Roi-MohammedVI-Prince-Moulay-ElHassan

Sofitel Agadir to close business end of June

Sofitel Royal Bay in the Moroccan southern Atlantic coastal city of Agadir will cease operating on June 30 as the lease contract comes to an end, Aujourd’hui.ma reports. Sofitel Agadir Royal Bay’s owner, ABS Holding, and the facility operator RISMA agreed not to extend the contract, which took effect in 2004, over the obsolescence of […]

Egypt: Controversy around a new tax

The Egyptian government has made another U-turn after a lot of pressure from investors. The government decided to unveil a 10% tax on stock dividends and investment gains from takeovers in December 2012, but the decision wasn’t welcomed by investors. The government says it is part of the austerity measures that should be implemented to […]

Informal Sector Accounts for 20% of Morocco’s GDP- Study says

The informal sector makes up 20% of Morocco’s GDP said a study conducted by the association of Morocco’s employers (CGEM). The study shows that the textile sector remains the most affected with the informal economy rising up to 54% followed by road transport 32%, construction 31% and agri-food industry 26%. The informal sector employs 2.4 […]