Market
Chinese Telecom Equipment Makers Strengthen their Position in the North African Market
With an aggressive stance in the region, the main Chinese Telecom Equipment Makers appear to be gaining strong momentum in North Africa. Given their current contracts and the areas in which they are involved, these companies are likely to consolidate their business there as suppliers of telecom equipment, infrastructure and services. Among the most active vendors are ZTE Corporation but most importantly Huawei Technologies.
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Petroleum
Sonatrach and Oil Companies Sign Eight Production Sharing Agreements, Issues New Tenders
Sonatrach finalized this week eight oil and gas production sharing contracts following the opening of bids that occurred at the end of July 2004. This was the fifth tender which benefited BHP/Woodside, CNPC, Sinopec, Amerada Hess, Repsol/ Gas Natural, Petroceltic and Statoil and a sixth round has already been launched early October.
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Media Market
Morocco: Too Many Newspapers, Not Enough Readers
The newspaper and magazine market in Morocco remains very small and lacks growth prospects. Compared to its neighbors of Algeria and Tunisia, it is lagging behind by far. This assessment was made this week by industry players during a conference organized by the World Association of Newspapers, Morocco’s editors association Fédération Marocaine des Editeurs de Journaux (FMEJ) and the press freedom study center (Centre d’Etudes sur la Liberté de la Presse).
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Economy
Morocco 2005 Draft Budget to be Submitted to Parliament on October 20
Work on the 2005 budget is ongoing in Morocco, and the government has until October 20, 2004 to submit its plan to the parliament. Meanwhile, the executive branch has to endorse it through an adoption of the details by both the government council and the council of ministers. The two men leading the effort of budget drafting are prime minister Driss Jettou and more importantly, his financial office, finance minister Fathallah Oualalou. The drafting of the budget is turning out to be a very difficult exercise considering the outcome of the 2004. Shortcomings and unexpected events have resulted in an negative impact on the 2004 budget, starting with the El-Hoceima earthquake of February 2004, which cost Morocco some MAD 2.6 billion. Then there was the MAD 760 million that Morocco was forced to spend to handle the ongoing locust crisis. Add to that the ever increasing oil prices, which smashed the 50-dollar barrier this week.
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Relations
Algeria and Iran Seal their Rapprochement After Years of Tension
Algiers and Teheran have agreed to turn a new chapter in their relationship and will attempt to erase the memories of the tumultuous years of suspicion and feud. Going beyond the importance of their efforts to boost trade, the visit to Algiers of reformist Iranian president Mohammad Khatami carries important symbolism in the way the two countries seek to establish a sustainable political and diplomatic rapprochement. Continue here...
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in this issue Relations Algeria and Iran Seal their Rapprochement After Years of Tension Privatization "One Third of Algeria's State Hotels to be Privatized," Trade Union Chief Corporate Orascom Makes Second Installment Payment for its Tunisian License, Shows Rising Sales Business Hyperion France Selects Linkware as its Exclusive Distributor in Morocco Economy Morocco 2005 Draft Budget to be Submitted to Parliament on October 20 Media Market Morocco: Too Many Newspapers, Not Enough Readers Corporate Sonatrach Seeks Opportunities in the Caribbean Banking BIAT Bank of Tunisia Signs Partnership Agreement with Sanpaolo IMI of Italy Petroleum Sonatrach Takes Possession of Two New Gas Carriers Trade Financing Sonatrach Expands Financing Sources with a New Credit Facility Agreement With EDC of Canada Corporate/Airlines Tunisair Narrows its Losses, to Issue Upbeat Results Petroleum Sonatrach Announces Two New Discoveries Petroleum Sonatrach and Oil Companies Sign Eight Production Sharing Agreements, Issues New Tenders International Law Tunisia Ratifies Nuclear Test-Ban Treaty Market Chinese Telecom Equipment Makers Strengthen their Position in the North African Market Telecom Equipment Petroleum PA Resources Says Ezzaouia Well Test in Tunisia Successfull Business Relocation Fruit of the Loom to Transfer Irish Operations to Morocco Analysis Libya's Rehabilitation in the International Community is Complete. Now Europe Wants More Oil and Fewer Immigrants Travel Intra-Maghreb Tourism: Tunisia Benefiting from its Neighbors Finance Morocco: Foreign Investment and Loan Data Fisheries Morocco Bans the Fishing of Shellfish in Essaouira-Kdema Due to High Biotoxin Content

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