LIBYA-CONFLICT-OIL

Moroccan banks report record profit in 2024

Moroccan banking activity improved in 2024 with major banks reporting record profits totaling $2.3 billion, a 21.3% increase compared with the previous year. The net profit attributable to shareholders rose by nearly 20% to 19.2 billion dirhams ($2 bln). The growth was spurred by the recovery in banking activity, cost reduction, and contained risk cost. […]

Algeria-Germany: Merkel wants deportation of illegal Algerian migrants

German Chancellor Angela Merkel Tuesday urged Algeria to quickly enforce the deportation agreement signed between the two countries so that Algerian migrants denied asylum could return home. According to press reports, Angela Merkel is getting concerned by Algiers’s foot-dragging to execute the deportation of Algerian nationals who have been denied asylum. Media also report that […]

Egypt ordered six AASM Hammer missiles from French Sagem

The French company Sagem said it has signed a major contract with the Egyptian Ministry of Defense for AASM Hammer air-to-ground missiles to be deployed by the Egyptian air force. This new contract comes just after Egypt purchased 24 Rafale omnirole fighters from Dassault Aviation. “We will deliver the first AASM Hammer missiles by the […]