During the first seven months of 2016, the top five customers of Algeria were Italy with 2.999 billion dollars (19.8% of total Algerian exports during this period), followed by Spain with 2.088 billion dollars (13,79%), France with 1.739 billion dollars (11.48%), the United States with 1.095 billion dollars (7.23%) and Canada with 994 billion dollars (6.56%). China remains the biggest supplier of Algeria with 4.808 billion dollars (17.76% of total imports between January and July 2016), followed by France with 3.049 billion dollars (11.26%), Italy with 2,854 billion (10.45%), Spain with 2.159 billion dollars (7.79%) and Germany with 1.538 billion dollars (5.68%).

(ITALPRESS/MNA).

Source: medNews

The Albanian Economy and Tourism Minister, Milva Ekonomi, also publishes statistics on the number of tourists who visited Albania in the period from June 1 to August 15. This was reported by the Albanian newspaper Gazeta Panorama. Through some posts on social media, Ekonomi said that over the same period of 2015, during the summer season the number of visitors had risen by over 24%. Through the two main border crossings with Kosovo, at Morine and Qafe Morina, they would enter respectively 40 and 42.5 percent more visitors; from the border with Montenegro, 38%, and from the ports of Vlora and Saranda in the south of the country the number of tourists arriving in Albania would have grown by 18%.

(ITALPRESS/MNA).

Source: medNews

The US group Nano PV Global has announced the upcoming launch of the construction of a new factory of solar panels in the industrial zone of Tangier. It is an investment of 2 billion dirhams (182 million euro), which will foster the creation of well 660 new jobs. Nano PV Global, which headquarters is located in New Jersey, was created in 2005 and specializes in the production of photovoltaic cells and panels of new generation (thin layer), in addition to the creation of own solar power plants true. Recently, in the Indian city of Chennai, Nano PV Global has built, in partnership with a local company, a factory panels and a solar power plant, with an output of 100 megawatts. The new factory in Morocco should allow the American company to seize the growing opportunities in the photovoltaic Moroccan market, as well as benefit from the logistical advantages of the port of Tangier, is heavily export oriented towards Europe. To underline that this new investment enhances Tangier industrial vocation in the fields of renewable energies, in consideration of the project of the German Siemens, who is installing a plant worth 100 million euro that will produce 650 wind towers per year.

(ITALPRESS/MNA).

Source: medNews

The Treasury announces that due to the strong demand for the stocks offered in the latest Malta Government Stock issuance, the subscription in the Malta Government Stock was closed on Tuesday 2nd August 2016 at 11.30am shortly after the amount of applications received from members of the public exceeded the amount on issue and the overallotment option.  In addition to the amount on issue, that is €100 million, the Treasury shall exercise its option to utilize the additional sum up to a maximum of €60 million such that the aggregate amount to be allocated will be increased up to a maximum amount of €160 million.
In this regard, the aggregate amount up to €160 million shall be allotted to the members of the public in terms of the Allotment Policy stipulated under Paragraph 4 of the Prospectus dated 22nd July 2016. The details of the allotment policy will be published by a Press Release and communicated on the Treasury’s website immediately after the vetting of applications for compliance with the provisions of the prospectus.
In view of the above, no further applications from the members of the public will be accepted and the auction which was scheduled to be held at noon on Monday 8th August 2016 is being cancelled as no volume is available for allocation under the auction/bid system. 
The Pharmacy of Your Choice unit won Malta’s Best Healthcare Entrepreneur of the Year 2016 Award in recognition of ‘Setting Organizational Standards for Excellence and Outstanding Achievement’.
The award recognises the accomplishments of the top local entrepreneurs for their positive contribution towards our country’s economic growth, for improving the country’s business community and acting as role models for tomorrow’s leaders. 
During these last three years, the POYC Unit secured exceptional achievements at both national and international landscapes with five top awards from the Foundation of Human Resource Development, the Equality Mark Certification from the National Commission Promotion for Equality, the 2016 runner-up in the National Enterprise Support Awards and the Silver Plate from the University of Malta for Services rendered to the Pharmacy Profession.
POYC has an instrumental role in achieving the very low levels of out-of-stock medicines in the community, thereby ensuring full accessibility to the 140,000 clients who are entitled to free medicines.
 
(ITALPRESS/MNA).

Source: medNews

The Malta Employers’ Association called for a political consensus concerning the operation of the Malta Freeport, one of the country’s major employers which has established Malta as a major logistical hub in the Mediterranean. The Malta Freeport has generated thousands of high value added jobs to Maltese people since it was established, and its future should not be subjected to uncertainty generated by political agendas. The Association stated that there should be constructive dialogue between the relevant stakeholders to seek ways to reconcile the operations and growth of the company with environmental objectives, without resorting to categorical statements that may harm the competitiveness of the company and the jobs of its employees.
(ITALPRESS/MNA).

Source: medNews

MALTA, international trade in June 2016 Provisional data for international trade show that the trade deficit in June stood at €241.6 million, down by €38.0 million when compared to the corresponding month in 2015. Both imports and exports decreased by €43.9 million and €5.8 million respectively (Table 1a).
The decrease in the value of imports was primarily due to mineral fuels, lubricants and related materials (€92.6 million), which was partly outweighed by an increase of €75.5 million in machinery and transport equipment. On the exports side mineral fuels, lubricants and related materials (€70.8 million) and machinery and transport equipment (€23.7 million) accounted for the main decrease. This was partly outweighed by an increase of €94.9 million in chemicals January-June 2016 During the fi rst six months this year, the trade defi cit widened by €136.9 million when compared to the corresponding period last year. Imports show an increase of €54.6 million, with exports decreasing by €82.3 million (Table 1a). Higher imports were mainly due to machinery and transport equipment, which increased by €308.3 million. This was partly outweighed by a decrease of €214.2 million in mineral fuels, lubricants and related materials. The decrease in the value of exports was mainly triggered by lower mineral fuels, lubricants and related materials (€279.1 million), machinery and transport equipment (€48.8 million) and miscellaneous manufactured articles (€41.1 million). This was partly outweighed by an increase of €303.1 million in chemicals.
Malta’s trade imports from the European Union reached €1,428.5 million, or 42.3 per cent of total imports. There was a decrease of €350.0 million in imports from euro area countries when compared to the same period last year. Main increases and decreases in imports were registered from the Caribbean and Bahamas Islands (€555.7 million) and the Netherlands (€226.6 million) respectively. On the export side the main increase was directed to the United States of America (€327.4 million), whereas Hong Kong (€56.3 million) registered the highest decrease.
(ITALPRESS/MNA).

Source: medNews

The Tunisian Ministry of Energy and Mines plans for oil production fell by up to 10% by year-end with a total volume of 2.14 million tons of oil equivalent (TOE), compared with 2.37 last year. In the first seven months of the year, oil production fell by 8.6%, or 9.48 million barrels, that of natural gas by 12.8%, by 1202, 5 million cubic meters. The reasons are due according to the same ministry stop of production for technical reasons, social and trade union movements of protest, or loss of productivity due to the natural regression of most of the mining sites. Emblematic with regard to social protests halted all production at the gas site “Chargui” to the Kerkennah islands, blocked from January 19 to April 6, 2016, and after a brief resumption of activities from April 22 until today.

(ITALPRESS/MNA).

Source: medNews

Minister for Finance, Edward Scicluna attended a meeting of the working group tasked with recommending a scheme which provides fiscal benefits for employers who set up a voluntary pension scheme at the place of work. The scheme was proposed in the Budget for 2016.

The working group is composed of Mario Grech as chairman, with Alfred Camilleri, Permanent Secretary Ministry for Finance, Mark Musu Permanent Secretary Ministry for Family and Social Solidarity, Marvin Gaerty, Commissioner for Revenue, Marisa Attard, Director Insurance at the Malta Financial Services Authority and Aaron Grech, Deputy Chair of the Malta Statistics Authority as members.

Once completed, the working group’s proposals will be discussed with the social partners at the Malta Council for Economic and Social Development and other interested parties.

(Photo credit: MFIN)

(ITALPRESS/MNA).

Source: medNews

A total of 166,607 inbound tourist trips were carried out for holiday purposes, while a further 14,207 were undertaken for business purposes. Inbound tourists from EU Member States went up by 7.2 per cent to 166,266 when compared to the corresponding month of 2015.

The largest proportion of inbound tourists was aged between 25 and 44, followed by those within the 45-64 age bracket .

Total nights spent went up by 8.6 per cent when compared to June 2015, amounting to 1,444,104 nights. The largest share of guest nights (60.5 per cent) was spent in collective accommodation establishments.

Total tourist expenditure was estimated at €169.5 million, an increase of 4.0 per cent over the corresponding month of 2015.

January-June 2016 Inbound tourist trips from January to June amounted to 829,850, an increase of 9.9 per cent over the same period in 2015. Total nights spent by inbound tourists went up by 8.6 per cent, surpassing 5.8 million nights .

Total tourism expenditure was estimated at €656.4 million, 5.7 per cent higher than that recorded for 2015. Total expenditure per capita stood at €791, a decrease of 3.7 per cent when compared to 2015.

(ITALPRESS/MNA).

Source: medNews

Minister for Foreign Affairs G. W. Vella  received the Minister of Foreign Affairs of Bosnia and Herzegovina Mr Igor Crnadak, for official talks. The two Ministers welcomed the positive bilateral relations that exist between Malta and Bosnia and Herzegovina, and discussed the possibility of furthering these ties through exploring ways of improving accessibility between the two countries with the view to develop tourism links in the future. 

Minister Vella underlined Malta’s continuing support for Bosnia and Herzegovina’s EU Perspective, and commended the progress that was achieved by the country this year on its path to EU accession, positively recalling Bosnia and Herzegovina’s bid for EU membership which was submitted in February 2016. He welcomed the cooperative spirit which was recently demonstrated by the three members of the Presidency, and expressed his hope that this unified approach will continue. 

Minister Crnadak thanked Minister Vella for Malta’s consistent support to his country’s EU aspirations. He gave an overview of the reforms taking place in Bosnia and Herzegovina, particularly those relating to the Reform Agenda, and the Government’s efforts to implement the Stabilization and Association Agreement. Minister Vella welcomed the positive developments, and the two Ministers agreed on the importance of such tangible reforms, particularly for the youth of Bosnia and Herzegovina.

The two Ministers discussed the ongoing challenges in the Mediterranean and the Balkans, particularly with regards to the issue of migration and radicalization. Minister Vella noted that during Malta’s Presidency of the Council of the EU, migration will be one of its key priorities and Malta will strive to keep this issue high on the EU agenda. The importance of political stabilization in the Western Balkan region was also emphasised by the two sides.

(Photo credit: MFA and DOI – Jason Borg)

(ITALPRESS/MNA).

Source: medNews