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Egypt Introduces Price Index For Fuel To Revive Economy

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Egypt Creates New Gasoline Price To Revive Economy

Egypt has created a new 95-octane gasoline automatic price index mechanism as part of a reform programme geared towards reviving the economy.  The move is aiming to link gasoline prices to global oil prices.

READ:  Egypt And Ethiopia To Hold Bilateral Talks

Oil ministry spokesperson Hamdy Abdel-Aziz says the new mechanism will start in April and that 92-octane and 80-octane gasoline will not be affected. The government says, technical committee will be established to review the pricing mechanism every three months.

READ:  Egypt Central Bank Signs $3.8Bn Finance Accord With International Banks

This is one of the latest economic reform program aimed at qualifying for a $12 billion bailout loan from the IMF, which Egypt secured in 2016.

READ:  Former Zimbabwe First Lady's Grave 'Abandoned' As Mugabes 'Snub Heroes Day Celebrations' – Report

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African News

Omar Daf Extends Contract With Sochaux

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Sochaux Coach, Daf Extends Contract With Club

Forty one year-old former Senegal international defender Omar Daf has extended his contact as coach of French club Sochaux until June 2021.

Daf was appointed coach of the second division side last November.

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The former French champions are currently just two points above the relegation zone in Ligue 2 with 17 games left this season.

Earlier this week Sochaux signed former Liverpool and Mali midfielder, Momo Sissoko.

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Daf played 14 seasons for Sochaux across two spells, previously coached the club in an interim capacity in 2013 and 2015.

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African News

France Extradites CAR Football Official Wanted By ICC

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France Extradites CAR Football Official Wanted By ICC

France has extradited to the Hague, a senior Central African Republic football official wanted by the International Criminal Court (ICC) for war crimes committed in the C.A.R.

READ:  Egypt Extends State Of Emergency For Another 3 Months

A committee member of the Confederation of African Football  Patrice-Edouard Ngaïssona, was arrested in Paris last month for coordinating attacks on Muslims in his country. He has denied the allegations.

READ:  Egypt's Foreign Debt Climbs More Than 10% In Under A Year

Patrice had declared himself political co-ordinator of the Christian anti-Balaka militia. The group has been blamed for hundreds of killings.  The ICC says Patrice was responsible for murder, torture and the recruitment of child soldiers.

READ:  Egypt, US Special Forces Hold Drills On Combating Terrorism

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African News

Ethiopia Arrests Former Minister Over Corruption Allegations

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Ethiopia Arrests Former Minister For Corruption Allegations

Ethiopian Former Minister, Bereket Simon has been arrested at his residence on suspicion of mismanagement of public funds.

Simon was a former Communication Minister, and was also a former head of a regional public investment fund. Simon was a member of Ethiopian Peoples Revolutionary Democratic Front (EPRDF).

Zigale Gebeyehu, head of the regional anti-corruption bureau told local journalists that Bereket was detained on suspicion of corruption and now held in police custody in Bahir Dar city, the capital of the region.

Also arrested was a former civil servant, Tadesse Kassa, who was also a former board member of TIRET.

Prime Minister Abiy Ahmed has been pursuing a nationwide crackdown on graft in the public sector since taking office last year

READ:  Forces From Egypt, 5 Other Arab Nations To Start Joint Drill
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