Inflation Worry

The US dollar witnessed yesterday another blow despite the announcement by the Head of the American Federal Reserve, Bin Bernnkay who said that his country is not even close to the recession of 1970, but these assurances went astray, and the American dollar continued its decline against the Euro on Friday, losing more value and paving the way in front of the Euro to record $1.5283 in a unique historical precedence. Some experts explain this new set back by saying that the markets might have lost their response to Washington’s attempts to assure the world with regard to its economic situation. Some observers say that the slowness of the American economy which co-insides with the continuous increase of prices might lead the country towards a complex economic crisis known as "The Inflational Recession", which means that the growth rate declines opposite to the increase of prices, in addition to the loss of the capitals which migrate to markets which offer better revenues. Up till now, the American economy has not reached the inflational recession, but there is a growing worry, which some times is enough to make recession come closer.

Tourist Project with a Total Value of 30 billion Dirhams in Marakesh

King of Morocco Mohammad the Sixth has announced that big tourist projects will be launched in the country with a total value estimated at 30 billion dirhams in Marakesh city, among them the development of the project of al Shariefia which requires investments estimated at four billions and 600 million dirhams which will be carried out within the framework of partnership between the Emarati Sama Dubai Group and the General Real Estate Company affiliated by the fund of deposit and management for development.

Skiing Sites in the Syrian Bloudan City

A team of the Syrian Ministry of Tourism is working on setting up a detailed study of means or recovering programs of winter tourism in Syria in implementation of the tenth five-plan. The study includes creating areas specially for skiing sport in more than one site around Bloudn city in the Syrian countryside and also in Arneh village.

The Emarati Telecommunications Company Cooperates with the International Akami Company

The unit of operators and sellers services affiliated by the Emarati telecommunications company has announced that it will cooperate with Akami Company for Internet Services, according to which the latter will provide Emirates Internet Department with its servers with the aim of promoting and enhancing the services of the department and offering the clients better services.

Small Indexes

- Head of the American Council for Federal Reserve "The American Central Bank" expressed his trust that the funds of sovereign wealth will invest in the American companies out of economic motivations.
- OPEC has preserved the averages of its official production without any change throughout many months. There are indications and signs that it will adopt that once against during its meeting to be held next week an effected by the big increase of oil prices.

Companies’ Indexes

- The Spanish Real Estate Colonial Company said on Friday that it recorded net profits estimated at 85.4 million Euros "$129.7" in 2007.
- Sand Disk Company in cooperation with the Japanese Toshiba Company will produce Memory Card – Flash Nand 3 with a capacity of 16 Gega Byte which use the technology of 56 Nanometer.


- The Libyan capital has witnessed between 26-28 of this month the activities of the tenth session of the conference and exhibition of the Mediterranean for oil and gas. The exhibition witnessed the latest equipment and technologies used for exploring and manufacturing oil and gas with the participation of 18 specialized companies.
- Iran has held lately in Abidjan the first specialized exhibition with the participation of fifty private and cooperative companies in the fields of producing agricultural equipment, transformational industries, food stuff industries, carpets, handmade industries medical industries and equipment.

Indicators is a daily economic watch newsletter about the Near East, issued by New Orient News agency in Beirut, Lebanon. It is available on 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.