The Foreign Investments in Iran

One of the most important indicators which shows today the good performance of the governments and especially within the group of “The Countries of the South” is its abilities to attract the foreign capitals.
For this purpose, these countries are trying to set the decrees and legislations in many fields and the most important of which is the economic one.
Iran is consider today one of the countries that took for openness on the external world economically, it has lately announced a real change in its economic policies represented in issuing the constitutional article No. 44 with regard to the privatization of the country’s economy in accordance with the equation of 80% for the private sector and 20% for the government sector paving the way in front of the foreign investments which Assistant Minister of Economy and Finance Ghulan Rida Hadari Kurd Zankana expressed his relief towards the volume of these investment in Iran which reached $10 bn during the last Iranian year which ended on 21 of last March.
Zankana described his country by saying that it occupies an excellent and prominent position worldwide due to what it enjoys of cheap manpower, experts, specialists, and huge reserves of natural resources as well as a distinctive strategic geographical location.

The First National Conference for Small Financing Concludes its Activities in Syria

The First National Conference for Small Financing concluded its activities yesterday at Omayyad Palace in Damascus.
The conference discussed in its five sessions throughout two days issues related to making the governmental bodies, the civil society, and the concern bodies acquainted with the concepts of small financing, its impact on the development of the local societies, and helping the poor class in the society.

Three Tourist Facilities in Damascus and Its Countryside with a Total Cost of $20 million

Three tourist facilities for Syrian and Arab Investors with a total investment value of more than 1 billion Syrian pounds were opened in Damascus and its countryside governorates.
Sana mentioned that the Syrian Prime Minister Mohammad Naji Otry opened Telseman Hotel and Beit al Fan Facility which is a five star heritage houses as well as Qariet al Nakhil in al Sabboura area owned by the Saudi Bin Laden Group.

Damascus’ Third Insurance Meeting Expects a Rapid Growth of the Syrian Market

The Activities of Damascus’s Third Insurance Meeting held on Saturday under the moto “The Demands of the Rising Insurance Markets between The Right Visibility and the Good Performance” were concluded.
Dr. Abdul Lattif Aboud the General Director of the Supervising Commission on Insurance said that the infrastructure of the insurance market has been completed, expecting a growth at the insurance market in Syria during the coming year by an average between 25-30% compared to this year.

An Increase in Capital of the Jordanian al Ittihad Bank by 95 million Dinars

The Jordanian al Itthiad Bank has completed the measures with regard to increasing the capital of the Bank to reach 95 million dinars instead of 66 million dinars, following the participation of the global investment house and the United Arab Investors Companies as strategic partners in the capital of the bank.

Al Sharqia Company for Investment Establishes an Islamic Trade Bank in Lebanon

The Qatari Businessman Khalid Bin Ahmad al Sweidi said that in participation with al Sharqia Investment Bank and others, the company has been granted the approval of Lebanon Bank for Establishing an Islamic Trade Bank by the name al Masraf with a total capital of $100 m distributed among 100 million shares.

Airbus Achieves a Deal of $2 billion at Dubai Aviation Exhibition

The European Aviation Giant Airbus has achieved on Sunday a great achievement by concluding deals estimated at $20.2 bn with the Emarati airlines company affiliated to Dubai Emirate in addition to concluding other contracts but its American competitor Boeing was not completely disappointed as it also concluded many contracts.

Alafco Company Achieves Profits of 9.1 million dinars

The Chairman of the Administrative Board and the Executive Chief at Alafco Company for Financing, Buying, and Renting Airplanes, Ahmad Abdullah al Zaban said that the company has achieved net profits of the fiscal year which ended on 30/9/2007 estimated 9.1 million dinars with an increase of 11% compared to the profits last year.

Small Indexes

- The main index of Kuwait stock market has declined by 2.7% on Sunday recording the best decline in one day during one year due to the fears confrontation between the government and the parliament which resulted in weak investments by the investors.
- The Industry Sector has formed in 2006 about 16% of the total domestic non-oil production of Dubai Emirate and about 11.2% of the total manpower.
- The World Council of Tourism and Travel expected an increase of growth in the tourists sector in the region by 10% during this year compared to 4.3% which is the average of the international growth.

Companies’ Indexes

- The Egyptian Electrometer Company, specialized in the field of electricity, said that it intends to invest $30 m in building the first factory of its kind of cables and electrical transmitter in Yemen .
- The Japanese Holding Company Inbex has achieved an increase of its net profits during the first half of this year by 25.3% reaching 81.45 billion Yen compared to the same period of last year.

Conferences & Exhibitions

- The meetings of the first Arab Conference for Custom House are due to start today in al Aqaba city South of Jordan with the participation of delegation representing the directorates of custom houses in 16 Arab countries among them Jordan.
- The activities of Tunisia’s First Economic Meeting will conclude its activities today as about 500 figures representing 21 countries took part in the conference discussing the prospects of the Tunisian economy and investment opportunities in Tunisia.

Bids & Contracts

- Al Emarat Airlines Company said in a statement that it has submitted request to buy 131 Airbus planes in a deal estimated at $31.7 bn comprising 70 planes of A-350 model.
- The Saudi Ministry of Interior said that it approved on buying 40 helicopters of Sikorsky Aircraft Corp affiliated by United Technologies 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 in Arabic and English. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English and French languages.