migrants at sea

Algeria’s Foreign Reserves to Further Shrink to $97 bln in 2017

Battered by falling oil and gas revenues, Algeria’s foreign exchange reserves are expected to further shrink to $97 billion, down from $193 billion in 2014, official data shows. With the slump in oil prices, the rest of the Algerian economy can’t generate the foreign exchange needed to pay for imports as oil and gas represent […]

Libya: UN Security Council and EU worried about elections

With barely less than 48hours before the opening of the polls for the legislative elections in Libya, the United Nations Security Council and the European Union have expressed their concerns about the situation in the country. The elections are being held at a time when rebels control certain parts of Libya with the government struggling […]

Egyptian manufacturer to build 1,965 MW plants in UAE

The Egyptian El Sewedy Electric Co. SAE, through its subsidiary Elsewedy Power, has been awarded the construction of two power projects with a combined capacity of 1,965 MW in the United Arab Emirates. The implementation of these projects will be done in collaboration with other world-class energy entities such as Siemens, according to Ecofin News […]