Government economic decisions, reforms, budgets, and fiscal policy
Oil prices rose at settlement to end the week with strong gains. Brent crude futures recorded an increase of 76 cents, or 0.8%, at settlement, reaching $92.68 per barrel. U.S. West Texas Intermediate futures ended trading up by 0.20%, recording $91.48 per barrel. Over the week, Brent crude rose by 7.6%, while U.S. crude increased by about 10%, as supply routes in the Middle East continued to be affected.
Road freight transport has become one of the blind spots of Algeria's economic transformation.
The OPEC+ alliance is set to maintain its oil production policy unchanged for October during its scheduled meeting on Sunday, according to three informed sources quoted by Reuters, as the alliance completes a rollback of part of the production cuts and shifts its focus to next year's production quota negotiations. The meeting comes amid ongoing repercussions of the war in Iran on oil exports through the Strait of Hormuz, and representatives from seven key OPEC+ countries will participate in Sunday’s meeting, namely Algeria, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, and Oman, which have raised their monthly production quotas throughout most of this year. View the full content on Echourouk Online.
The Minister, the High Commissioner for Digitalization, Mrs. Meryem Ben Mouloud, and the Minister of Internal Trade and Regulation of the National Market, Mrs. Amal Abdel Latif, chaired a meeting dedicated to establishing a unified digital mechanism for regulating the national market in the context of governance and digital inclusion, according to a statement from the commissioner today, Friday.
Oil prices fell slightly today, Friday, continuing to be affected by developments in international geopolitical situations. Brent crude from the North Sea for November delivery fell slightly by 0.40% to $95.14 per barrel. Meanwhile, its American counterpart, West Texas Intermediate for October delivery, decreased by 0.61% to $90.74 per barrel.
The Minister of Finance, Mohamed Lamine Lbough, oversaw the handover ceremony to Mohand Bouraï, who was appointed as the Governor of the Bank of Algeria, succeeding him. The handover ceremony took place at the headquarters of the Bank of Algeria, in the presence of the agency's officials. In his speech on the occasion, Mr. Lbough stated that 'the President of the Republic has tasked me with handing over the duties to Mr. Mohand Bouraï as Governor of the Bank of Algeria starting from today.'
Oil prices varied at settlement yesterday, Thursday. Brent crude futures fell by 11 cents, or 0.12 percent, to $95.52 per barrel. U.S. West Texas Intermediate futures rose by 29 cents, or 0.32 percent, to $91.30. Both crude types recorded their highest levels in six weeks earlier in the session.
Algeria - The Minister of Finance, Mohamed Lamine Lboud, today Thursday in Algiers, oversaw the handover ceremony to Mohand Bouraï, who was appointed as the Governor of the Bank of Algeria, succeeding him.
The General Manager of 'Saida', Younes Bouarara, conducted a work visit and inspection to the site of the paracetamol raw material production project in Batna province to assess the progress of its implementation.
Mohand Bouraï assumed his duties as the new Governor of the Algerian Central Bank on Thursday, September 3, succeeding Mohamed Lamine Labo, who was appointed Minister of Finance in the recent partial cabinet reshuffle. Finance Minister Mohamed Lamine Labo oversaw the inauguration ceremony of Bouraï in his new position as Governor of the Bank of Algeria. Read the full content on Echourouk Online.
Jijel - The Minister of Agriculture, Rural Development and Fisheries, Sid Ali Khaldi, confirmed today, Thursday, from the Jijel province, that all farmers affected by the recent fires in the province 'will be compensated for all losses regardless of their type.'
The Minister of Energy and Renewable Energies, Mourad Ajal, chaired a working meeting of the ministry's sectoral coordination committee, dedicated to discussing and following up on several priority files, particularly those related to launching the implementation and installation of off-grid solar energy units, and projects for establishing wind power plants, in addition to monitoring energy cooperation files with the Republic of Chad, the Republic of Benin, and the Republic of Niger, according to a statement from the ministry on Thursday.