First Independent Mena Newspaper
U.S. Vice President Kamala Harris has thanked King Mohammed VI and the Corporate Council on Africa (CCA) for hosting the U.S.-Africa Business Summit which opened on 19 July in Marrakech. Addressing, remotely, participants in the summit from Washington D.C., the American Vice-President said: “I would like to thank the Corporate Council on Africa, His Majesty […]
The global economic outlook is “darkening”, the managing director of the International Monetary Fund (IMF) said on Wednesday, citing the war in Ukraine and the “commodity price shocks” it has caused among the main reasons. The IMF plans to publish later this month “a further downgrade” to its growth forecasts “for both 2022 and 2023”, […]
Trade exchanges between Morocco and Brazil reached $466.3 million in the first quarter of 2022, or 18.2 pc increase compared to the same period of last year. According to data released by Brazil’s economy ministry, Moroccan exports to Brazil dropped to $223.5 million in Quarter 1 2022 from $251.8 million recorded from January to March […]
Morocco’s new development model emphasized the key role that Casablanca stock exchange is poised to play and set goals such as increasing market capitalization and initial public offerings. However, the stock market suffered a lethargy in recent years with fewer listings and low secondary market activity as well as a flight of foreign investors. The […]
Morocco and five automotive part manufacturers signed 8 investment agreements worth 1.7 billion dirhams ($1.8 billion) to set up plants in different industrial locations to boost the wiring components, key to meeting the growing orders from electric vehicle makers. Speaking during the signing ceremony, Moroccan Industry Minister Ryad Mezzour said the new investments reinforce Morocco’s […]
Turkish automotive supplier Martur Fompak International inaugurated an industrial plant on Tuesday, March 1 in Tangier Automotive City. Built over 38,487 m², the plant required an investment of more than $35.6 million (340 million dirhams) and will allow the creation of 1,150 jobs. Located in one of Morocco’s biggest industrial zones, the factory […]
The Moroccan Federation of Pharmaceuticals Industry and Innovation (FMIIP) has partnered with the International Finance Corporation to enhance the sector’s efficiency and mitigate climate change by reducing water and energy waste. Under an agreement sealed Tuesday, IFC pledged to help FMIIP members in reducing their carbon and water footprints and improving efficiencies in their production […]
Morocco’s economic activity has recovered most of the ground lost during the severe global recession of 2020 with a growth rate of 6.3% last year and medium-term growth prospects of 3.5%, as the country continues its fiscal and monetary stimulus, the IMF said. Morocco has posted the highest growth rate in the MENA region in […]
Morocco outperformed other emerging African markets in terms of logistics and supply chains in the annual Agility Emerging Markets Logistics Index. The Index ranks countries for overall competitiveness based on their logistics strengths, business climates and, for the first time, their digital readiness. It also takes into account factors that make markets attractive to logistics […]
Former Head of Spanish News Agency EFE, Luis María Anson, has voiced concern over Washington’s growing preference of Morocco over Spain, saying such a tendency will weaken Madrid’s regional and international influence. The U.S. administration is suspicious of the Spanish government’s rapprochement with the communist party, but also of Pedro Sánchez’s open or undeclared ties […]