Al-Baraka-Islamic-Bank

State-run Sonatrach inks exploration & partnership MoU with Exxon

Gas and oil giant Sonatrach has signed a Memorandum of Understanding (MoU) with US Exxon to identify exploration opportunity in the North African country and to boost partnership between the two companies. Sonatrach made the announcement Monday on its website arguing that the agreement confirms the renewed dynamism of the Algerian mining sector, as part […]

Gaza: UN, Palestinians laud Moroccan King’s generosity

The United Nations has lauded the “generosity” of King Mohammed VI, Chairman of the Al-Quds Committee, following the dispatch of “significant” additional humanitarian aid to the people of Gaza. “We commend the generosity and decision of HM King Mohammed VI to send significant humanitarian aid to the people of Gaza,” Stéphane Dujarric, spokesperson for the […]

Egypt: Controversy around a new tax

The Egyptian government has made another U-turn after a lot of pressure from investors. The government decided to unveil a 10% tax on stock dividends and investment gains from takeovers in December 2012, but the decision wasn’t welcomed by investors. The government says it is part of the austerity measures that should be implemented to […]