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Morocco Leads Maghreban Countries in FDI Flows

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Morocco topped the countries of the Maghreb region in terms of attracting foreign direct investment (FDI) in 2016, according to a report established by the Arab Investment and Export Credit Guarantee Corporation. The North African kingdom attracted $2.3 billion worth of FDI in 2016, followed by Algeria with 1.5 billion, Tunisia with 958 million, and Libya with 493 million. At the Arab world’s level, Morocco came fifth preceded by the UAE, Egypt, Saudi Arabia and Lebanon. In total, Arab countries attracted some $30.8 billion worth of FDI in 2016, a…

Gold for Tunisia Heralds Start of New Beginning

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Karim Fitouri of Olivko says his Gold Award at NYIOOC marks the beginning of Tunisia’s transformation from a bulk producer for the export market to a country known for its high-quality olive oil. Winning entries at the 2017 New York International Olive Oil Competition (NYIOOC) included exceptional olive oils from 20 countries, with Italy topping the list with 123 awards, followed by Spain not far behind with 110. But national pride is probably highest in Tunisia for its first Gold Awards at NYIOOC: one for Olivko, and another for Zeet.…

Germany Announces $338 Million of Financial Aid to Tunisia

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Tunisia and Germany signed a partnership agreement this week for additional financial support to Tunisia worth €300 million ($338 million). The agreement stipulates the payment of €100 million a year for three years, Foreign Minister Khemaies Jhinaoui announced.  It involves providing support for public finances, he said, pointing out that Germany would also provide a credit line to support small and medium-sized enterprises in Tunisia. The agreement was signed on the occasion of the G20-Africa Partnership Conference held on June 12 and 13 in Berlin. Albawaba

G20 Com­pact with Africa

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G20 initiative to promote private investment and investment in infrastructure The G20 Africa Partnership is a central project of Germany’s G20 presidency. Its aim is to improve conditions for sustainable private sector investment, investment in infrastructure, economic participation, and employment in African countries. A key pillar of the G20 Africa Partnership is the Compact with Africa, an initiative within the G20’s finance track. It is coordinated by the German Federal Ministry of Finance. Resolution on the Compact with Africa adopted by G20 finance ministers and central bank governors in Baden-Baden  The G20 acknowledges…

Olivko keeps its promises, pays tribute to teamwork of extra virgin olive oil processing

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Karim Fitouri, Founder of Olivko winner of the gold medal prize of the New York International Olive Oil Competition (NYIOOC), held in New York, USA on Thursday April 27, 2017, .keeps his promises by paying tribute to all those who contributed to achieving this success through the different steps of processing. He acknowledged the efforts made by Slim Fendri owner of the “Domaine Fendri”, the young Sfaxian who spent the last 15 years striving to improve the quality of extra virgin olive oil. The process is not easy and needs…

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…

Tunisian olive oil Olivko wins Gold Award in New York International Olive Oil Competition

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Tunisian olive oil “Olivko” last Thursday won the Gold Award at the world’s largest olive oil competition, held Thursday in New York, USA. This extra virgin olive oil, extracted from the Tunisian olive variety “Chetoui”, comes from Dougga valley, an archaeological site declared a UNESCO heritage site, located at the Teboursouk delegation in Beja (northern Tunisia). Tunisia took the leading position alongside Italy, Spain, the United States and Greece, in this competition which evaluated 910 olive oils from 27 countries. “This award is not only for me, but for the…

Merkel’s visit to Algeria aims at strengthening economic cooperation

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German Chancellor Angela Merkel’s official visit on Monday to Algiers constitutes an opportunity to assess the Algerian-German economic relations and to reinforce the partnership avenues for a strong relation economically. This second visit of Merkel following that paid in 2008 will be notably marked by the holding of the 6th session of the Algerian-German Joint Committee and the Business Forum between the two countries’ operators. It also follows the visit Prime Minister Abdelmalek Sellal has paid to Berlin in January 2016, during which the two parties had identified about thirty…

Meeting between Algeria, Egypt, Tunisia on Libyan crisis moved forward

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A tripartite meeting between Egypt, Tunisia and Algeria to discuss resolving the Libyan crisis will be held on Sunday instead of 1 March, the Tunisian foreign ministry announced on Friday. In an official statement, the Tunisian ministry said that upon consultation with the Egyptian and Algerian foreign ministers, it was decided that the meeting, hosted by Tunisia, be brought forward. On Thursday, Foreign Minister Khamis Alaghinawa announced Tunisia is set to host on 1 March a much-anticipated tripartite summit on the Libyan crisis. The meeting will tackle the results of…

Italy expels Tunisian with indirect link to Berlin attacker

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Italy says it has expelled a Tunisian who allegedly was in contact with an Islamic State group member with links to the Berlin attacker. The Interior Ministry said Friday that the 32-year-old Tunisian, who was living in Ancona, Italy, praised IS on his Facebook page and was in contact with a fellow Tunisian who is an IS member. That member, says the ministry, had been in contact with Anis Amri, a Tunisian suspected of attacking a Christmas market in Berlin with a truck, killing 12 people. Amri was killed in…