First Independent Mena Newspaper
Morocco’s unemployment rate dropped to 11.2% in the first half this year, compared with 12.8% a year earlier, the high commission for planning said. From June 2021 to June 2022, the Moroccan economy created 133,000 jobs as the country shakes off dust left by the pandemic which hit most productive sectors. The new jobs were […]
Egypt’s Finance Minister Mohamed Maait has denied reports that the Arab Republic is seeking a $15 billion-loan from the International Monetary Fund (IMF) to shore up its finances. Goldman Sachs Group Inc. in a July report indicated that Egypt may need to secure $15 billion from the IMF to meet its funding requirements over the […]
Kuwait-based gifting e-commerce platform and toy shop Teeela is set to expand in the Middle East region to tap into the $30 billion gifting market, following a Pre-Series A funding round that raised $3.75 million, Zawya reports. Saudi Arabian investment firm Wealth Well, Mad’a Investment Company, Al-Akeel family and several other investors injected $3.75 million […]
Morocco’s trade deficit up to June surged to 150.5 billion dirhams or 14.6 billion dollars as the country sustains a heavy energy bill on the back of soaring commodities prices. The trade gap expanded 48.7% as the domestic economy recovers and demand grows on imports of semi-products and equipment required by the local industry increase. […]
Israel Sunday said it would accelerate the process of setting up a shared industrial zone with Jordan as part of efforts to accelerate cooperation with the kingdom. “Twenty-eight years since the peace agreement with Jordan, we are taking the good neighborly relations between our two countries another step forward,” Israeli Prime Minister Yair Lapid said. […]
The Saudi General Authority of Civil Aviation (GACA) signed Sunday a Memorandum of Understanding (MOU) with Poland to organize the operational framework for air transport between the two countries, Zawya reports. The agreement includes opening of the skies between the two countries and draft bilateral agreement on air transport services. Part of its strategy for […]
Egypt is looking to attract $10 billion-foreign direct investments for the fiscal year 2022-2023, Arab Finance reports citing a report by the Ministry of Planning and Economic Development on the goals of the budget bill. The report says the government is also pursuing the creation of around 900,000 jobs annually to keep the unemployment rate […]
King Mohammed VI has laid out his vision to attract more foreign investment in an unstable environment marked by the continuing impacts of the COVID19 crisis and the effects of major international developments on the national and the global economy. In the Throne Day speech delivered on Saturday, the Moroccan King pointed out that “despite […]
As Kenyans head to the polls on August 9, East Africa’s largest economy could be headed for tough times. With the country’s currency having depreciated sharply, Kenya’s Treasury will face difficulty paying back its huge dollar-denominated debt. Kenya is among developing countries facing an economic crisis, according to a recent report released by Moody’s Investors […]
King Mohammed VI received Saturday at the Royal Palace of Rabat, Abdellatif Jouahri, Governor of Bank Al Maghrib, who presented to the Sovereign the central bank’s annual report on the economic, monetary and financial situation for the year 2021. In an address before the Monarch, Jouahri said that despite a difficult international context, the Moroccan […]