Finance & economy

November 21, 2019


Loukal highlights importance of amending organic law on finance acts

ALGIERS-Minister of Finance, Mohamed Loukal on Monday highlighted the need to amend the provisions of Article 18 of the organic law on finance acts in order to allow the hydrocarbon sector to propose and legislate in tax matters.

At the presentation of the draft organic law amending and supplementing the Organic Law 18-15 of 2 December 2018 on the Finance Laws before the Committee on Economic and Financial Affairs of the Council of the Nation, in"...

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November 20, 2019


South Africa's Eskom CEO appointment met with scepticism

After months of speculation and delays, South Africa named Andre de Ruyter as chief executive officer of its debt-crippled state power utility, surprising investors with an unexpected choice and angering a key union.

Mr De Ruyter, 51, has considerable corporate experience in the country, though not at state-owned companies. His appointment comes at a time when Eskom is undergoing a transformation that will require technical and financial knowledge"...

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November 19, 2019


Sierra Leone, IFAD to strengthen partnerships, agricultural value chains and rural financing

The Independent Office of Evaluation of the International Fund for Agricultural Development (IFAD) and the Government of Sierra Leone will hold a workshop on Wednesday 27 November 2019, in Freetown to share the findings of the independent evaluation of IFAD’s country strategy and programme for Sierra Leone.

The workshop will present the evaluation’s main conclusions and recommendations, based on the past 17 years of IFAD’s work"...

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November 19, 2019


Global blockchain spend in agriculture reaches $524 million

Blockchain spend in agriculture industry across globe has increased at 129.3% during 2018 to reach $ 258 million according to a study by Research and Markets dubbed The 'Global Blockchain in Agriculture Industry Databook Series (2016-2025) - Blockchain Spending in 15 Countries with 12+ KPIs, Market Size and Forecast Across 5+ Application Segments, Type of Blockchain, and Technology (Applications, Services, Hardware.

Between 2019 and 2025, spend"...

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November 19, 2019


Half a million Algerian workers jobless following corruption investigations

Half a million Algerian workers have lost their jobs, as several companies, which were subjected to corruption investigations for months, shut down their activities. The inquiries included companies owned by businessmen, known for their closeness to former President Abdelaziz Bouteflika, and who ended up being arrested. Among the detainees was the former chairman of the Forum of Heads of Institutions, Ali Haddad.

On Monday, Sami Akli, chairman of"...

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November 19, 2019


The Estée Lauder Companies to Acquire Dr. Jart+

The Estée Lauder Companies Inc. (NYSE: EL) announced today that it has signed an agreement to acquire the shares that it does not already beneficially own in Have & Be Co. Ltd., the Seoul-based, global skin care company behind Dr. Jart+ and men’s grooming brand Do The Right Thing. Expected to close in December 2019, the acquisition follows the Company’s December 2015 minority investment in Have & Be Co. Ltd. and is pursuant to an agreement made at that time. As one of the fastest growing skin care"...

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November 19, 2019


IDEMIA Launches the Very First Metal Card in Belgium, With Nagelmackers Bank

IDEMIA supplies the very first metal payment card in Belgium, which was launched mid-November for Nagelmackers Bank's Elite and Prestige customers. With this new payment card, Nagelmackers seeks to give its Elite and Prestige customers a top-of-the-range free service.

The metal card market is booming and is becoming increasingly popular among wealthy clients. According to a recent worldwide poll1, metal cards are the card of choice for 75% of"...

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November 18, 2019


Adia hosts global investors and sovereign funds to make investments in Africa

Abu Dhabi Investment Authority (Adia), the sovereign wealth fund of the emirate, opens a two-day investment conference in the UAE capital today. The event brings global long-term investors and African sovereign funds together to explore the investment potential of Africa.

The Africa Investment Summit (AIS), through a series of presentations and workshops, casts light on ways long-term asset owners can access investment opportunities in the continent,"...

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November 18, 2019


Nigeria to Spend $1.6bn on Two Seaports in Niger Delta Region

Two new seaports costing $1.6bn are to be developed by the Federal Government in the South-South as part of efforts to decongest the Lagos ports, the Minister of Transportation, Rotimi Amaechi, has said.

He said the two ports would be built in the Pessu area of Warri, Delta State, and Bonny in Rivers State, adding that each of the port would cost $800m.

The minister stated"...

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November 18, 2019


SAP invests in South African youth through its Skills for Africa Initiative

SAP has announced the launch of its first Dual Study Program on South African soil. In partnership with leading universities, the SAP Dual Study Program provides university students with training and certifications linked to SAP’s latest innovations that align to the company’s Intelligent Enterprise model.

The Dual Study Program runs in 12 countries globally at 23 partnering universities and is offered under the SAP Skills for Africa"...

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