First Independent Mena Newspaper
Sales abroad by all segments of the automotive sector gained traction in the first quarter this year becoming Morocco’s top exporting sector again ahead of phosphates’ sales which topped exports last year. Morocco is home to two large plants by Stellantis and Renault as well as an automotive ecosystem exporting wire harness and interior parts […]
Officials from the Casablanca Stock exchange held meetings with investors in London to showcase the competitive advantages it offers as well as Morocco’s business climate. The bourse has a pivotal role to play in funding Moroccan enterprises and it is set to attract more companies seeking better financing opportunities, including SMEs, Casablanca Stock Exchange head […]
Morocco’s cereals harvest is seen growing to 55 million quintals, up 62% from last year when the country suffered from the longest drought in more than three decades, the agriculture ministry said. The increase in the harvest was possible thanks to a 13% rise in rainfall up to April 27, which however remained 36% below […]
Majority of oil trade routes are now at least five times longer as supplier and buyer dynamics have changed dramatically after the Western sanctions imposed on Russia over its invasion of Ukraine, raising the prospect of increased emissions. Most pre-war oil trade routes that took 5-6 days prior to the Russia-Ukraine war can now take […]
The Nigerian National Petroleum Company (NNPC) Ltd, Africa’s biggest oil producer, has signed a memorandum of understanding (MoU) with a Norwegian company to build a floating LNG plant in the West African country to boost its domestic supplies and exports. Nigeria’s state oil giant has inked the MoU with Golar Liquefied Natural Gas Energy (GLNG) […]
King Mohammed VI of Morocco said Arab financial institutions should pool effort to address economic challenges in a context of geopolitical tensions and inflationary pressures while working together to fund climate action and concessionary finance in the region. To rise up to global challenges and risks to energy and food security in particular, “we clearly […]
Fitch agency has awarded Morocco ‘BB+’ rating consolidated with a stable outlook thanks to the country’s sound macroeconomic policies that has supported resilience to shocks, a favorable debt composition and a comfortable external liquidity buffer. Economic growth slowed in 2022 to 1.2% from 7.9% in 2021, as agricultural output contracted by 15% due to a […]
The Morocco-UAE Joint Economic Commission held its first ministerial session In Rabat this Thursday, under the chairmanship of Minister of Economy and Finance Nadia Fettah and her Emirati counterpart Abdullah bin Touq Al Marri. In an address at the opening of the session, Mrs. Fettah welcomed the level of distinguished relations between the two brotherly […]
Abu Dhabi National Energy Company (TAQA) and Britain’s Octopus Energy Group have joined the Morocco-UK subsea energy interconnection project led by Xlinks. The two companies have invested 30 million pounds ($37.3 million). TAQA invested 25 million pounds and Octopus 5 billion, Xlinks said. “The huge potential of the Morocco – UK Power Project will help […]
the U.S. Senior Coordinator for Atlantic Cooperation, Jessica Lapenn, hailed, Tuesday in Rabat, King Mohammed VI’s leadership in the Atlantic area. Morocco plays a leading role in the Atlantic area under the leadership of King Mohammed VI, the US official told reporters after a meeting with Minister of Foreign Affairs, Nasser Bourita. “We are in […]