First Independent Mena Newspaper
The Middle Eastern and North Africa (MENA) countries will invest 755 billion dollars in energy projects in the next five coming years despite the falling oil prices, according to an economic study released on the 4th February 2015. Approximately 42% of these investments of USD 316 billion will be spent in power generation, 31% from […]
The Swiss hotel group Belhotel International plans to set up in Morocco, Egypt, and Tunisia in 2015 as part of an expansion plan in the Middle East & North Africa (MENA), said the group leader. “We want to enter into new markets, including Turkey, Egypt, Tunisia and Morocco in 2015”, said the head of the […]
The investment firm Qaala Holding, previously known under the name of Citadel Capital, sold its direct and indirect shareholdings in Pharos Holding for Financial Investments, which amount to 80%, in a deal of 40 million Egyptian pounds ($ 5.3 million). According to the company’s statement, the divestiture is part of its plans to sell non-core […]
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 […]
Maroc-Telecom, the incumbent telecommunications operator in Morocco, announced it has finalized the purchase of the branches it acquired from the United Arab Emirates telecom group Etisalat in Côte d’Ivoire, Togo, Gabon, Benin, Central African Republic and Niger. The deal between the two operators worth over $ 536 million was struck last spring when Etisalat became […]
President Sisi is on his first official visit to the United Arab Emirates (UAE) as a Head of State and was full of praise of its leaders as he paid homage to the founder late Sheikh Zayed bin Sultan Al Nahyan. He described the ties between the two states as “strong and balanced.” He urged […]
China’s Foreign Minster Wang Yi has stressed that his country is not on a colonially exploiting Africa like Western colonists as he defended the policies of Beijing. The Minister is on a tour to five central African countries namely Cameroon, Equatorial Guinea, Sudan and the Democratic Republic of Congo. Beijing has often been accused of […]
Trade exchanges between Oman and Iran grew rapidly during the past two years to hit one billion dollars, said the Iranian ambassador to Oman, Ali Akbar Sibeveh. In a statement to the press on the sidelines of an Iranian-Omani trade exhibition that opened Tuesday in Muscat, Mr. Sibeveh said relations between the two countries are […]
Country Manager Hesham Mekawi of British Petroleum (BP) Egypt has stated that the company will invest more than $12 billion in the country before the end of 2020 to unlock the country’s oil and gas potential. He was speaking at an energy conference in Alexandria. Egypt has been undergoing gas shortages and the government was […]
Chief Executive Officer of state-owned Sonatrach, Said Sahnoun, asserted that their five-year investment plan will go ahead despite plummeting oil prices. Addressing the ninth North Africa Oil & Gas Summit held in Algiers, he also said that the exploitation of shale oil for production is scheduled for 2022. Analysts believe that the global slumping of […]