Occidental Announces Fourth Quarter 2023 Results
OccidentalHOUSTON, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Occidental (NYSE: OXY) today announced its fourth quarter 2023 financial results. The earnings release and accompanying financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company will hold a conference call to discuss the results on Thursday, February 15, 2024, at 1 p.m. Eastern/12 p.m. Central. Our Oxy Low Carbon Ventures subsidiary is advancing leading-edge technologies and business solutions that economically grow our business while reducing emissions.
Source:The North Africa Journal
February 15, 2024 00:34 UTC
Visa Collaborates with Egyptian Banks Company to Streamline Cross-Border Payments
ShareVisa has collaborated with the Egyptian Banks Company (EBC) to simplify and enhance the international remittance process for Egyptians residing overseas. This partnership aligns with the strategic goals of the Egyptian government and the Central Bank of Egypt (CBE) to promote and facilitate remittances from Egyptians working overseas. The EBC, as the technological arm of the Central Bank of Egypt (CBE), plays a crucial role in managing and enhancing various domestic payment ecosystems in Egypt. These consequences include credit card suspension and being listed on a platform managed by the Egyptian Credit Bureau. According to the World Bank, Egypt is currently ranked fifth among the largest recipients of remittances worldwide.
Source:The North Africa Journal
February 14, 2024 21:21 UTC
Last Chance to See Africa & Byzantium, Closing at The Met on March 3
On view through March 3, 2024, Africa & Byzantium sheds light on an underrepresented area of art history. Even though Byzantium was a vast empire that spanned parts of Africa, Europe, and Asia, its extensive connections to Africa have previously been understudied. Faith, politics, and commerce across land and sea linked these traditions to Byzantium, resulting in a lively interchange of arts and beliefs. “Through spectacular and widely unknown works of art, Africa & Byzantium illuminates the development, continuity, and adaptation of Byzantine art and culture in North Africa and the Horn of Africa, recentering African artistic contributions to the pre-modern period.”Andrea Achi, Mary and Michael Jaharis Associate Curator of Byzantine Art at The Met, said: “Africa & Byzantium builds upon the long legacy of The Met’s award-winning Byzantine exhibitions. Credits and Related ContentAfrica & Byzantium is organized by Andrea Achi, Mary and Michael Jaharis Associate Curator of Byzantine Art, Department of Medieval Art and The Cloisters at The Met.
Source:The North Africa Journal
February 14, 2024 16:36 UTC
IMF to Nigeria: Phase out ‘costly’ fuel and electricity subsidies
The Nigerian government should scrap fuel and electricity subsidies, the International Monetary Fund (IMF) has prescribed. “Fuel and electricity subsidies are costly, do not reach those that most need government support and should be phased out completely.”The Nigerian government confirmed last month that it will pay N1.6 trillion (nearly $1.1 billion) to subsidise electricity in 2024. “Immediately, it adopted two policy reforms that its predecessors had shied away from: fuel subsidy removal and the unification of the official exchange rates. “Between late May and June, only a few weeks after he was sworn in, President Tinubu decided to remove the governor of the CBN, devalue the local currency to a level closer to its fair value and phase out the country’s costly fuel subsidies. Of interestNigeria: Scrapping fuel subsidy will spur e-mobility market – report“Faced with the possibility of growing inflation and nationwide protests, a covert petrol subsidy was reintroduced.
Source:The North Africa Journal
February 14, 2024 16:11 UTC
This Modern Indian Restaurant Is The Second Best In Middle East And North Africa For 2024
Tresind Studio is the second best restaurant in Dubai (Photo Credit: theworlds50best.com)The prestigious list of the 50 Best Restaurants in the Middle East and North Africa for 2024 has been announced. Dishes within the menu are grouped into areas of the subcontinent," explains the official site of the World's 50 Best Awards. Tresind Studio was ranked 2nd among the 50 Best Restaurants in the Middle East and North Africa in 2023 as well. The same year, it was placed 11th in the list of the World's 50 Best Restaurants. Here Are The 50 Best Restaurants in the Middle East and North Africa for 2024:
Source:The North Africa Journal
February 14, 2024 15:58 UTC
Ghanaian tech talent startup Remoteli raises $315k funding from footballer Jeremie Frimpong
Ghanaian tech talent startup Remoteli has raised US$315,000 in funding from Dutch professional footballer Jeremie Frimpong, aimed at supporting its work in revolutionising the African employment landscape. Launched in 2020, Remoteli is a technology-driven platform that specialises in connecting talented professionals from Africa with innovative companies seeking to build diverse and highly skilled remote workforces. His US$315,000 investment in the startup is designed to speed its expansion and increase its impact. “These collaborations have enabled us to tap into existing networks, promote digital literacy, and create job opportunities for a diverse talent pool,” said Remoteli CEO Samuel Brooksworth. Frimpong is not the only well-known professional footballer making investments into African tech startups.
Source:The North Africa Journal
February 14, 2024 15:55 UTC
African rail overhaul could boost trade, cut costs: Report
Public Management(Ecofin Agency) - In a bid to boost free trade under the implementation of the African Continental Free Trade Area (AfCFTA), several models have been proposed to revamp the railway system. In Late December, South African trade research group Tralac issued a report proposing cheaper alternatives to rebuilding Africa’s outdated rail, potentially easing trade bottlenecks and speeding up continental trade. Furthermore, 16 countries on the continent still do not have railways, according to another report by the International Union of Railways (published in 2018). The report proposes a plan to construct the missing links for better meshing to achieve a continental-type rail system. According to estimates by AGL, cited by the African Development Bank in its report “Rail Infrastructure in Africa Financing Policy Options”, a complete reconstruction would require an investment of over $100 billion.
Source:The North Africa Journal
February 14, 2024 15:27 UTC
Pan-African payment system signs up Tunisian central bank
This Privacy Policy applies to all websites operated by Exporta Publishing & Events Ltd (as indicated on the relevant website). Data protection lawThe Data Protection Act 1998 described how organisations – including Exporta Publishing & Events Ltd – must collect, handle and store personal information. To comply with the law, personal information collected must be stored safely, not disclosed unlawfully and used fairly. Selecting not to receive means that certain personalised services Exporta Publishing & Events Ltd offers cannot then be provided to that user. The board of directors is ultimately responsible for ensuring that Exporta Publishing & Events Ltd meets its legal obligations.
Source:The North Africa Journal
February 14, 2024 15:10 UTC
Wagner Group is now Africa Corps. What this means for Russia’s operations on the continent
In August 2023, Wagner Group leader Yevgeny Prigozhin died after his private jet crashed about an hour after taking off in Moscow. He had been Russia’s pointman in Africa since the Wagner Group began operating on the continent in 2017. What is the current status of the Wagner Group? Recent reports on the Wagner Group suggest a transformation is underway. But will the Wagner Group under new leadership uphold the distinctive modus operandi that propelled it to infamy during Prigozhin’s reign?
Source:The North Africa Journal
February 14, 2024 14:26 UTC
PAPSS expands into North Africa as Central Bank of Tunisia becomes 13th member
The Pan African Payment and Settlement System (PAPSS) has announced the entry of Banque Centrale de Tunisie (BCT) into its network as its thirteenth central bank member. By uniting central banks from across Africa, PAPSS seeks to address the existing challenges faced by African businesses and individuals in accessing efficient and cost-effective cross-border payment services. The Chief Executive Officer of PAPSS, Mr. Mike Ogbalu III, echoed Dr. Elombi’s sentiments, emphasising the significance of Banque Centrale de Tunisie joining PAPSS. According to him, they are happy to welcome Banque Centrale de Tunisie as the thirteenth member and first central bank in North Africa. Additionally, it is anticipated that more central banks will join the platform throughout the current year.
Source:The North Africa Journal
February 14, 2024 13:05 UTC
Morocco Ranks 30th in Global Entrepreneurship Monitor National Entrepreneurial Context Index – The North Africa Post
Morocco ranked 30th in the Global Entrepreneurship Monitor (GEM) National Entrepreneurial Context Index (NECI), according to GEM 2023/2024 Global Report launched Tuesday at Hassan II University of Casablanca. The GEM report cites the major programs launched by the Moroccan government to help entrepreneurs and unemployed young people in Morocco. The Global Report launch at the Hassan II University took place in the presence of GEM National Teams from the world and dignitaries in Morocco. In addition to the report launch event, GEM Morocco also hosted a Research Seminar Feb.12 under the theme “Sustainability & Social Entrepreneurship”. The GEM 2023/2024 Global report calls on policymakers and all stakeholders to take action to improve entrepreneurial education worldwide.
Source:The North Africa Journal
February 14, 2024 11:42 UTC
Algeria’s impolitic military ruler to the rescue of a diplomacy in disarray – The North Africa Post
Chengriha, who pulls the strings of the Algerian government and foreign policy, has been waiting since February 3 to meet Saudi leader Mohamad Bin Salman in vain. Old Chengriha attended a defense show and met the young Saudi defense minister, 42 years younger than him. The Saudi Crown Prince had ordered that all Saudi administrations should use the full map of Morocco including its Sahara territories. The return of Chengriha without meeting Crown Prince Bin Salman would reflect the status of “new Algeria” as a country whose leadership is increasingly shunned by great powers and regional players. These are all indicators of a military-run diplomacy that reaped a series of set-backs in defense of an Algerian-created chimera of having a separatist entity in Morocco’s Sahara.
Source:The North Africa Journal
February 14, 2024 11:42 UTC
Mastercard Names Folasade Femi-Lawal West Africa Country Manager
Mastercard, a company in digital payments and technology, is pleased to announce the appointment of Folasade Femi-Lawal as the new Country Manager and Area Business Head for West Africa. With a robust background in digital payments, she played instrumental roles in driving innovation and enhancing customer experiences across the banking sector. Her vast experience across the digital payments ecosystem will be a huge asset to the Mastercard business in West Africa. She arrives at a pivotal time when digital innovation is transforming the country’s payments landscape, moving Nigeria toward a cashless society. Folasade holds a wealth of accolades, including being honored with the Outstanding Women in Management award by the United Nations Association in Nigeria and named one of the Top 50 Women in Management Africa by Women in Management Africa.
Source:The North Africa Journal
February 14, 2024 11:35 UTC
Connecting the dots between Morocco and the south of Europe
In light of shifting sourcing decisions, Morocco, situated on the periphery of the EU, is being considered as an alternative sourcing location by 4% of European companies. In this article, we dive into details of the opportunities that Morocco presents for European businesses, as well as most recent developments that facilitate these opportunities. The missing link for growthIn the landscape of global trade, Morocco is on the way to become a strategic hub of North Africa, currently holding the 5th position among African countries by GDP in 2022. While Morocco represents only 1% of the EU’s total trade in goods, 56% of the country’s exports find their destination within the EU. The diversity of goods exported ranges from manufactures to agricultural products and fuels, making Morocco a potential sourcing destination for multiple European industries seeking cost-effective partners closer to home.
Source:The North Africa Journal
February 14, 2024 11:10 UTC
ANALYSIS | Europe courts green hydrogen supply from North Africa, but when can the region deliver?
North Africa has been proposed as a potential hub for green hydrogen production, drawing on strong wind and solar resources, plenty of available land, and existing gas export pipelines to Europe. Stay ahead on hydrogen with our free newsletter Keep up with the latest developments in the international hydrogen industry with the free Accelerate Hydrogen newsletter. EgyptDuring its time as the host of COP27 in November 2022, Egypt announced big plans for green hydrogen production, particularly within its Suez Canal Economic Zone. Morocco has already proposed a massive 5,600km hydrogen pipeline linking 11 West African countries, including Mauritania, which would run in parallel to the planned $25bn Nigeria-Morocco natural-gas pipeline. MauritaniaMauritania, which has a GDP of around $10bn, has seen major promises from the EU when it comes to its potential green hydrogen and derivatives.
Source:The North Africa Journal
February 14, 2024 11:09 UTC