Search Site

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Algeria to help Cuba as energy shortages bite

The energy sector alone witnessed US$ 74.2 billion, or 37.3 percent growth. (File pic)
  • The announcement was made as Cuban President Miguel Diaz-Canel visited Africa's biggest gas exporter
  • Algeria will grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts

Algeria said Thursday it would restart energy supplies to Cuba and donate a solar plant to help the island tackle chronic power cuts.

The announcement was made as Cuban President Miguel Diaz-Canel visited Africa’s biggest gas exporter, the first stop on a tour that will also include Russia, Turkey and China.

Algeria will “grant Cuba a solar power plant and resume the supply of fuel to allow Cuba to restart power plants and stop the power cuts,” Algerian President Abdelmadjid Tebboune told reporters.

He also vowed to cancel interest payments on Cuban debt, without specifying figures.

Diaz-Canel said this was an “important” demonstration of support.

Since May, Cuba has been facing both frequent power cuts and fuel shortages.

Algeria and Cuba have had friendly relations for decades, with the first Cuban doctors dispatched to the North African country in 1963, just a year after its independence from France.

Diaz-Canel said he and Tebboune had a “convergence of views on international and regional issues of common interest”.