First Independent Mena Newspaper
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 […]
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 […]
The European Investment Bank (EIB) has dedicated 270 million Euros to help Tunisia boost employment among young people, diversify the private sector, and develop infrastructure in the poorest regions in a statement from the bank. The loans were finalized by the bank in two different contracts. The first contract was concluded between the European Investment […]
The Egyptian state oil firm has issued a tender to purchase around 500,000 tons of gasoil for delivery into Mediterranean ports between January and March next year according to a tender document. The tender is for 15 cargoes to be delivered in Alexandria, Egypt’s second largest city and El Dekheila. Bidding ends on the 18th […]
Libya has offered its neighboring country, Tunisia, a financing assistance to promote its development. Considered as a duty by Chief Mohamed Magarief of the Libyan General National Congress, the 98 million Euros development assistance package also manifests the bond between the two countries. Libya believes that they are confronted with the same challenges as they […]
The minister responsible for investment has voiced out that the country’s actual economic situation might force the government to ask for a precautionary standby credit line worth $2.5 billion from the International Monetary Fund. He said they not completely ruling out the idea because they need the sum in order to give assurances to their […]
Egypt’s economy might be heading for the worst as the board of the International Monetary Fund (IMF) meets in a few weeks to consider almost a $5 billion financing agreement amidst political crisis in the country. The board will be requiring that there is no major change in economic outlook or policy when it makes […]
Egypt and Tunisia will shortly recover the assets that were frozen under sanctions decreed by the European Union against their former presidents Hosni Mubarak and Zine El Abidine Ben Ali, who were both toppled in Arab Spring uprisings. The Council of the European Union announced Monday that the EU took steps to facilitate the return […]
Reports are being featured that the Fitch Ratings Maghreb, the branch of the rating agency overseeing the region, is winding up its activities in Tunisia and will be closing its doors in the country by the end of the year. It seems as if the decision is prompted by the ongoing global financial crises with […]
The decision of the regulator of the Egyptian market to push further the deadline of the sale of stakes of Qatar National Bank (QNB) has led to the slump of Egypt’s National Société Générale Bank (NSGB) and it has made an impact on the Cairo bourse while leaving the Gulf markets mixed in lackluster trading. […]