Business & Economy Bound

Egypt: Cargo ship briefly grounded in Egypt’s Suez CanalF

A cargo ship ran aground Thursday in Egypt's Suez Canal before it was quickly refloated without interrupting traffic, the authority in charge of the vital waterway said. The Hong Kong-flagged Xin Hai Tong 23 bulk carrier was refloated after "a sudden malfunction of...
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Algeria’s wheat imports to hit record volumes this summer ($)F

The Algerian cereal authority, the Interprofessional Cereals Office (OAIC) has just placed a purchase order for soft wheat of between 500,000 to 600,000 tons for a delivery planned in the upcoming summer.  The purchase will take place in a context of drought affecting the main cereal-growing regions of Algeria. This order, described as important, is seen as the continuation of Algeria’s policy to strengthen its wheat stocks. In a note to client, data firm Agritel points out that likely, Russia will be a key supplier, alongside other European countries, that will inevitably include France. The purchase price is around 276 dollars per ton, costs included with delivery in summer.

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Tunisia: UGTT union chief rejects talks with IMF in fear of tough austerity measuresF

Tunisia's largest union on Monday attacked the government's handling of negotiations with the IMF on a loan to bail out the North African country as it slides deeper into debt. Tunisia is seeking a bailout package worth nearly $2 billion from the International...
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Morocco: Despite being an agricultural powerhouse, Morocco is experiencing soaring food pricesF

By Ismail Bellaouali: Soaring inflation in Morocco is driving up living costs and stirring public anger, and as food prices increase the country's export-led agricultural model is coming under fire. On April 8, protesters gathered outside parliament in the capital...
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