uae-oil

Moody’s downgrades Egypt’s rating to ‘B3’

Moody’s Investors Service cuts Egypt’s sovereign rating by one notch to B3 from B2, saying that it does not expect the country’s liquidity and external positions to rebound quickly. The change comes as the Arab country has continued to face a foreign currency shortage despite allowing the Egyptian pound to depreciate sharply in recent months. […]

Al Hoceima hirak inmates transferred to prisons closer to their families for humanitarian reasons

The General Delegation for Prison Administration and Reintegration (DGAPR) has decided to transfer the inmates convicted in the Al Hoceima hirak to penitentiary institutions in northern Morocco for humanitarian reasons. The DGAPR announced Thursday that following the confirmation on appeal of the judgments against a group of detainees in the context of the events of […]

Japan’s Yazaki Group to expand in Morocco with a fourth factory

Global automotive parts supplier Yazaki is planning to open a new plant in Morocco in January 2020. This plant, Yazaki’s fourth in the kingdom, will be set up in Kenitra, some 40 km to the north of Rabat, and will start operating in January 2020, says L’Economiste daily. The facility will employ 2,500 people, bringing […]