First Independent Mena Newspaper
The European Union has reached out to the kingdom of Morocco to study possibilities to invest in the Morocco-Nigeria gas pipeline project that will connect up to Spain, in view of replacing Russia which is using its gas as political weapon. The move came after Nigerian President Muhammadu Buhari called on European Union countries and […]
The UK Foreign Affairs Committee has labelled Saddek Elkaber, the Governor of the Central Bank of Libya (CBL) “well-known financier of militias and gangsters” who runs a “troubled organization.” The committee’s bashing of the Libyan official comes after a meeting between Elkaber and Governor of Bank of England Andrew Bailey in July, Libya Update reports. […]
The governors of the central banks of Tunisia and Libya held Sunday talks in capital Tunis to improve cooperation between the two institutions. Marouen Abassi of the Central Bank of Tunisia (BCT) hosted his Libyan counterpart Seddik Omar Kébir. A statement from Libya’s CBL indicated the two governor discussed issues of mutual concern in “the […]
Saudi Arabia has posted a SR77.9 billion ($20.8 billion) budget surplus during the second quarter of 2022, representing 16 percent increase over the same period last year. The finance ministry said the state’s total revenues during the same period amounted to over SR370.4 billion, up 49 percent year-on-year, while expenditures stood at SR292.5 billion. Oil […]
The Suez Canal Authority (SCA) is considering listing three companies on the Egyptian Exchange (EGX) by the end of the year, Chairman of the SCA Osama Rabie said. Rabie, in an interview with Al-Arabiya, said that studies are underway with the finance and investment ministries and that the chosen companies are those that achieve the […]
Egypt’s Finance Minister Mohamed Maait has denied reports that the Arab Republic is seeking a $15 billion-loan from the International Monetary Fund (IMF) to shore up its finances. Goldman Sachs Group Inc. in a July report indicated that Egypt may need to secure $15 billion from the IMF to meet its funding requirements over the […]
Morocco’s trade deficit up to June surged to 150.5 billion dirhams or 14.6 billion dollars as the country sustains a heavy energy bill on the back of soaring commodities prices. The trade gap expanded 48.7% as the domestic economy recovers and demand grows on imports of semi-products and equipment required by the local industry increase. […]
Egypt is looking to attract $10 billion-foreign direct investments for the fiscal year 2022-2023, Arab Finance reports citing a report by the Ministry of Planning and Economic Development on the goals of the budget bill. The report says the government is also pursuing the creation of around 900,000 jobs annually to keep the unemployment rate […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
King Mohammed VI received Saturday at the Royal Palace of Rabat, Abdellatif Jouahri, Governor of Bank Al Maghrib, who presented to the Sovereign the central bank’s annual report on the economic, monetary and financial situation for the year 2021. In an address before the Monarch, Jouahri said that despite a difficult international context, the Moroccan […]