Fortrea Signs Definitive Agreement to Divest Endpoint Clinical and Patient Access Businesses to Arsenal Capital Partners

Proposed divestiture of Endpoint Clinical and Fortrea Patient Access businesses further streamlines Fortrea’s strategic focus as a pure-play contract research organization

Creates standalone best-in-class Randomization and Trial Supply Management and Patient Access solutions positioned for differentiation and growth

DURHAM, N.C., March 11, 2024 (GLOBE NEWSWIRE) — Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced it has signed a definitive agreement to divest assets relating to its Enabling Services segment, namely its Endpoint Clinical (“Endpoint”) and Fortrea Patient Access businesses, to Arsenal Capital Partners (“Arsenal”), a leading private equity firm specializing in building market-leading, technology-rich healthcare companies.

By divesting these businesses, Fortrea aims to advance the growth strategy and solutions of Endpoint and Fortrea Patient Access, positioning them for increased investment to accelerate the technology roadmap and further enhance operations to support best-in-class customer solutions and delivery. The remaining business of Fortrea will strengthen its focus on clinical development phases 1 through 4. Closing is targeted for the second quarter of 2024, subject to customary closing conditions and regulatory approvals, as well as the parties entering into certain services and operating agreements.

“Today marks a significant milestone in Fortrea’s ongoing journey, as we sharpen our focus on organically growing as a pure-play CRO, with added financial flexibility,” said Fortrea Chairman and CEO Tom Pike. “After undertaking a strategic review of our business, divesting Endpoint and Fortrea Patient Access aligns with the interests of our customers. Arsenal has extensive experience in building businesses that create systematic improvement in health outcomes, and I am confident that Endpoint and Fortrea Patient Access will be able to strengthen their market positions, nurture top-tier talent and invest in new capabilities and resources while delivering solutions that improve patients’ lives.”

“I am excited for this next chapter for Endpoint and Fortrea Patient Access,” said Sam Osman, president of Enabling Services at Fortrea, who will serve as the CEO of these businesses with Arsenal. “These businesses will be distinctively positioned to effectively manage the patient journey across clinical trials and into commercialization by driving patient access and adherence for approved therapies. Combining Arsenal’s deep investment acumen and leading industry operational expertise, I am confident the Endpoint and Fortrea Patient Access businesses are well positioned for growth and delivery of enhanced capabilities for patients and pharma sponsors. I look forward to our continued positive impact on healthcare.”

“Endpoint and Fortrea Patient Access have a proud, decades-long track record of market leadership in supporting clinical research and commercialization of innovative therapies. Arsenal takes pride in building organizations that meaningfully improve healthcare. We are excited to partner with management and employees to accelerate the growth of these two businesses,” said Gene Gorbach, an Investment Partner of Arsenal.

Dimitris Agrafiotis, Ph.D., Director of Digital, Analytics & AI at Arsenal said, “Endpoint and Fortrea Patient Access provide essential solutions that enable patients’ participation in clinical trials and access to therapies. I am delighted to support the talented team at Endpoint and Fortrea Patient Access. Together, we will further enhance the sophistication of technology capabilities that underpin these companies’ commitment to delivering the highest quality services to the pharmaceutical industry.”

Endpoint Clinical
Endpoint operates in the high growth eClinical market as a leading provider of Randomization and Trial Supply Management (RTSM) solutions to biopharmaceutical and CRO customers with expertise in serving complex and late-stage clinical trials. For more than 15 years, Endpoint has had a successful track record of effectively supporting more than 1,750 clinical trials involving 875,000 patients across 90 countries and has cultivated a blue-chip customer base and nurtured long-standing strategic relationships.

Fortrea Patient Access
Fortrea Patient Access is a scaled leader in the HUB services and patient access market, serving the biopharmaceutical industry with comprehensive patient support, product access, affordability and adherence solutions for more than 30 years. Further advanced by its recently expanded non-commercial specialty pharmacy, FortreaRx™, to support enhanced distribution of cold-chain and ambient free goods products, Fortrea Patient Access is committed to driving patient outcomes and improving healthcare accessibility through its extensive experience while currently supporting more than 2.5 million patients and over 100 unique brands across more than 25 disease indications.

Arsenal Capital Partners
Arsenal Capital Partners is a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 290 platform and add-on acquisitions, and achieved more than 35 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth, and high value-add.  For more information, visit www.arsenalcapital.com.

Advisors
Barclays is serving as exclusive financial advisor to Fortrea, and Smith Anderson is serving as its legal counsel. Sidley Austin LLP served as Arsenal’s legal counsel.

Earnings Call and Replay
Fortrea will discuss the divestiture announcement on its fourth quarter 2023 earnings conference call, which will be held today at 9:00 am ET. The conference can be accessed through the Fortrea Investor Relations website or the following earnings webcast link. To avoid potential delays, please join at least 10 minutes prior to the start of the call. A replay of the live conference call will be available shortly after the conclusion of the event and accessible on the events and presentations section of the Fortrea website. A supplemental slide presentation will also be available on the Fortrea Investor Relations website prior to the start of the call.

About Fortrea
Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development and patient access solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, biotechnology, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients. Fortrea provides phase I-IV clinical trial management, clinical pharmacology, consulting services, differentiated technology-enabled trial solutions and post-approval services. Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team of about 18,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally. Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter) @Fortrea.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the anticipated benefits of the transaction, including future financial and operating performance, and the anticipated timing for completing the transaction. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as “guidance,” “expect,” “assume,” “anticipate,” “intend,” “plan,” “forecast,” “believe,” “seek,” “see,” “will,” “would,” “target,” similar expressions, and variations or negatives of these words that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results could differ materially from these forward looking statements due to a number of factors, including, but not limited to: satisfaction of the conditions precedent to consummation of the proposed divestiture of Endpoint Clinical and Fortrea Patient Access businesses transaction, including the ability to secure regulatory approvals, and the Company’s ability to complete the transaction in a timely manner or at all; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the parties’ ability to meet expectations regarding the accounting and tax treatments of the proposed transaction; and other factors described from time to time in documents that the Company files with the SEC. For a further discussion of the risks relating to the Company’s business, see the “Risk Factors” Section of the Company’s Registration Statement on Form 10, as filed with the Securities and Exchange Commission (the “SEC”), as such factors may be amended or updated from time to time in the Company’s subsequent periodic and other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included or incorporated by reference in this report and in the Company’s filings with the SEC. All forward-looking statements are made only as of the date of this report and the Company does not undertake any obligation, other than as may be required by law, to update or revise any forward-looking statements to reflect future events or developments.

Fortrea Contacts:
Hima Inguva (Investors) – 877-495-0816, hima.inguva@fortrea.com
Sue Zaranek (Media) – 919-943-5422, media@fortrea.com
Kate Dillon (Media) – 646-818-9115, kdillon@prosek.com

Arsenal Contact:
Jackie Schofield at  pro-Arsenal@prosek.com

GlobeNewswire Distribution ID 9061141

Recursion Announces Plans to Open New Office in London

Appoints Michael Bronstein as Scientific Advisor and launches recruiting effort to fill the first 20 open roles across technology and biology, establishing a hub for world-class TechBio talent in the heart of King’s Cross neighborhood

LONDON, March 11, 2024 (GLOBE NEWSWIRE) — Recursion (Nasdaq: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced plans to open a new office in London’s vibrant King’s Cross neighborhood. Set to formally open in June 2024, the site will provide Recursion and Valence Labs, the company’s artificial intelligence research engine, access to world-class talent across Europe’s rapidly growing TechBio sector and embed Recursion in a thriving innovation ecosystem of leading technology and life science companies.

“As Recursion continues to lead and define the TechBio industry, it’s critical we hire the best possible talent, much of which is located in Europe,” said Chris Gibson, Ph.D., Co-founder and CEO at Recursion. “London stood out as an ideal location given its brilliant and interdisciplinary talent across the fields of technology, biology and chemistry. It’s also the epicenter for the rapidly growing TechBio sector in Europe, where leading technology and life science companies like Google and Merck both sit within walking distance of our new Recursion site. I look forward to expanding our operations in Europe and hiring many new Recursionauts who will help us advance our mission of decoding biology to radically improve lives.”

To support Recursion’s leadership in TechBio and entry into London, the company is excited to announce the addition of Michael Bronstein, DeepMind Professor of Artificial Intelligence at Oxford University, as a Scientific Advisor. Professor Bronstein is a world leader in geometric deep learning, graph neural networks, and protein design. Professor Bronstein joins AI luminary Professor Yoshua Bengio in supporting Recursion and Valence Labs in the development of state-of-the-art AI models to support the industrialization of drug discovery.

“Recursion is leading the field in advancing cutting-edge AI research for real-world applications with the potential to radically improve lives, and I’m honoured to join them in their mission,” said Prof Michael Bronstein. “I have collaborated with Valence prior to their acquisition by Recursion, and I look forward to continuing to work with the team to advance this important work, especially as Recursion continues to grow in London.”

Recursion’s 6,700 square foot London office will be located at 3 Pancras Square, King’s Cross London. The building is part of a 67-acre redevelopment project in the heart of King’s Cross, with over 4.5 million square feet of office space. Located within a 3-minute walk from King’s Cross Station and St. Pancras International, the site offers excellent transit access. The building includes an onsite cafe, bicycle storage, showers, prayer room and mothers room. In line with Recursion’s commitment to sustainability, the building meets the requirements for an “Excellent” rating by BREEAM building standards and is linked to a site-wide district heating and cooling network that results in net-zero carbon emissions.

“The UK Government’s plan for attracting more inward investment into the UK is working. Recursion’s investment is yet another vote of confidence in the UK, our top talent and our amazing tech and life sciences industries,” said Investment Minister Lord Johnson. “I’m delighted Recursion has chosen London, and we’ll continue to do everything we can to ensure the UK remains the top choice for investments like this.”

Today, Recursion has over 500 employees with a near-equal mix of life scientists and technologists across sites in Salt Lake City, Toronto, Montréal, and the San Francisco Bay Area. Recursion’s new London office will serve as an extension of both Recursion and Valence Labs’ teams. To launch recruiting efforts for the new site, Recursion has opened multiple new roles across technology and biology functions with immediate plans to hire the first 20 people to be based out of the new London office. Recursion and Valence Labs will also host a TechBio Mixer tomorrow, March 12, at the location of its new site to celebrate the office and network with the TechBio community.

For more information on open positions and to apply, visit recursion.com/careers and valencelabs.com/careers.

About Recursion
Recursion is a clinical stage TechBio company leading the space by decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological, chemical and patient-centric datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology, chemistry and patient-centric data to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montreal and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.

Media Contact
Media@Recursion.com

Investor Contact
Investor@Recursion.com

Forward-Looking Statements
This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding the opening of the London office and timing of such opening; the recruitment efforts and number of roles at the London office; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “could,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2023. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

GlobeNewswire Distribution ID 9060948

President Kais Saied exchanges Ramadan greetings with Emir of Qatar


President Kais Saied and Sheikh Tamim bin Hamad Al Thani, Emir of the State of Qatar, exchanged congratulations on the occasion of the holy month of Ramadan.

The President had exchanged congratulations with his Algerian and Egyptian counterparts on the same occasion on Sunday.

Source: Agence Tunis Afrique Presse

HAFF congratulates Ben Hania on her success in entering Oscars race


Hours after winners of the 96th Academy Awards (Oscars) were announced on Sunday night, the Hollywood Arab Film Festival (HAFF) congratulated Tunisian filmmaker Kaouther Ben Hania on her success in entering the race, even though her film “Four Daughters” did not appear on the list of winners among the 321 films competing in 25 categories.

“Her success as well as that of the film, Four Daughters, with the international buzz it made is a huge achievement for the Arab film industry,” the HAFF said.

“Even though the film didn’t win in its category, we’re proud of her achievement of making it to the Oscars nominations,” it further said. “We look forward to more films from the Director and we cheer her on in her filmmaking journey.”

Source: Agence Tunis Afrique Presse

Nahouri/March 8, 2024: Women of the commune of Guiaro in solidarity with the FDS and VDPTheme of 2024 prize for best female scientific research is circular economy and sustainable development

Nahouri: The Departmental Coordination of Women of the commune of Guiaro, a locality located about thirty km west of the town of Pô, organized on March 8, 2024 in Guiaro, a health day at the Center of health and social promotion (CSPS) of the said municipality and made donations in kind and in cash to the FDS and VDP, as part of the commemoration of March 8, 2024.

The Departmental Coordination of Women of the commune of Guiaro, a locality located about thirty km west of the town of Pô, organized on March 8, 2024, a sanitation day at the Health and Social Promotion Center (CSPS) of the said municipality.

At the end of this activity, the women gave donations in kind and in cash to the Defense and Security Forces (FDS) and the Volunteers for the Defense of the Fatherland (VDP) of Guiaro.

The donation consists of four 25kg bags of rice, a 20 liter can of oil and a sum of 41,800 CFA francs for the purchase of condiments.

‘By this gesture, the departmental coordination of women of Guiaro responded to the call o
f the highest authorities of the country to contribute to the war effort by supporting the fighting forces engaged in the reconquest of the national territory,’ indicated the coordinator , Mariama Idogo.

She added that the sanitation day aims to make the CSPS environment clean and hygienic in order to allow health workers and patients to be in a healthy environment.

Ms. Idogo took this opportunity to invite each daughter and son individually and collectively to show their solidarity and support for the fighting forces.

The president of the special Guiaro delegation, Monique Bazié, welcomed the coordination initiative.

She invited other associations to support this chain of solidarity towards the FDS and VDP who left their families to defend the homeland.

‘The customary and religious authorities came to support the women and also to bless the fighting forces engaged in the defense of the homeland,’ said the traditional chief of Guiaro.

Source: Burkina Information Agency

The theme of the 2024 prize for the best scientific research will be “the circular economy and sustainable development in Tunisia.”

This was announced by Minister of the Family, Women, Children and the Elderly, Amel Belhaj Moussa, at a meeting held at the ministry’s headquarters on Monday.

In a statement, the Ministry of the Family said that the theme was chosen because of the importance of the circular economy and sustainable development at the national level, which has been the subject of numerous studies and research projects.

The aim of the prize is to highlight the value of women’s scientific research and promote their scientific careers, it added.

‘The number of applications reached 58 last year,’ according to the same statement.

The meeting was attended by members of the committee responsible for evaluating the prize, representatives of the Ministries of Agriculture, Higher Education and Communication Technologies, university lecturers and several ministry officials.

The prize for the best female
scientific research, worth 15,000 dinars, is awarded on the occasion of National Women’s Day, which is celebrated every year on August 13.

Source: Agence Tunis Afrique Presse

Violent extremism: UNDP-Tunisia launches call for proposals for creation of research fund


The United Nations Development Programme (UNDP) announced the launch of a call for proposals for the creation of a research fund under the TARABOT – Cohesion to prevent violence project.

The fund is aimed at fostering a shared understanding of concepts relating to violent extremism and relevant prevention strategies, in partnership with the National Counter-Terrorism Commission (CNLCT) and the Higher Education and Scientific Research Ministry.

This call for proposals is intended to produce scientific articles that support the development of action and advocacy strategies useful for public action, reads a UNDP-Tunisia press release.

It is geared towards Tunisian researchers in public research or higher education institution (doctoral students, postdoctoral researchers, PhD holders , including senior lecturers) or independent researchers (PhD holders).

The UNDP’s financial support under this call for proposals is capped at TND 26,000/research project and is intended for research projects to be carried out t
hroughout Tunisia.

The deadline for application is set for March 31.

Source: Agence Tunis Afrique Presse

Weather cloudy, temperatures down


The weather Monday is cloudy with scattered showers expected in the north, getting temporarily stormy in the far north and locally in the midland.

The wind is blowing west relatively strong to strong near northern coasts and moderate to relatively strong elsewhere.

The sea is very choppy to choppy in the north. Temperatures are slightly down with highs ranging between 14°C and 19°C in the north and heights and 20°C and 25°C elsewhere.

Source: Agence Tunis Afrique Presse

Cumulative tourist receipts, expat remittances cover 44% of external debt servicing at end of February


Cumulative tourist receipts and expat remittances barely cover 44% of external debt servicing at the end of February 2024, according to figures released Monday by the Central Bank of Tunisia (French: BCT).

External debt servicing witnessed a staggering 160% surge, escalating from TND 1.7 billion at the end of February 2023 to TND 4.6 billion by the end of February 2024.

This is the result of the repayment on February 17 of the pound 850 million Eurobond (the principal sum) along with pound 47.8 million in interest, totalling pound 898 million (equivalent to TND 3 billion). This is the most significant proportion of external debt in the current year.

The next major repayment under Tunisia’s external public debt is scheduled for October 2024. This is a loan guaranteed by the Japan International Cooperation Agency (JICA) in 2014, requiring TND 1 billion in repayment, that is 5 days of imports.

Cumulative tourism receipts and expat remittances grew 11.3% (TND 858 million) and 5.3% (TND 1175 million), respecti
vely, in the first two months of 2024 compared to the same period last year.

This improvement contributed to net foreign exchange reserves rising 5% from TND 22.4 billion (equivalent to 97 days of imports) on March 8, 2023, to TND 23.5 billion (equivalent to 107 days of imports).

Source: Agence Tunis Afrique Presse

Call for applications launched for industrial enterprises to participate in “Partnering in Business with Germany” programme


The Ministry of Industry, Mines and Energy has launched a call for applications for industrial enterprises to participate in the new edition of the Tunisian-German cooperation programme “Partnering in Business with Germany” (2024), as the Tunisian Confederation of Industry, Trade and Handicrafts (French: UTICA) said on Monday.

Developed in collaboration with the German Federal Ministry for Economic Affairs and Climate Action, Partnering in Business with Germany programme aims to enhance logistical and commercial cooperation between Tunisian companies operating in the industrial and service sectors and their German counterparts.

This particularly involves training business leaders in such areas as production management, quality, marketing, and business plan development, so as to seal partnerships with German companies.

The programme also provides for tailored support over one year for Tunisian enterprises which will be selected, in addition to on-site visits to German companies.

Tunisian enterprises will a
lso have the opportunity to participate in specialised trade fairs in Germany under this programme. Participants will likewise be granted access to a platform featuring over 20,000 international companies.

Source: Agence Tunis Afrique Presse

Stock market: Tunindex closes Monday session almost in balance


The stock market closed Monday’s session almost in balance, falling slightly by 0.04% to 8704.76 points. Volumes remained modest at TND 1.5 million, according to the stock market broker intermediary Tunisie Valeurs.

CIL stood out during the session, topping the list of market leaders. On a trading volume of TND 18,000, the leaser’s shares gained 4.5% to TND 20.850.

UADH shares were among the session’s biggest gainers. The retailer’s share price rose 3.8% to TND 0.550, with the stock gaining TND 2,000 during the session.

SOMOCER shares saw the biggest fall of the session. With a limited flow of TND 8,000, the ceramic specialist’s shares fell by 3.2% to TND 0.600.

SOTETEL shares lost 1.4% to TND 4.140. The stock traded with a volume of TND 23,000 during the session.

CITY CARS was the most traded stock during the session. The stock rose slightly by 2.2% to TND 13, feeding the market with capital of TND 317,000.

Source: Agence Tunis Afrique Presse

Number of scientific publications up 20% in 2019/2022 (ministry)


The number of scientific publications grew 20% between 2019 and 2022, reads a booklet published by the Higher Education and Scientific Research Ministry. Tunisia took the 12th spot in world rankings.

The average of scientific co-publications with foreign countries saw a 58% rise over the same period. 23.5% of these co-publications involved France.

In 2022, the research attracted 25,803 members of research structures, including 13,802 researchers and over 11,000 PhD students and holders. 59% of these members are women.

In 2023, the number of research laboratories also rose to 501 from 491 in 2022.

These laboratories mainly specialise in engineering and technology (58%), agricultural and veterinary sciences (36%), exact and experimental sciences (3%) and humanities (3%).

However, the number of research units attached to higher education institutions and research centres fell sharply, with only 21 research units in 2023 against 92 in 2022.

Likewise, the 2022-2023 academic year saw a fall in the number of P
hD students which reached to 10,559, or around 4% of the total number of students enrolled in higher education institutions (260,000).

The number of PhD theses presented in 2022 also dropped 14% to 1,865.

Source: Agence Tunis Afrique Presse

Tunisia’s dams at 37.3% capacity as of March 11 (ONAGRI)


Tunisia’s dams hold water at an average of 37.3% capacity, as of March 11, 2024, data from the National Agricultural Observatory (ONAGRI) showed Monday.

The level of filling varies from dam to dam. Bouhartema dam leads with 64% capacity, followed by Sidi El Barrak (50%), Sidi Salem (42%), and Sejnane (32%).

Other dams show lower fill rates: Bir Mcherga (31%), Joumine (28%), Siliana (26%), Sidi Saad (22%), Mallegue (17%), and Nebhana (4%).

This translates to a total water reserve of 862.502 million cubic meters (m3) – a decrease of 132.756 million m3 compared to the same date in 2023 (995.258 million m3).

On March 11, 2024, inflows into the dams reached 3.290 million m3, with 3.277 million m3 feeding the northern dams. Conversely, total water usage from dams on the same day was 1.268 million m3, primarily drawn from the north (1.211 million m3) with a minimal amount from the center (0.057 million m3).

Source: Agence Tunis Afrique Presse

14th edition of BIO EXPO organic farming fair April 25 to 27 at UTICA headquarters


The fourteenth edition of the Bio EXPO organic farming and agri-food fair will be held from April 25 to 27, at the headquarters of the Tunisian Confederation of Industry, Trade and Handicrafts (UTICA).

Organised on the initiative of International Fairs and Exhibitions (IFE Tunisia), in partnership with the Directorate General of Organic Farming at the Ministry of Agriculture, Water Resources and Fisheries, this event will bring together Tunisian and foreign organic food producers.

At this year’s event, a pavilion will be dedicated to exhibitors who have obtained organic production certification, according to a press release issued by the IFE.

The event programme includes scientific conferences and educational sessions aimed at children to raise awareness of the benefits of organic food and its essential role in maintaining health.

In partnership with the Tunisian association ‘Olive Oil Women’s Network’, the third edition of the ‘Dido Internationale’ olive oil competition will be held at the same time.

More than 7,500 producers are active in the organic farming sector in Tunisia, cultivating more than 300,000 hectares of certified organic land, according to the Ministry of Agriculture.

Source: Agence Tunis Afrique Presse

Joint chambers of commerce call for review of investment and exchange codes


The need to review certain laws, including the investment and stock exchange codes, was the focus of a meeting held on Monday between a delegation of officials from the Joint Chambers of Commerce and Industry and Speaker of the Assembly of People’s Representatives (ARP), Brahim Bouderbela.

The delegation is made up of the presidents of the Council of Joint Chambers (CMM), the Tunisian-French Chamber of Commerce and Industry (CTFCI), the Tunisian-Italian Chamber of Commerce and Industry and the Tunisian-German Chamber of Commerce and Industry (AHK).

The members of the delegation called for the promotion of an investment-friendly environment that meets development needs, according to a parliamentary statement.

They expressed their willingness to cooperate with the Committee and to share their expertise and knowledge in the examination of the proposed new Exchange Code. In this context, they reviewed their proposals to be submitted during the review of the Code.

Bouderbela underlined the openness of the Parl
iament to different opinions and proposals and stressed that investment issues could be addressed within the framework of the Parliamentary Academy.

Source: Agence Tunis Afrique Presse