MARRAKECH

Turkey announces 20 bln barrel oil field discovery in East Africa

Turkish explorations offshore Somalia led to the discovery of commercially viable crude oil, estimated at 20 billion barrels. Turkey and Somalia had signed a deal under which Turkey controls 90% of oil and gas output rights. The deal triggered criticism for its unfavorable terms for Somalia, a war-torn and cash-strapped country. Somalia’s President Hassan Sheikh […]

Talk with taikonauts’ helps to promote China’s soft power in Africa

Three Chinese astronauts, known as ‘taikonauts’, recently spoke to students from eight African countries via video link during an event hosted by the China Mission to the African Union (AU), highlighting the increasing collaboration in space between China and African nations who aspire to develop their own ambitions in the next frontier. The Forum on […]

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 […]