Latest news with #Tunisians'
Yahoo
21-06-2025
- Sport
- Yahoo
📹 Espérance knock out Los Angeles, Flamengo through to the last 16
📹 Espérance knock out Los Angeles, Flamengo through to the last 16 This Friday (20), Espérance beat Los Angeles FC 1 x 0, at Geodis Park, in Nashville, in the second round of the first phase of the Club World Cup. The Tunisians' goal was scored by Belaili, in the second half. In stoppage time, Los Angeles had a chance to tie, but Bouanga missed a penalty, which was defended with the feet by Ben Said! With that, Flamengo is already qualified for the round of 16 of the tournament and with the first place in Group D secured. 🤔 How so? Flamengo leads Group D with six points, which has Chelsea and Espérance with three points. Los Angeles FC remains at zero and in the last place. Advertisement In the third and final round of the first phase, the Rubro-Negro faces the already eliminated LA, while the English and Tunisians measure strength. Thus, as the first tiebreaker criterion is head-to-head, even if Flamengo loses to the Americans and remains with six points, it would not be surpassed by either Chelsea or Espérance, as it beat both 3 x 1 and 2 x 0, respectively. With the classification secured, coach Filipe Luís should preserve Gerson, Pulgar, Bruno Henrique, and Gonzalo Plata in the game against Los Angeles FC, since they all have a yellow card. According to the tournament rules, two yellow cards suspend for the next match, meaning they would risk missing the round of 16. Advertisement This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here. 📸 David Ramos - 2025 Getty Images
Zawya
11-04-2025
- Business
- Zawya
Tunisian banks halt long-term loans after new law threatens profits, sources say
Tunisian private banks have halted extending new loans exceeding 15 years to protect their profits after a new law cut borrowing costs, banking sources told Reuters, a move that could complicate Tunisians' access to housing loans. President Kais Saied's government imposed new lending regulations, which came into effect in January, to support households amid a growing economic crisis. They allow borrowers interest rate reductions of 50% on certain fixed-rate loans and require banks to issue prescribed amounts of interest-free loans. "We have received verbal instructions (from the bank's management) to stop lending fixed-term loans with maturities exceeding 15 years," a senior official at a private bank told Reuters. He said it was clear the instructions were verbal to avoid any written impact that could lead to banks being penalized by financial authorities. Officials at two other private banks told Reuters they been told verbally by management not to extend new loans of more than 15 years. One of them said: "The goal is to reduce financial risks resulting from low-cost lending, which increases pressure on banks and the distribution of expected dividends to shareholders." There are around 19 private banks in Tunisia led by BIAT and Attijari Bank and including foreign-owned banks, and four main state banks. Fitch Ratings said last month that the new banking regulations could cut Tunisian banks' combined annual profit by 11%. The government also raised corporate tax rate on bank profits to 40% from January 2025 from 35% previously, a move that will also weigh on profitability, according to Fitch. ECONOMIC CRISIS Mohamed Souilem, a financial analyst and former director of fiscal policy at the Central Bank of Tunisia, said that banks' move to stop new long-term loans appears to be a direct response to the new regulations. He expects the move will have a severe impact on Tunisians' access to housing loans and on the resilience of the already fragile banking sector. "The decision could affect the banks' credit ratings, and Tunisians will truly struggle to obtain housing loans now," he told Reuters. President Saied, who is also facing public anger over an unprecedented migrant crisis, criticised banks last month, saying they are making huge profits, their services are too expensive and they should contribute to national efforts to save the ailing economy. Economic growth has not exceeded 1.4% in the past year and the North African country's public finances are in crisis, leading to shortages of key commodities including sugar, rice and coffee. The president has also called for the law governing the central bank to be amended so that the government can borrow directly from it for the state treasury instead of borrowing from banks at high interest rates, a move experts warn could drive inflation out of control. (Reporting by Tarek Amara; Editing by Susan Fenton)
Reuters
11-04-2025
- Business
- Reuters
Exclusive: Tunisian banks halt long-term loans after new law threatens profits, sources say
Summary Companies New bank law requires Tunisian banks to offer lower interest rates Private banks halt new loans of more than 15 years-sources say Tunisian President Kais Saied has criticised banks over profits and fees TUNIS, April 11 (Reuters) - Tunisian private banks have halted extending new loans exceeding 15 years to protect their profits after a new law cut borrowing costs, banking sources told Reuters, a move that could complicate Tunisians' access to housing loans. President Kais Saied's government imposed new lending regulations, which came into effect in January, to support households amid a growing economic crisis. They allow borrowers interest rate reductions of 50% on certain fixed-rate loans and require banks to issue prescribed amounts of interest-free loans. "We have received verbal instructions (from the bank's management) to stop lending fixed-term loans with maturities exceeding 15 years," a senior official at a private bank told Reuters. He said it was clear the instructions were verbal to avoid any written impact that could lead to banks being penalized by financial authorities. Officials at two other private banks told Reuters they been told verbally by management not to extend new loans of more than 15 years. One of them said: "The goal is to reduce financial risks resulting from low-cost lending, which increases pressure on banks and the distribution of expected dividends to shareholders." There are around 19 private banks in Tunisia led by BIAT ( opens new tab and Attijari Bank and including foreign-owned banks, and four main state banks. Fitch Ratings said last month that the new banking regulations could cut Tunisian banks' combined annual profit by 11%. The government also raised corporate tax rate on bank profits to 40% from January 2025 from 35% previously, a move that will also weigh on profitability, according to Fitch. ECONOMIC CRISIS Mohamed Souilem, a financial analyst and former director of fiscal policy at the Central Bank of Tunisia, said that banks' move to stop new long-term loans appears to be a direct response to the new regulations. He expects the move will have a severe impact on Tunisians' access to housing loans and on the resilience of the already fragile banking sector. "The decision could affect the banks' credit ratings, and Tunisians will truly struggle to obtain housing loans now," he told Reuters. President Saied, who is also facing public anger over an unprecedented migrant crisis, criticised banks last month, saying they are making huge profits, their services are too expensive and they should contribute to national efforts to save the ailing economy. Economic growth has not exceeded 1.4% in the past year and the North African country's public finances are in crisis, leading to shortages of key commodities including sugar, rice and coffee. The president has also called for the law governing the central bank to be amended so that the government can borrow directly from it for the state treasury instead of borrowing from banks at high interest rates, a move experts warn could drive inflation out of control.
Zawya
07-04-2025
- Business
- Zawya
Tunisia:"Future inflation trajectory remains subject to upward risks"
Tunis: Tunisia's future inflation trajectory remains subject to upward risks, with rates fluctuating between 5% and 6%, despite recent success in curbing inflation over the past few months, said economic advisor and former minister Mohsen Hassan. In an interview with TAP news agency, Hassan highlighted economic forecasts following a slight rise in the inflation rate to 5.9% in March 2025, up from 5.7% at the end of February 2025. He also assessed Tunisia's current economic situation and growth prospects amid global protectionist policies and domestic fiscal measures. The National Statistics Institute (INS) reported on Sunday a minor inflation increase linked to heightened consumption during Ramadan, a peak month for spending. Prices for the "food products" category rose to 7.8% in March 2025 from 7% in February, while the "clothing and footwear" group saw inflation climb to 11.7%, up from 9.7%. Q: How do you explain this slight inflation increase? A: INS data shows a rise in inflation in March 2025 after consecutive declines in recent months. This uptick is primarily driven by higher food prices due to increased demand during Ramadan, a predictable trend given Tunisians' consumption habits. Beyond immediate causes, deeper structural issues contributed to this upward trend. The recent drop in inflation was achieved through restrictive monetary policies by Tunisia's Central Bank (BCT) and government efforts to stabilise supply chains. However, inflation's resurgence reflects persistent structural flaws, such as poor management of agricultural sectors—particularly strategic stockpiling and supply shortages—which disrupt markets and drive price hikes. Another structural issue involves supply-demand imbalances in sectors like red meat. For example, lamb prices surged by 21.9% by the end of March 2025. Addressing these challenges requires sectoral policies to resolve distribution bottlenecks, modernise market systems, and strengthen economic oversight. Globally, inflation has declined recently, but Tunisia remains vulnerable to imported inflation due to exchange rate pressures. Maintaining prudent monetary policies and stabilising the dinar's exchange rate are critical. Q: What are your inflation projections for the coming months? A: Inflation risks persist due to external factors, including geopolitical shifts and protectionist policies—such as recent U.S. tariffs—that could elevate global inflation and stagnate key markets like the EU, which Tunisia relies on. Domestically, curbing inflation demands stabilising supply-demand mechanisms by boosting production, addressing structural inefficiencies, and fostering a more attractive business climate. Urgent reforms in distribution networks, agricultural development, and economic controls are essential to mitigate these risks. © Tap 2022 Provided by SyndiGate Media Inc. (
CAF
01-04-2025
- Sport
- CAF
Shalulile strike hands Sundowns first-leg advantage over Esperance
Published: Tuesday, 01 April 2025 Mamelodi Sundowns earned a narrow but crucial 1-0 win over Esperance de Tunis in the first leg of their TotalEnergies CAF Champions League quarter-final clash at Loftus Versfeld Stadium on Tuesday. Peter Shalulile proved the match-winner for the South African champions, poking home from close range in the 54th minute after a clever headed assist from Jayden Adams. It was a hard-fought affair in Pretoria, with both sides creating chances in an evenly balanced first half that ultimately ended goalless. Teboho Mokoena was the most threatening for the hosts early on, forcing Esperance goalkeeper Béchir Ben Saïd into a fine save with a stinging long-range effort in the 16th minute. Esperance, four-time African champions, looked dangerous on the break but were unable to find the final touch, with efforts from Yan Sasse and Youcef Belaïli failing to test Ronwen Williams in goal for Sundowns. The breakthrough came just after the break when Adams rose highest to flick a cross into the path of Shalulile, who finished calmly to give Sundowns the lead and send the home fans into celebration. Despite making several attacking substitutions, the visitors struggled to break down a disciplined Sundowns backline. Tempers flared late in the match, with Belaïli receiving a yellow card in stoppage time, as the Tunisians' frustration grew. Rulani Mokwena's side will now take a slender advantage into the second leg in Tunis, knowing a draw would be enough to send them into the semi-finals. The tie remains delicately poised, but the Brazilians will be confident after keeping a clean sheet at home.
