The Rights Are Supported by the Strong Will

The literature of the UN explains the concept of “enabling” as the right granted for individuals and peoples to be able to invest in all available sources as a basic factor for achieving the sustainable human development. In parallel with this concept, the international laws and regulations assert the right of the peoples to get benefit of the nuclear energy and to use it for peaceful purposes in a way that would achieve development, but one can find many disparancies based on the attempts of some political and economic systems, and among them of course the US, to prevent most peoples of the world to get benefit of the nuclear energy, and for course to secure the American supremacy in a way that would guarantee the Americans to control and monitor the development of any people and to keep it subjected to technological, economic, and political ignorance, and this is what the Western governments are trying to do very heart through its exercises with the peoples of the Middle East at least, and the issue of the Iranian nuclear file is but only one episode to be followed by others. In fact, no matter the international laws and legislations are right and not biased, yet the practical implementation of these laws cannot be achieved but by the realization of the importance of these laws by the peoples and the strong will to defend them. When that is achieved, the great circle of prohibitation will be broken so that all peoples can get benefit of the nuclear energy as a result of solidarity by these peoples.

Emirates Islamic Bank Records the Highest Percentage of Profits

Emirates Islamic Bank announced that it distributed profits on deposit and investment accounts during the last quarter of 2007, recording the highest percentage of profits on deposits in the local market. The annual percentage estimated at 6.75% on the accounts of investment for two years was considered the highest of its kind in the UAE.

Algeria Calls Upon the Arab Businessmen for more Investments in Algeria

Algeria urged the Arab countries for pumping more investments and helping it on decreasing its economic depends on oil and gas. The Algerian Prime Minister Abdul Aziz Bilkhadem said that he wants the Arab investors to be more active in what he described as a very attracting economy. The Algerian agency for investment promotion said that 227 Arab investment project were recorded in Algeria during the last six years. It is worth mentioning that Algeria enjoys great revenues from oil and gas with an income estimated about $1 bn a week of these exports but it is moving very slowly in creating more job opportunities.

A Moroccan Fund for Tourist Investment estimated at $128 m

The Establishment of the Fund of Morocco Tourism Fund has been announced in Morocco with a total capital estimated at $128 million by “Active Invest” company affiliated by Finance Com Company owned by the Moroccan businessman and banker Othman Bin Jaloun. The announcement of the fund, which seeks to hold great investments in tourism sector, came along the sideline of Maraksh International Exhibition for travel and tourism which was concluded yesterday.

The Exhibition of Projects of Tourist Development and Investment – 2008

The activities of the exhibition of projects of tourist development and investment – 2008 exhibition was opened yesterday at Dubai International Trade Center on a total space area of 19.000 square meters. The two day exhibition will exhibit tourist project with a total volume estimated at more than 700 billion dirhams. Many Arab countries as well as Western countries will take part in the exhibition.

Small Indexes

- Brokers said that the main indicators of the Egyptian stock market continued its losses on Sunday after the international decline has pushed small investors to sell the big shares.
- Expectations point out that prices of real estates in the Gulf region will rise to reach 20% in 2008 due to the increase of manpower, and construction materials costs. The number of tourists who visited al Betra’a City in Jordan has reached 577.860 visitors from different foreign nationalities with an increase estimated at 62% compared to the previous year.

Bids

- The National Council for Media in the UAE and the Authority of Ra’as al Khaiyma Commission for Investment “The Free Zone” have signed a memorandum of understanding for organizing granting and issuing mass media licenses at the authority of Ra’as al Khaiyma Commission for Investment “The Free Zone”.
- A Branch by al Fatim Group said that it offered to buy all shares of Robinson and Co. Company enlisted in Singapore stock market by about $374 million.

Companies’ Indexes

- The financial group “Sampa”, the second biggest bank in Saudi Arabia in terms of market value, said that it profits during the fourth quarter have risen by 1.8% “$254.7 million”, a percentage less than what was expected by economic analysts.
- Minister of Industry and promotion of Algerian Investments, Abdul Hamid al Tamar, said that his country intends to privatize 100 governmental companies during the first half of this year.
- The holding “Arabitc” company has achieved profits estimated at 494 million dirhams during the fiscal year which ended on the 31st of December 2007 compared to 217 million dirhams achieved in 2006.
- Al Arabiya Airlines Company, the biggest economic airlines company in the Middle East, said that the capital of its joint project in Nepal “Yeti for International Airlines” is estimated at $50 m.

Exhibitions

- Kuwait is due to host the exhibition of Travel World-2008 on the 14th of next May with the participation of 28 local and international companies from Iran, Azerbaijan, Cyprus, Egypt, India, Germany, Lebanon, Morocco, South Africa, Tunisia, Turkey, Zimbabwe and Syria. The Kuwaiti news agency “Kuna” said that the number of reservations in the exhibition have exceeded 70%.

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.