Business News Algeria

  • ANNABA, Algeria, Aug 15- The Sidi Rezine refinery in the Algerian capital Algiers will come back online at the beginning of 2019 with an estimated output of 3.6 million tonnes of refined products, a senior official at state energy company Sonatrach told Reuters on Wednesday.

  • *Algeria's state energy firm wants to attract more investment. *Graphic on Algeria's oil and gas https://reut.rs/2Op6Xbv. President Abdelaziz Bouteflika put U.S.-trained Abdelmoumen Ould Kaddour in charge of overhauling Sonatrach in March, 2017, after years of short-lived CEOs, fraud scandals and red tape had put foreign investors off the North African...

  • SAN FRANCISCO, Aug 2- Apple Inc on Thursday became the first $1 trillion publicly listed U.S. company, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. In a memo to Apple's more than 120,000 employees on Thursday that...

  • SAN FRANCISCO, Aug 2- Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. The tech company's stock jumped 2.9 percent to end the day at...

  • SAN FRANCISCO, Aug 2- Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. The tech company's stock jumped 2.8 percent to as high as $207.05,...

  • *Apple hits $1 trillion in market value. Aug 2- Apple became the first $1 trillion publicly listed U.S. company on Thursday, leading a rebound in technology stocks and pushing the benchmark S&P 500 and the Nasdaq higher. "There's optimism now that the U.S. style of threatening tariffs may ultimately come to fruition in a deal," said Brad Neuman, director of market...

  • Aug 2- Apple Inc became the first $1 trillion publicly listed U.S. company on Thursday, crowning a decade-long rise fueled by its ubiquitous iPhone that transformed it from a niche player in personal computers into a global powerhouse spanning entertainment and communications. BRAD NEUMAN, DIRECTOR OF MARKET STRATEGY AT ALGER, A GROWTH EQUITY ASSET...

  • *Boston Consulting Group advising on strategy- sources. LONDON/ ALGIERS, July 24- Sonatrach is in talks with oil majors and trading firms to start a trading joint venture after the Algerian state energy company reached a deal this year to buy its first overseas refinery, its chief executive told Reuters. "The foreign firm will have small shares in the trade joint...

  • BOURKIKA, Algeria, May 1- Algerian farmer Hassen Miri trudges through mud to inspect his durum wheat field, helping the oil producing nation in its efforts to boost agricultural output and reduce food imports. Algeria, a member of Organization of the Petroleum Exporting Countries, has long neglected its farmers and focused on its oil and gas industry that...

  • ALGIERS, April 29- At least 15 African migrants died on Sunday when their boat trying to reach Europe capsized off the Algerian coast, a coast guard official said. The boat sank off the coast of Oran, a city some 450 km west of the capital Algiers, the official told Ennahar TV station, adding that the boat had departed from Morocco. Last week, Algeria's interior ministry...

  • HONG KONG, April 24- A painting of a reclining nude by Italian artist Amedeo Modigliani is set to go under the hammer in New York on May 14 with a record sale estimate of $150 million, auction house Sotheby's announced on Tuesday. "Modigliani creates a new kind of nude for the modern era," said Simon Shaw, the global co-head of Sotheby's Impressionist and Modern Art...

  • *Western Sahara refugees among dead- Polisario member. ALGIERS, April 11- More than 250 people including Western Sahara refugees were killed when a military plane crashed near Algeria's capital on Wednesday, state media said, with witnesses saying they saw a wing catch fire shortly after the plane took off. Bits of mangled and smouldering debris were scattered...

  • Rescuers are seen around the wreckage of an Algerian army plane which crashed near the Boufarik airbase from where the plane had taken off on April 11, 2018. The Algerian military plane crashed and caught fire killing 257 people, mostly army personnel and members of their families, officials said.

    More than 250 people were killed when a military plane crashed in a field outside Algeria's capital on Wednesday, officials said.

  • ING has confirmed it is facing a criminal investigation into alleged money laundering and corruption from Netherlands authorities.

  • OPEC President Qatar's Energy Minister Mohammed bin Saleh al-Sada and OPEC Secretary General Mohammad Barkindo address a news conference after a meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna, Austria, November 30, 2016.

    Eleven non-OPEC oil producers that joined a global deal to reduce output to boost prices delivered 64 percent of promised cuts in February.

  • Qatar's Minister of Energy and the OPEC Conference President, Mohammed Bin Saleh Al-Sada (2nd L) and Secretary General of OPEC, Mohammad Sanusi Barkindo (2nd R) attend a press conference following the 171st Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria on November 30, 2016.

    Saudi Arabia over-delivered, but OPEC cut about 90 percent of the oil supplies it committed to take off the market.

  • Snow in the Sahara desert near the town of Ain Sefra, Algeria Dec 20.

    The Sahara Desert was dusted in a layer of snow after a strong polar front from the Mediterranean, reports NBC News.

  • OPEC Deal

    Arab monarch-led OPEC nations have incentives to adhere to the output cut, says Mark Keenan at Societe Generale.

  • Saudi Arabia's Energy Minister Khalid al-Falih arrives for an informal meeting between members of the Organization of Petroleum Exporting Countries, OPEC, in the Algerian capital Algiers, on September 28, 2016.

    Saudi Arabia's Energy Minister Khalid al-Falih said on Sunday he had invited his Russian counterpart Alexander Novak to meet Gulf Arab energy ministers.

  • Skyscrapers stand in the King Abdullah financial district in Riyadh, Saudi Arabia, on Saturday, Jan. 9, 2016.

    The past week signaled that Saudi Arabia's role as the undisputed leader of the OPEC cartel is changing.