Economy
Isaâd Rebrab: 4 operators were behind the rise in oil prices that has caused riots
Algiers- CEVITAL Group CEO said, in an interview he gave to Ennahar, he was ready to prevent any foreign investor from investing in Algeria in the production of white sugar. He said he will work in the interest of the national market and make of it an export hub, as he is the second most important export after oil.
Renault Algeria: We're not ready to go!
"Renault is still there and will remain there because Algeria is a booming country," says the spokeswoman of the CEO of Renault Algeria. ...
Algeria has imported over one billion dollars of oil and sugar
ALGIERS- Algeria has imported over one billion dollars (nearly 800 million euros) of brown sugar and crude oil in 2010, two commodities whose prices have soared, leading to deadly riots, said Wednesday Customs. ...
Semmar wholesale market: Billions flowing in a slum
ALGIERS - muddy and potholed streets, nonexistent lighting, and coarse buildings, Semmar, east of Algiers, with the poor appearance of an inner-city. ...
The grant of the oil and sugar will cost 3 billion dinars to the treasury
Algiers- "The immediate response of the state to lower the prices of stocks of sugar and edible oils already in circuit has cost around 3 billion dinars (30 million euros) to the Treasury while the customs and tax exemptions, visible from mid-February, will generate for the state a shortfall of some 23 billion dinars (230 million euros) " according to the APS. ...
20% of flour used as animal feed
Algiers- according to investigations conducted by the staff of the National Gendarmerie, the Ministry of Commerce and the National Office of Cereals, 20% of the domestic production of wheat are used as animal feed, causing a crisis of bread. ...
Algeria chooses International business law firm to assess Djezzy
ALGIERS - The law firm Shearman and Sterling International Affairs LLP France has been chosen by Algeria to assess the mobile operator Djezzy, a subsidiary of the Egyptian Orascom, which wants to buy, announced on Monday Algerian Ministry of Finance. ...
Rebrab: sugar and cooking oil even more expensive
Algiers- the boss of CEVITAL, Isaâd Rebrab said that sugar prices will increase further on the international market, which will affect the domestic market. As for cooking oil, it will experience another increase this year due to soaring prices of crude oil, raw materials used for production of edible oil which recorded an increase of 70% over the last three months....
Implementation of the Anti-Corruption Commission
ALGIERS - The Commission for the prevention and fight against corruption in Algeria expected since 2006 and created by presidential decree in November, began to operate after the swearing in of its seven members, officials said Wednesday....
Government clears debts of large enterprises in difficulty
Algiers- Minister of Industry, SMEs and investment promotion, Mohamed Benmeradi, revealed the existence of a record under study, which will be presented to Prime Minister Ahmed Ouyahia, for the debt cancellation of large public companies....
Oil: 55.7 billion dollars of revenue in 2010
ALGIERS - Revenues from hydrocarbons (gas and oil) in Algeria reached $ 55.7 billion at the end of 2010, representing an increase of 25% over the previous year, announced Monday the Minister of Energy and Mines Youcef Yousfi....
Benmeradi: "Renault's new proposals seem interesting"
ALGIERS - The proposal by the French automaker Renault to build a plant in Algeria capable of producing 75,000 cars in four different models has been described as "acceptable" by the Algerian authorities....
The Algerian government promises to fight against corruption
ALGIERS - The Algerian government has promised to lead a struggle against corruption within the state oil company Sonatrach, "economic powerhouse of the country", after the successive scandals that shook it in 2010, reported Friday the press....
Nearly 4 billion euros for the upgrading of SMEs
ALGIERS - Algeria will spend 380 billion dinars (around € 4 billion) between 2011 and 2014 for the upgrading and modernization of some 20,000 small and medium enterprises (SMEs), said Saturday news agency APS....
Officials at banks and post behind the leak of counterfeit notes
Algiers- according to the Governor of the Bank of Algeria, Mohamed Laksassi, the phenomenon of counterfeited notes that grows these days is due to the lack of vigilance and control in banks and postal center, he does not rule out the involvement of certain officials of banks and postal centers....
About 57 billion dollars of hydrocarbons revenue in 2010
ALGIERS - Revenues from hydrocarbons (gas and oil) of Algeria are expected to reach nearly 57 billion dollars in 2010, according to forecasts of Sonatrach reported Wednesday by the Algerian news agency APS....
Algeria / Tunisia: signing of several cooperation agreements
ALGIERS - Algeria and Tunisia signed Sunday in Algiers a series of agreements and cooperation program during a visit by the Tunisian Prime Minister Mohamed Ghannouchi, said the Algerian news agency APS....
Tunisian Prime Minister in Algiers to strengthen cooperation
ALGIERS- The Tunisian Prime Minister Mohamed Ghanouchi began Sunday a two-day visit to Algeria to strengthen economic cooperation between the two countries, said the news agency APS....
Algeria trade surplus sharply up
ALGIERS- Algeria has recorded a trade surplus that rose sharply to 14.84 billion dollars during the first eleven months of the year, against only 4.68 billion during the same period in 2009 thanks to exports of hydrocarbons, Customs said Saturday....
Fishing: Algiers absent from a meeting in Paris due to visa problem
ALGIERS-The representatives of Algeria could not attend the Paris conference between bluefin tuna fishing nations in Paris in November because of a visa problem, said Wednesday the Algerian Minister of Fisheries Abdallah Khanafou....
Djezzy: Algiers claims 230 million USD of taxes to a subsidiary
Egyptian mobile group Orascom Telecom Holding (OTH) said it received an order from the Algerian authorities to pay 230 million dollars in back taxes for the years 2008-2009 for the benefit of its Algerian subsidiary....
First wind farm in Algeria attributed to CEGELEC
ALGIERS- The draft of the first wind farm planned in southern Algeria, Adrar, was awarded Monday to French consortium CEGELEC. ...
Japan wants to contribute to the economic development of Algeria
ALGIERS- Japanese Foreign Minister Seiji Maehara said his country wished to contribute to the economic development of Algeria, in an interview Monday with the Algerian daily Liberté....
Significant discount in cars prices until December 31
Algiers- car sales in Algeria registered a significant decline since the government's decision to impose taxes on vehicle prices in 2008 and the suspension of consumption loans, announced in the complementary Budget Act of 2009....
OPEC: production quotas unevenly respected
Members of the Organization of Petroleum Exporting Countries (OPEC), which should decide Saturday in Quito to maintain production at current levels, unevenly respect their quotas, according to data from the International Atomic Energy Agency (IEA)....
An international network of counterfeit dismantled Tebessa
ALGIERS - An international network specialized in the trafficking of counterfeit foreign banknotes and falsification of passports was dismantled in Tebessa, eastern Algerian town near the Tunisian border, said Thursday the Algerian National Gendarmerie....
Algeria will launch a 20-year renewable electricity program
ALGIERS - Algeria will launch a program of renewable energy development over the next 20 years, expected to increase its production of electricity from alternative sources such as solar or wind, said Monday in Algiers Minister of Energy....
1st Summit of the Forum of Gas Exporting Countries late 2011 in Doha
The Forum of Gas Exporting Countries (GECF) decided Thursday to hold its first summit in Qatar in November 2011 and reiterated its call for a fair price for natural gas. ...
Washington launched an economic partnership with the Maghreb
ALGIERS - The U.S. Assistant Secretary of State for Economy Jose Fernandez announced Wednesday in Algiers on an initiative of U.S. economic partnership with the Maghreb, the opening of a conference on entrepreneurship US- Maghreb. ...
Lists of farmers beneficiary of bank credits displayed in cafes
Algiers- bank branches of Agriculture Bank of Rural Development (BADR), spread across different provinces of the country have decided, in a move considered illegal by farmers, to display at the seats of the Town Halls and cafes, the lists of names of farmers excluded from the president's decision on debt relief for farmers and breeders. ...
Escape of a smuggler wanted by Interpol
A smuggler wanted by Interpol, managed to escape from a police station in Oran. The fugitive is wanted for money laundering. ...
USA-Maghreb Entrepreneurship, a 2-day conference in Algiers
ALGIERS, Algeria welcomed on Wednesday a conference focusing on partnerships between U.S. and North Africa to encourage entrepreneurship, seven months after a summit of Muslim entrepreneurs organized in Washington....
Algeria to intensify oil exploration
ALGIERS - Algeria will intensify exploration of oil and gas to increase its hydrocarbon reserves, the basis of its economy, and "guarantee the country's energy security in the very long term," said Sunday the Algerian Minister of Energy Youcef Yousfi. ...
Franco-German race for the Algerian car
Algiers- former French Prime Minister Jean Pierre Raffarin, has managed to convince the Algerian authorities on the proposal by the company "Renault" on the creation of a car assembly plant, which would be operational in early 2012....
Africa will fail to meet the Millennium Development Goals on water
Most African countries will fail to meet the millennium goals set by the UN in terms of access to water, warned Friday the United Nations Environment Program (UNEP). ...
The government rejected Djezzy’s application on debts review
Algiers- according to informed sources from the Ministry of Finance, the tax inspection service have rejected the request by Orascom Telecom Algeria (OTA) "Djezzy on a review of taxes imposed on its activities for the years 2008 and 2009, estimated at $230 million. ...
Algeria is still struggling to revive its industrial disaster
ALGIERS - Boosted by the dividends of the oil that were heavily invested in infrastructure, Algeria has forgotten to develop its industry to an alarming point that this key sector of development is now reduced to less than 5% of GDP. ...
Sonatrach and Gazprom have discovered hydrocarbon reserves
The Algerian state energy company Sonatrach and the Russian giant Gazprom announced Saturday they had uncovered hydrocarbon reserves in the Berkine Basin in Algeria, the first discovery for Gazprom in North Africa. ...
Fight against terrorism: Increased cooperation between London and Algiers
ALGIERS - The UK and Algeria will increase cooperation in security matters by the creation of a bilateral committee of counterterrorism, said in Algiers, a senior British Foreign official Alistair Burt. ...
