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Algeria suffers its first 2024 diplomatic setback as it clutches at South Africa’s straw

Algeria and its ally South Africa have both ensued a painful diplomatic setback when Morocco won the presidency of the UN Human Rights Council by a comfortable majority of votes. The two resource-rich African countries have waged a campaign against Morocco’s bid using all sorts of propaganda in defiance of an African consensus backing Morocco’s […]

Egypt’s Suez Canal Bank to pull out of Middle East Oil Refinery

The publicly listed company, Suez Canal Bank, says it will withdraw entirely from Middle East Oil Refinery (Midor), Zawya reports. The operation will generate $30.4 million for Suez Canal Bank as 1.27 percent stake (560,000 shares) will be sold to Egyptian General Petroleum Corporation (EGPC) at $54.7 per share. The financial service institution posted a […]

Isolated Algeria seeks Iran’s help as Trump applies ‘maximum pressure’

Algeria and Iran, two states in the same sinking boat, ask help from one another. That is the summary of a visit to Algeria by Iranian Foreign Minister Abbas Araghchi in a bid to foster their alliance, amid deepening isolation in their respective regions in a context marked by Trump administration’s pressure on both countries […]