Fitch downgrades four Egyptian banks’ Issuer Default Ratings to “B”

Earlier this May, Fitch downgraded Egypt’s sovereign rating to “B” with a negative outlook. Three of the four banks, whose ratings it downgraded, are public banks exposed to the state. Rating agency Fitch downgraded on May 17 the credit ratings of four major Egyptian banks, namely The National Bank of Egypt (NBE), Banque Misr, Banque […]

Maghreb Union Secretariat Calls for joint Maghreb 2030 World Cup Bid

The Rabat-based general secretariat of the Arab Maghreb Union called for the countries of the region to put forward a joint 2030 world football cup bid. The call was made by the Secretary General of the regional grouping, Tunisia’s Taïeb Baccouche, who urged the five member states of AMU to draw lessons from the solidarity […]

Rabat, Abuja Determined to Shape Better Future for Africa

Moroccan-Nigerian cooperation has gained momentum during the past couple of years, prompting an upbeat outlook of the business community over the two countries’ economic partnership. Morocco and Nigeria are two regional powers. They are aware of their huge potentials and untapped resources. Their economies are complementary, not competitive. The North African Kingdom has the world’s […]