Saudi Arabia will lend Tunisia $500 million (Dh 1.8 billion) at a favourable interest rate and will finance two projects worth $140 million (Dh 515 million), two sources told Reuters a day after a visit from the Saudi Crown Prince.
Crown Prince Mohammed bin Salman was received by President Beji Caid Essebsi, who awarded him the republic's medal, the highest official award. Tunisia has struggled economically and is hungry for foreign funding.
"Tunisia will announce in a few days important deals with Saudi, including a loan with low-interest rate, agreements on investment and other important details", Nourredine Ben Ticha, an adviser to the president, told state television.
Two Tunisian sources — an official and a source close to the discussions between Prince Mohammed and Mr Essebsi — told Reuters that the loan would be worth $500 million. They said that the Saudi Development Fund will also finance two projects worth about $140 million, but did not give more details.
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Read more:
Mohammed bin Salman takes in Tunisia on tour
Tunisia prime minister accused of coup plot and dismisses allegation as 'a joke'
Tunisian civil servants stage largest strike in years
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Tunisia is struggling to cut its budget deficit, stabilise falling foreign currency reserves and manage expectations of international lenders demanding reforms such as trimming the public wage bill.
Tunisia’s economy has been in turmoil since autocrat Zine Al Abidine Ben Ali was toppled in a 2011 uprising sparked by anger at unemployment, poverty and record levels of inflation.
Under pressure from the International Monetary Fund, Prime Minister Youssef Chahed has aimed to cut the budget deficit to about 4.9 per cent of GDP this year from 6.2 per cent last year.
Prince Salman told Tunisian state television that Saudi Arabia has long had good relations with Tunisia: "I cannot come to North Africa without visiting Tunisia... Tunisia’s president is like my father."
The visit was the fourth leg of his regional tour — that included the UAE, Bahrain and Egypt — before he travelled to Argentina for start of the G20 summit on Friday.
However, hundreds of Tunisians staged the first demonstrations in the Arab world against Saudi Arabia’s crown prince on his visit on Tuesday, denouncing him for the murder of Saudi journalist Jamal Khashoggi at the Istanbul consulate. A group of senior aides and officials have been implicated and arrested for the murder which Saudi officials have said was carried out without the knowledge of the royal family.
Some Tunisians were angered by Saudi Arabia for allowing Mr Ben Ali to live in Riyadh since fleeing Tunis after the protests.
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
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The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
JOKE'S%20ON%20YOU
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
THREE
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Company%20Profile
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KINGDOM%20OF%20THE%20PLANET%20OF%20THE%20APES
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What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
How tumultuous protests grew
- A fuel tax protest by French drivers appealed to wider anti-government sentiment
- Unlike previous French demonstrations there was no trade union or organised movement involved
- Demonstrators responded to online petitions and flooded squares to block traffic
- At its height there were almost 300,000 on the streets in support
- Named after the high visibility jackets that drivers must keep in cars
- Clashes soon turned violent as thousands fought with police at cordons
- An estimated two dozen people lost eyes and many others were admitted to hospital
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
CONFIRMED%20LINE-UP
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Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
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