Fitch Ratings underscores Morocco’s macroeconomic stability, external liquidity buffers

Despite the coronavirus crisis impact, Morocco maintains macroeconomic stability, low inflation and a relatively comfortable level of foreign exchange reserves that act as external liquidity buffers, Fitch Ratings said. The agency affirmed Morocco’s long-term foreign-currency issuer default rating at ‘BB+’ with a Stable Outlook. Fitch Ratings however expects the government’s budget deficit to stand at […]

Belgian consortium to build center for green hydrogen production & storage in Egypt

A consortium of Belgian companies revealed Monday on the sideline of the ongoing COP27 plans to set up a center for the production and storage of green hydrogen in Egypt, meant for export to Europe. The Belgian Alliance for Companies, made of DEME Group, Fluxys, and Antwerp Port met with Egyptian Prime Minister Mustafa Madbouli […]

Egypt’s Tourism Hit by Another Terror Attack

The Egyptian security forces have botched up Wednesday a new terror plot hatched to deal a hard blow to the tourism sector, one of the major pillars of the economy of the most populous country in the Arab world. The target was this time the ancient Karnak Temple in Luxor, one of Egypt’s world famous […]