The Corruption of the Israeli Authority

40% of the survey made said that the Israeli authority is highly corrupted, but it is not the only percentage which the Israeli mass media has resorted to come out by the result of double standards. The most shocking for the mass media was the percentage of the 69% which sees that the corruption of the Israeli authority is very high. These statements were issued by Sderot Conference for Social and Economic Policy. The results of the survey caused a lot of worry for the Israelis, as the average was more than 1.5% compares to last year. The corruption is not restricted to individuals, but also it has to do with the political parties which were corrupted by 59%, preserving the first position which they had in 2006.
General Uzi Dayan, the founder of Sderot Conference said that the average of corrupt in proves the authority’s corruption is the first enemy for the Israelis, because corruption is not a crime without victims.

The Iraqi Ministry of Oil Intends to Build an Oil Refinery in al Naseria

The Iraqi Minister of Oil has revealed a plan for building a refinery in al Naseria with a total capacity of production of 14 million litres of petrol daily; pointing out that in case this project was carried out, then petrol will be available all over the world.

The Profits of Al-Arabia Airlines Exceed 165 million dirhams

The net profits of Al-Arabia Airlines Company during the third quarter of this year which ended on the 30th of September 2007 have risen by 244% reaching 165 million dirhams compared to 48 million dirhams during the third quarter of 2006.

Sabic Will Invest 110 billion Riyals

The Saudi Company for Basic Industries “Sabic” has revealed a new investment plan for the coming three years with a total value of 110 billion riyals “$29.34 bn”. The company said in a statement issued by al-Hayat newspaper that these investments include building new petrol chemicals factory in Yanbu for producing four million tons annually of Ethylene, polyethylene and other products starting by the end of 2058.

The Decrease of the Profits of City Group

City Group has decreased its profits in the third quarter of this year following the resignation of the chairman of the Administrative Board and the Executive Chairman Charles Prince, along with the increase of the losses of the American Bank in Real Estate Mortgages and other banknotes of high dangers.

Turkey Wants to have One Company of Energy

Head of the Turkish Oil Establishment said that Turkish officials want to integrate the two biggest energy companies in the country, i.e. Potasch and the Turkish oil establishment with the aim of holding a bigger energy company in Turkey.

Small Indexes

- The Saudi capital al Riyadh is due to host the third summit of the head countries of oil production between 17-18 of November, according to the Algerian Minister of Energy.
- The total Jordanian insurance installments have risen by the end of September reaching 225.1 million dinars compared to 200.5 million dinars during the same period of last year with an increase of 12%.
- The results of the survey of labor and unemployment in Jordan have shown that the unemployment average has reached 14.3% for male and 31% for female.

Companies’ Indexes

- The holding Dubai company owned by the governor of Dubai Emirate said that it has been granted a loan of $1.26 bn from Morgan Stanley Investment Bank for Financing Buying a share in an American deposit fund.
- The Irish Rayan Air Company said that it has recorded an increase of its profits by 23% before cutting the taxes during the six month which ended in September reaching 459.5 million Euros.

Bids, Contracts Exhibitions

- The Islamic al Baraka Bank, one of the branches of the banking al Baraka group located in Bahrain, announced that the Indian Cotak Fund is being under subscription through the branches of the trade bank in Bahrain.
- Chairman of the Russian Atom Story Export Serge Shamatko and the General Director of the Chinese Jiangsui for Atomic Energy, Jiagn Jiwan have signed an initial agreement on building the second phase of Tyan Wan station in China.

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.