-Caveat Lector-

>From ArabicNews.CoM


US has invested $13.5 billion in Egyptian petroleum sector
Egypt, Politics, 2/9/99

Egyptian Minister of Petroleum Hamdi El-Banbi said that the United States'
investments in exploring and drilling for petroleum in Egypt have reached
so far $13.5 billion.

During his tour of a petroleum company in the Ras Sheikr area, he said the
American companies participate in producing 35% of the total crude oil
production in Egypt and 35% of the total natural gas production.

El-Banbi stated that the investments of foreign companies exploring for oil
was not affect by the decrease in international oil prices.

Daniel Kurtzer, the US ambassador in Cairo, had stated that the petroleum
field in Egypt provides attractive investments opportunities.


Imports from Canada worth $320 million annually
Egypt, Economics, 2/9/99

Tourism, trade and industry minister for the Canadian province of Manitoba,
James Downey, confirmed that the volume of Canadian exports to Egypt
amounts to $320 million annually, while the volume of Canadian imports from
Egypt amounts to $80 million, at the top of which come petroleum products.

The Canadian official announced during his meeting with the members of an
Egyptian trade group in Alexandria he agreed with Egyptian investors on
endorsing a cooperation agreement between Manitoba province and Egyptian
businessmen.


El-Baz: We saved Iraq in Feb 98
Egypt, Politics, 2/10/99

The Egyptian president's political advisor, Osama El-Baz, confirmed that
Egypt will remove the technology gap with Israel during the coming years,
referring to the astonishing progress in technology.

El-Baz also remarked during his meeting with the students from Cairo
University, El-Baz said that Egypt exerted great efforts in preventing air
strikes against Iraq by means of diplomatic communications that President
Mubarak held with the United States, Britain, and the UN secretary general.

Egypt succeeded in preventing the strike that was to be carried out in
February 1998, clarifying that despite Egypt's position Iraq has thanked
Russia but ignored the Egyptian role in preventing the strike, El-Baz said.
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