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Algeria: Gas Plant Hit By Rocket Attack

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An Algerian gas plant jointly operated by foreign energy giants came under attack on Friday with rocket-propelled grenades, Algerian officials have said. The Army “scuttled this attempted terrorist attack and immediately surrounded the zone,” the ministry said in a statement. There were no reports of casualties or injuries from attack on the In Salah Gas asset, which is run by ...

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Egypt’s Stock Exchange Rockets By 14 Pct After Pound Devaluation

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Egypt’s main stock index climbed 3.6 per cent on Thursday, closing off the week with a surge of 14 per cent. The bourse’s upsurge throughout the week was triggered by investor optimism following the devaluation of the Egyptian pound on Monday by 112 piastres, to reach 8.85 against the dollar instead of 7.73. The move signified a drop of 14.5 ...

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Algeria’s Gas Production Expected to Boom As From 2018

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Algeria’s gas production is expected to boom as from 2018, after years of stagnation thanks to the entry into production of several gas fields in the south-west of the country, said the US Energy Information Administration. In its analysis report on the Algerian energy sector, this administration coming under the American Department of Energy, anticipates an increase of the Algerian ...

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Egypt: CBE Holds Exceptional Dlrs 200 Million Auction

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The Central Bank of Egypt (CBE) said on Monday 14/3/2016 that it will sell 200 million dollars in an exceptional auction at a rate of 8.85 Egyptian pounds to the dollar. The CBE offers three tenders to sell dollars to banks weekly, on Sunday, Tuesday, and Thursday of each week, in which the dollar price is determined by the CBE ...

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Algeria Must Pursue Reforms, Suggests IMF

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Algiers — The International Monetary Fund said that the efforts spent by the Algerian authorities in terms of reforms and budgetary consolidation must continue, noting that the external and budgetary margins allow the conduct of these reforms. “Algeria has to cope with important challenges following the fall in oil prices, we expect will be lasting. To deal with it, Algeria ...

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Egypt Bourse Indexes Up At Early Trading

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The Egyptian Exchange (EGX) indexes went up during the morning trading on Tuesday 15/3/2016 backed by share purchases by investors after the Central Bank reduced the value of the Egyptian pound against the US dollar by nearly 15% to hit EGP 8.85 per dollar. The market capital achieved gains worth EGP 7.4 billion to reach EGP 435.4 billion. The EGX ...

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Algeria’s Foreign Exchange Reserves Down to U.S.$ 143 Billion Late 2015

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Algeria’s foreign exchange reserves dropped to US$143 billion in late 2015, down by US$35 billion in one year, said Monday in Algiers the representative of the International Monetary Fund (IMF). “The foreign exchange reserves are indeed still at a high level but they dropped by US$35 billion in 2015, down to US$143 billion against US$194 billion in 2014,” said the ...

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Algeria: Textile Industry – Several Public-Private Partnership Agreements to Be Signed By June

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Partnership agreements in the sector of textile will be signed by June between national public and private operators, announced Minister of Industry and Mining Abdessalam Bouchouareb, while underlining the need for foreign partners. “We are preparing three to five public-private partnership agreements on projects in textile industry. The participation of foreign partners is necessary to win back the domestic market, ...

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Egypt: CBE Depreciates Egyptian Pound to 8.85 Per Dollar – Sources

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Cairo — Egypt’s central bank has devalued the Egyptian pound on Monday to change hands at EGP 8.85 per dollar down from EGP 7.73,according to sources in the bank. In an exceptional auction on Monday, the Central Bank of Egypt (CBE) said it will sell around $200 million at the new exchange rate of 8.85 Egyptian pounds, after keeping it ...

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