First Independent Mena Newspaper
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 […]
The Tunisian central Bank has added its voice to the ongoing political crisis. It is worried that if the political parties don’t find a solution to their differences, the economy will fall into a state that it has never before experienced. The board of the central bank has urged all stakeholders to work towards maintain […]
Authorities overseeing the Egyptian General Petroleum Corporation (EGPC) are considering the conversion of their debts of more than $5 billion into bonds. The idea came as proposals and discussions with the Egyptian Central Bank to scrutinize it have resulted in a positive outcome. These debts are owed to foreign oil companies operating in the country. […]
The Egyptian pound weakened to a new record low against the US dollar on Thursday, extending its losses to 6.4 percent since the central bank introduced a new system of foreign currency auctions to curb a decline in foreign reserves. This came hours after Qatar announced that it is willing to pump in more money […]
With rumors surrounding the market claiming that some Egyptians have withdrawn their funds from banks out of concern they would be frozen by the authorities, Egypt’s central bank has taken steps to safeguard deposits in local and foreign currencies in Egyptian banks in response to the rumors. In a press release to address the situation, […]