The Biological Fuel, a Murder to Humanity

In a world where there are 854 million hungry human being, and where a child under the age of ten dies every five seconds because of hunger, calls for producing biological fuel through agricultural crops are being said. Jean Ziegler, The Official at the UN who is in Charge of the File of the Right to have Food, says that transforming the crops into fuel (is a crime to humanity).
Ziegler said that the biological fuel increases food stuff prices, calling for stopping the activities of producing biological fuel for five years.
Ziegler, the independent expert who presents his reports to the committee of the UN for Human Rights, admitted that his call will be difficult to be carried out, but he said that as long as the main countries that lead the revolution of the biological fuel (The US and Brazil) are democratic countries. Then the public opinion will cause a change in the policies of these countries.
He added that postponing the production of the biological fuel will give the Semitists an opportunity for developing means for producing biological fuel through other crops without producing other crops.
He further said that “Ra’aed” (Pioneer) project in India is an example of that in the sense that it uses the planted trees in arid areas which are not suitable for planting food stuff crops.
FAO took a firm position towards the issue of producing biological fuel and warned against the increase of goods prices, but at the same time it said that biological fuel might be a chance for the developed countries, and it might provide energy at poor areas that need electricity badly.

The Increase of the Profits of the Arab Bank by $753.4 m

Al-Arabi Bank Group announced its financial results for the last nine months by the end of September 2007. The results showed an increase of profits before cutting taxes and allocations reaching $753.4 m opposite to $663.2 m of the same period of last year, with an increase of 13.6%. The total value of the net profits of the group after cutting taxes and allocations has reached $572.0 m opposite to $494.9 m of the same period of last year with an increase of 15.6% which shows the strong performance of the bank and its continuous success in achieving the best results.

A Syrian-Venezuelan-Iranian Partnership Agreement for Building an Oil Refinery

Syria, Iran, and Venezuela will signed today a partnership agreement for building an oil refinery with a total capacity production of 140.000 barrels a day in al Furqlos area east of Homs city in the middle of Syria. It is worth mentioning that the building of this refinery will take three years.

The Meeting of Businesswomen in the Field of Business Administration and Investment Held in Syria

The Committee of Businesswomen at Damascus Chamber of Trade Organized on Sunday a meeting to discuss issues related to the Syrian businesswomen and their relations with investment and administrative development under the title (Women at Business Administration and Investment).

About 150 participants of big businesswomen from Yemen, Libya, Jordan, Palestine, Bahrain, the UAE, Tunisia, Lebanon, Iran, India, Canada, South of Africa and Syria took part in the meeting.

Italy Grants Iraq a Loan of $600 Million

The Iraqi Ministry of Finance has revealed lately that an agreement for granting a loan of $600 m from Italy to Iraq has been signed lately. A statement issued by the Iraqi Ministry of Finance said that the Italian Industrial and Agricultural equipment have been provided for supporting the small sized agricultural and industrial projects in Iraq with the aim of contributing in promoting these projects to combat unemployment. The period of paying the loan is 40 years.

Qatar National Bank Increases its Capital

The abnormal General Assembly of Qatar National Bank has agreed on increasing the bank’s capital on the light of the expansions of the bank in the region. The increase will be carried out through two stages: the first will be in the last quarter of 2007 and the second in the second quarter of 2008.

The Iranian Companies Seek to Enhance their Presence in Afghanistan

Iran held yesterday its second exhibition dedicated for its companies’ products in the field of Dentistry equipment, chemical and agricultural materials, food stuff, cosmetics, mass media and scientific as well as educational books at the Afghani Harat province.
Products by Iranian businessmen were also exhibited at the exhibition.

Kuwait National Bank Acquires 93.77% of the Egyptian National Bank

Kuwait National Bank announced yesterday that it acquired a share estimated at 93.77% of the shares of the Egyptian National Bank which equals 70.327.903 shares. It is worth mentioning that the Egyptian National Bank has 22 branches distributed in a number of the Egyptian cities with a total value of assets of about $2 bn.

Small Indexes

 A Syrian delegation comprising 200 businessmen of industrialists and investors will go to the Turkish Mercin city between 11-13 of November upon an invitation by the Turkish Ministry of External Trade for holding the first establishing meeting of the Syrian-Turkish Partnership Council.
 Thousands of South Asian construction workers carried out a strike last Sunday in Dubai due to the hard labor circumstances.

Companies’ Indexes

 The Saudi National Company for Aviation Services “Nas” intends to grant loans of $4 bn during the coming five years for financing buying planes some of them manufactured by the European airbus company.
 The International Dubai Seaports intends to invest $500 m in India during the coming two years for developing the infrastructure in this country located south of Asia including the railways and roads.


 The Third Syrian-Spanish Meeting of Businessmen will be held in Aleppo city tomorrow with the aim of supporting the program of the small sized and medium sized companies. The meeting is organized by Aleppo Chamber of Trade in cooperation with the Syrian-Spanish Chamber of Trade.
 Egypt is due to host the activities of the conference of (Solution Expo 2007) which exhibits the latest on world technology in the field of electronics industry and designing electronic systems. The conference is held in Egypt for the 8th time.
 The First International Meeting under the title “The Persian Gulf, the Marinal Silk Road” will be held in 29th of next November in Tehran. Representative of 53 European, Asian, African, American businessmen and economic activists will take part in the meeting.


 The Indian Minister of Oil said that his country is considering forming investments and concluding contracts in Qatar to address the local demand which is witnessing a rapid growth.

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.