Business News Algeria

  • *USDA fails to report any new soy purchases by China. Midwest weather that has helped accelerate crop maturity in corn and soybeans and worrisome dryness in South America, where farmers in Argentina and Brazil are preparing to plant their next crops. Chicago Board of Trade November soybeans fell 5 cents to settle at $8.88-3/ 4 a bushel, while December corn rose 3-1/...

  • PARIS/ SINGAPORE, Sept 18- Chicago corn prices firmed on Wednesday, steadying as attention shifted away from turbulent crude oil markets and towards prospects for the U.S. harvest now getting under way. Soybeans also steadied after easing on Tuesday, with investors similarly assessing the U.S. harvest outlook amid mild late-summer weather while awaiting...

  • *Soybeans ease after rally on China hopes. PARIS/ SYDNEY, Sept 16- Chicago corn futures edged lower on Monday from an earlier two-week high as favourable weather for late-developing Midwest crops offset support from a surge in crude oil prices and signs of easing U.S.- China trade tensions. The most active corn futures contract on the Chicago Board Of Trade was...

  • PARIS, Sept 9- Air France-KLM shares fell sharply on Monday as it emerged as a bidder for bankrupt French-based budget carrier Aigle Azur, which left 19,000 passengers stranded when it abruptly halted operations. Higher fuel costs and stiffer low-cost competition have led to a wave of bankruptcies among smaller European airlines in recent years, including...

  • Junior transport minister Jean-Baptiste Djebbari earlier told Le Parisien that Air France-KLM "appears to want to make an offer"- also mentioning a likely bid from Lionel Guerin, former head of the French carrier's Hop! Higher fuel costs and stiffer low-cost competition have led to a wave of bankruptcies among smaller European airlines in the past three years,...

  • Junior transport minister Jean-Baptiste Djebbari earlier told Le Parisien that Air France-KLM "appears to want to make an offer"- also mentioning a likely bid from Lionel Guerin, former head of the French carrier's Hop! Higher fuel costs and stiffer low-cost competition have led to a wave of bankruptcies among smaller European airlines in the past three years,...

  • *Gazprom market share falls to 35% in Turkey, 50% in Greece. LONDON, Sept 6- Russian gas exports to Turkey and eight other southeast European nations fell by more than a quarter in the first half of 2019 as cheaper liquefied natural gas and new Azeri supplies helped the region reduce reliance on Russia. Russian exports to Turkey, the biggest regional market, fell 36%...

  • *Dissent has continued since Bouteflika resigned in April. *Thousands of jobs threatened as business tycoons detained. ALGIERS, Aug 27- On the face of it, Algeria's state-dominated economy has weathered six months of turmoil well, with flightloads of public sector workers heading abroad for holidays even as protesters who ousted the veteran president in April...

  • CAIRO/ MOSCOW, Aug 8- Saudi Arabia will relax its bug-damage specifications for wheat imports from its next tender onwards, it told Reuters on Thursday, opening the door to Black Sea imports and strengthening ties with Russia beyond energy cooperation. Russia has long sought access to Saudi Arabia's wheat market as Moscow tries to take further market share in...

  • ALGIERS, July 24- Algeria's state power utility Sonelgaz will seek foreign loans to finance its development plan, its chief executive said on Wednesday, becoming the first company in the North African country to look for funds abroad in decades. OPEC member Algeria relies heavily on oil and gas, which account for 94% of total exports and 60% of the state budget.

  • *French exports eroded by cheap, good-quality Black Sea supply. PARIS, July 22- A French export alliance of grain cooperatives to take on the challenge of Black Sea supplies may not be enough to stop the EU's top exporter losing the vital Algerian market to Russian wheat, traders and analysts said. Russia's rise to become the world's biggest wheat exporter has...

  • ALGIERS, July 15- Algeria's government has suspended the head of grains agency OAIC over corruption allegations, sources close to the prime minister's office said, creating uncertainty for traders who supply one of the world's biggest cereal importers. French supplies usually account for the majority of Algeria's wheat imports, making the North African...

  • *Competition from Black Sea region has curbed French exports. PARIS, July 11- Three of France's largest agricultural groups have formed a grain export joint venture in an attempt to improve their competitiveness in overseas markets increasingly dominated by Black Sea producers like Russia and Ukraine. Cooperative groups InVivo, Axereal and NatUp have...

  • LONDON, July 3- Chicago corn futures rose for a second session on Wednesday with prices underpinned by concerns over late-planted crops in the U.S. The most-active corn contract on the Chicago Board of Trade was up 0.9% at $4.30 a bushel by 1145 GMT, having gained 0.8% in the previous session. The U.S. Department of Agriculture on Monday pegged the condition of the...

  • *Corn up after sliding since Friday's USDA acreage estimate. CHICAGO, July 2- Chicago corn futures closed higher for the first time in five sessions on Tuesday on technical buying and lower-than-expected condition ratings for developing U.S. crops, analysts said. Chicago Board of Trade September corn futures settled up 3-1/ 2 cents at $4.19 a bushel, rallying...

  • *Iraq says OPEC set for roll over, may discuss deeper curb. *Investors await G20, OPEC meeting. NEW YORK, June 27- Oil prices edged higher on Thursday on expectations that OPEC will extend an output cut agreement, while investors awaited a meeting between the United States and China that could produce a breakthrough on trade talks.

  • *Iraq says OPEC set for rollover, may discuss deeper curb. NEW YORK, June 27- Oil prices edged lower on Thursday, pressured by worries about whether the G20 summit will produce a breakthrough on trade that could strengthen the global economy and boost oil demand. Brent crude futures fell 18 cents, or 0.3%, to $66.31 a barrel by 11:30 a.m. EDT.

  • *Iraq says OPEC set for rollover, may discuss deeper curb. LONDON, June 27- Oil fell below $66 a barrel on Thursday, weighed down by concerns over whether the G20 summit will produce a breakthrough on trade and perceptions that supply is ample despite prospects for continued OPEC curbs. Brent crude, the global benchmark, was down 56 cents at $65.93 by 1215 GMT.

  • LONDON, June 27- OPEC is expected to roll over a deal on cutting supplies at a meeting next week and discuss deepening the curbs that have been in place since Jan. 1, Iraq's oil minister on Thursday. A deal between the Organization of Petroleum Exporting Countries and allies including Russia to curb output by 1.2 million barrels runs out at the end of June.

  • *OPEC exempt producers cut more oil than rest of group. LONDON, June 26- Oil output in Iran and Venezuela, under U.S. sanctions, has fallen by more than that of other OPEC members party to a supply cut pact, suggesting President Trump's policies have had a greater impact on oil production than OPEC itself. The actual cut is more than 2.5 million bpd, according to OPEC...