The Egyptian pound is still going through its worst period after reaching a new all-time low against the United States dollar at an average of LE6.92. According to the Central Bank, the devaluation of the local currency will only worsen the country’s situation. On the black market, it’s even more expensive, and a dollar is [...]
The National Agency for Investment Development (ANDI) and a Turkish company registered in Algeria as Tosyali Iron & Steel Industry-Algeria have signed an agreement to build a steel plant in Oran, 432km west of Algiers. The cost of the plant is estimated at more than 13 million Euros. The plant, to be completed in 2 [...]
Libya and Turkey have voiced determination to increase their trade by over 25% this year. The Turkish economic minister, Zafer Caglayan, said Ankara and Tripoli want to upgrade their trade which stood at $3.4 billion in 2012 to $5 billion this year and up to $10 billion in a couple of years. Almost a decade [...]
At least 14 countries will be taking part in this year’s Tour d’ Algeria 2013, Tours de Bilda and Tipaza to be held from 11th to the 23rd of march. Registration has come to an end. The Algerian Cycling federation (FAC) at the departing point for the caravan of the 3rd edition for the Tour [...]
After a meeting which seems to be a successful one between Turkey and Libyan officials with the Turkish Energy Minister quoted saying he is “satisfied” with the discussions held with the Libyan Oil Minister Abdulhadi al-Arusi over energy ties. The Turkish minister said that Turkish companies are working in parts in of Libya but it’s [...]
In what could be described as a bilateral free trade financial cooperation between Egypt and Turkey, the two countries are looking at the possibilities of establishing an alliance between their two stock exchange markets. The establishment of such an alliance will permit investors from the two countries to trade on each other’s market. Negotiations have [...]
Turkey has shelled Syrian government targets after one of its border town, Akcakale, registered five civilian casualties from an “artillery fire belonging to the Syrian regime forces” a statement from Erdogan’s office stated. Turkey backed its retaliation with the rules of engagement and international law citing that such actions will not be ignored. Syrian officials [...]
The Egyptian Muslim Brotherhood-led government has managed to obtain a $ 2 billion aid package from Turkey, which stepped in to help the most populous country in the Arab world weather an economic crisis that has become acute, with an estimated budget shortfall of $12 billion. The financial package was sealed during a visit paid [...]
Piracy acts off the Horn of Africa have fallen sharply to 46 pirate attacks in 2012, compared with 222 acts in 2011 and 239 in 2010. The figures were disclosed by the United States Navy which attributed the de crease to aggressive patrolling conducted by international navy forces from more than a dozen countries and [...]
Three suspected members of al-Qaida have been arrested in Spain, it was officially announced in Madrid Thursday. Spanish Interior Minister Jorge Fernandez Diaz who made the announcement told reporters that two of the group members were arrested Wednesday and the third Thursday. Two of them were on a bus traveling to France when they were [...]
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