“I thank the European Union, which supports the legitimacy of our Council. This is a support to security”. Fayez Mustafa Al Sarraj, President of the Presidential Council and Prime Minister of the Government of the Libyan National Accord, said in his speech at the opening session of the High Level Conference on Migration Management in Brussels, which took place in the European Parliament.

“The issue of migration flows can not be addressed solely on the security level, it is necessary to support the countries of origin but also transit. I thank very much the Italian government and also the German government who are helping us with projects to support economic development, Al Sarraj said.

“Libya is a transit country, but it does not have the means to handle migratory flows, especially in the healthcare sector,” he said, explaining that the country’s situation is still “very vulnerable, especially in the South. The agreement with Italy on the control of migrants will be fundamental”.

(ITALPRESS/MNA).

Source: medNews

A fast-track bus project (BRT – Bus Rapid Transit) between Beirut and Tabarja, financed by the World Bank, is slowly moving through Parliament. The implementation of a 24-mile long road linking Charles Helou station was approved on June 9 by the Parliamentary Committee on Public Works, Transport and Water, but implementation time may still be long. “The project must be approved by the Council of Ministers and then by Parliament in plenary session before being run by the Council for Development and Reconstruction (CDR), which will be responsible for managing the contract,” the chairman of the committee Parliamentarian, MP Mohamed Kabbani, explained. This project is in the drawer since 2015, when the World Bank began discussions with the Lebanese government on a loan worth a total of 250 million to develop public transport. This amount will allow to build a fast lane for buses in the middle of the Beirut – Tabarja highway, with stops and pedestrian bridges every kilometer to allow passengers to access buses and parking lots. Part of the sum, estimated to range between $ 65 and $ 70 million, is supposed to be devoted to the development of a Greater Beirut bus network, with the purchase of new vehicles and the construction of new bus stops. 

This project should be examined separately in committee over the next few weeks. “The funding will be published by the World Bank after Parliament’s vote around January or February 2018”, according to transport specialist Ziad Nakat. But until then, the government must plan the future of the current transport system based on many private operators. “Obviously we have to take into account the reality of the current public transport system, but we must also think about the future and the need to provide quality service to citizens,” he concluded.

(ITALPRESS/MNA).

Source: medNews

The European Energy Secretariat Forum was recently held in Athens, during which Greece, Albania, Montenegro, Serbia and Italy agreed to be part of the pilot projects that will enable the creation of the regional common energy market.

The European Energy Secretariat has called on the Balkan countries to intensify their efforts to align the legal base, including the process of quality of service and tariff setting for distribution system operators.

(ITALPRESS/MNA).

Source: medNews

The Chamber of Commerce and Industry of Slovenia (GZS) reiterated its support for the Magna International multinational project to build a new facility near Maribor. This decision follows the collection of signatures in support of the planned investment, recently launched by GZS itself. During the round table dedicated to the project in question, in Maribor, Vice-President of Magna Europa, Dieter Althaus, confirmed the interest of his company for the project, bearing in mind that Slovenia was the first choice for this investment. Delo reports that the manager has avoided commenting on delays in obtaining environmental permits, indicating, however the end of 2018 as deadline for the start of production. Over the past few weeks, several criticisms have been raised on the project, especially for the environmental impact of the plant.

(ITALPRESS/MNA).

Source: medNews

In an attempt to revitalize its economy and create new jobs, Egypt seeks to take advantage of its strategic position between Africa, Asia and Europe. In this respect, the Suez Canal Economic Zone, which connects the Red Sea to the Mediterranean, aims at making the area as an industrial and logistics hub. The Financial Times reports it. With this, Egypt hopes to attract foreign investors and provide logistical services such as bunkering and transhipment of some of the 17,000 ships crossing the Canal every year.

“The Suez Canal’s economic zone will benefit from the reforms undertaken to secure a loan from the International Monetary Fund, including the liberalization, resulting in devaluation of the Egyptian lira, which has made the country very appealing to foreign investors. In an effort to avoid bureaucratic problems and attract investment, the area has emerged as an independent entity able to register companies and issue permits with minimal delays, a free zone that allows for repatriation of revenues.

Works are now underway to expand and develop the ports in the area, so as to handle larger ships and operations such as transhipment, while tunnels are dug below the canal to improve the connection between its two shores. Officials report that 23m sqm have already been leased for $ 15 billion worth investments to be made over the next five years. Customers include Siemens, General Electric, Asec-Capital Alliance, which includes major Saudi, Emirate, Egyptian and Lebanese companies.

The Suez Canal economic zone is in talks with a consortium comprising Toyota, the Japanese transport group NYK and Bollore, the French transport and logistics company for a roll-on / roll-off terminal at East of Port Said, which is part of the area. There are also negotiations with the Port of Singapore and the French CMA CGM transport group for a container terminal at East of Port Said. The Channel Economic Zone also hopes to create medium and light industries capable of generating jobs, such as the textile and pharmaceutical industries. 
(ITALPRESS).

Source: medNews

Turkey’s annual consumer price inflation stood at 11.72 percent in May, easing off from the 8-year high that it hit a month earlier at 11.87 percent. The annual rate is still far from the Central Bank’s 5 percent target. Consumer prices rose 0.45 percent in May from the previous month, data from the Turkish Statistics Institute (TÜ?K) showed. 

The highest monthly increase was 5.9 percent in clothing and footwear, according to TÜK data. The highest annual increase was 21.7 percent in alcoholic beverages and tobacco. Food and non-alcoholic beverages followed it with 16.9 percent and transportation with 15.8 percent. Producer prices rose 15.26 percent year-on-year in May, and were up 0.52 percent month-on-month, the data showed. 
(ITALPRESS).

Source: medNews

Figures released by ArabNet, a digital content-focused research firm, show that investment funds in the Middle East and North Africa region (MENA) have led to 37 technology investment start-ups in Lebanon for a total of $ 56 million in 2016. In addition, Lebanon attracted 31 investments totaling $ 30 million in 2015, 21 offers totaling $ 26 million in 2014 and 11 investments totaling $ 7 million Dollars in 2013. Lebanon has attracted 17% of the number of investments in technology start-ups in the MENA region in 2016. This figure was 15.4% in 2015, 10.1% in 2014 and 7.8% in 2013.

Lebanon has attracted the second highest number of technology start-ups in the 14 MENA countries in 2016. It ranked third in 2015 and fifth in 2013 and 2014. In addition, Lebanon has attracted the second highest investment value in the MENA region in 2016 and 2015, while it attracted the fourth in 2014 and the fifth in 2013. ArabNet has indicated that it has examined six venture capital funds (VCs), five companies, two seed funds, two funds VCs in growth, two angel investors’ networks and an accelerating fund in Lebanon.

At the same time, funds from the MENA region invested a total of $ 119 million in technology start-ups in Lebanon between 2013 and 2016. The number of investments in Lebanese technology start-ups was the fourth highest one, among the 14 countries MENA, behind the UAE (234), Jordan (118 transactions) and Egypt (101 investments) in the covered period. In addition, the amount of investment in Lebanese technology start-ups was the third highest in the MENA region for the period 2013-2016, behind the UAE ($ 1.1 billion) and Egypt ($ 251 million) .

Lastly, the number of investments in Lebanon accounted for 13% of total investments in the 14 MENA markets between 2013 and 2016, while the value of investments in Lebanon accounted for 6.9% of total equity investments during the period covered. ArabNet said that Lebanon’s Intermediate Circular 331, issued by the Central Bank of Lebanon, supported the VC’s business in the country. The results are based on data collected by 75 investors and accelerators in Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Palestine, Saudi Arabia, Tunisia and the UAE.
(ITALPRESS).

Source: medNews

Children from different tennis schools across the country joined the fun for the first stage of the Kinder+Sport tournament hosted last weekend by the Malta Tennis Federation at the Marsa Sports Cub with the support of Kinder Ferrero. Kinder+Sport project is aimed at instilling core values such as trust, integration, friendship and respect in the future generation. The tournament saw over 30 participants placed in groups according to their age which ranged between U10- category to U16. This made the tournament a success as most the matches were balanced and played in culture of healthy competition and fair play. The matches were unique as they were played without umpires with the young players having the possibility to enjoy themselves and give their very best guided by a highly educational fair play code. The Kinder+Sport international circuit forms part of an international circuit with similar tournaments being held in Austria, Bulgaria, Germany, Italy, Israel Luxembourg, Monaco, Hungry and Malta, before a final tournament held in Rome to determine the overall winners.  The winners of each category were chosen to represent Malta in the International Masters in Rome between the 20th and 25th August. “The Kinder+Sport Tournament in Malta has been a resounding success,” Robert Tarpey, coordinator of the programme, said. “To see such levels of enthusiasm from everyone involved is encouraging. Through Kinder Ferrero and Italian Tennis Federation we are able to continue enjoying this eagerness of children to play the game”. The second stage of the Malta Kinder+Sport Tournament will be held between July 3 and July 9 at the Pembroke Tennis Club. On may obtain more details by sending an email on info”maltatennisfederation.com or visit the Federation website (www.maltatennisfederation.com).
(ITALPRESS/MNA).

Source: medNews

The Maltese Prime Minister Joseph Muscat triumphed once again with a landslide victory with a majority of more than 34,000 votes as in yesterday’s general election held in Malta he was reconfirmed to lead the country for the next five year electoral mandate  at the detriment of the opposition Nationalist leader,  Simon Busuttil.

The Labour Party gained 54.9 percent of the votes against the PN led National Coalition that included the Democratic Party founded by former Labour MP Marlene Farrugia who had resigned from the Labour parliamentary group on charges of corruption against the government achieved 43.8 per cent.

In his first reaction, Prime Minister Joseph Muscat declared: “It is clear that the Maltese people have chosen positivity against negativity. People have chosen to stay the course. The people voted for Malta”.

The Leader of the Opposition Nationalist Simon Busuttil conceded the defeat in a tweet message: “I have just called Joseph Muscat to concede. As always we respect the decision of the electorate”.

The Maltese Prime Minister replied to the tweet by thanking Busuttil and wishing him well.

In yesterday’s general election 92% of eligible voters totalling around 340,000 cast their votes.

The convincing victory for Muscat came despite the Panama Papers scandal, where it was alleged that the Prime Minister’s wife owes a secret company in Panama and confirmation that two other companies are registered on behalf of Konrad Mizzi, Minister within the Prime Minister’s office and Keith Schembri, Chief of Staff to Joseph Muscat.

Joseph Muscat called an early general election because of these allegations and ordered an independent magisterial to investigate the accusations that his wife owes the secret company registered in Panama.

(ITALPRESS/MNA).

Source: medNews

As widely predicted, the Bank of Israel will leave the interest rate unchanged at 0.1% for the 26th consecutive month. The economic newspaper Globes announces it. The Monetary Committee of the Central Bank links the decision to the expectations of an increase of the annual inflation rate, albeit always below the planned inflation rate between 1 and 3%.

These are linked, on the one hand, to a nominal increase in wages and robust economic activity, on the other hand to the appreciation of the shekel, to the acceleration of economic competition and to the measures taken by the government in fiscal policy.

In spite of the fact that the result of the first quarter growth has halved to 1.4%, export and investment indicators are positive. Only private consumption slows down and the labor market continues to be close to full employment.

As far as the world economy is concerned, the Bank underlines a steady trend of growth with a tendency to improvement also due to a decreasing political risk in Europe.

From the point of view of monetary policy, the US interest rate may rise in June, while Europe and Japan will continue to resort to soft policies.

(ITALPRESS/MNA).

Source: medNews