First Independent Mena Newspaper
Stock markets in Egypt suffered another major loss with fingers pointing at different reasons after a successful 3month recording of gains. The main index slide by 3,5% but the Egyptian pound rose against the US dollar. Investors are skeptical about Egypt’s future especially with the fast approaching May presidential elections coupled with the continuous violence […]
Spokesman Omar Hmeidan of the General National Congress has said that Libya will be taking a 2,55 billion Libyan dinar emergency loan to finance the functioning of the government after lack of income. Libya’s main source of income is oil and gas but the rebels have laid siege on several oil ports and fields thereby […]
Economists are getting increasingly optimistic about the plan of Tunisia’s Prime Minister, Mehdi Jomaa, to tackle persistent unemployment and a tight budget. Mr Jomaa has recently visited a number of Gulf countries, accompanied by a delegation of businesspeople led by the head of the Tunisian Union of Trade, Industry, and Handicrafts (UTICA), Wided Bouchamaoui. Mr […]
Mehdi Jomaa, Tunisia’s Prime Minister, announced that the government was facing a harsh financial situation that required sacrifices from all Tunisians. This “confession” came during his first televised appearance since he took the office in December last year. In his own words, the situation is much more complicating than they thought and therefore sacrifices will […]
A day after Japan’s Senior Vice Foreign Minister responsible for the Middle East, Europe and America expressed desires of enhancing military cooperation in the Sahel to promote stability, he has added that they are interested in importing gas from Algeria and investing in its energy sector. Senior Vice Foreign Minister Nobuo Kishi is on a […]
The European Bank for Reconstruction and Development (EBRD) has lent the National bank of Egypt (NBE) US$ 50 million to help and encourage Egyptian companies engage more in international trade operations. This trade credit line is the second part of a US $ 100 million facility, the first part of which comprised a US$ 50 […]
Egypt’s Minister of Trade and Industry, Mounir Fakhry Abdel Nour, said on Monday (17 February) that the energy problem in his country would carry on this year and there is no different option but to import energy to guarantee the operation of factories and ensure sufficient supplies for the industrial sector. In his opinion, the […]
Oil production for OMV, Austrian oil and gas group, has recovered in Libya adequately to reach its 2014 output target of 320,000 to 340,000 barrels of oil per day if it continues at current levels, according to OMV’s chief executive Gerhard Roiss. Libya has proved to be a difficult place for business especially for companies […]
The business park of 2.5-million-sq-m in Hidd at the Gulf Industry Fair, which opened in Bahrain on Feb 4, is a highlight of business opportunities Bahrain International Investment Park (BIIP) offers. A total number of 105 companies exist at the park out of which 30 were approved of last year, and when in full use […]
As elections draw close this year, Egypt aims at attracting foreign currency into the country after investments almost dried up following the revolution which overthrew Hosni Mubarak in 2011. This cause, aimed at easing social discontent and creating jobs, is supported by state-linked investors and Dubai retailer Majid Al Futtaim. The company is the holder […]