The US Uses Its Diplomatic Strength for Carrying Out the Project of Nabucco Pipeline

The US Uses Its Diplomatic Strength for Carrying Out the Project of Nabucco Pipeline

The US has used its diplomatic strength behind the project of Nabucco pipeline which is facing a deadlock which aims to transport gas from the Caucasus basin to the Central Europe. Matthew Pereza, Deputy Assistant of the American Secretary of State said that Nabucco pipeline will be built, I am sure of that because it has a great feasibility, from a trade point of you. He asserted that Nabucco pipeline is no less important for the US with the aim of helping its European allies to diverse sources of supplies and to stop depending on Russia. He further added that the pipeline which is 3300 km, which process Turkey to Central Europe will be less cost for transporting gas from Azerbaijan to Europe compared to the competitive pipeline South Stream which the Russian Gaszprom Company calls for building it. He concluded by saying that Nabucco pipeline, which six companies will start building next year with a total cost of $6 bn will transport gas from North and South of Iraq in addition to Azerbaijan and the fields of the Caucasus Sea.

Syrian Tourist Investment Exceed $3 bn in Two Years

The Syrian Ministry of Tourism has announced that the volume of tourist investments implemented during the last two years have reached 176.8 billion Syrian pounds which equals $3 bn and 520 million, 26.8 billion from it have been invested and under service and 150 billion is under construction during the coming three years.

The Increase of the Capital al-Doha Company for Insurance by 41%

The Qatari Ministry of Economy and Trade has approved on increasing the capital of al Doha Insurance Company by 41.46% through offering 5.276 shares with a total value of ten riyals per share. The company will also provide the customers with insurances against fires, medical insurance and insurances for products and other services.

The Increase of the Profits of the Kuwaiti Telecommunications Company by 50% in 2007

The Kuwaiti Telecommunications Company "Ittisalat" has announced the results of the fiscal year of 2007, recording net profits estimated at 80.7 million Kuwaiti dinars, with an increase estimated at 50% compared to 2006. The administrative board of the company said that the total revenues of the fiscal year have reached 407.6 million Kuwaiti dinars with an increase of 26% compared to the total revenues of 2006.

Small Indexes

– American officials said on Friday that the US intends to announce that it will offer new aids with millions of dollars to the West Bank and Gaza Strip next week.
– Iranian Assistant Minister of Oil Mansour Mazami has asserted that Iran will become soon an exporter of gasoline and petrol by the end of 2012.

Companies Indexes

– Chairman of Iran Khodro Company, the biggest cars companies in the Middle East, said that Chinese measures for decreasing the banking dealings with Iran would have negative impacts on cooperation between his company and Chinese Cheri automobile company.
– The Qatari al Diyar Company for Real Estate Investment intends to start carrying out the project of resort of Ibn Hani in Lattakia later this month with a total cost estimated at $250 m. It is considered the first project for the company in Syria.