The Era of Cheap Food Has Come to An End

Prices will not be as before ever, cheap food is no longer existing, criteria of poverty, the challenges facing the 3rd Millennium, and the ten goals of the World Development need reconsideration.
The previous criteria with regard to how many dollars one earns daily is no longer sufficient for those who do not gain their basic needs. This has almost become certain as many studies assert that the rising prices of food stuff is not a temporary phenomenon, rather it signals for a new era.
Moreover, a research report issued by the European Central Bank said that the high prices of food stuff worldwide might witness more rise on the short term and that it will continue rising on the long term, as supplies are not likely to cope with the ever increasing demand.
In addition to that, a joint report issued by the Organization of Economic Cooperation and Development and FAO has mentioned that the most poor countries will remain the most fragile and weak countries, especially those countries which import food stuff.
Consequently, these countries need financial and humanitarian aids so that they will not face famine and malnutrition.

Jumeirah For Real Estates Offers 70 Luxurious Villas For Sale in Juniper Way

Jumeirah Golf Estates offered in Dubai yesterday luxurious villas for sell at "Juniper Way" project. The project, being carried out by Jumeirah Golf Estates comprises 70 luxurious villas , comprising 4, 5, or 6 bedrooms.
It is worth mentioning that the sale will continue till next Friday at "Royal" hall in "Al-Qaser" hotel located at "One & Only Royal Mirage" in Dubai.

The Islamic "Saba" Company Gains Profits of 562000 Riyals

The Islamic " Saba" company said that it gained last year net profits estimated at 700 million and 562000 Riyals, opposite to 588 million and 811 000 riyals.
The bank further added in its statement for the fiscal year which ended on the 31st of December 2007 that the net profits per one share reached 157 Riyals last year, opposite to 174 Riyals in 2007.

3, 3 Million Subscribers in SyriaTel

Syrian businessman, and Chairman of the Administrative Board of "SyriaTel" Company Mr. "Rami Makhlouf" said that 2007 was a very unique and profitable year for "SyriaTel" on all levels, in the sense that the company achieved big revenues, with more than 25% compared to last year, adding that the profits per one share rose by 29%, reaching 100 Syrian Pounds .
Mr. "Makhlouf" further pointed out, during the annual meeting of the Ordinary General Commission of "SyriaTel" that the company is currently offering the service of mobile phones for more than 3 million and 300.000 subscribers, i.e. With an increase estimated at 800.000 subscribers in 2007.
It is worth mentioning that the average of those who get benefit from the services of Mobil phones in Syria is about 30% compared to the Syrian population, which is far less than the averages in the neighboring countries.

A French Delegation Concludes the Program Of Solidarity Tourism in Naples

A French delegation concluded yesterday a- three day tour in Naples city within the program of World Solidarity Tourism, organized by " Darana" Center in cooperation with European Solidarity Tourist Companies, especially the French ones, with the aim of gaining more support for Naples city re-make it an economic and cultural capital through the programs and activities being carried out domestically and internationally.

Tourist Activities Gain a Big Momentum in Lebanon

French News Agency has said that the announcement of re-launching Beiteddine festival as well as the announcement of re-launching Baalbeck , "Bint Jubail",
And Tyr festivals are all positive indicators of the revival of the tourist sector in Lebanon after it gained a big momentum following solving the political dispute, electing a new president, and restoring calm in the country.

Small Indexes

- Oil prices of future dealings rose yesterday, exceeding the barrier of $ 127 per barrel, as the decline of Dollars prices attracted investors looking for a tool to take precautionary measures against the weak value of the Dollar.
- The number of the Gulf tourists who visited Dubai last year reached 3 million with an increase of about 15% compared to 2006.

Companies Indexes

- Yemen & Kuwait Bank for Trade and Investment gained big profits in 2007 estimated at 582 million and 209000 Riyals opposite to 435 million Riyals gained in 2006.
- "Emaar Al-Madina Al-Iqtisadia" (The Construction of Economic City) company has signed a memorandum of understanding estimated at $ 200 million with the Saudi-Spanish Investment Fund for infra-structure, according to which the Fund will invest in a number of projects of infra structure at King Abdullah Economic City

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.