There will be presented next week the renovations and improvements planned for Pafos, in view of the role of European Capital of Culture that the city will take over in 2017.

Current projects are estimated at 8.3 million euros and include the upgrading works on the squares: October 28, Dionysios Solomos and Kosti Palama. In the first phase there are also included the work of the old town (Ktima) and Kennedy Plaza. Projects must adhere to a specific timetable, having to be completed by January 1, 2017.

Other works of upgrading, due out next month, providing for the expansion of the municipal market, with the reorganization of the interior spaces and the construction of an outdoor plaza.

There are late the work of the Tomb of the Kings road, one of the busiest streets of the city, which will be part of a ring road around the city. The project has an estimated cost of over 10 million euros already allocated by the Ministry of Public Works.


Source: medNews


In 2015 drug sales in Lebanon reached 1.63 billion dollars, registering a growth of 6.53% compared to 2014. This upward trend is confirmed by the medium-term forecasts, which indicate expenditure the drugs of 2.20 billion dollars in 2020.

Currently Lebanon ranks first among the countries of the region for pharmaceutical expenditure, which currently accounts for 3.15% of GDP, projected in 2020, it will account for 22.3%.

The original pharmaceutical products prescribed by doctors, unlike the generic, still dominate the market: in 2015, sales of prescription products reached 800 million dollars, or 49% of total sales. In 2020, this ratio to increase by two percentage points and reached 51%.

In 2015, spending on generics totaled 494 million dollars, representing 30% of total sales, while spending on OTC drugs amounted to 339 million dollars, or 21% of the total. By 2020, spending on generic drugs is expected to increase, up to 33% of total sales, while the counter products is expected a decline of 15%.

The hospital sector in Lebanon is dominated by private clinics, which represent 90% of the sector. lL spending from the national service, the NSSF, National Social Security Fund, in any case represent more than 51% of total health expenditure and is expected to rise in accordance with the market trend and remained around the same level.


Source: medNews


Tunisia has tried, with the national industrial strategy 2016, to leave the conventional sectors to move towards promising sectors with a high added value, in order to create jobs for graduates.

The sectors of the textile and agro-food industry, the mechanical, electrical and mechanical, ICTs have been identified as priority areas.

According to the Treaty of the Tunisian enterprise, developed by the Institute of Arab heads of companies, it is necessary to move up the range with more services in the product.

The best example is the textile industry, where the government, in collaboration with professionals, has launched a specific support program to tackle the anomalies, increase the added value and avoid direct competition from Chinese products.

This program consists of 70% public aid for all intangible actions. It is divided into four axes, including the technical, financial, marketing and expansion of the priority technology investment program benefits (ITP) to specific intangible investments.

The technical assistance is to strengthen the awareness and technical advice to 600 companies, in providing guarantees, technical assistance and coaching to optimize production and increase investments, as well as in assisting companies to switch from subcontracting to co-contracting and the finished product and the elaboration of quality plans within companies.


Source: medNews


In 2015 (provisional data) Spanish exports reached 250.241 million euros, showing a growth of 4% over the previous year. The development of imports, with a value of 274.415 million euro was more content with an increase of 3.3%.

In commodity exports ranking Spanish transport vehicles occupy the first position with a value of 37.929 million euro and an increase of 14.6% over the previous year. In second place rank the chemicals in the broadest sense, which reached 31.462 million euro (+5.3%). With equally positive trends are the equipment and components for vehicles, the third component of the ranking, which marked an increase of 6.8%, totaling 17.066 million euros.

As for imports, chemicals with 40.09 billion euro and a 8.2% increase, heads the ranking. Followed by fuels and lubricants which recorded a decrease of 29.8%, rising by 52.857 million euro in 2014 to the current 37.1 billion euro. In third place are the equipment and components for vehicles (24,438 million euros) which, together with transport vehicles (18,131 million euros), recorded very dynamic trends with growth rates of 9.2% and 33.6% respectively.

For countries, the main clients of Spain were in order France, Germany and Italy, followed by the United Kingdom and Portugal. In the ranking of the top five Spanish export markets, the Italian has marked an increase of 7.2%, totaling 18.669 million euro. The trend was also positive for the remaining four destinations.

In the classification of the main suppliers for individual countries, Germany (35,925 million euros), France (29,756 million euros) and China (23,623 million euros) occupy the top three positions with the strong performance and double-digit growth for Chinese products (+18, 5%) and Germany (+ 11%). Italy follows with a value of 17.312 million euro and an increase of 9.4%. positive rates for the United States of America, the fifth supplier, which marked an increase of 23.7% to 12.845 million euros.


Source: medNews


The international rating agency Moody’s confirmed the rating of Israel A1 with a stable outlook, the reports the business daily Globes.

Among the reasons for the judgment and there are economic flexibility and the effectiveness of government action that gave constant proof of attention than the public debt improvement. Moody’s adds that, with geopolitical more stable condition – the Arab-Israeli conflict, the volatility of the situation in Syria are a source of constant tension, the judgment would have been better. In the assessment there is called the irreplaceable role of contributing to the solidity economic of the country of high technology sector and the impact of this field on exports, thanks to its investments in human capital and activities of research and development. Among the negative notes there are concerns related to the permanent closure of the agreement on the natural gas sector whose slowdowns may be harbingers of disaffections by investors in this field.


Source: medNews


Lebanon has received loans for 372.67 million dollars from the Islamic Development Bank, aimed at infrastructure projects covering the entire country. The five loan agreements were signed by the President of the CDR, the Council for Development and Reconstruction, Nabil Jisr, and the President of the Islamic Development Bank Ahmad Mohamed Ali Al-Madani, at the headquarters of CDR in Beirut.

The first loan allocates 128 million dollars for a project to supply drinking water in Beirut and Mount Lebanon through the Yasseri dam. This project, which is co-financed by the World Bank, will provide in Beirut and Mount Lebanon 12 million cubic meters of water per year. The project also involves the construction of a power plant with a power of 12 MW and a station capable of treating 25,000 cubic meters of water per day.

The second loan, of 87.5 million dollars, is intended for a treatment center and water purification in the Ghadir area (North Lebanon), which should benefit more than 1.1 million people.

The third loan, which amounts to 60.97 million dollars and was intended to southern Lebanon, to supply the region with drinking water continuously and without interruption. Over 150,000 people can  have a benefits of this project once completed. The fifth project is valued 69.50 million dollars, involves the completion of a fast highway to the north of Tripoli.


Source: medNews


The Chinese energetics companies, after investing 1.7 billion dollars in a power plant in Yumurtalik, they did an offer for investment from 2 to 10 billion dollars, respectively in the areas of wind and solar Turkish, and an offer of 3 billion dollars for a power plant. The Minister of Energy and Natural Resources Berat Albayrak, during his recent visit to China, he has signed with the EMBA Electricity Production Co. Inc. an agreement for an investment in energy of 15 billion dollars. The EMBA Electricity Production

Co. Inc., founded by Destinations Bilgün, was purchased by China’s Shanghai Electric, which now holds the majority stake.

For the investments in progress, Bilgün said: “The our senior Chinese partner intends to invest in wind power plants, to ensure that they reach the power of 600 MW. The fee for this investment is almost 2 billion dollars. We are also interested in coal deposits in Karapinar district of Konya. We signed an agreement confidentiality with Electricity Generation Company (EUAs).”

Just one of Karapinar rise Energy Specialization Industry Zone. Bilgün has manifested a desire to build a plant solar power of 3,000 MW, to the value of 10 billion dollars. Finally, Bilgün said that among the purposes of the company’s to build a power station of the power of 2000 MW near Ambarli, where the government has a plant over the gas conversion. The offer made by EMBA Electrics Prodoction Co. Inc. plans to invest 2.5 billion dollars, but it could go up to 3 billion dollars.


Source: medNews


In January 2016, the Cyprus Industrial production increased by 6.4% over the same period in 2015. This growth has affected all categories with the exception of the administration and recycling of water, which resulted in slight decline.

On the base of the CYSTAT data (the Cypriot Statistical Institute), manufacturing output grew by 7.1%, and by 6.7% that of electricity. More significant is the increase in the extractive industries, which was 14%. Also in January, and always compared to 2015, water supply and recycling have recorded, in contrast, a decrease of 2.5%.

Despite these increases, industrial and Cypriot manufacturing output still remains below pre-crisis levels, about 30% less than the output recorded in 2010.


Source: medNews


The exchange of Montenegro with the rest of the world in February 2016 amounted to 253.6 million euro, a decrease of -1.2% compared to the same month of last year. Exports amounted to 38.6 million euro (-21.6%), while imports instead amounted to 215 million euro (+ 3.6%).

In the export structure the most represented products are ferrous metals (8.9 million euro), the steel and iron (3.5 million euro). For imports the most represented products are machinery and transport equipment that have reached a value of 48.2 million euro.

Serbia is the first customer in the country with 10.7 million euro. Hungary follows with 5.8 million euro and Germany with 2.8 million euro.

As for imports Montenegrin, Serbia continues to be the premier supplier of Montenegro, with imports amounted to 48.5 million. Followed by China with 22.7 million euro and Germany 18 million euro. Italy appears to be in fifth place in the Montenegrin exports for a turnover of 2.3 million euro and the fourth biggest source of imports with 16.2 million euro.


Source: medNews


The International Labour Organization (ILO) has allocated 14 million dollars to boost employment in Tunisia. This was announced by Guy Ryder, ILO Director-General speaking at a press conference at the end of the first phase of the national dialogue on employment. Speaking on the occasion of the works of the national dialogue Ryder said that this forum “can open new prospects for increasing employment in Tunisia”. Ryder then explained that a successful campaign in favor of employment should not be limited to reducing unemployment in general but also must strive to eliminate the various forms of precarious employment, informal and rural. In January, due to the delicate economic situation of the country there were violent clashes between young demonstrators asking for a job and security forces in Kasserine, one of the poorest areas of the country.


Source: medNews

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