Egypt: US embassy staff banned from visiting religious sites outside Cairo

The US embassy in Cairo Monday instructed its staff to avoid religious sites outside Cairo as attacks against Coptic Christians multiply. The embassy said on its website that risk for possible additional attacks is still high. “Terrorists have attacked targets associated with the Christian community in Egypt. Incidents have occurred in both urban and isolated […]

Algeria’s budget revenues plunge, raising alarms over fiscal sustainability

Algeria’s public finances are under mounting pressure after a dramatic drop in budget revenues in 2024, driven by falling hydrocarbon income and sluggish non-oil tax collection, according to the Bank of Algeria’s. Total budget revenues fell by 22.66% year-on-year, with hydrocarbon revenues plunging by 31.13% and non-hydrocarbon revenues declining by 13.50%, the Bank said in […]

Morocco’s Holmarcom group takes control of Credit du Maroc Bank

Morocco’s Holmarcom group has taken control of Credit du Maroc, a subsidiary of French bank Credit Agricole. Holmarcom has bought all the 78.7% stakes owned by Credit Agricole in its Moroccan branch, in a move to strengthen its foothold in the finance and insurance business. Morocco’s Wafa Assurance and other stakeholders own 10.73% and 10.56% […]