First Independent Mena Newspaper
Three important state firms will have their headquarters moved from Tripoli to Benghazi in the drive to give the eastern city more authority. According to a government decree, Libyan Airlines, Libyan Insurance Company and the National Investment Company, as well as the Tripoli-based National Oil Corporation (NOC), will be transferred. The decree has to be […]
Libya could be investing $140 billion on infrastructure, energy, utilities and industry to assure a sustainable future within the next 10 years of the rebuilding process. A major business conference dubbed “Libya Projects 2013” will be organized by MEED, in association with Business Mirror from the 3rd – 5th of June, to verse local and […]
The Governor of the Egyptian central bank, Hisham Ramez, has said that they have converted $2,5billion into 18-month notes and there are ongoing plans to convert an extra $3 billion into three-year bonds. The monies were provided by Qatar as deposits to the bank as part of its efforts to help Egypt overcome its crisis […]
Egypt is considering a U-turn to international bond markets a few days after Morocco capitalized on cheap borrowing costs to reopen old bonds and raise $750 million. Its return will be the first time since the end of the revolution, after the new law allowing the country to issue Islamic-compliant bonds for the first time. […]
Algerian Customs officers and borders agents have discovered lately radioactive waste in three containers shipped from China to Algiers port. According to Algerian local press, the tests carried out on the suspected hazardous merchandise and material found in the containers were indeed radioactive stones and rocks. The containers were imported by an Algerian businessman. Investigators […]
Shortly after Prime Minister Ali Zeidan’s return from an overnight visit to Egypt, a source close to his cabinet have revealed that the visit was centered on developing bilateral economic relations amongst which is the establishment of a free trade zone. Part of Prime Minister Zeidan’s visit was aimed at how to get Egyptian companies […]
Tunisian Finance Minister Elyes Fakhfakh, has announced the introduction of its planned reform of the country’s tax system which will affect the direct, indirect and local taxations. Task groups have been set up by the ministry to propose ideas about how to revolutionize the tax system, modernize and adapt it to the country’s realities. Tunisia […]
Oil minister Al Arusi has announced that they will be joining the campaign against the sensitive fuel market reforms and will also be scrubbing off oil subsidies, which take more than 10% of the budget, before the end of 2016. The decision to remove fuel subsidies on all types of fuel is blamed on smuggling […]
The International Monetary Fund (IMF) has announced that it will be holding back on negotiations for the $4,8billion loan to Egypt, because the country’s financial situation is worsening. It has decided to only continue with talks when it receives updated economic information and reform plans from the government. The freezing of negotiations which have been […]
President Mohamed Morsy is currently on a working visit to Brazil and has urged its businessmen to invest in Egypt in order to increase trade between the two countries. Egypt is the biggest trading partner of the Latin American country in Africa and transactions between them have always been on the rise for more than […]