Egypt is planning to receive 25 million tourists by 2020

The Egyptian minister of tourism said that the government is planning to increase the number of tourists to reach 25 million tourists in 2020, adding that this will be done through focusing on offering excellent tourists services and offering different tourists product like environmental and recreational tourism with the aim of achieving the goal of sustainable tourism.
Mr. Zuhair Jrana said that Egypt received last year more than 9 million tourists who spent 89 million nights in Egypt and spent about $ 8 billion, adding that the sector of tourism and affiliated activities have offered fifth of the labor power in Egypt representing more than 40% of the service exports for Egypt. He pointed out that there are 133.000 rooms under construction, thus making Egypt achieve the highest growth rate in terms of the number of the hotel rooms in the region.

The UNDP contributes in developing Lattakia Sea port

Press reports mention that Syria and the UNDP will sign an agreement for developing the Syrian Lattakia Sea Port 270 Km north of Damascus for increasing its competitive abilities, and building services center, and building a new silo with a total capacities of 65.000 tons.

“Sha’a Capital” company tries to establish a bank in Syria

Sha’a Capital company, located in Dubai, said on Tuesday that it will hold talks with Emirate companies for establishing a bank in Syria with the aim of getting benefit from the increasing growth rate in the country. The executive chairman of the company, Iyed Duaji said that the plan is to make a coalition with Emirate partners for interring the Syrian market.

The Saudi “Sukuk” and the Emirate “RAD” companies prepare for building 171 towers

The Suaid Sukuk and the Emirate RAD companies for real estates have been granted investment lands in Ajman Emirate with a total value of 1.3 Billion Dirhams for building 171 towers in a giant city called Zayad City.

Small Indexes

 The value of the expected revenues in the Saudi budget has reached 450 billion Riyals were as the expenditure have reached about 410 billion Riyals, thus the expected surplus is 40 billion Riyals.
 A report issued by Kuwaiti national Bank expected the increase of gas production in the northern fields to increase the revenues of the government with 115 million Riyals in the coming fiscal year.

Companies Indexes

 A spokesman of the Italian Fiat Company for cars production and manufacturing said that 5 factories affiliated by Fiat group closed due to a strike by the drivers.
 Auto Telecommunications Company said that it attracted 75% of the buyers of A-Phone mobile phones in Britain with the aim of getting benefit of the services offered by the networks of mobile phones in the country.
 Kuwait is due to host the exhibition of “Watches” – 2007 on the 26th of December till the 4th of January with the participation of more than 30 institutions and companies. The Exhibition is organized by Kuwait International Company for Exhibitions.


 The real estate Ima’r Company and the British United Utilities companies have agreed on holding a project for the management of the facilities of the Arab company which is holding real estate projects in Dubai.
 The French president Nicolas Sarkozy said on Monday that France will sign agreement with Libya with a total value of 10 billion Euros.

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, English and Spanish. Also worth a read is Tendencies, the daily Near East political watch newsletter, available in Arabic, English, French, German, and Spanish languages.