HomeArabArtFinanceEducationLebanonMediaMiddle EastPersonal Politics ReligionScienceSocietyTechnologyUSAWorld

Tarek Hoteit Notebook    profile|contact

Tuesday, May 31, 2005

Lebanon's markets unmoved by Beirut elections

The Daily Star reports that Lebanon's financial market was largely unmoved by last Sunday's parliamentary elections for the district of Beirut. "The results of the election have already been discounted by the market...that's why nothing has changed", the newspaper quoted a local currency dealer saying.

Labels:

Monday, May 30, 2005

Bahrain Mutual Funds is growing

Mutual funds in Bahrain has grown significantly by the first quarter this year. 1,657 mutual funds (only 64 are locally-incorporated funds) representing $5.3 billion in assets under management where recently authorized by the Bahrain Monetary Agency, BMA governor was reported saying. 64 of these were locally-incorporated funds, representing more than $1.3 billion in assets under management. Even through volume of Islamic funds was small compared to the conventional mutual funds (number of Islamic funds was 62 with $445 million in assets) but average growth of such funds was seen as 20 per cent each year for the past 5 years.
The governor was also quoted saying:
"the global market for Islamic investment funds is estimated to include over 100 funds, managing assets of over $5 billion with growth rate of around 15 per center a year."

KhaleejTimes.com highlights the opening session speech given by Governor of Bahrain Monetary Agency (BMA) Rasheed Al Maraj that prospects of growth in mutual funds industry in the MENA region seems exceptionally positive, challenges still lie ahead for this sector to be fully realized and to maintain its competitiveness, "Islamic funds cannot be sold solely on the basis that they are Shariah compliant."

Labels:

World Islamic Funds Conference

The first World Islaminc Funds Conference is being held in Bahrain (29-30 May). With 200 delegates from 24 countries, the the main focus of the conference is to bring together international investors and asset managers from the global Islamic finance industry in order to discuss the multi-billion Islamic Funds market. Islamic funds in the booming Gulf real-estate sector will be the main topic. Quoted from AME Info, "Bahrain, for instance, has tenders or projects in the construction industry valued at more than BD 4 million (US$ 10.7 billion)."

Other discussions at the World Islamic Funds Conference would include Hedge Funds, Asset and Wealth Management as well as investing in oil, gas and mining industries.

Labels:

Sunday, May 29, 2005

People's Daily Online -- French voters reject EU Constitution

The French people have rejected the EU Constitution.

Labels:

Unemployment high among Palestinians in occupied territories

International Labor Office released a report on Palestinian labor conditions in the occupied territories. According to the report, despite domestic output grew in 2004 after four years of recession in the Palestinian economy, unemployment rate is close to 26 percent (224,000 people), less than half of all men of working age and just 10 percent of women of working age are employed; youth unemployment is alarmingly 40 percent among 15 to 24 years old, and one in every 15-24 years olds and over half of those aged 25-29 are forced in "idleness, that is neither studying nor in employment." Moreover 57 of workers received monthly wages that is not enough to lift a family of two adults and four children above the poverty line. Click here for the complete report.

Labels:

Friday, May 27, 2005

Foreign Affairs - Freedom and Justice in the Modern Middle East

Prestigious Foreign Affairs magazine published online an essay, titled "Freedom and Justice in The Modern Middle East" adapted from a lecture given by Bernard Lewis, a Professor Emeritus of Near Eastern Studies at Princeton University.
The site summaries the article as follows: "To speak of dictatorship as being the immemorial way of doing things in the Middle East is simply untrue. It shows ignorance of the Arab past, contempt for the Arab present, and lack of concern for the Arab future. Creating a democratic political and social order in Iraq or elsewhere in the region will not be easy. But it is possible, and there are increasing signs that it has already begun."
NASSER NASSER / THE ASSOCIATED PRESS

Labels:

Thursday, May 26, 2005

Lebanon set to recover from near-zero growth

The Daily Star newspaper highlights a report released by Bank Audi-Saradar that Lebanon's latest political changes, prospects for investments by Gulf countries and country's own handling of foreign reserves will let the country arise from a near-zero growth in the first quarter of 2005. 'Lebanon is "on the eve of a historic reform opportunity' which could boost foreign investment and shave the public debt to 130 percent of GDP in four years - down from around 100 percent today.", the report says. Economists are having an optimistic look over Lebanon but a senior economist at the World Bank is quoted by the Daily Star article saying: "We have to wait until after the elections to see where the country is willing to go in terms of economic reforms."

Labels:

Wednesday, May 25, 2005

Consumer confidence improved in the MENA region

MasterCard International conducted a bi-annual survey on consumer confidence in Egypt, Lebanon, Saudia Arabia, United Arab Emirates, India and South Africa. AMEInfo.com reports on the results as follows: Kuwait, Saudi and UAE consumers remained highly optimistic (score > 90) in terms of "Regular Income", (the) "Economy", "Quality of Life", "Stock Market" and "Employment". Egyptian consumers showed the highest improvements in consumer confidence (score 60.7) compared to preceding periods (scores less than 40). Lebanese consumers (score 44.0) remain the most pessimistic.
More on this at AMEInfo.com.

Labels:

Tuesday, May 24, 2005

Arab Business Women looks at economic development issues

Syria's first international women's business conference opened at the Omayyad Conference Palace outside Damascus. The conference is organized by "Women in Business International" and the British-Syrian Society and Modernizing and Activating Women's Role in Economic Development (MAWRED). Both organizations provide networking events between Arab and international business women. Syria's first lady, Asma Assad, stressed on importance of country's reforms and transparency in order to attract foreign investments that enables Arab economies to flourish. She also said that Syria is improving its educational system. Former Pakistani Prime Minister Mohtarma Benazir Bhutto then discussed the challenges facing women in Muslim societies.
"My message to delegates, to career women, to business women is don't take no for an answer, " said Bhutto. "This conference in Damascus on women in business this morning gives me great confidence. The number of women in business, in politics is increasing. I have great hope for the future."
More on this at Daily Star's article.

Labels: ,

Monday, May 23, 2005

Arab countries must reform quickly

With the end of the 3-day World Economic Forum (WEF) in Jordan, Daily Star reports "regional leaders to respond to popular demand for economic and political reforms". Region's population to double in the next 30 years and it is currently receiving one percent of foreign investments. The region should act fast enough to catch up with the rest of the world. The article also highlights the Vision 2010 agenda that sets four ambitious 2010 targets: "privatization, free trade, labor reform and developing the business environment." This is expected to establish an economic growth rate of six to seven percent a year.

Labels:

Sunday, May 22, 2005

Middle East to Attract $300billion investment funds

At the World Economic Forum in Jordan, director-general of Dubai's Department of Economic Development told business leaders that the Middle East will attract global capital of $300 billion dollars over the next decade.

Labels:

Arab World Up Beat About The Future

MENAFn.com reports that a Gallup survey, presented at the World Economy Forum, shows that the Arab people are generally optimistic about the future. Those who were employed, feel safe with their present jobs, but changing jobs would be difficult. On the other hand, wars in the region and fears for the economy is their greatest worry this year.

Labels:

Saturday, May 21, 2005

Arab women face widespread lack of freedom - study

SiwssInfo.org reports that a study distributed at the World Economic Forum regional meeting in Jordan concluded that Arab women face a pervasive lack of freedom in the Arab world.

Labels:

Friday, May 20, 2005

World Economic Forum - Jordan - Economic reform a 'necessity' for Arab world

World Economic Forum (WEF) will open today at the Jordan shores of the Dead sea. Major part of this three-day forum would focus on exploring major reforms that enhance competitiveness, lead to sustainable growth and create jobs for millions of our Arab youngsters.

Labels:

Thursday, May 19, 2005

In Britain: Police Office told a youth: 'I'll smash your f****** Arab face in'

From TimesOnline, check the partial transcript of an exchange between a British police office and 16-year old boy in West London, where the office says: "'I'll smash your f****** Arab face in"

Labels:

Wednesday, May 18, 2005

Arab Children and Youth - Have Your Say

MENA conference on our Arab youth, "Urban Children and Youth in the MENA Region: Addressing Priorities in Education" has started in Dubai.
Quoted from AME Info: "World Bank urges MENA officials to work on behalf of children and youth".



In another AME Info article highlighting live discussions with the region's youth generation, a young participant said:
"We youths are not the citizens of tomorrow. We are citizens now. Our voices have to be heard and city officials should make it a point to plan the city that is friendly to youth"

Labels:

Monday, May 16, 2005

Arabian Circle : what do you think of the blog?

What do you think of this blog? What do you like to be added or discussed? discuss Arabian Circle

Labels:

The Daily Star - Oil industry sees prices going higher

The Daily Star newspaper reports that Oil industry sees prices going higher

Labels:

Thursday, May 12, 2005

Arab technology to help visually impaired mobile people

ITP.net publishes an article about Talks product, developed by a non-profit organization - Tamkeen, that helps visually impaired phone users with their mobile lives. The software helps them with mobile calls, e-mail and text messages.

Labels:

Wednesday, May 11, 2005

Customers vote Air Arabia Best MENA Airline | Air Arabia

Customers vote Air Arabia Best MENA Airline

Labels:

Tuesday, May 10, 2005

21st century world still needs Saudi oil

United press International discusses a report from a prestigious company that the world will depend more on Saudia Arabia for its oil needs, and the Kingdom's reserves are big enough to meet such demand.

Labels:

Investors' behavior change needed to match the growing maturity of Gulf capital markets

AMEInfo: Investors' behavior will need to change to match the growing maturity of Gulf markets.

Quoted from AMEInfo:
"The positive momentum driving primary and secondary capital markets in the Gulf region, fuelled by high oil prices, gradual liberalization and diversification at the economic level, and the number of private companies going public, is expected to continue through 2005."

Labels:

Monday, May 09, 2005

American University of Beirut starts first Mideast corporate governance program

The Daily Star - American University of Beirut starts first Mideast corporate governance program. Corporate governance studies how corporations would run. We hope this helps in attracting investors to Arab corporations and projects.

Labels:

Thursday, May 05, 2005

Burj Al-Arab named Middle East Hotel of the Year

Burj Al-Arab named Middle East Hotel of the Year | DEPA

Labels:

First Arab American Museum Opens!

First Arab American Museum Opens!

Labels:

Wednesday, May 04, 2005

Shell clinches multi-million dollar gas exploration deal with Libya

The Daily Star - Business Articles - Shell clinches multi-million dollar gas exploration deal with Libya

Labels:

Monday, May 02, 2005

Makkah Al-Mukaramah in 2010



Labels:

Sunday, May 01, 2005

Youth and children's issues to be discussed in international conference

In cooperation with Arab Urban Development Institute, the World Bank and UNICEF, a conference, titled "Urban Children and Youth in the MENA Region: Addressing Priorities in Education" will discuss Youth and children's issues in Arab world. It will be held in Dubai during 16-18 May 2005.

There will be several discussion sessions each day, but one session worth noting: a dialogue between Youth, Municipal and National Authorities where Youth will moderate the discussions, with children participating from West Bank-Gaza, Sana'a, Rabat, Cairo and Dubai through video-conferencing. First signs of effective usage of technology in assisting with solving our own Arab issues today.

Labels:

Twitter

    follow me on Twitter
    Tarek Hoteit