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<title>The Memri Economic Blog</title>
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<![CDATA[Highlights /News of The Day]]>
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<link><![CDATA[http://memrieconomicblog.org/]]></link>
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<item>
<title><![CDATA[Heavy Crude Can't Keep Up]]></title>
<link><![CDATA[/bin/content.cgi?article=185]]></link>
<description>
<![CDATA[ As medium sweet crude oil blends have strengthened in recent months, medium and heavier sour blends have fallen behind. In particular, Middle East heavy crudes have been unable to keep up with the growing appetite for low sulphur middle distillate products, with differentials between Saudi Super Light and Saudi Heavy crude blends widening to record levels. In the Americas, the situation is no different. Despite the large production declines at Cantarell, Mexican Maya is trading at a record... - Last Updated:]]> 
<![CDATA[Thu, 08 May 2008 10:45:46]]>
</description>
<author>By: Moussa Ahmad</author>
<pubDate><![CDATA[2008-05-08]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=185]]></guid>
</item>

<item>
<title><![CDATA[Oil Likely to Reach Up to $200, Says Goldman Sachs Report]]></title>
<link><![CDATA[/bin/content.cgi?article=184]]></link>
<description>
<![CDATA[ A new report by Goldman Sachs analysts indicates that crude oil may rise to between US$150 and US$200 a barrel within two years, as growth in supply fails to keep pace with increased demand from developing nations..  Arjun Murti, the leading analyst of the group, first wrote of a "super spike" in March 2005, when he said oil prices could range between $50 and $105 a barrel to the end of 2009. The price of crude traded in New York averaged $56.71 in 2005, $66.23 in 2006 and $72.36 in... - Last Updated:]]> 
<![CDATA[Wed, 07 May 2008 07:56:26]]>
</description>
<author>By: Moussa Ahmad</author>
<pubDate><![CDATA[2008-05-07]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=184]]></guid>
</item>

<item>
<title><![CDATA[The Growth Secrets of Non-Interest Banking Activities]]></title>
<link><![CDATA[/bin/content.cgi?article=183]]></link>
<description>
<![CDATA[   Ahmed al-Sarraf  ".. For the first time in Kuwait's history, the number of 'Islamic' investment companies has reached the same number as that of the traditional firms that had controlled the market for decades. And suddenly, Islamic firms have begun to attract the attention and the capital away from the traditional companies to the extent that by the end of 2007, their assets in banks and companies exceeded 16 billion [Kuwaiti] dinars [about $60.4 billion], compared... - Last Updated:]]> 
<![CDATA[Tue, 06 May 2008 06:15:35]]>
</description>
<author>By: Ahmed al-Sarraf</author>
<pubDate><![CDATA[2008-05-06]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=183]]></guid>
</item>

<item>
<title><![CDATA[Free Trade Agreements Mark a Major Shift in Trade Policy]]></title>
<link><![CDATA[/bin/content.cgi?article=182]]></link>
<description>
<![CDATA[ Free trade agreements signed by GCC states [Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait and Oman] with countries and economic blocks help reduce inflation and price hikes since they lead to [the] waiving of customs duties and allow [for the] smooth flow of goods and services.  For example, the GCC countries signed a free trade agreement with [the] European Free Trade Association [AFTA], which includes countries with global economic and commercial status such as Switzerland,... - Last Updated:]]> 
<![CDATA[Mon, 05 May 2008 14:09:34]]>
</description>
<author>By: Dr. Mohammad al-Asoomi, Special to Gulf News</author>
<pubDate><![CDATA[2008-05-05]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=182]]></guid>
</item>

<item>
<title><![CDATA[Environmental Protection Agencies: Did They Limit Degradation and Depletion of Resources? The Case of Saudi Arabia]]></title>
<link><![CDATA[/bin/content.cgi?article=181]]></link>
<description>
<![CDATA[   Saudi Arabia - like the rest of the Gulf, Arab and international communities - is today facing big challenges in planning for growth to meet the basic human needs of its people. Despite the enormous natural resources and the rapid economic growth witnessed in all fields over the past years, many sectors, as they went through an accelerated growth, did not take into account the environmental caveats-- whether the sectors involved were urban, industrial or agricultural. But the progress made... - Last Updated:]]> 
<![CDATA[Fri, 02 May 2008 07:24:30]]>
</description>
<author>By: Khalid al-Assour</author>
<pubDate><![CDATA[2008-05-02]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=181]]></guid>
</item>

<item>
<title><![CDATA[Iran Holds Key to India's Energy Insecurity]]></title>
<link><![CDATA[/bin/content.cgi?article=180]]></link>
<description>
<![CDATA[   The Iranian president in India.    In the rapidly intensifying international energy game, Iran holds a master key to the most staggering roadblock to India's economic growth - energy insecurity.  With the issue of energy cooperation dominating talks on Tuesday [April 29] between visiting Iranian President Mahmoud Ahmadinejad and his hosts in New Delhi, a new chapter in Iran-India relations is on the horizon that will likely bring the two countries closer together on a long-term basis.  While... - Last Updated:]]> 
<![CDATA[Thu, 01 May 2008 07:32:41]]>
</description>
<author>By: Khalid al-Assour</author>
<pubDate><![CDATA[2008-05-01]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=180]]></guid>
</item>

<item>
<title><![CDATA[A View of Iraq's Economic Position]]></title>
<link><![CDATA[/bin/content.cgi?article=179]]></link>
<description>
<![CDATA[ When the expression (economically advanced countries) is mentioned, it means the existence of material and human wealth. There is no doubt that such wealth is available in Iraq, since the country holds the world's second largest proven oil reserves, a commodity that perpetuates the dynamism of industrial and agricultural progress in the world, and the comprehensive public services for all sectors of society, particularly education and health.     Iraq's richness in human wealth is... - Last Updated:]]> 
<![CDATA[Wed, 30 Apr 2008 06:11:39]]>
</description>
<author>By: Hadi Tou'ema</author>
<pubDate><![CDATA[2008-04-30]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=179]]></guid>
</item>

<item>
<title><![CDATA[Survey: Soaring Inflation and High Real Estate Prices Leave Negative Impacts on Saudi Firms]]></title>
<link><![CDATA[/bin/content.cgi?article=177]]></link>
<description>
<![CDATA[     Soaring inflation and high real estate prices are having a negative impact on firms in Saudi Arabia, where inflation reached almost 10% in March, hitting a 30-year peak, a SABB [Saudi Arabia British Bank] survey showed.  The survey found that 6% of chief executives are concerned about inflation while 56% said rising real estate costs will hurt their operations.  Inflation will have a negative impact on companies' morale over the next two quarters, SABB said. The bank expects... - Last Updated:]]> 
<![CDATA[Tue, 29 Apr 2008 09:31:57]]>
</description>
<author>By: Hadi Tou'ema</author>
<pubDate><![CDATA[2008-04-29]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=177]]></guid>
</item>

<item>
<title><![CDATA[Turkey Expects Current Account Deficit to Hit $50 Billion in 2008]]></title>
<link><![CDATA[/bin/content.cgi?article=176]]></link>
<description>
<![CDATA[     Turkey's current account (c/a) deficit, already seen as the country's economic weak spot, is expected to be around $50 billion this year, the Turkish Economy Minister Mehmet Simsek said.  Turkey finances its current account deficit with foreign direct investment and portfolio inflows.  The rising price of oil -- which traded at around $118 a barrel on Tuesday -- is a challenge for Turkey, an energy-importer. Simsek said every $1 increase in the price of oil hits Turkey's external balances... - Last Updated:]]> 
<![CDATA[Tue, 29 Apr 2008 09:23:47]]>
</description>
<author>By: Hadi Tou'ema</author>
<pubDate><![CDATA[2008-04-29]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=176]]></guid>
</item>

<item>
<title><![CDATA[Islamic Funds Buck Global Market Crisis]]></title>
<link><![CDATA[/bin/content.cgi?article=175]]></link>
<description>
<![CDATA[ The spectacular boom in Islamic finance during 2007 contrasted strongly with the global financial crisis induced by the subprime crisis, and… strong fundamentals are driving the strong performance of Islamic funds, according to Lipper, an international fund tracking company.  Shari'a -compliant funds worldwide registered robust performance during 2007, posting a 26.53% return. Lipper registered 366 funds domiciled in 16 countries at the end of the year.  Malaysia and Saudi Arabia were by... - Last Updated:]]> 
<![CDATA[Tue, 29 Apr 2008 08:19:59]]>
</description>
<author>By: Babu Das Augustine</author>
<pubDate><![CDATA[2008-04-29]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=175]]></guid>
</item>

<item>
<title><![CDATA[US Cannot Ignore Mideast Sovereign Wealth Funds]]></title>
<link><![CDATA[/bin/content.cgi?article=174]]></link>
<description>
<![CDATA[   Maria Bartiromo  The large Middle East funds are run on commercial lines, and therefore any future US fund regulation should not treat them in the same way as Russian or Chinese funds, said Maria Bartiromo, the anchor of CNBC's global business news show Closing Bell.  "The Middle East funds want to allocate their dollars into the US, and there is already a meeting of the minds. Both sides want things to work, which is positive. The US financial service institutions are in constant... - Last Updated:]]> 
<![CDATA[Mon, 28 Apr 2008 08:42:07]]>
</description>
<author>By: Francis Matthew, Editor at Large</author>
<pubDate><![CDATA[2008-04-28]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=174]]></guid>
</item>

<item>
<title><![CDATA[An Integrated Food Plan for the Arab World-- Economic Analysis]]></title>
<link><![CDATA[/bin/content.cgi?article=173]]></link>
<description>
<![CDATA[ The current food crisis has strongly dominated world interest, and has gotten to a point where it threatens governments and destabilizes rulers' regimes. It is a crisis affecting affluennce and poverty, wealth and deprivation. If the climatic causes had their role in straining the "food security" atmosphere, then the global financial surge, the continuing high pace economic growth and the increase in individuals' wealth resources caused the formation of a large... - Last Updated:]]> 
<![CDATA[Fri, 25 Apr 2008 07:22:34]]>
</description>
<author>By: Michel Morcos</author>
<pubDate><![CDATA[2008-04-25]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=173]]></guid>
</item>

<item>
<title><![CDATA[Major Survey Shows How Arab World Fares in its Pursuit of Happiness]]></title>
<link><![CDATA[/bin/content.cgi?article=172]]></link>
<description>
<![CDATA[ Maktoob Research's first 'Happiness Survey' has revealed that people residing in Oman and Saudi Arabia are the happiest in the Middle East.  The survey was conducted from March 11 to 17 among 7,434 residents of diverse nationalities across eleven countries in the GCC, Levant and North Africa region.  Oman has the highest percentage of happy people, with 61% (quite happy or very happy), followed by Saudi Arabia (57%), Qatar (56%), Bahrain (54%), Kuwait (53%), UAE (52%), Jordan... - Last Updated:]]> 
<![CDATA[Thu, 24 Apr 2008 08:47:52]]>
</description>
<author>By: Moussa Ahmad</author>
<pubDate><![CDATA[2008-04-24]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=172]]></guid>
</item>

<item>
<title><![CDATA[Corporate Conduct of Private Investment Firms]]></title>
<link><![CDATA[/bin/content.cgi?article=171]]></link>
<description>
<![CDATA[ In an era of strong corporate governance ["governance"], the benefits for the economy as a whole are clear. The universalization of governance stimulates growth and flow of domestic and foreign investments. It might also reduce the possibility of domestic financial shocks occurring, or at least might mitigate their effects due to investor confidence in the value of assets that the economy is based upon. As for companies, the existence of strong corporate governance enhances... - Last Updated:]]> 
<![CDATA[Wed, 23 Apr 2008 10:34:09]]>
</description>
<author>By: Ramsey Tayseer Abd al-Jaber</author>
<pubDate><![CDATA[2008-04-23]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=171]]></guid>
</item>

<item>
<title><![CDATA[The Gulf Economy After Two Decades - A Vision]]></title>
<link><![CDATA[/bin/content.cgi?article=170]]></link>
<description>
<![CDATA[ When we attempt to trace the contours of the economic future of the six-member Gulf Cooperation Council we… have to speak in generalized terms overlooking individual differences of each member country. A broad view would in no way distort the final image.  The picture of the Gulf economy 20 years ahead [is] hazy particularly in the backdrop of the prevailing explosive political and social situation in the region.  Economists have a predisposition to [making] pessimistic predictions about the... - Last Updated:]]> 
<![CDATA[Tue, 22 Apr 2008 08:26:19]]>
</description>
<author>By: Dr. Wadea Ahmad Kabli</author>
<pubDate><![CDATA[2008-04-22]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=170]]></guid>
</item>

<item>
<title><![CDATA[Egyptian Economists Criticize Government Social Policies]]></title>
<link><![CDATA[/bin/content.cgi?article=169]]></link>
<description>
<![CDATA[ Egypt's high cost of living and the prices of commodities rising to unprecedented levels have hurt low-income people and prompted different segments in the Egyptian market, including the government, private sector, financial institutions and civil society, to determine the responsibility of each of them towards the crisis and its impact on the misfortunate poor and low-income people, who are the most prevalent elements in the country.    In an attempt to search for solutions to absorb... - Last Updated:]]> 
<![CDATA[Fri, 18 Apr 2008 07:26:40]]>
</description>
<author>By: Dr. Wadea Ahmad Kabli</author>
<pubDate><![CDATA[2008-04-18]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=169]]></guid>
</item>

<item>
<title><![CDATA[Three Arab Oil Phenomena in 2008]]></title>
<link><![CDATA[/bin/content.cgi?article=168]]></link>
<description>
<![CDATA[ The year 2008 will be characterized by three Arab oil phenomena with significant future implications that can be summarized by the noticeable expansion in crude oil and natural gas production capacity, the substantial increase in refinery capacity, and the ongoing formation of private Arab oil companies.  Expansion in Production Capacity  As for the first phenomenon, negotiations are currently underway with major international oil companies to explore new oil and gas reserves and boost... - Last Updated:]]> 
<![CDATA[Thu, 17 Apr 2008 07:31:44]]>
</description>
<author>By: Walid Khadouri*</author>
<pubDate><![CDATA[2008-04-17]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=168]]></guid>
</item>

<item>
<title><![CDATA["President Does Not Understand Numbers": Interview with Ahmad Shirzad, Iranian MP]]></title>
<link><![CDATA[/bin/content.cgi?article=167]]></link>
<description>
<![CDATA[ Interview conducted by: Omid Memarian (o.memarian@roozonline.com)    Ahmad Shirzad is a member of Majlis [Iranian Parliament] and an expert on Iran's nuclear development. He spoke ā€ˇto Rooz [a reformist Iranian daily] about the installation of 6,000 new centrifuges and the associated technical and ā€ˇpolitical complications. Below is the text of the interview. ā€ˇ  Rooz (R): How do you evaluate the Iranian government's decision to install new ā€ˇcentrifuges?... - Last Updated:]]> 
<![CDATA[Wed, 16 Apr 2008 06:51:28]]>
</description>
<author>By: Walid Khadouri*</author>
<pubDate><![CDATA[2008-04-16]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=167]]></guid>
</item>

<item>
<title><![CDATA[Iran News Agency: Iran, Russia Need Not Fight for Gas Market]]></title>
<link><![CDATA[/bin/content.cgi?article=166]]></link>
<description>
<![CDATA[ Iran has stepped up its diplomatic activity, suggesting that its conflict with the West over its nuclear program is losing momentum, and the use of military force to settle it is no longer the option.  Americans, who are preparing for presidential elections, are more concerned about Iraq and the mortgage crisis.  But when analyzing the situation from the Russian perspective, we should remember that Iran has added energy to the quiver of its military and political arrows. Its advance to the... - Last Updated:]]> 
<![CDATA[Tue, 15 Apr 2008 08:26:50]]>
</description>
<author>By: Walid Khadouri*</author>
<pubDate><![CDATA[2008-04-15]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=166]]></guid>
</item>

<item>
<title><![CDATA[IMF Warns Mideast Countries of 'Geopolitical Uncertainties']]></title>
<link><![CDATA[/bin/content.cgi?article=165]]></link>
<description>
<![CDATA[ The International Monetary Fund (IMF) has warned the Gulf countries of "regional geopolitical uncertainties" that could pose substantial risks to the Gulf economies. It also warned of a "possible asset price bubble".  The UAE's consumer price index (CPI) inflation, at above 9% is a 19-year high, that 'remains a growing concern'… according to the IMF's latest half-yearly World Economic Outlook released recently.  "Inflation pressures in the region have risen... - Last Updated:]]> 
<![CDATA[Mon, 14 Apr 2008 11:03:58]]>
</description>
<author>By: Saifur Rahman</author>
<pubDate><![CDATA[2008-04-14]]></pubDate>
<guid><![CDATA[/bin/content.cgi?article=165]]></guid>
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