The Middle East articles from August 2004

The Middle East archives from August 2004

Comment.(Editorial)
August 1, 2004... IT'S OFFICIAL: THE WALL IS ILLEGAL. THE INTERNATIONAL Court of Justice (ICJ) ruling in the Hague confirmed in July what most of the civilised world has been saying for many months--that Israel's planned erection of a concrete structure, almost...

Between a wall and a hard place.(Current Affairs)
August 1, 2004... Israeli Leader Ariel Sharon, who spearheaded lethal "retaliations" against Palestinians in the 1950s, conquered the Sinai in the 1960s, razed homes in Gaza and became godfather of the settlers the 1970s, invaded Lebanon in the 1980s, and fought...

Friends in high places? The Nato summit left Turkey in no doubt of its standing with the US administration, but will the praises of President Bush fall on deaf ears in Brussels? Jon Gorvett reports from Istanbul.(Turkey)
August 1, 2004... WHEN THE SMALL ARMY of journalists, politicians, diplomats and workers had finally packed up June's Nato summit in Istanbul--and local residents breathed a sigh of relief--many were left wondering what the conference had demonstrated about the...

Who holds Iraqi purse strings? The American authorities in Baghdad bypassed $18bn of congressionally approved money and instead spent $2.5bn of Iraqi oil revenues--without UN authority--prior to the early handing over of sovereignty on 28 June. Milan Vesely reports from Washington.(Current Affairs)
August 1, 2004... "THE SECURITY NEEDS were just overwhelming," an occupation official said, justifying the unilateral spending of Iraqi money prior to the 28 June handover. "Would we rather have been able to save the money and have a nice kitty for the Iraqi...

Fahrenheit 9/11.(Current Affairs)(Movie Review)
August 1, 2004... Film reviews in The Middle East magazine are rarely seen outside the pages of the Mosaic section. However, the release of Fahrenheit 9/11 and the subsequent accolades it has received have turned the film into something of political phenomenon,...

Jobs for the boys: as Al Qaeda continues to plot and to threaten, the United States has embarked upon a programme to keep Iraq's best scientific brains out of Bin Laden's clutches.(Current Affairs)
August 1, 2004... AMID WIDENING FEARS that Al Qaeda and its affiliates are striving to acquire weapons of mass destruction (WMD), and concern about another major terrorist attack on the United States before the November presidential election, the Americans are...

Slow, slow, <begin strikethrough> quick, quick <end strikethrough>, slow.(Current Affairs)
August 1, 2004... Much has been promised but little, so far, delivered on proposals outlined in the Baker Plan. But the dance continues with international partners increasingly attempting to influence the tempo. The United Nations will review the situation in...

Power struggle goes on: the US government has increased the number of US troops from 11,000 to 20,000 in the hope of destroying the remnants of the Taliban in the south and hunting down Osama bin Laden. But while the US continues to battle with radical militias and terrorists, security in Afghanistan is coming apart.(Afghanistan)
August 1, 2004... OUR PROBLEMS ARE not as big as they are in Iraq. But if we don't do something soon, Afghanistan will be in the same situation," explained Lutfullah Mashal, special assistant to the Minister of interior in Afghanistan. "We are getting ever...

Entering the labyrinth: Rafah town and the adjoining refugee camp have been a constant battleground throughout the Israeli occupation. Central to this is the intricate network of tunnels, some up to 20 metres deep and 800 metres long, used to smuggle weapons and explosives from Egypt into the Gaza Strip.(Egypt/Occupied Territories)
August 1, 2004... THE TUNNELS OF RAFAH, the network of subterranean passages through which the Palestinians smuggle arms and explosives into the Gaza Strip from Egypt, have been a thorn in Israel's side for decades, but especially since the Al Aqsa Intifada...

Arab food woos us market.(Business & Finance)
August 1, 2004... Moroccan Clementines, Tunizan Olive oil, Lebanese preserves and Bahraini dates are winning growing numbers of American customers. Efforts by government export agencies as well as private food producers are paying off, accessing the...

The Middle East Financial Technology Exhibition & Conference 2004.
August 1, 2004... * This event, targeted at a $1bn market, will take place in Bahrain on 22-24 November. It promises to attract the largest gathering of financial services and IT leaders ever to come together in the region. According to the organisers, early...

NCB launches new corporate identity.(Brief Article)
August 1, 2004... * The National Commercial Bank (NCB), the first Saudi bank established in the kingdom of Saudi Arabia, has launched its new corporate identity that matches its vision and drive to be the preferred provider of financial services to consumers and...

VW to close deal with Abu Dhabi; a $2bn-plus deal that will see Gulf interests take a substantial stake in Europe's largest car manufacturer is close to completion.(Business & Finance)
August 1, 2004... ABU DHABI'S STATE-OWNED Mubadala Development Company looks certain to formally sign a deal to take an undisclosed but significant stake in Europe's largest car-maker, Volkswagen (VW). Under the agreement, VW will sell Mubadala around 10% of its...

Qtel, TDC and Omani partners win second mobile licence in Oman.(Brief Article)
August 1, 2004... * The Nawras Telecom Consortium formed by Qtel, TDC and Omani partners, has won the contract for the second mobile licence in Oman. This is the first licence Qtel has won outside its native Qatar. Nawras Telecom plans to build approximately 160...

Modernist v. Mullahs row holds back progress: if Iran is to press home its new economic advantage, fiascos such as the recent closure of the new Imam Khomeini airport must end.(Iran)
August 1, 2004... THE CLOSURE OF THE NEW TEHRAN airport by the Islamic Revolutionary Guards Corps in May has increased fears over the future viability of foreign investment in Iran. Even though the facility was reopened within days, the move caused real concern...

Global IT firms seek share of regional $10bn airport investment.(Brief Article)
August 1, 2004... * Infrastructure spending at the UAE's flagship airports of Abu Dhabi and Dubai is set to hit nearly $3bn, as preparations for the next generation of air travel gets well underway. In addition, investment at Doha International Airport and...

JBIC provides export credit line to Is Bank in Turkey.
August 1, 2004... * The Japan Bank for International Cooperation (JBIC) has signed an agreement for a yen denominated export credit line totalling [Yen] 8bn ($74m) with Turkiye Is Bankasi A.S. (Is Bank), a private commercial bank in the Republic of Turkey. This...

$7bn GTL project signed in Qatar.(Brief Article)
August 1, 2004... Qatar and ExxonMobil Qatar GTL Limited, have announced they have entered into a Heads of Agreement for an approximately $7bn, Gas-to-Liquid project.

And now for the oil: with diplomatic rapprochement almost complete, Libya's re-entry into the international political economy is progressing to a new stage. Attention is now turning to economic matters in general and the North African country's hydrocarbon riches in particular.(Libya)
August 1, 2004... THE LIBYAN GOVERNMENT IS KEEN to attract foreign investment in a wide range of sectors but realises that only greatly increased nil and gas production can generate the income required to develop other areas of the economy. After years of...

Lebanon signs $4m contract to upgrade technology systems at Beirut Airport.(Brief Article)
August 1, 2004... * The Lebanese Directorate General of Civil Aviation has signed a five-year agreement with SITA INC (Information Network Computing).

Bahrain Telecoms market to be fully open to competition.(Brief Article)
August 1, 2004... * The Bahraini Telecommunications Regulatory Authority (TRA) has announced that the kingdom's telecommunications sector is now fully open to competition from foreign investors with the availability of local and international fixed voice and...

Record net profit for NBAD.(Brief Article)
August 1, 2004... * The National Bank of Abu Dhabi (NBAD) has reported a record net profit for the first half of 2004 of Dh503m ($137m), 28% above the same period last year.

Iraq is to auction $10m of treasury bills in bid to kick-start capital markets.(Brief Article)
August 1, 2004... * Iraq's Finance Ministry intends to auction 150bn dinars ($ 10m) of treasury bills in a bid to establish a bond market and kick-start Iraq's local capital markets.

Bahrain Monetary Agency to launch BD40m ($107m) Ijara sukuk issue.(Brief Article)
August 1, 2004... * The Bahrain Monetary Agency (BMA) is to make its first BD-denominated Ijara sukuk (Islamic leasing bond) issue.

Tool or weapon?(Business & Finance)
August 1, 2004... A United Nations official has written to the giant US Caterpillar Company to express "deep concern" at the destruction Israel's army is wreaking with use of its American-made bulldozers. But can the US firm seriously be held responsible when...

ZIIC reports higher net profits.(Brief Article)
August 1, 2004... * Zamil Industrial Investment Company (ZIIC), the Saudi manufacturing and fabrication group focused on growth segments of the construction industry, has announced net profits after Zakat contributions of SR35m ($9.3m) for the first half of...

$88m pipeline agreement signed.(Brief Article)
August 1, 2004... * An agreement worth OR34m ($88m) covering construction of a crude oil pipeline to run from Mina Al Fahl to the Sohar Refinery has been signed by the Omani Ministry of Oil and Gas.

Access all areas: if knowledge is power the Internet has placed an invaluable tool in our hands. However, like all forms of power its use is open to abuse.(Business & Finance)
August 1, 2004... INFORMATION, CONSIDERED BY SOME to be the oil of the 21st century, has long been in the hands of a select few. Governments and wealthy media moguls who owned television stations and newspapers controlled the flow of information and became...

Morocco to develop $230m destination resort casino.(Brief Article)
August 1, 2004... * Kerzner International Ltd, a leading developer and operator of destination resorts, casinos and luxury hotels has, with local partners, Societe Maroc Emirates Arabs Unis de Developpement and Caisse de Depot et de Gestion, entered into an...

Walking a tightrope: the Hashemite kingdom of Jordan has few natural resources compared with its neighbours, and the spectre of political upheaval continues to hover ominously on its eastern and western borders. It is not easy keeping everybody happy, but creating an economic environment in which all sections of the community might prosper would be a good start.(Jordan)
August 1, 2004... JORDAN HAS GAINED FEW ADVANTAGES from its geographical location in recent years. War and instability lie on its eastern doorstep in Iraq, while the ongoing struggle between Israel and the Palestinians permeates almost every aspect of Jordanian...

German company plans to invest in 1.9bn [euro] Iran Kish island project.(Brief Article)
August 1, 2004... * A German company plans to invest 1.9bn[euro] in a project in the Gulf island of Kish. According to the Iranian Housing and Urban Development Ministry (IRNA), the project is a multi-faceted housing, tourism, commercial, and recreational...

Development projects worth $900m for Lebanon.(Brief Article)
August 1, 2004... * Three major private sector projects worth $900m in total will soon be unveiled by the Investment Development Authority of Lebanon (IDALAs). It is believed that all three will be geared to take advantage of the recent growth in tourist...

SABIC announces $1.424bn profit for first half of 2004.(Brief Article)
August 1, 2004... * Saudi Basic Industries Corporation (SABIC) has reported first half 2004 net profits of SR5.34bn ($ 1.424bn), an increase of 67% compared to the same period in 2003.

Tapping energy-rich Iran: Iran's strategic importance to global energy markets cannot be underestimated. With over 9% of the globe's oil reserves and 15%-17% of worldwide reserves of natural gas, the hydrocarbons resources of the Gulf's most populous state are tremendous.(Special Survey)
August 1, 2004... THE PETROLEUM INDUSTRY constitutes the bedrock of Iran's $100bn-plus economy. It provides on average 80% 85% of total export earnings, one-half of the state budget and one-quarrel of gross domestic product (GI)P). Economic growth this year is...

US-Turkish consortium wins $170m Jordanian power plant project.(Brief Article)
August 1, 2004... * Jordan's state-run Central Electricity Generating Company has awarded the Al Samra power plant project to a consortium comprising the US Black and Veatch Company and the Turkish GAMA Company at a cost of around $170m.

BenQ reports 20% rise in sales of LCD TVs in the Middle East.(Brief Article)
August 1, 2004... * BenQ, the region's leader in digital lifestyle products, has reported a 20% rise in sales of its range of LCD TVs in the Middle East, as consumers invest in acquiring the latest technology for their homes.

GCC: capital outflow estimated at $30bn per year.(Brief Article)
August 1, 2004... * The total capital outflow of the UAE financial sector is put at Dh 16.5bn ($4.5bn), according to the latest report of the UAE Financial and Commercial Authorities.

Standard Chartered arranges $100m syndication for Iran's Khouzestan Steel Company.(Brief Article)
August 1, 2004... * Standard Chartered Bank has announced the signing of a $ 100m Pre-export Finance Facility by Abbas Vardinejad (managing director) and Ali Asghar Mashhadizadeh (financial director) of Khouzestan Steel Co. of Iran. Khouzestan Steel Co. is one...

EC approves 140m [euro] in development schemes for Morocco, Egypt and Jordan.
August 1, 2004... * The European Commission has given its approval for 140.79m[euro] of development spending for Morocco, Egypt and Jordan. Operations will be carried out under the Meda Programme's 2003 National Financing Plans.

Kuwait's Wataniya Telecom posts net profits of $71m.(Brief Article)
August 1, 2004... * Wataniya Telecom, the leading Kuwait GSM mobile operator has announced net profits of KD21.03m (US$71m).

Inside the mummy: archaeology meets technology to reveal an ancient Egyptian workman's blunder, 2,800 years after the event.(Mosaic)
August 1, 2004... EGYPTIAN MUMMIES contain a wealth of information about the past but until now to discover their contents, they had to be unwrapped. The process is irreversible; therefore unwrapping a mummy to discover its secrets meant destroying it for good,...

Flavour of the month ... Middle Eastern films drew enthusiastic audiences at Europe's most celebrated film festival. Alexa Dalby reports from Cannes.(Mosaic)
August 1, 2004... 'AS THE PRESS ARE SO QUIET, it's good that somebody's making a big noise," commented Salman Rushdie, himself no stranger to controversy, as the controversial Cannes Film Festival prize winner Fahrenheit 9/11 finally got its release in America...

The shadow puppetry of Karagoz.(Poem)
August 1, 2004... The shadow puppetry of Karagoz To the eye of the uninitiated, this curtain produces only shadows. But to him who knows the signs --Symbols of the Truth-- It is a show of subtlety, intended for the...

The Iraq War.(Book Review)
August 1, 2004... Hidden Agendas and Babylonian Intrigue: The Regional Impact on Shi'ites, Kurds, Suonis and Arabs By Raphael Israeli published by Sussex Academic Press ISBN 1 903900 89 1 price 45.00[pounds sterling] hardback ISBN 1 903900 90 5 price...

Civil Society in the Muslim World.(Book Review)
August 1, 2004... Contemporary Perspectives Edited by Arnyn B. Sajoo published by IB TAURIS ISBN 185043 590 1 price 14.95[pounds sterling] paperback The evolving phases of what in our time is called globalization are felt and conceived rather differently...

Masoud: Memoirs of an Iranian Rebel.(Book Review)
August 1, 2004... By Masoud Banisadr published by Saqi Books ISBN 0 86356 374 0 price 17.99[pounds sterling] paperback Growing up in the aftermath of the 1953 CIA coup in Iran exposed the young Masoud Banisadr to extremes of wealth and poverty, loyalty and...

A Voyage to Arabia Felix (1708-1710).(Book Review)
August 1, 2004... By Jean de La Roque published by The Oleander Press ISBN 0 906072 50 3 price 30.00[pounds sterling] hardback 1715 saw the first publication of Voyage de l'Ambie Heureuse. Such was the interest in this book that English translations appeared...

Sharing the Land of Canaan.(Book Review)
August 1, 2004... Human Rights and the-Palestinian Struggle By Mazin B. Qumsiyeh published by Pluto Press ISBN 0 7453 2248 4 price 14.99[pounds sterling] paperback Sharing the Land of Canaan is a critical examination of the core issues of the Middle East...

Lessons of Lebanon: the Economics of War and Development.(Book Review)
August 1, 2004... By Samir Makdisi published by IB TAURIS ISBN 1 85043 398 4 price 45.00[pounds sterling] hardback Since 1945, over 200 intra-state conflicts have taken place in countries that achieved independence from colonial rule after World War II. The...

Olympic hope.(The Last Word)
August 1, 2004... DEIR EL BALAH, GAZA STRIP -- FOR three hours a day, every day, a lone, tall, thin figure runs in the blazing heat across a dusty, rocky field here just opposite the road from the Mediterranean Sea, churning through construction sites and along...