mamounia-marrakech

Morocco’s Trade Deficit Widens to $20.5 bln in 2017

Morocco’s trade deficit deepened by 2.6% in 2017 to stand at 189.8 billion dirhams ($20.5 bln) compared to 185 billion dirhams in 2016, the Moroccan foreign exchange regulator (Office des Changes) said. Morocco’s exports increased by 9.3% to reach 244.9 billion dirhams, while imports rose 6.3% to 434.7 billion dirhams, the office’ recent data show. […]

Egypt’s biggest investment bank takes over state-run Arab Investment Bank

EFG Hermes, Egypt’s biggest investment bank, has completed its takeover of state-owned Arab Investment Bank for an undisclosed transaction. EFG Hermes, Arab News reports, agreed to purchase a 51% stake in the bank in May, with the Sovereign Fund of Egypt also acquiring a 25% stake and the current owner, Egypt’s state-owned National Investment Bank […]

Morocco, Cuba Restore Diplomatic Ties after 37 Years of Severance

Morocco and Cuba have ushered a new era by restoring their diplomatic ties and turning the page of 37 years of severance on the backdrop of Havana’s alignment on the Polisario separatist thesis. The re-establishment of diplomatic ties was announced following a meeting between the heads of the permanent missions of the two countries at […]