Economy
GECF: Agreement on the revision of gas price
Algiers- After long negotiations among the 11 members of the Gas Exporting Countries Forum (GECF), Oran summit agreed unanimously Monday to index gas price to the oil price.
Predictions of global gas demand, cause of concern
Oran (Algeria) - The global gas demand forecasts are "cause for concern," Energy and Mines Minister Chakib Khelil Said Monday in Oran (432-km west of Algiers). ...
Air France says losing 35 million euros per day because of the cloud
ROISSY AIRPORT - Air France lost 35 million euros per day because of the ash cloud which currently disrupts European air traffic, said Monday its CEO Pierre-Henri Gourgeon. ...
Paris stock exchange: Air France-KLM and ADP lose around 5%
PARIS – The French airline company Air France-KLM and the manager of ADP Paris airports lost about 5% Monday morning at the Paris stock exchange, affected by the paralysis of air transport because of the cloud of volcanic ash from Iceland. ...
Chakib Khelil advocates a reassessment of gas prices
ORAN (Algeria)- Energy and Mining Minister Chakib Khelil, has, once again, recommended Saturday to index gas price to the oil current prices. ...
A Moroccan bank awaiting approval from Algeria
CASABLANCA (Morocco) - The Attijariwafa Bank, a leader in the markets of Morocco and West Africa, said Thursday it is still awaiting approval of Algerian monetary authorities to business in that country. ...
Western Mediterranean: the cohesion of the Maghreb is essential
TUNIS - Tunisia said Thursday that the Maghreb integration is essential for the establishment of a "development solidarity" in the Mediterranean, at a meeting of foreign ministers of ten countries along the "5 +5 Forum. ...
Algeria: 30% increase in oil revenues in the first quarter 2010
ALGIERS- Algeria's oil revenues totaled $ 14 billion during the first quarter of 2010, an increase of over 30% over the same period of 2009. ...
Qatar skeptical about a reduction in gas supply
DOHA - The Minister of Energy of Qatar, Abdullah bin Hamad al-Attiya expressed skepticism Monday to a reduced gas supply to support prices, defended by Algeria. ...
Algeria and Syria sign 25 cooperation agreements
ALGIERS- Algeria and Syria signed on Monday in Algiers many cooperation agreements and memoranda after a meeting of the High Joint Committee for cooperation between Algeria and Syria. ...
Orascom Telecom said having paid debt to the Algerian Treasury
The Egyptian giant Orascom Telecom said Monday it had finished paying a bill of nearly $ 600 million in tax arrears to the Algerian Treasury notified last November, except for a remaining penalties. ...
Two new discoveries of oil in the Algerian Sahara
ALGIERS - Algerian Sonatrach oil company announced Sunday two new discoveries of oil in the Illizi basin in the south-eastern Sahara. ...
Power Assist Suit for Japanese farmers
TOKYO - A motorized armature amplifying muscle strength is rather the trappings of the super heroes than that of the farmer. Yet such a futuristic array will soon be sold to Japanese farmers to ease the tasks that their age makes difficult. ...
Tax department rejects Orascom Telecom’s appeal
Algiers- According to official sources at the Ministry of Finance, the action brought by Orascom Telecom Algeria "Djezzy" has been rejected by the Central Appeals Committee, met yesterday at the Ministry. ...
Cairo incidents: parties to be heard April 15
FIFA will hear again both parties, Algerian and Egyptian on 15 April on the incidents of Cairo that took place on November 14, last year...
New scandal at Sonatrach
Five executives held into custody, including a director of general administration and a chief financial and contracts service. A branch of the oil swells bills for hardware purchased from a fictitious company in Oran. ...
Portuguese Prime Minister in North Africa to discuss energy
LISBON - Portuguese Prime Minister Jose Socrates will begin a visit on Sunday to Libya, Algeria, Tunisia and Morocco to participate in several high level meetings and sign agreements in the field of energy....
OPEC agrees on maintaining its quotas
VIENNA - OPEC members have agreed to leave production quotas cartel "as" at its ministerial meeting which began in Vienna on Wednesday said Saudi Oil Minister Ali Al-Nuaimi. ...
Algeria / ArcelorMittal: misconduct on Social Funds, 7 convictions
ALGIERS - Seven members of the body of social work in the steel unit of ArcelorMittal Annaba (East of Algeria), were convicted Tuesday and sentenced to 18 months suspended sentence to four years in prison for various embezzlement, said a court in El Hadjar....
OPEC might consider an increase of production in September
VIENNA - The Organization of Petroleum Exporting Countries (OPEC) could increase its production quotas at its ministerial meeting in September with a "50-50 probability" said on Tuesday the Algerian Minister of Petroleum and Mines Chakib Khelil....
Algeria: fishing of bluefin tuna in 2010 prohibited to foreigners
ALGIERS - Algeria has decided to exclude "foreign operators" of the next fishing season for bluefin tuna in waters under its jurisdiction in favor of nationals, said Sunday the Algerian APS agency, quoting the Ministry of Fisheries. ...
Algeria interested in continuing its gas exports to Turkey
ALGIERS - Algeria wants to continue its gas exports to Turkey after 2014, date of expiry of current contract between the Algerian state company Sonatrach and the Turkish company Botas said on Wednesday the Algerian Minister of Energy and Mines Chakib Khelil....
Austrian banks have laundered 2 billion euros of Mafia
VIENNA - Austrian banks have helped from 2005 to 2007 the laundering of some two billion euros on behalf of the Italian Mafia, reported Sunday the weekly Austrian weekly Profil....
100% increase in car insurance cost
Algiers- The President of CAAR, an insurance company, and the CEO of the National Insurance Company SAA, Amara El Atrous, declare that insurers have asked the Algerian government to double the price of the compulsory insurance of vehicles, which represents over 80 % of the insurance market in Algeria. Amara El Atrous adds that car insurance costs insurance companies large losses every year. ...
Meat at 400 DA/kg from next April
Algiers- The price of red meat will sharply drop next April under an agreement to be signed by a group of importers of this product with their Sudanese counterparts in the coming weeks. This agreement will contribute to stable prices throughout the year and put an end to the disturbances experienced by this vital food, especially during religious events. ...
Algeria and Oman to enhance bilateral cooperation
Muscat (Oman)- The fifth session of the Algerian-Omani Joint Committee, co-chaired by Foreign Minister Mourad Medelci and his Omani counterpart Yusuf Bin Alawi Bin Abdullah, has wrapped Wednesday. ...
Bouteflika firmly determined to protect national economy
Algiers- President of the Republic Abdelaziz Bouteflika on Tuesday underlined the State's determination to "protect the national economy from parasitic practices and fraud." ...
A nephew of former Foreign Minister wasted $ 2 billion of Sonatrach
Algiers- According to various sources of Ennahar, the national oil company "Sonatrach" temporarily lost the $ 2 billion deposited in "Errayane" Bank, a Dubai branch. The money was deposited by the company at the time when Farchid Bendjaoul, an Algerian national was Director of Administration of the bank....
Rachid Benaïssa en Egypte
Le Caire- Les ministres arabes de l'Agricultures et leurs homologues africains examinent, mardi à Charm El-Cheikh (Egypte), la coopération, le développement de l'agriculture et la sécurité alimentaire. ...
Construction of 50 markets of fruit and vegetables and 30 laboratories
Mascara (Algeria)- Commerce Ministry allocated a budget worth 47 billion dinars for the cosntruction of some 50 fruit and vegetables markets and 30 experiments and quality control laboratories, ...
The African Development Bank opens office in Algiers
ALGIERS - The African Development Bank (ADB) opened an office in Algiers, which is now operational," said Sunday Assitan Diarra-Thioune, resident representative of this institution in Algeria, during a meeting with the press. ...
Algeria and Poland want to develop a partnership in energy
ALGIERS - Algeria and Poland Saturday discussed the possibilities of developing a partnership in the energy sector, during the visit to Algiers by the Deputy Prime Minister and Polish Minister of Economy Waldemar Pawlak, reported the Algerian APS agency. ...
Algeria: protection of water ressources in the South
Adrar (Algeria)- Water Resources Minister Abdelmalek Sellal insisted Thursday in Adrar on the necessity to preserve water resources in the country's south. ...
Freezing of funds of the Italian company SAIPEM
Algiers- The amount of contracts won by the Italian company SAIPEM exceeds 6 million Euros and this in just six months during the year 2008. ...
Toyota: 488 defective vehicles in Algeria
Algiers- "Toyota dealership in Algeria has imported 488 vehicles affected by the defects disclosed by the Japanese automaker," the Trade Ministry's Economic Control and Fraud Squad announced on Monday...
Housing: loans of 700 and 400 million dinars
Algiers- The government has set the terms and conditions for granting loans, to officials, by the public treasury, for the acquisition or extension of a dwelling. ...
Exclusion of 20.000 false farmers from debt cancellation
Algiers- according to the latest information available from the National Farmers Union, it has been proceeded to the exclusion of not less than 20,000 farmers for lack of farmer’s card, from the decision of President Abdelaziz Bouteflika made at the national conference on agriculture held in Biskra February 28, 2009, regarding the cancellation of debts of farmers estimated at 41 billion dinars. ...
Sugar at 100 dinars, and rise in soft drinks Price
Algiers- The price of sugar increased to 100 dinars per kilogram. This is first increase of this kind which touches a vital product for Algerian families. ...
Interest free Home loan for civil servants
Algiers- The new measure of the Finance Act 2009, on the home loan at 1% interest, will come into force in the coming days. The credit will be granted to any citizen wishing to buy a home, all forms together, submitted by the public authorities. ...
