Economy
Algeria’s trade surplus rose to 10.3 billion dollars in 5 months
ALGIERS - Algeria has achieved a trade surplus of 10.39 billion dollars between January and May 2011, against 8.2 billion dollars during the same period in 2010, customs announced Sunday.
Sharp drop in the number of Algerian firms that export
ALGIERS - The number of Algerian firms of non-oil exports fell sharply since the 80’s from 280 to 40 today, revealed Saturday in Algiers, the Minister of Industry, SMEs and promotion of Investment Mohamed Benmeradi. ...
Algerian banks subject to a rating system
ALGIERS- The Algerian banks will be subject to a rating system to preserve the stability of the financial system, said Thursday in Algiers Mohamed Laksaci, Governor of the Bank of Algeria....
Reduction of customs measures for the benefit of importers
Alger- the Customs has to make further relief measures for the benefit of a number of economic operators, having the status of "Authorised Economic Operator", as prescribed by section 38 of the Finance Act 2010...
EU-Algeria agreement renegotiated before end of year
ALGIERS - Algerian Foreign Minister Mourad Medelci confirmed Monday that the principle of postponement of tariff elimination in 2020 was acquired and that the Association Agreement between Algeria and the European Union (EU) would be concluded" by the end of the year."...
Tariff Elimination: no agreement between Algeria and the EU
ALGIERS - Algeria and the European Union (EU) have not yet reached an agreement to postpone until 2020 a tariff reduction provided by their association agreement, announced Sunday the Algerian Minister of Commerce, Mustapha Benbada, denying the previous information....
Sonatrach a stake in Spain's Gas Natural Fenosa
ALGIERS - The Algerian public company Sonatrach announced on Friday taking a share of 3.8% of Spanish energy group Gas Natural Fenosa after the financial settlement of the dispute that pitted the price of gas delivered to Spain. ...
Social measures in supplemental budget adopted at the parliament
ALGIERS - Algerian National People's Assembly (APN) Wednesday passed the complementary Finance Act (CFL 2011), which includes a series of economic and salary measures in response to the discontent of the population....
Algeria-EU agreement for deferral of tariff dismantling
ALGIERS - Algeria and the European Union (EU) reached an agreement to postpone to 2020 the dismantling of tariff and that will be refined starting Wednesday in Brussels during the 5th round of negotiations, APS reported....
Bouderbala: 60% of imports are counterfeit
ALGIERS - Nearly 60% of imported products in Algeria for resale in the state are counterfeit, said Tuesday the Director General of Algerian Customs Mohamed Abdou Bouderbala....
OPEC fails to find a consensus to raise its quota
VIENNA- OPEC Oil ministers, meeting in Vienna on Wednesday, failed to agree on an increase in their production quotas, which should remain unchanged until the next meeting of the cartel in December....
Budget amended by parliament
ALGIERS - The announced measures to address the social unrest in Algeria will cause a budget deficit of 33.9% of GDP, according to the amended 2011 budget, presented for the first time in parliament on Sunday by Finance Minister Karim Djoudi....
Algeria: Qaddafi's assets frozen
ALGIERS (Algeria) - Algerian Minister of Finance Karim Djoudi has ordered the freezing of assets of the Libyan leader Muammar Gaddafi, members of his family and entourage, reported Saturday the Arabic-language daily Echourouk....
OPEC: higher production quotas, but without compensating Libya
LONDON - the production of members of the Organization of Petroleum Exporting Countries (OPEC), meeting in Vienna on Wednesday, remains well above the quotas decided within the cartel, however, but cannot compensate the collapse of Libyan production....
Algeria-France: signing of Saint-Gobain - Alver agreement
ALGIERS - The agreement between the French group of glass production Saint-Gobain and the Algerian group Alver for acquiring the Algerian leader of glass was signed on Monday in Algiers during the Forum of Algerian-French partnership, according to French and Algerian sources. ...
The Maghreb can not do without foreign investment
French State Secretary for Trade Pierre Lellouche said Monday in Algiers that "the Maghreb could not do without foreign investment" while opening the Franco-Algerian forum bringing together nearly 700 companies....
Algeria-France: Lellouche: "Those who look in the mirror are wrong"
"Those who look in the mirror are mistaken," said Monday in Algiers, French State Secretary for Trade Pierre Lellouche inaugurating a partnership forum bringing together nearly 700 companies in a "new page" in the Franco-Algerian ties....
Ansej debts will not be erased
Algiers- Prime Minister declared that the debts of young investors as part of the National Agency for Employment Support of Youth (Ansej), cannot be erased...
Arcelor Mittal: 18% salary increase promised, end of the strike
ALGIERS – The thousands of workers on a general strike at Arcelor Mittal steel complex Annaba, Algeria subsidiary of global giant in the steel industry, was back at work Sunday after getting 18% salary increase, according to union sources....
The government will facilitate imports for producers
ALGIERS - The Government, employers and official Algerian trade union in the meeting Tripartite decided to waive administrative provisions that slowed the supply of production companies, according to a statement released Sunday....
Algeria-France: a partnership forum to strengthen ties
ALGIERS - More than 500 French and Algerian companies will meet Monday and Tuesday in Algiers to a partnership forum that could bring "some confidence" between the two countries, according to a senior Algerian, Mohamed Benmaradi....
Ouyahia: negative business climate for investment
ALGIERS - Algeria's business climate does not encourage investment in this country despite government efforts to remove obstacles to its improvement, said Saturday Algerian Prime Minister Ahmed Ouyahia....
Partial strike at Arcelor Mittal in Annaba
ALGIERS - Workers of ArcelorMittal Annaba, Algeria subsidiary of global giant in the steel industry, have begun an indefinite general strike Saturday, told AFP Saturday their spokesman Smain Kouadria....
The government to suspend assistance to importers of oil and sugar
Algiers- the government decided to stop its support for importers of two products that are widely consumed; edible oil and sugar from September 1 next....
The CEO of a U.S. company arrested for spying
Algiers- Security services have opened an investigation into a branch of the American company "AC Nielsen" in Algeria, suspected of being involved in espionage and capital transfer. The latter illegally gathers information on Algerian commercial products, without an authorization from the official institutions...
Investigation on former ministers and recovery of 150 billion
The national commission for fight against corruption has, according to credible sources of Ennahar, opened an investigation at the request of the President of the republic, involving many former officials...
Sonatrach could become a shareholder of Gas Natural to settle their dispute
Algerian oil company Sonatrach could take up to 10% of Spanish gas group ‘Gas Natural Fenosa’ to resolve the financial dispute between them on the price of gas delivered to Spain, said Tuesday the newspaper Cinco Dias....
Investors in local product to be exempt from VAT
Algiers- The government has decided to reduce to 25% the price of local products, produced by Algerian investors. This decision comes in the framework of the Executive Order establishing the rates and patterns of application of the commitment by giving priority to Algerian products and services which will benefit from an exemption of tax on value added VAT...
Series of government measures to allay popular discontent
ALGIERS - Faced with systematic strikes since the beginning of the year, the Algerian government has adopted a draft of Supplementary Budget Law (CFL) 2011 which will boost the purchasing power and boost the SME sector....
CNEP bank to finance youth projects
Algiers- The government gave the green light to National Savings and Provident (CNEP), whose role was limited to fund promotional housing, financing of economic activities....
Customs agents and inspectors steal and resell seized goods
The case of an emigrant in France, sued for having illegally brought spare part for the purpose of reselling them in the Algerian market, has revealed the illegal practices and exceedances at the port of Algiers by executives which are currently under criminal investigation, following complaints filed by the same emigrated....
Algeria/ Japan : Agreement to extract gas in south-eastern Algeria
ALGIERS - The Association Sonatrach-BP-Statoil has signed a $ 213 million with the group JGC (Japan Gas Corp.) to optimize the production of gas fields in In Amenas, south-eastern Algeria. ...
One year in prison for the former CEO of Sonatrach
ALGIERS - The former CEO of the Algerian oil company Sonatrach, Mohamed Meziane, was sentenced Tuesday by a court in Oran (400km west of Algiers) to two years including one year in prison for embezzlement, reported the Algerian state media. ...
First bank agency "Free Service" opened in Algiers
ALGIERS - A first branch "free Service" in Algeria was opened Monday by the Foreign Bank of Algeria (BEA, public) in the centre of Algiers, APS reported....
Bouteflika cancels six exploration contracts with foreign companies
Algiers- President Abdelaziz Bouteflika, has cancelled contracts in millions of dollars by Sonatrach, signed by former Minister of Energy and Mines, Chakib Khelil with Chinese, Vietnamese, Spanish and Gulf companies in the field of oil exploration in southern Algeria....
New DZD 2,000 note in circulation from Thursday
LGIERS - The new banknote of DZD 2,000 which will be released from Thursday is expected to contribute "to refresh the currency and to make it more available," in addition to fighting against counterfeiting, the issuing institution said. ...
Benmeradi considers "positive" his recent visit to France
ALGIERS - Algerian Minister of Industry, Small Business and Investment Promotion, Mohamed Benmeradi, Monday described as "positive" and "very beneficial" a recent working visit to France....
Algeria: more than 4 billion dollars of trade surplus in Q1
ALGIERS - The trade balance of Algeria has recorded $ 4.24 billion surplus in Q1 2011 against 3.37 billion the same period in 2010, an increase of 25.64% in full increase in oil prices according to official figures released Monday....
5 years exemptions and tax reductions for unorganized retailers
Algiers- The government decided to exempt from tax small businesses operating in unarranged places and, for a period of two years in order to encourage them to go to a legal business activity....
