First Independent Mena Newspaper
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 […]
Energy Minister Youcef Yousfi announced that there will be new biddings for the exploration of oil and gas in the “coming weeks”. The state has declared that it discovered 32 oil and gas wells last year. The ‘’In Amenas’’ gas plant attack in 2013 left more than 40 employees dead and has terrorized most of […]
Tunisian authorities are under pressure to reduce the hardship on the population as public protests continue to increase. The government said it is trying to convince the International Monetary Fund (IMF) for half a billion dollar loan in order to take the necessary actions. The looming elections could slow IMF’s decision. Finance Minister Ilyas Fakhfakh […]
North Africa’s aviation companies are engaged in a battle to dominate the skies. The latest move to increase its effectiveness in the skies emanates from Air Algerie. The company boosted its fleet with the signing of three 250 seat Airbus passenger jets and eight 150-seat jets from Boeing, company officials said. The deal is worth […]
The International Finance Corporation, a member of the World Bank Group, announced it is investing $50 million in Alliances Group, a leading Moroccan home builder, “to increase the supply of quality affordable housing, create jobs, and spark broader economic development.” The investment consists in the purchase of 3% of the Moroccan group’s shares for $25 […]