First Independent Mena Newspaper
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 […]
By Rabia Elkotbi Despite the crisis that hit the tourism sector worldwide, Morocco has not shoved its projects in a drawer. On the contrary, Morocco is launching new projects and hunting for new investments to attract greater numbers of tourists, not only from Europe, its traditional market, but also from the Gulf and Asia, especially […]
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. […]
The Kuwait Fund for Arab Economic Development (KFAED) and the Tunisian government have signed a loan agreement of $88 million. The loan will help develop a transmission and distribution network of natural gas produced locally. Minister of Development and International Cooperation Lamin Al-Dughry signed the loan agreement while the Chairman of the Tunisian Company of […]
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 […]
After having satisfied the demand of the militias to adopt a law, which forbids authorities of the Gadhafi era from taking part in the political and administrative activities, militias still remain adamant to lift their blockade on the foreign and justice ministries. They are now asking for Prime Minister Zeidan’s departure from office. According to […]
The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, and the Egyptian government have reached a financial and initial working capital terms agreement in Cairo. The agreement is essential for works on the Al Nouran Sugar Project, where an amount of $372 million […]
Malta’s newly elected Prime Minister, Joseph Muscat, has renewed his ambition to establish a new partnership with Libya geared towards developing together “as equals” rather than being financially oriented. Prime Minister Muscat said Libyans need “genuine friends” as partners in development “with an open mind.” He lamented the cooperation environment between the countries lying on […]
Tunisian authorities have dismantled lately several Islamist terrorist networks that were recruiting young Tunisians for jihad in Syria. The recruiters are hardline salafists groups operating in mosques and charities. These dark networks were disrupted after months of investigations launched after the complaints lodged by several families over the disappearance of many of their sons, accusing […]