Business & Economy Bound

Algeria: Sonatrach oil company operating without CFOF

Since March 2020, Sonatrach has been operating without a Chief Finance Officer (CFO), despite a presidential decree announcing the appointment of Hadj Djilali Abouda. Abouda was appointed Vice President of Finance by a presidential decree on 30 March, but he never...
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Egypt wants tourists to return, reopening Red Sea resortsF

Cairo, June 10, 2020  - Hotels have ramped up hygiene, archaeological sites have been sanitised and beaches cleaned up -- Egypt is gearing up to welcome back tourists kept away by the coronavirus pandemic. "We are laying the groundwork for tourists from around the...
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Libya: With Haftar forces on the run, Libya resumes oil production at al-FilF

Tripoli, June 8, 2020 - Libya's National Oil Company said Monday it had restarted production at Al-Fil oil field, closed since January by the forces of eastern military strongman Khalifa Haftar. The NOC's announcement came a day after output resumed at Al-Sharara oil...
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Egypt’s debt rising with another large IMF loanF

An IMF team has agreed on a one-year, $5.2 billion financing package for Egypt to help the country alleviate the economic impact of the COVID-19 pandemic, the fund announced Friday. The IMF board must still approve the financing from the fund's Rapid Financing...
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