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Africa may face unsustainable debt: report

Africa may have a problem with unsustainable debt on its hands if it doesn’t manage to find other ways to finance development and cut off illicit financial flows, a new report from a United Nations trade body has said.

Deutsche Welle

German Bund yield drops to historic low

For the first time in modern German history, the yield of the country’s benchmark 10-year debt – also known as Bund – has fallen below zero percent as investors rush to safety ahead of Britain’s Brexit referendum

Deutsche Welle

Puerto Rico bargains after default

Puerto Rico has said it’s hoping to avoid some lawsuits against it after the US territory said it would not be able to pay back its debt. The government warned the money was needed to keep critical services functioning.

Deutsche Welle

IMF changing tack on Greece

Latin Americans and Asians are happy that they do not need the help of the International Monetary Fund (IMF). But, Europe can no longer function without it. What’s behind the IMF’s interest in Greece?

Deutsche Welle

Al-Sisi meets with BG’s CEO

Egypt’s President Abdel Fattah Al-Sisi met with Helge Lund, the Chief Executive Officer of British Gas (BG), to discuss the company’s current activities in Egypt and its plans to increase its investments. The meeting was also attended by Petroleum Minister Sherif Ismail, according to an official statement by the presidency. The BG executive congratulated the …

Sara Aggour

Egypt looking to mend economy with energy moves

  By Oxford Business Group Egypt has been making impressive progress in straightening up its balance sheet in recent months. Steep cuts in energy subsidies coupled with a drop in world oil prices have given the Middle East’s most populous country some fiscal breathing space, following three years of increasing budget deficits, mounting debt and …

Daily News Egypt

Dues owed to foreign oil and gas companies reach $6.3bn in July

Dues owed to foreign oil companies reached a total of $6.3bn this July, compared to $6bn at the end of April, according to Tareq Al-Mula, president of the Egypt General Petroleum Corporation (EGPC). The government will pay at least $1.5bn of these receivables to these foreign companies by the end of the year 2014, according …

Mohamed Adel