Will the Golden Age of Oil Come To An End?

Oil prices reached yesterday $ 135 per barrel, hitting a new record, but in this golden age of the black gold, a question should be asked: when will this golden age, which is followed, historically speaking by the Age of Fall, come to an end? _ Since now, oil supplies have become a source of worry for the world, and part of the reason behind the rise of oil prices is the fact that oil has become, gradually, an accommodation which is witnessing less and less demand, as 400 oil fields around the world are being depleted, according to an initial study prepared by the International Agency For Economic Energy which did not hide its worry that there is no longer enough oil to satisfy the thirsty world for it.
For his part, "Fatie Perol", Senior Economic Expert in the International Agency said that : "the reason behind carrying out this study by our Agency , which its results will be published next November ,was the worry of the fact the oil market might evaporate, that the quantity of demands are not certain and that the shortage of oil means necessarily more surging prices on all levels, starting from gasoline and ending in food stuff prices.

"Emaar-Egypt" Launches Its Selling at the Two Projects of "Marasi" And "Ape Town -Cairo"

Emaar- Egypt company for Development, owned completely by the real estate " Immar" company that it will launch the selling of a group of housing units within the two projects of " Al-Marasi" and Ape Town Cairo" in every selling centre down town The Tower of Dubai City , as well as at " Immar" selling centre in "Abu Dhabi" on the 24th off this month.
The housing units proposed for selling comprise a group of luxurious flats and villas in addition to "Town Homes".

The Holding "Sham" Company Receives the Project of Al-Karnak"

The Council of Lattakia Governorate has handed the Holding " Sham" company a tourist site, east of the Blue Coast resort , north of the city for holding a tourist project.
A source at the Council of Lattakia Governorate has said that the total cost of the project is estimated at one billion and 275 million S.P. , to be carried out throughout fou years. The project comprises a 4- star-hotel on the coast with 74 rooms, 28 suits, , and 150 tourist units equipped with different spaces for different purposes, a health club, a cafeteria, restaurants, trade markets, a multi-purpose hall, a swimming pool with its equipments , and a car rage for cars.

A Corrective Movement at Qatar Financial Market

The Qatari Financial Market witnessed on Thursday a corrective movement, hitting a record in terms of decline estimated at below 12000 points. The Qatari indicator failed in preserving its level above 120000 points which it exceeded this week, losing at the concluding session 239 points, which equals 1,96 of its value, and closing at a level of 11970 points in a corrective movement following a long period of rising.

$ 60 Billion Transformed from the Gulf into Asia

The volume of Gulf investments resulting from the financial surplus is still weak, east of Asia area, in general, and in China, in specific, compared to other areas.
The International Institute for Financing estimates that $ 60 billion out of $ 1, 4 trillion, the total surplus of the 6 GCC countries went to Asia, whereas the larger part of it went to the U.S. and Europe with a volume of $ 300 billion for the first and $ 100 billion for the second.

$ 1, 4 Billion, the Outcome of Palestine Conference on Investment

Palestine Conference On Investment concluded its activities yesterday by announcing that investment agreements have been signed between the Palestinian Authority, on the one hand, and businessmen, investors, the Public Sector in the Arab World, Europe, and America, on the other , with a total value estimated at about 4 one billion and 400 million . For his part, Palestinian Prime Minister, Salam Fayad has said, in a speech he delivered at the end of the conference, that the agreements signed will offer 50 job opportunities for the Palestinians.

Small Indexes

- Gold prices at London dealing session held yesterday morning has been set by a value of $ 922,25 per ounce compared to $ 911,75 at the previous evening session
- The Turkish Minister of Tourism has said that the number of tourists who visited Turkey this year has risen by 8, 35% last April, reaching 1,648 million visitors
- The Iranian Economic Consultant in Turkey " Ahmed Nourani" that a lpermission has been granted for the entrance of 1000 cars of " Sorn" model to the Turkish market.

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.