A New Global Economic Class

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The founder of the Economic Policy Institute in New Jersey and its former head, Jeff Faux in his book entitled: The Global Class War, talks about a limitless global market produced by globalization, and also about a global class system which is also limitless, where the interests of all of its members from all over the world are preserved and met. He goes on by saying: “perhaps the transformation of the national elite in every country into a globalized class explains better the policy of the new globalised economy”. He further says that exercising collective pressures by the big companies on decision makers in the world has become evident more than ever, but they are successful ones more than ever too, even they had been granted an “ethical” legitimacy like the global economic forum and the centre of world Agenda affiliated by it, in addition to other business coalition like the International Bank and the World Trade Organization.
One of the researches likened the adopted economic policies in today’s world to the system of one party which is “Davos Party”, because its political programme aims at enforcing the centre of the corporal capitalism, and also by the class of the crossing investors of the countries and the continents.

$1 bn and 325 million, the Volume of Lebanon’s Industrial Exports in Seven Months

Statistics issued by the Lebanese Custom House Directorate showed that the volume of the industrial exports have increased to $1 bn and 325 million dollars during the first seven months of this year opposite to $981 million during the same period of last year which represents a percentage of 35%.

250.000 tons of Wheat from Syria to Palestine

The Palestinian Minister of Economy Kamal Hasouna said that his government is holding communications to import 250.000 tons of wheat from Syria with a preferential price in an attempt to limit the effects of the increase of wheat prices world wide on prices in the Palestinian territories.

A Company for Paper Industry by an Egyptian Kuwaiti Capital

The Arab Company for Ceramic “Arasmico” and the Group of Mousaed al Saleh Company announced that they will take part in the capital of the Egyptian company for Paper Industry “Egy Paper” to be established with a share of 60% of the total capital estimated at 40 million Egyptian pounds.

The Arab Bank for Development Grants Botswana a Loan of $10 m

The Arab Bank for Economic Development in Africa has approved on granting Botswana a loan of $10 m dedicated for the project of developing the international Ser Seritisie Airport. The project would contribute in developing the sector of aviation transportation in Botswana and the growth of its economy specially in industry, mining, and tourism sectors.

Iran Expresses its Readiness to Cooperate with the Asian Countries in the Field of Energy

Iranian Deputy of Foreign Ministry Ali Rida al Sheikh Attar said during the second conference of the international economic forum held in China that his country is ready to enhance the economic cooperation with the Asian countries and specially in the field of energy.

The Increase of the Turkish Industrial Production by 2.2% in September

The Turkish Institute of Statistics said that the industrial production in Turkey has recorded an annual increase of 2.2% in September. The increase was less than expected according to a survey made by Reuter’s agency with an increase of growth rate of 4.1%.

Small Indexes

- The volume of the Iranian non-oil goods during the last Seven month of this year has reached $7 billion according to the General Secretariat of the Higher Council of Non-Oil Exports in Iran.
- An economic report showed that the Canadian exports to China have increased by 43% during the first half of 2007.
- Chief of Experts at the International Bank Silvia Solve called upon the Indonesian government to continue implementing the economic reforms and to provide the suitable environment for investment with the aim of increasing the average of economic growth rate.

Companies Indexes

- The net profits of the investment unit of the Jordanian Social Insurance during the first nine months of this year have reached 163.3 million dinars.
- “Unicorm” Bank for Investment said that it achieved strong financial results with an increase of 32% of its revenues, raising from $64.1 m during the same period of last year to $84.6 m during the first nine months of this year.
- The net losses of the American Ford Company during the third quarter of 2007 have reached $380 m after it dispensed with 6200 workers in North America.
- Truck Sell, the biggest mobile telecommunications company in Turkey, has revealed that its net profits during the third quarter of this year have risen by 29% on an annual basis reaching $401.2 m.

Exhibitions & Conferences

- Dubai International Center for Conferences and Exhibitions is due to host tomorrow the exhibition of media and promotion 2007 with the participation of a number of the most prominent advertising and media companies as well as promotion establishments in the region.
- Damascus is due to host the 11th meeting of the society of Arab business under the moto: “The Arab Investment Shines in Syria” between 14-17 of December 2007 with the participation of the biggest establishments and senior Arab economic figures.

Bids & Contracts

- The Syrian Airlines Company and the Turkish Airlines Company have signed in Istanbul a trade agreement stipulating on increasing the number of flights between Damascus and Istanbul and making Turkish flights into Aleppo and Lattakia.
- The Chinese Company for Air-Conditioners manufacturing “Shingo” has concluded a contract with the Syrian Barada Company for Metal Industries to implement the signed contract between the two companies with regard to manufacturing air conditioners by Barada for the interest of “Shingo”.

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.