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Sonatrach corruption scandals drag Yousefi to Parliament

(Last modification: 18/06/2013 at 00:14)

“Sonelgaz financial scandal smears CEO Bouterfa, other senior managers of the Group”

An Examining Magistrate of the Court of Algiers has summoned the General Manager of the National Gas and Electricity company Sonelgaz, NourredineBouterfa as well as the Group’s Secretary General and the Managers in charge of human resources and finance in addition to some other senior executives to provide explanations and...

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Report: Algerian officials smuggle corruption money to British Virgin Islands and Singapore

Algerians who own banking accounts and firms resulted from corruption managed to hide their suspicious wealth, according to the International Consortium of Investigative Journalists....

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Algeria Bank forbids Algerians from investing abroad

Algerian banks liquidity was not used in an appropriate way to fund investments and enable the country to diversify its economy as hydrocarbons constitute 98.7 percent of its hard currency incomes, according to a report released by the Bank of Algeria....

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Financial shock hit Algeria in 2013

Governor of the Bank of Algeria Mohamed Laksaci said Algeria was hit by an external shock during the first quarter of 2013 due to fall of hydrocarbons exports income....

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Doubts about investments worth $ 42 billion in Sonatrach

Sonatrach failed to stop the pace of decline in oil and gas production in Algeria, which has turned since 2007 to a reality from year to year despite that Chakib Khelil and Mohamed Meziane adopted a unique investment strategy in the energy industry in the world....

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