First Independent Mena Newspaper
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 […]
Casablanca Finance City or CFC has won 11 positions in the new ranking of the Global Financial Centers Index (GFCI) released on Monday at a ceremony hosted by the CFC authority in Casablanca. With this new ranking of 83 financial centers, Casablanca Finance City has moved up from the 62nd place it held last March, […]
Tunisian state owned oil and gas exploration and production company, Entreprise Tunisienne d’Activités Pétrolières (ETAP), will be benefitting from a $75 million corporate loan from the African Development Bank. The loan was approved by the Bank’s board of directors last month. The fund will be directed to the funding of the Nawara project as part […]
Egypt’s Minister of Investment Ashraf Salman has shown his determination to revive the economy if there is political stability. He has fixed the bars for his term in office as he set his sights on increasing the Foreign Direct Investment (FDI) by almost 100%. In 2008, Egypt’s FDI reached $13,2billion but shrunk drastically after the […]
An official of the Japan International Cooperation Agency (JICA) has revealed that Japan and Tunisia have reached an agreement for the financing of development projects at the tune of 72billion Japanese yen. The amount is divided among 11 medium-sized loans. The loan condition is considered to be more suitable for the concerned projects. The Central […]
L’Office Chérifien des Phosphates (OCP,) the Moroccan State-owned phosphates company, said last week it raised $ 1.55 billion in the first international bond issue having a solid emitter notation organized by an African company outside South Africa. OCP thus sold 10-year bonds to yield 5.625 percent for $1.25 billion and $300 million worth bonds that […]
Spokesman Omar Hmeidan of the General National Congress has said that Libya will be taking a 2,55 billion Libyan dinar emergency loan to finance the functioning of the government after lack of income. Libya’s main source of income is oil and gas but the rebels have laid siege on several oil ports and fields thereby […]
Mehdi Jomaa, Tunisia’s Prime Minister, announced that the government was facing a harsh financial situation that required sacrifices from all Tunisians. This “confession” came during his first televised appearance since he took the office in December last year. In his own words, the situation is much more complicating than they thought and therefore sacrifices will […]
The European Bank for Reconstruction and Development (EBRD) has lent the National bank of Egypt (NBE) US$ 50 million to help and encourage Egyptian companies engage more in international trade operations. This trade credit line is the second part of a US $ 100 million facility, the first part of which comprised a US$ 50 […]
Tunisian authorities are under pressure to reduce the hardship on the population as public protests continue to increase. The government said it is trying to convince the International Monetary Fund (IMF) for half a billion dollar loan in order to take the necessary actions. The looming elections could slow IMF’s decision. Finance Minister Ilyas Fakhfakh […]