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Category: Business
Morocco’s OCP more than triples profit, doubles revenue
Morocco’s phosphates and fertilizers producer OCP posted an all-time-high profit of 1.6 billion dirhams in 2021, up 272% as the company benefits from the surge ... Read More
Morocco’s Central Bank keeps interest rate unchanged due to Global & Domestic Situation
Bank Al-Maghrib, Morocco’s central bank, has decided to hold interest rates steady, contrary to the forecasts of many analysts who were expecting a hike of ... Read More
Morocco, Israel pave way for cooperation in aerospace industries
Morocco and Israel signed a partnership agreement that will help attract investments by Israeli civilian and defense aerospace giant IAI's. The deal was signed in ... Read More
Morocco starts giving subsidies to transport professionals
The Moroccan government started distributing subsidies to professionals in the transport sector to help mitigate the impact of the surge in energy prices on the ... Read More
Morocco’s economic growth to drop to 0.7% due to drought, war in Ukraine
Morocco’s central bank revised downwards this year’s growth forecast to 0.7% amid rising inflationary pressures due to fallout of the war in Ukraine and as ... Read More
Automotive: Japanese Sumitomo moves production to Morocco due to Russia-Ukraine war
Japanese Sumitomo Electric Industries has decided to move its production of automotive wire harnesses to Morocco and Romania due to the Russian-Ukraine war and heightened ... Read More
Fitch Ratings downgrades Tunisia to ‘CCC’
Fitch Ratings has downgraded Tunisia's Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC' from 'B-', reported Tunisian News Agency TAP. The agency said that the ... Read More
US Farmers & Members of Congress pressing for return of Moroccan fertilizers in America
Soaring prices of fertilizers due to Russia-Ukraine war has pushed a bipartisan group of sixty members of the US Congress and farmers to reach out ... Read More
Ryanair to add over 2 million seat capacity to Morocco destination
Ryanair will raise the number of air routes to Morocco to 37 by the next summer adding 2.073 million seat capacity, up 54% compared to ... Read More
Morocco’s OCP poised to play greater role in global food security
Morocco’s phosphates producer OCP plans to increase its fertilizers output to 11.9 million tons this year, compared with 10.8 million tons last year, as it ... Read More