The First Flight That Runs by Plants Fuel

The British Airlines Company Virgin Atlantic announced that it will operate the first flight in the world that runs by the plants fuel next month between Heathrow Airport in London and Amsterdam. Many Western mass media said that there are many European fears with regard to using this kind of fuel produced from plants, especially that a recent study warned against the increase of prices of foodstuff and destroying the tropical wood due to the exploitation of plants fuel. _ The European Union pledged to prepare new procedures for securing a rightful implementation of its policy in this field.

Increase of 4% of the Profits of the Saudi al Riyadh Bank

Al-Riyad bank, the fifth biggest Saudi bank, achieved an increase of its profits during last reaching $802.6 m compared to $775.7 m in 2006. Rashid Abdul Aziz Chairman of the Administrative Board of the Bank said that the profits of the bank between October-December 2007 have reached $211.5 m with an increase of 13% compared to the same period of 2006,

The Economist Newspaper Organizes the Symposium of (The World 2008, the Forum of the Executive Chairmen) in Abu Dhabi

The symposium entitled the world 2008, the forum of the forum of the executive chairmen organize by the British Economist newspaper held in Abu Dhabi tackled the developments witnessed by the world economy in 2007 and prospects of the international economic growth rate in 2008. A number of executive chairman of local, regional, and international companies took part in the forum.

$50 bn, a Total Volume of Expected Gulf Investments in the Field of Energy

A British experts in the industry of energy said that the GCC countries need additional energy estimated at 100.000 megawatt during the coming ten years for addressing the increasing demand of energy. Nill Waker, Director of Pinwell Institution specialized in organizing energy exhibitions said that with the increasing demand on energy by more than five percent annually, the GCC countries intend to invest about $50 bn in the energy sector.

Small Indexes

- Egypt has signed a number of cooperation protocols in the tourist sector with Ireland, among them a cooperation protocol with the international Cornell University in addition to establishing a training center at the sixth of October city.
- Prices of the American crude oil declined by more than 1 dollar on Tuesday as a result of economic fears and following an increase of prices by $1.51 on Monday amid tensions with regard to the Iranian nuclear file, Nigeria, and the weakness of the dollar.

Companies Indexes

- The executive chairman of Amwal al Khaleej Company, a Saudi Investment Company in Private Share, said that it intends to establish an investment container that will increase the value of assets the company runs by about $1.07 bn.
- The National Manufacturing Company is expected to achieve profits estimated at between 300-340 million riyals during the fourth quarter of 2008 with an increase of more than 55% compared to the same period of 2007.

Exhibitions

- The activities of the conference of Macworld 2008 Keynote, held annually by the American Apple Company have started of Tuesday with the aim of announcing the new projects of the company, its products, and its plans for the New Year. The conference will last till the 18th of this month.

Bids

- The Saudi Company for Basic Industries “Sabec” said that it is considering taking part with a share estimated at 35% in a petrochemical project with total investments estimated at $1 bn on the coast of the Red Sea.

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.