This black market for foreign currencies is among the signs of the economic woes plaguing Algeria. In the oil-rich North African nation, business owners are rumored to be dumping their assets and scrounging up euros on the black market so their wealth isn't stuck. The government estimates roughly $7 billion worth of foreign currency trades hands on the country's black market. Traders are intimately aware that the gap between the official and black market exchange rate can narrow or widen by the day. The growing chasm between the official and black market rates meant fewer euros are getting into the country, he said.

Jiang said the China-Africa Deep Economic and Trade Cooperation Pioneer Zone’s six centres would be built around three themes – innovation, economic and trade cooperation, and industrial chains – with a conference centre or meeting venue. By 2027, the zone is expected to be “a significant international platform for opening up and cooperation with Africa”, Hunan authorities said. And by 2035, the province aims to become a “globally competitive economic and trade hub for collaboration with Africa”. The African trade hub is part of Beijing’s plan to encourage economic growth in landlocked provinces . However, Hunan’s economic and trade cooperation with Africa has grown 23.1 per cent annually on average over the past three years.

In a decisive move aimed at overhauling the asylum process, the Swiss government has announced plans to expand a groundbreaking 24-hour fast-track procedure for North African asylum-seekers across all federal asylum centers. Authorities observed a tendency among some North African asylum-seekers to seek short-term accommodation, particularly over weekends, with no intention of following through the asylum process. The success of the Zurich pilot project offers a beacon of hope, but the road ahead demands vigilance, compassion, and adaptability. In summary, the Swiss government's decision to extend the 24-hour fast-track asylum procedure for North African asylum-seekers to all federal asylum centers marks a significant shift in migration management. Initiated by the promising results of a Zurich pilot project, this move aims to streamline the asylum process, ensuring quicker decisions.

Israel’s war on Gaza updates: Biden calls for ‘temporary ceasefire’ in GazaUS president says he made the case for truce in ‘extensive’ conversations with Israel’s Netanyahu over the last week.

Morocco was elected, on Thursday in Addis Ababa, to the African Space Agency (AfSA) Council at the 44th session of the Executive Council of the African Union. Amal Layachi, candidate from Morocco, won the position of member for the Northern Region on the AfSA Council with an impressive majority of 35 votes. Her unequivocal victory came in the midst of a tough competition, highlighting her expertise and vision for the future of African space cooperation, according to the Moroccan delegation. At a time when Africa is seeking to strengthen its presence in the space sector, this victory is of the utmost importance. in partnership with national institutions and international organizations, UNDP, FAO, ESA, UNESCO … and implemented up to today more than 200 training modules and awareness workshops for more than 3000 participants.

You have permission to edit this article.

This black market for foreign currencies is among the signs of the economic woes plaguing Algeria. In the oil-rich North African nation, business owners are rumored to be dumping their assets and scrounging up euros on the black market so their wealth isn't stuck. The government estimates roughly $7 billion worth of foreign currency trades hands on the country's black market. Traders are intimately aware that the gap between the official and black market exchange rate can narrow or widen by the day. The growing chasm between the official and black market rates meant fewer euros are getting into the country, he said.

Egypt and Senegal will be hoping for a much-improved showing in their next FIFA Beach Soccer World Cup fixtures over the weekend, after both nations got off to an uninspiring start to the tournament. On the tournament’s opening day on Thursday, Egypt were narrowly edged by the tournament hosts, United Arab Emirates (UAE) by a slim 2-1 result. On Friday, African champions Senegal faced Belarus who despite not getting much of the ball, where clinical as they managed a 6-4 victory over the African champions. Egypt will be back in action on Saturday against Italy, while Senegal will be looking at redeeming themselves the following day when they face Colombia. FIFA Beach Soccer World Cup fixture schedule for African Teams:Egypt Group A Fixtures:Saturday, 17 February11h30 GMT | Italy vs EgyptMonday, 19 February11h30 GMT | Egypt vs USASenegal Group C Fixtures:Sunday, 18 February15h30 GMT | Senegal vs ColombiaTuesday, 20 February15h30 GMT | Japan vs Senegal

African leaders were urged Saturday to step up and tackle the myriad conflicts and political crises blighting the continent of 1.4 billion people. Opening the African Union's two-day summit, AU Commission chief Moussa Faki Mahamat painted a "bleak picture" with a "litany of difficulties" confronting many countries. The Great Lakes region of central Africa was, he said, witnessing a worsening of its "eternal crises" fuelled by the conflict in the eastern Democratic Republic of Congo. "Africa cannot remain arms folded and not work to promote genuine peace in the region," Faki added. "Member states are looking inward, closely protecting their sovereign prerogatives rather than investing in collective security."

Egypt ‘preserves and protects’ E&P investors despite Gaza war, says Eni chief executiveClaudio Descalzi said Cairo continues to pay for gas, despite economic fallout of Israel-Hamas conflict

A hybrid energy project procured under the Risk Mitigation Independent Power Producers Procurement Programme (RMIPPPP) – Oya Energy Hybrid Energy Project – has reached financial close. Once functional, the Oya Energy Hybrid Project will provide crucial dispatchable energy to the South African grid. Oya Energy Hybrid Project – continent’s largest hybrid energy plantThe Oya Energy Hybrid Project, Africa’s largest hybrid energy project, is globally unique in technology mix, size, and cost-effectiveness. “The Oya Energy Hybrid Project demonstrates our expertise and ability to develop complex and efficient hybrid renewable energy projects in South Africa. Hybrid energy for decarbonisation and sustainabilityRomaya Dorasamy, Managing Director of Meadows Energy, said they too were thrilled about the project’s success.

It will focus on the rising altcoin ApeMax alongside notable mentions of Celestia, NEAR, Polygon, Tron, Beam, and Kaspa. At present, ApeMax has attracted more than 10,500 token holders and has sold approximately 10 billion tokens. NEAR Protocol (NEAR)The NEAR Protocol has established itself as a user-friendly platform for decentralized applications (DApps). Here are several factors that could make ApeMax an attractive option:With over 10,500 token holders and 10 billion already sold, ApeMax has demonstrated notable popularity. Final Thoughts on Top Altcoins to Buy NowDespite the inherent volatility of the crypto market, the current buzz around top altcoins like ApeMax, Celestia, NEAR, Polygon, Tron, Beam, and Kaspa highlights a growing interest among crypto enthusiasts.

In this report, Daily Trust Saturday captured a migration trend among northern youths who leave the shores of Nigeria in search of better living conditions in the Middle East and North Africa. This demand among northern youths to migrate to the Middle East is real, said Aliyu Ibrahim, who owns Alkiswa Hajj and Umrah Travel and Tours in Kano. But life in Qatar may not be as rosy as Ibrahim and many northern youths envisage. A Qatari-based Nigerian emigrant, Yusuf Isah said many youths from northern Nigeria had become stranded. This demand among northern youths to migrate to the Middle East is real, said Aliyu Ibrahim, who owns Alkiswa Hajj and Umrah Travel and Tours in Kano.

February 17, 2024 03:38 am | Updated 03:38 am IST - UNITED NATIONSThe Islamic State extremist group poses a rising threat amid political instability in West Africa and the Sahel and remains intent on carrying out attacks abroad, the U.N. counter-terrorism chief said on Thursday. Vladimir Voronkov reiterated UN findings that IS continues to pose a significant threat to international peace and security, especially in conflict zones, despite significant progress by UN member nations in countering the threat. The group has also increased operations in its former strongholds in Iraq and Syria as well as Southeast Asia, Mr. Voronkov said. Mr. Voronkov, who heads the UN Office of Counter-Terrorism, said countering the threat of terrorism in Africa remains a priority for his office. In Iraq, they are carrying out “a low-intensity insurgency with covert terrorist cells” while in Syria attacks have intensified since November, the experts said.

British Jews hiding symbols of faith for fear of being attackedThe war in Gaza is having impacts far beyond the Middle East. Sky News North of England correspondent, Shingi Mararike, spoke to Jews in Manchester, who have started hiding their faith over fears of being attacked amid a spike in antisemitism in Britain. Ben Katzav has been in Manchester for eight years. His pizza shop is on the corner of King's Road in Prestwich, an area lined with kosher delis and butcher shops, a short drive from a synagogue. His fear stems from a bomb threat last year made by an unknown caller.