Business Emerging Markets Finance

Russia expands its currency trading list to 40 countries, adding Nigeria, Tunisia and Ethiopia

The Kremlin has announced the expansion of the list of “friendly and neutral” African countries whose banks may now trade currencies and derivatives in Russia. By adding Nigeria, Tunisia and Ethiopia to the list, “the number of friendly and neutral countries whose credit institutions and brokers will be allowed to trade on the Russian foreign […]

Columns Europe Headlines International Morocco

Close collaboration between Rabat and Madrid led to arrest of seven suspected ISIS members in Spain

Spanish Civil Guard announced on Monday the arrest of seven suspected members of “Daesh” in security operations carried out in close collaboration with Morocco’s Directorate of Territorial Surveillance (DGST). Three suspects were apprehended in the province of Toledo thanks to intelligence provided by the DGST regarding a group of individuals at an advanced stage of […]

Business Emerging Markets Headlines Morocco

Morocco’s tourism receipts hit record $11.2 billion

Morocco’s tourism revenue grew 7% to 11.2 billion dollars thanks to increased arrivals, the tourism ministry said. With 17.4 million tourists visiting in 2024, arrivals were two years ahead of schedule or 20% higher compared with 2023, showing the country has turned the Covid-19 page thanks to major investments in its hospitality sector. Morocco plans […]

Business Emerging Markets Energy Headlines Libya

Libya: Oil companies warn of production setbacks due to delayed budget allocations

The Arabian Gulf Oil Company (AGOCO), National Construction, and Al-Jawf companies have issued a stern warning regarding the adverse effects of delayed operational budget disbursements, describing this as a significant barrier to projects aimed at boosting production. The companies raised these concerns during the first session of the General Assembly of the National Oil Corporation […]

Africa Community Headlines International

DRC: Rebel forces declare humanitarian pause in Eastern Congo crisis

In the shadow of last week’s devastating assault that claimed 900 lives, M23 rebels have announced a unilateral ceasefire in eastern Congo. The declaration comes as aid organizations scramble to reach hundreds of thousands of displaced civilians in and around Goma, a mineral-rich city of two million now under rebel control. Behind the streets where […]

Africa Headlines International

Somalia: Key ISIS commander surrenders in mountain stronghold

In a significant breakthrough for Somalia’s counterterrorism efforts, security forces have captured a high-ranking Islamic State commander known as “Laahoor” in the rugged Cal Miskaad mountains. The arrest comes just days after U.S. airstrikes rattled ISIS positions in the region, marking a decisive phase in Puntland’s weeks-long offensive against militant groups. Abdirahman Shirwac Aw-Saciid, who […]

Africa Headlines International

Uganda’s democracy tested as military trial of opposition leader sparks outcry

In Uganda’s tense political atmosphere, a landmark Supreme Court ruling has become the latest flashpoint in the case of Kizza Besigye, the opposition leader facing possible death penalty charges in a military court. The ruling, which declared civilian trials by military tribunals unconstitutional, has energized opposition figures demanding his immediate release. Besigye’s journey from disappeared […]

Europe Headlines International Morocco

Morocco’s King offers condolences to German President following death of Horst Köhler

King Mohammed VI has sent a message of condolences to President Frank-Walter Steinmeier of Germany following the death of former German President and former Managing Director of the International Monetary Fund (IMF), Horst Köhler. In his message, the Sovereign expressed his deep sorrow over the death of Köhler, highlighting that the Kingdom of Morocco honors […]

Algeria Columns Europe Headlines International

Algeria’s Tebboune indulges in ‘alternative facts’

The civilian façade of Algeria’s military regime, President Abdelmedjid Tebboune indulged in a new series of alternative facts during an interview with French paper L’Opinion, during which he practices Algeria’s favourite sports: conspiracy theories, blame shifting and fake news. Amid a brewing crisis with France, Tebboune mired himself in contradiction saying that Algeria will admit […]

Business Emerging Markets Finance Headlines Morocco

Investment push widens Morocco’s trade deficit

The ongoing development projects in Morocco meant the country had to import more equipment and semi-finished products in 2024, leading to an expansion of the trade deficit by 7.3% at 300 billion dirhams ($30 bln). Imports at $76.1 billion outweighed exports at $43 billion, the foreign exchange regulator said. Morocco’s leading exports were cars and […]