NewsNorth Africa

Wed,17Jan2018

North Africa

Egypt: Minister under pressure to resign after wheat commission's corruption report

Photo©Amr Nabil/AP/SIPAA fact-finding commission investigating corruption in Egypt's domestic wheat supplies has delivered its final report to parliament, a lawmaker said on Monday, amid mounting pressure on the minister of supplies to resign.

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Egypt to end fuel subsidies within three years

File photo©Matt Rourke/AP/SIPAEgypt plans to end fuel subsidies within three years and is aiming to increase fuel prices to 65 percent of their actual cost during the 2016/17 fiscal year.

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Libya sovereign fund claimant denounces U.N.-backed govt's management plan

AbdulMagid BreishA claimant to the chairmanship of Libya's $67 billion sovereign fund on Monday denounced the appointment by the country's United Nations-backed government of a panel to run the fund, saying he had not been formally asked to step down.

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Egypt to get $2bn deposit from Saudi Arabia

Egypt's International Cooperation Minister Sahar Nasr. Photo©Mohamed Abd El Ghany/ReutersEgypt signed a deal earlier this year for a $2bn central bank deposit from Saudi Arabia, International Cooperation Minister Sahar Nasr said on Thursday.

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Nigeria oil min says OPEC cuts unlikely, Algeria meeting could help price

Nigerian oil minister Emmanuel Ibe Kachikwu. Photo©Heinz-Peter Bader/ReutersNigerian oil minister Emmanuel Ibe Kachikwu said on Thursday that while a cut in OPEC production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude prices.

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African countries threaten UN Security Council pull-out

Photo© Rick Bajornas/AP/SIPAAfrican countries are reportedly threatening to withdraw from the United Nations Security Council unless they are allocated a permanent seat.

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