First Independent Mena Newspaper
Francophone African and Maghreban countries will shortly be able to watch a new TV channel, “Bloomberg-Afrique” that will beam its programs in French from the city of Casablanca. The new channel will broadcast programs on the development of the continent in addition to its primary role as a channel of economic and financial information, said […]
Global rating agency Fitch has affirmed Morocco’s Long-term foreign currency Issuer Default Rating (IDR) at ‘BBB-‘, Long-term local currency IDR at ‘BBB’, and Short-term foreign currency IDR at ‘F3’. The agency has also given the North African Kingdom a “stable outlook” and affirmed the country ceiling at ‘BBB’. Morocco’s ‘BBB-‘ rating is supported by a […]
Lately many European banks have been suffering because of the slow European economy. UBS, one of the major Swiss bank wishes to prevent dilapidating profits by diminishing operations that have been jugged risky. Thus deciding to mainly exploit its wealth management group. This bank that is based in Zurich was forced to put in place […]
For the first time in 27 years, the New York stock exchange market closed due to extreme weather conditions. During these last few days the proximity of Hurricane Sandy to this economical center of the US has been known. Many roads were blocked and thousands of residents were told to evacuate. But the decision to […]
The Egyptian government is reportedly seeking financial assistance from Algeria in the form of a $2 billion deposit. Egyptian government sources were quoted by the media as saying that the matter would be discussed at the talks Egyptian Prime Minister Hisham Kandil is holding this week in Algeria with Algerian officials, including with Premier AbdelMalek […]
Tunisia will get EUR 4 million in the framework of the Micromed Program, an initiative launched by the European Investment Bank (EIB) to help promote the microfinance sector in Mediterranean partner countries. The MicroMED Tunisia program was established in response to a call for assistance from the Tunisian Administration in its endeavor to develop the […]
Morocco, which is already a regional leader in microcredit, is poised to develop its strategy in the sector, the aim being to increase the number of beneficiaries to 3.2 million people and to create some 2 million part time jobs by 2020. The announcement was made last week on the sidelines of the international conference […]
A deal has been reached for the acquisition of Al Rashad Finance and Management Advisory JSC (Rashad) together with its business, operations and financial services license by Arqaam Capital. Rashad which was established in the beginning of the year will now be operating under Arqaam Capital Libya and help clients of Arqaam’s regional network participate […]
The Casablanca Finance City, an emerging regional financial hub in Africa, has partnered with the CityUK to develop of the securities and derivative markets, boost education and training in the financial services sector and build an insurance and reinsurance sector that will benefit the wider African market. Chris Cummings, chief executive officer of TheCityUK, said: […]
Tunisia Amen bank, the 2nd largest private bank in the North African country, has received backing from the International Finance Corporation, a member of the World Bank, to boost the company’s efforts to improve governance and modernize management practices. The IFC backing comes at a time when Tunisian banks are implementing new central bank regulations […]