News

ALFANO-MAITIG "RELAUNCH ECONOMIC COOPERATION"

On the occasion of the first Italo-Libyan Economic Forum held in Agrigento, Foreign Minister Angelino Alfano and Vice President of the Libyan National Presidential Council of the Libyan National Accord Government, Ahmed Maitig, signed a joint statement on the revival of economic cooperation between Italian and Libyan governments.

The declaration confirms “the common will to strengthen friendship and cooperation in areas of economic and social development and, in particular, to support Libya’s reconstruction efforts”. It reaffirms “the willingness to promote further economic and trade cooperation between public and private actors”. It also underlines the importance of Libya’s economic development and the increasing capacity of the Libyan institutions to provide adequate services and to increase their level of well-being.

The parties underline that “bilateral economic cooperation must be focused on strategic sectors such as energy and hydrocarbons, infrastructure and transport, telecommunications, banking and finance and private sector development”.

Italy and Libya reaffirm “the desire to continue cooperation in the field of airport infrastructure, their maintenance and cooperation in the field of air transport, given the importance of restoring air links throughout Libya as well as flights Directing with Italy to contribute to the revival of the economic system”.

The two sides also welcomed the “reactivation of the Italian-Libyan Commission on the continuation of the implementation of the Libyan Coastal Motorway project in accordance with the 2008 Friendship Treaty”.

Finally, Italy and Libya agree on “the importance of fostering the development of communications links through the reconstruction of Libyan telecommunications networks, the laying of new cables and the upgrading of the existing ones, benefiting from the presence of an important hub ‘In Sicily as the hub of Mediterranean Internet traffic’.

 

(ITALPRESS/MNA).


Source: medNews

MIGRANTS, COLEIRO PRECA: "LOW SOLIDARITY EU"

“We must admit that there are great problems with immigration, which is due to a shortage of solidarity among our nations. If the 28 countries had total solidarity with each other, we will solve this problem”. The President of the Republic of Malta, Marie-Luise Coleiro Preca, said at the Women’s Forum Rome 2017. “The Mediterranean countries were the first to be affected by the phenomenon of immigration. We all have to try to understand why people abandon their country risks life – he says – we must understand that most migrants crossing the sea do so for safety, travel to save their lives because their regions are plagued by wars, many flee from poverty, many from persecution “.

(ITALPRESS/MNA).


Source: medNews

TERMINAL 1 OF "BEN GURION" AIRPORT IN TEL AVIV REOPENS

Terminal 1 of the Tel Aviv International Airport, David Ben Gurion, reopened its doors last Monday. The economic newspaper Globes reports the news.

The airport will serve only low-cost international airlines and security and control services will all be carried out at the new facility; passengers will no longer go at Terminal 3 as in the past.

Estimated annual traffic is 1.4 million passengers with 33 scheduled daily flights.

The old terminal, called Wilhelma Airport or Terminal 1 because when it was built, in 1937, it was actually the only international arrival airport to visit Jerusalem, was restored after the founding of the State of Israel and decorated with images of Ben Gurion and Menachem Begin.

Today, modernized, it is equipped with a sophisticated luggage control system, costing 60 million shekels (about 15 million euros) and a larger and better control area for hand luggage.

Among the companies that will use the new facility, there are 3 Israeli airlines (Up – low cost of El Al -, Arkia and Israir). Easyjet (the leading carrier in Israel) will have a big share with Ryanair, Wizzair, Pegasus and others.

According to Ben Gurion’s General Manager, the traffic of the first Israeli airport has tripled over the past three years mainly due to the Open Skies Agreement (which was also the base of the increase in the duty free shop business volume, with the revenue of which the restructuring of the Terminal was funded).

Whele in 2009 transit passengers amounted to 9 million,for 2018 a total volume of 20 million passengers is estimated.

(ITALPRESS/MNA).


Source: medNews

AL SARRAJ "NO MEANS TO HANDLE MIGRATOR FLOWS"

“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

LEBANON, FAST BUS PROJECT BETWEEN BEIRUT AND TABARJA

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

ALBANIA PART OF THE REGIONAL ENERGY PROJECT

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

SLOVENIA, SUPPORT TO THE PROJECT MAGNA INTERNATIONAL

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

EGYPT AIMS AT MAKING PROFIT FROM ITS WATER COURSES

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 INFLATION EASES TO 11.7% IN MAY

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

LEBANON, 56 MILLION DOLLARS FOR TECHNICAL START UP

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

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