Finance Minister denies speaking of devaluation of Tunisian dinar

Finance Minister Lamia Zribi denied having spoken of a possible devaluation of the dinar that would stand at 3 dinars against the euro, as reported by several media. Speaking at a meeting with a limited number of national media to explain this issue, she added “that there are currently no objective criteria for this assumption in view of the hypothesis given the recovery in phosphate production and exports and the positive signs recorded in the tourism sector, especially in overnight stays. She added that “there is no pragmatic and technical…

Could Brexit Boost Olive Oil Exporters?

If the UK adopts a ‘New Zealand trade model’ to source more affordable deals for its consumers, it could have a profound effect on olive oil exporters that have faced hurdles when exporting to EU countries. At the end of March, UK Minister Theresa May officially triggered Article 50 of the Treaty of Lisbon, setting in motion the two-year negotiation process of Britain leaving the European Union – or as it’s more commonly referred to, Brexit. The move signals a fundamental change in the way the EU and Britain will…

Arabsat Sponsors 18th Arab Radio and Television Festival in Tunisia

The Arab Satellite Communications Organization – Arabsat – sponsors and participates in the 18th edition of Arab Festival for Radio and Television, organised by the Arab States Broadcasting Union (ASBU), from May 25-28, 2017, in Yasmine Hammamet, Tunisia, attended by several media figures and broadcasters from the Middle East and North Africa. Engineer Khalid bin Ahmed Balkheyour, President and CEO of Arabsat, said, “Arabsat has a unique and strong commercial relationship with ASBU, involving many successful projects, such as the global Arabic bouquet. In addition to the partnership agreement MENOS…

The 4-hour workweek

Most of us are brought up in a culture where we are taught to follow a predetermined path : go to school, high school then college to get a good degree so later you can apply to a high-paying job and the higher the better. We often make the mistake of looking at wealth from a shallow perspective and here’s why: For example, a banker who makes 100.000$ a year  is considered wealthier than a teacher who makes 40.000$ a year . This is not true , simply because after…

ME hotel occupancy, rates down in Q1, Africa results positive

The hotel industry in the Middle East reported negative performance results during the first quarter of 2017, while hotels in Africa posted growth across the three key performance metrics, according to data from STR – a leading market research firm. Occupancy in the Middle East dropped 1.4 per cent to 70.5 per cent while average daily rate (ADR) slipped 6.8 per cent to $173.06, pushing revenue per available room (RevPAR) down 8.2 per cent to $122.07. Performance was down across all submarkets, with Al Khobar/Dammam and Jeddah reporting the most…

Cooperation with Tunisia is important from both an economic and security perspective

“Cooperation between Hungary and Tunisia is important from both an economic and security perspective”, Minister of Foreign Affairs and Trade Péter Szijjártó said in a statement to Hungarian news agency MTI on Monday. Mr. Szijjártó told the press that during his visit to Tunis on Monday he had met with the Tunisian President and Foreign Minister. “Cooperation between Hungary and Tunisia is extremely important from both an economic and security perspective. From a security perspective because while there is peace and stability in Tunisia “we can be sure that hundreds…

Too Great Expectations?

The successful outcome of Tunisia’s municipal elections next December is not guaranteed. On April 3, the Tunisian government officially set a date for the country’s first democratic municipal elections. After numerous postponements, officials agreed to hold the elections on December 17, 2017, the seventh anniversary of the self-immolation of Mohammed Bouazizi, the literal spark that began the Arab uprisings. However, the decision to tie the date of the elections to an event with such political and emotional significance may be setting expectations too high. For the elections to succeed, the…

Tunisia endeavors to bring home children stuck in Libya

The Tunisian foreign ministry is putting some diplomatic efforts to return 24 children who were born to IS militants that got killed in Sirte and Sabratha, sources from the ministry said. The 24 children are split into a prison in Tripoli and under the Libyan Red Crescent protection in Misrata, the ministry added, saying their ages do not exceed 5 years. According to the head of the consulate affairs of the Tunisian foreign ministry, Shafiq Al-Haji, many Tunisian officials from the interior ministry and others are working on resolving this…

Rate of duty-free oil exports to EU down from 27% in 2015 to 19% in 2016 (OTE)

The European Parliament had voted to allow an additional 70,000 tonnes (35,000 per year) of its virgin olive oil to be imported duty free in the EU, in 2016/17, in order to support Tunisia following the 2015 attacks, but data show that the support announced by the EP has not materialised in practice. On the contrary, the percentage of duty-free olive oil exports has decreased from 27% in 2015 to 19% in 2016, down 8%, revealed the Tunisian Observatory of the Economy (French: OTE). According to a note published by…

Tunisia beach massacre case set for next month

The first hearing in the Sousse terror attack case  is set for May 26 rather than April 28 as media reports said, Spokesperson for the Tunis Court of First Instance and Anti-Terror Judicial Pole Sofien Selliti said Saturday. The investigating judge in charge of the case closed the inquiry last summer; there are 51 defendants, including 17 placed under arrest, 27 who remain at liberty and 7 others who are on the run, including Aboubakr Al-Hakim and Chamseddine Sendi. The June 25, 2015 terror attack carried out by Seifeddine Rezgui…