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☆ Greenpeace activists scale Shell oil platform in the Atlantic Ocean as company announces record profits
▼ + stars: | 2023-02-02 | by ( Laura Paddison | ) edition.cnn.com time to read: +3 min

CNN —Activists from the campaign group Greenpeace have boarded a ship in the Atlantic Ocean and scaled a Shell oil platform that is currently being transported to the North Sea. The company has benefited from very high oil and gas prices following Russia’s invasion of Ukraine. Shell is moving the platform to the Penguins oil and gas field, northeast of the Shetland Islands in Scotland to help unlock new wells. The field is expected to produce 45,000 barrels of oil or gas equivalent a day. Greenpeace climate activists: Carlos Marcelo Bariggi Amara, from Argentina, Imogen Michel from the UK, Usnea Granger from the US, and Yakup Çetinkaya, from Turkey.

☆ Polls open in Tunisian election with turnout under scrutiny
▼ + stars: | 2023-01-29 | by ( Tarek Amara | ) www.reuters.com time to read: +3 min

[1/2] A voter casts his ballot at a polling station during the second round of the parliamentary election in Tunis, Tunisia January 29, 2023. Polls are open from 8 a.m. until 6 p.m. (0700 GMT-1700 GMT). On Friday Moody's credit ratings agency downgraded Tunisian debt saying the country would likely default on sovereign loans. Saied's new rules make the parliament subservient to the president, who now takes the lead in forming or dismissing governments. The rules also reduce the role of political parties, with parliamentary candidates listed only by name without reference to their party affiliation.

The Treasury Department is expected to begin implementing extraordinary measures to manage the government’s cash flow through the spring. The federal government could run out of money to pay all its bills as soon as June, putting Congress on the clock to again raise or suspend the federal borrowing limit. Treasury Secretary Janet Yellen recently said the government would hit the current $31.4 trillion borrowing limit Jan. 19, and the Treasury Department will begin implementing so-called extraordinary measures to manage the government’s cash flow through the spring.

☆ Thousands of Tunisians rally against president on revolution anniversary
▼ + stars: | 2023-01-14 | by ( Tarek Amara | ) www.reuters.com time to read: +3 min

TUNIS, Jan 14 (Reuters) - Thousands of protesters marched against Tunisian President Kais Saied's seizure of near total power in central Tunis on Saturday, demanding he step down as they marked the anniversary of a key date in the 2011 revolution that brought democracy. "We were on Bourguiba in January 2011 when Saied was not present... today he is closing Bourguiba to us. We will reach it whatever the price," said Chaima Issa, an activist who took part in the 2011 revolution before the crowd pushed through the barriers. [1/5] Demonstrators hold placards during a protest against Tunisian President Kais Saied, on the anniversary of the 2011 uprising, in Tunis, Tunisia January 14, 2023. However, Saied unilaterally changed the official anniversary date and has said he regards Jan. 14 as a moment when the revolution went astray.

"The situation is very dangerous because of years of continuous drought," said Hammadi Habib, an Agriculture Ministry official. Tunisia already has food supply problems thanks to high global prices and the government's own financial difficulties, which have reduced its capacity to buy imported food and subsidise farms at home. "It is time for the authorities to declare a state of water emergency," said Radhia Smine of the Tunisian Observatory of Water. Thousands of families will lack drinking water," she added. "If we do not take decisions in January to reduce irrigation water and ration water use now to prioritise drinking water... then for sure in August we will not have drinking water in the capital or coastal regions," said Habib, the agriculture ministry official.

☆ Five African migrants die, 10 missing after boat sinks off Tunisia
▼ + stars: | 2023-01-07 | by ( ) www.reuters.com time to read: +1 min

TUNIS, Jan 7 (Reuters) - At least five African migrants died and another 10 were missing after a boat sank off Tunisia, as they tried to cross the Mediterranean to Italy, a judicial official said on Saturday. The coastguard rescued 20 migrants who had been on the overcrowded boat, which sank off Louata in Sfax region on Friday, the official told Reuters. In recent months, hundreds of people have drowned off the Tunisian coast, with an increase in the frequency of attempted crossings from Tunisia and Libya towards Italy. In light of an unprecedented economic and financial crisis in Tunisia, more than 18,000 Tunisians travelled by boats to Europe in 2022, according to rights group Tunisian Forum for Economic and Social Rights. Reporting by Tarek Amara Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Three prominent opponents of Tunisian president say they are under investigation
▼ + stars: | 2023-01-02 | by ( Tarek Amara | ) www.reuters.com time to read: +1 min

TUNIS, Jan 2 (Reuters) - Three prominent opponents of Tunisian President Kais Saied said on Monday that they had received notices from prosecutors that they were under investigation, including one related to assaulting public security and insulting the president. Chebbi is the leader of the opposition Salvation Front and has organized regular protests against Saied for months. Saied seized control of executive powers in July 2021 and later dissolved parliament, a step described by his opponents as a coup. The powerful UGTT Union also criticized the president, saying that it rejects his autocratic approach and will not remain silent. Hammami said a judge opened an investigation at the request of the justice minister on charges of spreading rumors and insulting the president.

☆ Tunisia union threatens to 'occupy the streets,' rejects 2023 budget
▼ + stars: | 2022-12-26 | by ( Tarek Amara | ) www.reuters.com time to read: +2 min

TUNIS, Dec 26 (Reuters) - Tunisia's powerful UGTT union will hold mass protests and "occupy the streets" soon to show its rejection of next year's austerity budget, the leader of the union said on Monday, in its strongest challenge to the government of President Kais Saied yet. The union, with more than a million members, has proven able to paralyse the economy with strikes. We will not accept it...we will occupy the streets to defend our choices and the interest of the people,” Noureddine Taboubi, the head of UGTT, said. Tunisia has reached a staff-level agreement with the IMF for a $1.9 billion rescue package in exchange for unpopular reforms, including cutting food and energy subsidies, and overhauling public companies. The 2023 budget showed that wage bill in the public sector will drop from 15.1% in 2022 to 14% next year, a main reform demanded by the IMF.

☆ Germany's KfW lends Tunisia 300 million euros to finance development
▼ + stars: | 2022-12-24 | by ( ) www.reuters.com time to read: 1 min

Dec 23 (Reuters) - German state lender KfW (KFW.UL) on Friday lent 300 million euros ($319 million) to Tunisia to finance projects in renewable energy, water and rural development, officials said. The agreement was signed in Tunisia's foreign ministry. ($1 = 0.9417 euros)Reporting by Tarek Amara; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

☆ Tunisia seeks to cut fiscal deficit to 5.5% in 2023, led by economic reforms
▼ + stars: | 2022-12-23 | by ( Tarek Amara | ) www.reuters.com time to read: +2 min

The Economy Ministry said on Friday that economic growth in 2023 would be 1.8%, compared with 2.5% expected this year. Tunisia has reached a staff-level agreement with the IMF for a $1.9 billion rescue package in exchange for unpopular reforms, including cutting food and energy subsidies, and overhauling public companies. The country's trade deficit is expected to shrink by 1.5% next year, to 15.8% of GDP in 2023. PAINFUL REFORMSAccording to next year's budget published by the economy ministry, Tunisia intends to reduce subsidy expenditure by 26.4% to 8.8 billion dinars. The ministry said it expects inflationary pressure to continue with the start of the reforms, which the union called "very painful".

☆ EIB bank lends Tunisia 150 mln euros in emergency support for food security
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: 1 min

TUNIS, Dec 18 (Reuters) - The European Investment Bank, the lending arm of the European Union, has approved a 220 million euro loan ($233 mln) for Tunisia, including 150 million euros in emergency support for food security, the Tunisian Ministry of Economy said on Sunday. Tunisia is in a deep financial crisis which has resulted in a shortage of many food commodities in recents weeks. Agriculture Minister Mahmoud Elyess Hamza said the loan will help Tunisia to regularly supply soft wheat. ($1 = 0.9450 euros)Reporting by Tarek Amara Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

Opposition politicians said Tunisia's lowest ever turnout stripped away any facade of democratic legitimacy for Saied's political project and called directly for his ouster. Saturday's dismal turnout strongly reinforced a perception of scant public support for his plans. As a political independent, Saied lacks the nationwide support of a party apparatus that can mobilise on his behalf. "Politics has become a luxury that we cannot afford," said Lamia Gharbi, who was queuing for bread at a Tunis bakery. Successive coalition governments have failed to find a fix for public finances that can satisfy lenders without prompting a domestic backlash.

☆ Tunisian opposition calls on president to quit after low turnout election
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +1 min

[1/2] Tunisia's President Kais Saied speaks outside a polling station during parliamentary election in Tunis, Tunisia, December 17, 2022. Tunisian Presidency/Handout via REUTERSTUNIS, Dec 17 (Reuters) - Tunisia's "Salvation Front" opposition coalition called for President Kais Saied to quit office, saying he had lost his legitimacy after Saturday's parliamentary election had a preliminary turnout figure of less than 9%. Although opposition groups have previously attacked Saied's political programme, they had not previously said he should quit office. "From this moment we consider Saied an illegitimate president and demand he resign after this fiasco," he said. Saied has presented his political changes as necessary to save Tunisia from years of political and economic crisis.

DOHA/RABAT, Dec 14 (Reuters) - Moroccans slumped with disappointment on Wednesday after their team's semi-final defeat to France, but were still pumped with pride for a World Cup run that spurred tears of joy across Africa and the Arab world. In the first World Cup held in an Arab country, and one already marked by upsets, Morocco won supporters far afield as the first Arab team to reach the quarter-finals and the first African team to reach the semis. It is already an honour and we are proud to see people from different countries root for the Moroccan team," said Taoufiq Ouchikh. We lost to a world Cup champion and we dominated," said Abdelilah Sair, another fan watching in the same cafe. Moroccan Prime Minister Aziz Akhannouch lauded a team he called heroes that brought joy to Moroccans and made the country's name "resonate on every tongue during the World Cup".

☆ Fund manager names two global retailers that are about to 'dominate'
▼ + stars: | 2022-12-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

London-listed retailers Frasers Group and Next are two clothing retailers that will "dominate" the sector during a recession, according to a veteran Schroders fund manager. Andrew Brough, who runs the Schroder UK Mid Cap Fund, said the two conservatively run companies are well placed to expand and take market share during a downturn through acquisitions. Shares of Frasers Group have risen by 30.6% over the past year, outperforming the FTSE 350 general retailers index, which has fallen by 29.3% over the same period. Frasers Group is Brough's largest holding, making up 6.7% of his fund. Brough, who's run his fund for 23 years, said he was more optimistic than others about the U.K.'s economy over the near term.

"There is a big solidarity between us, Morocco, Tunisia, Qatar and Saudi Arabia. "Look at what Saudi Arabia and Morocco have done. We hope that it will be crowned with a Tunisian and Saudi victory today," he said. "It's a good feeling, the first time (a World Cup is hosted) in an Arabian country," said Ali Abbas Moussa, a 30-year-old pharmacist from Iraq. Some Arab leaders attending the World Cup have echoed the sense of pan-Arab solidarity during matches.

☆ Federal Deficit Could Widen as Economy Slows, Borrowing Costs Rise
▼ + stars: | 2022-10-21 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

The Treasury Department is poised to release its final budget figures for the 2022 fiscal year. A cooling U.S. economy and rising interest rates could widen the federal budget deficit, potentially undercutting the White House’s message that a shrinking budget gap under President Biden shows fiscal responsibility in a time of high inflation. The budget deficit for the 2023 fiscal year, which began Oct. 1, is expected to hold nearly steady from the last fiscal year, at more than $1 trillion, the White House and private sector economists say.

☆ Protests paralyse Tunisian town after migrant deaths
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

TUNIS, Oct 18 (Reuters) - A southern Tunisian coastal town was paralysed by protests on Tuesday amid growing anger over the fate of people who drowned in a migrant shipwreck last month, with some buried in unmarked graves. Images showed the streets of Zarzis packed with protesters chanting anti-authority slogans with shops and government institutions closed. Nothing," he said, adding that Walid felt he had no future in Tunisia despite being an excellent student. Protests began in Zarzis this month after a boat believed to be carrying 18 migrants disappeared. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tarek Amara, writing by Angus McDowall, editing by Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

☆ For Black Voters, Social Issues Compete With the Economy as Top Concern
▼ + stars: | 2022-10-17 | by ( Amara Omeokwe | Joshua Jamerson | ) www.wsj.com time to read: 1 min

AUGUSTA, Ga.—Johnny Gregory III, a Black father with several teenage children, says his priority in the midterm elections is to vote for a candidate who will increase funding for education and teachers. “I do care about the economic issues. It’s just for me, the social issues mean way more to me right now,” said Mr. Gregory, 43 years old, who leads a local nonprofit and lives in Augusta. He plans to vote for Democratic Sen. Raphael Warnock , who is in a tight race against Republican Herschel Walker . “The education system, I see it just getting worse.”

The agreement is also seen as critical to unlock bilateral aid from country donors that wanted the reassurance of an IMF programme that Tunisia would carry out reforms to put its finances on a more sustainable footing. "The agreement is an important step for Tunisia's public finances and will allow Tunisia to borrow from some bilateral sources," a senior Tunisian official said on condition of anonymity. It is subject to the approval of the IMF board, which is scheduled to discuss Tunisia's programme request in December, the fund said. The IMF warned that in the near term growth would likely slow with more pressure on inflation and on the external and fiscal balances. The government negotiated for months with the IMF and had to also to sign an agreement with the UGTT to limit public sector wage increases over the next three years.

☆ Tunisia police clash with protesters, the second night of protests
▼ + stars: | 2022-10-15 | by ( ) www.reuters.com time to read: +1 min

TUNIS,Oct 15 (Reuters) - Protestors clashed with police in the Tunisian capital of Tunis on Saturday, for the second night after a man died from injuries sustained during a police chase in August. The fresh protests come as the country suffers an economic and political crisis amid fuel and food shortages. The protests began on Friday after the funeral of the young man. The North African nation is suffering a severe political crisis since Tunisian President Kais Saied seized power and dissolved parliament in 2021. Register now for FREE unlimited access to Reuters.com RegisterReporting by Tarek Amara; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Federal Deficit Fell by $1.4 Trillion in Fiscal Year 2022, CBO Estimates
▼ + stars: | 2022-10-12 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

The Biden administration has highlighted the deficit’s decline, arguing its policies helped spur economic growth and labor-market strength. The federal deficit declined to $1.4 trillion in the just-ended fiscal year, as tax revenues increased and pandemic-related spending fell sharply, according to estimates from the nonpartisan Congressional Budget Office. The CBO’s preliminary deficit figures for the 2022 fiscal year, which ended Sept. 30, show the federal budget shortfall fell by half from nearly $2.8 trillion the prior year, a roughly $1.4 trillion decline.

☆ Midterm Report Card on Biden Economy Clouded by OPEC, Fed Moves
▼ + stars: | 2022-10-10 | by ( Ken Thomas | Amara Omeokwe | ) www.wsj.com time to read: 1 min

WASHINGTON—Recent economic developments threaten President Biden’s efforts to shore up the economy and reduce inflation, introducing fresh vulnerabilities to Democrats’ midterm campaign. Democrats aiming to keep their narrow control of the House and Senate have benefited in recent months from voter enthusiasm over abortion access, an issue seen as favoring their candidates after the Supreme Court struck down the right to the procedure. But oil production cuts by the Organization of the Petroleum Exporting Countries, rising prices at the pump and the Federal Reserve’s efforts to tame inflation with successive rate increases stand to roil the economy and potentially bolster Republicans’ prospects.

☆ Biden’s Student-Loan Forgiveness Plan Could Cost $400 Billion, CBO Says
▼ + stars: | 2022-09-27 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

A range of analyst estimates raises questions about how President Biden’s student-loan plan will ultimately affect the federal budget. President Biden’s plan to cancel student debt for some borrowers will cost the federal government an additional $400 billion, according to the nonpartisan Congressional Budget Office. The estimates released Monday are the latest to put a price tag on the administration’s student-loan modification plans, in the absence of a detailed accounting from the White House. A range of analyst estimates reflects the considerable complexity of projecting the performance of the federal government’s student-loan portfolio, and raises questions about how the moves will ultimately affect the federal budget.

☆ EV Tax Credits to Spur More Vehicle Sales Are Entering a Critical Phase
▼ + stars: | 2022-09-27 | by ( Amara Omeokwe | ) www.wsj.com time to read: 1 min

The government is pressing to complete new rules on tax breaks for electric-vehicle purchases by an end-of-year deadline as auto companies seek guidelines that help qualify as many vehicles as possible. The Treasury Department is leading the effort after the August signing of a law that extended an existing $7,500 tax credit through 2032. The EV plan, included in Democrats’ climate, health and tax-policy package known as the Inflation Reduction Act, included new requirements for U.S. battery sourcing that auto makers have warned will make it difficult for models available today to be eligible.

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