First Independent Mena Newspaper
Tunisia will be introducing its financial transactions to Sukuk for the first time next year alongside Egypt according to CIMB Group Holdings and OCBC Al-Amin Bank with the global sukuk sales tipped to surpass 2012 record of $46 billion in 2013. Sukuk has been attracting countries after the global economic crises took centre stage. Countries […]
The government is preparing to sell almost 60% of its bond in the next quarter. The decision is a U-turn on its strategy to cut long-term debt sales by 49% in expectations of the delayed IMF loan. The Finance Ministry will seek to sell 26billion pounds ($4.2 billion) in bonds maturing in 3years to 10years, […]
Libyan youth living around the coastal areas are turning towards kitesurfing to occupy their leisure time. The sport is gaining huge popularity. Water sports in Libya, a Mediterranean country boasting a 1,770-kilometre coastline (1,106 miles) and almost 365 days of sunshine, were woefully underdeveloped during the Gaddafi regime, although there was a sailing federation in […]
Prime Minister al-Jabali said he was honored when addressing the Sixth Turkey Sectoral Economic Council meeting held at the twin towers of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in Ankara. Both countries exchanged mutual appreciation and support and acknowledged to work together in widening it by increasing contacts to develop areas […]
Marrakech has become over the years the place to be to celebrate the Christmas season and New Year’s Eve for the world jet set and celebrities who find in the ochre city a heaven of peace, charm, entertainment and fun. This year is no exception as several celebrities have already arrived in the city or […]
With rumors surrounding the market claiming that some Egyptians have withdrawn their funds from banks out of concern they would be frozen by the authorities, Egypt’s central bank has taken steps to safeguard deposits in local and foreign currencies in Egyptian banks in response to the rumors. In a press release to address the situation, […]
Four issuers in Tunisia have been affected by a recent review exercise for new ratings. Fitch Ratings said it carried out the review due to a recent recalibration of the Tunisian National scale in a released statement. The recalibration of the Tunisian National scale follows Fitch Ratings downgrade of Tunisia’s sovereign rating and country ceiling […]
Moroccan authorities, the employers’ association, CGEM, trade unions and the social security fund, CNSS, have finally agreed to institute unemployment benefits to ease the strain of the global financial crisis that is sparing no country. The project to set up such an allowance was first tabled some 12 years ago but several obstacles have so […]
The Tunisian authorities are putting up for auction thousands of luxury items that were once owned by toppled dictator Zine El Abidine Ali and his family. They hope to raise at least 10 million euros to fund several development projects. The list of goods put on sale includes a pair of miniature gold sphinxes, a […]
World rating agency Standard & Poors has downgraded its long-term foreign- and local-currency sovereign credit ratings of Egypt to ‘B-‘ from ‘B’. It has also switched its outlook is negative, citing recent political developments that weakened Egypt’s institutions and the increasingly polarized political discourse that could undermine the effectiveness of policy-making. According to S&P, a […]