Business & Economy Bound

Libya’s oil production to resume after lifting force majeurF

Tripoli, July 10, 2020 - The Libyan National Oil Company announced Friday the resumption of oil production and exports after a nearly six-month shutdown due to conflict dividing the country. "The NOC has lifted force majeure on all oil exports from Libya," the company...
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Egypt: Cairo has two new airportsF

President Abdel Fattah al-Sisi on Monday inaugurated two more airports near Cairo in a bid to lure tourists as Egypt aims to recover from the economic downturn caused by coronavirus. One airport is in Egypt's new administrative capital, about 50 kilometres (30 miles)...
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Egypt’s Shalateen Mining Company finds gold deposits in Eastern DesertF

Egypt has discovered a gold deposit estimated at more than one million ounces in the country's southeast, the petroleum ministry said Tuesday. "The discovery .... is worth over $1 billion in investments over the next 10 years," the ministry said in a statement. The...
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Egypt’s debt rising: $5 billion more from IMFF

The IMF board on Friday approved a one-year, $5.2 billion financing package for Egypt to help the country alleviate the economic impact of the COVID-19 pandemic. The new funding under a standby arrangement comes on top of $2.8 billion in emergency aid the IMF board...
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