TecSAR Satellite for Spying against Iran

Israel launched yesterday a satellite by a local production by the name TecSAR with the aim of spying against Iran. This satellite will be, according to officials, able to record and monitor events in Iran under all climate conditions. The satellite, manufactured by the Israeli company for space industries, will be run by a special raider system that will provide better vision than that provided by the satellite Ovec which runs by cameras, whereas the system of photographering according to which TecSAR is operating, and which is called the technology of SAR, will make it very advanced. Analysts think that Texar is of a high importance for Israel, especially that it is able to monitor Iran’s activities with regard to its nuclear program. The satellite, the first of its kind in Israel, was launched by an Indian rocket and from an area located south east of India. The cost of manufacturing the launching the satellite was estimated by more than 10 millions of dollars, according to officials who pointed out that it would be possible to analyze the materials the satellite sends within two weeks.

Abu Dhabi Intends to Invest $ 15 bn in Projects for Producing Clean Energy

Abu Dhabi Emirate, one of the richest exporters of oil in the world, said that it will invest $15 bn in projects for producing clean energy and decreasing carbon emission which causes climate change, in addition to projects of solar and hydraulic energy, wind energy, sustainable development, education, industry and research.

Kuwaiti Businessmen Discuss Prospects of Investment in Syria

The meetings of the Syrian-Kuwaiti Technical and Trade Committee have started in Damascus with the aim of discussing throughout four days means of increasing the volume of trade exchange, developing and increasing volume of export, cooperation in the field free zones, the agreement of World Trade Organization, promoting and activating tourist activities, custom, and domestic trade. The Kuwaiti delegation asserted Kuwait’s interest in developing its economic relations with Syria and increasing the Kuwaiti investments in Syria which exceeded $1 bn. It is worth mentioning that the volume of the Syrian exports to Kuwait in 2006 has reached $120 m, with an increase of 35%.

40%, the Volume of the Arab-Arab Tourism

A report issued by the Arab Federation for Hotels and presented to the Arab League has revealed that the Arab-Arab tourism did not exceed 40%, whereas 60% of Arab tourists head towards destinations other than Arab countries. The report further added that the European-European tourism is estimated at 88% and that only 12% of tourists head to destinations outside Europe.

A Conference in Dubai to Urge the Private Sector to Support Sustainable Development

Arab officials have urged thousands of thousands of working companies in contributing to push forward the cycle of sustainable development in the Arab region with a total number of illiterates estimated at 100 million. It is expected the number of the unemployed to reach 25 million persons till 2010. This came during the conference of “The Prospects and Aims of Arab Donation” organized by the foundation of Mohammad Bin Rashed al Maktoum located in Dubai. The participants will discuss the reality and future of social domination in the region and means of increasing the revenue of charitable work in supporting the efforts of Arab development.

Small Indexes

- The American Minister of Energy urged yesterday the oil producing countries to increase its production of crude oil before convening the conference of OPEC next month.
- Indicators of the Gulf shares declined yesterday amid worry that the US would face depression which would pushed the investors to sell in the high dangers markets like Dubai, Qatar, and Abu Dhabi.

Bids

- The Qatari Investment Commission, which runs investments estimated at $60 million, is considering the possibility of buying shares in companies of financial and construction services in the USA and Europe.

Companies’ Indexes

- The volume of science offered by the Qatari National Bank has reached 66 billion riyals, 54 among them in Qatar, whereas the bank’s share in the local market is estimated by 40%.
- The Saudi al Ahli Trade Bank, the second biggest bank in the Gulf in terms of assists, said that its net profits have declined by 14.9% during the second half of 2007 compared to the same period of last year.
- The Saudi-French Bank said that its profits during the last quarter of 2007 have increased by 10%, which is under expectations by analysts.
- Newly issued newspaper reports have revealed that the holding al Mehwar Company has been established by a capital estimated as 1 million Kuwaiti dinars distributed among 10 million shares with a value estimated at 100 fils per share.

Exhibitions

- The Egyptian capital Cairo is due to host between 24-27 of next February Cairo Exhibition for Telecommunications and Technology of Information “Cairo ACT-2008” in its 12th session.
- The International Fair Ground in Damascus is due to host between 25-29 of this month an exhibition for the biggest 200 companies of the Iranian companies of trade and industry.
- The fourth session of the exhibition of “Steel Fab-2008” and the exhibition of the technology of steel was opened yesterday in the fairgrounds in al Sharja expo-center. More than 400 international companies from 30 countries took part in the exhibition with the aim of exhibiting the latest on the technology of “Steel and Iron Industry in the World”. It is worth mentioning that the two exhibitions will last till the 23rd of December.

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.