First Independent Mena Newspaper
Crescent petroleum, a United Arab Emirates based company is eyeing investments into Libya’s oil and gas sector. The company has no investments of such in Libya but it is no stranger to the sector because it is already active in Iraq and Egypt. The chief executive of the company, Majid Jafar told reporters at the […]
Huge financial challenges lie ahead according to Finance Minister Slim Besbes with estimations pegged around 7 billion dinars. The country is struggling to stand on its feet and it is hoping to raise the amount through loans and aids. The economy and revenue earning ventures are suffering from the effects of the revolution and the […]
Reports from Algeria claim that Egypt has received in the last few days a 53,000 tons shipment of gas from Algeria in a move to ease its energy demands. The shipment is part of a negotiated deal brokered between the Egyptian government and the Algerian petroleum company SONATRACH for the increment of butane gas imports […]
The modest economic growth made by North African countries during the past decade preceding the Arab Spring did not help them to create enough jobs for the young. In this region, the unemployment rate among the 15 to 24 year-old age group is on average 23 pc, which is three to four times higher than […]
A stronger trade and economic integration among the countries of the Middle East and North Africa is an essential reform that is likely to deliver economic growth on a scale and timetable that would create enough jobs and prosperity for the rapidly growing populations in these countries. “More trade integration would not only create growth […]
Francophone African and Maghreban countries will shortly be able to watch a new TV channel, “Bloomberg-Afrique” that will beam its programs in French from the city of Casablanca. The new channel will broadcast programs on the development of the continent in addition to its primary role as a channel of economic and financial information, said […]
Spain’s oil company Repsol has discovered lately gas in the Illizi basin, in the south east of Algeria. The discovery was made during an exploration campaign launched in 2011 at the Tihalatine South-1 well in the Sud-Est Illize block. A consortium led by Repsol won in 2010an exploration license to dig for oil and gas […]
Global rating agency Fitch has affirmed Morocco’s Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-‘, Long-term local currency IDR at ‘BBB’, and Short-term foreign currency IDR at ‘F3’. The agency has also given the North African Kingdom a “stable outlook” and affirmed the country ceiling at ‘BBB’. Morocco’s ‘BBB-‘ rating is supported by a […]
Tunisia’s government has blocked the launch of a new airline company dubbed “Jasmin Airways” which was initially set to operate early 2013. The Tunisian ministry of transport did not grant the new airline operating rights, apparently fearing tough competition and seeking to protect flag carrier Tunisair (TU) suffering deep losses. “The creation of Jasmin Airways […]
Tunisia has approved the renewal for an additional three year period of the Sfax offshore exploration permit awarded to Eurogas International Inc. and its joint venture partner, Atlas Worldwide Exploration Ltd (“APEX”). Under this first renewal period that will extend from December 9, 2012 to December 8, 2015, the exploration corporation will have to drill […]