the Jordanian Industrial Development Bank has agreed in its non-normal meeting to increase the capital of the bank to reach 50 million dinars instead of 24 million dinars. It also authorized the board of administration to submit an application to the Central Bank with the aim of granting it a license to become an Islamic Bank.
- Saied Mohammad, the First Deputy of the Chairman for the Affairs of Importing and Logistics in the Emirates Airlines has revealed that the company is in need of 4.1 million dirhams for covering the increase growth of importing and supply activities estimated at about 20% annually.
- "Toyota" company said on Monday that it sold 2.34 million cars around the world during the third quarter of its financial year, becoming on the same foot with General Motors Company which sold 2.38 million cars all over the world during the third quarter of the year.
- "Riyada Capital" Investment Company, located in Kuwait, said that it will launch the fund of "Tahawat" which abides by the Islamic Sharia in an attempt to combine between the great demand on the Islamic investments and the revenues of "al Tahawot’s" funds.

Bids

- Kuwait said that it had reached an initial agreement with "Axon" mobile company for producing heavy crude oil north of the country, adding that it aims at reaching a production capacity by 900.000 barrels daily by 2020.
- The Kuwaiti Mobile Telecommunications Company "Zain" said that it will buy a telecommunication company in Ghana in return for $120 m.

Conferences

- The Algerian company for Insurance and Re-Insurance is due to organize today an international meeting on insurance in the sector of railways transportation, according to a statement issued by the 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.