It Happens In Egypt

The Egyptian security forces took strict measures today aiming at banning a peaceful strike called upon by political and labor activities, calling for improving the living condition which has worsened following the increase of food stuff prices. The security forces surrounded the strikers at many points, the most important of which was “al-Tahrir” square, downtown Cairo, and the site of the Syndicate of Journalists.
Moreover, these forces stopped the people from reaching the already agreed upon gathering posts, taking very tight inspection measures, and arresting some. The result was that the strike, which was due to start at 11 O’clock, at Cairo Meantime, did not took place, but , as it seems , it posed many open questions to be answered in the coming days.
Despite all attempts on the behalf of the Egyptian government to politicize the peaceful strike, members of the Parliament have told the reporters that the issue is first and foremost an economic one, resulted from the wide popular complain on the surge of prices, and because of the fact that a lot of the Egyptian citizens do not get their basic rights on the economic level.

The National Dubai Emirates Group Offers an International Real Estate

The National Dubai Emirate Group has offered ” Emirates Islamic Package for International Real Estates( al-Mihfaza), for enabling the investors to invest in the international real estates in accordance to the Islamic Shara’.
“Al-Mihfaza”,( The Package) also aims at achieving a high and sustainable profits, as well as a long-term growth rate with regard to capitals through indirect investments in the international real estates and related real estate’s shares.
It is worth mentioning that “the Package” will be run by “Emirates for Financial Services” (IAS), the arm of the units of assets management at the International Dubai Emirates Group.

The Increase of The Profits of The Kuwaiti-Turkish Fund House by 109%

The Kuwaiti-Turkish Fund House (Beitak-Turkey) has announced that its annual profits for 2007 have risen by 109%, with the continuous rise of the averages of high profitability during the same year. General Director of the bank” Ufuk Iwan”, said that the total profits of the bank have reached 74 million Turkish Lira, adding that the volume of assets has risen by 32%, reaching 3,8 Billion Lira.

Microsoft is Fined $367,4 Million

A jury in San Francisco, California, has issued a decision against Microsoft Company stipulating on paying a fine estimated at $367, 7 for “Al-Catel Lo-Sent” Telecommunications company within the framework of trial of violating laws of licenses.

Talks of Integration Raises the Value Of Shares of “Aouda” Bank

Prices of the shares of the Lebanese “Aouda” banks have risen because of rumors that progress has been achieved with regard to integrating the bank with the Investment Bank- the Financial Group-Hermez.
“Aouda” bank, one of the biggest Lebanese banks has said on the 18th of last March that it was holding talks on the possibility of integrating the bank with the Financial Group, asserting that the talks were in their preliminary stage.

Small Indexes

- Former Pakistani Prime Minister, “Shawkat Aziz”, has told “Markets of the Middle East”, transmitted on CNN that opportunities of holding an economic cooperation between China and the Middle Eastern countries, in general, and the UAE, in specific, are very big due to the possible integration of roles with regard to producing goods, on the one hand, and addressing the demands for raw materials and the trade markets, on the other.
- Queen Rania of Jordan has launched her private site on the famous YouTube web site in an attempt to offer the youth with an opportunity to discuss issues related to the misconceptions on Arabs and Islam.

Companies Indexes

- The United “al-Khalij” Company has announced that it hit a record in 2007 in terms of revenues estimated at 515 million Qatari Riyal , following the expansion of the bank’s activities in many fields.
- 19 Saudi businessmen announced the day before yesterday the establishment of “Al-Qassem” Corporation for Construction and Development as ( a Joint-Corporation ) under establishment.

Exhibitions & Conferences

- The activities of the 4th Meeting and Forum for Tourist and Real Estate Development have started in “al-Madina al-Munawara” with the participation of 53 governmental and private bodies, and with different and varied activities of the participating companies, as well as the papers prepared by a number of bodies concerned in investing in tourist and real domains in the Kingdom.
- Department of Tourism and Trade Marketing has taken part in the Conference of Developing Cities- 2008 which concluded its activities lately at Regency –Hiyat Hotel in Dubai

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.