First Independent Mena Newspaper
The European Bank for Reconstruction & Development has stepped up its financial support to Morocco’s public and private institutions in a bid to boost the North African country’s economic growth. The European Bank has increased its support to Morocco’s renewable energy sector with a loan of up to € 35 million to the Office National […]
Mauritanian Minister of economy and development Tuesday hailed the progress made by the country on the 2015 Doing Business Group report which places Mauritania at the 168th spot out of 189 countries. 2015 Doing Business Group’s report published last week ranks Mauritania 168th, revealing a jump of 8 spots in two years after the country […]
The European Bank for Reconstruction and Development (EBRD) has announced a €200 million loan to state-owned “Société Nador West MED” to enable it finance the basic infrastructure for a new port on the Mediterranean coast of Morocco in the city of Nador. The development of the port is a major boost for eastern Morocco and […]
The World Bank Doing Business 2016 report categorizes Algeria among countries “hostile’’ to investment, placing the country at the 163rd rank out of 189 countries, with Singapore topping the rankings. Despite a myriad of efforts to stimulate economic revival following a plunge of the country’s economy due to the collapse of oil prices, Algeria is […]
Algeria trade deficit widened to $10.33 billion during the first nine months of 2015, against a $4.09 billion surplus a year earlier, after a sharp fall in energy earnings caused by global drop in crude oil prices. The new figures confirm the deteriorating economic situation in the North African country, member of the OPEC cartel. […]
Mauritania Pelagic, the largest holding company specializing in production and processing of fish, has sold 23 pc of its shares to international Investments Fund “Hermes-Sojitz” for €20 million. The money derived from the deal will be used for the construction of a modern fishing trawler equipped with 500 tons refrigerated sea water (RSW) tanks. Installing […]
Algerian business tycoon Issad Rebrab said in an interview from Brazil that Algerian authorities want to arrest him on cooked bases. “Those people need not an arrest warrant to arrest me. I have received some information from reliable sources that they will arrest me as soon as I return to Algeria in order to silence […]
Car giant company Nissan Tuesday indicated that it envisions increasing its market share in Morocco by 2016 and make the kingdom its pivotal point to conquer the African continent. Nissan Boss for Africa, Middle East and Far East Christian Mardrus speaking at the launch of a new Nissan show-room in Casablanca said the car producing […]
North Africa and Middle East countries will spend $11.4 billion on information technology products and services in 2015, says US firm Gartner Inc. in its forecast. The MENA countries IT spending includes purchase of internal services, software, information technologies services, data centers, devices and telecom services. According to the Gartner forecast, telecom services, which include […]
Malaysian oil company Petronas has started pulling back and is about to end its operation in Mauritania due to sharp fall in revenues caused by the acute collapse of oil price. The company had notified Mauritanian authorities in February that it would stop its oil exploitation. The company has started disassembling its offshore oil platform […]