Latest news with #DZD
El Chorouk
16-07-2025
- Automotive
- El Chorouk
An Expected Decline in the Prices of Imported Used Cars
The market for new and used cars imported from abroad is experiencing an intense anticipation, awaiting the implementation of a new mechanism for calculating customs duties by Algerian customs authorities. This mechanism relies on the adoption of purchase invoices from the importing country rather than European reference prices. This measure is likely to cause an 'aftershock' in prices, according to observers and experts in the field. As is well known, the General Directorate of Customs adopted a price reference list for European cars and those originating from outside Europe, such as China. This will be the basis for calculating customs duties applied to both new and used imported vehicles, due to the presence of similar models from European brands manufactured in China, which naturally entail significant price differences. Observers confirm that the new measure will automatically significantly reduce customs duties imposed on imported cars, especially those from China, whose prices are significantly lower than their European counterparts. This will open the door to a significant decline in the prices of these vehicles in the Algerian market and provide citizens with a greater opportunity to purchase cars at reasonable prices. In this context, automotive journalist Nabil Meghiref believes that while the new measures are pending confirmation and actual implementation, they are good news for Algerian citizens intending to purchase a new or used car. Nabil told Echorouk that the new measure allows for a review of the effects of customs duties on cars imported from all countries around the world. However, the real benefits accrue to cars coming from China, given their very low prices compared to their European counterparts, despite bearing the same international brands. Meghrif explained that most international companies have factories in China that produce the same models intended for the European market, but at much lower prices, which will directly impact the purchasing power of Algerian citizens. 'The measure was adopted by competent bodies of the Algerian state and is part of a well-thought-out economic approach aimed at relieving pressure on citizens without affecting the public treasury. Imports, whether direct or individual, are a temporary solution until manufacturing projects are implemented,' he added. Meghiref asserted that 'according to a study we conducted, the price of a car when imported from China, after taking into account all transportation costs and fees, arrives at the port of Algiers at a price almost identical to that offered by dealers, or perhaps even lower. This is a positive indicator of the effectiveness of the new mechanism.' Citing a concrete example of the Skoda Karoq, which was previously subject to customs duties of up to DZD 66774337.40 (180 million centimes) as a new vehicle. Under the new mechanism, the duty has now been reduced to only DZD 40064602,44 (108 million centimes), representing a reduction of DZD 26709734,96 (approximately 72 centimes). If the used car is less than three years old, the customs duty reduction is estimated at DZD 14838741,65 (40 million centimes) compared to the previous value. These figures confirm the extent of the anticipated improvement in the car market. Maghiref also emphasised that car prices in China are very reasonable, noting that the Skoda Karoq, for example, is sold for €22,000 in Europe, while the same model manufactured in China costs no more than $14,000. This represents a significant difference that benefits Algerian consumers. The spokesman concluded by confirming that this measure will open the door to sorting between serious and non-serious dealers, adding that 'the process will filter the market and give preference to credible dealers, especially those looking to import world-class cars from China, whether local or international brands manufactured there.' For his part, economic and financial expert Nabil Djemaa confirmed to Echorouk that reviewing the mechanism for calculating customs duties based on the importing country's invoices, rather than the European reference prices, is a positive step toward greater flexibility in customs transactions and contributes to alleviating the financial burden on citizens, especially those wishing to import cars at reasonable prices. Djemaa explained that this decision is consistent with previous statements by the President of the Republic, Abdelmadjid Tebboune, who reiterated that 'the citizen is a red line,' making these measures a practical extension of the state's vision to support purchasing power. He added that the expected reductions in customs duties will enable a wide range of citizens to purchase used cars at lower costs, especially those coming from countries with lower prices, such as China, the Middle East, and the United States. While welcoming the measure, the economic expert stressed the need for customs authorities to be vigilant to avoid any potential manipulation of invoices or inflated discount rates. He recalled that the success of this step depends on strict oversight and close monitoring of the invoices declared upon import. Djemaa pointed out that adopting original invoices from the importing country will enhance supply diversity and curb inflated prices in the local market. However, he cautioned that car prices will remain linked to other factors, such as shipping costs, the exchange rate of the dinar against foreign currencies, especially the Chinese yuan, and the laws of supply and demand. He concluded by saying that the new measure will gradually restore confidence in the used car import process and represent a real relief measure for a broad segment of citizens, provided it is implemented firmly and transparently to ensure its credibility and sustainability.
El Chorouk
23-06-2025
- Business
- El Chorouk
Former Labour Minister to Face Justice With 10 Defendants
Former Minister of Labor, Hassan Tidjani Haddam, along with more than 10 defendants, including mayors of several municipalities in Algiers, will appear before the Sidi M'hamed Economic and Financial Penal Pole Court on Tuesday, June 24, for corruption charges related to the purchase of an unfinished building with funds from the National Social Insurance Fund for Employees at an inflated price. The defendants will be tried at the second branch of the Economic and Financial Penal Pole. They will face serious charges under the Anti-Corruption and Prevention of Corruption Law, including granting unjustified privileges when concluding a contract in violation of legislative and regulatory provisions, embezzlement of public funds, intentional abuse of office in violation of laws and regulations, taking advantage of the power and influence of officials, and complicity in the embezzlement of public funds. The Central Office for the Repression of Corruption investigated the case four years ago. It uncovered corruption within the National Social Security Fund for Salaried Workers, including the manipulation of its funds in a deal to purchase an unfinished building for an inflated sum, benefiting the fund. The owner benefited from significant advances during the tenure of the former director, Hassan Tidjani Haddam, who is currently subject to strict judicial oversight by a court order and is banned from leaving the country. Based on this, the investigation was launched. Following a thorough investigation, it was revealed that Fund's officials had purchased an unfinished, under-construction building intended for administrative use in the municipality of Kouba, Algiers. The building's area was estimated at approximately 15,000 square meters, while the actual area being used was only 13,000 square meters. This was done without announcing a tender in accordance with applicable law. It was also revealed that the building, despite its incomplete construction and being merely columns, was purchased for approximately DZD 60 million, excluding fees. Based on this, suspicion of corruption was established, given that the National Social Security Fund for Salaried Workers, a public institution, could have constructed the building at a lower cost by resorting to another public institution. Instead, it turned to a private institution to purchase the building for this exorbitant sum. Continued investigations into the acquisition of this building for such an exorbitant sum revealed that there was collusion among several Fund employees by resorting to a method of 'favouring' a private institution, the 'K' Real Estate Development Company, which offered DZD 60 million without evaluating the building. This revealed the involvement of an official at the State Property Directorate at the time, who later became Director of State Property, along with other Fund employees. More seriously, investigations into the case revealed that the former Minister of Labor, Tidjani Haddam, who was then the Director General of the Fund during the transaction, granted advances to the owner of the real estate development company 'K' for approximately DZD 40 million, representing 66% of the total value of the unfinished building, estimated at DZD 60 million. This means that the Fund's money was granted to complete the building's construction. Comprehensive investigations and a review of all documents related to the deal revealed that the real estate developer had benefited from additional advances. However, the building had not been handed over until the investigation was opened. Furthermore, the former CEO of CNAS did not take any punitive or precautionary measures against the real estate agency's owner at the time. Judicial investigations continued by the investigating judge of the eighth chamber of the Economic and Financial Pole Court, who decided to subject the former Minister of Labour, Hassan Tidjani Haddam, to strict judicial supervision and prevent him from leaving the country, with his passport confiscated, as well as several defendants. He ordered others to be placed in temporary detention, such as the former director of state property, who held the position of director of valuations in the same directorate, as well as the owner of real estate development 'K', who was placed in temporary detention. After the investigation was completed, the file was referred to the scheduling department of the same judicial authority to set the date of Tuesday, June 24th, as the trial date.
El Chorouk
12-05-2025
- Business
- El Chorouk
Algeria, Candidate For Digital Leadership in Africa by 2030
Algeria's achievements enable it to achieve continental leadership in digital transformation by 2030, the Minister and High Commissioner for Digitalisation, Meriem Benmouloud, affirmed on Monday in Algiers. In a statement on the sidelines of a media day dedicated to the official announcement of the National Digital Transformation Strategy, Benmouloud explained that Algeria 'has achieved several gains that allow it to become the African leader in the field of digital transformation, by 2030, through the approved strategy.' She also discussed the two data centres currently under construction, noting that they 'align with the new strategy, in its component related to expanding the infrastructure.' She added that 'the completion rate at the Mohammadia data centre has reached approximately 80%, while the completion rate at the Blida centre has reached 50%.' The minister asserted that the aforementioned strategy encompasses various fields, as it is 'the organising framework for the digital transformation process, which is an ambitious project to activate Algeria's achievements.' This strategy is based on five main axes. The first relates to 'basic infrastructure for information and communication technologies,' which includes telecommunications networks, data centres, and equipment to ensure strong connectivity and equal access to digital services. The strategy aims to 'build more than five national data centres, along with the general use of the national domain (dz).' The second axis concerns 'human capital and training,' and aims to 'provide 500,000 active experts in information and communication technologies, while reducing the migration of skilled workers by 40%.' The third axis is related to 'digital governance and focuses on the digitisation of public administration. Its goal is the complete digitisation of the internal management of the public sector, in addition to digitising administrative procedures for citizens and institutions.' The fourth axis focuses on the 'digital economy and aims to reduce cash payments and eliminate cash payments for financial transactions exceeding 500,000 DZD, as well as promote the creation of start-ups active in the digital sector, and make digital a means of generating wealth for the national economy, contributing 20% of GDP.' As for the fifth axis, which is the 'digital society', it aims to 'ensure equal and comprehensive access to digital technologies and services and increase citizen participation in public life through the digital space.' In the same context, Rabah Nassim Iklef, a representative of the Information Systems Security Agency of the Ministry of National Defense, explained that the National Strategy for Information Systems Security 'determines the country's direction and the strategic objectives to be achieved to ensure the protection and resilience of national information systems and sensitive infrastructure, thereby ensuring our country's secure digital transformation and preserving its digital sovereignty.'
Saudi Gazette
20-04-2025
- Automotive
- Saudi Gazette
Jarno Opmeer claims 2025 F1 Sim Racing World Championship
The ES TIMES — Jarno Opmeer has been crowned the 2025 F1 Sim Racing World Champion, becoming the most successful driver in the history of the official F1 esports series. Representing Oracle Red Bull Sim Racing, Opmeer secured his third career title after finishing seventh in the season finale at the EFG Studio in Stockholm, Sweden. The Dutch driver adds this triumph to his previous titles from 2020 (with Alfa Romeo Esports) and 2021 (with Mercedes-AMG Petronas Esports), surpassing Brendon Leigh, the first back-to-back champion in 2017 and 2018. With three titles, Opmeer now stands alone at the top of the sport. Calm under pressure, dominant by nature Starting the final race from 14th on the grid, Opmeer climbed through the field with precision, collecting enough points to seal the championship. His ability to stay composed under pressure has been a defining trait throughout his career, and his latest victory reinforces his legacy as one of the most consistent and elite drivers in sim racing. This season also marks the second consecutive championship for an Oracle Red Bull Sim Racing driver, following Frederik Rasmussen's title in the 2023–24 campaign. Red Bull completes the sweep with Teams' title In addition to Opmeer's individual success, Oracle Red Bull Sim Racing also secured the 2025 Teams' Championship, earning a prize pool of $130,000 (DZD 17,419,350 / SAR 487,629.48). This is the team's third championship title in the F1 Sim Racing series, further establishing its dominance in the competitive sim racing scene. Beyond F1 esports, the team has also excelled in other premier racing titles. Notably, Sebastian Job captured the Porsche Esports Supercup on iRacing in 2020 and 2024, extending the team's multi-platform success. A maturing sport with global ambition The F1 Sim Racing World Championship is operated by the ESL FACEIT Group, a key player in expanding the global esports footprint of competitive sim racing. While the RENNSPORT platform was previously part of the ESL ecosystem, the 2025 season saw a rebranding of the ESL R1 Championship to RENNSPORT R1, marking a clear structural division between the two series. As sim racing grows in prestige and professionalism, Jarno Opmeer's third title reflects not only his personal mastery but also the rising stature of F1 Sim Racing as a legitimate esports discipline closely aligned with real-world motorsport.
El Chorouk
08-03-2025
- Business
- El Chorouk
Speculation Law to Prosecute Manipulators of Imported Meat Prices
The Minister of Internal Trade and National Market Control, Tayeb Zitouni, ordered the opening of in-depth investigations into the unjustified increase in the prices of imported meat during the month of Ramadan at some points of sale, which exceeded the legal ceiling set at a profit margin not exceeding 8% when distributed at retail. These increases, which may affect the purchasing power of citizens, prompted the ministry to take action to uncover those involved in market manipulation, especially with the availability of quantities exceeding the needs of Algerians, as 17000 tons of Spanish, Brazilian and Romanian meat were imported for the month of Ramadan. The increases primarily affected Spanish meat, which Algerian consumers highly demand. Initial investigations, starting last Thursday, included several butcher shops in El-Kalitous and Ain El-Benian in Algiers, where three dealers were referred for investigation. In addition, the trade services are monitoring the activity of importers who benefited from bank settlement operations to import meat, as they are checking their invoices and the selling price to the retailer. Although the quantities expected to enter the Algerian market during the holy month reached 17000 tons, exceeding local demand, prices continued to rise at some points, raising suspicions about monopolistic practices and illegal speculation. Accordingly, the Ministry of Commerce is moving, under the Anti-Illegal Speculation Law, which was adopted to combat monopoly and manipulation of prices of basic products. This law stipulates strict penalties, which may reach 30 years in prison in serious cases, especially if the price increase is deliberate and affects widely consumed products. The law stipulates imprisonment from 5 to 10 years and heavy fines for anyone proven to be involved in speculation in basic materials, imprisonment from 10 to 20 years if the crime is committed in a crisis or disaster or if it leads to market disturbances, and imprisonment from 20 to 30 years in cases where those involved are part of an organized network aimed at creating fabricated scarcity or raising prices illegally. The ministry is working in coordination with the security and judicial authorities to arrest violators, as anyone proven to be involved will be brought to justice under this law, which does not allow any leniency with those responsible for speculation. According to official pricing, imported meat must be sold at regulated prices, with the price of Spanish lamb meat reaching DZD 2050 per kilogram, Spanish beef DZD 1350 per kilogram, and Brazilian vacuum-packed meat DZD 1200 per kilogram. After butchers in the capital were caught manipulating the prices of imported red meat and did not respect the profit margins specified under the approved regulatory decisions, and after the control officers recorded an unjustified increase in the prices of imported red meat, the Minister of the sector, Tayeb Zitouni, gave instructions to intensify control work at all stages of distribution from the importer to the retailer to protect the purchasing power of citizens. However, some markets record clear violations of these prices, which prompted the Ministry of Commerce's control teams to intensify field inspections, while taking strict deterrent measures against violators. Spanish meat is widely popular with Algerian consumers, outperforming meat imported from other countries in recent years, due to its high quality and suitability to local tastes. With the start of the entry of Ramadan meat quantities since last February, in quantities exceeding the size of demand, the rise in prices remains a matter of investigation, especially since the state has provided the necessary facilities to import meat at reasonable prices. These measures come in the context of presidential directives to control the market, as President of the Republic Abdelmadjid Tebboune stressed more than once in Cabinet meetings the need to ensure price stability during Ramadan, and not to allow any party to speculate on basic products, especially those that affect the food security of citizens.
