First Independent Mena Newspaper
Works to build a highway linking Tiznit in central Morocco to Dakhla are now 81% complete, in a key project that will improve connectivity between Morocco and its south and open a gateway for road traffic to the rest of Africa. The new 1055km-long road will be built at a cost of 10 billion dirhams […]
Morocco’s braces for a surge in the bill of subsidies to keep bread prices stable from 1.3 billion dirhams in a normal year to 3.844 billion dirhams expected this year, Delegate Minister in charge of the budget Fouzi Lekjaa said. Speaking to reporters following the weekly government council, Lekjaa deplored the difficult conditions in the […]
The European Bank for Reconstruction and Development has approved loans totaling €50 million to two Moroccan banks, namely “Crédit du Maroc” and “Société Générale Maroc” (SGMB), destined to boost Morocco’s green transition. The loan agreements were signed at the EU-Africa Business Forum in Brussels, co-organized by the European Commission, the African Union Commission, and African […]
Israeli economy minister Orna Barbivai will visit Morocco next week to ink an economic and commercial cooperation accord that will enhance trade relations between the two countries. According to a statement released Thursday by the Israeli ministry of economy, Mrs. Barbivai will start on Sunday her visit to the North African Kingdom for meetings with […]
The European Bank for Reconstruction and Development (EBRD) is strengthening the competitiveness of the private manufacturing and service sector in Morocco with a €12 million loan to Morocco Mobility and Automotive Centre (ATC), a Moroccan company involved in automotive testing. EBRD said in a statement that the funds will help ATC acquire equipment to set […]
The governor of the Libyan central bank, Saddek El-Kaber, is being pressured by some international parties to cut off financing for the Government of National Unity (GNU) led by Prime Minister Abdulhamid Dbeibeh who has refused to step down, after the country’s Parliament replaced him last week, Update Libya reports, citing some diplomatic sources who […]
Morocco is elaborating a new investment charter meant to foster the participation of private funds in a bid to reverse the current trend as private investment represents only about one third of total investment. In this connection, King Mohammed VI chaired, on Wednesday at the Royal Residence of Bouznika, a working session devoted to this […]
China’s car part maker Citic Dicastal opened in Morocco its third factory worth 190 million dollars to manufacture aluminum chassis parts. The new factory in Kenitra will be ready in six months with a production capacity of 10 million units. It will offer up to 766 direct jobs, the industry ministry said in a statement. […]
King Mohammed VI ordered the allocation of 10 billion dirhams ($1 billion) to mitigate the impact of drought on farmers, the Royal Palace said. Morocco has registered a rainfall deficit of 64% jeopardizing this year’s harvest and putting farmers in a difficult financial position. Hassan II fund for economic and social development will contribute by […]
Morocco looks forward to developing its shellfish farming sector with the help of Japan, a global leader in this industry which plays a key role in this Asian country’s economy and food security. Japanese experts visited lately the site of the project Tiguert-Imiouadar, near the city of Agadir, to share their know-how with Moroccan fishermen […]