First Independent Mena Newspaper
Tunisia’s central bank has applauded the “positive development in the political process” after the successful parliamentary and presidential elections but signaled that the results are yet to have a strong impact on the economy for now as the beginning of the year was “characterized by negative economic indicators” amongst which are the industry and tourism […]
The branch of the Libyan central bank located in Benghazi near the sea port has been taken over by armed men claiming to be from the youth of the naval base in a video posted online. Around $100 billion is believed to be in the bank when the attacked happened. The international community and the […]
As the stand-off in Libya between the two governments continues, Prime Minister Abdullah al-Thinni of the internationally recognized Tobruk government is planning to approach it with a financial perspective. He wants to stop the payment of oil exportations to accounts that are not under its control in order to drain the financial power of the […]
With the spectacular fall of Mosul to the Islamic State of Iraq and Al Sham (ISIS) and the humiliating retreat of the US-equipped Iraqi Security Forces (ISF), Iraq’s future as a unified state hangs in the balance. ISIS represents only a symptom in the current crisis facing Iraq, the deep causes lie in the grab […]
Despite the situation in Libya, analysts and politicians have defended that the country’s economy will be able to resist to the violence and political crisis for almost 5years. Libya is heavily dependent on oil and most of the goods that it consumes are imported but there are believes that it has enough reserves to keep […]
There are reports that Egyptian banks have been ordered by the Central Bank to refrain from doing business with some banks in African and Arab countries amongst which are Qatar, Libya, Syria and Sudan. The central bank’s decision is aimed at reducing the scale of money laundering in compliance with the anti-money laundering laws. Several […]
“The reserves will continue going up.” These are the words of the Governor Hisham Ramez to assure investors and restore confidence in Egypt’s economy. The country’s reserve has fallen by more than 50% since the departure of President Hosni Mubarak. Gulf States have pumped in billions to salvage the economy after the ousting of President […]
Tunisia’s finance ministry announced that it would freeze assets of individuals and legal entities that are tied to terrorist activities. The suspicious assets range from real estate, securities, moveable assets to financial instruments and as such they will be frozen in order to prevent money laundering and financing terrorist activities. A 2003 law enables the […]
New protests in the Libyan capital are calling for the departure of Prime Minster Ali Zeidan. The protesters blocked the entry to several ministries and other important state institutions in a bid to pressure the Prime Minster into tendering his resignation. The office of the Prime Minister, the oil, finance, transport, foreign and justice ministries […]
The Central Bank has announced that foreign exchange reserves have reached new levels since the interim government took over in July. This report marks the third consecutive time that the reserves have been depleting. Analysts have claimed that the trend will continue till the end of the year. The country’s reserves dropped from $18,6 billion […]