US and Iranian presidents sign agreement to cease hostilities and reopen Strait of Hormuz
via Business News4 min read
The American and Iranian presidents remotely signed a memorandum of understanding on Wednesday evening, committing Tehran to immediately reopen the Strait of Hormuz and, in future negotiations, to dilute its enriched uranium in exchange for the lifting of international sanctions. This agreement aims to end the conflict that began on February 28 between the United States and Israel against the Islamic Republic, which has resulted in thousands of deaths, primarily in Iran and Lebanon. The accord, which includes the Lebanese front, was signed by Donald Trump, who was visiting France, and initialed by Iranian President Massoud Pezeshkian. French President Emmanuel Macron stated that the agreement paves the way for lasting peace and the reopening of the Strait of Hormuz. Pakistani Prime Minister Shehbaz Sharif, whose mediation was crucial, confirmed that the Strait of Hormuz would be "instantly" reopened and the American blockade of Iranian ports would end "immediately." Following the news, oil prices continued to decline. The head of the Iranian negotiation team, Parliament President Mohammad Bagher Ghalibaf, declared the agreement a "failure" for the United States. Naïm Kassem, Secretary General of the pro-Tehran Lebanese Shiite Hezbollah, called it a "great victory" for Iran, thanking them for including the Lebanese front. He urged the Lebanese government to cease direct negotiations with Israel. The agreement stipulates that the United States will suspend sanctions on Iranian
Free daily or weekly digest of the most important stories from across 18 African countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Business News.
During the Tunisian Association of Capital Investors ATIC annual conference on June 18, 2026, themed "AI and Sustainable Investment," ATIC President Salma Ben Hamida called for the renewal of a tax incentive crucial for financing and restructuring Tunisian SMEs. She emphasized that private equity complements, rather than replaces, bank credit by strengthening companies' equity, which many Tunisian SMEs chronically lack, hindering their access to bank financing. Ben Hamida highlighted that private equity provides strategic support and networking, actively participating in the transformation, development, and value creation of financed companies. In 2025, the private equity ecosystem raised 709 million dinars, bringing total funds under management to 5655 million dinars, with banking groups contributing nearly 78% of resources. Investments totaled 740 million dinars across 223 companies, startups, or SMEs, with 30% allocated to restructurings. The key message from ATIC is the extension of a tax measure introduced in 2019, which facilitates company restructuring through private equity funds and is set to expire on December 31, 2026. Ben Hamida warned that its discontinuation would weaken the sector's intervention capacity, impacting the market's ability to save businesses and preserve jobs. ATIC proposes extending this measure until 2031 or integrating it permanently into the tax system to provide investors with greater visibility. She cited that investments in restructurings in
Maher Ketari, president of the Finance Committee in the Assembly of People's Representatives, argued on June 18, 2026, for an exemption from the wealth tax for Tunisians residing abroad, despite his general opposition to the tax. He highlighted concerns from the Tunisian diaspora regarding Article 88 of the 2026 finance law, which applies to assets in Tunisia regardless of the owner's residence. Ketari emphasized the importance of maintaining strong ties with Tunisians living abroad, viewing it as a major national issue. He believes the expected revenue from taxing the assets of Tunisians abroad would be minimal, stating that a 0.5% or 1% contribution would not significantly benefit public finances and could harm relations with the diaspora. He also noted that international conventions to avoid double taxation already offer protections. Ketari reiterated his personal opposition to the wealth tax, recalling its initial rejection by the Finance Committee and in plenary sessions before being reintroduced by the government. He suggested that such taxation is more appropriate for advanced economies, arguing that a society still in economic development should focus on wealth creation before imposing further taxes.
Hervé Renard, the new coach of the Tunisian national football team, addressed his players for the first time on June 17, 2026, two days after his appointment. Following a significant 5-1 loss to Sweden in their World Cup opener, Renard emphasized responsibility, mental strength, and the need to recover. He stated that there is no time to waste in football and called for immediate re-mobilization, highlighting mental fortitude as crucial for the upcoming match. Renard reviewed the Sweden game, acknowledging the severe result but suggesting it did not fully reflect the match's content, noting Tunisia had several opportunities before errors accumulated. He believes the team is better than their recent performance, citing their strong, unbeaten qualifying campaign as evidence that the issue lies with their current mindset rather than potential. Renard stressed that the sole focus is the next match against Japan, dismissing discussions about qualification scenarios for now. He appealed to national pride, reminding players of their responsibility to supporters and the national jersey. Renard acknowledged the legitimate anger of Tunisian fans after the defeat and urged his team to confront it with character. His message concluded with a call for unity and a strong performance in the next game. Appointed on June 16 by the FTF until the end of the 2026 World Cup, Renard succeeded Sabri Lamouchi. The French coach, a two-time Africa Cup of Nations winner with Zambia and Ivory Coast, fac