The Gulf Financing House Achieves Net Profits by $ 116 Millions

The Gulf Financing House has said that it achieved an unprecedented results during the first quarter of 2008 , reaching $ 116 million , with an increase estimated at 61% compared to the first quarter of 2007 .
Moreover, the assets have risen this year by $ 2,577 million , with an increase estimated at 8,14% compared to the previous quarter , whereas rights the contribution reached $ 790 million .
It is worth mentioning that the revenues of the shares prices during the first quarter of 2008 have reached 14,68 cents compared to the revenues achieved during the same period of last year which reached 9,08 cents per share.

Emaar Grants Bin Laden Group a Contract Estimated at 104 Billion Riyal

The Saudi Branch of the real estate Emaar Company concluded yesterday a building contract with Bin Laden Group estimated at 1.4 Billion Riyal.
In statement, Emaar said that Bin Laden Group will build , according to the contact, 16 housing towers in its project " Qariyt al-Bailasan".
It is worth mentioning that Emaar is leading the project of the economic city of King Abudullah on the Red Sea , which the government says that " it might attract investments estimated at one billion Riytal.

Egypt Expects Revenues by $ 12 Billion From Tourism

Egyptian Minister of Tourism. Mr. Zoheir Garana said on Saturday that his country hopes to increase its tourist revenues by about $ 12 billion by 2011.
According to a plan launched by the Egyptian Ministry of Tourism, Egypt hopes to receive 14 million tourists in 2010 , which necessitates providing 240000 rooms.
Furthermore, the Egyptian minister expressed Cairo’s wish that the plan would urge the investors in the private sector to contribute in financing it

Syrian Tourism is Improving: A Report by the International Council of Travel and Tourism

A report issued by the International Council of Tourism and Travel on tourism in Syria in 2008 said that the indicators have shown an improvement compared to the expectations in 2007.
The report further said that Syria has moved forward into position 76 after it was in the position number 78 out of a total number of 176 countries, according to the average of tourism economy with regard to the national economy.
The most obvious improvement was achieved in the list of the countries according to the tourist activity with regard to the national economy , as Syria moved from position 61 to position 48 worldwide out of a total number of 176 countries which reflects a significant contribution of the tourist sector in the Syrian economic activity compared to other countries.

Companies Indexes

- BMW Group, the giant German company in the industry of luxurious cars has announced that it profits dropped during the first quarter of this year as a result of the international financial crisis and the slow world economic growth.
- General Motors company has announced that the volume of its selling during the first quarter of this year has reached about 2,25 million cars , by a decline estimated at about 0,06 %. Compared to last year.

Small Indexes

- Chairman of the World Bank Robert Zoellick has asked world countries not to impose an embargo on the exports for facing the intwernational food criss , adding that these decisions would mae the situation more worse.
- Algerian Minister of Finance, Karim Djoudi has said that the government has allocated 168 billion Dinar ($ 2,5 Billion) for subsidizing prices of the basic food stuff for this year.
- Tourism sector in Singapore has hit a record in 207 in terms of the number of tourists as well as tourist revenues estimated at $ 10,3 Billion.

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.