First Independent Mena Newspaper
Criticism has started coming from Egyptian big companies which complain that they are being neglected by the government. They blame the government for undermining their role and for harming the economy at large. A new cast of Islamists has emerged at the lead of business despite promises of a “Renaissance Project” by the government. Nassef […]
Egypt was pinning great hopes on the International Monetary Fund (IMF) promised loan to boost its economy, stabilize the country and attract investors and tourists anew. The country is in dire need of this loan also to inject cash in the state’s reserves as foreign currency reserve can barely cover 3 months of imports and […]
Kanosak Capital Venture Corporation has announced that it has acquired 90 percent interest in ‘’la Société Mauritanienne d’Exploration’’ (“SEM”) from Wafa Mining and Petroleum S.A., a Mauritanian company. In exchange for the acquisition, Kanosak, a Canada-based capital pool company, issued 100,000 common shares and paid US$100,000 in cash. Additional contingent consideration of common shares and […]
The European Union is negotiating with Morocco a new fisheries agreement that would allow European trawlers back in Moroccan waters in exchange for annual payments. So far, the European and Moroccan delegations held three rounds of talks for a new protocol to the Fisheries Partnership Agreement (FPA) which entered into force on February 28, 2007. […]
The OCP group and its Belgium-based partner Prayon signed last week an exclusive licensing agreement relating to Prayon’s water soluble mono-ammonium phosphate (MAP) fertilizer technology, globally recognized for the quality of its industrial processes in the water soluble fertilizer sector. OCP will exploit the technology in a water soluble MAP fertilizer production plant, which will […]
Egypt might be taking a new approach towards small and medium-sized enterprises (SMEs) in the economic sector after a report was submitted to the National Bank of Egypt (NBE). The report which was overseen by the deputy head of the small and medium-sized enterprises division, Saad Mohyeldeen, has proposed 10 suggestions. The most significant among […]
A security meeting that gathered last week in Rabat the interior ministers of France, Morocco, Portugal, and Spain agreed to enhance cooperation between the four countries’ police and security departments and consequently improve struggle against terrorism, illegal immigration and drug trafficking. The four countries also agreed to upgrade their intelligence exchange cooperation mainly in matters […]
Algerian and Italian companies will set up joint ventures in the housing industry sector as demand continues to grow in the North African country. According to the CEO of INDJAB holding company, Hafid Fassouli, four Algerian-Italian joint ventures specialized in construction and housing will be created soon, in a bid to upgrade Algeria’s construction capacity. […]
Following the repeated attacks of shrines by unidentified individuals, the Tunisian government has decided to adopt emergency measures to protect Sufi Muslim mausoleums, considered as religious and cultural treasures. The latest such attack took place last Thursday when two Sufi mausoleums were torched. Many believe that ultra-conservative Salafist Muslims are behind such acts. The government […]
Relations between the Head of the Government, Abdelilah Benkirane, and the leader of the Istiqlal Party, the backbone of the governmental coalition, Hamid Chabat, are growing more strained by the day. Chabat’s harsh criticism of the government’s performance and his repeated calls for a cabinet reshuffle are the main bone of contention between the two […]