ENERGY
AND MINING
Sonatrach Ups Stakes in Medgaz Pipeline Project
After BP and Total Relinquished Theirs
After relinquishing its 12% stake in the Medgaz pipeline
project to link Algeria with Spain, BP is said to be refocusing
its core activity in Algeria to oil and gas exploration.
The 12% stake sale reportedly brought in $5 million, but
according to the Algerian press, company spokesperson Vahid
Fotuhi was quoted saying the company will spend in Algeria
$300 million on exploration over the next years.
[read
here]
ECONOMY AND TRADE
Tunisia-Libya to Liberalize their Trade Flow
Tunisians
and Libyans have been working to strengthen their commercial
ties. Their recent efforts to create a stronger commercial
framework occurred recently when their joint bilateral commission
met in Tripoli. These efforts will have major implications
upon their implementation next year, in particular for the
hundreds of Tunisian companies already active in Libya and
for the existing flow of trade between the two countries,
estimated at more than $600 million just for the Tunisian
in 2006. This trade value should be increased by the non-tabulated
unofficial exports and other spending of Libyans within Tunisia
for purposes such as medical treatment. About 1.5 million
Libyans traveled to Tunisia in 2006 for health-related treatment.
[read
here]
INDUSTRIES
AND MARKETS
Growing Use of Erectile Dysfunction Medicines
in Morocco
Despite
the taboo nature of sexuality, the consumption of medicines
treating erectile dysfunction is on the rise in Morocco. Cialis
of Eli Lilly and Levitra of Bayer are currently competing
against the long-established Viagra, which entered the Moroccan
market in May 1998, two months after its introduction into
the U.S. market by Pfizer.
[read
here]
INDUSTRIES AND MARKETS
Tunisia's Shoe Industry Faces Asian Competition
and Poor Internal Workings
The
shoe industry in Tunisia, a component of the leather sector,
is relatively large. It grew as a result of a liberalization
law enacted in 1972 to attract foreign shoemakers through
a solid incentive plan. Today the industry comprises of 440
companies, with half focused entirely on the export market.
More than 31,000 Tunisians are employed in shoe manufacturing,
with nearly 23,000 working for the export focused enterprises.
In all, the industry generates €600 million to €700
million in value annually, with more than €400 million
in form of export revenues.
[read
here]
ECONOMY
Algeria: 2007 Economic Outlook Summary
There
is a great deal of anticipation among the Algerians as regards
to improvements in their living standards in 2007. This anticipation
is the result of the $60-to-$100 billion foreign currency
reserves the country earned amid strong oil and gas prices.
It is also in 2007 that state employees and the retired community
will see their wages and payments increase based on the outcome
of the 2006 bargaining negotiations that involved government,
labor and employers.
[read
here]
CORPORATE
AFFAIRS
Corporate Profile: BCP
CP
is the central body of Crédit Populaire du Maroc (CPM), Morocco’s
leading banking group with a market share of 29.8% in deposits
and 22.7% in loans at the end of October 2006. As a result
of the various initiatives the bank has embarked upon in recent
years, particularly its organizational overhaul and the launch
of its ‘Business Project’, all its business units performed
well in the first half 2006. The bank has now begun a more
aggressive pursuit of improved profitability and performance.
[read
here]
ENERGY
AND MINING
Talks with Cheniere Could Open US Market to
Algerian LNG
Contacts
undertaken between Sonatrach and American oil firm Cheniere
Energy are expected to lead to a partnership allowing the
Algerian company to expand into the US market, through a joint
exploitation of gasification terminals, according to industry
sources in Algiers. The expected agreement between Sonatrach
and Cheniere would be the first of its kind and an important
competitive gain for Sonatrach. Sonatrach has been focusing
on partnership deals to get shares in gasification harbors,
to directly market Algerian gas in US markets.
[read
here]
