🇩🇿AlgeriaNorth Africa
Oil prices fall as US and Iran sign memorandum of understanding
via Algérie3602 min read
Global energy markets saw a significant drop in crude oil prices on Thursday following the announcement of a memorandum of understanding between the United States and Iran. This agreement aims to de-escalate a long-standing conflict and immediately reconfigures the global oil supply landscape. The geopolitical risk premium decreased, causing benchmark indices to fall. Brent North Sea crude for August delivery dropped 1.91% to $78.03 per barrel, while US West Texas Intermediate WTI for July contracts fell 2.27% to $75.05 per barrel. This decline contrasts with the previous day's session, when prices temporarily rose after threatening statements from US President Donald Trump regarding military strikes. The memorandum of understanding includes 14 key provisions, establishing a 60-day period of talks during which Tehran commits to ensuring free and secure transit for ships in the Strait of Hormuz. The protocol also plans for a gradual restoration of merchant shipping in the Strait, aiming for full capacity within 30 days. Crucially, the agreement provides for the lifting of economic sanctions that had been stifling Iran's crude oil exports. The stabilization of the Strait of Hormuz, through which nearly a fifth of global oil consumption passes, combined with the official return of Iranian oil to the market, removes the risk of a global supply crisis. This development offers a welcome respite for the global economy by reducing speculation in anticipation of a more fluid and poten
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Must ReadAlgeria has inaugurated its first national unit for manufacturing monoclonal antibodies in Oran, led by Orion Lab. This facility, the second of its kind in Africa, marks Algeria's entry into high-precision biomedicine. The unit will produce monoclonal antibodies, which are laboratory-synthesized proteins designed to target cancer cells and other specific molecular or cellular targets, offering a more precise approach than conventional therapies. These therapies are applicable to various conditions, including breast, lung, and colon cancers, lymphomas, rheumatoid arthritis, Crohn's disease, and other inflammatory and infectious diseases. Previously, Algerian patients relied on expensive imported molecules for these treatments. Ouacim Kouidri, the Minister of Pharmaceutical Industry, emphasized that this project is an investment in public health, research, and innovation, aligning with President Abdelmadjid Tebboune's strategic directives and the National Cancer Control Plan. The initiative aims to improve patient care and develop domestic production of complex biological medicines, contributing to Algeria's health sovereignty. The project involves a strategic partnership between Orion Lab and an international laboratory, focusing on technology transfer and local expertise development in biological medicines.
New official statistics from the US Department of State indicate that over half of all US visa applications from Algerians were rejected in 2025. The overall refusal rate for B-type visas tourism and business for Algerians reached 51.23%. This figure places Algeria among countries with high rejection rates, similar to Kazakhstan 51.75% and Pakistan 52.32%. The data, which focuses on B1/B2 visas and only includes definitive rejections under Section 214b of the Immigration and Nationality Act, highlights a significant disparity compared to neighboring North African nations. Morocco and Tunisia recorded much lower refusal rates of 26.91% and 25.89% respectively. In contrast, countries like Monaco 0%, the United Arab Emirates 2.17%, and Japan 5.68% show very low rejection rates, attributed to rigorous application compliance and strong economic stability. Western European countries also maintain lower rates, with France at 9.67%, Germany at 12.22%, and the United Kingdom at 20.44%. China and India, despite high volumes of applications, keep their rates between 20% and 22%. The statistics also reveal tightening restrictions in parts of Africa and Asia, with Iran showing a 62.44% rejection rate. The high rate for Canada 53.10% is noted to primarily affect the immigrant population residing in Canada, rather than Canadian nationals, as US authorities often deem these foreign residents to lack sufficient guarantees of return.
Must ReadNoureddine Bitat, a 59-year-old Algerian taxi driver living in New York, was violently assaulted on June 11 in Manhattan by a crowd of New York Knicks fans celebrating their team's comeback. Around 12:30 AM, at the intersection of 36th Street and Seventh Avenue, individuals broke his taxi's windshield, forced open the doors, searched the trunk, and then pulled him from his seat by the neck, striking him in the head. The assailants chanted "Knicks in five!" during the attack. Bitat, who has been a taxi driver for nearly three years in New York, suffered severe medical consequences, including a diabetic crisis that led to hospitalization, persistent back pain, and vision problems. His glasses were destroyed, and the psychological trauma has made it impossible for him to resume driving. His family, including his wife and three children, still resides in Algeria, and his financial situation became critical after the incident. In response, the National Taxi Workers Alliance launched a GoFundMe campaign, raising $60,000, with support from rapper French Montana. Bitat expressed deep gratitude for the solidarity, stating it made him feel like he had another family in New York. At least one person has been arrested in connection with the assault, and 56 other individuals were apprehended that night for various offenses, including assaulting a police officer, illegal weapon possession, and property damage.