North Africa’s Economy
Tunisia: Worsening economy risks destabilizing Tunisia
Tens of thousands of Tunisians have lost their jobs in a worsening economic crisis exacerbated by efforts to stem rising cases of novel coronavirus, a key employers' federation has warned. "The first wave of the epidemic (March to June) resulted in the loss of 165,000...
Tunisia’s tourism sector collapses with 60% drop in earnings
Tunisia's tourism sector has collapsed, officials warned Saturday, with earnings plunging 60 percent and swathes of hotels at risk of closing permanently. The sector, a major employer that accounts for 14 percent of the North African nation's GDP, has been hit hard by...
Libya: Russian and other mercenaries still impeding oil sector activity in Libya
"force majeure continues on the oil fields and ports that confirmed the presence of elements of Wagner gangs and other armed groups that impede the activities and operations of the National Oil Corporation". Libya's state oil firm lifted force majeure on what it...
Libya: Warlord Khalifa Haftar wants money from oil revenues as condition to lift blockade of oil fields
Libyan strongman Khalifa Haftar announced Friday a conditional lifting of a months-long blockade on oilfields and ports by his forces. "We have decided to resume oil production and export on condition of a fair distribution of revenues" and guarantee they "will not be...
Economy: Plethora of problems are hitting Algerian winemakers hard
Sidi Bel Abbes, Algeria - Algerian winemaker Dahmane Hamamouche used to rise early and rush to work each morning, but he no longer bothers, as his firm chokes on a cocktail of woes. Long accustomed to nasty surprises including unpredictable weather patterns and...
Morocco: Business sector bracing for hard times ahead ($)
The Moroccan economic sector is struggling with the effects of Covid-19. Some businesses are being punished for breaching the confinement rules, others are on the brink of bankruptcy, with the prospect of seeing hundreds of thousands of people out of work. For lack of...
Companies: Series of blunders result in millions of dollars of losses to Algeria oil firm Sonatrach ($)
After the disastrous oil leaks last week that took place on one of its pipelines in El-Oued and the problems that prompted a halt in activity in the LNG facilities in Skikda and Arzew on 7 September, Sonatrach experienced an explosion that reportedly damaged a large...
As Algeria-EU trade deal approaches, Algerian officials want new terms
Algiers, Aug 23, 2020 - Days ahead of a final deadline, activation of a long-planned Algeria-EU trade deal risks unravelling as political and business leaders in the North African country warn it will undermine economic sovereignty. The deal is meant to come into...
Opec reports members’ conformity to lower production, signals market improvements
Opec ministers stuck to an agreement to lower oil production at a monthly meeting Wednesday, underlining that only strict compliance could restore stability to prices undermined by the coronavirus pandemic. Ahead of a virtual meeting of OPEC and non-OPEC producers,...
Libya: Tripoli airport re-opens
Tripoli, Aug 11, 2020 - Flights out of the Libyan capital's only working airport have resumed, after a four-month suspension due to fighting and a shutdown to curb the coronavirus pandemic. The first flights took off Sunday from Mitiga airport in Tripoli's eastern...