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Chile closes its embassy in Algiers

Chili announced it will shut down its foreign mission in Algeria and four other countries by the end of 2020 in a move to reduce costs and scale up relations with other countries such has Belgium and Austria. The widely-circulated Chilean daily El Mercurio reports that Chile’s decision to close its embassy in Algiers threw […]

“Very difficult” 18 months ahead for African banks — Fitch 2022-23 Outlook

The next 12-18 months will be “very difficult” for African banks as widespread inflation, currency devaluations and interest-rate hikes sweep the region, a senior director of credit ratings agency Fitch said on Wednesday (21 September). African economies have struggled over the last year in the face of external forces including lingering effects from the COVID-19 […]

Indian IT giant HCL Technologies to invest in outsourcing sector in Morocco

Morocco and India’s technology giant Hindustan Computers Limited (HCL) signed over the weekend an agreement on an investment project meant to boost technology cooperation. In a joint communique released following the signing ceremony Saturday in Noida, India, the two partners indicated that the agreement underlines HCL’s determination to invest in Morocco in the outsourcing sector. […]