.

Morocco to Launch Gradual Dirham Float on January 15

The long awaited launch of the flexible exchange rate system for the Dirham currency will start on January 15 after it was postponed for 5 months. The gradual Dirham float will start with an anchor of 2.5% in-stead of 0.3% currently, while fixing the Dirham exchange rate via a peg that is 60 percent weighted […]

Egypt signs $13m contracts with three gold mining companies

Egypt has given five new gold exploration contracts worth $13 million to three mining companies in the back of 11 others. The contracts, Arab Finance reports citing a cabinet statement, include a $9 million (EGP 141.49 million) agreement with Canada’s Lotus Gold to explore 11 blocks; a $3 million (EGP 47.16 million) deal with Mining […]

Two Moroccan Alleged Members of IS Arrested in Spain

The Spanish interior ministry Tuesday announced it pinned down two Moroccans belonging to a terrorist recruiting cell affiliated to the Islamic State group (IS). The two men, aged 25 and 27, were nabbed at Badalona, North-East of Barcelona. According to the ministry, they use internet to recruit and indoctrinate would-be terrorists for IS. These internet-recruited […]