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Ooredoo ad in Doha. The company is investing $1bn to increase its data centre capacity

Qatar’s Ooredoo signs AI deal with chipmaker Nvidia

US chipmaker Nvidia has signed a deal with Qatari telecommunications provider Ooredoo Group to bring its artificial intelligence technology to five countries in the Middle East, the companies announced on Sunday.  Ooredoo will be the first company in the region to offer direct access to Nvidia’s AI and computer chips to its customers in Qatar, […]

The Baladna project is intended to produce 1.7 billion litres of milk a year from 270,000 cows

Baladna lines up $3.5bn Algerian dairy venture

Baladna, the largest dairy food producer in Qatar, is exploring plans for a $3.5 billion venture in Algeria that will be based on a herd of more than a quarter of a million dairy cows. The company has signed a framework agreement with the Algerian Ministry of Agriculture and Rural Development to set up what […]

Egypt's wealthiest man, Nassef Sawiris, who lives in Cairo, has interests in construction, manufacturing and sports

Cairo has most billionaires in Africa, but wealthy are leaving

Cairo is home to more billionaires than any other African city, but Egypt is facing an exodus of its wealthiest citizens. The international wealth advisory firm Henley & Partners said Cairo is home to four billionaires, and 30 centi-millionaires – those worth $100 million or more. Most reside in affluent parts of Greater Cairo, including […]

An employee at the Stellantis engines factory in Tremery, France. The company hopes to employ 2,000 people in Algeria by the end of 2026

Stellantis puts Algerian car industry on road to recovery

Multinational car maker Stellantis has announced the start of production at its factory in Algeria, with a commitment to expand further to help the ailing local market. Four Fiat models will be built, including the Fiat 500 and Fiat Doblo, as part of an initial €200 million ($216 million) investment in the plant in Tafraoui, […]

Bader Al-Kharafi and Aziz Aluthman Fakhroo

Gulf telcos sign deal to create $2bn tower company

Telecom operators Ooredoo and Zain Group on Tuesday said agreements have been signed to create the largest tower company in the Middle East and North Africa. The cash and share deal, which also involves Dubai-based Tasc Towers Holding, will establish a company comprising 30,000 telecom towers in Qatar, Kuwait, Jordan, Iraq, Algeria and Tunisia, with […]

The Kaombo Norte floating oil platform in Angola.

Market confusion over Opec+ cuts hits oil prices

Oil prices fell further on Friday after tumbling sharply when Opec+ announced more production cuts amid suspicions that quotas will not be adhered to. Brent, the main international benchmark, traded at $80.66, down from $84.37 on Thursday, while West Texas intermediate was flat at $75.94.  Saudi Arabia, Russia and other members of Opec+ announced on […]

Algerian energy minister Mohamed Arkab

Opec+ agrees to cut 2m bpd at delayed meeting

Early reports indicated on Thursday that Opec+ members, led by Saudi Arabia, have agreed at their delayed meeting to cut oil output by nearly 2 million barrels per day, above supply curbs agreed in June. Crude prices rose nearly 1 percent in anticipation of the decision; Brent traded at $82.51. Saudi Arabia, Russia and other […]

Phosphate mining in Morocco

Future is rosy for Mena phosphate producers

With Morocco and Saudi Arabia now holding the bulk of the world’s high-quality, accessible phosphate rock reserves, the Middle East and North Africa (Mena) region is a major centre for the phosphate mining industry’s future growth, analysts say. Morocco alone holds around 70 percent of the world’s total reserves of phosphate rock, the raw material […]

Government agency Anesrif is seeking companies to build 575km of railway to the mine in the western Tindouf province

Algeria’s rail tender aims to boost iron ore mining sector

Algeria has issued a construction tender for a rail project that the government hopes will unleash the potential of an iron ore mine in a remote province. Anesrif, a transport business set up by the government to expand and modernise the railway system, is seeking companies to build a 575km section to the Gâra Djebilet […]

A Sonatrach facility in Ouargla province, eastern Algeria. The state-owned company has pledged to invest $30bn in oil and gas

Algeria’s GDP growth to slow as oil production dips

Algeria’s economic growth is expected to slow this year and in 2024 as oil production drops. Analysts at BMI, formerly Fitch Solutions, forecast that the country’s real GDP will be 2.1 percent in 2023 and 1.9 percent next year – down from 3.3 percent in 2022. Algeria’s hydrocarbon production – made up of one-third gas […]

Jamjoon Pharmaceuticals raised $336 million in an initial public offering earlier this year

Saudi pharma firm to buy manufacturing site in Algeria

Jamjoom Pharmaceuticals Factory Company has increased capital in its joint venture in Algeria to help finance the acquisition of a manufacturing facility. In a filing to the Saudi Stock Exchange, the company, which raised $336 million in an initial public offering in May, announced the additional funding in Jamjoom Algeria Lil Dawa, in which it […]

Algeria's state-run Sonatrach plans to develop its gasfields to help offset declining production

Investment needed to unlock Algeria’s gas supplies

Algeria has helped to plug Europe’s gas needs following Russia’s invasion of Ukraine, but industry experts say future growth in exports can only be sustained with further investment.  Africa’s largest gas exporter saw its share of EU gas imports increase to 44 billion cubic metres last year, accounting for around 12 percent of the total, […]

The Russia-Ukraine war continues near the frontline town of Bakhmut on February 21

One year on, what the war in Ukraine means for the Middle East

A year since Russia invaded Ukraine, the war’s impacts are reverberating across the Middle East and North Africa.  While some Gulf oil producers have prospered during the conflict, it has heaped suffering on some of the most fragile and volatile economies in the region.  “It has contributed to the difficulties in Egypt and the worsening […]

GIC completed the acquisition of a minority stake in Pipecare Group Holding on November 15

Eni and Snam join forces on Algeria-Italy gas pipelines

Italian energy group Eni and gas grid operator Snam have clinched a partnership to jointly manage their assets in the gas pipelines connecting Algeria to Italy. With Russia curtailing its gas flows to Europe, Algeria last year emerged as Rome’s biggest gas supplier, making the network between the two countries a strategic infrastructure for Rome’s […]

Algeria’s Sonatrach plans to invest over $30bn in hydrocarbons

Algeria’s state-owned Sonatrach has revealed plans to invest over $30 billion in exploring and producing hydrocarbons, with a particular focus on natural gas to supply to the global market. “As part of Sonatrach’s five-year investment plan more than $30 billion will be allocated to exploration and production,” said CEO Toufik Hakkar, according to Algeria Press […]