9,3 Billion Syrian Pounds, the Insurance Installments in Syria

The Syrian private insurance companies have promised to hire about 3200 persons by the end of this year. Those companies with only two years in the market allocated last year nearly 4 billion Syrian Pounds as insurance installments , the large part of it were in the sector of health insurance which grew by 208%, followed by the sector of life insurance which witnessed a growth estimated at 625 compared to last year.
This indicates that the insurance awareness has started to spread among the Syrian public, and that the interest of the people in the private Syrian companies is evident, not mentioning the fact that these companies have begun to spread more and more in the market, despite the fact that that the General Syrian Establishment for Insurance remained in control of the market with a total volume of installments that reached 5,5 billion Syrian Pounds. The question is: will the private insurance companies be able to have the upper hand over the public insurance companies, especially that those companies enjoy enough flexibility to adopt themselves with the conditions of the market more than the public establishment.

The Real Estate “Emaar” Company Adds the Final Touches for “Dubai Mall” Project

The real estate “Emmar” company has said in a statement that it is adding the Final touches for many parts of Dubai Mall project, which is being developed to be one of the biggest market and entertainment destination in the world. Dubai Mall is considered one of the most important part of a project which is being carried out in the middle of Dubai Tower which “Emaar” is developing with a total cost estimated at 73 Billion Dirham.

$200 Million for Developing the Iraqi Telecommunications Sector

The Iraqi Telecommunications company has allocated 4 200 million for carrying out a number of projects aiming at developing this pivotal role in the country. A senior official in the Ministry said that the projects to be implemented during the coming period include the reconstruction of the destroyed buildings and rehabilitating the land phone network, adding that the ministry plans to contract with Ericson and Z.T.E companies for providing it with operational centers.

Orascom Buys “al-Masria” Company for Cement in Return for $ 1,6 Billion

The Egyptian “Orascom” company for Construction and Industry has announced that it concluded a deal for acquiring the Egyptian company for Cement in return of $ 1,59 billion.
Sources at the Egyptian stock market have pointed out that the deal included the selling of the Egyptian company for Cement by the Emirati “Capital Towers” to A coalition led by “Orascom” Company for Construction and Industry.

$1600 Billion, America’s Expenditure on Arms

The American Ministry of Defense has spent a record on armament that reached 7 1600 billion, which is the biggest budget ever in 20 years, according to a report issued by the American Accountant Department, which added that the costs of 72 programs for manufacturing jetfighters, warships, and satellites has exceeded the original budget in 2007 by $295 billion.

Small Indexes

- Statistics of Bahrain Central Bank have revealed that the volume of assets in joint investment fund has increase by 73%, reaching $6, 15 billion in 2007.
- The volume of selling the American cars witnessed a decline last month; at a time manufacturers said that 2008 will be the worst for this industry.

Companies Indexes

- The Group of Emirates Mail and Ajman Sports Club has launched three trade centers in Ajman Emirate with a total cost estimated at 100 million Dirham.
- The Executive Chairman of the Iranian “Iran Khodro” for cars manufacturing has announced that his company will produce this year more than 600000 cars of different models of cars opposite to 532000 manufactured last year.

Bids

- “Bio-Tech” company for Information Technology has signed a partnership agreement with IRIS , based in Switzerland, for producing high-tech joint solutions and well-known all over the world for the activities in the banks, insurance, and big institutions sectors.

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.