Thursday, August 16, 2018

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    According to data from the Agency for Promotion of Industry and Innovation (APII), investment reported in the industrial sector reached the amount of 1,962.2 MD during the first six months of 2018, compared to 1,995.9 MD during the same period of 2017, posting a decrease of 1.7%.

    The number of reported projects reached 2,155 in the first six months of 2018 compared with 2,027 in the first six months of 2017, up 6.3%. These projects will create 32,895 jobs, compared to 32,350 jobs in the first six months of 2017, up 1.7%.

    In the month of June alone, the reported investment in the industrial sector reached the amount of 375.9 MD, against 172.4 MD in the month of June 2017, posting a growth of 118%.

    The number of projects reported reached 249 in June 2018 compared to 233 in June 2017, i.e. an increase of 6.9%.

    These projects will create 5233 job positions, compared to 3396 job positions in June 2017, up 54.1%.

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      The food trade balance recorded a surplus of 182.7 MD during the month of July 2018, against a deficit of 754.8 MD during the same period of the previous year, which helped to increase the coverage rate to 106.1%

      According to the latest statistics published by the National Observatory of Agriculture (ONAGRI), on its electronic site, food exports have registered an increase of 72.6% in terms of value while imports have risen by 15.2%.

      On the basis of the same statistics, the surplus is the result of the increase in the value of exports, in particular those of olive oil by 200.4%, tomatoes by 38.3% and fishery products 29.9%.

      Imports include durum wheat (532.2 thousand tons), common wheat (729.7 thousand tons), barley (329.5 thousand tons), and wheat (16.4 thousand tons) and milk and its derivatives (11.3 thousand tons).

      In terms of value, the rise in imports is due to higher purchases, including meat by 176.5%, milk and derivatives 63.7%, barley 51.4% and durum wheat by 26.8%, according to ONAGRI.

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        Investments related to projects costing more than 5 MD increased by 23.6% from 1078.6 MD during the first six months of 2017 to 1333.4 MD during the same period of 2018.” This is what emerged from the latest figures released by the Agency for Promotion of Industry and Innovation (APII).

        These projects will create 8827 job positions, compared to 8675 jobs in the first six months of 2017, up 1.8%.

        Projects of 5 MDs or more, which represent only 4.7% of the number of projects reported and 26.8% of the number of jobs, account for 68% of all reported investments.

        According to the same figures, the investments reported as part of the creation projects went up from 812.4 MD during the first six months of 2017 to 1,078.8 MD during the same period of the year 2018, posting an increase of 32.8%.

        The number of this type of projects increased by 27.2% from 1,381 to 1,757 during the first six months of 2018, and the jobs to be created grew by 18.6% with 22,604 jobs compared to 19,054 during the first six months of 2017.

        In addition, investments reported under projects other than creation (extension, renewal of equipment, etc.) reached 883.4 MD against 1,183.6 MD during the first six months of 2017, i.e. a decrease of 25.4%.

        The number of these projects decreased by 38.4% from 646 to 398 during the first six months of 2018, and related jobs fell by 22.6% with 10,291 jobs compared to 13,296 in the first six months. 2017.

        Reported investment in the fully exporting industries rose by 55.7% from 404.9MD to 630.2MD in the first six months of 2018.

        Industries that are oriented towards the local market have seen a 16.3% decrease from 1,591 MD to 1,332 MD during the first six months of 2018.

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          Egypt and Tunisia have agreed to strengthen bilateral trade relations and remove all obstacles to trade and joint investment.

          Tunis and Cairo intend to develop their common commercial relations for the benefit of both countries.

          The agreement was reached on the sidelines of the meeting of the Egyptian-Tunisian Trade and Industry Commission recently headed by Egyptian Trade Minister Amr Nassar and his Tunisian counterpart Omar Behi.

          Trade in both countries has increased to US $ 214 million year-over-year in the first half of this year.

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          For the third year running, Facebook is sponsoring the annual Facebook Challenge as part of the Student Category at The Loerie Awards 2018 – Africa and the Middle East’s premier award that recognises, rewards, inspires and fosters creative excellence in the advertising and brand communication industry. During Loeries Creative Week, Facebook and Instagram will also host a series of workshops, hackathons and activations for the creative community – including advertising students – and a special event for women in marketing.

          For this year’s student challenge, Facebook partnered with the International Federation of Red Cross to provide a creative brief on helping to tackle the cholera crisis on the continent. Students from across Middle East and Africa were challenged to create an impactful mobile-first campaign for Facebook and Instagram that educates at-risk communities around preventing the spread of the disease. Facebook’s Creative Shop team also provided ongoing support to students entering the category, tutoring and mentoring them in understanding how to create ‘thumb-stopping’ mobile content that grabbed the users eye.

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          Despite the economic and financial conditions that hit the country hard, the Tunis Stock Exchange continues to make good figures drawn by banks and financial institutions that account for 52% of the market capitalization.

          According to the latest indicators of the Tunis Stock Exchange, as of July 31, 2018, the volume of trading on the stock exchange has reached about 1,067 million dinars against 794 million dinars for the same period 2017, i.e. a sharp increase of 34.4%.

          The financial sector representing 52% of market capitalization, accounted for the largest share of the market, with 40.6% of the total volume, up 78% over the same period in 2017.

          It should be noted that this performance is mainly attributable to the banking sector, which has increased trade volume by 73%.

          In second place is the consumer goods sector, accounting for 31% of market capitalization, with a 35.4% share of the overall market volume and a 39.3% increase in trade volume compared to the same period in 2017.

          For the other sectors, representing 17% of the market capitalization, four sectors posted an increase in their trading volumes: they are the telecommunications (+ 251.8%) and oil and gas (+ 75.1%) sectors), consumer services (+ 9.5%) and basic materials (+ 1.1%); against three declining sectors, namely health (-32.9%), industries (-29.4%), technology (-4.3%).

          Tunisian investors represent the main players in the market with a share that hovers around 70%, followed by foreign investors and UCITS.

          Indeed, over the period January-July 2018, the share of Tunisian investors in purchases reached 72.7% against 75.6% for the same period 2017, while on the sales side their share was down from 66% to 62.1%. The share of foreign investors in purchases increased from 9.1% to 12.7%.

          By moving in the same direction, the share of foreigners in sales has reached about 25% in 2018 against 18.5% in 2017.

          The share of UCITS grew slightly during both periods. In fact, their shares in purchases and sales went from 12.9% to 12.1% and from 13.3% to 11.6% respectively.

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            Sokotra Capital, a Dubai firm set up by former UBS Group AG banker Albert Momdjian, led a consortium of investors in acquiring fish-farm L’Aquaculture Tunisienne for an undisclosed amount.

            The company, based in Sousse, Tunisia, is the largest seabass and seabream hatchery and nursery in North Africa, with a current annual production capacity of 20 million fingerlings and 1,500 tons of fish per year, the two companies said in a statement last week-end.

            The deal builds on Sokotra’s investments in the agriculture and aquaculture sectors, and the firm said it plans to pursue more such investments in Africa and South East Asia.

            It will also seek to expand L’Aquaculture Tunisienne’s business in North Africa, gradually extending it to the Mediterranean basin.

            “It is all about efficiency and about feeding our growing population,” Momdjian said. “The protein race has already started and we are very well positioned as a firm and as a team to benefit from it.”

            Sokotra was founded in 2014 by Momdjian after more than 20 years in banking, including working for institutions like Credit Agricole SA and HSBC Holdings Plc. Before setting up the investment firm, Momdjian was the head of UBS’s ultra-high net worth business for its wealthiest clients in the Middle East and Africa.

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              Industrial production has decreased by 1.8% in the first five months of 2018, compared to the same period of last year, the National Institute of Statistics (INS) announced Monday, August 6, 2018.

              This decrease is explained by the decline in production in the chemical industry (-13.9%) following the fall in the production of phosphate derivatives, the manufacturing sector of other non-metal mineral products (-5.2%), the petroleum refining sector (-50.7%) and the non-energy extraction sector (-23.8%) due to the decline observed in gross phosphate production (1.2 million tons in the first five months of 2018 compared to 2 million tons in the same period in 2017) and the energy extraction sector (-4.2% ) resulting from lower crude oil and natural gas production.

              On the other hand, industrial production went up 10.8% in the agri-food sector, following the increase in olive oil production and the mechanical and electrical industry sector by 9% and the clothing and leather textile industry sector by 0.9%.

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                For the first time this year, the inflation rate fell to 7.5% in July against 7.8% in the month of June, the National Institute of Statistics (INS) said Monday.

                This decrease is mainly explained by a deceleration of the rate of price growth between the months of June and July of this year (+ 0.5%) and the same period of last year (+ 0.9%), where the price of tobacco rose sharply in July 2017 (+ 13.1%) against stability in 2018.

                Deceleration of rising food prices

                In July 2018, food prices rose by 8.3% year-on-year, compared to 8.6% the previous month. This increase is explained by rise in fruit prices by 19.9%, meat prices by 14.3%, fish by 9.5%, food oils by 7.6% and milk derivatives, cheese and eggs by 7.4%.

                Increase in transport prices

                Year-over-year, transportation group prices grew by 11.0% due to vehicle price increases by 13.7%, vehicle utilization expenses by 11.3% and transportation services by 8%.

                Higher prices for various goods and services

                On a year-over-year basis, prices for miscellaneous goods and services increased 11.1% as personal care prices rose 11.6%, insurance 9.3% and financial services 7.5%.

                Core Inflation and Inflation of Administered Products

                The core inflation rate (excluding non-food and drink and non-energy) is 7.3%. Free product prices went up by 8.5% compared to 3.9% for administered prices. Free food products grew by 9.5% against 2.1% for administered products.

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                  NAIB Bank Tunisia (North Africa International Bank) has just published its financial statements for the year ended December 31, 2017. These statements show a net profit of $ 2.8 million against $ 4 million dollars a year earlier, i.e. a decrease of 30%.

                  At the end of December, the bank’s operating revenues posted a 7.3% increase to $ 7.4 million, compared to $ 6.9 million in 2016. As for operating expenses, they went from $ 615,343 to $ 748,768, up 21.7%.

                  To this end, net banking income rose by 6% to reach $ 6.7 million against 6.3 million at the end of December 2016.

                  In addition, personnel costs virtually stagnated in 2017 to reach $ 3.8 million, representing 57% of the bank’s net banking income.

                  The Bank was created in Tunis in November 1984 as an offshore banking unit, with an authorized share capital of $ 30 million also subscribed between the two Tunisian and Libyan states.

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