King Mohammed VI & King Salman

Morocco assists Spain in intercepting ship carrying 3 tons of cocaine

The Spanish Tax Agency’s Customs Surveillance Service and the Spanish Civil Guard intercepted, on Wednesday, with Morocco’s assistance, a tugboat bearing the name “Sky White,” carrying some 3,000 kilograms of cocaine, divided into 80 packages of various sizes. The operation was subject to international cooperation of police services from Morocco, France, the U.S., the U.K. […]

WB expects Morocco’s growth to reach 2.5% in 2023 & 3.3% in 2024

Morocco’s economic growth is expected to reach 2.5 pc in 2023 before rebounding to 3.3 pc in 2024, according to the World Bank’s latest Global Economic Prospects report. The persistent drought and high inflation are weakening growth in Morocco, with unemployment rising to above its pandemic peak in March 2023, said the WB. However, growth […]

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 […]