The European Union is interested in the exploitation of natural gas on fields located in the eastern region of the Mediterranean Sea. And for this purpose which has granted 2 million Euros to Cyprus for a feasibility plan for the construction of a pipeline from Cyprus to continental Europe. This was reported by the business newspaper Globes according to the Cypriot media reports.

According to a spokesman for the European Union, the natural gas fields in the eastern Mediterranean are a contribution to the Europe, established in the region and energy security of the countries in addition to the opportunity, to diversify its providers gas.

Israel and Cyprus, the countries in whose economic zones are important natural gas fields, are particularly interested in this project, which should fall under the category of PCI – Projects of Common Interest.

The European contribution will serve to finance the necessary preliminary feasibility test technique in addition to calculating the cost-effectiveness of the project in general. Only after this test, the European The Union will decide whether to contribute to the financing of the construction of the pipeline.

(ITALPRESS/MNA).

Source: medNews

The Slovenian Minister of Economic Development, Zdravko Pocivalšek, received on  Tuesday the Minister of Economy and Tourism of Qatar, Ahmed Bin Jassim Al Thani, on a visit along with a business delegation. Particular attention was dedicated to investment, especially in tourism, health care and education. Guest attended later the first session of the joint commission for economic and technical cooperation between Slovenia and Qatar which presided together with the Slovenian Foreign Minister, Karl Erjavec. Al Thani was also received separately by the Slovenian President Borut Pahor.

(ITALPRESS/MNA).

Source: medNews

According to the European Commission, the Cypriot economy will grow again this year, by 1.7%, confirming the positive trend of 2015, which saw 1,6% growth. For 2017 forecasts of growth are 2%.

The acceleration of growth should have a positive impact on the labor market, where the unemployment rate is expected to fall, from 13.4% in 2016 to 12.4% in 2017.

Consumer prices have continued to decline, by 0.7% this year, as it still marks an improvement compared to minus 1.5% in 2015. Public debt is expected to stabilize this year at the same level as last year, around 109%, and then begin to fall in 2017.

Also according to the European Commission, the deficit will increase next years, to 4.2% in 2016 and 4.6% in 2017. Last year, the deficit had fallen to 3.5%.

(ITALPRESS/MNA).

Source: medNews

The President of the Chamber of Commerce Industry and Agriculture of Beirut urged the approval of a new law that limits to 10% foreign staff employed in Lebanese society, to protect the local workforce.

Lebanon does not have a law in this regard, but only the provisions relating to the use of foreign personnel.

These limitations are required in response to the continuous increase in the unemployment rate among young Lebanese, with over 30,000 graduates entering the labor market every year, while the national economy provides only 4,000 or less job opportunities and to a deterioration in economic conditions.

(ITALPRESS/MNA).

Source: medNews

The Wilaya (Province) of Boumerdès (North-East of Algiers) has great fish resources waiting for a program of improvement. The annual production of fish varies between 6000 and 8000 tonnes. Boumerdès also has three fishing ports located in the areas Zemmouri, Cap Djinet and Dellys. According to the local Department of Fisheries and Fish Resources (DPRH), the local fishing fleet includes 493 units of different types for 4436 registered fishermen. However, the seamen are having problems due to the saturation of the ports. In addition to numerous extension projects that are under construction, it is expected to create a zone of activity in Zemmouri (is approximately 50 Km to North-East of Algiers) that will be dedicated to the fishing and water-culture.

(ITALPRESS/MNA).

Source: medNews

Alitalia has signed a Memorandum of Understanding with the board of directors of Air Malta and the Government of Malta to complete a comprehensive due diligence with the possible intention of becoming a 49% shareholder in the Maltese airline. Once the due diligence is complete, the Boards of Alitalia and Air Malta will make a decision on whether to proceed with an undertaking.

“There are strong cultural and commercial bonds between Italy and Malta, and this MOU is a first and important step, but we will only make a decision once we have completed an exhaustive examination of a possible deal – Alitalia’s CEO Cramer Ball said -. We will need to establish unequivocally that a deal with Air Malta will not undermine the progress of our three year turnaround programme, or prejudice our financial position. Until then, it’s business as usual. We are on track to become a profitable entity by 2017 and we need to look and plan for the future, which is why we have decided to look closely to see whether Air Malta can fit into our strategic growth, particularly how our networks can complement each other in areas such as southern Italy. The future of the commercial aviation industry has to be one of consolidation, and for us to prosper we must examine opportunities where we believe we can offer a wider reach for our customers”.

Zammit Lewis, Malta Minister of Tourism said: “This is one step of the process and there is still a long way to go. We have now signed an MOU with Alitalia which means we will cease talks with other airlines and start detailed discussions”.

(ITALPRESS/MNA).

Source: medNews

The society Desert Technologies, Saudi partners of Enerray, subsidiary of Seci Energia (Maccaferri Industrial Group), has completed the construction and operation of two power plants with renewable sources.

The plants, built in the city of Aqaba, with 40,320 solar panels that can generate 250 watts of energy each with an annual production of 20 million kw annually, have a capacity of 10 MW.

The project is part of the 12 projects managed by the Jordanian Ministry of Energy and Mineral Resources (MEMR) and supported by a twenty-year agreement for the purchase of electricity, with the National Electrical Power Company (NEPCO), which will ensure the purchase of electricity at a preferential rate of 12 Fils per Kwh, equivalent to 0.17 dollar per kWh.

In addition, the society Desert Technologies is building another photovoltaic system in the Jordanian city Ma’an located 200 km from the capital, the new photovoltaic system will have a capacity of 23 MW, with a total estimated investment of 50 million dollars, will provide clean electricity to 30,000 homes and will provide an important stimulus to the local economy of southern Jordan.

It will include the completion of the construction work at the end of April 2016.

(ITALPRESS).

Source: medNews

“The RAMOGE Agreement is an example of the now historic environmental cooperation between states. It is a reference and starting point: we must have the strength and political capacity to extend it to all the countries of the Mediterranean. Because the defense of the our sea, a fragile sea and extraordinary for biodiversity, must see us all united.” So Environment Minister Gian Luca Galletti, in Monte Carlo for the fortieth anniversary of the signing RAMOGE, which provides for cooperation and synergy between Italy, France and the Principality of Monaco for the prevention and the fight marine pollution and the protection of ecosystems in areas between Provence, Alpes, Côte d’Azur, Principality of Monaco and Liguria. Prince Albert of Monaco attended the ceremony.

“We have to look at RAMOGE – Galletti added – for what it represents and how it opens for the future. What happened with the oil spill in Genoa – the minister said – it was another example of the risk which our undergo coasts and our sea; another example of the importance of a control system and intervention able to act with the highest rapid adoption of the best and most up to date technologies, with a fast and effective coordination between units of different countries. And, in this regard, we thank France for having arranged means ready which fortunately are not served”.

The minister also recalled “the great work of the Coast Guard, as a direct expression of the functional and operational Ministry Environment on the marine ecosystem, which participates exercise RAMOGE with vessels and aircraft”. Together the Coast Guard, which is responsible exclusively in the field National coordination and technical management of interventions to the fight against pollution, will participate tomorrow in the annual antipollution international exercise French media and Monaco, for a test of the degree of readiness bench in the event of emergency.

(ITALPRESS/MNA).

Source: medNews

The IDAL, the Investment Development Authority of Lebanon, offers again, after three years of suspension, the incentives for projects of Information Technology sector. These incentives provide exemptions for income tax and the taxation of dividends for a period of ten years.

The termination of the grant of incentives was due to an error in the list of eligible activities for the purposes of the benefit, attached to Ministerial Decree which provided them. In April 2016, the Council of Ministers, by the Decree of 3158, approved a new list of IT assets that can benefit from tax incentives gives from IDAL.

The activities for which incentives may be required are: the publication of software and computer programming, provision of infrastructure for the processing of data such as web hosting, streaming services and hosting applications. Also Internet service providers are targeted.

The IDAL grants tax incentives for various sectors: agro-industrial, manufacturing, tourism, agriculture, communications and media. In the last 15 years they have benefited from the incentives of IDAL. projects with a total value of over 1.7 billion dollars.

(ITALPRESS).

Source: medNews

The second edition of the Valletta Film Festival (VFF), organized by the Film Grain Foundation, will take place between the 3 and 11 June 2016. Over forty international films will have their Maltese premieres, in various open-air venues around Valletta.

VFF will include more films of various sections, more events and a new sidebar section entitled ‘Teens Only’, showcasing films for teenagers from the ages of 13-18,” Oliver Mallia, one of the directors of the Festival said.

The others section will be Without Borders (focusing on the cinema of Israel, Palestine, Iraq, Saudi Arabia, Lebanon, Egypt and Iran) and Islanders (celebrating the cinema from and about islands, taking us around the world via the many waters of the earth).

Seven feature films, seven documentaries and 26 short films will be competing for the Triton Awards in Best Film, Best Director, Best Screenplay, Best Cinematography, Best Actor and Actress, Best Documentary and Best Short Film. The awards ceremony will take place on Saturday 11th June at Fort St Elmo.

VFF will also include Masterclasses on ‘Directing Actors’ and ‘Writing the Short Film’, as well as the Conference of Small Nations, which are supported by the Malta Film Commission.

(ITALPRESS/MNA).

Source: medNews