o NEWS
· REGION
- PREPARING FOR THE TWENTY FIRST SUMMIT
- GCC ENVOYS GATHER IN MANAMA
- FOREIGN POLICY CHALLENGES TO COMMAND BUSH'S ATTENTION
-POWELL
SEES END TO IRAQ REGIME
-IRAQ
DISMISSES POWELL'S THREATS
- AIRLINES PREPARES TO RESUME FLIGHTS TO IRAQ
· BAHRAIN
- BAHRAIN PROMISED DEMOCRATIC PARLIAMENT
- BAHRAIN HEADS TOWARD MONARCHY
- BAHRAIN SIGNS TREATY FOR COURT
· OMAN
- HIGH MARKS FOR CARE OF CHILDREN
· SAUDI ARABIA
- THIRD BOMB
- SAUDI-YEMENI COOPERATION MEETING ENDS
- YEMEN SEES NO ERA OF TIES WITH SAUDI
· UAE
- AL AQSA INTIFADA BOYCOTT
- IRAN WANTS SOLUTION TO DISPUTED ISLANDS
- ILLEGAL IMMIGRANTS FACE IMMEDIATE DEPORTATION
o BUSINESS & FINANCE NEWS
· REGIONAL
- ENERGY FUTURES - AT WEEK'S END - 12.15.00
- OPEC CHIEF SAYS OUTPUT CUT COULD REACH 1M BPD
- KUWAIT PLAYS DOWN SAUDI OIL PRODUCTION DISPUTE
- MIDEAST 2000 ECONOMIES GREW 5.1% ON HIGH OIL
- MIDEAST URGED TO COOPERATE OVER COMMUNICATIONS
- GEM (MICROSOFT) OFFERS 'TECHNOLOGY GUARANTEE' PROGRAM
- MIDDLE EAST HR MANAGERS FALL BEHIND ON TECHNOLOGY
· KUWAIT
- KUWAIT OIL EARNINGS TOP $8B IN FIVE MONTHS
- KUWAIT SEES NO ALTERNATIVE TO ECONOMIC REFORMS
- KUWAIT WILL OPEN TO FOREIGN BANKS
- KUWAIT: OPEC MAY CUT MILLION BPD AT JAN MEET
· SAUDI ARABIA
- SAGIA ISSUES LICENSES FOR INDUSTRIAL PROJECTS
- INDUSTRY MINISTER TO BE KEYNOTE SPEAKER AT TEXAS
SEMINAR
- FRESH MOVES ON GAS INITIATIVE
- HARADH (GAS PROJECT) CONTRACTS SIGNED
- SAUDI OFFERS FINANCING TO BOOST NON-OIL EXPORTS
- SEC RESTRUCTURES $500 MILLION DEBT FACILITY
- STC AWARDS INTERNET AND DDN CONTRACTS
- SAUDIS WARN AGAINST UNEMPLOYMENT BACKLASH
· UAE
- TELEPHONE NETWORK OVERHAUL
- TEXTILE CITY 'MARKS SHIFT TO PRIVATIZATION'
o PERSPECTIVES
- FROM OLD ECONOMY TO NEW ECONOMY IN
THE MIDDLE EAST
- GLOBAL TRENDS 2015
o LAST LINES
*************************
NEWS
*************************
· REGION
PREPARING FOR THE TWENTY FIRST SUMMIT: GCC FOREIGN MINISTERS DISCUSS THE
DEVELOPMENTS IN THE REGION, IRAQ AND THE THREE ISLANDS; THE FOREIGN
MINISTER
OF BAHRAIN THANKED SAUDI ARABIA FOR ITS ROLE IN SUPPORTING ARABS AND
MUSLIMS
ISSUES
GCC ENVOYS GATHER IN MANAMA
Expired Link
FOREIGN POLICY CHALLENGES TO COMMAND BUSH'S ATTENTION
POWELL
SEES END TO IRAQ REGIME
Expired Link
IRAQ
DISMISSES POWELL'S THREATS
AIRLINES PREPARES TO RESUME FLIGHTS TO IRAQ
· BAHRAIN
BAHRAIN
PROMISED DEMOCRATIC PARLIAMENT
BAHRAIN HEADS TOWARD MONARCHY
BAHRAIN SIGNS TREATY FOR COURT
Expired Link
· OMAN
HIGH MARKS FOR CARE OF CHILDREN
[GulfWire] The United Nations Children's Fund (UNICEF) annual report on
the
state of the world's children, released December 12, gave Oman high marks
for the care of its children. Among countries of the Middle East and North
Africa region it ranked favorably for under-five mortality, vaccination
rates and primary school enrollments. According to the Oman Observer the
UNICEF report stated, "The children of Oman today are lucky compared
to many children in the world. The economic and political stability in Oman has
allowed the government to devote its resources for the welfare of its
people." Source: Oman Observer
Related Sites
United Nations Children's Fund (UNICEF)
The State of the World's Children 2001
· SAUDI ARABIA
THIRD BOMB
[GulfWire] A bomb, appearing to be a juice carton, left on David Brown's
car
windshield exploded when he tried to remove it, severely wounding the
British citizen on December 15 in the Eastern Province city of Khobar. No
one has claimed responsibility for the attack, the third against British
citizens in Saudi Arabia in less than a month. Some local press reports
suggested the bombings could be connected to criminal and not terrorist
activities, possibly related to illegal liquor production and
distribution.
Source: AP, BBC, Reuters
Related Items:
SAUDI ARABIA SAYS IT STILL HAS NO PROOF LINKING U.S. MAN TO BOMB
SECOND
CAR BOMB IN LESS THAN A WEEK INJURES THREE
EXPLOSION
IN RIYADH KILLS BRITON, INJURES WIFE
SAUDI
BLAST BAFFLES INVESTIGATORS
BRITON
KILLED IN SAUDI BLAST
SAUDI-YEMENI
COOPERATION MEETING ENDS
YEMEN SEES NO ERA OF TIES WITH SAUDI
· UAE
AL AQSA INTIFADA BOYCOTT
[GulfWire] An informal boycott has cut demand for U.S. products about 50
percent according to a local newspaper report on December 14. Al-Ittihad,
cited by AFP, said European suppliers were filling the need for U.S.
products such as clothing, perfumes and detergents. U.S. franchise
restaurants have seen a drop off of about 35 percent of business since the
boycott was called in reaction to claims the U.S. is biased toward Israel.
AFP said a list of hundreds of U.S. products to be boycotted has been
distributed to thousands of schools and shopping centers in the UAE, Saudi
Arabia and Qatar. Source: AFP
IRAN
WANTS SOLUTION TO DISPUTED ISLANDS
Expired Link
ILLEGAL IMMIGRANTS FACE IMMEDIATE DEPORTATION
*************************
BUSINESS AND FINANCE NEWS
*************************
· REGIONAL
[GulfWire] ENERGY FUTURES - AT WEEK'S END - 12.15.00
Light Crude (NYM) $28.55 bbl UP from $28.30 bbl on 12.08.00
Brent Crude (IPE) $26.14 bbl DOWN from $26.65 bbl on 12.08.00
Heating Oil (NYM) $0.938 gal DOWN from $0.944 gal on 12.08.00
Natural Gas (NYM) $9.20 mmbtu UP from $8.58 mmbtu on 12.08.00
Unleaded Gas (NYM) $.770 gal DOWN from $.738 gal on 12.08.00
Unleaded Gas (ANSAGS) $1.759 gal DOWN from $1.759 gal on 12.08.00
Source: CNNfn.com
****************************************************************************
ENERGY COMMODITY INFORMATION (Oil Futures, Heating Oil, Unleaded and
Natural
Gas price charts and tables) - Data from July 1999 through this week
****************************************************************************
ENERGY INFO RESOURCE - - > DOE/EIA COUNTRY
ANALYSIS BRIEFS
****************************************************************************
OPEC CHIEF SAYS OUTPUT CUT COULD REACH 1M BPD
KUWAIT PLAYS DOWN SAUDI OIL PRODUCTION DISPUTE
Expired Link
MIDEAST 2000 ECONOMIES GREW 5.1% ON HIGH OIL
MIDEAST URGED TO COOPERATE OVER COMMUNICATIONS
GEM (MICROSOFT) OFFERS 'TECHNOLOGY GUARANTEE' PROGRAM
Related Site:
Microsoft Middle East
MIDDLE EAST HR MANAGERS FALL BEHIND ON TECHNOLOGY
· KUWAIT
KUWAIT OIL EARNINGS TOP $8B IN FIVE MONTHS
KUWAIT SEES NO ALTERNATIVE TO ECONOMIC REFORMS
Expired Link
KUWAIT WILL OPEN TO FOREIGN BANKS
Expired Link
KUWAIT: OPEC MAY CUT MILLION BPD AT JAN MEET
· SAUDI ARABIA
SAGIA ISSUES LICENSES FOR INDUSTRIAL PROJECTS
[SaudiEmbassy.net] The Saudi Arabian General Investment Authority (SAGIA)
has recently issued 14 licenses for new industrial projects with a total
investment of SR 90 million [U.S. $ 24 million]. The projects include
plants
for the manufacture of automobile air-conditioning units, factories for
computer software, and the drilling of water wells. Since its
establishment,
SAGIA has issued 23 licenses for expansion of existing projects, with a
total capital of SR 581.59 million [U.S. $ 155.09 million], in addition to
58 new investment licenses with a total capital of SR 4.1 billion [U.S. $1.09 billion].
Source: Saudi Embassy Press Release - December 13, 2000
INDUSTRY MINISTER TO BE KEYNOTE SPEAKER AT TEXAS SEMINAR
[SaudiEmbassy.Net] Minister of Industry and Electricity Dr. Hashem Yamani
will be the keynote speaker at a seminar on 'Investing in Saudi Arabia'
scheduled for February 6 and 7, 2001, in Texas. The seminar, sponsored by
Lucent Technologies, is being organized by International Business
Conferences and the Council of Saudi Chambers of Commerce, supported by
the
U.S.-Saudi Business Council and the U.S.-Arab Chamber of Commerce. Other
speakers include Ambassador to the United States Prince Bandar bin Sultan
bin Abdulaziz, and Advisor at the Ministry of Petroleum and Mineral
Resources Prince Faisal bin Turki bin Abdulaziz. Participating via video
link will be Governor of the Saudi Arabian General Investment Authority
(SAGIA) Prince Abdullah Bin Faisal Bin Turki. The aim of the seminar is to
explore investment potential in the Kingdom's strategic sectors, such as
electricity, oil and gas, and petrochemicals.
Source: Saudi Embassy Press
Release
FRESH MOVES ON GAS INITIATIVE
Expired Link
HARADH (GAS PROJECT) CONTRACTS SIGNED
Expired Link
SAUDI OFFERS FINANCING TO BOOST NON-OIL EXPORTS
SEC RESTRUCTURES $500 MILLION DEBT FACILITY
Expired Link
STC AWARDS INTERNET AND DDN CONTRACTS
Expired Link
SAUDIS WARN AGAINST UNEMPLOYMENT BACKLASH
· UAE
TELEPHONE NETWORK OVERHAUL
[GulfWire] The Emirates Telecommunications Corp (Etisalat) will replace
the
country's telephone network at a cost of $1.09 billion according to a
company official cited by Reuters on December 12. The replacement, which
will be accomplished over the next three years, will allow Etisalat to
meet
the telecommunications requirements of new technologies according to
company
General Director Ali Salem Al-Owais. Source: Reuters
TEXTILE CITY 'MARKS SHIFT TO PRIVATIZATION'
************
PERSPECTIVES
************
**************************************************
FROM OLD ECONOMY TO NEW ECONOMY IN THE MIDDLE EAST
**************************************************
"From Old Economy to New Economy in the Middle East"
Remarks by Jan H. Kalicki
Counselor to the Department of Commerce
MEED 2000 Middle East Summit, November 15, 2000
New York, N.Y.
I would like to discuss today a growing trend toward the emergence of a
new
economy in the Middle East. In recent years, more and more countries are
embracing the opportunity to transform their old economies – which were
characterized by burdensome state ownership, government intervention and,
in
many cases, dependence on the energy sector – into new, more dynamic
economies with greater diversification and a larger role for the private
sector.
In describing this opportunity for growth in the new economy, I will
discuss
the particularly important role for the information technology sectors,
broad-based privatization initiatives and the growing role of the service
sectors. Last, I will discuss U. S. government initiatives to assist our
Middle East partners in this economic transition, and assess some of the
significant changes that still need to be made.
THIS ITEM IS PROVIDED IN ITS ENTIRETY IN A GULFWIRE SPECIAL SUPPLEMENT. IT
IS ALSO POSTED TO THE GULFWIRE ARCHIVES:
CLICK HERE
**************************************************************************
GLOBAL TRENDS 2015: A DIALOGUE ABOUT THE FUTURE WITH
NONGOVERNMENT EXPERTS
**************************************************************************
"Over the past 15 months, the National Intelligence Council (NIC), in
close
collaboration with US Government specialists and a wide range of experts
outside the government, has worked to identify major drivers and trends
that
will shape the world of 2015."
[The following section is excerpted as an item of interest for GulfWire
readers. The "Global Trends 2015" report can be viewed in its
entirety at: CLICK
HERE.]
THE MIDDLE EAST AND NORTH AFRICA
Regimes in the region—from Morocco to Iran—will have to cope with
demographic, economic and societal pressures from within and globalization
from without. No single ideology or philosophy will unite any one state or
group of states in response to these challenges, although popular
resentment
of globalization as a Western intrusion will be widespread. Political
Islam
in various forms will be an attractive alternative for millions of Muslims
throughout the region, and some radical variants will continue to be
divisive social and political forces.
By 2015, Israel will have attained a cold peace with its neighbors, with
only limited social, economic, and cultural ties. There will be a
Palestinian state, but Israeli-Palestinian tensions will persist and
occasionally erupt into crises. Old rivalries among core states—Egypt,
Syria, Iraq, and Iran—will reemerge. International attention will shift
anew
to the Persian Gulf, an increasingly important source of energy resources
to
fuel the global economy, and oil revenues anticipated for Iraq, Iran, and
Saudi Arabia in particular will provide strategic—and potentially
destabilizing—options for those states. New relationships between
geographic
regions could emerge between North Africa and Europe (on trade); India,
China and the Persian Gulf (on energy); and Israel, Turkey, and India (on
economic, technical, and in the case of Turkey, security considerations).
A key driver for the Middle East over the next 15 years will be
demographic
pressures, specifically how to provide jobs, housing, public services, and
subsidies for rapidly growing and increasingly urban populations. By 2015,
in much of the Middle East populations will be significantly larger,
poorer,
more urban, and more disillusioned. In nearly all Middle Eastern
countries,
more than half the population is now under 20 years of age. These
populations will continue to have very large youth cohorts through 2015,
with the labor force growing at an average rate of 3.1 percent per year.
The
problem of job placement is compounded by weak educational systems
producing
a generation lacking the technical and problem-solving skills required for
economic growth.
Globalization. With the exception of Israel, Middle Eastern states will
view
globalization more as a challenge than an opportunity. Although the
Internet
will remain confined to a small elite due to relatively high cost,
undeveloped infrastructures, and cultural obstacles, the information
revolution and other technological advances probably will have a net
destabilizing effect on the Middle East by raising expectations,
increasing
income disparities, and eroding the power of regimes to control
information
or mold popular opinion. Attracting foreign direct investment will also be
difficult: except for the energy sector, investors will tend to shy away
from these countries, discouraged by overbearing state sectors; heavy,
opaque, and arbitrary government regulation; underdeveloped financial
sectors; inadequate physical infrastructure; and the threat of political
instability.
Political Change. Most Middle Eastern governments recognize the need for
economic restructuring and even a modicum of greater political
participation, but they will proceed cautiously, fearful of undermining
their rule. As some governments or sectors embrace the new economy and
civil
society while others cling to more traditional paradigms, inequities
between
and within states will grow. Islamists could come to power in states that
are beginning to become pluralist and in which entrenched secular elites
have lost their appeal.
MIDDLE EAST AND NORTH AFRICA SECTION
============================================================================
CURRENCY CONVERSIONS [IN BRACKETS] MADE USING MONEY.CNN.COM
============================================================================
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