Libya is planning to build its tourism sector with the help of United Nations World Tourism Organization (UNWTO), as part of its socio-political transformation and economic diversity. The tourism ministry is also counting on the cooperation of the population and participation of public and private sectors. A delegation led by UNWTO Secretary-General Taleb Rifai discussed [...]
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 Executive Board of the IMF has finally approved a 2 year Stand-By Arrangement, for an amount equivalent to Special Drawing Rights (SDR) $1.74 billion to Tunisia, to support the country’s economic reform program during the 2013-2015 period. The approval of the emergency stand-by loan deal is geared towards strengthening fiscal and external buffers, and [...]
The Assistant Deputy Minister of Telecommunications, Atef Al Bahri, was speaking at the third day of MEED’s “Libya Projects 2013” conference. It will be focusing on 4 main issues: a new law, securing networks, enhancing them and finally restructuring the ministry. The new law is expected to allow the private sector to participate competitively in [...]
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 [...]
Egypt has signed an agreement with Saudi Arabia to link their electricity grids. The agreement is worth an estimated value of $1,6billion and it is expected to generate around 3,000 megawatts of power. The project is expected to be functioning by 2016, while the construction works necessary for the project are expected to be achieved [...]
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 [...]
Eni, an Italian oil and gas group, has sealed an agreement with Algeria to buy less gas. The move is part of the Italian company’s plans to review a majority of its long-term gas contracts with its suppliers this year after it started experiencing a fall in demand. According to Eni, the recent agreement is [...]
The International Monetary Fund has voiced out its observations about Egypt, citing that inflation will rise to 10,9% this year; thereby surpassing the previous estimation of 8,2% published last month in its half-yearly analysis of the world economy. These observations which were published as part of IMF’s regional outlook also stated that Morocco, Tunisia and [...]
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