As oil prices have fallen, currencies of developing countries that rely heavily on exports have been sliding.» Read More
*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...
ALGIERS, Algeria— In a March 15 story about the Sonatrach corruption trial in Algiers, The Associated Press reported erroneously that ambassadors from the United States, Germany and Italy had attended the trial. Algeria's enormous oil corruption scandal finally goes to trial 5 years after discovery. ALGIERS, Algeria— Five years after it first came to light, the...
ALGIERS, Algeria— Five years after it first came to light, the trial began Sunday for one of Algeria's most notorious corruption scandals involving the state-run oil company that generates most of the country's revenue. In a packed courthouse that included the ambassadors of Italy, the U.S. and Germany, prosecutors read out the charges against former head of...
WARSAW, Nov 28- Poland's embassy in Algiers is not the grandest posting- the diplomats share the building with their Swedish colleagues to keep costs down- but last year it oversaw the fastest growth in trade of any Polish mission. When Poland joined the European Union a decade ago, it believed it had found its path to prosperity. That Poland and its peers in eastern...
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.
Kerry Series, Founder and CIO, Eight Investment Partners, says recent declines in oil prices are stimulatory for the global economy.
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.
Disruption from the Russia-Ukraine conflict is not the only threat to Europe's energy supplies—there's also Algeria.
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 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.
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.
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.
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.
A consortium that deals with security issues is warning about possible threats to oil installations in Libya.
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.
Tony Nash, Managing Director, IHS discusses the ground level risks that energy firms face. He says companies are taking a more disciplined and methodological approach to risk.
The biggest mistake the energy industry makes is to ignore regional and geopolitical dynamics. It's complicated, and the corporate world doesn't have the patience for it.
Lord Malloch-Brown, EMEA chairman of FTI Consulting, tells CNBC that the revival of the centrist vote in Israel is 'good news' but a weaker Netanyahu may become a 'prisoner' of the right.
Brent crude rose above $112 a barrel on Tuesday, after Japan pledged to pump in more money to boost its economy.
Andrew Su, CEO, Compass Global Markets says the economic picture in the U.S. and Europe will worsen, which will lead WTI prices to retreat drastically in the next few months.