First Independent Mena Newspaper
Spending as part of the compensation fund subsidizing the prices of fuel, wheat, sugar, and butane gas more than halved to 4.5 billion dirhams in the first quarter this year, auguring well for state finances, according to the finance ministry. Subsidies including cash handouts to transport professionals stood at 44 billion dirhams last year due […]
The Arab Monetary Fund has agreed to provide Morocco a $277 Million loan to support the country’s financial and banking sector and enable it maintain its economic stability amid a soaring global inflation due to the Russia-Ukraine war. The loan, announced on Thursday by the fund, will strengthen control & supervision of Moroccan financial and […]
The strategic importance of the fixed link project, through the Strait of Gibraltar, between Morocco and Spain, for both kingdoms and for Europe and Africa was the focus of a conference held this week in Madrid. During this meeting, held at the Casa Árabe, an institution under the Spanish Ministry of Foreign Affairs, on the […]
The size of Kenya’s economy will overtake that of Angola, Africa’s leading oil producer, this year even as Ethiopia stretches its lead, according to the projection presented in the International Monetary Fund’s (IMF) latest World Economic Outlook. The IMF projects Angola’s gross domestic product (GDP) to shrink during the period, hence catapulting Kenya, whose economy […]
The Moroccan government adopted a decree canceling the value-added tax on agriculture inputs in a bid to lower food prices. The measure is in line with government efforts to curb inflation for farm produce after food inflation soared 20.1% in February. The VAT exemption covers production equipment and other products used to maintain plants in […]
The Cape Verdean island of São Vicente will host next week the first ministerial meeting of the South Atlantic Peace and Cooperation Zone (Zopacas) in more than 10 years, according to an official source. The VIII ministerial meeting of the organization will be held on April 18, at the Oceanographic Center of Mindelo, island of […]
Netflix plans to expand its operations in Africa, building on the success of hit shows and series like the South African drama “Blood and Water”, the online video-streaming giant said. Netflix has invested $175 million in film content production in the continent since launching its operations in South Africa, Kenya and Nigeria in 2016, having […]
The Israeli Knesset hosted on Wednesday evening, for the first time in its history, a ceremony in Moroccan colors on the occasion of Mimouna, the traditional holiday of Moroccan Jews, which has become a public event celebrated every year in the country. The Mimouna, propagated by Moroccan Jews, is held directly on the night of […]
Morocco’s water department plans to announce the company that would build Casablanca’s desalination plant by year’s end, water and equipment minister Nizar Baraka said, adding that the competing companies include Moroccan ones. Consecutive droughts emptied many Moroccan dams pushing the government to invest in desalination to free dam water for inner regions. By 2030, Morocco […]
The Royal Armed Forces will receive the U.S. rocket launchers (HIMARS) and guided bombs (JSOW) that will enhance further Morocco’s military capabilities to encounter threats to its stability and regional peace. On Tuesday, the U.S. Defense Security Cooperation Agency said the State Department has approved the sale to Morocco of 18 High Mobility Artillery Rocket […]