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“The Rejection Front” Wins

- Saudi Arabia Establishes a Sovereign Fund of $900 bn.
- The Jordanian Telecommunications Group Renews its Agreement with Microsoft Company.
- Qatar National Bank Opens a Branch in Amman This Month.
- Iran Holds Talks for Selling Gas to the Italian Epson Company.
- Cooperation Between Dubai for Mass Media and the Syrian General Corporation of Radio and TV.

| Beirut (Lebanon)
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“The Rejection Front” Wins

It is no more a complicated issue to know the two parties of conflict in the Middle East. On the one hand, there is a project of American dominance which aims at making the region a farm for the capitals covered by tears and blood of the peoples of the Middle East. On the other, there is a project of opposing, facing and rejecting front that springs out of the will of free life by the peoples of the region. Despite everything that can be said about the new system that holds consequences which make it difficult for the peoples of the region, yet the mutual values that the system holds have flexibility that can be developed to become a new version of a New Middle East signed by all the peoples of the region, especially that the current events on the ground assert today that the American project has reached a deadlock. A clear evidence of that is the deadlock of electing a Lebanese President, add to that that the front of opposition and steadfastness has started to win important rounds in the struggle, and a most prominent example of it is the Iranian nuclear file. The group of 5+1 has failed once again in reaching a decision to impose new sanctions on Iran. For its part, Iran will announce on Sunday a new bid for building 19 energy stations with a total capacity of 1000 megawatt for each with the aim of generating nuclear electricity.

Saudi Arabia Establishes a Sovereign Fund of $900 bn

Financial Times newspaper said on its web site on the internet that Saudi Arabia intends to establish a fund for sovereign wealth that might exceed in value $900 bn. It is expected this fund to become the biggest in the world. The newspaper added that this project will be led, most properly, by the Saudi fund for general investments which is not authorized to invest outside the Kingdom.

The Jordanian Telecommunications Group Renews its Agreement with Microsoft Company

The Jordanian Telecommunications Group, the Operator of the Integrated Telecommunications System in the Kingdom, renewed an agreement with a total amount of 1.8 million Euros with Microsoft Company and the company for computer technical services, STS, the golden partner of Microsoft Company, specialized in the field of offering integrated information solutions.

Qatar National Bank Opens a Branch in Amman This Month

An Executive Official in Qatar National Bank, the biggest Qatari Bank in terms of market value, said that the bank plans for opening the first branch in Amman before the end of the month with the aim of getting benefit of growth rate opportunities in the Gulf state. Qatar National Bank said in September that it was planning to allocate $1.39 bn during the coming few months for financing the growth, adding that it agreed with partners to open a bank in Syria, as it increased its share in the second biggest bank in Jordan by 30%.

Iran Holds Talks for Selling Gas to the Italian Epson Company

The Iranian Minister of Oil Ghulam Hussein Nozari said that Iran holds talk with the Italian Company Epson, working in the field of energy, to export gas to this country which is a member of the European Union. It is worth mentioning that Iran owns the second biggest gas reserve in the world after Russia. Nozari said in a statement broadcast by the state owned TV that negotiations have started and talks have been completed, adding that Italy’s initial need for the end of 2008 is 1.5 billion cubic meters and to be increased to 4.5 billion cubic meters.

Cooperation Between Dubai for Mass Media and the Syrian General Corporation of Radio and TV

The deputized member of the administrative board of Dubai media establishment said in a joint press conference with the Syrian Minister of Information Muhsen Bilal in Damascus on Saturday that a news center in the Syrian TV will be established with an Emarati expertise and assistance offered by Dubai media establishment.

Small Indexes

- The Egyptian government said that the total investments of the big factories that have been established till November 2007 have reached 17.633 billion pounds, adding that offered 76.527 job opportunities.
- Dominique Strauss, Director of the International Monetary Fund, said that international financial stability has received a great blow due to the crisis of real estate mortgage, pointing out that the growth rate in Europe and the US will decline as a result of that.
- Russian Deputy Prime Minister Alexander Jokov told the Russian news channel Visty 24 that the ruble will rise by 2% opposite to a package of foreign currencies in 2008.

Companies’ Indexes

- The British Games Companies have hit a record in terms of expenditure volume with a total amount of 1.51 billion pound on new products during 2007 with an increase of more than 25% compared to last year.
- The Japanese giant Sony Company for Electronics Industries said that it expects the selling of Play Station 3 for operating the games to exceed 11 million units by the end of this fiscal year.
- The American Apple Company holds talks with the Japanese Telecommunications Company “NTT Do Komo” for offering I-Phone mobile phone in the Japanese market next year.

Bids

- The Emarati Dolphin Energy Company said that it granted “Lesaltsgter” unit, the second biggest Germany Company for Iron Industry a contract for laying a gas pipeline with a total value of more than $200 m.
- The investment bank “Unicorne” located in Bahrain said on Sunday that it bought 75% of the American Open Silicon Ink Company for manufacturing computer RAM and ROM in return for %190 m.

Exhibitions

- “The Palace of Culture” in the capital Algeria is witnessing a historic exhibition under the title “Koutama” and al-Fatemia civilization”, exhibiting the role of the Amazigh in the Islamic Arab Civilization. The exhibition will last till 31st of next month.
- The exhibition of the Arab travel market “Al Multaqa 2008”, the biggest event specialized in travel and tourism sector in the Arab region is to be held between 6-9 of next May at Dubai International for Conferences and Exhibitions. The exhibition will shed light on prospects of developing mutual tourism between the two American contents and the region.

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