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Algeria prepares new investment law, aims for non-energy funding sources

Algeria prepares new investment law, aims for non-energy funding sources

HAMID OULD AHMED ALGERIA is preparing a new investment law to improve its business climate and attract foreign investors with the aim of boosting the non-energy sector, according to Prime Minister Ayman Benabderrahmane. He also announced plans to develop the country's small stock exchange and launch banking and financial reforms to find new funding sources for the oil-reliant economy. OPEC member Algeria, which relies heavily on oil and gas exports, has been facing financial problems due to lower energy earnings. The situation worsened during the pandemic, which slammed crude demand and pressured international prices. The North African country has so…
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Algerian prime minister infected with COVID-19

Algerian prime minister infected with COVID-19

NEWLY-appointed Algerian Prime Minister Ayman Benabderrahmane is infected with COVID-19, according to the Algerian state TV. The prime minister, who had just formed his new government on Wednesday, will quarantine for seven days, but will continue performing his duties virtually, state TV said. President Abdelmadjid Tebboune ordered his government to reimpose physical distancing and mask-wearing measures across the country on Saturday, as well as to speed up a vaccination drive to cope with a surge in infection cases, it said. The North African country has so far reported 145,296 confirmed cases of coronavirus including 3,824 deaths.
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