First Independent Mena Newspaper
Turkey’s Energy and Natural Resources Minister Taner Yildiz accompanied with a delegation is on a working visit to Algeria and was welcomed by Prime Minister Abdelmakek Sellal on his arrival. Issues discussed between the two counterparts ranged from economic cooperation and commercial ties. On the agenda of the Turkish minister also includes ways of opening […]
During the inauguration ceremony of the National Initiative for Economic Launch, the Egyptian Prime minister said that there are expectations that some prospective investments can “help reduce the budget deficit” before the end of the year because these investments can go up to LE20 billion. These remarks came after saying that the transfer of funds […]
ADX energy has made it public that Alpine oil and gas (it’s wholly owned subsidiary), has concluded a definitive deal with Rift Basin International. The agreement between the two signatories will allow ADX to farm out a further 15% participating interest in its Chorbane exploration permit, onshore Tunisia, to Rift Basin International. According to the […]
The desire to channel natural gas to European countries from Algeria has suffered another setback because the date of the rendezvous between parties to make a decision concerning the viability of the project is still being clouded with ambiguity following another delay. The project is a prospect of natural gas from Algeria being piped via […]
The government has sold 15% of its stake in mobile operator Tunisiana to the Qatar based Qtel group. The conclusion of the deal raises the stake owned by Qtel group in Tunisiana to 90% if stakes acquired directly and through subsidiaries are taken into consideration. However, the Tunisian government still holds on the remaining 10% […]
Relationships between Mauritania and Libya have become more active after the end of the Libyan uprising which started in Misrata and ended up uprooting Ghaddafi from power with the help of forces from the North Atlantic Treaty Organization. In a recent development, their chambers of commerce have decided to reinforce the interactions between the two […]
Tunisia will be introducing its financial transactions to Sukuk for the first time next year alongside Egypt according to CIMB Group Holdings and OCBC Al-Amin Bank with the global sukuk sales tipped to surpass 2012 record of $46 billion in 2013. Sukuk has been attracting countries after the global economic crises took centre stage. Countries […]
The government is preparing to sell almost 60% of its bond in the next quarter. The decision is a U-turn on its strategy to cut long-term debt sales by 49% in expectations of the delayed IMF loan. The Finance Ministry will seek to sell 26billion pounds ($4.2 billion) in bonds maturing in 3years to 10years, […]
With rumors surrounding the market claiming that some Egyptians have withdrawn their funds from banks out of concern they would be frozen by the authorities, Egypt’s central bank has taken steps to safeguard deposits in local and foreign currencies in Egyptian banks in response to the rumors. In a press release to address the situation, […]
Four issuers in Tunisia have been affected by a recent review exercise for new ratings. Fitch Ratings said it carried out the review due to a recent recalibration of the Tunisian National scale in a released statement. The recalibration of the Tunisian National scale follows Fitch Ratings downgrade of Tunisia’s sovereign rating and country ceiling […]