Category: North Africa
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Algeria’s Gas Production Expected to Boom As From 2018
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…
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Egypt: CBE Holds Exceptional Dlrs 200 Million Auction
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…
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Algeria Must Pursue Reforms, Suggests IMF
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.…
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Egypt Bourse Indexes Up At Early Trading
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…
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Algeria’s Foreign Exchange Reserves Down to U.S.$ 143 Billion Late 2015
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…
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Algeria: Textile Industry – Several Public-Private Partnership Agreements to Be Signed By June
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…
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Egypt: CBE Depreciates Egyptian Pound to 8.85 Per Dollar – Sources
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…
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Tunisia: Food Trade Balance – Coverage of Imports Through Exports Drops to 80.6 Percent
The coverage of food imports through exports has dropped in the first two months of 2016 to 80.6% from 123% in the same period in 2015, according to data from the Ministry of Agriculture, Water Resources and Fisheries published Saturday. The Department explains this decrease by the significant decline in export revenue (-41%) and imports…
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Africa 2016: Business for Africa, Egypt and the World
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…
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Renewable Energies – Call for Investors in Summer 2016
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…