Tunisia to Invest $130 Million in Air Transport

A general view shows Tunis-Carthage International Airport in Tunis, Tunisia, July 30, 2018. REUTERS/Zoubeir Souissi
A general view shows Tunis-Carthage International Airport in Tunis, Tunisia, July 30, 2018. REUTERS/Zoubeir Souissi
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Tunisia to Invest $130 Million in Air Transport

A general view shows Tunis-Carthage International Airport in Tunis, Tunisia, July 30, 2018. REUTERS/Zoubeir Souissi
A general view shows Tunis-Carthage International Airport in Tunis, Tunisia, July 30, 2018. REUTERS/Zoubeir Souissi

Tunisian authorities are planning on announcing TND367 million ($131 million) worth of investments to expand three airports in the country.

Carthage International Airport in the capital Tunis is to get the lion’s share of around TND300 million ($100 million) so that it can handle around 8 million passengers a year.

The runways of Djerba - Zarzis International Airport in southeastern Tunisia and Tozeur - Nefta International Airport in the southwest are also set to be improved in 2020.

Flag carrier Tunisair has plans to improve its fleet by signing a final deal to buy five new Airbus A320 airplanes.

It is also expected to lease three planes pending the arrival of the new A320s.

The moves will allow Tunisair to expand the number of its passengers to 5 million.

The fleet of the flag carrier consists of 27 planes. It also has a workforce of around 8,000 employees.

The government has tried to cut the number of staff in an effort to limit economic the company's burdens. But labor unions have rejected efforts to restructure Tunisair.

The transportation sector contributes 7 percent of the country’s GDP and around 11.5 percent of total investments. It also brings revenues of around TND1.5 billion from hard currency.

But it suffers around TND4 billion in losses, which require urgent government plans for reforms and restructuring.



Saudi Arabia to Host Regular World Economic Forum Global Meeting

A view of the Saudi capital, Riyadh. (Getty Images)
A view of the Saudi capital, Riyadh. (Getty Images)
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Saudi Arabia to Host Regular World Economic Forum Global Meeting

A view of the Saudi capital, Riyadh. (Getty Images)
A view of the Saudi capital, Riyadh. (Getty Images)

Saudi Arabia will host a regular high-level World Economic Forum (WEF) global meeting in Riyadh, with the first slated for the Spring of 2026.

Saudi Minister of Economy and Planning Faisal Alibrahim and WEF President Børge Brende, made the announcement on Friday - the final day of the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland.

The global WEF meeting in Riyadh will serve as a vital platform for global leaders, experts, policy- and decision-makers from diverse fields including the public and private sectors, academia, international organizations, and civil society to convene and address the challenges defining the world.

“Hosting a regular global World Economic Forum meeting in the Kingdom is a testament to the global platform for dialogue, collaboration and innovation that Saudi Arabia has become, and that the World Economic Forum continues to be. This meeting represents a significant opportunity to further unite the world in capturing the immense potential that lies ahead,” said Alibrahim.

“In this critical juncture for the global economy, we are not only inspired by the opportunities before us, but also deeply confident that our collective efforts will forge a brighter, more inclusive and more prosperous future for all. We look forward to welcoming the global community again in Saudi Arabia in the spring of 2026,” he added.

For his part, Brende said: “The World Economic Forum is looking forward to coming back to the Kingdom in 2026. To close the 55th World Economic Forum with this announcement puts us on a strong course for the years ahead. Years that will have immense consequences. Because the progress we make over the coming months will not only deliver results in the near term, but will shape our course for years to come.”

Building on the success of the World Economic Forum Special Meeting held in Riyadh in April 2024, this new development solidifies Saudi Arabia’s position as a central player in shaping the global agenda. The Kingdom’s bold leadership and determination to foster global dialogues between developed and developing economies and drive inclusive global growth make it an ideal host to address complex global challenges with the WEF community.

The World Economic Forum Global Meeting in Riyadh is set to become a cornerstone event in the global calendar, reflecting the Kingdom’s position as a key bridge between the north and south, east and west, and a beacon for constructive dialogue and action.