AU chief calls for ‘positive competition’ from Europe in bid to counter China’s growing clout

As African leaders converged on Germany’s capital earlier this week to attend the G20 ‘Compact for Africa’ meeting, the African Union (AU) chief called for “positive competition” from Europe in the continent, which would be more welcome than its criticism of Chinese investments for saddling poor countries with huge debts. While addressing the high-level meeting […]

Algeria’s Ghar Jbilet iron project, when Hollywood meets heavy industry

In a ceremony that could best be described as “Hollywood meets heavy industry,” Algeria this week unveiled its brand-new Ghar Djebilet–Béchar railway line, the first infrastructure project in the world designed to transport a mine that, so far, exists mainly as a PowerPoint slide and a dream. The ribbon-cutting took place somewhere in the vast […]

Algeria’s foreign exchange reserves plunge amid drop in oil revenues

Algeria’s public debt rose to 45% of GDP while its foreign exchange reserves continue to shrink on the back of falling oil prices in international market boding ill for the social peace of a country where dissent is growing. Newly appointed Prime Minister Abdelaziz Djerad sounded the alarm bell recently while speaking to MPs about […]