About 45 Tunisian Hotels Affected by Collapse of Thomas Cook

Shopkeepers wait for customers in front of a souvenir shop following Thomas Cook's collapse, in Hammamet, Tunisia, September 24, 2019. (Reuters)
Shopkeepers wait for customers in front of a souvenir shop following Thomas Cook's collapse, in Hammamet, Tunisia, September 24, 2019. (Reuters)
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About 45 Tunisian Hotels Affected by Collapse of Thomas Cook

Shopkeepers wait for customers in front of a souvenir shop following Thomas Cook's collapse, in Hammamet, Tunisia, September 24, 2019. (Reuters)
Shopkeepers wait for customers in front of a souvenir shop following Thomas Cook's collapse, in Hammamet, Tunisia, September 24, 2019. (Reuters)

About 45 hotels have been affected in Tunisia after the collapse of Thomas Cook, and the government will help the hotels with soft loans, Tunisia's tourism minister said on Tuesday.

Tourism is a vital sector of Tunisia’s economy and a key source of foreign exchange earnings. It accounts for around 8 percent of economic output and employs 400,000 people.

The collapse of Thomas Cook, one of Britain's oldest companies, has stranded more than half a million tourists around the world. It ran hotels, resorts and airlines for 19 million people a year in 16 countries.

Thomas Cook owes Tunisian hotels 60 million euros ($66 million) for stays in July and August, Tourism Minister Rene Trabelsi told Reuters earlier on Monday.

On Tuesday, Trabelsi held a crisis meeting with the British ambassador in Tunisia and hotel owners over Thomas Cook´s debt.

He said that the British government has pledged to pay Thomas Cook's debt but had not set a fixed term.

About 45 Tunisian hotels deal exclusively with Thomas cook.

"We have a proposal to open a line of financing of the affected hotels...we will call for ministerial council to study how we can help them," Trabelsi said.

The British government repatriated about 1,200 tourists via planes sent to Tunisa’s Enfidha airport, and another 4,000 still in Tunisia will return after their holidays.

Tunisia had expected to receive a record 9 million tourists by the end of 2019, up from 8 million last year.



Saudi Arabia Signs New Port Contracts Worth Over $586 Million

Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
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Saudi Arabia Signs New Port Contracts Worth Over $586 Million

Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 
Acting President of Mawani Mazen Al-Turki (Asharq Al-Awsat) 

Saudi Arabia’s General Authority for Ports (Mawani) has signed a series of new build-operate-transfer (BOT) contracts worth more than SAR 2.2 billion ($586.6 million) to develop multi-purpose cargo terminals at eight of the Kingdom’s ports.

Acting President of Mawani, Mazen Al-Turki, announced the deals during a signing ceremony held on Monday, describing the move as another milestone in Saudi Arabia’s continued infrastructure development under government leadership.

These 20-year contracts are part of a strategic public-private partnership, bringing together local and international investors to enhance operational capabilities and increase the handling capacity of Saudi ports. The initiative aligns with the objectives of the National Transport and Logistics Strategy, which seeks to position the Kingdom as a global logistics hub.

Al-Turki emphasized that these new agreements build upon previous privatization deals, including the development of container terminals at Jeddah Islamic Port and King Abdulaziz Port in Dammam, with investments exceeding SAR 16 billion. The Authority has also signed agreements to develop 20 logistics zones across the country, backed by over SAR 10 billion in investments.

He added that the latest contracts reflect the significant transformation and strategic evolution of Saudi Arabia’s ports, contributing to improved international performance indicators and reinforcing the Kingdom’s role as a key player in the global maritime industry.

Minister of Transport and Logistics Services and Chairman of Mawani, Eng. Saleh Al-Jasser, noted that the growing flow of private-sector investment demonstrates the attractiveness of Saudi ports and the logistics sector. He highlighted recent advancements in operational efficiency and maritime connectivity, supported by major global and national companies.

Al-Jasser affirmed that the Kingdom’s transport ecosystem will continue expanding its partnerships with the private sector across all regions and domains, with the new contracts marking the continuation of strategic collaborations with leading global and local port operators.

Under the newly signed contracts, the Saudi Global Ports Company will develop, manage, and operate multi-purpose terminals at east coast ports, including King Abdulaziz Port in Dammam, Jubail Commercial Port, King Fahd Industrial Port in Jubail, and Ras Al Khair Port.

Meanwhile, Red Sea Gateway Terminal will handle similar operations on the west coast, covering Jeddah Islamic Port, Yanbu Commercial Port, King Fahd Industrial Port in Yanbu, and Jazan Port.

At King Fahd Industrial Port in Yanbu, the agreements include modernizing cargo handling with state-of-the-art STS and RTG cranes, reach stackers, trucks, and trailers, aimed at reducing truck turnaround times, vessel berthing durations, and boosting overall efficiency.