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Egypt inks ‘historic’ $35bn deal with UAE, hoping to ease dollar squeeze, save economy

Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]

Tunisia Extends State of Emergency until February 21

Tunisian authorities have extended the state of emergency until February 21 as the threat of terrorism in the country remains high in the North African country. Following the beach terror attacks perpetrated last July in Sousse killing 38 foreign tourists, including 30 Britons, Tunisian president Beji Caid Essebsi declared a 30-day state of emergency. Five […]

BMW signs 5-year cobalt supply deal with Morocco’s Managem

The German automaker, BMW, said Thursday that it plans to buy cobalt for the production of its electric vehicles from Moroccan mining company Managem Group as part of a five-year contract worth around €100 million ($113 million). The deal follows a memorandum of understanding on the direct purchase of cobalt signed between the two parties […]