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Egypt's Arrears to Foreign Oil Firms Fall to $900 Million

Egypt's Arrears to Foreign Oil Firms Fall to $900 Million

Egypt's arrears to foreign oil companies declined to $900 million at the end of June from $1.2 billion a year ago, the petroleum minister said on Thursday, adding that the remaining amount would be paid soon. "The foreign companies' arrears dropped at end of June to $900 million, down from $1.2 b

Banks Draw Fresh Dollars to Lebanon with High Interest Deposits

Banks Draw Fresh Dollars to Lebanon with High Interest Deposits

Lebanese banks are drawing fresh dollars to the country by offering high interest rates on large sums blocked for three years, bank economists said on Thursday, a move aimed at supporting central bank reserves that have been in decline. The Lebanese banking sector has in recent years conducted si

Morocco: High Planning Commissioner Calls for Exploiting Inflation to Encourage Growth

High Planning Commissioner Ahmed Lahlimi Alami noted that the majority of emerging economies are witnessing an inflation rate of more than seven percent, while inflation in Morocco rated less than one percent. He criticized the government for encouraging foreign investment by major companies rath

Egypt Looks Forward to Restructuring Taxes of Bourse Transactions

Egypt Looks Forward to Restructuring Taxes of Bourse Transactions

The Egyptian Parliament’s Budget and Planning Committee has approved fixing the stamp tax on the stock exchange transactions at 1.5 per thousand until the Ministry of Finance and Stock Exchange completes the restructuring of the tax system in the market, Chairman of the Egyptian Stock Exchange (EGX)

Oil Prices Drop as Trade Disputes Outweigh Supply Concerns

Oil Prices Drop as Trade Disputes Outweigh Supply Concerns

Oil prices dipped on Tuesday on demand concerns following the latest signs the US-China trade war is dragging on the global economy, although the potential for conflicts in the Middle East offered support. Brent crude futures were down 14 cents, or 0.2%, at $63.97 a barrel by 0524 GMT.

Tunisia's Tourism Revenues Jump 42.5% in First Half 2019

Tunisia's Tourism Revenues Jump 42.5% in First Half 2019

Tunisia’s tourism revenues soared 42.5% in the first half of 2019 to $692 million compared to the same period last year, official figures showed on Monday. The figures came days after three suicide bombings in Tunis, by militants targeting police, as Tunisia prepares for autumn elections and is i

African Leaders Launch 'Historic' Free Trade Deal

African Leaders Launch 'Historic' Free Trade Deal

African nations officially launched a landmark trade agreement at the African Union summit in Niger on Sunday, with the long sought-after agreement hailed as a historic step towards "peace and prosperity" across the continent. After 17 years of tough negotiations, the AU launched the "operational

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