NewsNorth Africa

Sun,11Dec2016

North Africa

Egypt central bank governor says intervention in currency market is "history"

Egyptians walk past a poster showing a US dollar outside an exchange office in Cairo, Egypt, 3 Nov, 2016. Photo: Amr Nabil/AP/SIPAEgyptian Central Bank Governor Tarek Amer has said nothing would prompt him to intervene to prop up the pound after floating the currency in a dramatic move last month, calling those policies "history".

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Tunisia ushers in new economic era after raising $14bn

Tunisia drummed up billions of dollars of support for its young democracy at the Tunisia 2020 conference. Photo: Hassene Dridi/AP/SIPATunisia's Prime Minister Youssef Chahed has heralded the return of his country to the global economic stage after an international investment conference* attracted more than $14bn in funding.

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Regional partners pledge billions in help for Tunisia

Tunisian President Beji Caid Essebsi, centre, Qatar's Emir, Sheikh Tamim bin Hamad al-Thani, left, and French Prime Minister Manuel Valls attend the opening ceremony of the Tunisia 2020 conference in Tunis. Photo: Hassene Dridi/AP/SIPAQatar said it would provide $1.25bn in aid to shore up Tunisia's post-revolution economy as regional and Western partners pledged extensive financial backing at an investment conference on Tuesday.

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Tunisia to borrow €400m from EU

European Investment Bank President Werner Hoyer addresses the media. Photo: Yves Logghe/AP/SIPAThe European Investment Bank (EIB) has agreed to grant loans to Tunisia worth €400m for youth and infrastructure projects, the Tunis government said on Monday.

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Boost to Algeria's economy through steel plant joint venture

Most of Algeria's steel is imported at the moment. Photo: Reuters/stockDubai-based conglomerate Emarat Dzayer Group said it had signed a joint venture agreement to develop a $1.6 bn steel factory in Algeria, boosting the North African country's drive to diversify its economy and attract foreign investment.

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Morocco's winds of change

Morocco is at the vanguard of pushing international financial institutions to invest in green power project. Photo by Paul LANGROCK/ZENIT-LAIF-REA

A remarkable political balancing act has allowed Morocco to keep competing structural forces in play rather than in conflict. In business too, the government is keen to ensure its interests and those of the business community are in harmony

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