The Urban planning committee of Haifa approved a new project of residential and commercial reorganization and extension of Haifa. The news is disseminated by the economic newspaper Globes. 

Objective of the project – to be completed by 2025 – is to host 330,000 residents, 55,000 more than the current figure, to build a new business centre downtown and one for the occupation of Haifa Bay, the construction and restoration of public buildings, schools and tourism, entertainment and residential buildings.

On this particular subject, projects have been already submitted to increase the residential offer, and are currently under examination on in the phase of approval: for instance, a project for 4500 new houses in the new south gate of Haifa, and one for 2000 houses in Gurel Hill.

With reference to green areas, the plan foresees the creation of a new park in an area that is now under concession to the Israel Ports Company.

Furthermore, the port area should be re-qualified in order to ensure an easay access to pedestrians and a connection with the German Colony, the neighbourhood close to one of the most visited attractions of Haifa, the Bahai Mausoleum.

Even the littoral should be reorganized because the current road setup, with an expressway, impedes to use its full potential.  

(ITALPRESS/MNA).

Source: medNews

According to the last preliminary report published by the Central Bank of Montenegro, the total flow of Foreign Direct Investments in the period January – August 2016 was EUR 483.9 million, while in the same period the out-flow was EUR 264.2 million.

Net FDIs amount to EUR 219.7. The outflow, in the form of investments by residents in abroad operations amounted to EUR 14 million, while the dividends payments in Montenegro was about EUR 250 million. Investments in capital amounted to EUR 176.5 million (36.5% of the total FDIs). Of this sum, EUR 71.8 million were invested in real estate transactions, and EUR 104.7 million in companies and banks. The inflow in the form of inter-company debt was EUR 118.5 million, corresponding to 24.5% of the total.

(ITALPRESS/MNA).

Source: medNews

The Albanian government reached an agreement with the International Monetary Fund for the 2017 budget law. Albania and IMF have a 3-year program that obliges Albanian authorities to plan its fiscal and macro-economic policies with the agreement of the IMF, in return for a financial support of over EUR 340 million to be given in 9 instalments, of which 8 have already been issued. In order to get the green light by the experts who have now been in mission to Albania for two weeks, the government had to promise “a satisfactory solution for the problem of the payment of the arrears”, that is the debts that public institutions make towards companies for the failed payment of services. According to Anita Tuladhar, Chief of the IMF mission, “the government committed to take the necessary measures to deal with the problem”.

(ITALPRESS/MNA).

Source: medNews

After almost one year of political instability, Spain finally formed a government. Mariano Rajoy – who got the confidence vote ot Chamber of Deputies with simple majority of votes – appointed, last 3 November, the ministers members of his Cabinet. The choice made by the Spanish Prime Minister provides signals of continuity on economic matters. In fact, Luis de Guindos keeps his place as Minister of Economy and adds Industry to his portfolio. Similarly, Cristobal Montoro will continue to lead the Ministry of Finance and Fátima Báñez keeps her position as Minister of Labour and Social Security.

These three ministries will face some of the main challenges that the country will have to deal with in the coming months. First and foremost, the preparation of the budget law for 2017, which will have to merge economic incentives and the reduction of the public deficit, in accordance with what agreed upon in the framework of the EU.

Another topic that cannot be postponed any longer is the pensions that, due to the significant aging of the population, risks not to be sustainable anymore, should the funding system stay unchanged.

Furthermore, the necessity to create stable and quality jobs, in order to reduce unemployment, especially for the youth, is not to be forgotten. In addition to these requests, many others come from the business sector, among which an industrial policy in favour of competitiveness and innovation, more instruments to the internationalization of enterprises and reforms oriented to a digitalization of the economy. With reference to the latter, the creation of a new Ministry that, under the leadership of the new Minister – Alvaro Nadal – assumes competences for energy, tourism and digital agenda was welcomed.

(ITALPRESS/MNA).

Source: medNews

The agri-food sector grew by 11% annually, according to the second report “Investment opportunities in the agri-food sector 2016” published by the Investment Development Authority in Lebanon (IDAL).

The sector has an estimated work force of 21,000 units, which represent the highest part of the industrial sector. 

Bread- and pastry-making products account for about 23% of the agri-food sector. Pastry-making sector follows with 22%, dairy food 16%, starch-based food 8% and alcoholic beverages 7%.

Agri-food export grew by 25% in the last four years, reaching USD 550 million last year. Bread- and pastry-making account for about 18% of the exports, followed by dairy products, fruit and vegetables, oils and alcoholic beverages.

Some 65% of agri-food products was exported to Arab countries, while 23% was exported to European countries.

According to IDAL, there are major opportunities in five sectors: olive oil, dairy products, nuts and dried fruit, wine, and transformed food products. Wine has an estimated market size of USD 41 million, which includes 40 wine companies. Some 32% of wine was exported to Great Britain, 17% to France and 14% to the United States.

(ITALPRESS/MNA).

Source: medNews

Following maintenance works, last Saturday the electro-nuclear power station of Krško has been connected to the national electric grid and that, since then, it has been working regularly. The interruption lasted since 1 October, and maintenance works (which included also the replacement of some parts) costed about EUR 20 million.

(ITALPRESS/MNA).

Source: medNews

In view of the forthcoming COP22 in Marrakech, from 7 to 18 November, Tunisia is working to a new energy plan based on low carbon emissions.

The announcement comes directly from the Ministry of Energy of Tunisia, Hela Sheikrouhou. In recent years, Tunisia made major improvements from the economic point of view, focusing the efforts on the capacity to attract investments and it understood the role that energy efficiency can play in this period. Currently, Tunisia uses twice the amount of energy set by OSCE in order to produce dinars 1 of GDP. The COP22 is the best moment to present to the entire world their low carbon emissions projects. Minister Sheikrouhou commented in this way the announcement of the new plan: “Within two weeks we will start preparing the first investment plan in renewable energy. A long list of projects will be announced shortly on the autonomous production of renewable energy by the private sector, increasing the activities of the Tunisian operator for electricity and gas. The plan will cost about EUR 815 million”.

“Tunisia is working for a low carbon emissions system and for an economy resistant to climate change, and it offers great investments opportunities in energy efficiency, in renewable energy, in the fight against climate change that impacts agriculture and water resources”. “Increasing energy efficiency – Sheikrouhou said – allows to facilitate energy subsidies and to re-allocate these resources in other priority sectors, such us schooling and health”.

(ITALPRESS/MNA).

Source: medNews

Divergent opinions between the Israeli Public Comptroller and the Israeli Post on the level of upgrade of the international posting system. While, on the one hand, the public authority notices some inefficiency, on the other hand the Post claims the progress made in the last two years. This is what the economic newspaper Globes refers today. 

Israeli Post representatives argue that the study, whose findings seem not to be satisfactory, was carried out in 2015, a period in which the company was undergoing a major reorganization plan with new management that gave strategic development importance to the on-line market.

This strategy led to an increase of the delivery facilities from 700 to 1000 planned, longer opening hours of the post offices, a more efficient customer service, the possibility of having home service, apps and tracking services.

With this strategy, the Israeli Post are getting ready to satisfy a constantly growing demand of on-line services, which involves Israel as any other mature economy.

(ITALPRESS/MNA).

Source: medNews

The first biogas power station in the capital of Montenegro for the production of electricity from waste, that is, from the biogas accumulated in the landfill of the municipality of Podgorica, is expected to be activated by the end of 2017. The power station, part of which has already been built, will cost EUR 2 million in total, and will be managed by a public-private partnership. The director of the Deponija landfill said to the local press that a tender for a feasibility and economic sustainability study will be issued soon.

(ITALPRESS/MNA).

Source: medNews

The United Nations High Commissioner for Refugees (UNHCR) expressed “great concern” about the high number of refugees and migrants in 2016 WHO have lost their lives crossing the Mediterranean. To date, despite still missing two months to the end of the year, there are at least 3,740 dead and missing – a little less than 3,771 recorded in 2015, so far the deadliest year. A “tragic outcome” is detected despite the sharp overall decline in the number of people who have crossed the Mediterranean to reach Europe.

“Decrement” apparent if it is true that only yesterday, 24th October, the Italian Coast Guard has rescued 2,200 migrants in the central Mediterranean, in 21 different rescue operations (18 rafts and 3 small boats).

According to UNHCR data, there are about 327,800 refugees and migrants who undertook the dangerous crossing, compared to 1,015,078 recorded in 2015. Since the beginning of 2016, one person in every 88 who attempted the crossing has lost life, a figure up sharply compared to 1 person every 269 last year. In the central Mediterranean this figure is even higher, with one death every 47 arrivals.

There are many causes of this increase, in the opinion of UNHCR, : about half of those who cross the Mediterranean are headed to Italy and embark from North Africa, a notoriously dangerous route.

Traffickers are also using increasingly poor quality vessels, including fragile rafts that often do not stand up to the entire duration of the trip. The cause of several accidents appear to be bad weather, but also the tactics of traffickers are changing in many cases have occurred mass departures of thousands of people simultaneously. This may be due to the fact that human trafficking is shifting towards new modes or perception that the risks linked to the crossing are lower than before, which makes the work more difficult rescuers.

“Facing this situation, while ensuring asylum systems functioning, it remains a political challenge for many countries, but measures to save lives are” points out that UNHCR calls on all countries “to do more in this regard. Strengthening access to regular routes to ensure safety of refugees has become a more urgent priority and this must be realized through actions such as the strengthening of the resettlement and humanitarian admission, family reunification, private sponsorship, and the granting of visas to refugees for humanitarian reasons, study and work. “

The high mortality rate also points out “the importance of continuous and intense search and rescue action, without which the number of casualties would certainly be higher,” concluded UNHCR and thanked “governments and private entities that every day and often in difficult conditions, contribute to this important life-saving work”.

(ITALPRESS/MNA).

Source: medNews