The Tunisian government’s published a letter sent to the IMF, describing the government’s intention to recapitalize its banks through a rescue operation. The amount needed by the government is around $1,1billion, an equivalent of 2,6% of their economic output, in the next two years. The IMF and Tunisia finally agreed on a $1,74 billion loan [...]
Fayyaz Azz El-Din, Chairman of the Canadian Chamber of Commerce in Egypt and the Middle East, has lambasted the Egyptian government for its lack of economic vision to pull the country out of its ongoing crisis. In his analysis, he said that the economic growth of Egypt for the future seems to diminish in the [...]
Mahdi Jumaa, the Tunisian minister of industry has been in Tripoli, Libya for a two-day visit with discussions mostly focused on energy and construction. Plans for a gas pipeline from the Melliteh gas complex situated in the western of Zawia, to the Tunisian city of Gabes, as well as an electricity joint project are on [...]
The UK issued an official apology and compensation package worth $32 million to Kenyans who suffered torture and abuse during the Mau Mau uprising against British colonial rule in the 1950s. The news was announced on Thursday by the British Foreign Secretary William Hague in London when he told parliament, “The British government recognizes that [...]
The Egyptian government is battling to complete oil supply deals that it has concluded with Libya and Iraq due to the lack of acceptable bank guarantees. Amidst fuel shortages, the inability to secure an acceptable guarantee highlights the weakness of the public coffers. The deals were expected to solve the country’s energy problems, but an [...]
NATO will be sending experts to Libya as soon as possible to evaluate how it can help to improve its security, bring the maneuvers of the militias under control and combat the rapid rise of Al Qaeda-linked fighters in the south region. Their visit to Libya was a demand made by Prime Minister Ali Zeidan [...]
While the world media and analysts are still focusing on the direct involvement of Hezbollah in the Syrian war and commenting on the impact such an involvement may have on the final outcome of this war, the Lebanon-based Shiite movement came to the forefront again last week, but this time not in the Middle East [...]
Japan will be financially supporting Tunisian projects up to $730 million in a bid to ease the North African country’s hardship during its transitional period. The announcement was made by the Tunisian president’s office in a released statement. Sources close to his office claim that it will be a loan although the statement avoided the [...]
The chief executive officer of Russian Technologies (Rostech), Sergei Chemezov, has revealed that the Libyan government wants Russia to lift its ban on arms contracts in what seems to be its growing interest in Russian technology. The CEO claimed that it was one of the several Libyan requests aimed at persuading Kremlin to review its [...]
The Fisheries Committee of the European Parliament wants the fisheries agreement negotiated by the European Union and Mauritania to be rejected, believing that the conditions do not satisfy the interest of the two parties. Their request for the rejection of the agreement will be decided on at the next plenary session in July. The current [...]
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