NewsNorth Africa

Sat,21Apr2018

North Africa

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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Egypt's fintech innovators pick up speed

Candidates brainstorm at the 1864 accelerator bootcamp. Photo: Vinciane Jacquet for The Africa ReportA highly informal economy has inspired tech innovators to find tailored solutions, and investors are responding.

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Morocco signs deal with Boeing to attract suppliers

The Boeing logo is seen at their headquarters in Chicago. Photo:Jim Young/ReutersMorocco has signed an agreement that Boeing will seek to attract its suppliers to boost the kingdom's aeronautics industry.

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Egypt targets $10bn in foreign investment as it upgrades infrastructure

Banks, hotels and office buildings are seen around residential buildings at the center of downtown in Cairo, Egypt August 11, 2016. REUTERS/Amr Abdallah DalshEgypt hopes to attract $10bn in foreign direct investment (FDI) next year and will automate the process of establishing a company, its investment chief said, highlighting efforts to revive the economy and earn much-needed hard currency.

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