Questions About the Future of the World Economy

Throughout the last few months the American weak dollar was not an obsession for the American economy. European Union, as a Geo political group, was also not affected by the increasing prices of the Euro neither by the decline of the growth rate of the Chinese economy opposite to high percentage of inflation. Indicators of growth rate, consuming, the trade surplus issued all over the world don’t reveal economic imbalances due to the crisis witness by the world since the mid of 2007. According to many economic analysts, the world economy is no longer closely related to factors that have to do with the growth rate, rather new criteria have taken this part. In this respect, the increasing oil prices don’t make the international community worry like it was the case at the beginning of the 1970s of the last century. The surplus of the increase of these prices are being exhausted in vain in a similar way witnessed before. No matter the change of the growth rates of the international economy, and the affiliated economies, the surplus of oil prices, the companies’ profits, and the increase of investment funds will all contribute in distributing the wealth abroad, but within certain circles and among main powers. So the question is will the huge surplus of money and wealth will be a guarantee for an unbalanced international economic growth rate?

The Egyptian Economy Achieves a Growth Rate of 6.85% in the Third Quarter of the Year

Ministry of Economic Development in Egypt said that the Egyptian economy has achieved a growth rate estimated at 6.85% during the three months which started in July till the end of last September. It is worth mentioning that the International Monetary Fund said that it expects the Egyptian economy to achieve a growth rate estimated at 7% during the fiscal year 2007-2008 which started in July.

14 million Euros for Small-Sized Establishments in Lebanon

The Governor of Lebanon Central Bank Riyad Salameh signed yesterday with the Ambassador of the European Union to Lebanon Patrick Luran an agreement according to which the union will grant Lebanon’s bank 14 million and 450.000 Euros for supporting the costs of financing projects of small and medium sized establishments which benefited from easy to pay loans offer by the European Bank for Investment.

Syria Allows the Foreign Investors to Own Lands

The Syrian Parliament adopted on Thursday a law that allows non Syrian investors to own, rent, and invest lands and real estates for holding their projects or expanding them in the industrial cities according to law No. 21 concerning ownership, renting, and investing in the industrial cities.

Iran Expresses its Interest in Financing the Industrial Projects in Syria

The Iranian Charge de Affairs in Damascus Meir Masoud expressed Iran’s readiness to cooperate and financed the industrial project in Syria, pointing out that Iran gives priority to Islamic and Asian countries.

Inflation in the GCC Countries Rises by 20%

Inflation percentages in the GCC countries have reached during the last debts 20%, according to a statement issued yesterday by the Chairman of the Administrative Board Arab Monetary Fund Dr. Jasem al Manai. He further noted that the problems of inflation and exchange rates have started in the GCC countries with the increase of oil prices warning that these problems will have dire consequences on the national economies of the GCC countries.

Small Indexes

- Wall Street Journal said that Alan Haberd, the senior consultant of the American President George Bush for Economy Affairs will resign before the end of the year.
- The General Director of the Syrian Investment Commission Mustafa al Kafri said that the average of the foreign investments to Syria has reached 40% of the total investments included in investment law for this year.
- Tunisia has been elected a member in the executive committee of the international bureau of conferences, during the general session of the bureau held lately.

Companies’ Indexes

- The Arab Company for Medicine “Thameco” said that it achieved a growth rate of more than 7% in terms of its selling till the end of October 2007, achieving a total of 1.2 billion Syrian pounds of selling medicines.
- The Lebanese al Sharq al Awsat airlines company said that the political instability and the presidential vacuum have had negative results on the number of flights and passengers on the board of its planes.

Conferences & Exhibitions

- Dubai Trade Center is due to witness between 4-6 of next December the exhibition of the 14th Arab oil and gas exhibition 2007 specialized in the field of oil and gas in marinal, and land areas as well as petrochemical materials.

Bids

- The hold Syria Company said that it signed a partnership agreement with the international Spinney Company which owns the rights of the trade mark “Spinnes” with the aim of building a series of supermarkets for retile selling in Syria.

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.