Category: business

The Tunisian-African Business Council (TABC) on Friday in Tunis launched the first Tunisian-Libyan Business Council. The aim of this council is to focus on a better economic rapprochement between the two countries and provide the necessary support to relaunch trade and investment between the two business communities, said Bassem Loukil, President Tunisian African Business Council (TABC), at the launch of the first bilateral business council. He said  that “the aim of the step is to restore the dynamism to the Tunisian-Libyan relations.”  “The recent years were characterized by the absence…

The Islamic Corporation for the Development of the Private sector (ICD) signed a commitment letter with Caisse des Dépôts et Consignations (CDC), Tunisia, as well as seven memoranda of understanding, namely with CDC, Wifak Bank, Zitouna Tamkeen, Intilaq Fund, BFPME and UGFS. The signing ceremony was held at the Four Seasons Hotel in Tunisia during the 43rd Annual Meeting of the Islamic Development Bank Group. It is a clear sign that business in Tunisia is at the heart of ICD’s strategy to help the Tunisian private sector in the most…

Eighteen countries joined together to create a safe and sustainable Mediterranean electricity network towards a single energy market. The Mediterranean project, managed by 20 partners of 18 EU and non-EU countries, and led by Med-Tso, the association of electricity managers in the Mediterranean area, was launched in 2015 and throughout the last three years achieved its first results. The economic value of the operation and many other details will be presented on Tuesday, 10th April, at the European Parliament in Brussels. The project has been realized thanks to a loan…

Tunisia will launch a global tender on April 27 to build 2.5 billion Tunisian dinars (USD1 billion) solar and renewable wind power plants, Prime Minister Youssef Chahed said on Thursday. Speaking at an energy conference that the tender aims to produce 1,000 megawatts of electricity from solar and wind power in the regions of Kairouan, Tozeur, Tataouine, Sidi Bouzid and Qebli without giving details. Tunisia said in March it would invest 12 billion dinars in electricity and other energy projects from 2018 to 2020. At that time, it mentioned projects…

-Nation’s currency depreciated 19% against the euro last year -Economy is still struggling seven years after Arab Sprin Tunisia’s dinar must weaken further this year if the North African country is to boost exports and revive an economy battered by political upheaval since its 2011 uprising, the International Monetary Fund said.  “I don’t think that we need to see a big downward movement to equilibrium, I think we are not too far from it,” Björn Rother, the IMF’s Tunisia mission chief, said in a telephone interview. “I also don’t think we need…

The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank (IDB) Group, celebrated its 10th anniversary on Monday. The celebration was held at the Four Seasons Hotel, Tunis, and attended by the governors of the IDB member countries, official delegations and a number of representatives from the private sector and civil society. The event comes on the sidelines of the 43rd meeting of the board of governors of the IDB, which was held in Tunisia on Sunday under the theme “Partnerships for Sustainable Development.” ITFC CEO…

Tunisia’s tourism revenues rose 23% year-on-year in the first three months of 2018, the government said on Tuesday (April 3), as the sector recovers from two militant attacks on holidaymakers in 2015. Tourism minister Salma Loumi forecast last month that arrivals would reach a record 8 million this year, fully reversing the damage inflicted by the attacks. “Revenues rose by 23% from 371 million dinars ($153 million) in the first three months of 2017 to 457 million dinars ($188 million) in the first three months of 2018,” the tourism ministry…

The Startup Act was passed by the House of People’s Representatives (HPR) at a plenary session on Monday evening. Anouar Maarouf, Minister of Communication Technologies and Digital Economy described the draft law as “revolutionary”, considering that its adoption represents a first step on the road to the construction of country’s future. He added “the Act intervenes in response to a call made by young people and will help to overcome the obstacles that hinder the implementation of their projects”. “This law is likely to create an economic dynamic by attracting…

The Islamic Development Bank has agreed on Sunday to lend Tunisia $185 million to finance developments including an electricity project, an official told Reuters. The bank agreed to finance an electricity link worth $150 as well as the construction of hospitals in Kasserine and Kef worth $34 million. The agreement will be signed on Thursday between Tunisia’s Minister of Development and the head of the bank, which holds its annual meeting in the country this year. TunisianMonitorOnline (Reuters)

Tunisia raised fuel prices on Saturday for the second time in three months in an effort to rein in its budget deficit, one of a series of reforms the country’s international lenders want. The price of a litre of petrol will rise about 3 percent, from 1.80 dinars to 1.85 dinars, starting Sunday, the ministry of energy said in a statement. The last increase was also by about 3 percent, in January of this year.  The International Monetary Fund approved last week the payment of a $257 million tranche of…