Financial Markets in the GCC Prospects for European Cooperation

financial markets

The middle east and the EEC: An analysis of trade flows

The Middle East has become the largest external supplier of imports to the European Community, and is also the EC's largest export market. Rising oll prices have not only affected the value of EC imports from the Middle East, but have also ultimately determined the ability of the Middle Eastern states to pay for Community exports. What are the prospects for the continuing growth of trade between the Community and the Middle East? What would be the effect of a fall in oil prices or of a decline in the EC's dependence on Middle Eastern oil

MAKING DEVELOPMENT ASSISTANCE SUSTAINABLE THROUGH ISLAMIC MICROFINANCE

Microfinance schemes have been operational since the 1960s, however, they mostly involve conventional finance, whereas many low income Muslims would prefer to have shar¥cah compliant finance. The aim of this paper is to explore how microfinance can be provided on a shar¥cah compliant basis and what instruments and structures could be used. The implication of this paper is that shar¥cah compliant microfinance is best provided by non-banking institutions, which in the case of the wakOElah model, may have links to the waqf and zakOEh authorities.With muèOErabah profit sharing microfinance, there is scope for commercial undertakings, but arguably specialized finance companies rather than banks, even Islamic banks, may be more appropriate institutions to get involved.JEL classification: G21, Z12Key words: Islamic finance, Islamic Economics, Microfinance

Diversity of Hemiptera Auchenorrhyncha in citrus, coffee and a fragment of native forest of the State of São Paulo

A população de Hemiptera Auchenorrhyncha foi estudada em pomares de laranja doce (Citrus sinensis), cafezais (Coffea arabica) e floresta estacional semidecidual com fisionomia arbustiva, em Bebedouro (SP), com o objetivo de avaliar a influencia do ecossistema natural na composição de espécies do agroecossistemas. O monitoramento foi feito com cartões adesivos amarelos, os quais foram trocados a cada 15 dias, efetuando-se a contagem e identificação dos Auchenorrhyncha coletados. Capturou-se o total de sete famílias, 11 subfamílias e 98 espécies, sendo Cicadellidae o grupo mais abundante. A floresta nativa apresentou a maior riqueza, diversidade e equitabilidade de espécies de Auchenorrhyncha, demonstrando ser mais estável que os demais habitats. Os altos valores de similaridades obtidos entre os agroecossistemas e a floresta demonstram que grande parte das espécies de cigarrinhas que está ocorrendo nos habitats agrícolas também está ocorrendo na floresta, indicando que esta pode estar funcionando como reservatório de espécies. A abundância de grupos taxonômicos de Auchenorrhyncha coletados variou nos habitats avaliados, sendo Proconiini o mais abundante no cafezal próximo à floresta, Athysanini, Scaphytopiini, Neocoelidiinae e Coelidiinae no pomar de laranja e cafezal distante da floresta; Cicadellinae e Agalliinae não se relacionaram a nenhum dos habitats. A presença de insetos vetores e possíveis vetores de doenças de plantas cultivadas nos habitats avaliados indicam a necessidade da implantação do manejo de pragas nessa área.The population of Hemiptera Auchenorrhyncha was studied in sweet citrus groves (Citrus sinensis), coffee plantations (Coffea arabica) and a semi-deciduous seasonal forest with shrub physiognomy in Bebedouro, SP, to evaluate the influence of the natural ecosystem on the species composition of the agroecosystems. Monitoring was carried out by using yellow stick cards, which were replaced every 15 days and all Auchenorrhyncha collected were counted and identified. Seven families, 11 subfamilies and 98 species were collected, with Cicadellidae being the most abundant. The native forest presented larger wealth, diversity and equitability of Auchenorrhyncha species, demonstrating to be more stable than the other habitats. The high values of similarities obtained between the agroecosystems and the forest demonstrated that great part of Auchenorrhyncha species occurring in the agricultural habitats was also occurring at the forest, indicating that the last may serve as reservoir of species. The abundance of the taxonomic groups of Auchenorrhyncha collected varied with the evaluated habitats, with Proconiini being the most abundant in the coffee plantation next to the forest, Athysanini, Scaphytopiini, Neocoelidiinae and Coelidiinae in the orange orchard and coffee plantation distant from the forest; Cicadellinae and Agalliinae were not related to any of the habitats. The presence of vector insects and possible vectors of plant diseases in the appraised habitats indicate the need of the implementation of strategies for landscape management.Fundo de Defesa da Citricultura (FUNDECITRUS

The nature of the dwarf population in Abell 868

We present the results of a study of the morphology of the dwarf galaxy population in Abell 868, a rich, intermediate redshift (z=0.154) cluster which has a galaxy luminosity function with a steep faint-end slope (alpha=-1.26 +/- 0.05). A statistical background subtraction method is employed to study the B-R colour distribution of the cluster galaxies. This distribution suggests that the galaxies contributing to the faint-end of the measured cluster LF can be split into three populations: dIrrs with B-R<1.4; dEs with 1.4<B-R<2.5; and contaminating background giant ellipticals (gEs) with B-R>2.5. The remvoal of the contribution of the background gEs from the counts only marginally lessens the faint-end slope (alpha=-1.22 +/- 0.16). However, the removal of the contribution of the dIrrs from the counts produces a flat LF (alpha=-0.91 +/- 0.16). The dEs and the dIrrs have similar spatial distributions within the cluster except that the dIrrs appear to be totally absent within a central projected radius of about 0.2 Mpc (Ho=75 km/s /Mpc). The number density of both dEs and dIrrs appear to fall off beyond a projected radius of about 0.35 Mpc. We suggest that the dE and dIrr populations of A868 have been associated with the cluster for similar timescales but that evolutionary processes such as `galaxy harassment' tend to fade the dIrr galaxies while having much less effect on the dE galaxies. The harassement would be expected to have the greatest effect on dwarfs residing in the central parts of the cluster.Comment: 6 pages, 6 figures To be published in The Monthly Notices of the Royal Astronomical Societ