Follow the latest in economic news and developments about the Arab transition countries.
US Secretary of State John Kerry announced at the US-Africa summit in Washington that the US intends to focus on free and fair elections in Africa in the coming years and the Obama Administration is committed to release over the next five years $9 million dollars for Tunisia. [White House]
Egypt has shifted responsibility for its vegetable oil imports from the state-run General Authority for Supply Commodities (GASC) to another government entity, the Food Industries Holding Company (FIHC). The change is part of wider reforms being implemented to rein in billions of spending on food subsidies. FIHC supplies subsidized goods to stores that then sell them to the public. GASC will continue handling wheat import tenders. [Reuters]
The Arab Contractors company has investments in Libya totaling up to EGP 610 million, according to company chairman Mohamed Mohsen Salah, who added that the projects being implemented by the company include building sewage plants, dams and drinking water projects. [DNE]
Minister of Oil and Minerals Hussein al-Kaf discussed on Tuesday with Head of the EU delegation to Yemen Bettina Muscheidt the economic cooperation in the oil sector; including the economic situation in Yemen and the government trends to increase the oil production and the investments required in this regard, as well as the technical assistance that could be provided by the EU to Yemen in this field. [SABA]
Also of Interest:
Capital Economics: Egypt’s economy gradually recovering | Amwal Al-Ghad
Egyptian workers leaving Libya increases unemployment in Egypt | DNE
Jordan turns to wind power in search of renewable energy | Al-Monitor
Jordan to sign MoU with US for 2015-2019 assistance | Al-Ghad (Arabic), Jordan Times
Industrialization and Global Value Chains in Libya | AfriBiz
Morocco: Staff Report, Press Release and Statement by the Executive Director | IMF
Tunisian president asks for US support as Arab democracy hope | Bloomberg
Tunisia: Articles 19 to 34 of supplementary finance bill adopted | TAP
Tunisia: Articles 37 to 45 of complementary finance law adopted | TAP
Analysis: Maghreb countries in force at US-Africa summit | Magherbia
Shariah funding offers fresh hope for SMEs in MENA | Zawya DJ
Blog: ISIS is making $3 million each day | World Policy