+ Reply to Thread
Page 2 of 9 FirstFirst 1 2 3 4 ... LastLast
Results 8 to 14 of 61
  1. #8
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0

  2. #9
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0

    Spain approves remission of Algerian debt

    Madrid, April 23 (NNN-APS) The Spanish government has approved a remission for a maximum amount of €20.5 million and 11.3 million USD of the Algerian debt to Spain resulting from the credits of the Fund for Aid to Development.

    This remission approved here last Friday is part of the programme of conversion of debt into pubic investments, signed by both countries in June 2006, according to a Spanish government statement issued after the council of ministers' meeting.

    This programme is aimed at promoting the economic relations between Spain and Algeria and to enhance Spanish companies' exports, the statement underlined.

    "Algeria is carrying out an important plan of public investment in the framework of the transition from a centralized planning economy to a market economy,” the statement said.

    “The structural reforms was advanced through actions like the privatization of a part of the financial sector, the signing of partnership agreements with the European Union and negotiation over the integration to the World Trade Organization," it added.


  3. #10
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0

    Spanish economy minister to visit Algeria

    May 9, 2007 -- Spanish Economy and Finance Minister Pedro Solbes is scheduled to arrive in Algeria on Wednesday for an official working visit, according to a statement issued by Algerian Finance Ministry on Tuesday.

    During his visit to the country, Solbes is expected to co-preside together with his Algerian counterpart Mourad Medelci a joint working session, according to the statement.

    Algeria is an important trading partner of Spain, notably in the field of energy. The volume of trading between the two countries rose from 1.5 billion euros (2 billion U.S. dollars) in the middle of the 1990s to reach some 5.5 billion euros (7.4 billion U.S. dollars) in 2006.

    In the first quarter of 2007, Spain imported 1.3 billion U.S. dollars worth of products from Algeria, mostly hydrocarbons, becoming the third placed client for Algeria during this period.


  4. #11
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0
    May 10, 2007 -- Algerian Prime Minister Abdelaziz Belkhadem on Wednesday held discussions with visiting Spanish economy and finance minister Pedro Solbes, according to the Algerian News Agency.

    Solbes arrived in Algiers Wednesday morning and later presided over a bilateral meeting between the two countries jointly with Algerian finance minister Mourad Medelci.

    At the end of the meeting, the two sides signed an agreement converting Algeria's debt owed to Spain to investment funds for certain Spanish projects in Algeria.

    Algeria is an important trading partner to Spain, notably in the field of energy. The volume of trade between the two countries rose from 1.5 billion euros (2 billion U.S. dollars) in the middle of the 1990s to reach about 5.5 billion euros (7.4 billion U.S. dollars) in 2006.

    In the first quarter of 2007, Spain imported 1.3 billion U.S. dollars worth of products from Algeria, mostly hydrocarbons, becoming the third largest client for Algeria during this period.


  5. #12
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0

    Growing interest among Spanish enterprises in Algerian market

    June 2, 2007 -- According to a report issued by the Spanish government in Madrid, the interest of Spanish enterprises in the buoyant Algerian market is increasing by leaps and bounds.

    In a press release issued after a council of ministers' meeting in Madrid, the Spanish government said that the attractiveness of the Algerian market had further increased, notably after the endorsement in Algeria of the support program to economic revival for the 2005-2009 period.

    The Algerian Ambassador to Madrid, Mr Mohamed Haneche, said during a recent encounter with Spanish investors and business leaders that the support for economic revival program offered the Spanish companies major investment and partnership opportunities in the sectors of infrastructure, construction, small and medium-sized enterprises, tourism, agriculture, transport and fisheries.


  6. #13
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0

    Spain's Agbar wins Algerian contract

    MADRID, June 19, 2007 (Thomson Financial) - Sociedad General de Aguas de Barcelona SA said it has won a five-and-a-half-year water purification, management and supply contract in Algeria, but did not disclose any financial details.

    In a statement, Agbar said the contract is in Oran in the northwest of Algeria.

    The contract is the Catalonian utility's first in the African continent.


  7. #14
    Guest 123 is offline Registered User
    Join Date
    Jan 2006
    Posts
    0
    June 29, 2007 -- The Chairman of the Agbar Group describes the takeover bid made by “la Caixa” and Suez as “good news” during his intervention in the General Meeting of Shareholders.

    Agbar‘s board of directors has declared Applus+ to be available for sale so as to favour the capacity to invest in the Group’s core activities, water and health.

    - The General Meeting approved the 2006 results, which represent a recurrent net profit of 139.3 million euros (12.5% more than in 2005).

    - The Meeting agreed on a total dividend of 67.4 million euros, with a 4.6% increase in the dividend per share in relation to 2005.

    - The future investments will be centred on the water business, in regulated markets, with legal guarantees and stable frameworks, and on the health division.

    - In the health sphere, the objective is for Adeslas to strengthen its leadership in medical insurance and to acquire an even more important position in hospital management.

    - The Agbar Group will invest 13 million euros in RDI in 2007 to develop 85 projects and be a leading company in water technologies.

    This morning, in the course of the Ordinary General Meeting, the Agbar Group Chairman, Jordi Mercader, stated that the presentation of a takeover bid by “la Caixa” and Suez, reference shareholders of the company, is “good news because it provides stability in an increasingly complex and volatile environment”. Mercader specified that the board of directors of Agbar will make a statement on the specific characteristics of the takeover bid when it has been accepted by the regulatory authorities.

    The Chairman of the Group interpreted the decision of the two reference shareholders “as a gesture of trust in Aguas de Barcelona and in its future, and as a commitment to water, which has always been the Group’s core business”.

    Mercader moreover confirmed that Agbar’s board of directors considers Applus+ to be available for sale. The Chairman of the Group declared that this decision will allow important investments to be made, especially in the sphere of water.

    As regards the future investments of the Agbar Group, Jordi Mercader underlined the need to “give priority to the regulated markets, avoid the risks associated with not very well defined legal or political environments and seek new markets which allow it to develop what Aguas de Barcelona knows how to do: manage, innovate, anticipate”.

    According to Mercader, positioning the water cycle as the centre of the Group’s activity means “being leaders in the technologies associated with water and in the definition of the appropriate management models to confront future challenges”.

    In this respect, he highlighted the creation of the Water Technology Centre (Cetaqua), in collaboration with the Universitat Politècnica de Catalunya (UPC) and the Spanish National Research Council (CSIC). Mercader specified that the Agbar Group will invest 13 million euros to promote 85 RDI projects in the sphere of water.

    Strengthen the leadership

    The Chairman of Agbar stated that the objectives of the Group’s health division, led by Adeslas, are to “strengthen the leadership in medical insurance and to acquire an even more important position in hospital management”. He showed his trust in the capacity for growth of Adeslas, thanks to its sound financial structure, and he announced that, during 2007, the Agbar Group will explore investment possibilities in this sphere.

    The Agbar Group’s General Manager, Angel Simón, presented the year’s results, which he described as positive, with operating revenues of 3,121 million euros, 13.6% more than the previous year. Simón underlined that the growth occurred in all the sectors, and in particular in water, which represents 45.6% of the Group’s revenues, 17.2% more than in 2005.

    Angel Simón stressed that this positive trend was maintained during the first quarter of 2007, in which the Agbar Group obtained a profit of 45.8 million euros. During this period, the operating revenues increased from 727.1 to 837.1 million euros (+15.1%); the operating cash flow from 142.4 to 156.8 million euros (+10.1%), and the operating result from 93 to 102.6 million euros (+10.3%).

    As regards the future international expansion, the General Manager stated that “Agbar is a solvent group, which has learned to conduct itself in different markets, and which is prepared to add an increasingly important environmental dimension to the management of the complete water cycle”. Simón underlined the significance of having obtained the water management contract of Oran (Algeria), which represents “the first initiative of the Agbar Group in the Arabic world”.

    The board of directors has agreed to go from 13 to 12 members, as a result of the departure of Juan Abelló, who declared his commitment to take part in the takeover bid with his 6.65% block of shares. The board re-elected the director Joan Rosell, whose term of office was ending, as an independent director.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts