Follow the latest in economic news and developments about the Arab transition countries.
Interim Prime Minister Mehdi Jomaa, on Wednesday, said at the plenary session of the National Constituent Assembly (NCA) that the supplementary finance draft law 2014 entitled “on the road to economic recovery,” does not include an austerity strategy. [TAP]
Egypt is set for an expensive price tag as it seeks to clinch a deal to import much-needed liquefied natural gas from Algeria, according to people familiar with talks between the two countries. Late last month gas-rich Algeria agreed in principle to supply Egypt with roughly five cargoes containing 145,000 cubic meters of LNG each before the end of the year. [WSJ]
Maadi-based oil trader Tri Oceans Trading has been added to a list of companies sanctioned by the European Union. The company has been accused of “providing support to the Syrian regime and benefiting from the regime by organizing covert shipments of oil to the regime,” and will have any assets in the European Union frozen. [Mada Masr]
Also of Interest:
Interview: ‘We have lots of unused resources’: Ahmed Galal, former finance minister | Ahram
Egypt restarts plan to build first nuclear power plant | Ventures
Sinai Cement begins preparations for coal usage | Ahram
Jordan scrambles to avoid energy crisis amid regional turmoil | Ammon News
Op-ed: Building Jordan’s future: The case for targeted investment | Al Arabiya
Repsol net beats estimates as new output counters Libya half | Bloomberg
Moroccan government misses growth targets as opposition grows | Al-Monitor
Morocco launches vocational baccalaureate | Magharebia
Yemen’s economic reforms make Yemenis angry | Yemen Post