Commercial International Bank Egypt (CIB) is set to proceed with the complete takeover of Kenya’s Mayfair CIB, after obtaining approvals from authorities, in a deal valued at $40 million. The Central Bank of Egypt (CBE) and the Central Bank of Kenya (CBK) have just granted their consent for CIB to acquire the remaining 49% of […]
Algiers has made it intentions known to Cairo that deals involving natural gas could only be discussed in 2014, due to the need to develop production from new fields first. According to Egypt’s oil minister Osama Kamal, Algeria doesn’t have “enough quantities to be exported to Egypt.” Algeria’s decision was prompted by the fact that […]
Morocco has seized more than 681 kilograms of cocaine during the first seven months of this year after deploying an advanced digital monitoring system at border crossings, Interior Minister Abdelouafi Laftit said. In a written reply to a parliamentary question, Laftit explained that the Interior Ministry has made the fight against drugs and psychotropic substances […]
