Algeria Financial News

NEW DELHI : A failed bid by Algeria to join the Brics grouping has impacted a $1.5 billion oil and gas project between the country’s state-run Sonatrach and Indian conglomerate Larsen & Toubro Ltd, three people aware of the development said. Despite the engineering multinational in a favourable position to bag the contract, the award did not go through and the tender was cancelled.

Gabriel Attal as the new prime minister of the country. The 34-year-old Attal is not only the youngest prime minister of the country but is also the first-ever openly gay PM of France. Also Read: India invites French President Emmanuel Macron as Chief Guest for Republic Day 2024 celebrations He is known to be a rising star of French politics as he takes on the role after a bruising year for Macron who saw opposition in the country over pensions and immigration schemes.

container ships that typically transit the key maritime artery of the Red Sea and Suez Canal are rerouting after a multitude of attacks by Iran-backed Houthi militants. Combined with disruptions at a drought-stricken Panama Canal in the Western Hemisphere, the rise in merchant shipping rates poses headwinds for central bankers in their inflation fight. Meantime, the economy in Vietnam exceeded expectations this year and is poised for better results in 2024.

Hamas has been the focus of a relentless Israeli onslaught in Gaza but with resilient and diverse finances, it is expected to have a significant war chest at its disposal as the conflict drags on. Israel's Prime Minister Benjamin Netanyahu has vowed to annihilate the Palestinian Islamist movement behind the October 7 attack — the deadliest in the country's history.

Paul Lynch won this year's Booker Prize for his dystopian novel, Prophet Song. Set in the near-future, it is a novel of our times: a liberal democracy — in this case, Ireland — under authoritarian rule with law enforcement and the judiciary weaponised by far-reaching powers. But it is a particularly illuminating point made by Lynch in a TOI interview that merits more burrowing.

TortoiseEcofin Senior Portfolio Manager Robert Thummel discusses how China's economic woes could impact crude oil prices on «The Claman Countdown.»

By Laura Sanicola

Loco and Rooter, are expanding operations beyond the domestic market as they prepare to take on the likes of YouTube and Amazon’s Twitch in foreign territories, people aware of the developments said. Loco, which is backed by investors like South Korean gaming giant Krafton and Indian gaming-focused venture firm Lumikai, quietly started testing its Arabic app in multiple West Asian countries a few months ago and, according to its cofounder Anirudh Pandita, plans to expand into Latin American countries next.

Algerian President Abdelmadjid Tebboune has dismissed the prime minister and replaced him with the head of his cabinet ahead of national elections next year and at a time when economic anxieties are running high

The Times of Israel said, citing the claim made by Ehud Ya’ari, the Arab affairs analyst of Israeli news platform Channel 12. The proposal was shot down by Saudi Arabia, the UAE, Jordan, Egypt, Bahrain, Sudan, Morocco, Mauritania and Djibouti, Ya’ari reportedly said. Livemint could not independently verify the development.

On October 31, the Japanese government announced the freezing of assets belonging to nine individuals and one cryptocurrency trading company accused of financially aiding the Palestinian militant group Hamas, as per Kyodo News. This action comes amidst an ongoing conflict between Israel and Hamas, with other nations like the United States taking similar steps to curb the financial streams that fuel Hamas's activities.

Oil and gas companies have a large presence at international climate talks aimed at getting the world to sharply reduce emissions, which lead to climate change

innovative clean energy solutions, and their dedication has yielded a remarkable breakthrough: the utilization of solar panels in outer space. This pioneering approach carries the potential to revolutionize our access to sustainable energy, marking a pivotal moment in meeting our planet's energy demands. Pioneering research conducted by the Universities of Surrey and Swansea has proven the feasibility of crafting cost-effective, lightweight solar panels designed for energy generation in space.

In a decisive response to the recent terrorist attack on Israel, the US Department of the Treasury's Office of Foreign Assets Control (OFAC) designated ten individuals and entities linked to the Hamas terrorist organization. This action, aimed at crippling the financial structures supporting Hamas, encompasses individuals and operations not only in the Gaza Strip but extends to Sudan, Türkiye, Algeria, and Qatar.

Secretary of State Antony Blinken says new U.S. sanctions are “directed at Hamas terrorists and their support network," not at Palestinians

The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has imposed sanctions on a crypto exchange in Gaza that is involved in Hamas fundraising. 

Su 30MKI fighter jet fleet is set to be upgraded under a plan that will include completely new avionics, radars and electronic warfare suites. Close to 100 of the fighters are to be upgraded in the first tranche that will be conducted entirely in India. Sources said the upgrade plan is valued in excess of Rs 60,000 crore and will touch all aspects of the fighter jet except for its airframe and engines.

London | Europe is more likely to meet its potentially burgeoning demand for hydrogen via pipelines from nearby countries, not shipping from far-flung sources like Australia, a leading energy think tank has warned.

BIR REBAA, Algeria—Once-obscure corners of the energy world, from offshore Congo to Azerbaijan, are booming as Europe finds new sources of natural gas to replace the Russian supplies that once powered the continent. The shift is redrawing the world’s energy map at a rapid clip. In Bir Rebaa, deep in the Sahara, the Italian energy company Eni and Algeria’s state-owned energy company are drilling dozens of wells, producing gas from previously untapped fields in a matter of months.

Morocco after a devastating earthquake there. The money will go to aid organisations already active in the disaster zone, Foreign Minister Catherine Colonna told the BFM broadcaster. Colonna brushed off questions about the absence of any official Moroccan request for aid from France. Morocco is «sovereign» and «alone entitled to determine what its needs are», she said. Relations between France and Morocco are strained, notably because of French President Emmanuel Macron's efforts to forge closer ties with Algeria, Morocco's neighbour. A planned visit by Macron to Morocco has still to be confirmed, and Morocco's ambassador post in France has been empty for months. Asked why Morocco had accepted official aid from Spain and the United Kingdom among others, but not France, Colonna said «this debate is inappropriate». «People are suffering.

ALSO READ: Morocco Earthquake: ‘India ready to offer all possible assistance', says PM ModiVideos and pictures shared on social media showed mountains of rubble and dust clouds as walls gave way to the earthquake's intensity. In other posts, frightened locals could be seen fleeing into the street and out of nearby buildings in search of safety.