The head of the Tunisian Chamber of Commerce called for the expansion of mutual economic and trade cooperation with Iran. He added that Tunisia can act as a gateway for Iran to import and export commodities to and from Africa. An Iran-Tunisia Joint Trade Council would also give an opportunity for the two countries to broaden their economic and trade relations.
[FARS, 12/01/2014]
Egypt’s businesses among most corrupt in the world
A survey by international audit firm EY showed that Egyptian businesses experience some of the highest levels of fraud and corruption worldwide. According to the report, unethical behavior in businesses is a structural problem that is unlikely to be eradicated. [Ahram Online, 12/01/2014]
Algeria ready to weather oil price slump
Algerian finance minister announced that the country is able to weather the global fall in oil prices, which are at their lowest level in five years. He added that Algeria has been able to accumulate substantial currency reserves to help deal with the lower cost of oil. Algeria benefited from high oil prices between 2005 and 2008 and used the income to pay off most of its foreign debt. [Al Arabiya, 12/02/2014]
Also of Interest:
Morocco a gateway to Africa and Europe for GCC countries | Morocco World News
Algeria: Is it the end of oil bonanza? | Morocco World News
Egyptian consumers unlikely to feel oil price drop, despite macro gains | Ahram Online
OPEC had to choose between two Libyan governments | Business Insider
UN suspends food aid to 1.7 million Syrian refugees | AFP, NYT