Category: North Africa
-
Egyptians Will Soon Be Able to Purchase Dollars At Unified Rate – Sisi
President Abdel Fattah al-Sisi said that Egyptian would “very soon” be able to purchase U.S. dollars at a unified rate, Reuters reported. The gap between Egypt’s official and unofficial dollar rates hit its widest ever last week as the central bank’s official rate stood at EGP 8.78 to the dollar, while it reached EGP 13…
-
Egypt: More Electricity, Less Fuel, Lower Cost
GE has completed an upgrade at the Nubaria power plant in Egypt that is being implemented for the first time in the Middle East and African, and the third time globally. The upgrade was implemented on two GE heavy duty 9FA gas turbines that will help Egypt boost power generating capacity before the summer spike in electricity…
-
Egypt’s Central Bank keeps pound stable at 8.78 per dollar
The Central Bank of Egypt (CBE) kept the pound stable at 8.78 per dollar at its weekly foreign currency auction on Tuesday, the state-owned MENA reported. The CBE devalued the pound by about 14 per cent to reach EGP 8.78 against the dollar in March in an effort to close the gap between the official…
-
Egypt Keen to Revive Tourism By Luring More Chinese Tourists
Egypt has seen promising growth in the number of Chinese tourists this year, yet the country is exerting more efforts to increase the number in the near future, Egyptian Tourism Minister Yehia Rashed told Xinhua in an interview Sunday. The number of Chinese visitors to Egypt increased from 65,000 to 135,000 in 2015, and the…
-
Egypt’s Central Bank Keeps Pound Stable At 8.78 Per Dollar
The Central Bank of Egypt (CBE) kept the pound stable at 8.78 per dollar at its weekly foreign currency auction on Tuesday, the state-owned MENA reported. The CBE devalued the pound by about 14 per cent to reach EGP 8.78 against the dollar in March in an effort to close the gap between the official…
-
Algeria: Prices of Public Industrial Production Up 5.4 Percent in 1st Quarter
The prices of the non hydrocarbon public industrial production increase by 5.4% in the first quarter of 2016 in comparison with the same period 2015, the National Statistics Office (ONS) told APS. The increase is explained by an important hike of producing prices of the mining and quarrying sector (+34.3%) and those of energy products…
-
Algeria: Ink Three Industrial Investment Agreements Worth U.S$4.5 Billion with Indonesia
Three investment agreements worth US$4.5 billion have been inked Monday here between the National Public Companies and Indonesian industrial group. These agreements on joint-ventures were signed by CEO of Group Asmidal Miloud Louhichi and CEO of Manal Messaoud Houfani while the Indonesian side was represented by CEO Group Indorama Corporation, Sri Prakach Lohia. Under these…
-
Algeria: Over 1,140 Mines Dating From Colonial Era Destroyed in June 2016
A total of 1,147 mines, dating from the colonial period, were discovered and destroyed during the mine-clearing operation carried out by units of the People’s National Army along the country’s eastern and western borders in June 2016, said Monday an official source. Army units discovered and destroyed 14 antipersonnel mines and 4 anti-group mines in…
-
Egypt:High-Tech Jobs on the Ground Keep Economy Flying
Many different advanced skills are required to run an airline. While pilots get most of the attention, the technical and engineering knowledge required to maintain, repair and overhaul (MRO) aircraft engines are equally crucial. Only highly skilled professionals with advanced training can work on these machines. So as EGYPTAIR works with GE to expand its…
-
Algeria Able to Cut Imports By $30 Billion in Four Years
Algeria can reduce its imports by nearly $ 30 billion in four years, notably thanks to new projects related in cement, mining and vehicles, said Wednesday in Algiers Minister of Industry and Mines Abdeslam Bouchouareb. Algeria can locally generate nearly $30 billion of imports in cement, petrochemicals and emerging industries, like cars that have recently…