Month: May 2017

BRIEF-Fitch affirms Tunisia at ‘B+’ outlook stable​

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Fitch affirms Tunisia at ‘B+’; outlook stable * Fitch on Tunisia – has affirmed short-term foreign- and local-currency IDRS at ‘B’ and country ceiling at ‘BB-‘ * Fitch on Tunisia says external imbalances have worsened, with a wider current account deficit in 1q17 leading to exchange rate pressures * Fitch, on Tunisia, says ‍without fiscal consolidation to reduce foreign financing needs, Fitch expects strains on external balances to continue * Fitch on Tunisia – expects exports growth to be aided by higher GDP growth in Europe, and projected recovery in…

Despite turmoil in the region, tourism in Morocco still thrives

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Despite turmoil in the region, tourism in Morocco still thrives The tourism industry in Morocco is still successful despite the turmoil in the region since 2011, Masralarabia.com reported on Friday. More than 10 million tourists visit the country every year, with Morocco being the least affected by the ongoing geopolitical changes in the Middle East-North Africa (MENA) region. Moroccan Tourism Minister Mohamed Sajid expects a 5.5 per cent increase in the number of tourists visiting his country this year. That translates into 10.9 million people. The minister revealed earlier this…

G-7 leaders to condemn N. Korea, terrorism as summit wraps up

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Group of Seven leaders are set to send a message of condemnation of North Korea’s nuclear and ballistic missile programs and of terrorism on Saturday, the second and final day of their summit in Italy. The leaders, four of whom are newcomers to the annual gathering, are expected to exert last-minute efforts to bridge the remaining gaps over sensitive trade and climate change issues before releasing a joint communique in the afternoon.  The statement at last year’s summit, hosted by Japan, included a clear commitment to the landmark 2015 Paris…

Hope for the Future: The New Silk Road (Dr. Ahmed Al-Kedidi)

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Certain important events this week brought joy to me personally, because they confirmed for me that I was right in taking the decision, three decades ago, to join in the project to change the evils of the unjust trans-Atlantic world order, and replace it with a new and just world order established on the foundations of cooperation and inclusion of all nations in development, and achieving lasting peace on the basis of connecting nations and continents through railway networks, bridges, and tunnels, and facilitating the movement of people, goods, and…

Swiss return funds from Ben Ali relative to Tunisia

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Switzerland returned around 3.5 million euros ($3.91 million) held by a close relative of former Tunisian president Ben Ali to Tunisian authorities as part of the country’s stolen assets recovery process, Swiss authorities said on Friday. The Swiss government froze assets held in Switzerland by the deposed Tunisian president and his entourage in early 2011, the foreign ministry said, part of an effort to prevent the flight of capital suspected of having been illicitly acquired. Criminal investigations have since been opened in both countries. “Acting on a request for mutual…

Macron is bad news for Britain’s borders

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The Treaty of Le Touquet gives the French president major leverage in Brexit talks. French President Emmanuel Macron’s victory in France was greeted across Europe with an audible sigh of relief, and now many across the Continent are watching eagerly to see if he can carry out the reforms he promised on the campaign trail. In the U.K., however, the outlook is at best mixed. On the one hand, there’s the sense of a bullet dodged with the defeat of Macron’s far-right opponent Marine Le Pen. On the other, there’s the fact that…

Coral smuggling degrades environment, economy

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Due to their brilliant composition, design, and strategic locations, coral reefs serve superbly as natural shock absorbers from the relentless force of the sea. By absorbing energy from gentle or powerful waves, coral reefs protect beaches from erosion, preventing water from easily cutting into mounds of sand that lay far beneath the bare feet of beach-goers above them. Without this bulwark of coral, precious beach would degrade and collapse. Little made by man can replace this natural wonder. Although coral reefs comprise less than .01 percent of ocean life and…

Tunisia’s Expensya raises $1.1m to grow smart business expense solutions

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Tunisian smart business management solutions startup Expensya has raised EUR1 million (US$1.1 million) from private investors to allow it to step up its research and development activities, expand its sales teams and boost its international expansion. Expensya, which processes tens of thousands of business travel and expense reports for clients worldwide and also has offices in Paris and Berlin, markets its smart business expense solution in 22 countries. “This increase in capital will enable us to continue to invest in digital transformation, archiving and processing technologies to offer customers smart…

Tunisia’s Decentralization Process at a Crossroads

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Without a new decentralizing framework, elections for new local councils in Tunisia will not make them more responsive to local concerns. Shafik Sarsar’s resignation as head of Tunisia’s Independent High Authority for Elections (ISIE) on May 9, together with two other board members, cast the authority’s decision to hold the next municipal elections on December 17, 2017 into further doubt. After delaying it twice, ISIE was able to finalize the date—a reference to the start of Tunisia’s 2011 revolution—after the long-awaited Law on Local and Regional Elections was adopted on…

Tunisian PM vows to fight graft in the country

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Tunisian prime minister has declared war against graft in the country. Youssef Chahed said on Wednesday that the government will “see the war through the end and there’s no choice.” “I want to reassure all Tunisians that the government will see this war on corruption through to the end, I ask all Tunisians to be united and work together for Tunisia,” he added. “I want to reassure all Tunisians that the government will see this war on corruption through to the end” He was speaking after the arrest of three…