First Independent Mena Newspaper
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 […]
Energy and Mining Minister Youcef Yousfi has said that the government will be dedicating more than $1,264 billion to its renewable energies program by 2030. The billion dollar investment is aimed at deriving more than 30% of the country’s energy consumption from renewable energies and to overcome the power outages which occur mostly during summer. […]
State-owned Sonatrach and Anadarko Petroleum Corporation have finally started production at the El Merk oil complex located in the Sahara desert of Algerian territory. The beginning of production at the $4,5 billion is a sign of relieve for the country’s hydrocarbon sector which was marred by a brutal hostage scenario at the beginning of the […]
Japan will build Turkey’s second nuclear power plant to be located in the Sinop province, northern Turkey, on the Black Sea. The contract worth $22 billion was signed last week in Ankara by the two countries’ Prime Ministers Recep Tayyip Erdogan and Shinzo Abe. The plant to have four reactors with a combined capacity of […]
Algiers has made it intentions known to Cairo that deals involving natural gas could only be discussed in 2014, due to the need to develop production from new fields first. According to Egypt’s oil minister Osama Kamal, Algeria doesn’t have “enough quantities to be exported to Egypt.” Algeria’s decision was prompted by the fact that […]
According to a statement released by the Algerian Ministry of Oil, Algeria is willing to open the door to Russia in an invitation made to Minster Alexander Novak. Algeria wants a stronger cooperation between oil and gas companies from the two countries in order to strengthen their participation at OPEC. The Algerian minister offered investment […]