NewsNorth Africa

Thu,21Jun2018

North Africa

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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UN says 239 migrants die in two shipwrecks off Libya

Refugees sit in a inflatable boat off the Libyan coast in the Mediterranean Sea. Photo: Christian Ditsch/AP/SIPAAt least 239 migrants, believed to be from West Africa, have died in two shipwrecks off Libya, a spokesman for the United Nations migration agency, said on Thursday.

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Tunisia to offer $50bn of projects to foreign investors

Tunisia's Investment Minister Fadhel Abdelkefi in Tunis, Tunisia. Photo: Zoubeir Souissi/ReutersTunisia will offer foreign investors and financiers participation in $50bn of projects as it seeks to create jobs to maintain political stability, the country's investment minister said.

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Libya resumes output at key Waha oilfield

Oil workers at a refinery inside the Brega oil complex in eastern Libya. Photo: Hussein Malla/AP/SIPALibya resumed production at the key Waha oilfield last week bringing overall production to 580,000 barrels per day, a senior Libyan oil official said on Tuesday.

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Barclays sells Egyptian business to Morocco's Attijariwafa Bank

The logo of Barclays is seen on the top of one of its branch in Madrid, Spain. Photo: Sergio Perez/ReutersBritain's Barclays has completed the sale of its Egyptian business to Morocco's Attijariwafa Bank as part of its shift towards focusing on the United States and Britain.

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Chinese company to spend $20bn developing second phase of Egypt's new capital

A model of a planned new capital for Egypt is displayed for investors. Photo: Amr Abdallah Dalsh/ReutersChina Fortune Land Development (CFLD) has signed a deal to develop and manage 14,000 acres (5,700 hectares) of Egypt's new administrative capital at a cost of $20bn, the Egyptian cabinet said in a statement on Monday.

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