100 Million Dinars, the Volume of Trading At The Market of Watches

The Kuwaiti Al-Kabas newspaper has said in its edition published yesterday that the volume of trading at watches market in Kuwait has reached 100 million Dinars annually , whereas the average of growth rate has reached between 10 – 12 % per year.
What is meant by trading at the market is what has been sold by retail, in the sense that the volume of imported quantities is much bigger, according to big traders and agents of watches companies in Kuwait. Despite the economic dimension of the news, it also signifies psychological dimensions represented by the increasing interest on behalf of the Arabs, in general, to buy watches in return for continuous and ever lacking of sense of the importance of time, starting from the long – term plans for improving the living conditions of the Arab citizen and ending in the dates and schedules being set which have become a negative example with regard to precision. Thus, the question that must be raised here is: why are Arabs keen on buying watches??!

Jordan Hosts The Annual Conference for The Integration of Media and Telecommunications

The 5th annual conference for the integration of mass media and telecommunications is due to be held on the 2nd and 3rd of next June in the Jordanian capital Amman under the patronage of Jordanian Minister of Telecommunications and Information Technology, Mr. "Basem Al-Rusan". The conference comes at a time Arab markets of telecommunications and mass media are witnessing more prosperity and growth, and also at a time these markets are witnessing fierce competition, according to the "Group of the Arab Guiders", The Researches and Organizing Regional Conferences, affiliated by the Arab – Jordanian Investment Company.

The Islamic Development Bank Establishes a Centre for Developing the Bahraini Exports

Bahrain’s Chamber of Trade and Commerce has signed an agreement with the Islamic Bank for Development for financing and setting up a feasibility study of the project of establishing a centre for developing and increasing the volume of non – oil exports in the Kingdom of Bahrain which enjoys a strategic location, enabling it to reach markets with a volume of exports estimated at more than $ 400 million.
It is worth mentioning that the Islamic bank is owned by the Islamic countries , with about 56 countries worldwide as members in it , among them Bahrain which has been granted fundings from the bank with a total volume estimated at $ one billion , $ 67 million of it for building " Setra" bridge.

Malaysia Sets a Plan for Attracting 400000 Arab Tourists in 2008

The Malaysian Ministry of Tourism has inaugurated it first Arabic web site, as it has adopted a new strategy aiming at attracting about 400000 Arab tourists from the Middle East in 2008. The new strategy also aims at holding new and special recreational and entertaining programs for Arab tourists starting from next July amid optimism of more growth rate in terms of the number of tourist who will visit Malaysia form all over the world. It is worth mentioning that Malaysia has launched also its promotional campaign via media in the Middle East.

Syria Takes Part at Biong Yang and Seoul Exhibitions

The 11th session of the International Biong Yang Exhibition was opened with the participation of the Syrian Arab Republic. The Syrian pavilion in the exhibition is organized by the General Establishment of Exhibitions and International Markets in Syria, comprising a number of samples and examples of the Syrian industries and products from both the public and private sector, in addition to brochures and tourist promotional booklets. Taking part in the conference a number of countries among them: China, Russia, France, Switzerland, Indonesia, Poland, Vietnam , Italy, in addition to Syria and North Korea.

Dolphin for Energy Intends to Loan $ 3, 45 Billion

A source at "Dolphin" Company for Energy has said that the company located at Abu Dhabi intends to have a loan estimated at $ 3, 45 billion at least for helping in moving the company forward to the second phase, adding that it appointed "Royal Bank of Scotland" as a advisor. It is worth mentioning that the project of "Dolphin" which connects the giant Qatari " Al-Shamal" field with the UAE and Oman is the first crossing- borders gas project in the Gulf region. For his part, the General Director of the project said that the total costs of the project are estimated at $ 4, 8 billion, and not $ 3, 5 billion as it was estimated before.

Small Indexes

- Governmental expectations issued yesterday have shown that Abu Dhabi expects an increase of domestic demand on energy by 80 % by 2012.
- The Egyptian Cabinet said that the Egyptian economy has witnessed a growth rate estimated at 7,5 % on an annual basis between January and March at a speed faster what the government’s expected.

Companies Indexes

- " Dana" Gas Company has announced its financial results during the first quarter of the fiscal year 2008 , recording revenues of oil and gas production estimated at about 272 million Dirham , with an average of growth rate estimated at 35% compared to the same period of last year.
- The Executive Chairman and the Deputized member of The Holding Al-Mazia" Company has said that the company owns about 30 companies affiliated by it which carry out all projects set up by the mother company.
- The Executive Chairman of the company "Immar Al-Madina Al-Iqtisadiya" (Construction of the Economic City) has said that the volume of the investment which the economic city of King "Abdullah" attracted during the first half of 2008 are estimated at 50 billion Riyals.

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.