ARAB-Parliament

World Bank downgrades Algeria to lower middle-income status

The World Bank, the second largest international economic institution with the International Monetary Fund (IMF), has officially downgraded Algeria to lower middle-income status, a category of countries where income is considered “lower middle”. This new World Bank ranking is very bad news for Algeria, which is beginning to worry the international community because of its […]

Russian defense minister lauds Egypt’s fight against terrorism

Russian defense minister Monday hailed Egypt’s combat against terrorism noting also that the most populated Arab country plays a “key role in resolving political and economic issues in North Africa and the Middle East”, Russian news agency TASS reports. Sergey Shoigu hosted his Egyptian counterpart Mohamed Ahmed Zaki in Moscow for talks on cooperation between […]

Morocco’s Attijariwafa Bank profit hits record $950 million in 2024

Attijariwafa Bank reported a 26.6% increase in its annual 2024 net profit to 950 million dollars, amid an expansion of activity in Morocco and in African subsidiaries. The bank reported an 8% increase in loans to the economy in Morocco, raising its market share to 28.1% from 26.9% in 2023, it said in a statement […]