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Egypt: Sisi Urges Maintaining Measures to Reduce Public Debt, Increase Foreign Reserve


President Abdel Fattah El Sisi underlined on Saturday 9/7/2016 the importance of taking all necessary measures to continue reducing public debt and increasing foreign reserve. The remark was made at a meeting with Prime Minister Sherif Ismail, Governor of the Central Bank of Egypt Tarek Amer and Finance Minister Amr El Garhy. The president stressed the necessity to support low-income ...

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Egypt Threatens Retaliation Over Italy’s Decision to Halt Aviation Supplies


Egypt said on Wednesday it was considering taking similar measures against Italy, which halted aviation supplies to Egypt in protest over the killing of Italian student Giulio Regeni earlier this year. The Italian Senate voted on June 29 to halt supplies of spare part for F16 warplanes to Egypt over Egypt’s handling of Regeni’s case investigation. The 28-year-old Italian researcher, ...

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Morocco: HM the King Chairs Launching Ceremony of New Investment Reform Plan, Signing of Several Agreements & Investment Contracts


HM King Mohammed VI chaired, on Monday at the Royal Palace in Casablanca, the launching ceremony of a new investment reform plan and the signing ceremony of several agreements and investment contracts. At the beginning of this ceremony, Minister of Industry, Trade, Investment and Digital Economy, Moulay Hafid Elalamy, presented before HM the King the new plan which is fully ...

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Egypt’s Budget Deficit Exceeds 11 PCT Between Jul 2015 – May 2016


Egypt’s budget deficit soared to EGP 311 billion (around $25 billion) during the period between July 2015 and May 2016, constituting 11.2 per cent of the Gross Domestic Product (GDP). In its monthly report, the Ministry of Finance said on Monday the budget deficit during the same period of the fiscal year 2014/2015 amounted to approximately EGP 262 billion (around ...

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Algeria: Economic Crisis Is Not Specific to One Country, Says President Bouteflika


The current economic and financial crisis is not specific to one country in particular and it is not the “consequence of failure” in Algeria’s internal economic approach, underlined President of the Republic Abdelaziz Bouteflika. “The economic and financial crisis is not specific to one country in particular, notably in the globalized economy of the world. It is the response to ...

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Algeria: Foodstuffs and Cement – Import Prices Decline in Q1


The average import prices of foodstuff and cement imported by Algeria declined in the first quarter of 2016 compared to the same period of 2015, the Trade Ministry told APS. The average import prices of raw materials for the food industry recorded a decrease between 4% and 27%, except crude sunflower oil. For cereals, prices decreased to USD 345/ton (USD/t) ...

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Algeria Catches Its Full Annual Quota of Bluefin Tuna


Algeria has caught its full annual quota of bluefin tuna, 450 tonnes, as set by the International Commission for the Conservation of Atlantic Tunas (ICCAT), said the Ministry of Agriculture, Rural Development and Fishing in a communiqué. The eleven Algerian tuna fishing vessels authorized to participate in the 2016 season, from 26 May to 24 June, caught the full quota ...

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Algeria:Total files arbitration against oil tax change


French oil major Total has filed a request for arbitration against Algeria for changing profit-sharing terms on oil and gas contracts in the mid-2000s, chief executive Patrick Pouyanne said on Saturday. “We tried as always to find a mutual agreement first, it failed, so we decided that we would seek arbitration,” Pouyanne told Reuters on the sidelines of a conference ...

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Egypt: Cockpit Voice Recorder of Egyptair Flight Ready for Information Extraction


Egyptian investigators said on Saturday that board components of cockpit voice recorder (CVR), one of the black boxes of doomed EgyptAir flight, were replaced to enable the reading of recorders of the CVR memory units. Egypt sent the flight’s black boxes, the CVR, and the flight data recorder (FDR), to France to be repaired after they were found damaged in ...

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Algeria: Building Materials – Import Bill Declines, Quantities Widen


The import bill of building materials reached USD 965.32 million in the first five months of 2016 against USD 1.12 billion during the same period, i.e. a decrease by 14.24%, Customs told APS. Imported quantities (cement, iron, steel, wood and ceramic products) widened to 4.9 million tons against 4.61 million, i.e. an increase by 6.24%, the Customs’ National Center of ...

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