World Travel News

Israel’s Olmert tells Bush no Middle East peace progress if Hamas in govt

Israel’s Acting Prime Minister Ehud Olmert told US President George W. Bush today that there could be no progress in the Middle East peace process if Hamas entered a Palestinian government.

In their first telephone conversation since Israeli Prime Minister Ariel Sharon was admitted to hospital, Olmert updated the US leader on Sharon’s health, as well as discussing this month’s Palestinian parliamentary election which is being contested by the radical Islamist movement Hamas, said the prime minister’s office.

Olmert told Bush that Palestinian leader Mahmud Abbas must ‘take steps against terrorism and disband the terrorist organisations because otherwise there can be no progress with an administration in which there are terrorist organisations as members,’ a statement said.

Israel and the United States both regard Hamas, responsible for the majority of attacks during a five-year Palestinian uprising, as a terrorist organisation despite its embrace of the democratic process.

More: forbes.com

$56 billion to expand the Middle East of the South

Based upon Industrial Information Resources Inc.’s conversations with Alejandro Granado, vice president of refining of Venezuela’s government-owned oil company, Petróleos de Venezuela SA (PDV), plans to boost crude oil production to 5.8 million barrels per day by 2012, and 7.5 million barrels by 2020. Additionally, it will spend some $3 billion on expanding refining capacity. For the first six months of 2005 Venezuela’s crude production amounted to 3.3 million barrels per day. Some estimates have national crude-oil reserves exceeding 77 billion barrels.

PDV is considering spending $10.5 billion to build three new Venezuelan refineries in Cabruta, Caripito, and Barinas. If they are built, Venezuelan processing capacity will increase to 700,000 barrels per day. Moreover, investments in four of PDV’s existing Venezuelan refineries could increase heavy, and extra-heavy, crude-oil processing by 62%. These investments would be principally focused on the Paraguana refinery.

Additionally formation of strategic alliances is planned with Caribbean and South American countries to provide access to their refineries. PDV expects to invest $56 billion; the Venezuelan president, Hugo Chávez Frías, has indicated that phase one will run to 2012 and phase two to 2030—to accomplish the goals. Some 85% of the investments will be self-funded.

More: manufacturing.net

Bush’s New Policy Shift on Middle East

After a post-Sept. 11 turn to idealism, the Bush administration has slowly shifted back to a more traditional posture in the Middle East, governed by realism. While continuing to play lip service to democracy, the White House has apparently reassessed the situation in Iraq, re-engaged in the Israeli-Palestinian peace process, stressed the importance of stability, promoted business and trade ties, and avoided new conflicts.

However, the reorientation of the regional policy has been complicated domestically by Congress, which of late has statutorily and rhetorically challenged the president’s regional policy.

Initially premised on eliminating the nascent Iraqi WMD program, the White House later claimed the invasion of Iraq was part of the war on terror. Neo-conservatives insisted a democratic Iraq would fuel reform across the Arab world. But with mounting casualties and scant evidence of progress, public support for Iraq plummeted throughout 2005. Nevertheless, the White House remained unwilling to modify its tactics or rhetoric until Nov. 17, when hawkish Democratic Representative Jack Murtha — a retired Marine colonel — announced his support for the withdrawal of US forces.

More: menafn.com

Middle East can beat India in race to become global hub

Given the infirmity in logistics and high import tariffs in the Indian oil refining industry, the Middle East will gradually outdo India in terms of developing potential refining hubs in Asia, says a study conducted by Shell Global Solutions International.

The study points out that the lower capex for refinery in India over other potential hubs compensates for weaknesses on logistics. it also says that India is cost competitive vis-a-vis other potential export refining centres. However, being cost competitive is not enough if markets are blocked by product import tariffs and only domestic refineries are cost competitive.

India has higher tax rates and lower tax holiday period than other potential export refining locations. Considering the project taxation, the Middle East becomes the favourite location while places like Taiwan and Singapore are equally cost competitive.

As per the study, the Middle East will surpass India in terms of building considerable export capacity. In the time to come, the Middle East will build their export capacity, as bevy of investments are underway in Qatar on the gas to liquid (GTL) plants that will give high paraffinic naphtha, kerosene and diesel.

More: financialexpress.com

Value of Middle East eyewear market reaches USD2 billion

In the Middle East, the market for high-end ophthalmic products and branded optical aids is now worth over USD 2 billion.

Regional consumers spend significant amounts on the purchase of prescription lenses and frames, sunglasses, contact lenses and assorted eye care products, thanks to their relatively high purchasing power and the extreme climatic conditions in which they live.

However, opticians and public health experts have expressed concern that levels of patient education regarding optical health are not high enough in the region. Typically, opticians recommend that people visit a trained optician every year, but the evidence suggests that insufficient numbers of people in the region are managing to do this, for a range of economic and social reasons.

More: ameinfo.com