Egypt-based online payment service Fawry denies connection with Silicon Valley Bank

Egypt’s leading e-payments solutions provider Fawry denied Monday any affiliation with Silicon Valley Bank (SVB), nor any of its subsidiaries, weeks after US authorities ordered the closure of SVB with the Federal Deposit Insurance Corporation (FDIC). The company in a press release also confirmed that it does not currently have any relationships with any bank […]

Algerian President manipulates and inflates economic indicators

Soon after announcing the retrieval of 20 billion dollars, President Tebboune drew mockery when he said that another 36 billion dollar amount was confiscated from a family that concealed it somewhere in vast Algeria. That brings the total sum of allegedly seized money to $56 billion, a sum that is about 35% of Algeria’s GDP […]

UAE to resume issuing visas to Nigerians

The UAE will resume issuing visas to Nigerian nationals following a ban that was imposed in 2022, after Nigerian authorities prevented Fly Emirates from repatriating funds. The decision was announced by Nigeria’s information minister Mohammed Idris, who added that the two countries would resume direct flights. “I can tell you that the agreement has been […]