First Independent Mena Newspaper
Algeria has been urged to diversify its economy which is heavily based on revenues generated from oil exports. This remark was made during the periodic assessments of the Algerian economy in the current year which has just a few days to go. The International Monetary Fund (IMF) and World Bank (WB) did show their satisfaction […]
Operations have been hampered in a major oil port in eastern Libya, Al-Zuweitina oil port after protesters stormed its premises making it the fourth consecutive day that its door has been closed. The Al-Zuweitina oil port receives crude pumped from at least three oilfields in the Libyan desert and handles about 20% of the country’s […]
Egypt has decided to call off its first debt sale after a rating cut at Standard & Poor’s raised borrowing costs and as Fitch Ratings warned against delaying an International Monetary Fund loan beyond January. The local currency is continuing on its journey of unprecedented deprecation. The sale which was supposed to take place was […]
Mohamed Abbadi has been elected earlier this week secretary general of Al Adl wa al Ihssane after the demise of the founder and spiritual leader of the Moroccan outlawed Islamist association, Abdessalam Yassine. Mohammed Abbadi, Yassine’s closest friend who was sometimes called his “Black Box”, will lead the association for a five year term, not […]
Prime Minister al-Jabali said he was honored when addressing the Sixth Turkey Sectoral Economic Council meeting held at the twin towers of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) in Ankara. Both countries exchanged mutual appreciation and support and acknowledged to work together in widening it by increasing contacts to develop areas […]
Moroccan authorities, the employers’ association, CGEM, trade unions and the social security fund, CNSS, have finally agreed to institute unemployment benefits to ease the strain of the global financial crisis that is sparing no country. The project to set up such an allowance was first tabled some 12 years ago but several obstacles have so […]
The Tunisian authorities are putting up for auction thousands of luxury items that were once owned by toppled dictator Zine El Abidine Ali and his family. They hope to raise at least 10 million euros to fund several development projects. The list of goods put on sale includes a pair of miniature gold sphinxes, a […]
After the signing of agreements between the government of Algeria and Renault#, the news of subcontractors has been delivered to the public and it has been appreciated by the local businesses in the domain. It has been revealed that several components which will be need by Renault at its production plant in Oued Tlélat, Oran […]
Reports have been claiming that Dubai’s Majid Al Futtaim# (MAF) was in talks with Egypt’s Mansour Group# to buy its supermarket business in a deal valued at $200 million to $300m and it has led to Arabian Gulf firms present in Egypt to develop a zeal for expansion despite low valuations. It’s also signaling a […]
The newly formed Libyan government has ordered the temporary closure of the country’s borders with four of its neighbors and declared the southern region a restricted military zone. The land borders with Chad, Niger, Sudan and Algeria were shut in a bid to better control and fight “illegal immigration and illicit activities such as arms […]