Leonardo-Finmeccanica announced that an industrial and trade partnership agreement was signed with the Algerian Ministry of National Defence on August 11th.

The agreement foresees the establishment of a joint company to produce light and medium weight category helicopters at an industrial site in Aïn Arnat. After the completion of the facility and during the early years of activity, the joint company aims to manufacture three different AgustaWestland helicopter types for various uses including transport, medical evacuation, surveillance and control.  

The joint company will also benefit from a local and international distribution network and aftersales services including a range of repair and overhaul capabilities and training solutions for the Algerian Ministry of National Defence and other customers. The industrial programme will also support the development of high technology capabilities in the field of aeronautical material production.

(ITALPRESS/MNA).

Source: medNews

The Tel Aviv metropolitan area, better known as the Gush Dan region, continues to live a season of development linked to the industry of high-tech, research centers of large multinational corporations and capital inflows collected by venture local and international capitalists. This increases the rate of attractiveness of the Region, however, making it the busiest hub of the country.

As planned by the Authorities and reported by the Ynet news website, by 2026 should begin work on the construction of a new underground system that interconnects all quadrants of the Region. The first estimates of the budget required are around NIS 140 billion, or about 35 billion euros.

In this regard the company NTA, manager and operator of the construction of the subway lines in Tel Aviv, has published this week a call to involve large international company in order to draw up a feasibility plan for the construction of 3 new lines in three lines, the north-south, the east to the sea and the ring that you should connect to the red line, already under construction, and the purple and green line (at an advanced stage of planning).

(ITALPRESS).

Source: medNews

The Durres Port Authority data reveal that in the period from January to August of this year, 625,348 passengers were recorded in the largest port in Albania. A higher figure of 12% over the same period last year. The main destinations were the ports of Bari, Ancona and Trieste (Italy). According to statistics, the ferries carried out in eight months a total of 717 trips (30 trips more than in January-August 2015). The ships transported about 500 thousand tons of cargo, about 1% more than in the same period last year.

(ITALPRESS/MNA).

Source: medNews

The Algerian government will soon adopt new restrictions on imports. The object of the measures should be produced between 1700 and the 2000. In practice, the measures will be implemented through the banking system: the Algerian banks will in fact have the task of prohibiting banking domiciliation for the import of the products included in the “blacklist”. There will also start a study to evaluate the benefits and consequences of such an initiative on currency reserves. According to the latest financial reports published by the Central Bank of Algeria, foreign exchange reserves fell stabilizing at 144.13 billion dollars at the end of December 2015 compared to 159.03 billion dollars at the end of June 2015 and 178.94 billion dollars at the end of December 2014.

(ITALPRESS/MNA).

Source: medNews

The consolidated fund deficit decreased by €33.8 million between January and July 2016 when compared with the same period last year as Government expenditure increased by just €1.3million or 0.1 per cent while recurrent revenue increased by €35.1 million or 1.9 per cent.

Recurrent revenue grew as a result of robust economic growth, with revenue from taxes increasing by €148.4million over the same period when compared to 2015.

The remarkable increase in net revenue was achieved in spite of the significant fall in EU grants reflecting the closure of the European Union financing period 2007-2013 at the end of last year. Reductions in the EU grant component is being balanced by lower EU funded capital expenditure. In fact, capital expenditure for the first seven months was €90.6 million lower than the peak of the previous year.

Minister for Finance, Prof. Edward Scicluna remarked that “It is encouraging to note that the first half of the year the deficit is being held in check. We will now have to ensure that this positive financial performance is continued to be kept throughout the whole year”.

(ITALPRESS/MNA).

Source: medNews

The European Commission announced that it has approved Malta’s scheme to support large scale renewable energy installations. The intent of the Maltese Government’s proposed scheme, as part of the energy roadmap, was primarily for photovoltaic installations with a capacity of at least 1MWp, and may apply to wind farms in possession of a development approval.  

The scheme has been assessed by the European Commission and found compatible with the 2014 guidelines on state aid for environmental protection and energy in view of its beneficial impact on the environment and minimal distortion of the market. The maximum budget to be allocated between 2016 and 2020 will be around €140 million. This would be paid in the form of a premium above the market price of electricity over the 20 year guaranteed support period.   

Currently, over 80MWp photovoltaic capacity have already been installed in Malta.

The new scheme is essential for Malta to develop clean energy and is expected to provide support for at least 55% of the remaining 110MWp Photovoltaic capacity which still needs to be developed by 2020. Smaller systems shall continue to be supported through existing feed-in tariff schemes and grants.

Support shall be allocated through a competitive process whereby prospective project developers will be able to submit a sealed bid for a support level corresponding to a specific capacity. Different ceilings shall apply depending on the installation type. However, all submissions will ultimately compete together. This will ensure that the most cost effective sites are developed first.  

This scheme shall be complimented by the Solar Farm Policy which will determine suitable sites for the development of large scale photovoltaic systems and minimize the impact on the landscape.

Minister Konrad Mizzi welcomed the green light received from the European Commission and highlighted that this will incentivise significant investment by the private sector in green energy. He also highlighted that, over the last three years, the Government turned around the renewable sector and is now committed to sustain the momentum for further reducing emissions.

(ITALPRESS/MNA).

Source: medNews

Minister for Foreign Affairs George W. Vella received the High Commissioner Designate of the UK Stuart William Gill, Ambassador-Designate for the People’s Republic of China Jiang Jiang, Ambassador-Designate for Uruguay Gaston Lasarte, and Ambassador-Designate for Iraq Ahmad Bamarni.

Welcoming the new British High Commissioner Stuart William Gill to Malta, Minister Vella referred to the historically good relations between Malta and the UK, as well as the Commonwealth Heads of Government Meeting held in Malta last year, and Her Majesty’s and other Royal Family members’ visit. Minister Vella noted that Brexit would feature prominently during Malta’s Presidency of the Council of the European Union during the first six months of 2017. Malta is already contemplating the approach to be taken in this respect and will strive to see excellent relations evolving between the EU and the UK. Minister Vella also noted that tourism from the UK is booming. Further to this, Minister Vella thanked the United Kingdom for attaching an expert to Malta during its upcoming Presidency. Meanwhile, the High Commissioner stressed the continuity in relations between the two countries and assured the Minister that he would strive to further develop relations between the UK and Malta.

Minister Vella also held a meeting with the Ambassador-Designate of China Jiang Jiang. Minister Vella began by expressing satisfaction with the excellent relations shared by the two countries, underlining their special relationship as one which is highly dynamic and beneficial. The Minister outlined the importance of continued cooperation on trade and other sectors, and referred to Malta’s involvement in China’s 21st Maritime Silk Road Project and its founding member status of the Asian Infrastructure Investment Bank. The Minister also underlined the importance of further cooperation between the EU and China, and that Malta will continue to promote the intensification of these relations. Ambassador Jiang Jiang conveyed his admiration at how the relationship between the two countries has developed, and stated that both countries have coordinated closely on international issues and cultivated strong relations. The Ambassador expressed his commitment to the strengthening of relations between China and Malta.

During his meeting with the Ambassador-Designate of Uruguay Gaston Lasarte, the Minister outlined the need to explore possible areas of cooperation in order to further strengthen the relations between Malta and Uruguay, particularly in the trade, culture, education and maritime sectors. On his part, Ambassador Lasarte expressed his commitment to deepen the relations between the two countries. Discussions were also held on the EU’s relations with the Community of Latin America and Caribbean (CELAC) and the Southern Common Market (MERCOSUR), as well as the challenges currently being faced in Latin America. 

The Minister also received the Ambassador-Designate of Iraq Ahmad Bamrani. In recalling the long-standing bilateral relations with Iraq, the Minister referred to developments on the ground and the need to counter terrorism in the country. Minister Vella expressed his hope that the progressive efforts being undertaken to ensure the liberation of Mosul would result in a turning point that would bring hope and motivation to the Iraqi people. Discussions also touched upon the reforms being undertaken in Iraq in order to restore stability to the country and the region, as well as the dire humanitarian situation in Iraq.  Both sides also referred to the relations between the EU and the League of Arab States, and the Minister underlined the important role of the European Commission-League of Arab State Liaison Office (ECLASLO) based in Malta in this regard.

(ITALPRESS/MNA).

Source: medNews

After four months the acquisition of the company ‘e-business buy 2, one of the main economic and trade groups Israel, Azrieli Group Ltd, has launched a new app to make the shopping experience in its shopping mall easier and focus on buying habits and needs of consumers.

This was reported by the business newspaper Globes that also indicates the investment figure of 2 million NIS (approximately 470,000 Euros).

Azrieli app, this is the name of this new tool, will increase the loyalty factor of the consumer compared to the Azrieli shopping centers, distinguishing name and highlighting the specificity of the businesses within them, also with a view competition and erosion of market share compared to Melisron, another among the principal actors of the distribution in the country.

The new function of the app is the interaction with the e-commerce website of the group will replace the website ‘buy 2’, to complete the maturation phase, will represent a kind of electronic wallet with which to order and pay for goods, be advised regarding discounts and promotions, make restaurant reservations, buy tour packages and even taking steps to hire cars when the consumer enters the commercial centers of the group.

The quantitative target of the Azrieli Group is 100,000 downloads, in a moment when no other mall offers the same service.

(ITALPRESS/MNA).

Source: medNews

According to the Algerian National Centre Algerian Statistics (CNIS), the value of imports of pharmaceutical products amounted to $ 1.14 billion during the first seven months of 2016, increased by 10% over the same period of 2015 ($ 1.03 billion). Quantities imported fell by 1.68% stabilized at 14 643.2 tons compared to 14 892.7 in the two periods compared. By category products, the value of medicines for human use was 1.07 billion compared to approximately $ 984 million to same period of 2015 (+ 9.6%), while the imported quantities are spent 13 157.4 tons compared to 13,546 tons at same period of 2015 (-2.87%). The imports of medicines to

Veterinary reached about 18.5 million dollars (410.6 tons) compared to 18.54 million dollars (442.4 tons) the same period of 2015, a decrease of 0.27% in value and by 7.2% in quantities. The costs of imports of pharmaceutical products totaled 45.65 million dollars (1075.2 tons) compared to $ 34.57 million (904.3 tons) in 2015, up of 32,04% in value and 19% in quantity. As part of rationalization of imports of medicines, a decree Ministerial, published in December 2015, he had set a list pharmaceuticals for human use as well as medical equipment manufactured in Algeria prohibited import.

(ITALPRESS/MNA).

Source: medNews

The countdown for Cybertech Europe started. It will held in Rome on September 29 at the Palazzo dei Congressi in EUR.

Cybertech Europe, organized in collaboration with Leonardo, will be the global platform for dialogue on cyber issues, investment, technology and security solutions for decision makers, start-up, representatives from Italian and European institutions.

The Conference will be also the occasion for the presentation of industries from around the world and the famous Cybertech Start up Pavillion in which dozens of startups present the news of the sector.

Cybertecn Europe is the last born in the family of the most important Cybertech event which is held annually in Tel Aviv in January. For quality of the interlocutors and news of the market is a unique platform with the Rome edition further expands its range.

(ITALPRESS/MNA).

Source: medNews