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, Mauritania Partnership Aims to Produce 14 Mln Tons of Iron Annually

Mauritania’s Ambassador to Saudi Arabia Moktar Ould Dahi. (Asharq Al-Awsat)
Mauritania’s Ambassador to Saudi Arabia Moktar Ould Dahi. (Asharq Al-Awsat)
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Saudi Arabia, Mauritania Partnership Aims to Produce 14 Mln Tons of Iron Annually

Mauritania’s Ambassador to Saudi Arabia Moktar Ould Dahi. (Asharq Al-Awsat)
Mauritania’s Ambassador to Saudi Arabia Moktar Ould Dahi. (Asharq Al-Awsat)

Mauritania and Saudi Arabia are working to launch a strategic iron mining partnership as part of efforts to expand economic cooperation and boost mutual investments, Mauritania’s ambassador to Riyadh said.

Ambassador Moktar Ould Dahi told Asharq Al-Awsat that the project involves creating “Takamul,” a joint venture between Mauritania’s state-owned mining firm and Saudi Arabia’s Hadeed.

The company, now in the funding stage, would develop an iron ore mine in Mauritania with an annual output target of 12-14 million tons.

The initiative follows a June meeting in Makkah between Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, and Mauritanian President Mohamed Ould Cheikh El Ghazouani.

Ould Dahi said trade between the two nations is set to gain momentum, with plans to improve direct transport links to overcome logistical challenges caused by distance and the lack of a direct shipping route.

Saudi investment in Mauritania has risen in recent years, particularly in small and medium-sized enterprises in agriculture and manufacturing. A joint Saudi-Mauritanian business council has been formed to spur private sector partnerships, he added.

Saudi Arabia and Islamic development institutions are major financiers of Mauritanian projects, the envoy said. The Saudi Fund for Development currently has $340 million in active financing, including the King Salman Hospital in Nouakchott and a water supply project for Kiffa.

The Islamic Development Bank has $315 million allocated for projects such as the Atar-Chinguetti road and a specialist maternity and children’s hospital.

Mauritania offers “attractive reserves” in multiple sectors, Ould Dahi said, listing high-grade deposits of iron ore, gold, copper, uranium, phosphates and cobalt; significant confirmed gas reserves with more expected; rich fisheries; strong green hydrogen potential; and hundreds of thousands of hectares of fertile, undeveloped farmland along the Senegal River.

He expects these opportunities to translate into new Saudi-Mauritanian ventures soon, noting growing interest from Saudi public and private investors.

“Mauritania-Saudi relations are at their best,” Ould Dahi said, citing regular high-level consultations, a formal joint cooperation committee and strong Saudi backing for Mauritania in Arab, Islamic and international development forums.

He credited Saudi Arabia for decades of support since Mauritania’s independence, funding key infrastructure from roads, water systems and dams to power, schools and hospitals.