Business & Economy Bound

Egypt: Access toll on Suez Canal increases by 6%F

Egypt's Suez Canal Authority said Thursday it will hike transit tolls on the key waterway by six percent, after netting record revenues last tax year even amid the coronavirus pandemic. The new fees will come into place from February 2022, but tourist vessels and...
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Algeria to halt gas exports to Spain via MoroccoF

Algerian President Abdelmadjid Tebboune on Sunday ordered state energy firm Sonatrach to halt gas exports to Spain through a pipeline that traverses Morocco due to tensions with Rabat.  Algeria, Africa's biggest natural gas exporter, has been using the...
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Elusive peace: Libyan militias damage only functioning oil refinery during violent clashF

Libya's only operational oil refinery was "severely" damaged after gunmen battled for three hours around the complex, the National Oil Corporation said. "The Zawiya Oil Complex was severely damaged as a result of skirmishes by armed groups," Libya's state oil company...
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Morocco: Public investment to consumer $27 billion next yearF

Morocco will spend a record 23 billion euros ($27 billion) on public investment in the coming year to right an economy shaken by the coronavirus pandemic, the economy minister announced on Tuesday. The government is planning to "mobilise public investment of 245...
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