EU Commissioner for migration Avramopoulos

Egypt wavering over depreciation or depleting reserves

“Is it better to deplete the reserves or is it better to depreciate the pound?” The question was raised by Egyptian Investment Minister Ashraf Salman during a conference on Sunday, after the Central Bank announced earlier in the day that the net international reserves have fallen to $18.1billion. According to the Investment Minister, “at this […]

Total extends purchase of Algeria’s LNG

France’s energy giant Total has renewed for three years the purchase of liquefied natural gas (LNG) from Algeria’s energy company Sonatrach, Trade Arabia reports. Sonatrach will supply two million tons per year of Algerian LNG to the French market, primarily through the LNG terminal at Fos Cavaou. The deal, concluded in an extremely volatile market […]

Italian Premier Shuns Sending Troops to Libya

Italy’s Prime Minister Matteo Renzi Sunday ruled out sending Italian troops to Libya as suggested by American envoy to Rome who indicated that Italy could send 5,000 troops to help fight IS in divided Libya. Speaking at a talk show, Renzi dismissed the allegations that Rome was ready to parachute troops in war-torn Libyan to […]