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Algeria’s Army Chief sparks diplomatic crisis with Riyadh after declining invitation for Umrah Pilgrimage

Algeria’s army Chief Gen. Said Chengriha has sparked a serious diplomatic crisis with Saudi Arabia after he rejected an invitation to perform Umrah pilgrimage, an act of generosity offered by Saudi authorities to all visiting Muslim leaders and seniors officials. Chengriha was invited to the spiritual journey with his accompanying delegation while he was visiting […]

Nothing’s free: skepticism grows over China’s debt forgiveness

Skeptics say that despite China’s agreement to forgive interest-free loans to 17 African countries as it seeks to dispel debt-trap allegations, the days of Beijing writing off interest-bearing loans are over. The world’s poorest countries — many of them in Africa — are facing $35bn in debt-service payments in 2022, out of which around 40% […]

Morocco’s Strategic Investment Fund to give priority to productive activities

The $4.8 billion strategic investment fund, set up part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact, will give priority to productive activities and back up the financing of major investment projects, said, on Tuesday in Rabat, Minister of Economy & finance Mohamed Benchaâboun. […]