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Egypt: decline in Hermes profits

One of the biggest investment bank in Egypt has reported an 18.8 % decline in its net profit for the first nine months which fell to 232.1 million Egyptian pounds ($38 million) from 286 million pounds. EFG Hermes made this announcement in report of its third quarter consolidated financial results. EFG Hermes said its net […]

Moroccan FM on European Tour to Explain Latest Developments in Sahara Issue

Moroccan Foreign Minister Nasser Bourita is currently touring a number of European capitals to explain to his interlocutors the latest developments of the Sahara issue, following the incursions of the Algeria-backed Polisario in the buffer zone, east of the Moroccan defense berm. Bourita’s talks are also covering ways to strengthen partnership between Morocco and the […]

Burundi shuts down Rwanda border, suspends diplomatic ties amid rising tensions

Relations between Burundi and Rwanda have taken another downturn after the former announced on Thursday (18 January) that it had suspended diplomatic ties with its neighbor and unilaterally closed its border. The move came last week, after the Burundi government accused Rwanda of supporting a Burundian rebel group known as RED-Tabara that is based in […]