Algereia imports

Algeria: Banks to re-schedule Coronavirus-hit companies’ loan instalments

Algeria’s central bank Tuesday issued a stimulus package including ability for retail lenders to defer loan payments for firms, which have been financially affected by the coronavirus crisis. Banks will continue to finance customers benefiting from loan payment deferrals, while reducing their minimum liquidity requirement to raise funding levels. The North African country has been […]

Algeria Jails 6, Fines Foreign Firms in Corruption Case

An Algerian court on Tuesday handed prison sentences to six people, ranging from 18 month suspended sentence to 6 years in prison plus fines, in a corruption case involving the country’s state-run oil firm Sonatrach. Seven defendants were acquitted while four companies, including Italy’s Saipem and the German Funkwerk, were also sentenced to fines ranging […]

Morocco, Spain & Portugal Mull Joint World Cup Bid

Morocco’s bid to host the 2030 world cup keeps spilling ink. After speculations of a joint North African organization between Morocco, Algeria and Tunisia, Moroccan papers are now speaking of underway preparations for an inter-continental bid between the North African Kingdom and its Iberian neighbors. According to Moroccan news outlet Al Yaoum 24, citing unidentified […]