First Independent Mena Newspaper
The National Council of the Istiqlal Party decided on Saturday to withdraw from the Moroccan coalition government led by the Islamist Party for Justice and development (PJD). The decision was not a surprise to analysts who see in it the normal outcome of the fierce and controversial opposition the Istiqlal Party’s Secretary General Hamid Chabat […]
Oil minister Al Arusi has announced that they will be joining the campaign against the sensitive fuel market reforms and will also be scrubbing off oil subsidies, which take more than 10% of the budget, before the end of 2016. The decision to remove fuel subsidies on all types of fuel is blamed on smuggling […]
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 […]
Algiers has made it intentions known to Cairo that deals involving natural gas could only be discussed in 2014, due to the need to develop production from new fields first. According to Egypt’s oil minister Osama Kamal, Algeria doesn’t have “enough quantities to be exported to Egypt.” Algeria’s decision was prompted by the fact that […]
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 […]
Two senior officials in the Libyan oil ministry have claimed that Libya could be exporting $1,2 billion worth of crude oil at world prices, but on interest-free credit for a year to Egypt, in order to save the country from fuel shortages with the government finding it difficult to honor energy importation dues. These importations […]
A press statement issued by the kingdom’s Minister of Commerce and Industry, Tawfiq al-Rabiah, brought to light that projects worth more than $1,3 billion have been on the hold in Egypt. This information was revealed ahead of the Saudi-Egyptian Joint Committee meeting to be held in the Saudi Arabia’s capital, Riyadh. Several Saudi Arabian projects […]
Mauritania and its northern neighbor, Morocco, have inked several cooperation agreements meant to give a new momentum to their partnership in various sectors of common interest. The two countries, members of Arab Maghreb Union gathering also Algeria, Tunisia and Libya, have agreed to bolster joint actions and projects in the fields of transport, energy & […]
Planning minister al-Araby claimed that the economy will grow by 3.8% in 2013, while Finance minister Al-Mursi al Sayed Hegazy presented in parliament measures geared towards saving more than $5 billion as part of their annual budget prospects. Ministers are presenting prospects of their ministries for the 2013-2014 budget to the upper house of parliament […]
A Chinese delegation composed of investors and businessmen is currently on a visit to Egypt to seek new ventures. The delegation paid a visit to the industrial and investment area in Giza’s Abu Rawash. Giza is considered to be a valuable zone for business. The delegation was accompanied by the Chinese ambassador to Egypt Song […]