The World is About To Witness a Crisis of Depression

A number of biggest Central Banks have agreed on pumping about $110 bn in the markets due to increasing western fears of a session of depression in the American economy, with the aim of pushing forward the economic growth rate. Analysts say that the reason behind this movement is the decline of granting loans between banks themselves, after some of which witnessed huge losses in the American real estate market, which decreased the available cash money, and consequently made it less able of granting loans. A number of American economists expect 2007 to witness the worst average of the American growth rate during the last five years due to the collapse of the real estate sector and the crisis of loans and insurance, adding that it is likely that this poor performance will be continued in 2008, which makes economy threatened by collapse. Moreover, fears in the international markets have increased in the sense that decreasing loans in the US might lead a session of depression in the American economy which will have negative results on the international economy.

Arab-Sat Concludes a Financing Deal with An Amount of $300 m with the Saudi Dutch Bank

Emirate Telecommunications Company “Itissalat” announced that it will offer a number of promotional exhibitions during al Adha Eid,. It announced that it decreased the cost of the international calls for mobile phones as well as land phones from 9 o’clock Monday evening on the 17th of December till 7 o’clock on Saturday morning the 22nd of the same month.

$170 m, Investments of the Holding Construction Materials Company in Syria

The total volume of investments by the holding construction materials company in the Syrian market has reached more than $170 m divided among to phases: the first by buying a land in Adra industrial area with a total square of 264.000 square meters for building a number of developed and specialized factories, and the second for manufacturing the producing raw materials with the aim of offering construction materials factories in Syria.

Al-Riyadh Hosts the Cultural Meeting of Businesswoman Next March

Al Riyadh is due to host the third cultural businesswoman meeting – 2008 under the motto “Competitiveness Amid A Changing World Economy”, organized by women branch in the trade – industrial chamber in al Riyadh.

Abu Dhabi Trade Bank Buys 25% of a Malaysian Bank

Abu Dhabi Trade Bank revealed yesterday that it is about to negotiate with the fund of deposit for employees affiliated by the government in Malaysia, to buy a share of 25% of the capital of “RHB Capital Berhad” Bank, after it has been granted the necessary agreements from both concerned authorities in the two countries.

Abu Dhabi Hosts the Real Estates and Investments Exhibition “Iris” 2008

The fourth session of Abu Dhabi real estate and investment exhibition Iris 2008 will be held between 30 of November till the second of February 2008 in Abu Dhabi National Center for Exhibition, with the participation of 70 companies from the biggest real estates companies in the UAE. Antoine George the General Director of “Dom” exhibitions company said that biggest names in the real estate sector said that it will take part in the current session among them: The Real Estate al Dar, The Real Estate Soroh, Damac, Tameer, Hedra, al Qudra, Falcon City Off, and Wonders Companies.

Small Indexes

- The initial performance indicators for the second quarter of the current Egyptian economic development plan showed an increase of the average of the economic growth rate with its current average estimated at 7%
- The Iraqi Ministry of Oil asserted that Iraq’s oil exports during the last quarter of this year have settled on an average of 2 million barrels daily despite the security challenges and the aging oil facilities.
- The Omani Ministry of Transportation and Telecommunications announced that it changed the name of The International Al Sayed Airport into Mascat International Airport as per of the first of February 2008. Al Sayed International Airport is considered the main airport in Oman.

Companies Indexes

- Space Toon Media Group, dedicated for children in the Middle East and North of Africa, announced that it intends to establish its regional location in Dubai Studios City.
- Burj al Arab Hotel and the resort of Jumaira city, affiliated by the luxuries and the rapidly increasing in terms of growth rate, al Diyafa Group have been granted awards in the international annual awards ceremony “The World Travel Awards”, whereas Jumaira city was granted the award of “The Leading Luxuries Family Resort in the World”. The ceremony took place last week in one of the Caribbean Islands.


- The Armenian International Air Company “Arm Avia” is due to receive five passengers plane, Sokohoy Super Jet-100 SSJ-100 before 2011. The plane will accommodate 75-95 passengers and it is considered one of the best planes for small airports.

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.