Friday 7 October 2022 \



Saudi Arabia, Indonesia vow to push industrial investments

By Abdul Ghafour / 6 Feb 2013

A joint Saudi-Indonesian oil refinery and petrochemical project in Tuban, East Java involves a capital investment of $ 30 billion, Indonesian Ambassador Gatot Abdullah Mansyur said yesterday.

He estimated the total Saudi investment in his country at $ 8.65 billion. There is a new joint mineral project and a health water project in South Sulawesi at a cost of $ 10 billion and $ 200 million respectively, he added.


60% of Saudis own homes, economy chief says

Source : Arab News / 1 Feb 2013

Minister of Economy and Planning Mohammad Al-Jasser has criticized those who have raised doubts about the validity of the latest statistics from the General Statistics and Information Department that show that 60 percent of Saudis own houses, according to Al-Eqtisadiah newspaper.

 He asked that the data be analyzed, not debated. “These numbers are very accurate and based on a survey implemented by an army of field workers,” he said.


Egypt seeks to regain investor confidence, bring capitals back home

By Carina Kamel / 26 Jan 2013

Facing the threat of economic crisis back home, a delegation of Egyptian officials and businessmen visited London this month to meet with foreign investors and try to restore confidence in the economy.

Foreign investment to Egypt dropped significantly after the revolution, and now, two years after the 2011 uprising, many investors have yet to return.


Yemen needs $716 mln in aid this year: U.N.

By AFP / 23 Jan 2013

Yemen needs $716 million in aid this year, or 22 percent more than 2012’s requirements, UN agencies said on Tuesday, after improved security enabled a reassessment of the humanitarian situation.

“We are hoping that we will be able to raise the whole amount so that we can comprehensively meet the needs and save lives,” said the head of the UN Office for the Coordination of Humanitarian Affairs in Yemen, Trond Jensen.


Iran discovers 14 billion barrels of crude oil reserves

Source: Presstv / 22 Jan 2013

Iran has discovered 14 billion barrels of crude oil reserves during the first three quarters of the current Persian calendar year (started March 20, 2012), an Iranian deputy oil minister says.

In a Monday interview, Mohsen Khojasteh-Mehr noted that during the previous Iranian year (ended March 19, 2012), the country discovered 20 billion barrels of crude oil.


Iran’s exports USD330 million in hand-woven carpets

Source : Presstv / 21 Jan 2013

A senior Iranian business official says the Islamic Republic has exported USD330 million worth of hand-woven Persian carpets in the first nine months of the current Iranian calendar year (started March 20, 2012).

Iran National Carpet Center's Deputy Director for Marketing Mojtaba Feizollahi said South Africa, Russia, Brazil, China and Indonesia are new markets of Iranian rugs.


IEA raises oil demand forecast to 930,000 bpd

Source : AFP / 19 Jan 2013

Price pressures on the global oil market have suddenly tightened, and the deadly hostage drama at a gas field in Algeria puts a "dark cloud" over the country's entire energy sector, the International Energy Agency warned yesterday.

The IEA said that a dominant factor in the global energy market now "has a lot to do with political risk writ large, and not just in Syria, Iran, Iraq, Libya or Venezuela", and included regulatory risks.


Ahmadinejad: Iran must reduce oil dependence


Source: Al Jazeera and agencies / 17 Jan 2013

President Mahmoud Ahmadinejad said Iran must move away from dependence on oil revenue to overcome Western sanctions that have slowed the economy and disrupted foreign trade.

"We have to change the flow of wealth and capital into the country. Problems will remain as long as this doesn't change... 25 percent of the gross national product is concentrated in Tehran. We need to make sure that the money is invested not just in one city but all over the country," Ahmedinejad said.


Most Israelis disagree with Netanyahu on Iran: Poll

Source : Presstv / 14 Jan 2013

Despite the rhetoric by Israeli Premier Benjamin Netanyahu to sensationalize the Western dispute over Iran’s nuclear energy program, a recent survey shows that the majority of Israelis believe the issue of economy, not Iran, is the most critical issue they face.

According to a poll conducted by the Times of Israel, 43 percent of the respondents consider economic issues as the most important issue in the upcoming parliamentary elections in Israel.


Sanctions aim to paralyze Iran economy: Minister


Source : Presstv / 11 Jan 2013

Iran's Minister of Industry, Mine and Trade Mehdi Ghazanfari says sanctions against the Islamic Republic aim to paralyze the country’s economy.

“The aim of [anti-Iran] sanctions is to paralyze our economy and to put people under pressure and in distress,” Ghazanfari said on Thursday.


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