The Central Bank of Egypt (CBE) abolished a February 2022 circular requiring the use of letters of credit for imports, and allowed the use of collection documents instead, Arab Finance reports. The CBE in a late December circular scrapped the letter of credit which provides an irrevocable guarantee to the exporter that the importer’s bank […]
Somali tribal militia backed by the Somali government have pushed al-Shabab terrorists out of large parts of the country’s central area in the latest gains in a large-scale offensive, the country’s state media said on Monday. The offensive was launched in the Hiran region a few weeks ago against the militants, liberating several key townships […]
King Mohammed VI approved a government where politically non-affiliated ministers took key security, defense, foreign affairs and religious affairs portfolios while Ministers of liberal RNI maintained their positions in Key economic ministries. The composition of the new cabinet drew criticism to the head of the government Saad Eddine El Othmani who was blamed for giving […]
