Postponing The Crisis of Water

The crisis of water in al Rafidin Triangle between Turkey, Syria, and Iraq seems to be one of the most postponing crisis, even for a while, but the old dispute has comeback to the front once against, especially with the last wave of drought. After 20 years, the three countries have met once again for addressing the suspending file related to dividing the waters of the Euphrates and Tigress Rivers, and between Turkey on the one hand and Syria and Iraq on the other. A three party talks that involved ministers of Irrigation in Syria and Iraq Nader al Buni and Abdul Latif al Rashed on the one hand, and the Turkish Minister of Environmental Resources Vesel R. Oglo were concluded in Damascus with the agreement on the necessity of solving the issues through dialogue and that water would remain a bridge of cooperation, but the three countries have not reached till now a final agreement with regard to projects, dams, combating pollution and water consuming orientation, and the most important of these is the issue of distributing the shares among them at a time Turkey is still refusing to sign the international agreement for using water rivers which calls those countries from which the rivers spring to consult with the other countries before holding any project or building any dam on the river which in away or another postpones the issue once again.

Sonatrach Company Intends to Spend $1.8 bn for Protecting Pipelines

The Director of the Algerian Oil and Gas Company Sonatrach said that his company will allocate $1.8 bn for financing a program that last till 2010 with the aim of improving the security of the channels of fuels transportations to confront what he called the phenomenon of attacking the secure spaces of those pipelines. It is worth mentioning that these attacks have reached 530 in number.

An Oil Agreement Estimated at $107 m between Iran and Edison Company

The Iranian official TV said that the Iranian National Oil Company and Italian Electricity Company Edison have signed an agreement estimated at $107 m for developing an exploration area in the Gulf, adding that the marinal Dayer area with a total space area of 8500 km is located in the Gulf. It is worth mentioning that Iran is considered the fourth biggest oil producer in the world by analysts say that it needs to big investments and foreign expertise to increase its oil production considerably.

The Saudi Zain Company is Granted an Islamic Loan Estimated at $2.5 bn

The Saudi Zain Company has been granted an Islamic loan estimated at $2.5 bn from four banks, three of them are Saudi Banks for covering the activities of the company in Saudi Arabia which the company entered as a third operator lately. The company asserted, according to al Qabas newspaper, that it will avoid any “War of Prices” with the Saudi Telecommunications Company and Mobaili Company working in the kingdom since many years.

The Arab Ministers of Telecommunications Discuss Issues of Informatics

The Executive Bureau of the Council of the Arab Ministers of Information and Telecommunications has discussed in its 23rd session at the site of the General Secretariat of the Arab League in Cairo a number of issues related to joint Arab activity in the field of telecommunications and the technology of information, according to the Syrian news agency SANA.
The bureau discussed the preparations for the international forum of internet management, and it also underlined the necessity on crystallizing an Arab strategy for telecommunications and information and to conclude the work plan dedicated for this strategy and presenting it on the agenda of the coming meeting of the permanent Arab committee for telecommunications and information to be held in May 2008.

Small Indexes

- The American Ministry of Treasury said that the government has achieved a surplus estimated at $48.26 in its budget in December which is considered a hit record for this month.
- A loan estimated at 7.2 billion Euros ($10.56) is under preparation for financing a deal with the aim of acquiring the Egyptian Orascom Cement Company by the French Lafarge Construction Material Company.

Companies’ Indexes

- The Tunisian-Kuwaiti bank has signed a contract for selling 6% of its capital to the French financial institution Osuor with a total value of 300 million Tunisian dinars ($212 m).
- The Kuwaiti Oil Company has concluded a dealing for five years with a total value of 93 million dinars with Amic Kuwait Company for offering consulting services in the field of project management.

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.