Business
Why Desertec Could Succeed
There is no doubt that the development of Desertec will be a challenge for its architects, promoters and supporters. Technical difficulties will add to financing and regulatory issues never anticipated before, further magnified by cultural differences that exist between countries involved in this giant project. But despite all the difficulties of the world, the project must succeed and there is plenty of evidence and good reasons why I think it will.
[Economy and Trade] Not a Bad Year for Some After All
Moroccan companies have released their results for fiscal 2009 and while most faced a challenging environment, a few managed to do very well. These reports look at five leading companies that are publically traded and review their 2009 financial performance....[Corporate Affairs] 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? ...[Economy and Trade] Signs of Economic Recovery in Morocco
The Moroccan economy is showing some positive momentum after a difficult time reacting to global economic crisis. With demand from European consumers picking up, Morocco is beginning to tally some good news. Although there is some temptation to credit European consumers for this start of recovery, the biggest positive impact has no doubt been the excellent weather conditions that have had strong positive repercussion on farming. ...[Economy and Trade] Where to Invest in the Moroccan Economy
Although 2009 was a difficult year for those looking to place their money in Moroccan general investment and in equities in particular, 2010 may not bring immediate relief either, but opportunities could be up for grabs....[Energy and Mining] A Nuclear North Africa
Oil and gas remain critical sources of power and energy for North African nations. In the medium term, hydrocarbons will remain the predominant sources of energy, whether it is for the OPEC countries of Algeria and Libya or the less-oil-endowed nations of Tunisia and Morocco. But in the longer term, the nuclear option appears interesting to all as oil reserves are depleted and securing new sources of energy is a strategic priority. ...[Industries and Markets] Top 10 Predictions for the North African Wireless and Telecom Markets in 2010
The telecommunications and wireless sectors have been bright spots in North African economies and likely to continue to grow. The success of these sectors comes from a wide consumer adoption first of basic mobile phone services, in particular voice, at very affordable prices, then expanding into new services from SMS texting to ring tones. In this paper, Julien Blin, the North Africa Journal’s technology editor and CEO of JBB Research predicts what is to come in Africa’s wireless and telecom markets this year. (copyright JBB Research: http://www.jbbresearch.com)...[Economy and Trade] A Different North Africa on the Horizon, but Political Troubles Looming
Fast forward 10, 15 or 20 years from now and you will see a vastly different North Africa. While big media outlets are focused on the giant economies of China, Brazil, and others, mid-level economies like those of North Africa are also a place of substantial economic activity. Domestic investments, sometimes aided by the contribution of foreign investors, are fueling economic development and growth. Despite the global economic hiccup, the pace of investments committed into the infrastructure sector in North Africa has been moving at a healthy pace bringing the rest of the economy with it. And that bodes well for the region as it seeks to catch up with the rest of the world....[Corporate Affairs] 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)....[Economy and Trade] It's All About Oil and Some
After eight years in a Scottish jail, the Libyan man convicted for his role in the 1988 Lockerbie bombing has been released on compassionate grounds. Abdel Basset Al-Megrahi is said to have only a few months to live and has arrived in Libya where he was greeted by thousands of supporters. While Scottish justice minister Kenny MacAskill argues his decision was an act of compassion toward a dying man, it is a lot more complex than that....[Economy and Trade] Algeria to Slow Imports, Seeks to Reduce Credit Risk with New Finance Law Measures
The Algerian government enacted substantial changes in the country’s finance law, a move considered by many as drastic and severe. The changes were issued as part of Algeria’s mid-term complementary finance law for 2009. ...[Energy and Mining] North Africa to Play an Increasing Role in Mediterranean Downstream
PFC Energy: The Mediterranean oil product markets have historically been dominated by the Western European Med markets (France, Italy and Spain), both in terms of demand (47% of demand in 2008) and in terms of refining production (48% of supply in 2008). Going forward, however, Western European markets will see their weight progressively decline, due to a decline in demand and to challenges for some of its refineries....[Energy and Mining] Gulf Keystone to Sell Algerian Permit to Focus on Kurdistan Operations
Bermuda-based oil company Gulf Keystone Petroleum Ltd. says it is looking to sell its interest in the Hassi Ba Hamou permit (HBH). ...[Corporate Affairs] 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. ...[Finance and Banking] Libya’s Billions in Search of Projects
Libya is moving fast to catch up with oil-rich Gulf nations that have set up lucrative investment funds to acquire assets around the world. However, Libya’s entry into the global investment community is not new. Its first and probably most known fund, the Libyan Arab Foreign Investment Company (Lafico) was already set up some 28 years ago....[Finance and Banking] Libyan Investments Abroad on the Rise, New Focus on Africa
Most of the coverage about Libya the past few years has been about foreign investors pouring money into the promising oil and gas sector of the newly reopened North African nation.Very little has been said about Libya’s rechanneling of its oil revenues into foreign markets. ...[Industries and Markets] Slowing Headwinds in Tunisian Real Estate Sector, Opportunities Elsewhere in the Maghreb
Despite statements from industry officials that everything is moving on track, the Tunisian real estate sector is showing signs of considerable slowdown. ...[Economy and Trade] Spain to Lead a New European Economic Offensive in North Africa
Owing to booming oil revenues and aggressive sovereign wealth funds, rich Gulf countries have been leading the way as foreign investors in North Africa since 2003, as well as in the southern Mediterranean zone, displacing western investors....[Finance and Banking] Debit and Payment Cards on the Rise in North Africa
The use of debit cards remains in its infancy in North Africa, with various levels of penetration from one country to another. ...[Corporate Affairs] Royal Air Maroc Seeks to Divest from Senegal Airline
Moroccan airline carrier Royal Air Maroc (RAM) is looking to divest from Air Senegal International....What's new
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