Is Iran Able to Use the Card of Oil?

Iran bids on the weapon of oil more than any other weapon in its conflict with the west due to its ability to paraylize the movement in Hermes Route which transforms more than 30 million barrels of oil daily, that it to say 40% of the need of the world of this important material.
Experts think that in case Iran stopped its selling of oil, estimated at 205 million barrels daily, the prices will jump considerably, but other party of experts think that Iran will be the first victim of its decision because the all exports finance almost half of the budget of the Iranian government. No one says that it is unlikely that the US will launch a military strike against Iran not only because of its nuclear program but also because it is an oil country but the important questions is will Iran be able to use the card of oil, or should it think of another weapon?

The Lebanese Shares Continue to Rise

The indicator of the Lebanese shares Bloom has risen by 6.25% on Monday, closing on its highest levels ever this year at 1572.8 points with the hope of reaching an imminent end to the Lebanese political crisis.

Iraq Seeks to Attract the Saudi and Syrian Investments in Gas Fields

A source in the Iraqi Ministry of Oil said that Iraq has called lately Saudi Companies to invest in Okaz gas field in al Anbar province. Moreover Iraq has also called Syrian companies to invest in other gas fields.

Iran Calls Upon the GCC Countries to Form a Security and Economic Alliance

The Iranian President Mahmood Ahmadi Najad called upon, in his speech at the opening ceremony of the summit of the GCC countries which started its activities in al Doha yesterday, for establishing a bloc of economic cooperation as well as forming a security alliance with Iran.

Turkey’s Exports Reach $8 bn in One Month

An economic report has revealed that the volume of the Turkish exports during last October has reached $9.883 bn with an increase of 43% compared to the exports of the same month of last year.

$8.3 m, the Profits of Barclays-Egypt Bank During the Third Quarter of the Year

Barclays-Egypt Bank, affiliated by the British Barclays Bank said that it achieved net profits estimated at 46.2 million Egyptian pounds during the third quarter of 2007 with a decline of 19% compared to 56.8 million pounds achieved during the same period of 2006.

Small Indexes

- The general indicator of the Saudi share achieved on Monday its biggest for one day during a month led by the Saudi Company for Basic Industries “Sabic”.
- The number of foreign tourists who visited Morocco during last summer has risen by 12% compared to the last year, reaching in total 2 million and 850.000 tourists.

Companies’ Indexes

- The Egyptian Orascom Company, the fourth biggest Arab company for the service of mobile phones in terms of market value, said that it has transformed its dispute with France Telecom Company to the Jury of the International Trade Chamber.
- Ima’ar for Industry and Investment, affiliated by the real estate Ima’ar company, has acquired the share majority at the limited Caparol Company, the arm of Deutsche Amphibolin Werke company, the biggest group of private company’s in the field of manufacturing paints in Europe.

Bids

- Al Khaleej Bank in the UAE said that it has been granted a loan of $825 m for financing project in energy, electricity and infrastructure sectors.
- The Italian company Saibem said that it won a contract estimated at 1.4 billion euros in Qatar.

Exhibitions

- The municipality of Bethlehem has opened Christmas market in the courtyard of “Al Mahed Chruch” with Arab and foreign participation among them Australian, Danish, European Union and Egypt delegations.

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.