Finance & economy

July 28, 2016

1

ANAM awards 9 mining claims worth DZD246 million

The National Agency of Mining Activities (ANAM) on Wednesday has awarded nine mining claims worth DZD246 million out of 24 mining sites put up for tender.


The claims were awarded during a public bid opening session, held in presence of the bidding companies, following the 44th invitation to tender for small and medium-sized mines.


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July 28, 2016

2

Agrifoodstuffs show downward trend in first four months

Most agricultural and agrifood products import prices dropped over the first four months of 2016, compared with the same period in 2015, a source from the ministry of Trade told APS.


Cereal import prices recorded a drop reaching 28.2% to USD343 per tonne with regard to hard wheat, compared with the same period in 2015, while soft wheat prices fell to USD200/t (-22.5%)"...

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July 28, 2016

3

Azizi Developments Pre-Launches $80million Montrell Serviced Apartments

Azizi Developments, a leading UAE-based real estate developer with a global reach into many growing international markets, has today announced the pre-launch of its 222-unit Montrell Serviced Apartments project.

When complete, the G+P2+7 furnished serviced apartment building will offer a total of 168 fully furnished luxury studios and 54 one-bedroom units. The total cost of the development is said to be in the region of USD 80 million dollars.

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July 28, 2016

4

Bouchouareb, WB representative broach economic reforms

Minister of Industry and Mines Abdessalem Bouchouareb received Wednesday the new resident representative of the World Bank (WB) in Algeria, Demba Ba, with whom he tackled the economic reforms to improve business climate and develop investment in the country.


The discussions focused on relations of the ministry of Industry and Mines with the World Bank, especially"...

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July 28, 2016

5

MENA banking culture stunting growth

The financial banking sectors in the Middle East and North Africa (Mena) regions are disconnected from a majority of firms, with credit being largely channeled to a small number of large firms and hindering potential growth in the region, a new report has highlighted.


The What’s holding back the private sector in Mena? report published jointly by the World Bank (WB),"...

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July 27, 2016

6

Sheikh Zayed Air Navigation Centre opens the 11th ATC sector - Yankee

The GCAA Sheikh Zayed Air Navigation Centre in Abu Dhabi is one of the busiest air traffic control centers in the world offering unique challenges for air traffic controllers due to air traffic volume, airspace complexity and major air carrier hubs being located within the United Arab Emirates. The UAE controls approximately 124,000 square km of airspace and hosts more than 42 international airways. The Sheikh Zayed Air Navigation Centre is the busiest and most advanced air traffic control facility in the Middle East and"...

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July 27, 2016

7

A.M. Best’s 2016 Middle East and North Africa Insurance Market Briefing—to Take Place 5 October in Dubai

(ME NewsWire)-- A.M. Best will host its Middle East and North Africa (MENA) regional Insurance Market Briefing on Wednesday, 5 October, from 1:30 p.m. to 6:00 p.m. (GST), at the Shangri La Hotel in Dubai. The event will feature senior executives discussing the impact of current market conditions, perspectives on the global reinsurance market and A.M. Best’s rating trends for (re)insurers in key segments of the MENA (re)insurance sector.

Programme"...

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July 27, 2016

8

New economic growth model: Revising budget policy, encouraging investment

The new economic growth model, debated and adopted by the Council of Ministers on Tuesday, is based on a revised budget policy with the improvement of ordinary taxation and the mobilization of additional financial resources, while encouraging high added-value investment.


The new model, according to the communiqué issued at the end of the Council of Ministers'"...

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July 27, 2016

9

Bill on SMEs: Support to small and medium-sized companies, investments

Council of Ministers adopted Tuesday a draft bill providing support to small and medium-sized companies (SMEs) and to investments in researches, innovation and sub-contracting.


The bill encourages the creation of SME professional associations and groups, which will favour development of synergies among the different branches.


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July 27, 2016

10

Huawei Optimistic About Meeting Its Target for Smartphone Shipments

The head of consumer products for Chinese telecommunications giant Huawei Technologies Co. said on Tuesday that he was confident the company would reach its target to ship 140 million smartphones in 2016, a 30% increase from last year.


Speaking at a news conference, Huawei Consumer Business Group Chief Executive Richard Yu said his division was aiming to book $28 billion"...

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