Algeria: Court upholds prison sentences against former Prime Ministers charged with corruption

An appeals court in capital Algiers Wednesday confirmed the jail term sentences against former Premiers charged with corruption. Ahmed Ouyahia and Abdelmalek Sellal were sentenced respectively to 15 and 12 years in prison last December after they were charged with misappropriation of public funds, abuse of power and granting undue privileges. Both were Prime Ministers […]

Concord International Investment mulls plans to set up healthcare investment company in Egypt

Concord International Investments, a company providing investment management and supervisory services to high-net-worth individuals, banks, thrift institutions, and other investment companies from its headquarters in New York, is planning to establish a healthcare investment company in Egypt with a capital of $40 million. Chairman Mohamed Younes has told Asharq Business that investments will be directed […]

BCP Bank, AfDB Join Efforts in $100 mln Deal to Enhance African Trade

Morocco’s BCP Bank and the African Development Bank teamed up in a $100 million agreement to boost trade between African countries. The deal (risk participation agreement) provides for cooperation to promote trade between African states by meeting the growing demand on financing transactions in the continent, the Moroccan bank said in a statement. The BCP […]