Algeria News
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Official results from Algeria’s elections showed President Abdelaziz Bouteflika’s National Liberation Front and its allies won a majority in a vote that sparked accusations of fraud by Islamists, who came third.
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VimpelCom Ltd., the world’s sixth- largest wireless operator by subscribers, said first-quarter profit dropped 36 percent as competition made its Russian business less profitable.
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Industries Qatar QSC’s steel unit plans to invest in a new plant in Algeria that will start operating after 2016, according to a five-year plan released by the company yesterday.
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Orascom Telecom Holding SAE, North Africa’s biggest mobile phone company, said its first-quarter profit fell 86 percent from a year earlier because of the gain it had realized from the sale of its Tunisian unit.
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Saudi Arabia is seeking investors for a $109 billion plan to create a solar industry that generates a third of the nation’s electricity by 2032, according to officials at the agency developing the plan.
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France’s farm and food exports, the world’s fifth-biggest by value, declined for a second month in March, slipping 3.6 percent as grain shipments dropped.
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Algeria’s parliamentary elections drew 44.4 percent by the time polls closed at 8 p.m., Interior Minister Daho Ouled Kablia said in comments aired on state television last night.
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OPEC boosted crude production for a seventh month in April as Iraq, Nigeria and Libya raised output, according to the International Energy Agency.
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The amount of sugar waiting to be loaded at ports in Brazil, the world’s largest producer, climbed by 19 percent over the past week, with Malaysia and Algeria buying, according to Williams Servicos Maritimos Ltda.
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Grain exports from the French port of Rouen, Europe’s biggest cereal-shipping hub, dropped 42 percent in the latest week as wheat shipments to Algeria declined.
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