Energy
From Importer Morocco to Exporter Algeria. North African Countries Cope Differently with Rising Oil Prices
Petroleum prices have reached record levels. While producing countries like Algeria are benefiting from the sale of crude oil priced at $40 or more per barrel, importing markets like Morocco are facing the prospect of slower growth and uncertainty. High prices impact different countries in different ways. But in the case of many (or most) developing economies that rely heavily on imports and which do not have a domestic oil industry, the government plays a major role in preventing the negative impact of price fluctuations on their economies.
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Privatization
Tunisia's Banque Du Sud Privatization Underway
The second phase of activities leading to the privatization of the Tunisian bank Banque du Sud (BDS) is underway. The pre-selection process is in advanced stage since the bank has already been receiving letters of interests from international banks. According to sources, the first two banks that have already been looking at BDS performance and available data are the Italian bank Monte Dei Paschi and the Spanish-Moroccan duo Santander and Banque de Commerce du Maroc.
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Crisis
GSPC Terrorist Organization Gets New Leader
After the reported execution of its historical leader and founder Hassan Hattab (and later denied by the new GSPC leader), and the capture of his replacement Abderazzak le Para by Chadian rebels, the GSPC appears now to have a new but equally ruthless leader, the one who has reportedly masterminded the killing of his former boss Hattab. Nabil Sahraoui emerged as the new leader, although officially in charge of the GSPC’s second operational zone, grouping eastern Algiers, the Kabylie and the province of Msila, the same role that was also previously held by Hattab.
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The Economic Report:
Positive Momentum in the Moroccan Economy, But Mix Signals from Industrial Sector
The agricultural campaign in Morocco is likely to yield strong performance with a positive impact on the overall economy. As the second quarter ends, other sectors appear to be performing well, which will have also a good impact on GDP growth. Among the most promising sectors are trade, transport, communications, energy, mining and public works. Non-farming GDP is now projected to grow at 3.5% in 2004, as compared to 3.1% in 2003, according to government analysts.
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Illegal Drugs
Algeria Cracks Down on Cannabis Trafficking
Soft drugs consumption has been steadily rising in Algeria, particularly among the younger population. But the government is cracking down on suppliers and those involved in trafficking, while slowly building up the infrastructure needed to treat addicts
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Water Infrastructure
Spanish Consortium Wins Second Water Desalination Project in Algeria
Algeria is expanding its water desalination infrastructure. Facing a major water shortage, Algeria has been moving fast in the past months to commission the construction of water desalination plants, in an ambitious program aimed at raising the supply the water to households and businesses. The latest move was the announcement that the Spanish firm Geida, which is composed of three companies, Cobra, Codesa, and Sadyt was awarded a contract to build such facility in the port city of Beni Saf in western Algeria. For Geida, this will be the second such plant it will build, following its April 2004 winning of a contract to build a 100,000 cubic meter plant in Skikda, eastern Algeria.
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in this issue Crisis: GSPC Terrorist Organization Gets New Leader Railroads: Tunis-Ghardimaou Railroad to Undergo Upgrade. Financing: Moroccan Bankers and Small Businesses Discuss Financing. The End of a Feud? Stock Exchanges: Positive Momentum in the Casablanca Stock Exchange Energy: North African Countries Cope Differently with Rising Oil Prices Privatization: Tunisia Banque Du Sud Privatization Underway Privatization Trade: Islamic Development Bank Money to Boost Tunisia-Cameroon Banking International Finance Corp Grants $50 Million Loan to Tunisian Bank BIAT Airlines: Airliner Aigle Azure Boosts its Capacity on the Algerian Market Conflicts: A Lingering Conflict Wrecks Havoc in the Kabylie Region The Economic Report: Positive Momentum in the Moroccan Economy, But Mix Signals from Industrial Sector Pharmaceutical Sector: Morocco Remains Small Market for Viagra Energy: Energy Consumption in Morocco on the Rise Industry Profile: The Construction Material Market in Tunisia Economy: Libya to Record Budget Surplus and a $20 Billion Foreign Currency Reserve Corporate: Maroc Telecom Shows Strong First Calendar Quarter ‘04 Law: The End of the Moroccan Special Court of Justice Illegal drugs: Algeria Cracks Down on Cannabis Trafficking Tourism Sector: Recovery Underway in Morocco Industry: Spanish Consortium Wins Second Water Desalination Project in Algeria Corporate: Growing Losses at Moroccan GSM Operator Meditel Markets: Children Publications Hit Algerian Market Telecom: Wataniya and Orascom to Offer GPRS on Mobile Phones in Algeria Info Tech: Algerian Postal Service to Generalize Use of IT in 2004

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