Ex-Mozambique minister extradited to US, pleads not guilty in $2bn fraud

After nearly five years in detention in South Africa, former Mozambican Finance Minister Manuel Chang was finally extradited to the US on Wednesday (12 July) where he was arraigned in a court in New York on Thursday (13 July) to face a fraud and corruption trial over a $2 billion scandal involving fraudulent government loans. […]

Chinese firm to construct Ethiopia-Djibouti 767 km-long gas pipeline

China’s Poly-GCL Petroleum Group Holdings Limited will build a 767 km gas pipeline between Ethiopia’s eastern Ogadem Basin and an export terminal on the Red Sea, Ethiopian Ministry of Mines and Petroleum said. Ethiopian and Djiboutian government officials agreed that Poly-GCL would begin construction of the pipeline project this year, the ministry said. Last April, […]

Algerians’ purchasing power continues to erode

The surge in inflation led to the erosion of the purchasing power of Algerians in a country suffering a shortage in foodstuff, medicine, and water. The salaries of 2010 lost half their value today amid a steep rise in prices of main grains and foodstuff, TSA and other Algerian media said. The situation has deteriorated […]