Category: North Africa
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Egypt: Dozens of Lawyers Gather in Demonstration Against VAT Law
Dozens of lawyers gathered on Saturday in a demonstration in front of Egypt’s High Court in protest against the recently-passed value-added tax (VAT) law. Head of the lawyer’s syndicate Sameh Ashour said in a statement on Tuesday that the syndicate “rejects” the law as it “violates technical, scientific and legal standards applied in all countries”.…
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Algeria: Natural Gas, Oil Industry Challenges Emphasized in Ief Declaration
Final Declaration of the 15th International Energy Forum of Algiers (IEF15) has stressed the importance of natural gas, noting that oil industry is facing “structural challenges” because of the falling prices. In the final declaration distributed to reporters following the Forum’s works, held behind closed doors, the participants emphasized the key role of natural gas…
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Egypt: Strong Bilateral Relations Promote China-Egypt Investment Cooperation – Egypt’s Trade Minister
Egyptian Minister of Trade and Industry Tarek Kabil said on Tuesday that the strong bilateral relations between the two nations will promote China-Egypt investment cooperation and his country is seeking more Chinese investments in his country. “Egypt is a good investment hub and we expect more Chinese investments in the near future,” Kabil told Xinhua.…
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Algeria:OPEC’s move puts a higher floor under the oil price
Yesterday’s OPEC outline agreement to reduce production has surprised the market, as recent OPEC gatherings had failed to generate alignment at a time of high regional tensions. We believe comments running up to the meeting, and yesterday’s statement do indicate a change in Saudi policy. We see any agreement between Iran and Saudi in the…
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Egypt Inflation Expected to Remain High As Pound Devaluation Looms – Moody’s
Egypt’s inflation rates are expected to “remain elevated” in the upcoming fiscal year as plans to devalue the pound and introduce subsidy fuel reforms loom, Moody’s said on Wednesday. The annual consumer inflation rate jumped to 16.4 percent in August, marking a significant rise from the previous month, according to the Central Agency for Public…
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Egypt’s Tourist Numbers Drop 51.2 Pct in First Half of 2016 – State Agency
Egypt lost over half of its tourists in the first half of 2016 compared with the same period last year, the official statistics agency said on Monday. Egypt welcomed 2.3 million tourists in the period from January to June 2016, compared to 4.8 million tourists in the same period last year, the Central Agency for…
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Egypt: Sisi Promises Hope, Job Opportunities After Migrant Boat Capsize
President Abdel Fattah al-Sisi urged Egyptians not to leave their country, during a speech on Monday, a few days after a boat capsized off Egypt’s Mediterranean coast killing more than 160 migrants. During the inauguration of “Bashayer El Kheir” housing project in Alexandria’s Gheit El-Enab, Sisi directed his words to youth who immigrate illegally, saying…
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Algeria: Towards Lifting Ban On Used Car Import
The Government has decided, as part of the finance bill 2017, to lift the ban on used car import under some conditions, said Monday in Algiers Minister of Trade Bakhti Belaib. “We will lift the ban and draw up defined terms and conditions, which will allow not importing vehicles representing dangers to road users. This…
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Algeria: Import Licenses to Include Electrical Appliances, Agricultural Products
The import licenses system will soon include other industrial and agricultural products, particularly electrical appliances, soya and maize, announced Monday Trade Minister Bakhti Belaib. “This system will soon include other industrial products (electrical appliances and electronic products) and some agricultural products (maize and soya) whose import cost hit USD 3.5 billion,” the minister said at…
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Algeria: Guitouni – No Increase in Electricity, Gas Prices
Chief Executive Officer of the national electricity and gas group (SONELGAZ) Mustapha Gouitouni reassured customers that no increase in the prices of electricity and gas is scheduled for this year. There will no increase in the prices of electricity and gas, Guitouni told APS on the sidelines of a meeting with executives of Sonelgaz in…