Tarek Hoteit Notebook

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Jihad El-Khazen writes in Al-Hayat newspaper that there's life in the Arab world today: "When my morale is high, I feel like the Arab nation is dying. When my morale is low, I feel like it’s dead. Then something reminds me that there’s still a pulse."

Labels: middle east

Posted by Tarek Hoteit at 8:51 AM | Permalink | Comments

MENAFn/The Jordan Times reports on a survey published by the Ministry of Higher Education in Jordan that only 10.7% of university staff in Jordan are women.

Labels: middle east

Posted by Tarek Hoteit at 11:16 AM | Permalink | Comments

Aljazeera.Net reports that the Lebanese government has just issued a decree that permits Palestinians born in Lebanon to work in a number of private-sector jobs. Palestinians refugees in Lebanon, ever since the creation of the Israeli state in 1948, were denied the right to work in Lebanon, a basic human right.

Labels: middle east

Posted by Tarek Hoteit at 1:51 PM | Permalink | Comments

Daily Star published an article on Arab immigrants and how data collected from U.S. Census Bureau in 2002 reveal that are Arab-Americans are better educated and wealthier than average Americans. Moreover the conclusion of the article is far more important than its findings: (quoted) "Arab leaders should be ashamed when they see their emigrants prospering in the United States while their own people are miserable."

Labels: middle east

Posted by Tarek Hoteit at 6:13 AM | Permalink | Comments

MENAfn reports on a study, prepared by the Arab Monetary Fund, that there is financial surplus in the Arab world which is not being exploited properly within the Arab region but leveraged within the international markets instead. The study points that main reasons behind such trend is lack of Arab financial institutions, regional politics and lack of incentives to invest within the Arab region.

Labels: middle east

Posted by Tarek Hoteit at 7:59 AM | Permalink | Comments

Daily Star reports from the AFP that an Islamic index for Malaysia's bourse, "Dow Jones Islamic Sharia Index" was launched yesterday in Malaysia. In cooperation betwen the Dow Jones Indexes and Malaysia's RHB Securities banking group, "this is a new milestone in the growing Islamic financial market", Malaysia's Central Bank governor was quoted saying.

Labels: middle east

Posted by Tarek Hoteit at 5:10 PM | Permalink | Comments

With the closing of the first Asian-Middle East Dialogue, themed as "Common Interests and Common Challenges", the Internal Herald Tribune notes the political, cultural and economic reasons why the Middle East is turning to Asia. What do you think?

Labels: middle east

Posted by Tarek Hoteit at 11:22 AM | Permalink | Comments

MENAFN posts an article from the Khaleej Times that bilateral businesses are taking place between Qatar and India. Qatar plans to invest in India's health care, pharmaceuticals and IT sector. It is already one of India's large customers for energy.

Labels: middle east

Posted by Tarek Hoteit at 11:30 AM | Permalink | Comments

A good article on China's economic powers and how it relates to America's free-trade policies is published on MENAFN. It is not Arab-related but it's worth to see how China visions itself in the years to come. Arab world should learn from China.

Labels: middle east

Posted by Tarek Hoteit at 12:26 PM | Permalink | Comments

The Daily Star reports on Malaysia's premier, Abdullah Ahmad Badawi, addressing an international Islamic trade forum. He is quoted saying that "Muslim world must focus on economic development". A preferential trading system will be signed by 14 of the 57 members of the Organization of Islamic Conference (OIC) in order to bring greater economic integration among those Islamic countries.

Labels: finance

Posted by Tarek Hoteit at 11:20 AM | Permalink | Comments

The Financial Times reports that a group of American business men are working on a plan to raise $500m to create an American-Middle Eastern trading company in Gaza after the scheduled Israeli pull-out this summer.

Labels: finance

Posted by Tarek Hoteit at 10:27 AM | Permalink | Comments

The Daily Star reports that at the Arab Economic Forum being held in Beirut, Central Bank Governer Riad Salameh projected that Lebanon's GDP will grow only 2 percent this year (it was 5% last year) and inflation would remain at 4 percent. This is a bearish sign for the Lebanese economy but Salameh and former finance minister, Foad Siniora, blamed the current political tensions for such economic weakness and are confident of a strong economic growth when the current political elections are over.

Labels: middle east

Posted by Tarek Hoteit at 5:36 PM | Permalink | Comments

Khaleej Times reports that Iran is the next China in terms of the potential of the Iranian economy according to Graham Dreverman, Vice President of Asset Management for Majid Al Futtaim Investment.

Labels: middle east

Posted by Tarek Hoteit at 7:12 AM | Permalink | Comments

The Daily Star reports on the Group of 77 plus China ministers currently meeting in Doha to discuss UN reforms and the economic development of their 77+China developing countries. Quoted from the article is G77 executive secretary Murad Ahmia saying, "Our objective is to consolidate South-South cooperation in the economic, social and ecological sectors ... in order to achieve development."

Labels: finance

Posted by Tarek Hoteit at 7:31 AM | Permalink | Comments

Bahrain Tribune reports that the first Islamic Investment Bank for Arab small and medium size companies and enterpreneurs will open in Bahrain soon. It will offer Islamic banking and shari'ah compliant services.

Labels: middle east

Posted by Tarek Hoteit at 9:39 AM | Permalink | Comments

The 11th Arab Economic Forum (AEF) will open in Beirut on the 16th of this month. It's main focus is discussing growth and employment opportunities in the Arab world. Forum Director, Faysal Abou Zaki, says that $700bn in capital investments is needed to fund infrastructure, oil and gas, petrochemicals plus other sectors, and 80 million new jobs need to be created in the next 10 years to come.

Labels: middle east

Posted by Tarek Hoteit at 3:30 PM | Permalink | Comments

The Daily Star - Business Articles - Dubai blackout costs business $73m

Posted by Tarek Hoteit at 7:29 PM | Permalink | Comments

MENAFN highlights remarks given by a top research at the Egyptian Trade Ministry that most Arab stock markets have a low ratio of stock transactions volume to Gross Domestic Product. More bonds activities, Islamic financing formulas and the establishment of Arab investment funds is then needed.

Labels: middle east

Posted by Tarek Hoteit at 6:07 AM | Permalink | Comments

MENAFN reports that Bahrain is a nation of debt. It has $2.65 billion outstanding in personal bank loans, with 24% increase in such loans from the end of last year. The Bahraini government is doing something about it.

Labels: middle east

Posted by Tarek Hoteit at 7:04 AM | Permalink | Comments

MENAFN reports on a speech recently given by Algerian president, Abdelaziz Bouteflika, that more than 73% of the 1.7 million unemployed people in Algeria are under 30.

Labels: middle east

Posted by Tarek Hoteit at 6:57 AM | Permalink | Comments

MENAFN posts a gloomy article from the Khaleej Times on status of the economy, notably the Gulf financial sector.

Labels: middle east

Posted by Tarek Hoteit at 4:09 PM | Permalink | Comments

Khaleej Times reports on a recent Middle Eastern-influenced fashion show organized by the New York chapter of the national Network of Arab-American Professionals:

"From flippantly funky urban wear to Islamic chic and Middle Eastern-inspired elegant evening and bridal gowns, a group of Arab-American designers unveiled new fashion and jewelry lines that challenge Arab stereotypes and reflect the spirit of a community with a foot in two worlds."

Labels: middle east

Posted by Tarek Hoteit at 9:48 AM | Permalink | Comments

WashingtonPost has an article on Arab pop culture. It talks about Arabi music "idols" and how Western interest in such phenomena is increasing.

Labels: middle east

Posted by Tarek Hoteit at 8:38 AM | Permalink | Comments

An essay written by Wasim Maziak, a Syrian researcher, discusses science in the Arab World, its glory and its decline. He suggests in his essay that the West should acknowledge Arab world's historical contributions and Arab should also embrace Western achievements and focus on the future rather than keep dwelling on its golden past.

Labels: middle east

Posted by Tarek Hoteit at 6:19 AM | Permalink | Comments

The International Finance Corporation, a member of the World Bank Group, is partnering with the Algerian SME Ministry and several local institutions to rollout the SME Toolkit in Algeria. The SME Toolkit provides interactive content to help educate and support small business owners with key business concepts and best management practices. Such efforts are expected to increase effectiveness and productivity leading to growth in the Algerial small business market.

Labels: middle east

Posted by Tarek Hoteit at 5:51 AM | Permalink | Comments

CNN.com notes “Dutch TV saying: Exist poll projects EU constitution referendum defeated by 63 percent to 37 percent.”
Regards,
Tarek Hoteit

Labels: middle east

Posted by Tarek Hoteit at 2:39 PM | Permalink | Comments

Albawaba.Com reports on a recent report released by the Turkish Government that Turkey's Gross National Product (GNP) is almost $300 billion and that puts it among the 20 largest economies in the world.
The reports adds that 50% of the country's GNP is based upon imports/exports, mostly with EU and Turkey's neighboring + Arab countries. With a projected increase of over 50% to $2 billion in 2005 in trade between Turkey and its top Arab trade partner, UAE, due to "increased demand in the region for Turkish construction, machinery, furniture and textile goods", quoted by one Turkish official, Turkey's ranking is expected to climb further.

Labels: middle east

Posted by Tarek Hoteit at 6:11 AM | Permalink | Comments

Dubai government awarded a $3.3 billion contract to a consortium of four companies lead by Mitsubishi to set up a high-tech metro consisting of 100 trains across Dubai by 2009. Dubai metro lines and map are available on Dubai's Municipality Metro site.

Labels: middle east

Posted by Tarek Hoteit at 5:48 AM | Permalink | Comments