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Post by rocky on Sun 28 May 2017, 1:24 am

Out of bounds

Tunisia , the
Tunisian Federation of Industry worried about the risks of raising the interest rate on the competitiveness of the
Tunisian Union of Industry, Commerce and Handicrafts said on Friday that raising interest twice the price in one month involves a real risk to the institution and will have negative repercussions on their competitiveness. The Tunisian Central Bank may raise interest rate President from 4.75 percent to five percent on Wednesday in the second increase during the month with the bank 's quest to stop the decline of the dinar , which came down to historic lows against the euro and the dollar and the rise in the annual inflation rate. The Tunisian Central has raised the interest rate to 4.75 percent from 4.25 percent on 26 April last. The Tunisian Union of Industry, Commerce and Handicrafts and expressed "astonishment and surprised extreme, especially that this action came after the emergence of signs of economic recovery and positive indicators in the growth rate of the decision and could negatively affect the trend." The Tunisian customs organization statement that " the decision involves a real risk for the institution and will have negative repercussions on their competitiveness and represents a negative message to investors because it will increase the cost of investment." And it considered the organization in its statement that " the Foundation has become a victim of many decisions unjust and painful blows ever - receive one after the other on a special tax on financial institutions , the Law for the year 2017 and similar to the increase in wages and the collapse of the value of the Tunisian dinar.".

New York
oil recovering but ending the week on losses after disappointing cuts
recovered oil prices to go up more than one percent last Friday, but ended the week down nearly three percent, following a decision led OPEC to extend production cuts did not meet the expectations of some investors. Trading was limited after a heavy sell - off witnessed by the session on Thursday, before a long weekend in the United States and Britain. The increased global London Brent crude futures 69 cents or 1.3 percent to reach at the settlement of $ 52.15 a barrel, after hitting session lows at $ 50.71 a barrel. The West Texas crude rose US futures broker 90 cents or 1.8 percent to reach at the settlement of $ 49.80 a barrel, after hitting its lowest level during the session at $ 48.18 a barrel. And it pledged the Organization of the Petroleum Exporting Countries (OPEC) and some producers outside to continue production 1.8 cut one million barrels per day, for a period of nine months , until the end of the first quarter of 2018. fell crude prices five percent on Thursday after the decision, as some market participants expect to deepen production cuts . Over the week , the futures fell 2.7 percent , while Brent fell 1.1 percent , US crude contracts.

Kuwait 's
Agility reach a settlement "comprehensive" with the United States compared to $ 95 million ,
Agility Kuwait 's Public Warehousing said it reached a "comprehensive settlement" of issues related to the US government contracts for the supply of food , which was a party between 2003 and 2010 to pay $ 95 million . Confirmed Agility in a statement "in respect of civil proceedings, the company agreed to pay US $ 95 million in cash. In addition, both Agility and the US government agreed on a mutual waiver of all contractual claims between them arising from the supply of food contracts." Kuwaiti company previously announced that it had agreed to "claim by the immaterial" respect to one invoice value of $ 551, which would require them this amount is returned to the government without incurring any penal fines. These included contracts, which lasted for seven years, about 200 thousand US government bill worth estimated at more than $ 8.6 billion. It includes the settlement under this agreement " to resolve all legal issues arising from these contracts with the US government concerning the staff of Agility and its directors and its officials and its subsidiaries. Be conditional on the approval of the final settlement of the terms of the court , " according to a company statement.
This settlement will also allow for Agility " to resume work on US government contracts again."

    Current date/time is Thu 24 May 2018, 12:17 pm