Officials from National bank of Egypt and Banque Misr said the banks have collected almost 100 billion Egyptian pounds ($6.37 billion) from a new high-yield savings certificate they introduced last month.

According to the state Middle East News Agency the one-year certificates, launched on March 22, carry a 15% yield.

The National Bank of Egypt had collected 66 billion pounds, its vice chairman said, and Banque Misr 30.6 billion pounds, its chairman said,

The certificates appear designed to bolster incomes while reducing inflation pressure and dollarisation following the coronavirus outbreak.

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Algeria’s Energy Minister Mohamed Arkab said OPEC member Algeria’s proven oil reserves are currently 1.34 million tonnes, or 10 billion barrels.

Arkab also told state radio that Algeria, a major gas supplier to Europe, had an estimated 2.36 billion cubic metres of proven natural gas reserves.

Algeria’s oil and gas output, the main source of state finances has been falling because of growing domestic consumption and a lack of foreign investment which reduced energy earning.

In a bid to reverse the trend, the government late last year approved an energy law offering attractive contract terms including tax incentives to foreign investors.

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The government of Algeria has temporarily scrapped customs duties and value added tax (VAT) on imports of pharmaceutical products and medical equipment to help cope with a growing number of infections with the novel coronavirus.

Algeria has been importing most of its medical products needs from China since the outbreak of virus, and the government has said it would spend $100 million on purchases of those products.

The authorities on Saturday decided to allow some businesses to reopen, a day after shortening curfew for several provinces including the capital Algiers.

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The Niger Delta Rights Advocate, has called on the Economic and Financial Crimes Commission to investigate over N5.4bn personal protection equipment and COVID-19 sensitisation contract awarded to a firm, Signora Concept Services Limited, by the Niger Delta Development Commission.

The group also sought for the probe of the circumstances leading to the award of the contract by the Interim Management of the Committee of the NDDC.

Spokesman for the NDRA, Darlington Nwauju, also said the commission would not be able to function efficiently if left under the control of the Niger Delta Ministry. The EFCC should also determine if this particular contract passed through standard procurement benchmark.

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The U.S. Congress is headed back to its normal state of conflict, with leading Republicans lining up against aid for cities and states that Democrats say is essential after passing $3 trillion of coronavirus relief in a rare seven-week run of bipartisanship,

Democrats have put out the word that they want to provide a sizeable rescue package as part of a broader bill - one that could total at least $2 trillion in coming weeks Spurred on by governors and local officials, as they are spurred on by governors and local officials.

Some governors called it a recipe for collapsing the U.S. economy if Congress allowed states such as Michigan and Illinois to declare bankruptcy.

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Shale oil in North Dakota has halted most of its production in the U.S. state and notified some customers it would not supply crude after prices dived into negative territory this week

Continental Resources Inc (CLR.N), the company controlled by billionaire Harold Hamm, stopped all drilling and shut in most of its wells in the state’s Bakken shale field, as sources familiar with production in the state said on Thursday.

Global oil prices have plunged because of excess supplies and tumbling demand due to the coronavirus crisis.

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The head of the United Auto Workers union on Thursday said it was early and risky to reopen auto plants and Michigan’s economy in early May, citing insufficient scientific data and coronavirus testing to assure workplaces are safe.

The warning from UAW President Rory Gamble on Thursday afternoon came as General Motors Co (GM.N) , Ford Motor Co (F.N) and Toyota Motor Corp (7203.T) took new steps toward reopening North American vehicle manufacturing operations in an environment where consumer demand is uncertain and worker safety paramount.

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Online retailer Amazon who was accused of killing off bricks-and-mortar book sales, has stunned the industry by donating £250,000 to a fund in aid of bookshops hit by coronavirus.

The Book Trade Charity said the tech giant initially made the donation secretly however as speculation grew, the charity revealed that Amazon was the donor.

Chief executive David Hicks said he realised some booksellers would find that difficult. He said that the Book Trade Charity existed to help the entire book industry, from publishers to bookshops.

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The US Congress has passed a new Covid-19 relief package totaling $484bn (£391bn), the fourth aid bill to clear Congress in response to the pandemic.

The legislation, approved 388-5 by the House of Representatives, tops up a small business aid fund, while funding hospitals and testing.

President Donald Trump said he would endorse the bill, which passed the Senate unanimously on Tuesday.

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AFP correspondents on Thursday noticed on going work on Qatar’s World Cup stadiums and mega-projects linked to the tournament despite tough social distancing rules to curb the spread of coronavirus.

Dozens of labourers with covered faces and sporting near-identical blue overalls clamored across the vast exoskeleton of Lusail Stadium, an arena set to host the final of the 2022 tournament which foes against social distancing.

The number of confirmed infections among those involved in construction for 2022 facilities stands at eight across three stadium projects, but organisers have not given an updated toll since Friday.

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