Moody’s downgrades Egypt’s rating to ‘B3’

Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]

Moroccan-French ties need a fresh revamp

Since the visit by French President Emmanuel Macron to Morocco in Nov. 2018 to launch a high-speed train not much has been achieved in political ties between the two countries, leading analysts to argue that the current form of bilateral ties has hit the limit. France remains the first investor in Morocco with French automotive […]

Nigeria: Fuel tanker explosion claims at least 70 lives

At least 70 people have died in north-central Nigeria after a gasoline tanker overturned in the early hours of Saturday and exploded as locals attempted to salvage its fuel. According to eyewitnesses, community members rushed to the scene once the tanker crashed, hoping to collect leaking gasoline for personal use. A generator was then started […]