Tunisians Clash With Police as Protests Over Economy Build

Tunisians Clash With Police as Protests Over Economy Build

TUNIS (Capital Markets in Africa) – Tunisian police fired rubber bullets and tear gas at demonstrators in the capital, Tunis, as increasingly violent protests test a government struggling to put its finances in order and attract investors. Late Tuesday, a branch of the French superstore Carrefour was looted and attempts made to set the building on fire. Demonstrations began last week over the government’s budget, which includes higher taxes and spending cuts. One protester has…

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Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

Tunisia SE Rises 0.9% to 6,257.24; Poulina Group Leads Advance

TUNIS (Capital Markets in Africa) – The Tunisia Stock Exchange Tunindex rose 0.9 percent to 6,257.24. The move was the biggest since rising 1.1 percent on Aug. 29 and follows the previous session’s decrease of 1.3 percent. The MSCI Emerging Markets Europe, Middle East and Africa Index was little changed, down 0.07 percent. Poulina Group contributed the most to the advance and had the biggest gain, increasing 5.3 percent. Servicom SA fell 3.2 percent, the biggest loss. The biggest movers also…

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Tunisia to Raise Taxes, Curb Wage Growth in 2018 to Fix Finances

Tunisia to Raise Taxes, Curb Wage Growth in 2018 to Fix Finances

TUNIS (Capital Markets in Africa) – Tunisia plans to cut its budget deficit by raising taxes and curbing wage increases next year, as it implements an IMF-backed plan designed to fix state finances, spur growth and create jobs. The government is aiming for a budget gap of 4.9 percent of gross domestic product in 2018, the state-run news agency TAP reported, compared with about 6 percent projected by the IMF for this year. Revenue measures…

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Moody’s takes rating actions on five Tunisian banks

Moody’s takes rating actions on five Tunisian banks

TUNIS (Capital Markets in Africa) – Moody’s Investors Service (“Moody’s”) has today downgraded to B1 from Ba3 the long-term local currency deposit ratings of Arab Tunisian Bank (ATB), Banque Internationale Arabe de Tunisie (BIAT) and Banque de Tunisie (BdT) while also downgrading the long-term local currency deposit ratings of Amen Bank (Amen) and Société Tunisienne de Banque (STB) to B2 from B1. Moody’s also changed the outlook on the long-term deposit ratings of ATB to…

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Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

TUNIS (Capital Markets in Africa) – Moody’s Investors Service has today downgraded the long-term issuer rating of the government of Tunisia to B1 from Ba3 and maintained the negative outlook. Moody’s has also downgraded the foreign currency debt rating of the Central Bank of Tunisia to B1 from Ba3 and maintained the negative outlook, in addition to downgrading the shelf/MTN rating to (P)B1 from (P)Ba3. The Government of Tunisia is legally responsible for the payments…

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Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

Moody’s downgrades Tunisia’s rating to B1, maintains negative outlook

TUNIS (Capital Markets in Africa) – Moody’s Investors Service has today downgraded the long-term issuer rating of the government of Tunisia to B1 from Ba3 and maintained the negative outlook. Moody’s has also downgraded the foreign currency debt rating of the Central Bank of Tunisia to B1 from Ba3 and maintained the negative outlook, in addition to downgrading the shelf/MTN rating to (P)B1 from (P)Ba3. The Government of Tunisia is legally responsible for the payments…

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AfricInvest invests in International Community School, Ghana

AfricInvest invests in International Community School, Ghana

ACCRA (Capital Markets in Africa) – AfricInvest, a leading pan-African mid-cap-focused Private Equity firm, is pleased to announce that its AfricInvest Private Equity Fund III has invested in International Community School Limited (ICS), a leading private K-12 school in Ghana. Through its investment, AfricInvest aims to support the growth of ICS by upgrading its facilities and funding its other expansion plans to re-enforce the success of the school in both its Kumasi and Accra locations….

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