King Mohammed VI 2018

Egypt’s current account deficit soars as Suez Canal revenues plummet

Egypt’s current account deficit more than doubled to $5.9 billion in the July-September 2024 quarter, up from $2.8 billion in the same period last year, according to the Central bank on January 16. A significant contributor to this widening deficit was a sharp drop in Suez Canal revenues, which fell by 61.2% to $931.2 million, […]

UN Security Council demands Polisario’s immediate withdrawal from Guerguarat

The UN Security Council Tuesday asked the Polisario separatist front to pull out immediately its forces from the Guerguarat buffer zone, in the southernmost tip of the Sahara, after it ignored another call by the UN Chief earlier this month, le360.ma portal reports citing a UN source. “There was near-unanimity at the Security Council to […]

Morocco’s Phosphates Revenues Stood at 42 billion Dirhams in 2016

The consolidated revenues of Morocco’s state-run phosphates company, Office Chérifien de Phosphate (OCP), fell to 42.47 billion dirhams in 2016, compared to 47.73 billion dirhams in 2015. The OCP, the world’s leading phosphates exporter, imputed the drop to the slide in phosphate and fertilizer prices, prompting efforts to increase production and cut costs to counter […]