Economy
Algeria: Petrofac signed a contract worth over a billion dollars
ALGIERS - The British oil services group Petrofac signed Monday in Algiers with the In Salah Gas Company a contract for $ 1.185 billion to develop gas fields in the Algerian Sahara, said the news agency.
Transport vessels will stop in 10 days
Sources from the national shipping company of transport (SNTMV) revealed that the transport ships will stop all activity in approximately ten days from today, with the breakdown of reserve of fuel stock....
Benmeradi: 16 billion dollars to revive public industry
ALGIERS - Algerian state should spend 1100 billion dinars, or 16 billion dollars to restructure and revive the industrial sector, said Algerian Minister of Industry Mohamed Benmeradi quoted Wednesday by the press. ...
Yousfi: no other choice but to develop nuclear
ALGIERS - Algeria has no alternative at long-term other than nuclear energy to generate electricity, said Monday the Algerian Minister of Energy and Mines Youcef Yousfi, when many countries are reviewing their choice after the nuclear accident in Japan. ...
Signature in Algiers of an industrial partnership memorandum with Daimler
ALGIERS - Algerian authorities in Algiers signed on Tuesday a memorandum of partnership agreement to upgrade and extension of the production platform of industrial vehicles with the UAE Investment Fund Aabar of Abu Dhabi and the German group Daimler....
Algeria: trade surplus of 3.93 billion dollars in January-February
ALGIERS - Algeria has achieved a trade surplus of 3.93 billion dollars (2.77 billion euros) in January and February, up 36.09% over the same period in 2010, announced Monday Algerian Customs, quoted by the press....
Toyota orders are en route to Algeria
The CEO of Toyota Algeria, Noureddine Hassaïm said that a correspondence was forwarded by the main company to all its agents informing tham of the resumption of its activities from today Thursday after a three-day shutdown from March 14....
Algeria: decrease in the volume of goods passing through ports
ALGIERS - The volume of goods that transited through the commercial ports of Algeria fell last year by 2% compared to 2009, announced the Ports participation management Company (SGP-SOGEPORTS). ...
Renault vehicle assembly plant: negotiations progress
CEO of Renault Algeria, Stéphane GALOUSTIAN, said his company ranks first in the Algerian domestic market of automobile in 2010, after having managed to sell over 63,000 vehicles....
Renault achieves a sales growth despite the cancellation of car loans
Car dealers licensed in Algeria have decided not to discounts on their products at the upcoming International Auto show to be held from March 17 to 28 this year....
Brent crude at $118 on Libya and supply worries
(Reuters) - Brent crude rose to $118 a barrel and U.S. oil hit the highest since September 2008 on Monday as fighting in Libya disrupted its supplies and renewed concern of wider disruptions in the Middle East....
Return to car credit
Finance Minister, Karim Djoudi, said that a return to car loans could be in the new budget law and this, after being suspended two years ago in the supplementary budget law of 2009....
Spain now served via Almeria by Algerian gas
ALGIERS - The Medgaz, linking Algeria (Beni-Saf) to Spain (Almeria), was activated Tuesday by the CEO of Sonatrach, Noureddine Cherouat and Pedro Miro, Board Chairman of Medgaz consortium. ...
Foreign investment: 51/49% rule maintained
ALGIERS - The measure that prohibits any foreign investor to hold the majority stake in a production company remains in force in Algeria, said Sunday the Minister of Industry, SMEs and investment promotion Mohamed Benmeradi. ...
Algeria: wheat imports down to third in 2010
ALGIERS - The bill for imports of wheat in Algeria has fallen by a third last year, according to Algerian customs, partly because of measures taken by the state to boost local production. ...
Credit of 50 million centimes for unemployed youth
Algiers- Unemployed youth will benefit from an interest-free "additional" credit of fifty million centimes, which will allow them to rent space for commercial use or acquisition of a vehicle which will be arranged into a workshop ...
OPEC crude oil exceeds $ 100
The basket price of twelve grades of crude oil used as a reference to the Organization of Petroleum Exporting Countries (OPEC) has topped the $ 100 for the first time in two and a half years, reaching 100.59 dollars according to a statement released Tuesday....
Franco-Algerian partnership: "halfway" on three big issues
ALGIERS - Algerian-French negotiations of partnership in the production records of Renault, Total and Lafarge have advanced and are "halfway" agreements, announced Monday in Algiers, the French special envoy Jean-Pierre Raffarin....
Libya: fourth largest oil producer in Africa
TRIPOLI - Libya, a member of the Organization of Petroleum Exporting Countries (OPEC) is the fourth largest oil producer in Africa after Nigeria, Algeria and Angola, with nearly 1.8 million barrels per day and has reserves estimated at 42 billion barrels....
Raffarin: "the project of the metro in Algiers is dear to my heart"
ALGIERS - The special envoy of France in Algeria, former Prime Minister Jean-Pierre Raffarin said on Sunday "do everything" for the Algiers metro, a project under construction for 30 years and which takes "to heart", be open before the end of 2011....
Cancellation of the interest on loans for youth
Algiers- the government has decided to cancel the interest on loans for young people wishing to establish small and medium enterprises (SMEs), through mechanisms for the support of youth employment. Banks will have to finance a hundred thousand records per year....
Algiers and Rome, Cooperation in SMEs
ALGIERS - Algeria and Italy have agreed to enhance bilateral cooperation especially in small and medium enterprises (SMEs) during a visit to Algiers by the Italian Minister of Economic Development Paolo Romani....
Solar Energy: Italian banks join Desertec project
MILAN (Italy) - The two largest Italian banks UniCredit and Intesa Sanpaolo said on Friday they joined the project Desertec of giant solar power plants in North Africa and the Middle East. ...
Renewable Energy: Algeria will invest 60 billion dollars by 2030
ALGIERS - Algeria will invest about 60 billion dollars by 2030 to expand production of renewable energy, announced Tuesday the CEO of Algerian public Sonelgaz, Noureddine Boutarfa....
South Korean Minister of Foreign Affairs and Trade in Algeria
ALGIERS - South Korean Minister of Foreign Affairs and Trade Kim Sung Hwan, visiting Algeria, held talks Tuesday with Foreign Minister of Algeria Mourad Medelci strengthening relations between their two countries, reported the agency APS....
Benbada: sugar and oil riots were fabricated
In this interview he gave to Ennahar, Trade Minister Mustapha Benbada declared that prices of consumer products will be available to consumers in the month of Ramadhan this year ...
15,000 dinars monthly expenditure for food (Algerian family)
Algiers- a study of purchasing power, led by the General Union of Algerian Workers, in 2009, entitled "Budget of an Algerian family of seven people," revealed that it is impossible for a family of seven to provide for basic food and clothing, with a salary less than 29.31869 dinars per month. ...
Attack against a pipeline in Egypt: loss of 3.5 million USD per day for Jordan
AMMAN - The failure of supply of gas from Egypt after the bomb attack Saturday against a gas pipeline to Jordan cost losses of $ 3.5 million per day, according to a Jordanian official....
Asia: oil continues to rise because of Egypt
Oil prices continued to advance Wednesday in electronic trading in Asia, Brent brushing the 102 dollars a barrel in a market increasingly worried about unrest in Egypt and risks of contagion to other oil-producing country, said analysts....
Algeria: lower inflation to 3.9% in 2010
ALGIERS - Algeria's inflation rate reached 3.9% in 2010 against 5.7% in 2009, said Tuesday the National Statistics Office (NSO)....
Oil stable in New York
NEW YORK - Oil prices retreated Monday shortly after opening in New York, while market concerns arising from the revolt in Egypt subsided a bit. ...
Algeria is ready to boost competition in spite of bureaucracy
ALGIERS-The Algerian Minister of Commerce Mustafa Benbada said Thursday his country is ready to promote competition, as requested by the IMF, while noting the bureaucratic obstacles....
Lack of competition, a factor in the recent price surge
ALGIERS - The lack of competition in the distribution of food could have been a factor in the recent price surge in Algeria, which have caused riots in January, the IMF said. ...
High food prices: FAO "advises" to avoid restriction of exports
The UN organization for Food and Agriculture (FAO) "recommend" to avoid the restriction of exports from soaring food prices, in a guide published Wednesday destined for the developing countries....
Fourteen billion dollars investment by Sonatrach in 2010
ALGIERS - Algerian state Oil company Sonatrach invests $ 14 billion in 2010, up 7% compared to 2009, said Tuesday in Algiers CEO Nouredine Cherouati....
Algeria/ArcelorMittal resumes work after a week of strike
Annaba (Algeria) - The subcontracting personal of ArcellorMittal ended Tuesday a week of wildcat strike, to their final hiring by ArcelorMittal, after satisfaction of their claims, said here Tuesday the union....
Algeria: Nearly 32 billion euros of loans granted by banks in 2010
ALGIERS - Algerian banks have provided 32 billion euros (3,200 billion dinars) in loans in 2010, including nearly 29 bln euros for SMEs, said Monday Chief Executive of the Association of Banks and Financial Institutions ( ABEF) Abderrahmane Benkhalfa. ...
Algeria: trade surplus rose sharply to 16.45 bln USD in 2010
ALGIERS - Algeria has recorded a trade surplus soaring to $ 16.45 billion in 2010, against 5.90 billion dollars in 2009, mainly thanks to oil exports, said on Monday the Algerian customs. ...
The Maghreb accelerate its purchases of grain to avoid a Tunisian scenario
Maghreb countries, worried about a contagion of the Tunisian revolution, buy bulk grains to prevent possible riots, the risk of further increase of food prices worldwide. ...
