Maghreb Business
Features
2008-08-13 Remittances from Moroccans have been on the rise. The government hopes more Moroccans overseas will invest in their country of origin.Continue...
2008-08-12 Morocco and Spain are working to finalise plans for a tunnel under the Strait of Gibraltar, to present to a joint EU-Moroccan commission in October. If successful, the tunnel would link Africa to Europe by rail.Continue...
2008-08-12 In an effort to halt the brain drain in Algeria, President Abdelaziz Bouteflika has decided to end scholarships granted to top test-takers. The move has met with mixed reactions from Algerian universities.Continue...
2008-08-08 Since the Morocco-Algeria border closure in 1994, any potential resolution of the issue has been slowed by politics. Bankers and business leaders, however, argue that shared economic interests should soften hardened political positions.Continue...
News Briefs
Violent winds topple Algerian electricity towers
2008-08-18 Algeria's Sonelgaz said violent winds brought down five high-tension electricity pylons, leaving large parts of Biskra and Djelfa without electricity since Thursday, Tout sur l'Algerie reported on Sunday (August 17th). The towers supply the electrical substation of Ouled Djellal. Sonelgaz said power should be restored on Monday.
Morocco leads Mediterranean micro-finance market
2008-08-18 Morocco is the largest market for micro finance in the Mediterranean region, the Facility for Euro-Mediterranean Investment and Partnership (FEMIP) said last week, MAP reported on Sunday (August 17th). The amount of disbursed funds was $727.4m by the end of 2007.
Belkhadem to represent Algeria at Africa-Turkey summit
2008-08-18 Algerian President Abdelaziz Bouteflika sent former prime minister Abdelaziz Belkhadem to represent Algeria at the Africa-Turkey summit Tuesday in Istanbul, El Khabar reported on Monday (August 18th). The meeting aims to boost partnerships between African countries and Turkey. Algeria did not attend a similar initiative a month ago in Ankara which addressed commercial issues rather than infrastructure development, El Khabar noted
Deadly livestock disease spreads in Morocco
2008-08-15 The UN Food and Agricultural Organisation will help Morocco fight a livestock disease which hit the country in July, MAP reported on Thursday (August 14th). The illness has already killed 1,449 animals, mainly sheep and goats. Officials say it has spread to several regions of the country, particularly Fez and Al Hoceima in the Rif Mountains.
Tunisian foreign investments up 43% this year
2008-08-15 Tunisia's foreign direct investments grew 43% percent in the first half this year, Reuters quoted government figures as showing on Thursday (August 14th). The rise is mainly driven by tourism and real estate, which rose sharply to 166.4 million dinars in comparison to 7.7 million dinars in the same period in 2007. Reportedly, the country is targeting to lure investors from the Gulf region into the real estate sector to develop projects worth $50-60 over the 15 next years. The country attracts the foreign investors due to its steady economic growth, political stability and business reforms, and the government predicts foreign investment to account for 26.1% of the GDP 2016 from 22.7% currently.
Algeria considers regulating used car market
2008-08-14 Algeria is currently preparing a draft law to regulate the used vehicle market, a trade ministry official said on national radio Wednesday (August 13th), Tout sur l'Algerie reported. The Ministry of Trade had not said whether the bill, which will be implemented later this year, will include a tax on the sale of used vehicles.
Sonatrach reduces investment debt
2008-08-14 The investment debt of Algerian oil company Sonatrach has been significantly reduced in 2007 through the early settlement of debts, according to its financial report for 2007, APS reported on Thursday (August 14th). The investment debt decreased by 67% between 2002 and 2007.
Thirty people injured in pipeline explosion in Algeria's Zemmoura
2008-08-14 Some 30 people were injured in an explosion along a pipeline in Zemmura, 600 km west of Algiers, Le Quotidien d'Oran reported on Wednesday (August 13th). Seventeen people were burned by flames caused by the explosion, El Khabar said. A gas leak is suspected as the cause of the conflagration.
Sonatrach, Total joint venture approved by European Union
2008-08-13 The EU on Tuesday (August 12th) approved a 3 billion-euro joint venture in between French oil group Total and Algeria's Sonatrach, international press reports said. The entity, to be based in Arzew, will produce various types of polyethylene and ethylene.
Mauritania to receive aid from World Food Programme
2008-08-13 The UN World Food Programme has earmarked $214m to mitigate the effects of high food and oil prices in 16 countries, including Mauritania, AP reported on Wednesday (August 13th). Some 550,000 vulnerable people in Mauritania will benefit from the programme. The country imports more than 70% of its food demands.
