First Independent Mena Newspaper
Morocco is reportedly seeking a re-negotiation of its free trade agreement with Turkey as it seeks more Turkish investments to compensate for an expanding trade deficit, minister delegate in charge of foreign trade Omar Hjira said. The trade deficit with Turkey soared to 3 billion dollars, driven by fabric imports by Morocco’s textile sector. The […]
Morocco’s tourism sector has attracted a record 7.2 million tourists up to May, recording a 22% growth compared to the same period last year and up 68% compared with the pre-Covid reference year of 2019. The increase meant an additional 1.3 million tourists, as Morocco prepares to break a new record this year both in […]
Subsidiary of French bank Société Générale has officially rebranded to Saham Bank, six months after Saham Group completed the acquisition. Société Général sold its Moroccan bank and its insurance subsidiary to Saham Group in 2024, worth 745 million euros. The transaction, which involved the acquisition of 57.67% of SGMB’s capital and voting rights, was first […]
Morocco and Rwanda have agreed, under an agreement signed Wednesday in Rabat, to enhance military cooperation in training, exercises, logistical support, military health and exchange of expertise in areas of common interest. The agreement, sealed during the visit paid by Rwanda’s Defense Minister Juvenal Marizamunda to the North African Kingdom, also provides for the creation […]
Morocco’s central bank, Bank Al-Maghrib (BAM), and the High Commission for Planning (HCP) signed a strategic partnership agreement on June 17 aimed at enhancing cooperation in statistical production, data exchange, and economic analysis to meet international standards. The convention establishes a framework for producing more relevant, higher-quality data to support informed decision-making and effectively guide […]
American Oracle Company, a global leader in computer technology, inaugurated on Tuesday a state-of-the-art Research and Development (R&D) center in Casablanca, Morocco, focusing on artificial intelligence (AI), cloud computing, cybersecurity, and graph processing. The inauguration ceremony, chaired by Moroccan Prime Minister Aziz Akhannouch, was attended by Minister of Digital Transition Ghita Mezzour, Oracle’s Vice Pdt. […]
Morocco’s Compagnie Minière de Touissit (CMT) appears to be stabilizing after a turbulent 2024 marked by legal disputes and exceptional financial losses, with analysts projecting a potential recovery driven by new deposits and strategic refocusing on critical metals. BMCE Capital Global Research forecasts encouraging prospects for 2025, with revenues expected to rise 4.1% to 610 […]
Vice-President of the European Bank for Reconstruction & Development, Mark Bowman, will visit Morocco this June 18 – 20 to discuss with Moroccan officials the Bank’s support for private-sector financing and transition to green economy. During the visit, Mr. Bowman will meet several government officials, members of the business community and sign agreements on new […]
Mali has started building a new gold refinery with Russian and Swiss partners, which officials say will help the country gain greater control over its gold exports, Reuters reported. The 200-ton-capacity facility is being developed in partnership with Russia’s Yadran Group and a Swiss investment firm, with the Malian state holding a controlling stake. At […]
The United States has sealed a new bilateral Container Security Initiative arrangement with Morocco to facilitate the high volume of cargo transiting between both countries. The agreement was signed Tuesday in Rabat by Donald Conroy, CBP’s Executive Director of the Office of Field Operations International Operations and Abdellatif Amrani, General Director of the Customs and […]