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A point of view TURKEY SEES OMAN SIGNS OIL, GAS DEAL WITH Flash EGYPT INSISTS BIG JUMP IN PETROTEL US...THE BURGER IRAN CRUDE Oman has signed a three-year oil and gas exploration ON IMF LOAN and production sharing agreement with US-based private NEEDED TO BE THOUGH IMPORTS company PetroTel, the oil ministry said in a statement last GRILLED FRESH Turkey imported nearly Wednesday. -Reuters said AGREEMENT 147,000 barrels per day "Under the agreement the company will explore for oil and From Ahmed Foda (bpd) of Iranian crude oil in North Korean forces NOT CLOSE AT January, a jump of 78 per natural gas in Blocks 39 and 67 which occupy an area of 13,379 sq km and is located in Dhofar," the statement said. were put on a high alert on cent from December, data Saturday in anticipation of HAND Oman produced an average of 918,000 barrels per day of After unveiling a new eco- from the country's energy launching a missile attack oil in 2012, up 4 per cent from 2011, according to government nomic reform programme watchdog showed last against the American bases statistics. designed to meet the Wednesday. -Reuters said in the Pacific. The move requested conditions for Iranian crude imports The sultanate, which depends heavily on oil exports, has comes in the wake of the securing the International were at 612,548 tonnes or signed a number of exploration agreements with foreign corn= US dispatch of two B2 Monetary Fund (IMF) $ 4.8 146,966 bpd in January, panies since 2005 in a bid to boost production. - Reuters bombers to the Korean billion loan, a Fund delega- compared with December's EGYPT TO IMPORT LIBYA OIL FROM peninsula in a serious esca- tion visited Egypt late last 82,849 bpd, according to lation that might lead to a week to discuss means of data from EPDK. APRIL new war. negotiating the long Once reliant on Iran for Egypt will import 900,000 barrels of oil a month from demanded loan since two more than half its crude Libya starting in April and is paying off some of the full years. During the visit, imports, Turkey has reduced money it owes to foreign energy firms, its oil minister was the IMF seemed reluctant to its purchases as the United quoted as saying last Wednesday. -Reuters said negotiate a full-fledged deal, States and European Union Osama Kamal, cited by local media, said Egypt, where an raising the possibility of have tightened sanctions on economic crisis has led to fuel shortages, had recently paid $1 offering a bridging loan, a trade with Tehran. billion in debt to foreign energy firms and that another $1 bil- matter rejected by the lion would be coming in a fortnight. Egyptian government, EGYPT'S DEBT "The Libyan petrol shipments will arrive , next month," Manar Ghonehn of MENA YIELDS SOAR Kamal was quoted as saying in local newspaper Al Borsa. In wrote. Egypt's local-currency Egypt "petrol" is used to refer to crude oil. In fact, the IMF had no debt yields rose to the The Egyptian government is estimated to owe billions of objection to the proposed highest since January at a dollars to oil producers working in the country, though the reform programme, except for LE5.5 billion ($809 mil- government last month disputed an estimate that put the debt the delay of implementation, a lion) treasury-bill auction at $9 billion. (Cost, on Page 2) matter likely to impede mate- as the International rialising the stated targets. Monetary Fund prepares ISLAMIC SATELLITE TO BE Korean leader Kim Jong- Thus, the Fund refusedto fix a to send a team to Cairo to un warned that in case the date for the visit of its techni- LAUNCHED SOON US made a reckless provoca- restart loan talks, The Egyptian Iftaa House plans to launch an Islamic cal mission, dispatching only Bloomberg said. tion, the North Korean forces Director of the IMF Middle satellite soon to unify the beginning dates of lunar months, will mercilessly fire at the The country sold LE4 bil- said Mufti Shawqi Allam. Tangible steps have been East and Central Asia lion of nine-month securi- US mainland and the US Department Massod Ahmed to already taken to launch the satellite soon to serve as an military bases in the Pacific, ties and the rest in three- observatory to determine the accurate beginning of each Cairo late last week. month notes, according to including Hawaii and Guam, The whole discussions with lunar month, Allam said during a meeting with astronomy and those in South Korea. central bank data on professor of Cairo University's Faculty of Science Mervat the IMF last week focused on Bloomberg. The average An increased movement Awad. financial support or the loan yield on nine-month debt of troops and vehicles at which Egypt aims to receive increased 46 basis points, or The Islamic calendar is a lunar calendar consisting of 12 sites of long and medium- from the Fund, the govern- ISLAMIC BANKING AMONG KEY TOPICS FOR months in.a year of 354 or 355 days. It is used to date events range rockets were spotted in ment spokesman told the local 0.46 percentage point, from TURKISH-ARAB ECONOMIC FORUM last week's sale to 14.39 per in many Muslim countries and used by Muslims everywhere North Korea, a sign that it is press. Prime Minister to determine the proper days on which to.observe the annual readying for a rocket strike, Hesham Qandil told the IMF The 8th Turkish-Arab Economic Forum will be held tomorrow in Istanbul, with the cent. The 91-day yield support of Turkish Prime Minister Recep Tayyip Erdogan, Arab News said. climbed 39 basis points to fast during the holy month of Ramadan, to attend Hajj and Yonhap news agency report- official that Egypt's amended celebrate other Islamic holidays and festivals. ed. economic reform programme The forum will bring together 600 participants from Turkey and Arab and European coun- 13.26 per cent. Both yields tries led by ministers, central bank governors and leaders of major companies operating in the are the highest since a sale US Defense secretary ..took a more gradual approach EGYPT'S WHEAT RESERVE Char Hagel said North to lowering the budget deficit fields of investment, banking and real estate development, industry, trade and tourism. on January 13. -- than the version- used earlier, The forum starts with a business lunch with Turkish Minister of Finance Mehmet Simsek, The Washington-based ENOUGH Till JUNE 28 Korea has to be aware that followed by an official opening, where Iraqi Minister of Construction and Housing IMF will send a technical Egypt's wheat reserves are 2.355 million tonnes -which what it is doing is very seri- to preserve the growth rate, . employment, and protect the Mohammed Suhaib Al-Daraji, Egyptian Minister of Investment Osama Saleh, Simsek and team today to discuss the are enough till June 28, said a committee of the mit..3try ous and that the US seriously poor, the local press reported. Turkish Deputy Prime Minister for Economic and Financial Affairs Ali Babacan will succes- loan, Cabinet Spokesman of supply on Sunday. takes provocations coming (Cont. on page 2) sively take the floor. (Cont. on page 5) Alaa Al-Hadidi said on Adding the expected local production to be delivered to the from the North and will cer- Sunday. ministry the reserves will increase to 4.5 million tonnes tainly answer back. CABINET LIFTS BAN ON which are sufficient for the rest of the year, said the panel. Kim signed the order for committee is in charge of following up wheat contracts and North Korea's strategic rock- EGYPTIAN ELECTRICITY HOLDING COMPANY TRAVELLING WITH MORE THAN shipments. et forces to be on standby to $10,000 OFFER MADE FOR EGYPT'S OT fire at US targets, saying it is (EEHC) Egypt's Cabinet prepared last week a draft law time to settle accounts with The Stock Exchange said last week a subsidiary of the U.S. imperialists in view allowing people to travel with more than $ 10,000 or Russian billionaire Mikhail Fridman's Altimo had offered UPPER EGYPT ELECTRICITY PRODUCTION its equivalent in and out of the country as long as they of the prevailing situation. to buy 100 per cent of Egypt's Orascom Telecom, Reuters .A South Korean official -~0-welmwofteiv- COMPANY (UEEPC) declare it in a document provided. reported. Egypt banned last December all travelers from carry- said North Korea's launch The offer from a Cyprus-based firm owned by Altimo is at sites to fire off mid- and SOUTH HELWAN SUPERCRITICAL POWER ing foreign currency that exceeds $10,000, amid pres- a pride of $0.70 over share, the statement said. sures over the pound that made Egyptians withdraw their long-range missiles have PLANTS 3 x 650 MW savings from banks. "The authority is currently studying the announced offer," recently shown increased A high-level government source said that the law will the Egyptian Financial Superviously Authority said in a state- movement of vehicles and STEAM GENERATORS & AUXILIARIES be issued within the next days so as to encourage busi- ment. forces. Another source said nessmen and tourists to bring funds to the country. IMF LOAN DEAL several vehicles were seen Procurement Notice No. 8/2012/2013 PETROCHEMICAL SECTOR, THE A delegation from the International Monetary Fund moving to the Tongchang-ri (IMF) will arrive Cairo today for talks on a $4.8 billion missile site on the western TRUMP CARD IN EGYPTIAN loan, a government spokesman said last Saturday, at coast, in what seemed like Upper Egypt Electricity Production Company (UEEPC), a wholly owned ECONOMY Cairo seeks to conclude a deal vital to easing a deep eco- preparations for testing its nomic crisis. long-range missiles. subsidiary of the Egyptian Electricity Holding Company (EEHC), is inviting An international report disclosed that the petro- Last Saturday, the US sent chemicals sector in Egypt represents the trump card Cairo would not seek any emergency loan from the International Tenderers to submit Tenders for Steam' Generators'& International Monetary Fund and faced no "crisis" in funding two B2 bombers on training for the future of the Egyptian industry. sorties over South Korea in Auxiliaries Package in accordance with the requirements set forth in the The report noted that Egypt managed to work out the the import of essential commodities, spokesman Alaa el- Hadidi added. what seemed to be a show of bases for strong petrochemical industries, benefiting from force by the US after repeat. Tenders Document for South Helwan Supercritical Power Plant 3 x 650 MW. Egypt's distinguished strategic site between the The most populations Arab country has been seeking a loan ed threats by North Korea. This Package will be financed from the International Bank for European, Asian and African markets which represent the from the Fund to ease economic strains after two years of China, North Korea's only Reconstruction and Development (IBRD). . principal markets for local petrochemical products. political upheaval. Reserves of foreign currency have fallen Despite the challenges facing Egypt in terms of the ally, called for defusing ten- to critically low levels, threatening the country's ability to sion in Korean peninsula, The scope of work includes, but is not limited to furnishing all plant, labor, high unemployment and inflation rates, and the econom- import essential supplies of fuel and wheat. technical and professional services, construction equipment, technical assis- ic repercussions of the latest political developments, urging both Koreas to exert Egypt managed to keep its status as a main player at the CBE CAPABLE OF MANAGING efforts to achieve a break- tance on site and training and to perform all operation necessary and required world level in the field of petrochemical industries which through. China made clear to design, fabrication, furnishing„ delivery, transport to the site, unload, store, are considered one of the vital sectors capable of luring MONETARY POLICY, that peace and stability in the Korean peninsula would erect, test, start up, commission and maintain until Operational Acceptance manpower in the Egyptian labour market, the report MONETARY RESERVE IS SAFE added. serve both countries. Russia, Certificate (OAC) for The Steam Generators & Auxiliaries. Bankers described the statement of Central Bank of on the other part, announced Egypt (CBE) Governor Hisham Ramez as a message of The Tender Document will be available at UEEPC'S office on March 28, a state of emergency. Recantation assurance for the Egyptian people, asserting the CBE Relations between the two 2013 Tenderers may receive the tender Document by submitting a written In our last Issue of The Middle East Observer dated capability to overcome the critical stage in light of a good Koreas deteriorated follow- application in one original and two copies to the address below and upon March 27, 2013 invertently some figures were instak- governance of the foreign monetary resources. ing the third nuclear test of enly Published and their correction is as follows : They also underlined the banks' commitment to offer the North Korea in February and payment of nonrefundable fee USD 1500 against payment receipt from - The total value of the executed investments totaled foreign cash necessary for importing basic commodities. after more international National Bank of Egypt, (Dokki Branch,) Egypt (Account No. L.E. 300 million Ramez has denied last week that he has sent a letter to sanctions were slapped I 600001111005006739). - Dr. Nashaat malunoud, Chairman of the Board of President Mohamed Morsi over the lack of foreign currency against Pyongyang. After Directors of : for importing goods. that North Korea announced Upper Egypt Electricity Production Company (UEEPC) Misr Co. for Pharmaceuticals and Chemicals In a statement on Thursday, the CBE stressed that governor that the armistice agreement Industries. Hisham Ramez neither sent such letters nor gave remarks in that ended the Korean War in El-Kureimat - Atfih - Giza, Egypt - It is worth noting that Misr Co. for Pharmaceuticals this regard. 1953 is no more valid and Attention: General Manager of Procurement and contracts and Chemical Industries started its operations The bank provided $1.3 billion in March to import supply severed a military hot line with a capital amount of LE 10,000 that gradually commodities and petroleum products, the statement said, reit- with South Korea, increasing Tel No.: 0020829210733/0020233357086 increased to L.E. 45,000 in 1945, then L.E. 100,000 in erating that the CBE did not receive any deposits from any fears that it would launch Fax No.: 002082921 0753/0020829210755/0020237610578 1952, then L.E. 150,000 in 1965 to reach L.E. 231 mil- country during February and March. unjustifiable attacks like the lion. ALL BUTANE DEPOTS SUSPEND bloody ones that took place Email: [email protected] near the western maritime Email: [email protected] WORK DUE TO ABRUPT borders in 2010. INCREASING BUTANE The situation is now very The Tenders must be submitted not later than June 20, 2013 in two Syria! serious. The problem is not envelopes at 12.00 noon (Egypt local time): Envelope A must contain all the CYLINDERS PRICE about North or South Korea. All butane storehouses nationwide suspended work due required information, (except all Schedule of Quantities & Prices) and must It is about the US that to the state of confusion in the market, after the govern- became the filling in a burg- include a Tender security in an acceptable form equal to 6,500,000 USD. ment's abrupt decision to apply the coupon system for er sandwich between them. Envelope B must contain all Schedules of Quantities & Prices. butane distribution as of Monday. For North Korea, the US is The remark was made by Hossam Arafat, chairman of like the burger that needs to Only Envelope A will be opened on June 20, 2013 at 12.00 noon (Egypt the department of petroleum products in the General be grilled fresh while the US local time) in the presence of Tender's representatives who choose to attend Federation of Chambers of Commerce. believes it has to protect the at the Headquarters of UEEPC at the address shown above. The government did not notify the department of petroleum interests of its ally South or the workers in the field about this decision, he added. Korea. Tenderers whose Tenders have been determined to be substantially respon- During an emergency meeting Monday, Arafat said that the The super powers will not sive shall be informed of the opening date for Envelope B. petroleum department condemns the government's marginal- allow the sandwich with its The Tenderers may obtain'additional information by contacting UEEPC'S ization of traders along with the deliberate smear campaign entire hot beef filling be in the media targeting the owners of the gas stations and eaten and at the same time consultant at the address shown below: butane depots. the eastern and western Power Generation Engineering and Services Company He added that the members of the department rejected an worlds will not wait for the offer by Supply and Internal Trade Minister Basem Ouda to grilling to be over. Everyone (PGESCo) 41 EI-Salam avenue, Center District, New Cairo, increase the profit margin of the depots within two weeks. is closely eyeing what is tak- Cairo, Egypt .Attention: Project Procurement Manager The government decided to increase prices of butane gas ing place on the Asian map. From Saudi Gazette cylinders to LE 8 for houses instead of LE 2.6 and LE 16 for Ahmed Foda Tel No.: 0020-2-3617-6497 Fax No.: 0020-2-2617-6519 commercial shops instead of LE 5.5 APRIL 3, 2C i 3 le po it trim r H 2 Comment NO CRISIS IN CAIRO TO SHUT AIRPORT IN A point of view YIELDS FOR FINANCING THE SUMMER TO SAVE POWER EGYPT INSISTS IMPORTATION Cairo international airport will close most of its run- ON IMF LOAN SUKUK NOT OF BASIC ways for four hours each day from early June to save DETERMINED power for the Egyptian government that is struggling to THOUGH COMMODITIES pay for fuel imports for power stations, the minister of AGREEMENT YET The government has civil aviation said. While the government explicitly denied reports Power cuts have become more frequent since the uprising NOT CLOSE AT Mr es hopes on raising up on a crisis in providing that ousted President Hosni Mubarak in 2011. Two years of HAND to 10 billion annually on the resources needed for political upheavals have choked off tourism revenues and (Cont. from page 1) issuing sukuk, or Islamic the importation of basic pressured the currency, triggering a soaring budget deficit. - Putting off the implementa- bonds, within months, mar- commodities and supply Reuters said tion of the proposed reform ket analysts warned that the materials. Egypt's new Islamist leaders ate trying to negotiate a cred- measures was the real reason behind the Fund's opposition yields for such sukuk or on Ambassador Alaa Al it line with the International Monetary Fund as the country what basis the revenue faces a lack of funds to buy fuel, causing repeated power cuts. to offer Egypt so far the long Haddidy, the official cabi- awaited loan, an official would be calculated have net spokesman said the plan "Cairo International airport will close for four hours daily starting the first of June while one runway will be kept open source at the Finance not been determined yet, and the budget include all Ministry told "Al-Mal" busi- Manar Ghoneim of MENA appropriations needed for to receive any flights during those hours," the state news agency quoted civil aviation minister Wael al-Maadawi as ness daily. The IMF board wrote. providing all needs. feels that the Egyptian gov- Calculating yields on saying last Saturday. He said figures indicate He said the closure should not have any impact on air traf- ernment is not serious in car- sukuk or the period of maturi- that that wheat crop this rying out the reform meas- ty of such securities is a very fic as the airport had seen a dramatic reduction in flights, and ures, a matter which makes year is high adding this will runways had been kept open without being used. complicated process even Satirist and television host Bassem Youssef is surrounded by his supporters upon his cut down the imported them lose their worthiness. more than the issuance itself, "The decision came after detailed study on the rate of work the same source arrival at the Prosecutor General's office at the Cassation Court in Cairo. quantities of wheat and that had witnessed a huge reduction (in traffic) in the past two given numerous domestic and Prosecutor General Talaat Abdullah ordered the release of renowned TV host Bassem save foreign currency. He added. However, realising years," he added. political consensus is likely to foreign factors, bankers and Youssef on an LE 15,000 bail. said wheat assets and bread market analysts argued. Shortages of state-subsidised diesel have paralysed trans- be the only solution for curb- are fully secure. portation in parts of the country and fuel problems are expect- ing the exacerbating financial Although the yields on T-bills On reconciliation with and government bonds could DANA GAS COLLECTS $73M FROM ed to worsen as summer approaches and householders switch gap facing the national econo- Businessmen, the cabinet on their air conditioners. be used as a benchmark for my. The lack of such consen- Spokesman said some Spending on fuel subsidies accounts for around a fifth of determining the revenue for EGYPT, KURDISTAN sus hinders the implementa- Dana Gas has collected a total of $73.7 million in receivables from its operations in Egypt Businessmen were not Egypt's budget. tion of the reform pro- sukuk, the specific project to and the Kurdistan region of Iraq in 2013, the UAE-based company said last Sunday. - Reuters involved in criminal issues The budget deficit is forecast to hit 10.9 per cent of GDP in gramme, adding further bur- be financed by sukuk, is like- said adding if they gave back the year to the end of June, assuming economic reforms are dens to the budget deficit, the ly to be the dominant factor, Delays getting paid for supplies of natural gas to Egypt and Kurdistan forced the company the state rights and these made to curb spending. Without such reforms, the govern- official source admitted. they added. to restructure its debt late last year, after it failed to pay a $920 million Islamic bond on matu- cases are settled, they can ment says the deficit will hit 12.3 per cent. Government officials were Given that the charging of rity in October. hoping the budget deficit interest is strictly forbidden return back to their activi- DOUBLING EL SOKARY GOLD MINE The overdue payments collected so far this year are equal to about 12.5 per cent of the ties. would shrink from its current by shariah law, sukuk securi- $589 million total outstanding receivables still owed to Dana at the end of 2012. FROM 8 - 14 TONNES ANNUALLY level of almost 11 per cent to ties are instruments construct- "We are pleased to see that our strategy and efforts for addressing our receivables position INTERNATIONAL Minister of Petroleum and Mineral Wealth Osama 8.5 per cent in the next fiscal ed in such a way as to avoid in Egypt and the Kurdistan Region of Iraq is yielding results," Rashid Al Jarwan, acting chief FINANCE Kamal said the ministry is currently pursuing a new year, starting in July, but now the accrual of interest and Egypt is suggesting it could executive officer of Dana Gas, said in a statement. INSTITUTIONS strategy for developing the mineral wealth sector. This thus be fully compliant with Dana collected around $163 million receivables from Egypt last year. But receivables from envisages drafting a new law for streamlining work in be 9.5 per cent. Islamic principles. Thus, a gas supplied in Egypt still rose from $228 million at the end of 2011 to around $236 million READY TO SUP- On his part, Ashraf Al- mineral wealth, thus activating the state's vision for Araby, an advisor to the IMF, sukuk holder can attain yields at the end of 2012, according to Dana's latest results. PORT EGYPT realising the optimum use of such wealth, along with Egypt paid Dana $41.3 million in January for gas supplied but not paid for, largely due to - believes that the suggested of 50 per cent or more on a restructuring the sector and tr. the cadres oper- certain scheme, .while anoth- political upheaval in the North African country since 2011. Talks with Egyptian authorities for Minister of Planning and reform measures are "too the swift repayment of the rest are ongoing, Dana said in the statement to the Abu Dhabi stock International Co-operation ating in the field of mining. weak" and "late by 18 er gets yields of just 5 per cent The strategy also or less, according to the con- exchange. Ashraf Al Araby asserted months," warning that as long provides for preparing as the measures are delayed, ditions of each project, senior Kurdistan Regional Government (KRG) debts to Dana for fuel supplied stood at around that many countries and $353 million at the end of 2012, up from around $240 million at the end of 2011. international finance insti- a national plan for the reforms would involve bankers were quoted as say- tougher procedures. ing. Dana collected $32.4 million of that in January, following a $48 million payment by the tutions as well as interna- developing and manag- KRG to Dana in December 2012, it said. tional and regional banks ing mineral wealth in Criticizing several tax meas- Calculating the yields on ures, Al-Araby, a former The Sharjah based energy firm said on Sunday that it was on track to complete the refinanc- voiced readiness to help the co-ordination with a sukuk is similar to determin- Head of Tax Authority, said ing revenue from any other ing of the sukuk in the second quarter of 2013. Egyptian economy to over- global experience It postponed a shareholder vote on restructuring the sukuk to April 23, after a meeting on that the proposed measures securities, depending on sev- come its current crisis house to define the are not likely to infuse fresh March 24 failed to meet the required quorum. through- offering the finan- quantities and reserves eral factors including the The company also said it was on track with its Zora gas project, which is 33 km off the coast resources.. The new taxation cial resources needed for as well as studying the measures are likely to expel political and economic risks of Sharjah, and would begin drilling in the third quarter. facing the issuing country, bridging the financial gap possibility of establish- rather than lure investors, he Zora is expected to be fully operational in 2014 and produce around 60 million cubic feet or pushing forward the ing mineral industrial added. Tarek Metwalli, a senior offi- (1.7 million cubic metres) per day. cial at Blom Bank-Egypt, told wheel of economy. complexes for making The government seemingly "AI-Alam AI-Yom" business MORE THAN LE130 BN IN TAX REVENUE RECEIVED The international com- optimum use of the faces a dilemma, given that it daily. Whenever the risks are munity requested. at the available raw materials has been seeking the $ 4.8 bil- OVER NINE MONTHS lion loan from the IMF in high, the yield on sukuk, Egypt collected LE132.1 billion in tax revenue from July to 31 March, said Mamdouh same time, to implement a and offering new jobs. would surely move up, the national programme envis- The Minister's state- order to stave off a balance of Omar, head of the Egyptian Tax Authority. payments crisis, but securing same banker added. Omar told state news agency MENA thf this year witnessed an increase in both the num- aging comprehensive eco- ments came during his the aid package would Moreover, the investors' inter- ber of tax returns filed and the amount of money paid, compared with the previous year. nomic and social reforms visit on Saturday to El involve tough taxation-meas- est is usually a predominant He said this confirmed a higher cultural awareness of the tax community and its responsi- voicing the priorities of the Sokary gold mine, ures likely to spark popular factor on determining the bility toward the nation. current stage, he added. accompanied by protests at a time the country yield or maturity of the sukuk, The number of tax returns filed increased to more than 1.57 million from 1 January to the Minister of Manpower is already struggling to main- end of March, with revenues of LE774 million. Last year, the authority received about 1.51 JUDICIAL he noted. . and Immigration Osama Kama tain law and order, according Late last week. the Shura million reports, bringina in about LE624 million. - t DELEGATION TO Khalid Al-Azhary. to Amr Mounir, assistant to Council approved the sukuk Tax authority official Samira Farag said engineers, doctors, lawyers and teachers are among ATTEND Chairman of El Finance Minister for taxation. those who committed most to paying taxes, something which she said reflects their response law, the first of its kind in Sokary Gold Mines Moustafa AI Qady said that El Sokary The government is exerting to the authority despite the difficult economic circumstances the country faces. WORKSHOP ON Egypt. mine project is currently witnessing great expansions strenuous efforts to expedite On his part, Mohsen ENFORCEMENT OF VAT NEXT YEAR RESTORING through the implementation of the fourth phase and the clinching the full standby loan, Minister of Planning Rashad, a senior official at the Chairman of the Tax Authority Mamdouh Omar said that some 60 per cent of the SMUGGLED installation of a new factory with the aim of doubling pro- Arab African International largetted tax proceeds have been collected, noting that the value of proceeds till Friday and International Co-opera- FUNDS IN DOHA duction from 8.1 tonnes annually in 2012 to 14 -15.5 tion Ashraf Al-Arabi was Bank, pointed out that the reached L.E. 130 billion, expected to increase to L.E. 238 billion after receiving the com- tonnes starting from 2015. panies' tax returns at the end of April. An Egyptian judicial del- quoted by "Al-Abram" daily country's credit rating may be as saying. The minister a significant factor affecting He noted that the proceeds increased by 5 per cent, compared with the same period of last egation will head to the EGYPT TO IMPORT LIBYA OIL FROM year, while the tax returns increased by 35 percent, a matter which underlines the . tax com- Qatari capital of Doha to expected that the IMF techni- the yields on sukuk., saying APRIL (Cont, from Page 1) cal mission would visit Cairo that Egypt's credit rating was munity's keenness for pay its commitments, he added. attend a workshop, to be held on April 2-4 to review The Libyan oil minister, Abdul-Bari Al-Aroussi said Libya within the few coming days to repeatedly downgraded by In an expanded meeting organized by Alexandria Chamber of Commerce under Ahmed Al- plans to refine some of its crude oil in Egyptian refineries to complete detailed discussions Wahl, Chairman of the General Federation of Chambers of Commerce, Omar said that the tax how to promote co-ordina- international agencies over tion at home to restore support the Egyptian economy which is struggling after more with the government. The the liast year. Such a matter Authority seeks to start applying the value added tax (VAT) starting from 2014 so as to con- than two years of political unrest. forthcoming talks are likely to form with the amendments introduced to the income tax. smuggled funds. should be taken into consider- The delegation includes Kamal also said in comments carried by local daily Al-Mal lead to striking an agreement ation on determining the SUEZ CANAL REVENUES HIT LE2.5B. IN FEB. representatives from the newspaper he would will meet with several foreign firms this with the IMF, Al-Araby sukuk yields, he warned. Head of the Suez Canal Authority Mohab Memish said on Friday that revenues of the Suez international co-operation week to discuss new means to pump additional supplies of believed, expecting that the However, the same banker Canal reached L.E. 2.5 billion in February. Memish told MENA that the Suez Canal revenues sector of the Justice Ministry, gas. first portion of the IMF loan believes that the sukuk would have grown by 9.4 per cent in February compared to the same month last year. the Illicit Gains Authority, Egypt, which has endured over two years of political insta- would be obtained before the be the suitable option for money laundering unit of the bility since the overthrow of President Hosni Mubarak in end the current FY, ending by FINALISING LAW ON RECONCILIATION WITH June. According to the paper, financing the major projects Central Bank of Egypt and 2011, is struggling with sliding currency reserves, falling and easing the critical eco- BUSINESSMEN tourism and a soaring budget deficit. IMF sources forecast that the the Interior Ministry. Head of first batch of the loan would nomic crunch now facing the Minister of Justice Ahmed Mekki said the ministry is about to finalize a draft law on the Public Prosecution's It has cut back on some planned oil imports, traders said settlement of civil and trade disputes, known as "judicial mediation." The ministry early this month, as it watches its foreign reserves fall and it hit $ 1.5 billion. Winning the country. The yields on sukuk international co-operation IMF loan is likely to be asso- are supposedly calculated resorted to issuing such a law after courts became unable to settle such disputes. office counselor Kamel seeks loan funding. He added during a conference on the judicial mediation law, organised by the ministry of ciated with an aid package, according to the project pro- Gerges will be present. In The government is working on an economic programme Saturday that mediation constitutes a solution for many investment problems resulting from where it plans to cut back on subsidies of fuel. Last year it stretching up to another $ 4.5 ceeds, according to Chairman statements on Sunday, billion to be offered by multi- the change of the economic system and reconsidering the contracts. Gerges said the Egyptian del- eliminated subsidies on 95-octane gasoline, the highest grade of the Egyptian Forum for On his part, Minister of Investment Osama Saleh stressed the need of issuing the judicial national donors like the EU, egation will probe all meas- available, and it raised fuel prices in many sectors last month. Economic and Strategic mediation law, given its importance for luring more investments. the US, the African Studies, Rashad Abdou. ures taken to restore the loot- The government had plans to start a scheme to ration sub- Development Bank and other However, the government, GOV'T UNVEILS 2013-14 SOCIO-ECONOMIC ed Egyptian funds, smuggled sidised motor fuel using smart cards available to drivers of Arab funds, the Minister already struggling to narrow DEVELOPMENT PLAN abroad by ex-regime figures. vehicles with smaller capacity engines in July. expected. down the current widening Egypt's Cabinet last week unveiled the main features of its social and economic develop- budget deficit, is likely to ment plan for the fiscal year 2013/14. According to the plan, Egypt's economic growth rate is A.RE FOREIGN TRADE MONTHLY SUMMARY ( October 2012 1 direct the sukuk to finance forecast to reach 4.1 per cent in 2013/14, up from the 3 per cent expected for the current TRADE EXCHANGE BETWEEN A.R.E, AND ARAB COUNTRIES IN OCTOBER 2012 infrastructure projects, in a 2012/13 fiscal year. The growth rate for individual incomes, meanwhile, is expected to rise bid to ease part of the burdens to 2.1 per cent in the next fiscal year, according to the plan. In 2012/13, the figure is forecast Table No. 6 B - Value in LE 1000 (Cont. from kw week) shouldered by the budget. Yet, to rise by 0.6 per cent. The government also anticipates the investment rate to increase to 16.3 the dividends of such projects per cent of gross domestic product (GDP) by 2013/14. The investment rate for the first quar- Imports Exports are low, a matter which can ter of the 2012/13 fiscal year stood at 11.1 per cent of GDP. render these sukuk less attrac- Projected investment increases are, in turn, expected to reduce the national unemployment October Jan./October October Jan. /October tive for investors, he added. rate to 12.4 per cent compared to the current 13 per cent, according to the government plan. Countries 2012 2011 Change 2012 2011 Change 2012 2011 Change 2012 2011 Change

ID Arabi/Ailed Economic As- snalgy Castries (A) Arab Common Market Countries

Jordan 32604 59838 27234- 502618 727427 224809- 283680 599362 315682- 3308265 4383046 1074781- Syria 119909 250036 130127- 1163703 2012547 848844- 231792 1037544 805752- 1928543 4064108 2135565. Iraq 2706 2706 686699 16977 669722 327663 313068 14595 2820790 2254141 566649 Libya 6602 5309 1293 147833 343173 195340- 610809 335149 275660 7036920 22309312 4805938 Moritania Islamic 1661 1661- 9928 24323 14395- 2598 3298 700- 61057 38456 22601 Yemen 12183 43301 31118. 274939 503896 228957. 78929 119598 40689- 1195709 922450 273259 THE MIDDLE EAST OBSERVER TotaliAl 171298 362851 191553- 2785720 3628343 642623- 1535471 2408019 872548- 16351284 13893183 2458101 (B) Other ACM monies EVERY WEDNESDAY MORNING Sudan 23340 7356 15984 125425 140975 15550- 154337 261420 107083- 2227110 2788136 561026- Somalia 240 240- 1682 1879 197. 21484 16126 5358 106090 400981 293991- Palexlne 232 45 187 3303 2155 1148 41334 26824 14510 261056 419336 158280- ECONOMIC, PUBLISHED TO COVER Total (13) 23572 7641 15931 130410 145009 14599- 217155 304370 87215. 2595156 3608453 1013297- Total of the Assembly 4 THE MIDDLE EAST, ARAB GULF countries 194870 370492 175622- 2916130 3773352 857222- 1752626 2712389 959763- 189464 0 17501636 1444804 2) CCC countries UAE 253062 358501 105439. 4000858 3771641 227217 23M16 312453 74037- 3572361 4305658 733297- AND AFRICAN MARKETS Saudi Arabia 1107515 1457563 350048- 13454480 12241318 1213162 850040 1025628 375583 9252589 9348380 95791- Head Office and Advertisements : 41, Sherif Street, Cairo, Egypt Bahrain 4409 52034 47625- 278445 268481 9964 19605 24124 4519. 192961 184486 8475 Tel.: 23939732 - 23926919 Fax : 23939732.27485844 Oman 19591 108413 88822- 775278 573133 202145 33565 58161 24596 483867 610705 126838- Qatar 6752 62864 56112- 463530 516270 52740- 82368 121669 39301- 1265507 1412897 147390. E-mails Address: Kuwait 1851728 718084 1133644 13157151 12971622 185529 120875 131897 11022- 1105441 1285934 180493. Tsui of GCC mania 3243057 2757459 485598 32129742 30344465 1785277 1144869 1673932 529063- 15872726 17148060 1275334 journal@meobservenorg - [email protected] 3) The rest of Arab periodicals@meobservenorg • afoda@meobservenorg countries Tunisia 3 7061 Web. www.meobservenorg . 7936 63434 55498- 1693669 389224 1304445 182061 83766 98295 1 6 919319 447742 Algeria • 350597 355185 4588- 5130439 3494368 1636071 189700 160689 29011 1998344 1962956 35388 CCR.: 113389. Moon Islands 874 1026 152- 125 245 120- 1532 657 875 Djibouti - 17014 17014- 72031 t56515 84484. 7847 22101 14254- 164848 158776 6072 Printed at Societe Orientale de Publicite (S.O.P.) Cairo - Egypt Lebanon 104535 7/617 32918 544526 418265 126261 489805 410051 79754 4421109 4888126 467017- Morocco 45603 29748 15855 417035 279483 137552 121690 288495 166805. 2016843 2550351 533508. The Publisher : AHMED FODA Tot al or tbe rest Arab countries 50867! 536998 28327- 7858574 4738881 3119693 991228 965347 25881 9969737 10480185 510448- Chief Editor : H.A. RAOUF • Tota1 of tic Ara reentries 3946595 3664949 281649 42904446 38856698 4047748 3888723 5351668 1462945- 44788903 45129681 340478- Economic Counsellors : YASMIN FODA

MAHMOUD FODA World Grand total 27648073 36565148 8917075- 45249684 304785938 40463746 13969841 15600074 1630233_ 146768077 158758063 9981986. N.M.M. RASHED Precunap Importance of 14.3% 10.0% 12.4% 12.7% 27.8% 34.3% 30.5% 28.8% Dir. of Public Relations : KAMAL MOKHTAR Anibcosabits to Ihe volt Annual Subscriptions ; x Excluding re-export xx Modified f gurcs Source . The Central Agency for Public Mobilisation and Statistics. (CAPMAS ) (To be Cont. ) Egypt : LE275 Aborad : $420 - £295 ARAB PROJECTS iota t not h lin 3 BAHRAIN 'FACING DUBAI SILICON BAHRAIN PROJECTS IN RACE EXPANSION OF MAJOR INTERNET OASIS NET FOR TOP GCC AWARDS EGYPT'S DISRUPTION' Three projects worth a total of BD127 million in Bahrain Internet users in Bahrain are PROFIT UP 26% ELECTRICITY facing weeks of disruption fol- Dubai Silicon Oasis, a free will be competing to be named the GCC projects of the year, PROJECTS IN lowing what experts are saying zone technology park for said a report. is the biggest cyber attack in semiconductor, microelec- The 2013 Meed Quality Awards for Projects will be held in IRAQ RESTS ON history . by saboteurs. tronic and other high tech- Abu Dhabi in May, in association with Ernst & Young. According to TradeArabia nology-based companies, TradeArabia News Service said STABILITY News Service has registered a net profit Meed announced the Bahrain national winners of the only Local officials called on Millions of people world- of Dh165.4 million ($45 mil- GCC-wide awards programme that recognises completed quali- the Egyptian electricity and wide have already suffered lion) for 2012, up 26 per cent ty projects, reported the Gulf Daily News, our sister publication. contracting companies tc days of slow speeds, according compared to a year ago. The projects were shortlisted by a panel of judges, all experts take part in the future bid: to the report in our sister publi- TradeArabia News Service in the projects industry, on the basis of their economic, social to be offered by the Iraqi cation, the Gulf Daily News. government to promptly Spamhaus, a UK spam filter- said and environmental impact, as well as innovations and achieve- Announcing outstanding ments in design, engineering and construction. expand their investments in ing organisation which helps Iraq during the coming peri. weed out "spam" messages for performance across all areas This year's Bahrain national winners include the North e-mail providers, was subjected of operations in 2012, Dub,ai Manama Causeway Project owned by Bahrain's Works Ministry, od, "Al- Mal" business daily to more than a week of distrib- Silicon Oasis Authority nominated by Six Construct, which will compete in the GCC reported. uted denial of service (DDoS)' (DSOA) said its gross revenue Transport of the Year award, the Replacement of Steam Turbo- Senior officials admitted attacks, the report added. hit Dh682.2 million, while its Generators at No 2 Power Plant Project owned by Bapco and that the Egyptian electricity operating revenue grew 5 per nominated by Technip France, Abu Dhabi, is a contender in the companies have refrained CYPRUS SENDS cent to hit Dh159 million GCC Power and Water Desalination Project of the Year catego- from investing in the Iraqi RUMBLES compared to the previous year. ry and the University Medical Centre Project owned by the market due to continued state The year additionally saw a Arabian Gulf University and nominated by Al Riyadh Technical of lawlessness prevailing in THROUGH most of Iraq since 2003, a mat- The energy... the only solution. 32 per cent increase in the Services, will vie for the GCC Small Project of the Year award. BANKING SYSTEM number of companies operat- "The GCC's rapid progression demands high integrity and ter which raises the investment People queue outside a ing under the Authority at constant innovation, as projects play a crucial role throughout risks. Laiki bank branch as a man EGYPT TO CARRY OUT L.E. 84.6M. PROJECTS IN S. SUDAN Dubai Silicon Oasis. Increasing Egyptian invest- Cairo has pledged to carry out a number of service projects in South Sudan worth a the region," said Ernst & Young partner and head of infrastruc- receives money from an ATM The growth takes the total ture services Abraham Akkawi. ments in Iraq in the energy machine in Nicosia. (AP) total of L.E. 84.6 million, along with a grant of roughly $ 15.6 million for water infra- number of companies at the realm is conditioned by restor- The recent deal to rescue structure, the government said following Prime Minister Hisham Qandil's visit to the "Despite the growing competitiveness of project excellence, fully integrated technology this has been strongly reflected within the competing projects. It ing security and political sta- Cyprus and its banks from nascent African country last week. The projects, to be carried out by the state-owned hub to 711, with 68 per cent of financial collapse has is our great pleasure to congratulate the winners for their distin- bility in such a market, togeth- Arab Contractors company, aim to provide South Sudan with public services in the those in the IT industry and er with the support to be renewed fears about domains of education, health and water resources, MENA said. guished accomplishments and outstanding results." Europe's shaky financial sys- . the other 32 per cent related to Besides Bahrain, national winners were also selected from offered by the Egyptian gov- tem and where trouble might The Health Ministry has allocated L.E. 28 million for the construction of health clinics in commercial and service sec- projects completed in Kuwait, Oman, Qatar, Saudi Arabia and ernment to local companies next appear. the South Sudanese provinces of Warrap and Jonglei. In the field of education, Egypt's tom and diversified invest- the UAE. seeking to invest in Iraq, elec- Many banks across Europe Higher Education ministry has offered a grant of L.E. 8.625 million to develop a branch of ment. tricity officials revealed. have been struggling for more Alexandria University in the South Sudanese town of Tonj. The Ministry, meanwhile, has Commenting on the results, Several Egyptian compa- than three years as losses on offered an L.E. 48 million grant to establish a number of schools in South Sudan. In addi- DSOA chairman Sheikh nies, such as Elsewedy cables government bonds and bad tion, the Ministry of Water Resources and Irrigation will provide an additional $ 15.6 million Ahmed bin Saeed Al and the Arab Contractors. loans piled up. Agencies said Maktoum said, "Our 2012 Some governments, mean- to implement water projects in the Nile Basin country. have the ability to take part in Qandil also announced the establishment of a two million square metre- Egyptian indus- performance is an indication bids to be offered in the Iraqi while, have taken on more debt of the growing status of DSO trying to prop up their lenders trial zone near the airport in South Sudanese capital Juba. The facility, which will be devot- markets, given that they have to the point where they have ed to agricultural manufacturing, will export products to Egypt and other countries in the as a centre for innovation and efficient expertise and facto needed bailing out themselves. region. technology. The rise in profits ties in several Arab countrie. In Cyprus's case, its banking is consistent with the vision of electricity officials were quot- sector became much bigger EGYPTIAN INVESTORS SEEK INDUSTRIAL ZONE IN ALGE- Sheikh Mohammed to shape the emirate into a regional and ed as saying. In this regard. than the country's government RIA they highlighted the impor- could afford to rescue — seven A number of Egyptian businessmen have sought to establish an industrial zone in Algeria global centre for technology." times the size of the country's tance of providing prompt economy. in an attempt to create and pursue increased opportunities for investment between the two INAUGURATION support for the Egyptian com- When the banks were hit by countries. Abdel Moneim Sayyed, President of the Investment Committee for Egypt'S OF 119 SERVICE panies investing in Iraq, large losses and Cyprus could International Business and Investment Association, stated that they would be hosting a dele- besides implementing the pro- not afford to bail it out on its gation of Algerian businessmen at the end of the month. The meetings are aiming to over- PROJECTS IN posed Egypt-Iraq power link- own, the country turned to the come the lull in trade between the two countries as a result of heightened tensions that fol- APRIL "The national winners in all the GCC countries deserve the age project, a matter which other 16 European Union coun- lowed the Algerian football team's victory over Egypt in a world cup qualifying match in Under the rubrics of "Giza highest commendations for completing projects which will have would help exchange and i tries that use the euro. November 2009. a tremendous impact on the continued development of the export energy. Rather than making Europe's and the . people", Giza taxpayers foot the entire bill for US GROUP PLANS MEDICAL CENTRE Governor Ali Abdel Rahman region," said Meed judging panel chairman Edmund O'Sullivan. Official Spokesman to the bad banking, Cyprus and the said that 119 projects will be GCC winners will be announced at the annual Meed Quality Ministry of Electricity Aksam other euro zone • countries IN ABU DHABI inaugurated in April. The proj- Awards for Projects, in association with Ernst & Young on May Abul Ella said that the Iraqi agreed to make the banks' A landmark medical treatment centre providing various medical services including recre- ects, covering various devel- 14 at the Jumeirah at Etihad Towers in Abu Dhabi. government agreed on offer- bondholders and big depositors ation as well as treatment of senility and chronic diseases will be launched on Saadiyat opment and service domains, NEW PROJECT FOR ETHYLENE AND ing all facilities and easing off contribute to the rescue. One Island in Abu Dhabi on May 14, according to its operators. will be implemented at the all obstacles which could bank, Laiki, is to be split up, To be based at St Regis resort on the island, the DNA Integrative Medicine and Wellness Centre cost of L.E. 285 million. DERIVATIVES faced by the Egyptian electric- with its nonperforming loans could turn the UAE into a key curative tourism destination, said a senior official. -TradeArabia The projects include a Minister of Petroleum and Nlineral Resources Eng. ity companies seeking to and toxic assets going into a school complex, grouping Osama Kama recently witnessed the signing of a memo- invest in Iraq. Abul Ella said "had bank News Service said — "Abu Dhabi represents a key aspect of our strategy...we share many values and we aim to con- three schools at the cost of L. randum of understanding Ninth the Egyptian- Holdi ur- SALE OF OTH TO tribute to efforts to turn the emirate into a major recuperation and treatment destination for E. 18 million. This in addition Company for Petrochemicals and Sugar Beet Production. rency co-operating on achiev- RUSSIAN tourists," remarked Dr Nasim Ashraf, DNA Health Corp chairman and CEO. to a project for extending According to the MOU, the company will supply bio- ing integration between the "We look forward to building bridges of cooperation with tour operators in the UAE and other drinkin& water to north Giza ethanol that will be transformed into ethylene and its deriva- two countries' electricity grids COMPANY villages at cost of L.E. 345 The Egyptian Financial countries, mainly India, Russia, China and South Korea...these countries arc considered key tives on 100 acres of land in Motabos in Kafr el-Sheik in a bid to add Iraq to the six , tourist exporters to the UAE," he added. - million, along with a sanitary Governorate. The memorandum also seeks to attract new power country linkage proj- Supervisory Authority drainage project at the cost of (EFSA) announced receiv- He said German tour operators had already included DNA's medical products in their promo- investments. ects, already including Egypt, ' big' a tender' offer from tion brochures for 2013-2014, adding that Germany already is one_of the est tourist providers L.E. 20 million. '" Governor of Kafr el-Sheik-Eng. Saad el-Husseini and the jordan,___Syria, Lebanon and Baskendal Ltd,. a coMpany to Abu Dhabi and other UAE emirates. DATING HISTORY: Chairman of the Environmental Affairs Agency, Fatima Abu Saudi Arabia. incorporated in Cyprus and "We believe that market is ready to accept our package which involves treatment, relaxation and Abul Ella said that a delega- recuperation as well as Golf games, free tickets to Monte Carlo beach club and stay in our part- SR 220 M SET Shouk, also witnessed the signing ceremony. fully owned by Altimo that The MOD was signed by the Chairman of Egyptian tion of Egyptian electricity owns 47.85 per cent of nership hotels and resorts," Ashraf stated ASIDE TO officials would visit Iraq soon VimpelCom to buy 5.245 According to him, Saadiyat was picked as an ideal venue for the DNA centre given its beauti- Company for Petrochemicals and Sugar Beet Production DEVELOP OLD Eng. Mohamed Saafan; the Chairman of Egyptian Sugar and to discuss with the Iraqi offi- billion shares, or 100 per ful nature, pure water and clean sandy beaches stretching over nine km. cials means of setting up joint Integrated Industries Co. Eng. Mohamed Abdel-Rahim; the - cent of Orascom Telecom He said a team of medical experts and scientists would manage the centre, adding that it pres- JEDDAH projects in the electrieity Holding (OTH) at $0.70 ents a "new concept for curative tourism and alternative medicine in the region." The Saudi Commission Chairman of Daqahlia Sugar Company, Eng. Mohamed especially in the realm of con- each. The bourse regulator He said the team includes experienced personnel trained in the US and that Dr Kristy Higgs, an for Tourism and Antiquities Abdel Qader; the Chairman of Fayoum Sugar Company, sultations and engineering said it is studying the tender international expert in functional and integrative medicine, has been appointed as senior consult- has taken a series of meas- Eng. Ahmed el-Bakry; and the Chairman of Nubariya Sugar ures for the development of studies. offer. ant at the centre, noting that Dr Kristy has been assistant manager at the US Institute for Manufacturing and Refining Co., Eng. Hussein Ali. All Egyptian companies Meanwhile, an economic Functional Medicine. Jeddah's historical region as In a related development, the Minister of Petroleum and expert said the offer to fully Another well known medical expert, Dr Jack Kornberg has also been named medical director part of the Kingdom's operating in the realms of Mineral Resources said that the sugar beet, which is current- manufacturing equipments acquire the shares of OTH of the DNA centre on Saadiyat, Dr Ashraf said. efforts to enlist the region as ly being exported by Egyptian companies, will be used in does not mean that its invest- and electricity are keen on A successful US-board certified surgeon with over 30 years of US-based practitioner experi- a UNESCO heritage site, different industries. ments will exit Egypt because ence, Dr Kornberg is a renowned and passionate advocate of functional medicine and the benefits Arab News said. investing in Iraq, besides con- it does not have any in the of an integrative approach to the treatment of chronic disease on the global health and wellness "We have allocated SR 220 "Instead of relying on natural gas, ethylene, which is tributing to reconstructing its first place as it had sold them seminar circuit. million for this purpose," said essential for producing petrochemicals, will be obtained electricity grid, he said. over the past years, an eco- Another veteran doctor to join the centre is Dr Joshua Berka, a holder of dual degrees in both Prince Sultan bin Salman, from different raw materials," Eng. Kamal explained, adding CEO of Silicotek Company nomic expert said. Naturopathic Medicine and Classical...Chinese Medicine. president of the SCTA, adding that these materials will be used to create car fuel by mixing Wahid Tawfik urged the OTH does not own any Dr Berka's focus is primarily in family medicine, including advanced approaches for the care that restoration work on 18 it with benzene. Egyptian electricity compa- assets or investments in of acute and chronic disease as well as alternative and complementary cancer treatments. heritage buildings in the He said that the new project will help overcome the fuel nies to prompdy get an access Egypt, expert Moatesm el- Other experts to join the centre include Dr Amir Qarshi, who has13 years of experience and region has already begun. crisis from which Egypt is suffering from. to the Iraqi market through Shahidi said. practices in Physical Medicine & Rehabilitation. Other old Jeddah develop- Meanwhile, the Governor of Kafr el-Sheikh said that this competing on bids to be OTH's investments are out- Also joining the centre is Dr Lisa Portera-Perry, a passionate advocate of Functional Medicine ment programmes are the offered by the Iraqi govern- side Egypt, especially in bio-ethanol project will provide over 2,000 jobs for young Based Nutrition providing a new paradigm for assessing and treating complex and chronic illness. establishment of a special people. Eng. el-Husseini estimated that the project will cost ment. Tawfik downplayed Algeria, and has networks in concerns over the prevailing Italy, Russia, Canada and Dr Lisa, a Nutritionist and Chiropractor, will be 'contributing her 25 years of clinical experience municipality in the region, the $120m. London in addition to other to the centre. opening of an antiquities The new project will produce an estimated;) 100,000 state of lawlessness in the Arab and foreign countries, ITALY LAYS DOWN IN-DEPTH STUDY ON UPGRADING office, financial support for tonnes of bip-ethanol every year. Meanwhile, the investors Iraqi market, given that the he said. investment projects in the are planning to expand the project by constructing new pro- Egyptian companies operating EGYPTIAN RAILWAY SYSTEM region and transformation of in Iraq since the invasion, such CAIRO TERMINAL Industry and Foreign Trade Minister Hatem Saleh said Saturday that Italy is laying down one of the buildings into a her- duction lines, which will use rice stubble and agricultural as Orascom Construction 3, ONE RUNWAY a comprehensive study to upgrade Egyptian railway system including modernizing trains itage hotel. Waste. - Industries (OC1) and Arab WILL BE equipment, crossings, light signals besides rehabilitate workers according to up-to-date tech- Some historical sources SR 1.49B. SET FOR MAKKAH ROAD Contractors have not face any nology methods. refer to the history of Jeddah probjems so far. OPERATED AS OF The minister, in a meeting with Italian ambassador in Cairo Maurizio Massari, discussed means as pre-dating the Islamic era. WORKS Makkah Municipality has signed four contracts worth Several areas in Iraq, such JUNE of boosting trade and economic cooperation, trade exchange as well as bilateral investments. However, a major turning • as Kurdistan, did not witness Cairo International Airport Saleh pointed out that Italy plans to transfer 25 Italian plants to Egypt within the coming peri- point occurred during the SR 1.49 billion for the construction of intersections with any security leniency where will operate as of June od, adding the cabinet is keen on receiving more Italian investments. He highlighted that President reign of Utlunan bin Affan, the various highways crossing the new Ring Road IV, Arab there is a lot of operating inter- Terminal 3 and one runway Morsi's visit in September to Italy helped develop and boost bilateral relations. He discussed with third caliph, who had ordered News said. national companies, he said, only from I :30 am until 5:30 the ambassador means of settin g up Egyptian-Italian industrial zone in al-Alameen on ten million that Jeddah be made a harbor Makkah Mayor Osama Al-Barr said the municipality aims am, announced the Civil pointing out that Iraq owns square meters that can harbours almost 2000 plants. to receive pilgrims. to develop an advanced network of modern roads to link var- great potentials and capabili- Aviation Ministry. In a state- Massari, for his part, said Italy considers Egypt one of the most important strategic partners in The area is considered to be ious places and districts in the city. ment Sunday, the ministry Africa and the Middle East, adding Italian businessmen seek investments in Egypt in the coming ties which qualify it to retain most important due to its When completed, the Ring Road N will be a major addi- its prosperity. Tawfik called on said that the decision was period. authenticity, distinguished made given the decline in air tion to the transport infrastructure in the holy city. the gqvernment to support the QANDIL DISCUSSES DEVELOPING SUEZ GULF . planning and unique architec- It will resolve bottlenecks and traffic jams that plague the Egyptian companies seeking traffic rate during this time ture. It has historical land- and to save energy as well. INDUSTRIAL ZONE city during the peak Haj and Umrah seasons, the mayor said. to invest in Iraq, especially in marks and buildings such as The contracts have been signed with specialised compa- light of the liquidity crises wit- During his meeting on Prime Minister Hisham Qandil last week held a meeting with a number of officials to discuss the Old Jeddah wall and gates, Sunday with reporters, means of developing the Industrial Zone in North West Gulf of Suez. The meeting tackled ways Al-Mazloom, Al-Sham, Al- nies experienced in such works. nessed by these companies. Aviation Minister Wael el- to develop the zone and take advantage of the available lands in the area to attract foreign The contract for the intersection of Madinah Road with the Former Chairman of the Maadawi said that the Yaman and the Al-Bahar quar- investments in order to create a number of industrial projects, said Cabinet spokesman Alaa al- ters, in addition to a number of ring road and a connecting road with the Old Jeddah Road is High Dam Electiced and expenses of receiving 27 Hadidi. at a cost of SR 633.14 million while the second contract of Industrial Projects Company flights during this time are historical mosques including The general plan of the zone includes establishing housing units for labour, transport projects Othman bin Affan, Al-Shafie, SR 418 million is for the ring road's intersection with the Osama Battah asserted that the five times the fees garnered and high-speed transport trains, he said. Egyptian electricity compa- by the airport. Al-Basha, Ukash • and Al- Taif Sale road. Qandil also discussed projects of east Port Said area, the spokesman added. Hanafi. The third project worth SR 360.64 million is for a link nies should have an access to $505M, FROM WB between Taif Sale road and Madinah Road on the ring road Iraq, urging for the transfer of 1,000 PROJECTS and the fourth contract is for an intersection of the ring road cash to the Iraqi market, given FOR FINANCING with the Old Jeddah Road for SR 80.34 million. the banks' reluctance to offer FOR DEVELOPING REMOTE letters of guarantee to these & UNDERPRIVILEGED AREAS HELWAN KSA TO IMPORT 4.8 M NEW companies. The government has set the end of June 2013 ELECTRICITY COMPUTERS BY 2015 Moreover, he called for as a deadline for completing a national project STATION Saudi Arabia will import 4.8 million computers by finalising Egypt-Iraq power for developing remote and underprivileged . After three years of 2015, according to a report from the International Data linkage project which would areas in Egypt. negotiations, the World Corporation (IDC), Arab News said. help enhance bilateral co- operation. An official source said the government has corn= Bank (WB) has finally The personal computer market in Saudi Arabia has contin- ued to grow in 2012 to SR 2.105 million last year, according Earlier this month, Egypt pleted 120 projects, which will be ready for opera- agreed on extending a loan and Iraq inked an agreement, tion, adding the government is currendy focusing at the value of $ 505 mil- to the IDC. whereby Iraq would provide on projects, which are carried out in remote and lion for financing the Saudi Arabia is the third-biggest market for information four million barrels of oil underprivileged areas. establishment of the giant and communication technology in the Middle East after monthly to the embatded The source said the government is seeking to Helwan generation station Turkey and United Arab Emirates, with a growth rate of 4.7 Egyptian General Petroleum at the capacity of 1950 per cent. reach immediate solutions whereby it can eliminate Corporation (EGPC). Such an megawatt. "We see considerable progress in technology in Saudi agreement would contribute to obstacles facing projects so that citizens may feel Minister of Electricity and Arabia. There are currently 8.88 million personal computers. tangible improvement in services. providing 4,000 tonnes of Energy Ahmed Emam said The demand for desktop computers has gone down gradual- diesel oil to Egypt, a matter The source said co-ordination is currendy main- the value of financing elec- ly," said Abdul Aziz Al-Anzi, a research analyst for the IDC. which would help fill the gap tained between the Ministries of Health, Public tricity projects till 2017 hit He said there was now a greater demand for ultra-book and between Egypt's production of Utilities, Electricity, Irrigation and Local well over L.E. 120 billion, of tablet devices because of their thinness and elegant designs. diesel oil, hitting 22,000 Development to set a mechanism for implementing which the electricity sector The proficiencies and sensitivity of the smart devices are tonnes daily, with consump- the new projects. contributes the largest share. meeting user's requirements. • tion reaching 35;000 tonnes. APRIL 3 , 2013 BUSINESS OPPORTUNITIES Mt 'gni 4 AFRICA & ASIA NEWS Business Opportunities MOROCCO GEARS UP FOR GULF A.R.E. Texts, Laws and Regulations INVESTMENT FORUM (Tenders Prepared by Our Staff) The third Gulf-Moroccan Investment Forum will be *** Official Journal - Issue No.8 (Bis-A) - Dated 23 February 2013 held from May 6 to 8 at the Movenpick Hotel in Tangier, - Supply of 40 000 Water Meters ,5 Law No.3 of the year 2013 concerning Exempting the Establishments Morocco,-TradeArabia News Service said Due date : 16.4.2013 - City of Scientific Researches and The theme of 'Gulf Invest' this year is 'Strategic partner- And the Insured From the Additional Amounts due thereon to the ship for building future economy', said a team from Morocco, Booklet : LE 1540 Technological Applications in New Borg National Organization for Social Insurance which along with senior officials from the Bahrain Chamber of • Bid Bond : LE 100 000 El-Arab City, in Alexandria Governorate In the Name of the People; The President of the Republic; Commerce and Industry (BCCI) held a Press conference at the Client : Beheira Potable Water and Sanitary announces International General Tender Bait Al Tijjar yesterday. The Shura Council decided the following Law and it is hereby promulgated; Article: 1 More than 400 Gulf and Moroccan businessmen are expect- Drainage Co. - Damanhour. Offer between co. and institutions spe- *** The employers and the Insured shall be exempted from the additional amounts due thereon in ed to participate in the event, to be held under the patronage of cialized in the (technical, economic, respect of the contributions and installments due during the period from 1/2/2011 till the end of the the Federation of GCC Chambers of Commerce as well as the - Tender for import of new cement environmental, technological) fields con- month preceding the enforcing the present law, pursuant to the provisions of the Social Insurance Federation of Moroccan Chambers of Commerce and Industry. Law promulgated by Law No. 79 of the year 1975, the Law on social insurance regarding the "The idea is to discuss bilateral investment opportunities Grinding plant on full Turn Key Basis, cerning studies and design of proposed employers and the like promulgated by Law No. 108 of the year 1976, and the Law on Social and study joint ventures between the Gulf and Moroccan sides Due date : 8.5.2013 work plans of the investment area and Insurance regarding Egyptian workers abroad promulgated by Law No. 50 of the year 1978, pro- with the participation of economic, business and investment Booklet : LE 5000 thefollow up of its implementation / exe- vided that the exemption from such amounts shall be according to the following rates: organisations," Bahrain-Morocco Business Council chairman First: 100% of the value of the additional amounts: if the original due sums are paid in full at a Sager Shaheen told the Gulf Daily News, our sister publica- Bid Bond : US$ 400 000 cution in Scientific Researches and tech- date not exceeding six months from the date of enforcing the present law. tion. - Tender for new complete Goal Grinding nological Applications city. Second: 75% of the value of the additional amounts: if the original due sums are paid in full dur- According to forum chairman Mohamed Ait Bouselham, the ing the three months following the period stipulated upon in item-First. plant on full Turn Key Basis, Due date : 17.4.2013 50% of the value of the additional amounts: if the original due sums are paid in full dur- scope for partnerships is immense "in light of economic and Third: Due date : 15.5.2013 Booklet : LE 3000 ing the three months following the period stipulated upon in item-Second. business relations between both sides and also on the ground Article: 2 of agreements signed by both Gulf and Moroccan sides". Booklet : LE 5000 Bid Bond : LE 21 000 The employers and the Insured shall be exempted from the additional amounts due thereon in "The city of Tangier actually presents huge and promising Bid Bond : US$ 300 000 Client : City of Scientific Researches an respect of the contributions and installments due for the period before 1/2/2011 at a percentage business and investment opportunities as it has recently equal to 50% of the value of the additional amounts if the original due sums are paid in full at a become an important economic hub in North Africa attracting Client : National Cement Co. Tebbeen - Technological, www.etenders.gov.eg date not exceeding six months from the date of enforcing the present law. big European and US companies," he added.-TradeArabia Helwan - Cairo. *** Article: 3 This law shall be published in the ,Official Journal and shall come into force as of the day fol- News Service *** - Supply of labour wear, lowing the date of its publication. ETHIOPIA: COMMERCIAL BANK OF - Supply 100 tones of Iron sheets, Due date : 10.4.2013 This law shall be stamped by the seal of the State and shall be applied as one of its laws. ETHIOPIA DECLARES FOREIGN Booklet : LE 500 Issued at the Presidency of the Republic on 13 Rabie II, 1434 (Islamic Calendar), correspon- Booklet : LE 50 ding to 23 February 2013 (Gregorian Calendar). CURRENCY IS SUFFICIENT Client : El-Canal Co. for Maritime Bid Bond : LE 12 000 Mohamed Morsi The Commercial Bank of Ethiopia announced last Constriction - Port-Said. Client : Petrogas Co. Zaitoun - Cairo. ••• Wednesday (March 27th) that there is amount of foreign *** currency needed for the national economy was "suffi- Mob. : 010023669914 Al-Wakaye Al-Mesreya / Government Bulletin - Issue No.61 cient". Agencies saaid *** - International invitation for Operation Dated 14 March 2013 The Bank's Business Development Director, Yesehak - Supply maintenance, of spare parts for & Maintenance of New Cairo Raw Ministry of Tourism NIengesha, speaking to journalists said there should be no Water Intake, Booster Pumping Stations, Decree No. 170 of the year 2013 Promulgated on 4/3/2013 concern over a possible scarcity of foreign currency in the Internet Air chive Nodes, Lines and Water Minister of Tourism, country. Due date : 15.4.2013 Transmission After Preamble Any fear of this, he added, was created by a failure of prop- Treatment Plant, DECREED: . Booklet : LE 1000 er utilization. He said "only 50 per cent of the total foreign The New Urban Community Authority Article One currency provided by the bank has been utilized by customers" Bid Bond : LE 40 000 Applications for establishing tourism companies of different categories shall not be accepted, so the current rumors of any shortage are baseless. Client : Alex. Library - Chatbi - Alex. (NUCA) represented Construction temporarily, for a period of one year as of the expiration date of Decree No. 151 of the year 2012, He said the Bank was supplying adequate amounts of for- *** Authority for Potable Water and waste- as there is no need therefor in the Country during the current period. Article Two eign currency both in the private and the public sectors, taking water (CAPW) invites both International into consideration the country's overall developmental activi- - Tender for civil works construction of a The present Decree shall be published in Al- Wakaye Al-Mesreya / Government Bulletin, and the ties. new Plastic Sacs Factory in the and Egyptian companies as joint venture entities concerned shall implement same. Minister of Tourism The CBE's Vice-President. Mohammad Nuredin, added that Industrial zone - Baltim - Kafr El- or consortium specialized in operation the Bank monitors and predicts the inflow and outflow of for- and maintenance to submit their techni- Hesham Zaazoua eign currency every fifteen days, taking customers' demands Sheikh, into consideration, it was able to meet the demands of its cus- Due date : 23.4.2013 cal and financial offers for Operation & tomers properly. Maintenance of above mentioned project AI-Wakaye AI-Mesreya / Government Bulletin - Issue 63 Dated 17 Booklet : LE 1500 March 2013 He said the export sector and remittances were the major according to the regulations declared in sources of foreign currency. and that the Bank was currently Bid Bond : LE 30 000 Ministry Of Tourism Decree No. 212 Of The Year 2013 expanding its branch offices in different parts of the country Client : Co-operative Soc. for Agricultural the tender documents. Issued On 6/3/2013 with a view to increasing foreign currency inflow. Reform - Dokki - Cairo. Due date : 10.4.2013 Minister of Tourism After Thoroughly reviewing the provisions of Law No. 371 of the year 1956 on Public Shops; *** Booklet : LE 1500 NIGERIA: DELTA GOVT TO Presidential Decree-Law No. 85 of the year 1968 concerning the Establishment of Tourism _NPC - CALL PENSION FUND - Tender for supply Pharmaceuticals, Bid Bond : LE 10 000 Chambers and Regulation of a Federation therefor, and amendments thereof promulgated by Law *** No. 124 of the year 1981; Duedate : 21.4.2013 Law No.1 of the year 1973 on the Hotels and Tourism Establishment, and amendments thereof ADMINISTRAT I __TO ORDER ---- y ON rnmen , sat it had approached the Booklet : LE 700 - Tender for supplying spare parts, main- Law No. 186 of the year 1986 on Customs Exemptions, amendments thereofand oxecutiverege -- National Pension Commission to call some Pension Fund Bid Bond : LE 110 000 tenance of Equipments and Nets, ulations implementing same; administrators to order for unduly delaying payments to Decree of the Minister of Tourism No. 222 of the year 2012 on Restaurants and tourist shops: - Supply of Antibiotices, Due date : 10.4.2013 The memorandum of the Hotels and Tourism Establishments Sector No. (79) of the year 2013, retirees already cleared, so as to engender the required Booklet : LE 800 Booklet : LE 1000 recorded at the Minister Office under No. (1700) on 25/2/2013; confidence in the contributory pension scheme. Agencies The memorandum of the legal advisor to the Minister of Tourism recorded at the Minister iceoff said Bid Bond : 160 000 Bid Bond : LE 40 000 under No. (1308) on 14/2/2013; Speaking at the presentation of payment advice to some Client : Ministry of Electricity - Nasr City - Client : The Holding Co. of EgyptAir - The correspondence of the Minister's legal advisor to the Hotel and Tourism Establishments retirees by Oak Pensions Limited, under the contributory pen- Cairo. Airport Road - Cairo. Sector under No. (247) on 25/2/2013; Chairman, Bureau of Local The memorandum of the Hotel and Tourism Establishments Sector No. 137 of the year 2013; sion scheme in Asaba, *** *** Government Pensions, Mrs. Patience Ikomi, said: "To get to And this stage, the Bureau worked tirelessly to establish a data base ARAB TENDERS After seeking the opinion of the Egyptian Tourism Federation (ETF) by the correspondence No. - Supply of 14000 Iron-Sheets Barrels for (246) dated 25/2/2013; for council workers and primary school teachers in the state. Medical oil, AL-EIN - UAE DECREED This had facilitated the deductions at source of the 10 per cent Article (1) ----taitti-4'5-per-eeirt-government s and employees' contributions Due date : 14.4.2013 - Tender for construction of a Mosque Article No. (11-Bis) shall be added to the Articles of the Ministerial Decree No. 222 of the year respectively as well as the five percent redemption fund with Booklet : LE 1000 for 500 prayers, 2012 on Restaurants and Tourist Shops, to read as follows: effect from April 1, 2011. "F or floating and regular restaurants as well as tourist shops, the competent authority may- after "It has helped to determine the value of the past services of Bid Bond : LE 30 000 Due date : 14.4.2013 referring the matter to the Minister of Tourism- grant its initial approval on the project, despite the employees' accrued rights, who transited into the new scheme Client : Nmria Refinery - Kilo 17 - Alex Booklet : Derh. 500 nonsatisfaction of the whole conditions by the applicant, subject to satisfying the condition of with effect from that date.* It is a sore point to note that some Cairo Road. approving the drawings of the project by the competent authority, based on the type of the estab- Client : Gneraal Authority of Islamic lishment. In case of the floating tourism establishments, a handover minutes of the anchorage need- Pension Fund Administrators, PFAs, have unduly delayed pay- *** ments to retirees already cleared by the Bureau. Affairs, ed for operation shall be submitted and the approval of the Supreme Council for the Protection of River Nile shall be obtained, after inspecting the location of the anchorage allocated for the opera- The Bureau is taking up this matter with the National - Project for replacement of Drainage [email protected] tion. Pension Commission, Abuja. I appeal to such PFAs to brace up lines in Tourah and Maasarah zones - *** In case of initial approval, the applicant shall be notified of the other conditions that need to be to ensure that retirees' benefits are released without unwarrant- South Cairo, fulfilled, where a grace period shall be granted to such applicant of maximum 6 months that may ed delays to engender the required confidence in the scheme." - Tender for construction of a Mosque be renewed should the applicant demonstrate seriousness in satisfying other remaining conditions" JAPAN SLASHES IRAN CRUDE Due date : 15.4.2013 for 1800 prayers, Article (2) Booklet : LE 2000 Due date : 14.4.2013 The present decree shall be published in Al-Wakaye AI-Mesreya / Government Bulletin and shall IMPORTS apply as of the day following its date of publication. Competent bodies shall apply same. Bid Bond : 100 000 Booklet : Derh. 1000 Minister of Tourism Hisham Zaazou Client : The Holding Co. for Potable Water. Client : Generaal Authority of Islamic ••• *** Affairs, AI-Wakaye Al-Mesreya / Government Bulletin - Issue No. 63 Dated - Supply of Maiz (Shami) [email protected] 17 March 2013 Due date : 8.4.2013 *** Ministry Of Tourism Decree No. 215 Of The Year 2013 Bid Bond : LE 100 000 SAUDI ARABIA Issued on 6/3/2013 - Supply of Maiz Gloutin, Minister of Tourism - Supply of FLAME ARRESTOR, Having taken cognizance of Law No. 38 of the year 1977 on the Regulation of Tourism Due date : 8.4.2013 Due date : 7.4.2013 Companies and amendments thereof; Bid Bond : LE 15 000 Presidential Decree-Law No. 85 of the year 1968 concerning the Establishment of Tourism Boolet : SR. 67 Chambers and Regulation of a Federation therefor, and amendments thereof promulgated by Law Client : Sohag Governorate. Client : Chevron Co. No. 124 of the year 1981; *** Decree of the Minister of Tourism No. 209 for the year 2009 promulgating the Executive htte : Jopcontractrors.chevron.com Regulations of the Law on organization of tourism companies after amending same by Law No. Japan's crude oil imports from Iran fell nearly a third in - Supply of yellow maiz (Shamia), *** 125 for the year 2008 in addition to any amendments included in the Executive Regulations; February from the same month a year earlier, trade min- Due date : 8.4.2013 The memorandum of tourism companies and tourist guides sector No. (618) on 30/12/2012 reg- istry data showed on Friday, as tougher western sanctions - Supply of Medical equipment (MFR. istered at the office of the Minister of tourism under No. (10175) dated 31/12/2012; targeting payments and insurance appeared to bite.- Booklet : LE 200 various manufacturers) Memorandum of the legal advisor to the Minister registered at the Minister's office under No. Reuters said Bid Bond : LE 25 000 Booklet : RS. 450 (1306) dated 14/2/2013; , Imports by Japan, Iran's No.3 crude buyer, are expected Client : Agricultural Researches Center, And after taking the opinion of the Egyptian Tourism Federation (ETF) by the correspondence to continue declining this year after dropping 39.5 per cent Due date : 8.4.2013 No. (235) dated 28/2/2013; Cairo. - Supply of contract of safety shoes & DECREED last year as the US and the European Union ratchet up *** (Article One) sanctions targeting Iran's disputed nuclear programme. helmets for three (3) years (MFR. as The following text shall replace the second paragraph of Article (4) of the Under pressure from sanctions, Iran's overall oil exports - Scientific programmes, specified on each items) Minister of Tourism Decree No. 209 of the year 2009 promulgating the Executive Regulations more than halved last year, costing it over $5 billion a month. Due date : 10.4.2013 of the Law on organization of tourism companies: Japan's February crude imports from Iran were 953,848 Booklet : RS. 75 "A tourism company may establish a branch therefor in a touristic governorate, subject to hav- kilolitres (214,268 barrels per day), down 32.3 per cent from a Booklet : LE 100 Due date : 8.4.2013 ing a turnover from inbound tourism during the two year preceding the application for licensing the year ago and 19.1 per cent lower than in January, data from the Bid Bond : LE 2000 - Supply contract of casing & tubing branch not less than 15 million Egyptian Pounds. Such license shall remain effective, conditional Ministry of Economy, Trade and Industry (METI) showed. Client : Electronic Researches Institute - on realizing a turnover of no less than 18 million Egyptian Pounds for the whole company during For the first two months of 2013, Japan imported 2,132,205 pipes with pub joints & coupling for the two years following the issuance of the license of the branch." kl (227,308 bpd) of Iranian crude, down 30.8 per cent from the Dokki - Cairo. three (3) years (MFR. as per attached (Article Two) same period a year ago. *** The present decree shall be published at AI-Wakaye Al-Mesreya and shall apply as of the day approved MFRS list) following its publication. Competent bodies shall undertake to apply same. The figures contrast with customs-cleared data last - Supply 2000 tones of printing paper Thursday which showed Japan's Iranian crude imports rose Booklet : RS. 650 Minister of Tourism 15.9 per cent in February to the highest in eleven months, but (Rolles) 82 Cm. (Imported-or Local, Due date : 8.4.2013 Hisham Zaazou the industry considers the trade ministry data a benchmark Due date : 8.4.2013 Client : Al-Khafji Joint Operations, because it tracks the actual import status of oil tankers. Booklet : LE 500 Tel. 03-7655561 The International Energy Agency said in its March report Banque Du Caire FOREIGN EXCHANGE RATES *** that new US sanctions on Iran implemented in February. which Client : Al-Sharkia Advertising Co. - Cairo. Treasury Department IN EGP POUNDS barred the country from repatriating oil export earnings, DATED APRIL 1, 2013 appeared to have not had an impact on February shipments. Iranian crude oil exports were expected to hold strong and CURRENCY BUY SELL even exceed 1.4 million bpd in March from 1.28 million bpd in February, said the lEA, which coordinates the energy poli- US Dollar 6.803000 6.833100 cies of major consuming nations. Euro 8.635000 9.095000 The report was at odds with industry expectations that the Pound Sterling 10.265000 10.760000 Canadian Dollar 6.550400 7.024700 new U.S. measures would push Iran's exports in March to their Danish Krone 1.114700 1.234700 lowest since Western sanctions came into effect in 2012. Norwegian Krone 1.115000 1.225700 Earlier this month, the United States extended 180-day Swedish Krone 1.003100 1.097000 waivers on Iranian sanctions to Japan and 10 European Union Swiss Franc 6.998100 7.532200 nations in exchange for their cutting purchases of the Opec Japanese Yen 7.066900 7.629300 nation's crude oil. Australian Dollar 6.930400 7.395800 Most other major Asian buyers of Iranian crude also cut Kuwaiti Dinar 23.178000 24.507000 i mports last month, although China, Iran's top crude oil cus- Saudi Arabian Rial 1.804400 1.868600 UAE Dirham 1.908100 -. was , 1.848600 i ---ption and imported 521,330 bpd, up 81 per- Bahraini Dinar 17.824000 18.675000 . i l)) I . , Omani Rial 17.382000 18.285000 red s 1 oil imports from Iran by 43 per cent to Qatar Rial 1.848600 1.922900 1 4- ,1 a year ago, as New Delhi struggled with Jordanian Dinar 9.252000 9.961100 ne that may trigger more cutbacks in ship- From Al Riyadh Above rates are applicable for amounts up to USD. 25.000 or equivalent for larger amounts, please refer to Treasury Department.

ARAB & GULF MARKETS 5 QATAR Pope Francis EXXON IN TALKS TO SELL IRAQ ENI MAY OPEN ECONOMY FIELD STAKE TO MUBADALA IRAQ BUSINESS GREW 6.2% IN praye for a Exxon Mobil is in negotiations to sell 5 per cent of its TO CHINA'S CNPC stake in Iraq's West Qurna-1 oilfield to Abu Dhabi's state- Italian oil and gas group Eni 2012 "political run investment fund Mubadala, part of the US major's is considering opening its Qatar's rate of economic moves to reduce its exposure there, Iraqi oil officials said business in Iraq to investment growth more than halved solution" in last Thursday. - Reuters said by Chinese oil company last year to 6.2 per cent as Exxon has said it plans to sell its stake in the $60 billion CNPC after offering it a stake a surge in global oil prices Syria and for field after upsetting Iraq's central government by signing in its bumper Mozambique gas abated, but its construc- deals with the country's autonomous Kurdistan region, agree- field earlier this month, two tion, finance and manufac- "reconcilia- ments which Baghdad rejected as illegal. sources said. turing sectors expanded by The central government had told the US oil company it The sources, one close to a around a third and tion" on the would have to choose between West Qurna and the Kprdistan the deal and the other govern- should grow again this oii deals, but Baghdad still offered Exxon sweeter terms in an mental, added that no talks year. - Reuters said attempt to keep it working in the southern oilfield. were yet under way with the Output in mining and Korean "Exxon is staying in West Qurna-1 at least until next year, Chinese group. "The idea is quarrying, which includes but same time the company is moving ahead to cut its share being examined, though we oil and gas and accounts for peninsua in in the West Qurna project to shift focus to other projects," said have not yet reached that almost half of the Gulf one Iraqi oil official without giving details. state's GDP, rose only 1.7 his first point," one of the sources said. Two Iraqi oil officials, who spoke on condition of Eni declined to comment. per cent last year following a anonymity because they. were not authorised to talk to the Two Iraqi oil ministry offi- surge in oil prices which Easter mes- media, said Exxon's] allocation of $1.65 billion to develop the cials said they were not drove the economy overall field in 2013 indicated it planned to stay until next year. to 13 per cent growth in sage in front informed by Eni of any inten- 2011, the country's statistics tion to sell part of its stake in authority said. of a crowd in the Zubair oilfield to CNPC or But the construction and any other company. - Reuters finance sectors, which each St. Peter's said account for more than a Last year Eni chief execu- tenth of GDP. both grew by Square. tive Paolo Scaroni said the 34 per cent, while manufac- major's enthusiasm in Iraq was turing expanded by 28 per on the wane because of diffi- cent. culties in the country. But the The quarterly growth in company confirmed its com- the fourth quarter slowed to SABIC REITERATES STRONG INTEREST IN SINGAPORE mitment to Iraq after .Scaroni 0.1 per cent from the 1.7 per The Saudi Basic Industries Corporation (SABIC) is seeking to expand collaboration with the business sector in visited Prime Minister Nun al- cent rise in the third quarter, Singapore, and to continue to be a reliable source of quality products and services to Asia. This strong interest in Singapore Maliki. and Asia, SABIC's largest market, was conveyed by Prince Saud bin Abdullah bin Thenayan Al-Saud, chairman of SABIC the statistics authority said, Violence in Iraq has eased and the Royal Commission for Jubail and Yanbu, and SABIC Vice Chairman and CEO Mohamed Al-Mady to Lee Yi but was still 6.6 per cent since the height of the war in year-on-year. Shyan, Singapore's senior minister of state, Ministry of Trade and Industry, and National Development, during his visit to SABIC headquarters in Riyadh on March 20. the country, though security Earlier this month Finance remains a concern. Minister Youssef Kama! said SABIC's Asia operations, which have been experiencing a strong double-digit growth, are headquartered in Singapore. The two ABU DHABI'S WEST TO BE NEXT sides exchanged views on how to further these business relations, Singapore being the hub of SABIC's regional operations. Arab On March 14, Eni said it Qatar, the world's top natural DEVELOPMENT HOTSPOT had agreed to sell a 20 per cent gas exporter, expects more News said In comments after the discussions, Prince Saud said that SABIC is proud and privileged to partner with Singapore's vibrant busi- Abu Dhabi's Western Region is poised to become the stake in its Mozambique off- rapid growth in its non- UAE's next development hotspot, with economic output shore gas acreage to CNPC in hydrocarbon economy this ness sector. "Saudi Arabia has had an excellent history of relations with Singapore, and has seen many high level visits from both sides. We are experiencing a growing trend in these relations and SABIC is well positioned to be part of this growth story," he said. expected to reach more than Dh500 billion ($136 billion) a $4.21 billion deal, giving it year. in 2030, according to the Al Gharbia Investment extra funding and reducing its "We expect in 2013 to see Al-Mady said Singapore's strategic location facilitated easy access to Asian markets. "It makes it easier for us to conduct busi- ness with our customers in the region, adding value to our regional operations and helping us grow. Moreover, Singapore's skilled Roadmap. share of the development bill. nine per cent growth in the The projected rise in the region's GDP, up from just At a meeting in Ravenna non-hydrocarbon sector. In workforce and advanced infrastructure strongly supports our long-term goals for growth in Asia, and creates value for our cus- tomers," he said. Dh243 billion in 2010, will largely be driven by an estimated earlier this month Scaroni said the hydrocarbon sector, we Dh240 billion worth of projects invested in key economic no talks were under way with do not expect to see an Besides its headquarters in Singapore, SABIC's Asia operations are spread across 40 offices in the region, with three technolo- gy and innovation facilities. Asia is SABIC's fastest growing region globally. sectors such oil & gas (Dh120 billion), power generation CNPC or other possible part- increase before 2017," he (Dh62 billion), infrastructure and transportation (Dh54 bil- ners with a view to helping told a financial conference. The minister of state was accompanied by Desmond Ng, charge d'affaires ad interim; Francis Chong, director, Ministry of Trade and Industry; Goh Wee Hong, deputy director, Building and Construction Authority; Feroz Siddiqui, director, International lion) and tourism (Dh4 billion). fund operations in Iraq. QNB TAKES Enterprise Singapore Center; Khalil Abu Bakar, director, Economic Development Board Center; Desmond Chua, assistant direc- In the next five years, Al Gharbia will witness the comple- China National Petroleum OVER SOCGEN'S tor. Ministry of Trade and Industry; Guo Weimin, first secretary; and Akshay Kothari, embassy officer. tion of the initial stages of a number of multi-billion dollar Corp (CNPC) is the parent of projects, such as the Madinat Zayed residential develop- China's second largest refiner EGYPTIAN UNIT KUWAIT NON-OIL GDP GROWTH SEEN AT 5% ments, a complex that will feature over 100 apartments, retail PetroChi na . Kuwait's non-oil GDP is expected to grow at 5 per cent in 2013, after a weak growth in earlier years due to the fallout Qatar National Bank shops, a health club, a mosque and offices and the expansion Eni, US-based Occidental from the global financial crisis, said a report by National Bank of Kuwait (NBK). (QNB) Group said it has of Ruwais refinery owned by Takreer. Petroleum Corp and South The growth in 2011 was affected by falls in output in the trade, manufacturing and finance sectors. The latter was likely completed the acquisition On completion in the first quarter of 2014, the refinery Korea's Kogas signed a 20- of a controlling stake of affected by continued deleveraging at investment firms, the NBK report stated. -TradeArabia News Service said will produce a total of 832,000 barrels per day of oil (bpd). - Although growth has probably picked up a little since, a faster pace of government project spending and aggressive economic year deal with Iraq in 2010 to 97.12 per cent in National TradeArabia News Service said develop the Zubair oilfield, Societe Generale Bank - reforms are needed to provide a more permanent boost to growth, it added. Another significant development is the Abu Dhabi National The recently-released data from the country's top lender showed that Kuwait's non-oil economy grew by a subdued 0.9 per cent where production is around Egypt (NSGB), a unit of Oil Company (Adnoc)-funded Etihad Rail, which will cover 270,000 barrels per day (bpd). top French lender Societe in real terms in 2011 as key sectors continued to feel the fallout from the financial crisis. a network of up to 1,200 km connecting the UAE to Saudi In addition, growth in earlier years was revised down from previous estimates, which now show that the non-oil economy con- The consortium expects to Generale. -TradeArabia Arabia via Ghweifat in the west and Oman via Al Ain in the invest $18 billion in the field. tracted for three straight years between 2008 and 2010. east. News Service said In January head of state- NTSM93---R the second "We expect growth to have picked-up somewhat in 2012, thanks partly to strong growth in the consumer sector, and our fore- The Adnoc project is expected to be complete its initial run South Oil Co said a group largest private bank in Egypt cast for non-oil growth of 5 per cent in 2013 remains unchanged," said the NBK in its report. phase this yeah and will connect the illage of Shah (in Liwa led by Eni was in final talks with 160 branches across the But faster implementation of government capital spending projects and a more aggressive approach to economic reforms are oasis) to Ruwais. country, and more than needed to put Kuwait's economy on a permanently higher growth path, it added. These projects and other planned developments will be with Iraq to cut the Zubair pro- 4,500 employees. discussed comprehensively at the inaugural Al Gharbia, duction target to 1 million bpd MIDDLE EAST BANKS' REVENUES UP 6.9 %' ; -from 1.2 million . Egypt's regulator had in Middle East banking revenues continued to grow at single digit rates in 2012, posting a 6.9 per cent increase, a study DeeloPinerit Forum, to be held in "AbuDhabi on May 2 7. February approved the QNB said. "Working together with our partners MEED Events, I am BAHRAIN SHIP offer after insisting that the Profit's increased by 8.1 per cent due to an overproportional increase in extraordinary income, shows a recent study by delighted to invite you to attend the Al Gharbia Development REPAIR FIRM Qatari lender buy 100 per the Boston Consulting Group (BCG). -TradeArabia News Service said Forum that will highlight the region's investment and devel- cent of Egypt's second- Based on 2012 annual results as reported by the banks in the first quarter of 2013, the new study is part of BCG's annual bank- opment potential," said Mohamed Hamad bin Azzan Al SEES DROP IN largest private sector bank ing performance indices measuring the development of banking revenues (operating income) and profits for leading Middle East Mazrouei, the director general, Western Region Development by market value rather than Council. PROFITS banks, reported the Gulf Daily News, our sister publication. Bahrain Ship Repairing the originally planned 77 per BCG launched the first edition of the banking performance index in the Middle East in April 2009, creating a customised index, "Our focus for this forum is to work together with our key cent stake. - strategic partners - the Western Region Municinality (WRM), and Engineering Company specifically for the regional banking markets, with 2005 revenues and profits as starting benchmarks. said its revenue fell from According to experts, The index covers the largest banks in Bahrain, Kuwait, Qatar, Oman, Saudi Arabia and the UAE, the report stated. the Abu Dhabi Department of Economic Development (AD Societe Generale had sold its DED) and the Abu Dhabi Urban Planning Council (UPC) BD7.13 million ($18.7 mil- While banks in Qatar grew revenues by 12 per cent and banks in Saudi Arabia and Oman achieved high single digit growth rates, lion) in 2011 to BD5.44 mil- majority stake in the banks in the UAE, Kuwait and Bahrain achieved a revenue growth rate of 5 per cent or below. among others - to achieve our goal of laying the foundations lion ($14.3 million) mainly Egyptian unit to QNB for $2 Banks in all countries achieved above 7 per cent profit growth rates, except in Kuwait with 3 per cent. for sustainable economic growth across Al Gharbia for the due to volatility in the ship billion, as part of the French "The 2012 BCG index includes 32 banks from across the GCC capturing nearly 80 per cent of the total regional banking sec- benefit of all. To achieve this, we also need the support of the bank's bid to meet new capi- tor," said BCG's Dubai office senior partner and managing director Dr Reinhold Leichtfuss, who is also leader of BCG's Financial private sector," stated Al Mazrouei. repair industry coupled with tal requirements. Institutions practice in the Middle East. "The forum will highlight the specific projects and oppor- increased competition. - UAE LEADS GCC "While the performance of Middle East banks settled at high single digit growth figures in 2012, it still compared very well with tunities where investors and businesses can play an early and TradeArabia News Service the international banks which experienced a further revenue decline. practical role. It will pinpoint exactly where to invest and how said IN QUALITY "This provides the Middle East banks the opportunity to undertake the necessary investments in capabilities and regional expan- this can be profitably done," he added. The company's gross profit AWARDS sion," he added. As a strategic guide for all the development initiatives in too was down from BD3.5 The 2013 MEED In an environment of slower market growth, smart strategies and better capabilities are essential to grow more than the compe- the Western Region, a comprehensive plan has been formulat- million to BD2.3 million, said a report in the Gulf Daily Quality Awards for tition. ed and encapsulated in the visionary framework called Al News, our sister publication. Projects, in association Leading Middle East banks are striving for regional expansion to find new areas for growth. Gharbia 2030. "The Western Region of Abu Dhabi has abundant natural Speaking at the group's with Ernst & Young, Many Middle East banks are prioritising better customer service as a critical part of their agenda. resources and much untapped potential. The Al Gharbia annual meeting, Bahrain Ship have announced the $ 5.1 B. TRADE: KSA REMAINS GULF'S LARGEST PHARMA MARKET vision calls for this to be develop and harnessed to the Repairing and EngineeringEngineering national winners of the Saudi Arabia is expected to maintain its position as the largest pharmaceutical market in the Gulf, according to a extraordinary developments taking place in other parts of the Company chairman only GCC-wide awards report. The UAE is the second largest, Arab News said. emirate. Particular attention will be paid at the conference to Jasim Kanoo said, "The con- programme that recog- The GCC Pharmaceutical Industry report released by Alpen Capital said the GCC pharmaceutical market size was esti- agriculture and food-processing industries; tourism and struction by Asry of two new nizes completed quality mated at $ 8.5 billion in 2012, compared to $ 7.7 billion in the previous year. Saudi Arabia is the largest pharmaceutical mar- leisure; infrastructure and basic services," said Edmund slipways with comparable projects, Saudi Gazette ket in the GCC totally valued at $ 5.1 billion, primarily on account of its large consumer base. The per capita sales in the O'Sullivan, the Meed chairman. capacity to our floating dock said. year amounted to $ 175. "These and other topics will be comprehensively and has definitely increased com- Thirty of the highest The total value of the UAE pharmaceutical industry was estimated at $ 1.6 billion in 2012, having grown by close to 3 authoritatively explored by an expert panel of high level gov- petition locally." quality projects in Bahrain, per cent from $ 1.5 billion in 2011. ernment speakers and other experts drawn from the private "The company is conscious Kuwait, Oman, Qatar, The Saudi market thrives, on provision of free medical and health care services by the government to its citizens. Around sector in Abu Dhabi, the UAE and the world outside," he of the importance of being Saudi Arabia and the UAE 35 per cent of the pharmaceuticals available for sale are purchased by the government. However, compulsory health insur- added. To date, Al Gharbia's regional economy has been competitive in the present day have been declared nation- ance for expatriates, who reside in the Kingdom in large numbers, and the healthy personal income of locals mean that the dominated by the oil and gas industries, with construction and market conditions and has al winners. These projects private sector's contribution and out-of-pocket expenditure is also high. manufacturing also driven by the energy sector. Although it is taken several cost-cutting were short-listed by an Pharmaceutical expenses' of expatriates are covered under insurance policies maintained by their employers, while locals acknowledged that this will remain the case, the government measures. We are confident esteemed panel of judges, are not reluctant to purchase expensive medication even if they have to directly bear the costs. The GCC Pharmaceutical hopes that other industries will play a larger part in the econ- that with these the company all respected experts in the Industry report released by Alpen Capital says that the pharmaceutical sector has witnessed considerable progress over the omy in the future. will soon resume its upward projects industry, on the years. "The industry is expected to experience sustainable growth in the medium to long term. Increased domestic produc- ASRY REGISTERS SOLID SALES growth trend and overall we basis of their economic, tion, foreign investments, and consumption of generics are likely to support the market's evolution," said Sameena Ahmad, GROWTH remain positive about the social and environmental managing director of Alpen Capital. According to the report, the sedentary lifestyles and increasing life expectancy have led Bahrain-based Arab Shipbuilding & Repair Yard future prospects of the compa- impact; as well as innova- to spread of chronic ailments thus resulting in increased drug consumption. (Asry) has got off to an excellent start in 2013 with its sales ny," he stated. tions and achievements in High levels of urbanisation and a strong expatriate presence also support pharmaceutical sales growth in the region. reaching $35.8 million in the first two months against Kanoo pointed out that the design, engineering and Growing income levels and the resultant higher spending power of people have improved the quality of life and their over- $24.6 million for the same period last year. company had embarked on the construction. all ability to spend on medicines. General health awareness among the residents has also increased. The number of vessels which were repaired in the compa- expansion of its facilities and had already awarded the proj- 111 MN 1.1111 IWO INN MN IMO ...... ny's dry docks over this period was 37, against 38 during the same period of last year, said a report in the Gulf Daily News, ects to local contractors. ISLAMIC BANKING AMONG KEY our sister publication. -TradeArabia News Service said "The company has finalised TOPICS FOR TURKISH-ARAB Such results were a positive indication that the ship repair a long-term lease agreement market is bouncing back, Asry chairman Shaikh Daij bin for 15 years with the General ECONOMIC FORUM Organisation of Seaports for (Cont. from page 1) Salman Al Khalifa told directors at a board meeting. He predicted that the volume of sales would further an area of 12,000 sq m at the The forum's programme will include keynote speeches delivered by Ukrainian First Vice-Prime Minister Sergei increase by the end of the year, with good progress being wit- Mina Salman Port and our Arbuzov who will announce the Arab-Ukrainian Forum nessed by the dock. He said the board had approved the new depot of shipping containers being organized by Al-Ilctissad wal-Aamal on Oct. 3 of this bonus system which would replace the previous system. repairs had been established in year in Kiev, as well as Chairman of the Istanbul Stock "This is part of Asry's endeavours to improve benefits the leased area," said Kanoo. Exchange Ibrahim Turhan who will make public during the offered to employees and, of course, the bonus payment will "The major project of build- forum the launch of the Stock Exchange in its new name depend on the amount of profits realised and will be granted ing a new floating dock of after it was turned into a private company. to employees subject to the annual performance appraisal of double the capacity of our This will be followed by the launch of the Istanbul each employee," he said. He said the 2013-2017 strategic plan existing dock has progressed Financial Center (IFC) real estate project. included a number of projects intended to enhance the capa- and tenders have been invited As for the program of the sessions, it will cover the fol- bility of Asry to compete regionally. from 10 international ship- lowing topics: First: The prospects of bilateral co-operation The construction of a medium-sized dry dock, the fourth building yards from the Far in the field of real estate development through the develop- within Asry, would be an important project within the forth- East and within the Gulf and ments in Turkey and a selection of Arab countries. Second: coming five-year plan. these tenders will be opened The dynamics of Turkish-Arab regional co-operation in the This was designed to meet the expectations of current cus- within a month," he added.- aftermath of the Arab Spring. tomers and to attract new owners of medium-sized ships. In this session, the speakers will be Egyptian Investment "The plan includes programmes to improve the loyalty of Annual Minister Osama Saleh, Central Bank of Kuwait Gov. customers and to maintain the high standards of performance Mohammed Youssef Al-Hashel and Strategic planning by company employees through the development of their subscription Director at Audi-Saradar Group Freddie Baz. Third: The skills to ensure a high quality service to its customers," prospects of Arab-Turkish integration in the field of financial Shaikh Daij said. "The development of the consultancy divi- Egypt LE 275 markets and its positive impact on both sides. Fourth: Arab- sion of the company is a priority within the strategic plan so Abroad $420 Turkish cooperation in the fields of investment in Turkey, that it becomes a main database for the ship repair industry. and specifically in the sectors of petrochemicals, health and "This will coincide with the development of the capacity of £ 295 trade. Fifth: The potential of Islamic banking in the region the production engineering sector in the various facilities of and the use of sukuk to fund major projects in Turkey. TortiAl-Sharq Al-Awsat Asry in a way that will meet the expectations of the share- Tel.: 23939732 a. a APRIL . 3 , 2013

leading ban pharmaceutical anie's and orated

ADCO MISSION • Cephalexin • Cephalexin • Cinnarizine 75 • Chloramphenicol • ADCO is a leading Egyptian • Clindacin 150 • Clindacin 300 pharmaceutical manufactur- • Ginseng • Glutamarine • New Vitagins • Tetracycline ing, marketing and exporting • Vitagins different pharmaceutical prod- Creams, Ointments & ucts, especially AEROSOLS Suppositories • Adcocetine (Ointment) • Adocycline that improve patient health and (Ointment) add value to our community. • Adcozole (Cream) • Betaval (Cream) Arab Drug Company • Betaval (Ointment) • Betaval C (Ointment) • ADCO has been awarded ISO • Betaval S (Ointment) • 9001 certification as well as Candistan (Cream) • Candistan Vaginal (Cream) • an ISO 14001 certificate. Dichloren (Gel) • ADCO has modern produc- • Indomethacin (Suppositories) • Mycocort (Cream) tion facilities, which work • Septogel (Gel) • under strict GMP regulations Tetracort (Ointment) Syrups and has additional plans for • Allergyl • Expectyl • Medivit facility upgrade and expansion. • Mucolase • New Pulmonal Tablets • Orazone • Paracetamol • • Achtenon • Adcodipine • Adcokion Phenadone • Allergyl • Pulmonal N • Solvin • Solvin N • Amigraine • Candistan Vaginal • Toniplex • Vental • Candistan Vaginal Metered Dose Inhalers • Cnnaridone • Cinnarizine • Beclosone • lbravent S • Metrovent • Citro-Trim • Clomiphene • Vental • Diflorutacin 150 • Diflorutacin 500 • Vental Compositum • Dompidone • Entazole Aerosol Sprays • Enteroquine • Glibenase • Gynipral • Candistan • Lidocaine • Polybiotic • Histaseric • Hypotense • Izoptomil Solutions & Drops • Izoptomil SR • Adcomex (Eye drops) • Acne Biotic • Ketoral • Lexopam • Lexopam (Skin Solution) • Mebazole • Neo carbotrina • Candistan (Skin Solution) • Hexitol • Oblong paracetamol (Mouth Wash) • Oblong Pharmalgin • Orazone • Lubrican (Eye drops) • Septavlon • Oriplx hospital (Solution) • Paracetamol • Prednisolone • Solvin (Oral Drops) • Rivo 320 mg Ampoules • Rivo 75 mg • Rivo 100 mg • Adcokion • B12 Depot • Cyanocobalamine • Rivo 500 mg • Gynipral • Izoptomil • Salex • Rantitidne • Salex • Solvin Granulated Powder for Suspension • Vasopine • Vental • Amoxycillin • Cephadrol • Capsules Cephalexin • Amoxycillin • Amoxycillin • Cephalexin • Enteroquin Comp.

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The Arab Drug Company Factory : 5, El Massanei St., Amireya, Cairo, Egypt. 7 Tel. : 2284 2491- 2282 529 ;.283 2614 Scientific office : 10, Zaki St., Tawfikia, Cairo - Egypt. Tel/Fax : 25745171

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