First Independent Mena Newspaper
Abdul Magid Breish, once the undisputed leader of the Libyan Investment Authority (LIA), has warned that the country’s $67 billion sovereign wealth fund should continue to be frozen “until we have total stability.” Four chairmen are claiming to be representing LIA for the past two years but Breish stressed that the two rival governments and armed […]
Algeria’s foreign exchange reserves plummeted by half in the first quarter of 2015 due to the fall in global crude oil prices, the country’s central bank said. The forex reserves went down by $ 19.02 billion to $159.9 billion in the first quarter of 2015, Algerian central bank added, noting that the sales of hydrocarbons […]
British Prime Minister is expected to ask lawmakers Monday to consider increasing the defence budget as such an increase is necessary to face up the threat posed by the Islamic State threat and to protect the country. Prime Minister David Cameron will also discuss with Defence Security Chiefs means of boosting the defence budget and […]
Abu Dhabi Islamic Bank PJSC, the United Arab Emirates’ second-biggest shariah-compliant lender, is planning expansion in Africa markets to tap demand in countries with a large Muslim population. In Africa, The bank has “looked closely” at Algeria and Morocco, Chief Executive Officer Tirad Mahmoud told reporters. “We are actively visiting locations where we may be […]
The African Export-Import Bank (Afreximbank) has agreed to extend Egypt a $ 500 million credit line to support its trade projects and exports to other African countries. The deal was confirmed by the Egyptian Trade Minister Mounir Fakhry Abdel-Nour on the sidelines of the economic summit held earlier this week in the resort of Sharm […]
Turkish authorities have announced on Wednesday to keep their commitment for aid support to Gaza after the World Bank irritated Ankara for failing to fulfil its commitment made during the Cairo Conference in 2014. Turkish foreign Minister’s spokesman, Tanju Bilgic indicated on Wednesday that his country has already planned $75.6 million aid to Gaza in […]
A 40-page analysis report drafted by Steen Lau Jorgensen, World Bank’s director for Gaza and the West Bank, has highlighted that Gaza’s economy is “on the verge of collapse” due to restrictions, poor governance and internal struggles. The report described Gaza’s economy as the worst in the world with almost half of the 1.8million people […]
The World Trade Organization has chosen Marrakesh, its birth place, to celebrate its 20th anniversary through the organization this April 8-9 of a high-level conference on the topic “WTO 20 years: celebrating successes, meeting challenges to come.” The conference, to be attended by the WTO Director-General Roberto Azevêdo and some 40 African Trade Ministers, will […]
The Moroccan banking group Attijariwafa Bank plans to transform its subsidiary Dar Assafaa into an Islamic financial institution according to the group’s CEO. Kettani said that the Attijariwafa Bank Group is transforming its subsidiary Dar Assafaa into a full Islamic bank, with its independent identity. In this context, the banking group belonging to the Royal […]
The US Automaker Ford became last week the 60th international company to establish regional headquarters in Casablanca Finance City. Ford which has just obtained the CFC status will base the African regional headquarters of its branch, the Ford International Business, in Casablanca Finance City wherefrom it will manage its operations across the continent. The CFC […]