First Independent Mena Newspaper
Japan will release to Egypt $301 million to finance the implementation of phase one of Cairo Metro’s fourth line. The related agreement was signed between Egypt’s Minister of International Cooperation, Rania El-Mashat and the Minister of Transport, Kamel El-Wazir, and Japan’s Embassy in Egypt and the Japan International Cooperation Agency (JICA), Mubasher reports. The funds […]
Kenya Airways, Kenya’s national carrier, owes Kenya Airports Authority (KAA) 4.62 billion shillings ($37.5 million) as of June 30, 2022, up by 377.55 million shillings in the previous year, reports say. The outstanding according to the Airports Authority account for 40% of the 11.64 billion shillings owed by other enterprises and airlines operating in facilities. […]
Moroccan farmers are breathing a sigh of relief after recent rainfall that dissipated the prospect of extreme drought and helped improve dam filling rates. Moroccan dams are on average 34% full on December 28 after the filling rate dropped to near 20% leading to a halt of irrigation in many key agricultural regions. Rainfall is […]
Angola’s Supreme Court ordered Tuesday the preventive seizure of assets of Isabel dos Santos, daughter of former president Eduardo dos Santos, Africa News reports. The court order targets 100 percent of the shares of the company Embalvidro, of which the defendant is the beneficial owner as well as the balances of all bank accounts owned […]
Germany’s Development Bank (KfW) will provide Morocco’s National Office of Electricity and Drinking Water (ONEE) additional €52.6 million including €3.1 million grant for drinking water projects to be carried out in the North African Kingdom. The new funding and grant agreements were signed Tuesday by ONEE Chief Abderrahim El Hafidi and KfW Director Water & […]
Inflation will continue to soar in Tunisia reaching 10.5 pc in 2023 against 8.3 pc expected in 2022 deepening further the economic and political crisis rocking this country. The announcement of the inflation projection was made by Tunisian economy minister Samir Saeed at a press conference. “2023 will be a difficult year”, said the minister, […]
Zimbabwe has banned the export of raw lithium from its mines so it can cash in on value addition and stop losing billions of dollars in mineral proceeds to foreign companies. The new regulation is designed to “ensure that the vision of the president to see the country becoming an upper-middle income economy has been […]
Shell will pay 15 million euros in compensation to Nigerian farmers for oil spills that severely polluted three villages in the Niger Delta, the oil giant has said in a statement. A court in The Netherlands ruled in 2021 that Shell’s Nigerian subsidiary was liable for damages resulting from the spills and ordered the oil […]
A mission led by a multidisciplinary team from the International Monetary Fund (IMF) highlighted Bank Al-Maghrib’s (BAM) transparency practices. This mission focused on examining the bank’s transparency practices in five areas, relating to “Governance”, “Policies”, “Operations”, “Results” of these policies, as well as the “Institutional Relations” it maintains with national and international bodies, the central […]
Bahrain’s Al Baraka Group (ABG), one of the major Islamic banking and financing institutions, announced on Monday that it is exiting from two of its subsidiaries, Bank Al-Tamweel Wa Al-Inma (BTI) in Morocco and Itqan Capital, an investment company in Saudi Arabia. Its 43.6 pc stake in BTI will be sold to Moroccan Bank of […]