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Business Algeria

  • Jay Vincze, international director and head of department, said the results showed the super rich were still keen to buy art after two weeks of sales in New York in May brought in well over $2 billion at Christie's and rival Sotheby's. Buyers routinely remained anonymous but Vincze said they came from across 32 countries, with Asia still strong and combining with...

  • ATHENS/ BERLIN, June 15- Greece's government denied a German newspaper report on a euro zone plan that involves Athens imposing capital controls this weekend if it fails to reach a deal with creditors this week, a government official told Reuters on Monday. The newspaper said "it became known in Berlin and Brussels" that Greece's international creditors wanted...

  • SIDI RACHED, Algeria, June 8- At Ahmed Bekhi's cereal farm outside Algiers, there are clear signs of Algeria's campaign to increase food production to help curb billions of dollars in imports and offset a sharp fall in world oil prices. OPEC member Algeria is still highly dependent on energy revenues that supply 95 percent of its exports and 60 percent of the state...

  • *France's BEA notified regulators who would issue guidance. PARIS, April 4- Aviation regulators are expected to issue new advice to pilots after investigations into the crash of an Air Algerie jet in Mali last July found it went out of control after being hit by ice as an anti-icing system remained switched off. France's BEA crash investigation agency, which is...

  • French retailer Carrefour returning to Algeria - source Thursday, 19 Mar 2015 | 7:02 AM ET

    *Carrefour expanding in Africa through franchises, JVs. PARIS, March 19- Carrefour is preparing to return to Algeria after a six-year absence, as part of a drive to tap booming consumer demand in Africa. Rising incomes and an underdeveloped retail sector have made Africa an important new growth destination for retailers and consumer goods companies, with the...

  • Oil price slide hits exporter currencies Friday, 19 Dec 2014 | 1:24 PM ET
    Nigerian oil facility

    As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.

  • Why now is the time to look at low-cost oil producers

    Joe Magyer, Senior Analyst at The Motley Fool, describes the reaction of emerging market assets to plunging oil prices.

  • JPMorgan: Brent to settle at $75 in Q1 2015 Friday, 28 Nov 2014 | 12:03 AM ET
    JPMorgan: Brent to settle at $75 in Q1 2015

    Scott Darling, Regional Head of Oil & Gas Research at JP Morgan, explains why he sees further declines in oil prices next year.

  • Saudi Arabia is trying to curtail US shale:CS Thursday, 27 Nov 2014 | 9:20 PM ET
    Saudi Arabia is trying to curtail US shale: CS

    David Hewitt, Co-head of Global Oil & Gas Equity Research at Credit Suisse, says OPEC is facing an economic conflict with U.S. shale producers.

  • Expect oil glut, US shale bankruptcies: Analyst Thursday, 27 Nov 2014 | 6:41 PM ET
    Expect oil glut, US shale bankruptcies: Analyst

    Neil Beveridge, Senior Oil Analyst at Sanford C. Bernstein, says OPEC's decision not to cut output is triggering a glut of supply and may result in bankruptcy for U.S. shale producers.

  • Lower oil prices, exactly what the doctor ordered? Thursday, 27 Nov 2014 | 6:05 PM ET
    Oil markets undergoing structural trend: Expert

    Kerry Series, Founder and CIO, Eight Investment Partners, says recent declines in oil prices are stimulatory for the global economy.

  • Wreckage of Air Algerie jet found in northern Mali Thursday, 24 Jul 2014 | 9:24 PM ET
    An Air Algerie jet is shown at Berlin's Schoenefeld Airport.

    Authorities have found the wreckage of an Air Algerie jet after it crashed in Mali carrying 116 people en route from Burkina Faso to Algeria.

  • The other major threat to Europe’s energy security Thursday, 24 Apr 2014 | 3:13 PM ET
    Algerian President Abdelaziz Bouteflika casts his vote in the country's recent presidential elections in el-Biar suburb of Algiers on April 17, 2014.

    Disruption from the Russia-Ukraine conflict is not the only threat to Europe's energy supplies—there's also Algeria.

  • Arab Spring 2.0: Instagram sparks women start-ups Tuesday, 19 Nov 2013 | 7:00 AM ET
    Change is in the air: demonstrations in Cairo's Tahrir Square

    Thanks to social media women all over the Middle East are finding ways to help one another start businesses. It's a movement that is about more than economics.

  • OPEC Holds Line on Output, Surprising None Friday, 31 May 2013 | 8:06 AM ET

    OPEC oil exporters agreed on Friday to leave output policy unchanged on Friday as oil held around the group's preferred level of $100 a barrel.

  • Worried About OPEC Meeting? You May Be the Only One Tuesday, 28 May 2013 | 8:25 AM ET
    The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at the headquarters building in Vienna.

    Oil traders should not lose too much sleep worrying about what OPEC, often unpredictable and quarrelsome in the past, will do when it meets next week.

  • Statoil CFO: Fifty More Wells to Be Drilled in 2013 Thursday, 7 Feb 2013 | 1:45 AM ET
    Statoil CFO: Fifty More Wells to Be Drilled in 2013

    Torgrim Reitan, CFO of Statoil, tells CNBC that earnings and production are growing significantly and 2012 was the best exploration year for the company since 1997.

  • Crescent Petroleum: Most Stable Period for Oil Prices Wednesday, 30 Jan 2013 | 2:40 AM ET
    Crescent Petroleum: Most Stable Period for Oil Prices

    Majid Jafar, CEO of Crescent Petroleum, tells CNBC that a general sense of instability post the Arab Spring has already been factored in to the oil price but there has been no direct impact from the Algerian hostage attack.

  • Algerian security forces escort a bus carrying freed hostages outside a police station in In Amenas in the desert in Algeria's deep south on January 19, 2013.

    A consortium that deals with security issues is warning about possible threats to oil installations in Libya.

  • Will Oil Companies Pull Out of North Africa? Monday, 28 Jan 2013 | 2:10 AM ET
    Will Oil Companies Pull Out of North Africa?

    Neil Atkinson, director of Energy Research & Analysis at Datamonitor, tells CNBC that BP are talking about suspending drilling activities in Libya following the terrorist attack in Algeria.