Closure of Morocco’s Samir Refinery Propels BP to Pay $68 Million to Abu Dhabi Bank

The London High Court ruled that the British Energy company, BP, pays $68.9 million to the National Bank of Abu Dhabi (NBAD) in a case originating from the sudden closure of Morocco’s Samir refinery in 2015. BP “sold a cargo of crude to Samir in August 2014 which was not paid for and NBAD took […]

Egypt seeks partnership with Japan on localization of automotive industry

Egypt’s General Authority for Investment and Free Zones has indicated that the North African country is seeking cooperation with Japan to localize the automobile industry. Hossam Heiba, Chairman of the authority, discussed with President of Toyota Tsusho a sustainable partnership between the two countries to conquer the African market, leveraging on Japan’s technological, investment and […]

Morocco’s economy gains momentum as king highlights industry, tourism growth

Morocco’s King Mohammed VI highlighted on Throne Day the progress made by the country’s economy, citing strong growth, rising industrial exports and record tourism arrivals, while urging the financial sector to do more to support investment and small businesses. In a speech marking the 27th anniversary of his accession to the throne, the king said […]