First Independent Mena Newspaper
Carbon taxes, which the EU braces to impose, could slash by up to 10% South African exports, the central bank warned. The warning comes as the South African economy navigates tumultuous waters, with the flight of foreign investors, corruption, insecurity and electricity outages. The country produces 80% of its electricity from coal and is seeking […]
South Sudan is nearing an agreement with a UAE company for an oil-backed loan worth $13 billion, the largest in Africa’s newest nation’s history. The news was reported by AP citing an unnamed UN source which said the deal is close to being signed. “Servicing this loan would likely tie up most of South Sudan’s […]
Senegal’s newly elected president Bassirou Faye said he will seek the re-integration of military ruled Mali, Niger, and Burkina Faso to the Western African community ECOWAS. The three states have jointly announced their withdrawal from the ECOWAS, in protest over sanctions it imposed on them to pressure for a return to constitutional order. “We can […]
Morocco’s spending on social assistance would amount to $9 billion, representing some 8% of the country’s GDP, minister in charge of the Budget Fouzi Lekjaa said. Lekjaa was speaking before MPs explaining the logic behind cutting cooking gas prices, which come after a series of measures aiming to boost purchasing power of poor and middle-class […]
Morocco offered a donation of 200 tons of fertilizers to 10,000 households in Guatemala, where nearly half the labor force depends on agriculture, Morocco’s diplomatic mission said. Guatemalan agriculture minister Maynor Estrada said the donation was consistent with efforts to develop farming and fight poverty in agriculture-dependent areas. Moroccan ambassador to Guatemala Tarik Louajri said […]
Following targeted cash-handouts to needy households, Morocco has cut by 10 dirhams the subsidized price of a cooking gas cylinder, in a move that will alleviate the subsidies burden. The decision- that entered into force on May 20- marks the first subsidies cut in a gradual process that aims at breaking away with general subsidies. […]
Southern African countries hit by extreme El Nino weather phenomenon made an appeal for $5.5 billion to assist some 61 million affected people. The call was made by the Southern African Development Community, which brings together 16 members. Some countries in the region such as Zambia, Zimbabwe and Malawi saw their crops sapped by extreme […]
Morocco and the World Bank (WB) signed in Rabat Monday the Rapid Response Option (RRO) agreement, a significant step in enhancing the Kingdom’s capacity to swiftly address emergencies and provide crucial support to its citizens. The agreement was signed by Minister of Economy and Finance, Nadia Fettah, and WB Country Director for the Maghreb and […]
Tanger Med Port has seen volumes handled up 10% in the first quarter this year, compared to last year when it posted a record performance both in terms of containers and tons, wrote Le Monde. The port continues to be the largest in the Mediterranean, outperforming competitors such as Barcelona and Algeciras, the French daily […]
Morocco’s industry and trade ministry has found that the electric oven’s market is marred by dumping and plans to impose import duty of up to 62%, Moroccan media reported. Citing unnamed ministry sources, le360 said the dumping rate was as high as 74% in the electric oven’s market. Ovens by Turkey’s ITIMAT will be subjected […]