May 29, 2016


African Development Bank: Baba Ammi calls for competitive funding

Deputy Minister for Budget and Forecasting Hadji Baba Ammi called, in Zambia's Lusaka, for competitive funding to achieve the strategy of the African Development Bank (AfDB) in Africa, said Saturday the Ministry of Finance in a statement.

In his address at the 51st Annual Meetings of AfDB Board of Governors, held in the Zambian capital from 23 to 27 May, Baba Ammi said"...

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May 24, 2016


4.8% annual inflation rate in April 2016

ALGIERS- The year-on year inflation rate reached 4.8% in April 2016, a slight rise compared to that of last March, which was 4.7%, the National Statistics Office (ONS) told APS.

The year-on year inflation rate of April 2016 represents the growth rate of the consumer price index on a period going from May 2015 to April 2016, compared to the period going from May 2014 to April 2015.


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May 23, 2016


EFG Hermes: Beyond the horizon

Egyptian born and raised, educated in the US, and with a career that includes a decade working in London for global asset managers, the Dubai-based head of asset management at EFG Hermes, Amr Seif, certainly has plenty of international experience.

Seif explains that the asset management offices of EFG Hermes"...

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May 22, 2016


Zimbabwe calls on AfDB for economic assistance

A high level delegation from Zimbabwe led by the country’s finance minister and Economic Development Minister, patrick Chinamasa recently met with the African Development Bank Group President, Akinwumi Adesina.

The Delegation comprised among others, the Governor of the Reserve Bank of Zimbabwe, John P. Mangudya, and other officials from the Ministry of Finance and Reserve Bank.


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May 21, 2016


Algeria to restructure economy as oil revenues decline - IMF

The International Monetary Fund (IMF) has called on Algeria to undertake fiscal consolidation and initiate some reforms in order to adequately respond to the magnitude and persistence of the oil price shock and address long standing vulnerabilities.

Algeria’s economy is facing a severe and likely long-lasting external shock, calling for a vigorous policy response built on fiscal consolidation and structural reforms.


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May 16, 2016


Benkhalfa in Jakarta to partake in IDB assembly

Finance Minister Abderrahmane Benkhalfa will partake Monday in Jakarta (Indonesia) in the 41st session of the Council of the Islamic Development Banks' governors (IDB), the Finance ministry announced in a communiqué.

As part of this 41st session to be held on 17-19 May, the minister will participate in the yearly assemblies of Islamic Development Bank's subsidiaries,"...

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May 15, 2016


BPCE implements new core banking system in Vietnam, Sopra Banking Amplitude

Vietnam-based subsidiary of France’s major financial group, BPCE, is implementing a new core banking system, Sopra Banking Amplitude. The new solution will cover front-to-back office operations of the bank, including digital banking functionality.

The system is supplied by Sopra Banking Software.

The project follows the reorganisation of BPCE’s operations in Vietnam,"...

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May 11, 2016


Bank to finance small, medium-sized enterprises

Director General of small and medium-sized enterprises (SMEs) at the Ministry of Industry and Mining Abdelghani Mebarek announced Tuesday, in Algiers, the establishment of a bank which will exclusively be responsible for the financing of small and medium-sized enterprises projects.

There is currently a national network of public and private banks as well as a number"...

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May 10, 2016


Emerging Markets Are Innovation Crucibles

The challenging, unpredictable, and often cutthroat competition in emerging markets is literally a world away from the cushy workspaces many companies look to for entrepreneurial thinking, but VimpelCom — one of the top 10 largest mobile network operators — sees its presence in some of the planet’s most dynamic markets as the places to spur innovation.


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May 9, 2016


The Nilson Report Releases the Global Cards Report 2015

Global general purpose cards carrying Visa, UnionPay, MasterCard, JCB, Diners Club/Discover, and American Express brands generated 227.08 billion purchase transactions at merchants in 2015, an increase of 16.1% over 2014, according to The Nilson Report, the top trade newsletter covering the card and mobile"...

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