INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Algeria severs diplomatic ties with Morocco

  • Algeria blamed the Moroccan support for one of the groups which seeks autonomy in Algeria's Kabylie region
  • Historically, the relations between North African neighbours have been strained

The Algerian government says it is cutting ties with Morocco because of “hostile actions”, Foreign Minister Ramdane Lamamra told a news conference on Tuesday.

Since 1994, Algeria’s border with Morocco has been closed due to the Western Sahara issue, which has strained relations between the two countries for decades.

“The Moroccan kingdom has never stopped its hostile actions against Algeria,” he said, quoted by Reuters.

Lamamra  added that the cutting of diplomatic relations would be effective from Tuesday but consulates in each country will remain open.

He blamed the Moroccan support for one of the groups which seeks autonomy in Algeria’s Kabylie region adding  that Rabat had failed to meet bilateral obligations including over Western Sahara.

Algeria supports the Polisario movement that seeks independence for Western Sahara, which Morocco regards as  its integral part.