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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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Africa 2016: Business for Africa, Egypt and the World

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At the invitation of the President of the Arab Republic of Egypt, Abdel-Fattah El-Sisi, African Heads of State and thought leaders, investors and partners gathered in the Red Sea resort on February 20 and 21, 2016 for the “Africa 2016: Business for Africa, Egypt and the World” conference. The goal of the meeting: to accelerate private sector engagement and investment ...

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Renewable Energies – Call for Investors in Summer 2016

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Minister of Energy Saleh Khebri has said a call will be made next summer for investors to carry out the National Programme for Renewable Energies, to be preceded by the holding, in May, of an Algerian-European forum on renewable energies and energy efficiency. An invitation to investors for the implementation of the programme “is under preparation and will be launched ...

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Mahlab, African Billionaire Review Boosting Investments in Egypt

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The Egyptian Embassy in Abuja said in a statement late Monday, 7/3/2016 that the Presidential Assistant for national projects Ibrahim Mahlab had talks – during his visit to Nigeria on March 4-6 – with Nigerian mogul Aliko Dangote. The talks tackled investment potentials in Egypt, especially in the real estate sector, as well as means of enhancing Egyptian-Nigerian cooperation in ...

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Algeria Not ‘In Bankruptcy,’ Despite Drop in Oil Prices

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Prime Minister Abdelmalek Sellal said Wednesday that Algeria is not “in bankruptcy, adding that the country has “important assets” allowing it to face the fall in oil prices in world markets. Sellal made the comment in a statement to APS on the sidelines of a working and inspection visit to Annaba (600-km east of Algiers). According to the Prime minister, ...

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Algeria Supports Saudi-Russian Oil Freeze, to Participate in Producing Countries Meeting

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Algeria supports the recent decision Saudi Arabia and Russia to freeze production, and will participate in the forthcoming meeting between OPEC member countries and non-OPEC countries, said Wednesday in Algiers Energy minister Saleh Khebri. “Algeria supports all decisions which allow recovering stability of the oil market. Even if this is not enough, freezing (production) is a first step as it ...

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