An Arab Economic Summit

An Arab Economic Summit

The meeting which was held at the headquarters of the Arab League in Cairo of the preparation committee of the developmental and social Arab summit was not paid much attention, because the winds of politics in the Arab world have wasted the seeds of economy.
The preparation committee of the summit comprises Sudan, Saudi Arabia, Syria, Algeria, Egypt and Kuwait. It is supposed that the committee to set up studies and analyses of the sectors of high priority as well as programs and projects to be submitted to the Arab leaders to adopt and agree on implementing them. Till now, no specific date has been set for that summit of economic dimension, despite the last Arab summit has chosen Kuwait as a place for convening it, and its supposed that the summit will discuss issues related to increasing averages of poverty and unemployment, deterioration of living standards, the decline of the Arab trade and the weakness of the infrastructure with regard to roads, water, electricity, and telecommunications in addition to not catching up with the educational process that meets development needs and world competition.
The question to be raised is: What is the position of politics in the Arab economic arena which prevented it in a half century of treaties and agreements on paper only to become a regional economic power specially amid global changes in which the cycle of economy has become the means that lead politicians and not vice versa.

The Opening of al Yarobia Free Zone in the Syrian Hassaka Governorate

The Free Zone in al Yarobia area on the Syrian-Iraqi borders in the Syrian al Hassaka governorate was opened yesterday. Ahmad Abdul Aziz, the General Director of the General Establishment of the Syrian Free Zones pointed out that the free zone in al Yarobia will contribute in achieving more growth rate and create job opportunities and new windows for local resources.

The Gulf “Beit al Tamweel” (The House of Financing) Develops an Economic Zone in India

The Gulf Beit al Tamwel announced on Friday that it signed an agreement for developing an economic zone near Bombay in India with total investments estimated at $10 bn for getting benefit of the prosperous sectors like energy and telecommunications.

$1 Trillion, The Volume of Assets in China

Economic statistics have revealed that there is an increase in investment with regard to fixed assets in China during the first 11 months of 2007, which reached $1.36 trillion. The statistics, which was published by the Chinese news agency, said that that the investments in the governmental institutions and the governmental holding establishment have reached 4.39 trillion Yuan with an increase of 16.3%

Del Company Launches the Portable Computer “Latitude X-T”

Del Computer Company has launched the new portable computer “Latitude X-T” which is characterized by its very thinness and the possibility of using it according to the usual way or by writing by pen which contributes in carrying it more easily.
The new computer is the only one of its kind in the markets with less than 2 k.g.

Small Indexes

– The Euro-African Bank for Investment and Development has decided to open a branch in Cairo for implementing projects of development and investment in Egypt.
– A banking official said that the banking “Al-Baraka Group” will issue Islamic Bonds with a total value of $300 m during the first quarter of 2008 with the aim of expanding its activities in Indonesia, India, China, and Bangladesh.

Companies’ Indexes

– The Saudi Telecommunications Company has offered new cuts estimated at 47% of the providers of the internet service “ISPs” in Saudi Arabia. These cuts include prices of three services: The local main internet service, the international filtered internet service, and the service of the direct filtered international internet.
– SAP in the Middle East and North of Africa affiliated by the International Giant SAP Group, announced that the Saudi Airlines has chosen a solution platform SAP ERP dedicated to planning of the sources of the establishment within the framework of its efforts aiming at quicker privatization.

Bids

– The Libyan National Oil Company said that it granted the American Occidental Petroleum Corp and the German RWA companies for facilities concessions within the context of round of granting concessions for exploring gas.