Higher cocoa prices, due to catastrophic harvest in West Africa, triggered a surge of chocolate prices. About 60% of Cocoa, a key chocolate ingredient, is produced in West African powerhouses Ghana and Cote D’Ivoire, which both reported a sharp drop in output due to a devastating heatwave. Experts expect that chocolate prices would further rise […]
Morocco’s allies in the Gulf Cooperation Council, Saudi Arabia, the UAE and Bahrain, condemned Iran’s support for the Polisario separatists and welcomed the decision to sever ties with Tehran. Morocco announced Tuesday that it has cut diplomatic ties with Iran over its involvement in backing an alliance between Lebanese Shia militia Hezbollah and the Polisario […]
Finance Minister Mohammed Jallab has told Algerians that there is no need for alarm despite the low prices of oil and gas. He said the country is capable of handling such shocks. Algeria is a country that heavily relies on gas exportation. OPEC has decided not to cut its production in order to increase global […]
