As it heeds straight towards the depletion of its oil-money coffers, Algeria imposed austerity measures, cutting subsidies and introducing taxes, while maintaining lavish spending on armament unchanged. Algeria spent $1.686 billion on defense that is a 0.4% increase compared to last year, Stockholm International Peace Research Institute (Sipri) said in its latest report on global […]
Moroccan banks continue to show resilience despite challenging global and domestic macro-economic conditions, Fitch Ratings says in a new report focusing on the country’s seven largest banks. Banks have built up healthy provisions buffers since 2020 and are well-placed for a continued recovery in profitability in 2024 amid rising interest rates, says the rating agency. […]
King Mohammed VI has condemned the Manchester terror attack as a despicable act that targeted several innocent victims and reaffirmed Morocco’s full support for international efforts to confront the phenomenon of terrorism and to dry up its sources. In a message of condolences to the British Prime Minister Theresa May, King Mohammed VI expressed great […]
