First Independent Mena Newspaper
The pandemic has increased Algeria’s “ongoing economic vulnerabilities” following a succession of adverse shocks since 2014, said the International Monetary Fund (IMF), affirming that” the outlook for Algeria remains uncertain and challenging”. Following a visit paid lately to Algeria wherein IMF staff held meetings with officials on the country’s economic developments and policies, the international […]
The kingdom of Morocco is expected to receive $9.3 billion this year in terms of remittances from Moroccan expatriates, representing the third largest on the continent, right behind Egypt and Nigeria, a World Bank report revealed. Compared with last year data, Morocco will witness a 25.76 per cent increase, according to data published in the […]
Moroccan and Portuguese business communities have agreed to set up a joint economic council to give a new impetus to bilateral trade, partnership and investment. The agreement was inked Monday in Casablanca by chairman of the Moroccan employers’ union Chakib Alj, Portuguese Secretary of State for Internationalization Eurico Brilhante Dias and vice-President of the […]
Morocco has purchased the Israeli “Skylock Dome system”, an anti-drone technology which allows the Royal Armed forces to detect an enemy drone, neutralize it by jamming its signal and destroy it with a laser gun. The announcement was made lately by Israeli newspaper Globes in a story highlighting the huge interest for Israeli defense solutions […]
French hypermarket Géant Casino will invest about $64 million (EGP 1 billion) in Egypt as part of an expansion plan, reports say. The company, a subsidiary of Groupe Casino, as part of the plans, will open 15 new supermarkets, hypermarkets, and express markets in the Arab country. The announcement came the company inaugurated its first […]
The capacity of Dakhla airport will be increased to one million passengers annually after its expansion from 3,000 m² to 10,000 m² to meet a growing demand for this Saharan hub which has become a popular destination for foreign tourists, diplomats and businessmen. According to plans unveiled lately by Morocco’s National Airports Authority (ONDA), the […]
Saudi Arabia and Libya will provide Tunisia a loan of $500 million each attached with affordable interests to help the North African country to overcome economic woes amid the ongoing political crisis. The news was revealed by Tunisie Numerique, which cited a source knowledgeable of the matter but who asked not be named because not […]
EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]
The implementation of the project to generalize social protection will be monitored by an inter-ministerial committee, whose creation was announced by head of government Aziz Akhannouch. Akhannouch who made the announcement during a cabinet meeting said the inter-ministerial committee is the starting point for the operationalization of this unprecedented royal social project, stressing the solicitude […]
The Central Bank of Libya (CBL) and its Tunisian counterpart BCT have inked a Memorandum of Understanding (MoU) for cooperation in many areas including fintech, Libya Herald reports. The MoU, according to the CBL, provides for the transfer of experience of Tunisia’s Central Bank in the field of developing financial transactions (Fintech), and the […]