Archive for May 2011

Algerians spend 211 mln dollars on coffee per year   1 comment

Algerians consumed 119.4 thousand tons of coffee (or 2.5 billion litters) in 2010, with an import bill of $211 million.

According to the World Trade Centre, Algerians are ranked 33 in the world in terms of coffee consumption per individual, and second in the Arab region after Lebanese.
National Statistics Centre’s figures show that the North African nation’s coffee import bill hit 305 million dollars in 2008, before dropping in 2010 to 211 million dollars.
Imports of the first three month of 2011 reached 34 million tons, spending yet 17.3 million dollars.
Algeria imports all varieties of coffee. Cote d’Ivoire is the first coffee supplier to Algeria, followed by Vietnam, Indonesia, Brazil, Tanzania, Guinea and finally India.

Source : echouroukonline.com

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Posted May 12, 2011 by newworldconsulting in Uncategorized

Gas Natural ready to pay $2 billion to Sonatrach   Leave a comment

Spain’s Gas Natural Thursday announced that it was ready to pay $1.97 billion to Algeria’s energy group Sonatrach to solve the commercial conflict which goes back to 2007.

  • In 2007, the Spanish company rejected Sonatrach’s decision to raise gas price by 20 percent. Algeria asked the company for compensation for the delay in achieving Gassi Touil project in the south.
  • The International Court of Arbitration approved Sonatrach’s right in raising the price of gas exported to Spain since 2007. That will oblige the Spanish company to pay about $2 billion.
  • Gas Natural’s CEO Rafael Villaseca Thursday said he expects that a solution would be reached to resolve the conflict with Israel in the second trimester.
  • Gas Natural gets the third of its gas needs from Algeria by virtue of long-term contracts valid until 2021.
  • Gas Natural’s withdraw from the Gassi Touil project was a painful blow to the trust relationship between Algeria and Spain. The Algerian government asked Gas Natural to respect its commitments, pay its taxes, compensate Sonatrach and bear possible losses.
  • The Spanish company was supposed to pay delay tax estimated at $4 million per month. Yet, Spain started putting strong pressures on Sonatrach and preventing it from marketing gas in a direct way in the Spanish market. It limited Sonatrach’s share in the market by one billion cube metres per year.
  • Algeria’s natural gas losses in 2000- 2004 are estimated at $14-18 billion.
Source: echouroukonline.com

Posted May 12, 2011 by newworldconsulting in Uncategorized

Algeria’s 2011 Complementary Finance Act: New measures to preserve purchasing power   Leave a comment

Algeria’s 2011 Complementary Finance Act proposes incentives to create small and medium-sized companies and the expansion of consumption products price subsidy.

  • Those measures aim at preserving purchasing power. The cabinet decided customs tax and value-added tax exemption on raw vegetable oil, white and brown sugar imports.
  • The measures also suggest supporting small companies and creating new jobs for 65 to 80 percent people in northern Algeria and 72 to 90 percent in high lands and the south.
  • The incentives also include the creation of a gradual tax for small enterprises created as part of the National Agency for Young People Employment (ANSEJ), the Caisse Nationale d’Assurance Chômage (CNAC) and the Agence Nationale de Gestion du Microcrédit (ANGEM).
  • The small companies will benefit from 70 percent tax reduction in the first year, 50 percent in the second year and 25 percent in the third year.
  • The measures stipulate the creation of a gradual tax for new activities to eliminate unofficial market. The activities will be benefit from tax exemption during the first two years, 70 percent tax reduction for the third year, 50 percent for the fourth year and 25 percent for the fifth year.
  • The tax privileges also touch the ANGEM.
  • The Finance Act is expected to be presented to the People’s National Assembly (APN) for approbation.
Source: Echoroukonline/APS

Posted May 12, 2011 by newworldconsulting in Uncategorized

Tunisia Tunisia: Mega projects to be carried through   Leave a comment

Developers of large-scale projects, such as the “Tunis Financial Harbour,” “Sports City,” “Sama Dubai” and the Swiss bio-mass fuel project, in Tataouine, voiced in a correspondence to the Planning and International Co-operation Ministry readiness to carry through their planned investments in Tunisia, after suspension due to the January 14, 2011 Revolution.

Planning and International Co-operation Minister Abdelhamid Triki said, during a news conference held on Wednesday in Tunis, that the Ministry set up a commission made up of the different concerned Ministries State Property, Transport and Equipment, Finance, Justice, etc. to study again these files.

The commission is also to be tasked with identifying means that would ensure the completion of these projects.

The Tunisian Government had concluded with foreign investors deals providing for the achievement of such mega projects as the Tunis Financial Harbour, whose cost is estimated at 5 billion dinars, and the Tunis Sports City project, by the “Boukhater Emirates” group, in the Tunis northern lake shore, and the Swiss bio-mass fuel project in Tataouine (acacia planting, financing and exporting wood), worth 900 million euros.

Mr. Triki pointed out that some projects have been suspended due to volatility of the business environment and lack of visibility for some investors.

Source: tap.info.tn

Posted May 12, 2011 by newworldconsulting in Uncategorized

Algeria:Transport minister considers port project in country’s centre   Leave a comment

12/05/5011 : ALGIERS- Transport Minister Amar Tou on Thursday said the building of a new port was under examination to relieve pressure on the ports of Bejaia, Tenes and Algiers.

The minister mentioned the project while answering an MPs’ question, at the People’s National Assembly (lower house of Parliament), about the possibility to transform the Port of Algiers into a marina due to the increase in commercial activity there. The new facility project is to be carried out between Bejaia and Tenes, Tou said.

Source: aps.dz

Posted May 12, 2011 by newworldconsulting in Uncategorized

Construction works of the High Plateaux Highway to be launched during the first half of 2012   Leave a comment

4/05/2011: The construction works of the High Plateaux Highway, linking Tlemcen (540 km west of Algiers) to Tebessa (630 km east of Algiers) and whose construction will be entrusted primarily to domestic companies, will be launched during the first half of 2012, Ammar Ghoul Minister of Public Works announced Thursday.

During a plenary session of the Council of Nation devoted to oral questions, the minister said that after the preparation of studies for this project (1,020 km) works will be launched, for the section linking Tiaret (340 km west Algiers) to the Algerian-Tunisian border on 800 km, during the first half of 2012, while those relating to the section Tlemcen-Algeria-Morocco border will begin during the second half of the year.

Source: algeriabusinessinfo.com

Posted May 4, 2011 by newworldconsulting in Uncategorized

Bank of Algeria (BEA) launches the 1st agency with International Cards   1 comment

3/04/2011 : External Bank of Algeria (BEA) opens its first agency in Algiers that provides free service here on Monday.

General-Manger Mohamed Loukal and senior official from the Ministry of Finance inaugurated BEA’s agency.

The agency provides a free service and all services of traditional agencies like payment, requests of check, coupon of banking identity and voucher account.

Until now, the only free service granted by the Bank of Algeria is the automatic distributor, which allows getting money or access to bank credit.

The free service of this agency is open 24 hours a day and seven days a week. It has an automatic distributor and automatic teller which grant all the services and banking operations.

The agency’s internal place equipped with special machines for free service for filing private funds and get large amounts of money with a prior notice and the provision of card services for international loans.

For the first time in Algeria’s history, the agency launches the services of Master Credit Card, Visa Card and American Express, which were marketed at the level of commercial cells, especially large hotels, as Mr Loukal said.

In this regard, head of the BEA asserted that it looks for the forefront using modern banking technology. We are the only bank in Algeria which has access to the three international cards “Master” “American Express” and “Visa”.

Source: echoroukonline.com

Posted May 3, 2011 by newworldconsulting in Uncategorized

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