Saturday 19 August 2017
(Reuters 08/18/17)
TUNIS (Reuters) - Tunisia's interim finance minister, Fadhel Abdelkefi, told local radio on Friday that he was resigning from the government over a conflict of interests case in which he has been fined and handed a suspended prison sentence. Abdelkefi had also been serving since last year as minister for development, investment and international cooperation in Prime Minister Youssef Chahed's government.
(Xinhuanet 08/16/17)
Tunisia's statistic agency has said it expected the Tunisian economy to grow by over 2 percent this year, despite high unemployment and inflation rates. The North African country's economy grew 1.9 percent year-on-year in the first half of 2017 with contributions from the agricultural and service sectors, the National Institute of Statistics (INS) said Tuesday. Foreign trade registered a year-on-year growth rate of 15.9 percent in the first seven months this year, the agency said, adding that the unemployment rate reached 15.5 percent while inflation stood at 5.6 percent by July this year. The International Monetary Fund (IMF) mission in Tunisia said in February that Tunisia's economic growth is expected to pick up, while significant macroeconomic challenges linger. The IMF...
(Agence Ecofin 08/10/17)
From October 1, 2016 to August 7, 2017, period over which extends the date season, Tunisia exported 103,000 tons of dates valued at 530.3 million dinars ($220 million). This was disclosed by a statement from the ministry of agriculture, water resources and fishery released yesterday. Proceeds of the exports over the period reviewed is 19% more than that recorded a year before, knowingly 445.8 million dinars ($185 million). In regards to the main export destinations of the dates, Morocco is...
(Xinhuanet 08/09/17)
The United States Trade Representative (USTR) on Wednesday affirmed the commitment of his country to Africa and saw "great potential to grow and deepen trade relationship." Robert E. Lighthizer expressed this in opening speech of the ministerial plenary as part of the 16th Forum of the Africa Growth and Opportunity Act (AGOA), on Wednesday here in Togolese capital Lome. "The United States is committed to Africa. We see great potential to grow and deepen our trade relationship, with the goal...
(Xinhuanet 08/03/17)
Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday. The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce. During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year,...
(Bloomberg 08/02/17)
Julien Ochala can’t live without his morning cup of Joe. But not just any coffee will do. For the past five years, the 37-year-old physiology lecturer at King’s College London has visited the same store every week to grab a pack of his beloved Kenyan brew. And he’s not put off by the cost: at 37 pounds a kilogram ($22 a pound), it’s more than double a similar supermarket product. "I take Kenyan coffee every morning," said Ochala, who buys...
(Bloomberg 08/01/17)
British American Tobacco Plc faces a formal probe by the U.K.’s Serious Fraud Office following reports that the maker of Dunhill cigarettes bribed African government officials to influence tobacco legislation. BAT said Tuesday it is running its own investigations, via external legal advisers, into allegations of misconduct and is cooperating with the U.K. prosecutor. A BBC report two years ago said BAT had a lobbyist arrange bribes totaling $26,000 for three public officials in Rwanda, Burundi and the Comoros Islands...
(Xinhuanet 07/31/17)
Tunisia and Saudi Arabia signed eight cooperation agreements in economic and commercial fields on the sidelines of the 9th Tunisian-Saudi Joint Commission held here on Friday. The eight bilateral agreements included a memorandum of understanding (MoU) in export valued at 200 million U.S. dollars. The two parties also signed a MoU on a joint work plan between the High Authority for Investment in the Saudi Arabia and the Foreign Investment Promotion Agency (FIPA) of Tunisia. Besides, the two governments signed...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with...
(Xinhuanet 07/26/17)
Tunisia's trade deficit in the industrial sector widened in the first half of 2017, reaching more than 4,600 million dinars (1,886 million USD), the Agency for Promotion of Industry and Innovation (APII) said on Tuesday. It increased by 26.24% compared to the same period of 2016, the agency said. The APII said that Tunisian industrial exports have grown by 10.7% in the first six months, reaching over 14,502 million dinars(5,946 million USD). Meanwhile, the imports also increased by 14.1% to...
(Xinhuanet 07/20/17)
The number of foreign tourists to Tunisia during the first half of 2017 increased by 29.3 percent compared with the same period of 2016, with more than 2.5 million visitors to the country, according to the Tunisian Federation of Hotels (TFH) on Wednesday. "This performance is primarily due to the restoration of growth in the various European issuing markets," said Mouna Ben Halima, the TFH general secretary. According to Ben Halima, European tourists visiting Tunisia could rise by 30 percent...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30...
(Xinhuanet 07/17/17)
Africa is making progress towards the establishment of a trade zone by Oct. 30 that will cover approximately half of the continent's member states. The Common Market for the Eastern and Southern Africa (COMESA) Director of Trade and Customs, Francis Mangeni, said in a commentary published in the Star Newspaper on Monday that so far 19 of the 26 countries involved have signed the agreement. "Three outstanding annexes had meant the tripartite agreement was not complete and this was advanced...
(Xinhuanet 07/10/17)
Tunisia and China signed on Friday three agreements to boost commercial cooperation between the two countries. The agreements were signed at the fifth edition of the forum "Tunisia-China: A Partnership for the Future" hosted by the Arab Institute for Business Leaders (IACE) in the capital Tunis. The agreements involve a mega-project to build a commercial complex worth 65 million U.S. dollars in Tunisia, which covers an area of 200,000 square meters. According to IACE President Ahmed Bouzguenda, the long-awaited agreements...
(Bloomberg 07/10/17)
Many cell phone companies are rethinking their headlong rush into the continent. Only Orange is staying the course. Back when African countries were auctioning off mobile licenses by the boatload to serve the region’s young, tech-savvy population, investing in the continent’s fast-growing economies seemed like a no-brainer. Some of the world’s biggest wireless carriers rushed in. Now they’re wondering if they made a mistake. Increasing government and regulatory scrutiny, as well as a lack of expansion opportunities in sub-Saharan Africa,...
(APA 07/03/17)
APA-Yaounde (Cameroon) - Economic exchanges between Cameroon and Tunisia have gone from CFA 10 billion francs in 2010 to CFA 15 billion francs in 2015, APA learnt at the end of a bilateral forum held in Yaounde. Cameroon’s imports from the North African country include agro-industry, hydrocarbons, building materials, pharmaceuticals products, and machinery and production equipment produced. Yaounde wishes the trend to continue, through a shift towards the trade in manufactured goods. The meeting in Yaounde has, according to the...
(Xinhuanet 06/30/17)
Foreign investment in Tunisia grew 2.2 percent to 0.82 billion dinars (0.33 U.S. dollars) in the first five months, Foreign Investment Promotion Agency (FIPA) of Tunisia said Thursday. During the same period of last year, foreign investment was 0.80 billion dinars, said Hatem Soussi, director of the monitoring and support unit of FIPA. According to him, 18.8 million dinars was portfolio investment, a drop of 29.6 percent, while the rest was foreign direct investment, an increase of 3.3 percent. The...
(AFP (eng) 06/14/17)
Tunisia has extended for another four months a state of emergency in place since a 2015 jihadist attack, the president's office announced on Wednesday. "President Beji Caid Essebsi decided on Wednesday to extend the state of emergency for four months starting from Thursday, June 15," his office said on Facebook. The state of emergency has been in place since a November 2015 jihadist bombing in Tunis that killed 12 presidential guards. The Islamic State group claimed the attack as well...

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