First Independent Mena Newspaper
Two Moroccan architects working at a shipyard at Agadir harbor, Southwestern of the kingdom, have built a steel trawler fitted with state-of-art technology, Le360.ma reports. The vessel is fitted with innovative state-of-the-art propulsion system, electrical engine and auxiliary power generators running on diesel. The innovative system used by the architects working for Blue Wave; a […]
Stellantis group has announced that its supermini electric car Opel Rocks-e will be produced in PSA plant in Kenitra where Citroen Ami is also manufactured. Stellantis was created in January 2021 after a merger between Fiat Chrysler and PSA. The group is now the world’s fourth-largest car manufacturer with eyes set on promoting the shift […]
Hexcel Corporation, a leading advanced composites company, has decided to double the size of its facility in Casablanca, Morocco, to meet increasing demand due to a growing success of its operations in the North African Kingdom. The Casablanca facility started production in 2018. It transforms lightweight honeycomb materials into engineered core parts to reinforce structures […]
Morocco’s BMCE Bank International Plc UK has sealed a $150 million partnership with the International Finance Corporation to bolster cross-border trade in Africa and prevent shortages of essential goods, including grains and building materials amid the Covid-19 crisis. Under the agreement announced Wednesday, IFC will enter into a risk-sharing facility with BMCE Bank International, a […]
Morocco’s exports have climbed sharply during the past five years, reaching their highest levels on record, confirming the resilience of the country’s economy and its recovery after covid-19 crisis. During the first seven months of 2021, exports of Morocco jumped by 23.2% to over $19 billion compared to the figures recorded the same period of […]
Morocco’s OCP Group, the world leader in the fertilizers market, posted sales of 32.5 billion dirhams, in the first half of 2021, up 18.5% compared to the same period last year when sales amounted to 27.4 billion dirhams. In the second quarter of 2021, the turnover reached 18.19 billion dirhams, compared to MAD 15.13 […]
Swiss aircraft manufacturer, Pilatus, and Belgian aerospace company, Sabca, have sealed a deal for the assembly of PC-12 aerostructures in Morocco. The deal, which was inked Monday by Pilatus and Sabca CEOs in presence of Morocco’s minister of Industry Moulay Hafid Elalamy, will give impetus to aerospace ecosystem set up in the Kingdom to attract […]
Moroccan tomatoes have made big gains in market share and sales in the European Union during the few past years, according to Hortoinfo magazine. Morocco’s tomato exports increased to the EU during the last five years, while the Spanish and Dutch tomato sales in the EU have plummeted. In the first semester 2021, Moroccan tomato […]
Egypt-based investment company, Egypt Kuwait Holding Co SAE (EKH), will invest $500 million over the coming five years, CEO Sherif El-Zayat has revealed. El-Zayat said the company will invest $100 million a year and has made available $100 million to seize any acquisition opportunities during the upcoming period. In this vein, the firm already decided […]
The Moroccan government has approved the setting up of a National Financial Intelligence Authority to better combat money-laundering, terror financing and weapons proliferation. The establishment of this new entity comes following the recommendations issued by the Middle-East & North Africa Financial Action Task Force which has called for upgrading the country’s financial intelligence unit […]