First Independent Mena Newspaper
A Hong Kong-flagged ship has run aground in Egypt’s Suez Canal causing traffic jam, reports say adding that authorities are at work to refloat the ship. “M/V XIN HAI TONG 23 has grounded in the Suez Canal at KM 159/0400 hrs”, Leth Agencies said in a tweet. The situation, the agency said, left behind 4 […]
Egypt signed two agreements worth $1.6 billion with international consortiums on the establishment of the superstructure, management, operation, exploitation, maintenance, and handing over of the container terminals at Ain Sokhna and Dekheila ports, the Arab country said in a statement on Wednesday. The first project will be implemented in the port of Sokhna between the […]
Djibouti has inked a preliminary technological cooperation agreement with Chinese multinational Hong Kong Aerospace Technology to build a $1bn satellite and rocket launch site which could see the launch of the first Africa-made satellite from the African continent. The deal with the Hong Kong-based company, which was signed by Djibouti’s President Ismail Omar Guelleh, includes […]
The Casablanca Finance City Authority (CFCA) and the Financial Services Development Council (FSDC) of Hong Kong have agreed to strengthen cooperation and share experiences for the development of financial services industry. The agreement was inked Wednesday remotely by CEO of CFCA Saïd Ibrahimi and Head of FSDC Dr Au King-lun. The two centers will conduct […]
The city of Marrakech will play host February next year for a Formula E race, previously planned to take place in Hong Kong, as the Chinese city has been rocked by months-long anti-Beijing protest. A council meeting of the FIA World Motor Sports held in Germany late last week chose the Moroccan city to replace […]
The Kingdom of Morocco has emerged as the best business-friendly country in the Maghreb and the second in Africa in the US Forbes Magazine’s 2016 ranking of Best countries for Business. The new ranking highlights the North African country’s key investment areas. For the famous magazine, Morocco owes its remarkable progress and attracting potential to […]
Morocco has gained three places in the Global Enabling Trade Report ranking as the second most trade friendly country in Africa. Morocco jumped in the report, issued by the World Economic Forum, from the 52nd place in 2014 to the 49th in 2016 coming ahead of South Africa (55th), Tunisia (91st), Egypt (116th), Algeria (121st) […]
The 2016 Economic Freedom of the World Report issued by the Canadian Fraser Institute pointed out to the plummeting economic freedom in Algeria, which ranked 151st among 159 surveyed countries. The report measures economic freedom including levels of personal choice, ability to enter markets, security of privately owned property and rule of law. It analyses […]
Casablanca Finance City has outstripped Johannesburg and Mauritius to become the leading financial center in Africa as it topped the continent’s ranking established by the Global Financial Centers Index (GFCI.) At the global level, CFC stands on the 33rd position of the ranking established by GFCI which ranks financial centers according to one main criteria: […]
Algerian Minister of Industry, Abdesslam Bouchouareb has been cited in the Offshore Financial scandal revealed on Sunday by the International Consortium of Investigative Journalists (ICIJ.) Bouchouareb is so far the only Algerian leader to be leaked. According to ICIJ’s cache of 11.5 million records, the Algerian minister owns an offshore company in Panama known as […]