Omar Hilale

Egypt’s bond rating lowered by Moody

Moody, a Credit-ratings agency has downgraded Egypt’s government bond ratings by one notch from B2 to B3, citing the intensification of civil unrest and sliding foreign exchange reserves. It also added that it is maintaining the rating on review for further possible downgrade. According to the agency, the reason behind the decision “is the country’s […]

Russian ‘Bear Brigade’ troops exit Burkina Faso due to Ukraine’s Kursk incursion

The Russian private military company Bear Brigade has confirmed earlier reports by the French daily Le Monde that it had departed from Burkina Faso after arriving in the country in May. The 100-strong Bear Brigade, with links to Russia’s Defense Ministry, is withdrawing its fighters from the conflict-torn West African country due to Ukraine’s incursion […]

Morocco showcases Atlantic ambitions at IMO assembly in London

Morocco is positioning its Atlantic coastline as a strategic gateway for trade and regional integration, Transport and Logistics Minister Abdeslam Kayouh told the 34th session of the International Maritime Organization (IMO) Assembly in London. “Maritime transport is a strategic pillar of Morocco’s economy,” Kayouh said, noting that over 96% of the kingdom’s foreign trade moves […]