First Independent Mena Newspaper
The turnover of the sector of information and communication technology (ICT) in Morocco jumped from € 750 million in 1999 to € 3 billion in 2013, revealed the National Agency of telecommunications Regulation (ANRT). The sector has thus become the biggest tax-payer in the country and grabs much of the foreign direct investments injected in […]
President Abdel Fattah al-Sisi has spent 100 days in office marked with daring economic reforms that his predecessors have avoided as politically-risky reforms. The reforms could attract foreign investors who have stayed away from the country due to the political crises that the country has been experiencing. Bryan Carter, lead portfolio manager for emerging debt […]
Discussions between President Abdel Fattah Al-Sisi and his Minister of Supply and Internal Trade Khaled Hanafy during the weekend centered to plans that will ease the international wheat dependency burden of Egypt. Reports stated that the projects that were earmarked during their closed door meeting are three “major” internal investment plans. The plans are complimentary […]
The mood is defiant in the streets of Buenos Aires after Fitch Ratings and Moody’s Investors Service declared today Argentina in default on some bonds for the eighth time in its history. This follows Standard & Poor’s Ratings’ Services cutting its credit rating on the the South American nation’s foreign-currency sovereign debt to “selective […]
Chinese operators and firms have started looking towards Morocco for new locations of their businesses or production units. The Chinese Shandong Shangang group, a world leader in the manufacture of steel products, is one of these groups which decided to set up a unit in the Tangier free zone in Northern Morocco. A memorandum of […]
Morocco’s aeronautics industry sector which has constantly progressed since it was launched in the late nineties of the last century has attracted this week a € 45 million new investment. The investment will be injected by Aerolia, an Airbus Group subsidiary, and Alcoa, a global leader in lightweight metals technology, which has reoriented its activity […]
Morocco’s leading telecom operator, Maroc Telecom, will acquire six African subsidiaries of its new majority shareholder UAE Etisalat for $ 650 million. By acquiring Itisalat branches in Benin, Côte d’Ivoire, Gabon, Niger, Central African Republic and Togo, the Moroccan operator will expand its activities in the continent and become a genuine telecom “hub” in French-speaking […]
Maroc Telecom, the leading telecommunications operator in Morocco, held its General Assembly on Tuesday (April 22) to officially celebrate the entry of the new majority shareholder, the UAE Etisalat, which acquired 53% of the company’s capital, previously held by Vivendi. Etisalat reached the € 4.2 billion deal with Vivendi in November last year after months-long […]
His Majesty King Hamad of Bahrain, during a visit to Kazakhstan, revealed plans for major investments and creation of a free trade zone between the two countries. While appreciating the hospitality of Kazahk President Nursultan Nazarbayev, King Hamad hailed the signing of the memoranda of understanding which will bolster and provide a platform for cooperation […]
Stock markets in Egypt suffered another major loss with fingers pointing at different reasons after a successful 3month recording of gains. The main index slide by 3,5% but the Egyptian pound rose against the US dollar. Investors are skeptical about Egypt’s future especially with the fast approaching May presidential elections coupled with the continuous violence […]