The European-African Summit, Questions of the Past and Present

Leaders of the countries of the European Union and Africa concluded on Sunday the second summit in Lisbon by adopting the document of “A Strategic Partnership” aiming at opening a new page in the relations of the two groups characterized by equality, as the Portuguese Prime Minister Jose Socrates stated.
Participants in the summit said that the two groups agreed on establishing new relation that is characterized by equality and achieving joint goals. This strategy comprises five pillars: security, peace, democracy, human rights, development, climate change, energy, immigration, and labor.
The strategic partnership was completed by a work plan that speificies 8 partnerships of high priority for the coming three years before the coming summit to be held in 2010 in one of the African courtiers. Socrates said at the conclusion ceremony of the summit that: “Here in this hall and in the lobbies, the prevailing idea among the European leaders and the African ones is the this summit represented a closing to a page in history”. He added by saying: “It is true that the history of our two continents is a history of suffering, but this new page which has been opened is a white page to be written by us”.

“Siyaha” Project Finances Tourist Projects in “Wadi Ram” Area

“Siyaha” project, backed by the American Agency for International Development, has financed a special program for developing the activity of camels riding in Wadi Ram area which is considered one of the most important activities in Jordan.

$15 m the Total Costs of Building the First Hotel in the Syrian Arwad

The Syrian Minister of Tourism said that the first tourist hotel will be built in Arwad Island with a total cost of $15 m. Dr. Sa’adallah Agha al Qalla pointed out that the hotel comprises three storey including 61 sweets, 18 rooms, and restaurants as well as services center.

The Increase of the Capital of the Kuwaiti National Banks Starts on Tuesday

Kuwait National Bank announced that subscription on the shares for increasing the capital of the band estimated at 20% will start on Tuesday. The Chairman of the Administrative Board of the Bank, Mohammad al Baher said in a statement, that any contributor in the bank has the right with regard to the priority of subscription, adding that the price of the issuance of the subscription will be one Kuwaiti dinar.

The Activities of “Halal World Expo” Exhibition are Concluded

The Exhibition of “Halal World Expo” will be concluded today in Abu Dhabi Emirate following three days of exhibitions. Many companies in the Middle East and international companies working in the industry of production according to the Islamic Sharia took part in the exhibition.
The volume of this industry is estimated at about $2.1 trillion.

Agha Khan Foundation Establishes an Establishment for Small Finances in Syria

The Syrian cabinet has granted Agha Khan agency for small finances an initial approval for contributing in the establishment of a banking institution in Syria by the name “The First Establishment of Small Finances in Syria”, according to the form of a joint stock corporation. The aim is to offer small faineances with a capital of 250 million Syrian pounds distributed among 50.000 shares.

Small Indexes

- The Syrian Hama City will host the biggest peace tree in the Arab homeland and the fourth of its kind world wide with a total height of 40 meters and a diameter of 25 meters.
- The average of inflation in Saudi Arabia has risen to 35% last October, recording its highest levels ever since 1995.
- The European Union approved on granting Lebanon financial aids estimated at 80 million Euros for contributing in the programs of re constructions, development, and efforts aiming at decreasing the general debt.

Companies Indexes

- The German-Jordanian University and Oracle Company took part in opening Oracle academy in Talal Abu Ghazala Faculty of administration.
- Al Ajlan company, which has been granted the biggest agencies of ready made clothes in Saudi Arabia, announced that it pumped 120 million dirhams for opening ten branches of the products of the Italian Company “OVC” in Dubai, Sharjja and Abu Dhabi during the coming three years.


- The activities of al Sharq al Awsat Manufacturing Exhibition “Mimex” started yesterday till the 12th of December with the participation of 11 countries.


- The French President Nicolas Sarkozy said that he will conclude agreements estimated at ten billion Euros with the Libyan leader Muammar al Qaddafi who is paying France a visit.
- France and Tunisia have signed two agreement with a total value of 6.6 million Euros, 1.7 of these will be allocated as a donation from the French Development Agency for Financing the Fund of Professional Training, and the rest will be allocated for establishing the fund of experts and capabilities building.

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.