EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]
The sinking oil and gas revenues of Algeria no longer make it an “oil country” on par with Libya or Gulf countries, wrote financial news agency Bloomberg. Bloomberg, citing a number of Algerian experts and former officials warning of the dwindling export capacity of the country, stated that in ten years Algeria will be incapable […]
French culture minister Rachida Dati will be paying a visit to Morocco on February 16-18, during which she will visit the Southern Provinces, the Sahara, where she will inaugurate a French cultural center in Laayoune. The center was promised after France backed Morocco’s sovereignty over the Sahara, followed by a visit by French President Emmlanuel […]
