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Egypt says will not need IMF, World Bank funds

Saturday, June 25th, 2011

CAIRO - Finance Minister Samir Radwan said on Saturday Egypt would not need funds from the World Bank and International Monetary Fund, although a deal had been agreed, after budget revisions cut the forecast deficit. "We do not need to go at this stage to the bank and the fund," Radwan said, adding Egypt still had the "best relations" with the institutions. He said Qatar had provided $500 million for budgetary support in the past week. "That is a gift," he said, when asked if there Read more [...]

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Tunisia on track to democracy, risks remain: UN

Friday, February 25th, 2011

Tunis-Tunisia's interim government is on the right track towards democracy but the former ruling party, security apparatus or corrupt elite could reverse precarious gains, the United Nations warned on Thursday. Senior U.N. human rights officials called for extensive reforms in the North African country ahead of free and fair elections which they said should be held in several months and be open to all political parties. At least 147 people were killed and 510 injured in unrest which ousted Read more [...]

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Algeria lifts two decade old state of emergency

Friday, February 25th, 2011

Algiers-Algeria on Thursday lifted a 19-year-old state of emergency in a concession to the opposition designed to keep out a wave of uprisings sweeping the Arab world. Ending the emergency powers was one of the demands voiced by opposition groups which have been staging weekly protests in the Algerian capital that sought to emulate uprisings in Egypt and neighbouring Tunisia. However, one of the organisers of the protests told Reuters this week that lifting the state of emergency was not Read more [...]

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Libya’s oil output cut by 75 percent

Thursday, February 24th, 2011

Tripoli-Turmoil in Libya has slashed its oil output by 75 percent or 1.2 million barrels per day, key Libyan oil sector player ENI said on Thursday. This is the highest estimate to date of Libya's crude production reduction and has added steam to oil's price rally. Oil surged on Thursday to near $120 a barrel because of the disruption , even though OPEC's leader Saudi Arabia has said it is willing to make up for any shortages while trading sources questioned ENI's high Libyan outage estimate. ENI Read more [...]

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