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Egypt’s Foreign Debt Increase 185 Percent in Three Months


Egypt’s foreign debt jumped 185% from July to September 2016, according to the monthly report of the Central Bank of Egypt (CBE) on Thursday. The debt amount increased to USD 2.46 bn during the past fiscal year, from USD 863 bn in the previous fiscal year. The three months of July to September witnessed an increase of USD 60 bn ...

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Algeria: Petroleum Products – Naftal Ambitions to Consolidate Position By 2030


The National Company for the Marketing and Distribution of Petroleum Products (Naftal) on Monday unveiled the main lines of its development plan which extends until 2030 to strengthen its position in the domestic market. Outlined during a meeting attended by its CEO Hocine Rizou, and CEO of its parent company Sonatrach, Amine Mazouzi, Naftal mainly eyes national autonomy in fuel ...

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Ethiopia: Algerians Keen to Invest


Algerian investors are desirous of tapping the enabling investment climate which Ethiopia has created. This was so said during Ethio-Algerian Business Forum co-organized by the Ethiopian Embassy in Algeria and Oran City Chamber of Commerce and Sectoral Associations. Head of Mission of Ethiopian Embassy in Algeria Ambassador Solomon Abebe on the occasion briefed participants on the investment potentials of the ...

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Egypt: Orange, Vodafone Referred to the Prosecution Over 4G Service


Consumer Protection Agency referred Orange, Vodafone mobile telecommunications companies to the prosecution over the 4th Generation mobile service. The agency accused the two companies of promoting for the 4G service which has not been officially launched yet. Both companies have been competing on providing a better 4G service on street billboards, and through online advertising on social media platforms, a ...

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Morocco:Economy Plows Ahead On Expanding Exports and Push for Tourism


Despite lower growth in 2016 due to last year’s drought and depressed phosphate prices, Morocco continues to invest both to boost the national economy and to increase commercial ties in Africa and elsewhere. The MCC released its final report on its initial compact with Morocco, which completed in 2013, and provided more details on a portion of the second compact ...

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Algeria: Nearly 6 Percent Hike in Tax Revenues in Late September 2016


Tax revenues hit DZD 1,600 billion in late September, up by nearly 6% compared with the same period in 2015, announced Sunday Finance Minister Hadji Babaammi. “We witnessed an increase of almost 6% of tax revenues until September 2016 compared with the same period in 2015,” the minister told the press on the sidelines of the launching ceremony of a ...

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Ethiopia, Algeria Agree to Enhance Business Ties


State Minister Hirut Zemene dubbed Ethio-Algerian relations ‘very fraternal’. Foreign State Minister Hirut Zemene discussed ways of improving economic cooperation with her Algerian counterpart Ramtane Lamamra in Oran, Algeria Sunday. In a statement to the press after the meeting, Hirut said the talks focused on improving bilateral consultations. “We have agreed to further develop our business and people-to-people relations,” she ...

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Algeria, Saudi Arabia Sign MoU On Trade Cooperation


Algeria and Saudi Arabia signed Tuesday, in Riyadh, a memorandum of understanding in trade cooperation as part of the official visit paid by Prime Minister Abdelmalek Sellal to Saudi Arabia. This agreement was signed, on the Algerian side, by Minister of Maghreb Affairs, African Union and Arab League Abdelkader Messahel and Minister of Commerce and Investment Majed Al-Kassabi, on the ...

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Sudan: Investment Minister Welcomes Tunisian Traiki Investment Group


The Minister of Investment Dr. Mudathir Abdul-Ghani Abdul-Rahman reviewed, when he met with the Tunisian Traiki Investment Group’s delegation Tuesday, investment opportunities in the country The minister pointed to the advantages and incentives granted to investors including exemptions from customs, simplification of procedures and the guarantees offered by the Investment Law, adding that the investment is deemed as an important ...

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Tanzania: Egyptian Investors Eye Tanzania Health Sector


Egyptian business executes have said they are interested in investing in Tanzania. They recently toured Tanzania to explore investment opportunities. Delegation leader Moustaf Nour told The Citizen that Tanzania’s abundant resources and conducive environment were attractive for investors. The World Bank’s Doing Business Report, released in October 2016 ranked Tanzania No. 132, up from No. 139 last year. He named ...

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