The Small Financing in Syria

The small financing in Syria was not till recent years paid attention by the Syrian government, but that experience which was welcomed in a number of the neighboring countries, has started to invade the Syrian economy lately, specially by the UN which established with the UNRWA two units for small finances that offer financial aids for the poorest social strata in the society.
The Syrian cabinet has agreed to grant Agha Khan Agency for Small Finances a permission to contribute in establishing a private banking establishment by the name of The Establishment of Small Finances through the form of a joint stock corporation that aims at offering small finances with a total capital of 250 million Syrian pounds. It seems that the government will adopt this course in the coming few years, especially that it held a national conference for small finances, for absorbing the expected economy and social negative effects as a result of shifting towards the market economy which will result also in marginalized and poor social strata that need very small capitals for improving its life conditions.

$550 m, a Cash Flow from the Egyptian al Burak to an American Company

The American Insomenia Media Group said that it has been granted a cash flow estimated at $550 m from the holding al Burak Company located in Egypt, in the latest deal within a series of granting companies from Hollywood cash flow from the Middle East.

1 billion and 350 million Syrian Pounds, the Value of Tourist Projects in Hama

The Syrian Tishreen newspaper said that the total value of the tourist projects which were invested in service lately in Hama governorate has reached 1 billion and 350 million Syrian pounds, 750 million of them is the total value of projects that were invested last year and the rest is the costs of three investment projects to be put in service before the end of this year.

Event 360 Exhibitions Attracts the Conferences in the Middle East

AAR Exhibition Company, which organizes Palm Exhibition in the Middle East, said that it re-designed event 360 to become a new horizontal exhibition dedicated for the sector of conferences, meetings and incentives. The new independent exhibition will be held in parallel with Palm-The Middle East Exhibition to be held in Dubai International Center for Exhibitions between 27-29 of April 2008.

An Emarati Real Estate Projects in Tunisia

Al Sahafa Newspaper quoted the Tunisian Minister of Development as saying that the completion of a real estate projects with total costs of $14 bn for building offices, luxuries hotels and flats in the Tunisian suburb will help activating the annual economic growth rate with 0.34% in the coming four years.

Small Indexes

- Prices of oil for future dealings have jumped by more than 2 dollars following the announcement for Central Bank that they took steps to improve cash money in the financial markets , and a report by the American government which showed a drop more than it was expected in the reserves of the crewed oil in the .U.S.
- The Egyptian Ministry of Trade and Industry and the Spanish Province of Catalonia have signed a memorandum of understanding for holding logistic area in the Egyptian sea por
- The general indicator of Maskat Financial Market ended its dealings today with a drop estimated at 1.500 points closing by 8.963 points.

Companies’ Indexes

- The Islamic Qatar International Bank has established a new Islamic Insurance Company in the Syrian market by the name the Syrian-Islamic Insurance Company with a total capital of $20 m.
- The Iranian Iran Khodro Company for Cars Manufacturing said that it will produce “An Islamic Car” with all its components manufactured in the Islamic countries only.
- Louula Dubai Company, which represents the coalition that comprises a group of investors led by al Fahim Group, said that it bought the project of Louula Dubai with its investments estimated at $3 bn.

Conferences & Exhibitions

- The Second Conference for Financing the Sector of Travel and the Services of Journeys, ITCA Dubai was opened on Wednesday in Dubai International Center for Exhibitions with the participation of more than 123 companies from 24 countries representing the industry of financing and international travel services that would strengthen the industry in the region.

Bids

- Libya has granted the American company Occidental Company and the German RWA gas companies two concessions for gas exploration.
- In Germany, it was announced on Wednesday that two Chinese air companies will join the International Star coalition for aviation companies.

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, 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.