First Independent Mena Newspaper
Since the King called for the setting up of a special fund to upgrade health services, help most hit sectors by coronavirus and maintain jobs, donations kept flowing from public institutions, the private sector, state officias, employees and individuals. The fund which was targeting 10 billion dirhams received more than 25 billion dirhams as different […]
Moroccan public institutions, private companies, officials, Mps and individuals are closing their ranks bringing valuable contributions to the special fund to counter the coronavirus pandemic which exceeded 10 billion dirhams ($ 1 bln). King Mohammed VI called on Sunday for the setting of the $1 billion fund to boost health infrastructure and mitigate the economic […]
On the proposal of its main shareholder, the Al Mada Board of Directors donated more than $200 million to the special fund dedicated to the management of the Coronavirus pandemic in Morocco. This important initiative translates the great interest and commitment of King Mohammed VI in managing the Coronavirus crisis, which is affecting the Kingdom. […]
The Central Bank cut its benchmark interest rate to 2% to boost economic activity, which, like elsewhere in the world, is expected to reel under the impact of the coronavirus outbreak. Drought has complicated the outlook for Morocco, which expected a contraction of agricultural output plunging growth to 2.3%, according to the central bank. The […]
Morocco will set up a $1 billion (10 billion DH) special fund for the management of the Coronavirus pandemic. The Royal Office said in statement issued this Sunday that King Mohammed VI gave his high instructions to the government “to create immediately a special fund dedicated to the management of the Coronavirus pandemic.” “The earmarked […]
Moroccan government has earmarked $5.7 million to help farmers protect their livestock and ease their concern over the delay of rainfall. The funds will be used for the purchase and transportation of fodder to rural zones and remote villages to enable farmers to keep their cattle. These emergency measures were announced lately by minister […]
Nezha Hayat, Chairperson of Moroccan Capital Market Authority (AMMC), has been elected Chair of Africa-Middle-East Regional Committee (AMERC) of the International Organization of Securities Commissions (IOSCO). The IOSCO Regional Committee for Africa and the Middle East brings together the financial market regulators of the region, bearing the mission to examine, exchange information and promote issues […]
The main index at Casablanca’s stock exchange suffered on February 9 the steepest single-day plunge in its history amid a similar trend in international bourses due to Coronavirus fears. Investors rushed to sell shares causing a 5.82% drop in Masi, Casablanca’s main index, which lost 11.2% of its value since the beginning of 2020. The […]
Tunisia expects a growth rate of just 1% this year, compared with the 2.7% envisaged in the 2020 budget, and plans to seek a new loan deal with the International Monetary Fund (IMF). Tunisian Prime Minister, Elyess Fakhfakh, who made the announcement on Sunday said his government has slashed the country’s economic growth forecast for […]
Morocco moves on Monday March 9 to the next step in its currency reform broadening the fluctuation band for the dirham to 5% from 2.5% amid positive macro-economic conditions and enough international reserves, the finance ministry said. The North African country launched a gradual floating of its currency in January 2018, raising the official band […]