Iran Attracts the Italian Businessmen

The economic meeting between Iran and Italy was held yesterday in the Italian capital Rome with the aim of making both sides acquainted with the aim of making both sides acquainted with opportunities of developing the economic cooperation between the two countries. Taking part in the meeting the Iranian ambassador to Italy, Abu al-Fadel Zahara Wand. He addressed more than 70 Italian businessmen and industrialists by saying that Iran enjoys a strong economy thanks to its big consuming market estimated at 70 million inhabitants, and with a GDP estimated at $230 bn, and with a volume of trade exchange estimated at more than $100 bn, let alone the fact that it has 15 neighboring Asian countries. Therefore, it is able to offer big job opportunities to the Italian businessmen and investors, especially in the infrastructure, industrial, and tourism fields, in addition to the presence of free zones of low fees. At the conclusion of their meeting, the Italian businessmen expressed their readiness to invest and take part in the industrial, trade sectors in Iran.

Al-Sharjja Bank Concludes its Electric Services First Phase

Al-Sharaq Islamic Bank has concluded the first preparatory phase of the project of the electronic and technological banking services via the internet aiming at developing its services in accordance with the international standards and addressing the increasing needs and demands of the dealers.

The Profits of “Abaar” Oil Company Reaches 475 million Dirhams

The profits of “Aba’ar” Investment Oil Company during the first quarter of this year have reached 457 million dirhams with an increase of 83% compared to the same period of 2006, which reached 250 million dirhams following the increase of the group’s production of oil as a result of its continuous activities in South Eastern of Asia.

The Third Syrian-Spanish Meeting to be Held Today

The Third Syrian-Spanish Meeting for Businessmen will be held today in Aleppo with participation of about 35 Spanish companies with the aim of encouraging and promoting cooperation between the Syrian and the Spanish companies. As well as helping the Syrian companies to be able to compete in the international markets and promote its goods. The two day meeting will discuss many issues like the trade relations between the two sides, renewable energy in Syria, the investment environment, the private banks, and the role of the small as well as medium seized projects in developing business sector in Syria.

OPEC Says that an Additional Increase of Oil Production is Unlikely

Chairman of OPEC, the Emarati Minister of Oil Mohammad Bin Zain al Hamele said yesterday that the increase of oil production by 500.000 barrels a day is unlikely. He further said that increasing the oil production once again will not have any positive effect on stabilizing the market.

The Palestinian Investment Fund Donates $250.000 for Thirty Establishments in al Quds

Within the framework of activating its social responsibility, the Palestinian Investment Fund has started to donate $250.000 for 30 establishments in al Quds working in the city and taking care of activating the social and cultural life in the city.

The Revenues of the Turkish Tourism Increase by 8.6%

The Turkish Institute of Statistics said that the revenues of tourism in Turkey have risen by 8.6% reaching $8.732 bn during the third quarter of the year compared to the same period of last year which reached $8.037 bn.

Small Indexes

- The volume of dealings in Dubai Financial Market has reached 2.9 billion dirhams, recording a jump of its index by 70.4 points closing by 5192.2 points.
- The Algerian Minister of Finance has presented the financial draft law of the Popular National Council. The draft law stipulates as increase of 19.3% in the expenditure budget.
- The German Concillor Anglla Merkel has warned of the failure of Doha’s talks for liberating world trade, and called for rapid start of talks to discuss this issue.

Companies’ Indexes

- The Thai Company “Acer” for Computers Industry said that it achieved profits estimated at $90 m during the third financial quarter of this year, with an increase of 58% compared to the same period of last year.
- A senior official at BP Company said on Monday that the company is looking forward to comeback to gas oil production sector in Qatar after an absence that lasted for fifteen years.
- The International Dubai Seaports intends to invest $500 m in India through the coming two years.
- The Saudi-Dutch Bank has witnessed a 8% decrease of its net profits during the first nine months of 2007 achieving 544.8 million riyals compared to the profits of the same period of 2006 which reached 662.8 million riyals.

Exhibitions

- The Ninth International Exhibition for Household Equipment and the Fifth International Exhibition of Audio-Visual Equipment was opened yesterday in the Iranian city of Mashad under the title “Pars Homex 2007”. 120 Iranian companies and other 30 foreign companies will take part in the exhibition.
- The Trade, Industrial, and Agricultural Chamber North of Hebron has organized an exhibition for agricultural products in cooperation with al Sanabel society for agricultural services and the German agency cooperation and development.
- The activities “The Exhibition of Seafood 2007” will be concluded today in Dubai. The exhibition is the first event of its kind in the Middle East specialized in seafood with the participation of 85 companies from 22 countries.

Bids

- The European Union approved on Tuesday on the Joint Project between the Japanese “Mistishubi Heavy Industries” company and the French “Areva” NP Company for producing thermal electricity generating units for nuclear energy stations.

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.