Finance & economy

July 25, 2017


Philip Morris International to Convert Cigarette Factory in Romania into Smoke-Free Product Facility

  • Another step towards a smoke-free future
  • €490 million planned investment.
  • 300 new jobs to be created

(ME NewsWire)-- Philip Morris International Inc. (PMI) (NYSE/Euronext Paris: PM) is planning to invest approximately €490 million to transform its cigarette production factory in Otopeni, near Bucharest, Romania into a high-tech facility to manufacture HEETS, the tobacco units used with the electronic tobacco heating device IQOS.


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July 24, 2017


Average annual inflation rate at 6.5% until June 2017

The evolution of the average annual rate of consumer prices stood at 6.5% until late June 2017, the National Statistics Office told APS.

Food prices rose moderately by 0.2% in June compared with May 2017, due, in particular, to higher prices for fresh agricultural products (+0 , 25%) and industrial food products (+ 0.23%), the agency said.


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July 24, 2017


OPEC-non OPEC follow-up meeting: Adjustments for a better stabilizing of markets

The prospects for OPEC -non-OPEC agreement on the reduction of oil production are expected to be examined, on Monday in Saint Petersburg (Russia), by representatives of the signatory countries, with a view to possible readjustments in a global oil market under pressure, Radio Algerie reported on Sunday.

This task has been entrusted to the Joint Ministerial Committee"...

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July 24, 2017


Algerian Engineer Launches First Website for Female Job Seekers in Saudi Arabia

An Algerian biomedical engineer is on a mission to make it easier for women to find work in Saudi Arabia by creating the first job-searching website for females in the Kingdom.

Australian-born Naziha Deriche, 23, who was raised in Saudi Arabia, realized after completing her postgraduate studies in Sydney last year that it was hard for her and her friends to find jobs in Saudi Arabia.

Most of the jobs advertised are ... for males in"...

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July 24, 2017


Mavenir Announces R & D Center of Excellence Focused on 5G Network and Services 

(ME NewsWire)-- Mavenir, the leader in accelerating and redefining network transformation for Service Providers, today announced a new R&D and 5G Innovation centre of excellence in Ra'anana, Israel focused on 5G Network and Services solutions.

The next generation of the network infrastructure will be based on a common flexible infrastructure that supports applications with stringent quality of experience"...

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July 23, 2017


Ghardaïa: 2,810 hectares devoted to forage crop to support milk production

An agricultural area of ​​2,810 hectares, irrigated under pivots, was devoted to different forage crops to support the development of the milk sector in the province of Ghardaïa, said, Saturday, the director of agricultural services (DSA), APS reported.

Alfalfa is the dominant forage crop with an area of ​​1,175 ha, or more than 41,81% of the total forage"...

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July 23, 2017


Jack Ma Announces $1.65m Chinese Conservation Program in Africa

Chinese business magnate Jack Ma announced a 10-year wildlife conservation program in Africa by China-based nonprofit organization, the Paradise International Foundation during his maiden trip to the continent.

The owner of online retail giant Alibaba Group was in Kenya and Rwanda on a two-day trip in his capacity as Special Adviser for Youth Entrepreneurship and Small Business for the United Nations Conference on Trade and Development (UNCTAD).


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July 23, 2017


Business confidence falls across the Middle East with further decline in sentiment expected

Business confidence across the Middle East has fallen sharply in the last quarter and is now at its lowest level since the second quarter of 2016, according to the latest edition of the Global Economic Conditions Survey (GECS).

The region is also likely to face further challenges over the coming year, according to the quarterly survey of global CFOs and finance professionals, conducted by ACCA"...

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July 23, 2017


QNB Group Commences Operations in India

QNB Group, the largest financial institution in the Middle East and Africa, has recently commenced operations in the city of Mumbai, the economic capital of the Republic of India.

The start of the Group’s operations in the Republic of India comes in support of its vision to become a leading bank in the Middle East, Africa, and Southeast Asia by 2020, in addition to establishing"...

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July 22, 2017


Algeria-EU: Projects worth over €200 million to diversify economy

About twenty projects worth more than €200 million were jointly identified by Algeria and the European Union (EU) to support the diversification of the national economy, some of which have already been carried out, said Thursday, in Algiers, Commissioner for European Neighbourhood Policy and Enlargement Negotiations Johannes Hahn, APS reported.

“The EU will continue to support Algeria in its efforts exerted to diversify its economy and"...

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