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Al Baraka Banking Group Maintains Aggressive Growth Strategy in North Africa despite Uprisings

The year 2010 was not bad at all for Al Baraka Banking Group (ABG). Involved in international Islamic banking, the company is a Bahrain Joint Stock Company listed on Bahrain Bourse and NASDAQ Dubai. It maintains Standard and Poors long term and short-term credit ratings of BBB- stable and A3 respectively. ABG offers retail, corporate and investment banking and treasury services in accordance with the principles of the Islamic Sharia law. The authorized capital of ABG is US$1.5 billion, while total equity amounts to about US$1.8 billion.
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Orascom vs. Algeria

[The North Africa Journal] In a lingering conflict that underscores lack of transparency and weak business rules, the case of Orascom Telecom Algerie (OTA), which has raised a great deal of concerns in foreign investor circles, has not been settled yet. It underscores that the rules of engagement when doing business in Algeria are still unclear and that many leaders of foreign companies remain dangerously ignorant of operating conditions and the business environement in the North Africa country. ...
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Business as Usual for Corporate Morocco

There is noticeable decrease in tourism activity across North Africa and Morocco is witnessing a small impact there. Yet, for the broad economy, the Arab revolutions have not fully afftected Morocco. This is largely due to the fact that Morocco is focused on its own economic growth, while remaining solidly tied to the EU. With limited economic relations with the affected countries, it is no surprise that it's business as usual for many Moroccan firms. Below are some reports that analyze the performance of key companies, ending with a full review of the Casablanca Stock Exchange....
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Setback for a Pan-Maghreb TV Channel: Nessma TV Likely to Fold

The owners of Nessma TV are facing the nightmare scenario, challenging their belief that North Africa’s Maghreb region needed a common broadcast platform. Largely owned by Tunisian businessman Tarek Ben Ammar, Nessma TV is finding hard to operate in the region. ...
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HSBC in North Africa: Going Where the Money Is

In summer 2008, London-based HSBC, one of the world’s largest banking and financial services institutions decided to add Algeria to its list of emerging markets operations. Libya is likely next in line. The decision meant that as of August 2008, the giant bank entered the Algerian market where it launched what it called “a full-service bank.” But is it really a full-service bank with the goal of contributing to economic growth and development or is HSBC focused on international trade operations to enable the flow of money in and out of the country? ...
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HP to Expand in Libyan Market

On November 4th, 2009, US tech giant HP announced its plan to establish new sales and support subsidiaries in Angola and Libya by 2010. By doing so, HP will increase its footprint across Africa to nine subsidiaries (Algeria, Angola, Egypt, Kenya, Libya, Morocco, Nigeria, South Africa, and Tunisia)....
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Mediterranean School of Business Launches Executive Business Seminar in Tripoli, Libya

Tunis-based Mediterranean School of Business is offering a set of seminars this summer targeted to Libyan managers. MSB, in collaboration with the BT Server Business Management Training Center, is launching four modules, starting with Organization and Change Management, Financial Analysis for Non Financial Managers, Innovation and technology Management, and ending with Marketing and Customer Relationship. Each module will be lectured over a 3 to 4-day session. ...
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Royal Air Maroc Seeks to Divest from Senegal Airline

Moroccan airline carrier Royal Air Maroc (RAM) is looking to divest from Air Senegal International....
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Microsoft’s Close Watch of North Africa: Lobbying for IT Upgrades and Strong Anti Piracy Enforcement

The North Africa Journal : With shrinking computer sales, the engine of Microsoft revenue with operating system sales, every penny counts no matter where it comes from. ...
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BCP Bank and OCP Increase Capital, Swap Shares

The Moroccan phosphate and fertilizer giant relinquished 5.88% of its capital to Banque Centrale Populaire (BCP), in exchange for a 6.62% equity participation in that bank. ...
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Al Baraka Banking Group Maintains Aggressive Growth Strategy in North Africa despite Uprisings

The year 2010 was not bad at all for Al Baraka Banking Group (ABG). Involved in international Islamic banking, the company is a Bahrain Joint Stock Company listed on Bahrain Bourse and NASDAQ Dubai. It maintains Standard and Poors long term and short-term credit ratings of BBB- stable and A3 respectively. ABG offers retail, corporate and investment banking and treasury services in accordance with the principles of the Islamic Sharia law. The authorized capital of ABG is US$1.5 billion, while total equity amounts to about US$1.8 billion.
image

Orascom vs. Algeria

[The North Africa Journal] In a lingering conflict that underscores lack of transparency and weak business rules, the case of Orascom Telecom Algerie (OTA), which has raised a great deal of concerns in foreign investor circles, has not been settled yet. It underscores that the rules of engagement when doing business in Algeria are still unclear and that many leaders of foreign companies remain dangerously ignorant of operating conditions and the business environement in the North Africa country.
image

Business as Usual for Corporate Morocco

There is noticeable decrease in tourism activity across North Africa and Morocco is witnessing a small impact there. Yet, for the broad economy, the Arab revolutions have not fully afftected Morocco. This is largely due to the fact that Morocco is focused on its own economic growth, while remaining solidly tied to the EU. With limited economic relations with the affected countries, it is no surprise that it's business as usual for many Moroccan firms. Below are some reports that analyze the performance of key companies, ending with a full review of the Casablanca Stock Exchange.
image

Setback for a Pan-Maghreb TV Channel: Nessma TV Likely to Fold

The owners of Nessma TV are facing the nightmare scenario, challenging their belief that North Africa’s Maghreb region needed a common broadcast platform. Largely owned by Tunisian businessman Tarek Ben Ammar, Nessma TV is finding hard to operate in the region.
image

HSBC in North Africa: Going Where the Money Is

In summer 2008, London-based HSBC, one of the world’s largest banking and financial services institutions decided to add Algeria to its list of emerging markets operations. Libya is likely next in line. The decision meant that as of August 2008, the giant bank entered the Algerian market where it launched what it called “a full-service bank.” But is it really a full-service bank with the goal of contributing to economic growth and development or is HSBC focused on international trade operations to enable the flow of money in and out of the country?
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HP to Expand in Libyan Market

On November 4th, 2009, US tech giant HP announced its plan to establish new sales and support subsidiaries in Angola and Libya by 2010. By doing so, HP will increase its footprint across Africa to nine subsidiaries (Algeria, Angola, Egypt, Kenya, Libya, Morocco, Nigeria, South Africa, and Tunisia).
image

Mediterranean School of Business Launches Executive Business Seminar in Tripoli, Libya

Tunis-based Mediterranean School of Business is offering a set of seminars this summer targeted to Libyan managers. MSB, in collaboration with the BT Server Business Management Training Center, is launching four modules, starting with Organization and Change Management, Financial Analysis for Non Financial Managers, Innovation and technology Management, and ending with Marketing and Customer Relationship. Each module will be lectured over a 3 to 4-day session.
image

Royal Air Maroc Seeks to Divest from Senegal Airline

Moroccan airline carrier Royal Air Maroc (RAM) is looking to divest from Air Senegal International.
image

Microsoft’s Close Watch of North Africa: Lobbying for IT Upgrades and Strong Anti Piracy Enforcement

The North Africa Journal : With shrinking computer sales, the engine of Microsoft revenue with operating system sales, every penny counts no matter where it comes from.
image

BCP Bank and OCP Increase Capital, Swap Shares

The Moroccan phosphate and fertilizer giant relinquished 5.88% of its capital to Banque Centrale Populaire (BCP), in exchange for a 6.62% equity participation in that bank.
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Leila Hanafi

Leila Hanafi is a legal expert who brings fresh insight on law and judicial issues to The North Africa Journal. Based in Washington DC and with a dual Moroccan-American citizenship, Ms. Hanafi is also Staff Attorney and Programs Manager at the World Justice Project. Prior, Ms. Hanafi held various legal positions at the World Bank, including in the areas of operations, finance, and legal and judicial reforms. Ms. Hanafi serves on the board of numerous nonprofit organizations related to the areas of international law and development, with a focus on North Africa. Ms. Hanafi has published several academic papers and articles, contributed to a few published works on legal systems of North Africa, and have been profiled in several national and international media outlets for her work. Ms. Hanafi is an Honors graduate from American University and Georgetown University in Washington DC, and she is currently pursuing her doctoral studies in International Law. She can be reached at hanafi@north-africa.com
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