First Independent Mena Newspaper
Morocco has developed one of the globe’s most competitive automotive industry hubs and prepares to raise production to 1 million cars annually, US magazine “Automotive Industries” said recently. In a special issue on the car industry in Morocco, the media explained how Morocco was leveraging its ready access to the European automotive market with an […]
Morocco expects to add 650 million dollars to its foreign exchange reserves as part of $1.2 billion that will be offered to the country under the IMF’s Special Drawing Rights. The sum is to be unlocked by the IMF this August 23 after a historic approval by the IMF Board of Governors to allocate Special […]
Aya Gold & Silver, a precious metals mining company, has announced that it has identified a new mineralized zone, which stretches over four kilometers in length, at the level of the silver deposit of Imiter bis. Imiter bis silver deposit is located 150 kilometers from Ouarzazate and five kilometers from Managem’s Imiter Mine, which is […]
The European Bank for Reconstruction and Development (EBRD) has rubber-stamped the loan of $25 million for Egypt-based United Metals Company (UMC). The funding is aimed at backing the company’s working capital needs amidst the COVID-19 pandemic. The loan will enhance the Company’s financial resilience to withstand the potential negative implications of the COVID-19 pandemic through […]
Morocco ranked second in the Arab world in terms of credit portfolio granted by microcredit associations by the end of 2020, according to the Arab Monetary Fund (AMF). The outstanding total of these credits amounted to $760 million at the end of the past year, the AMF said in its annual report on financial stability […]
A law governing the setting up of a military industry in Morocco has entered into force after it was published in the official gazette as the Kingdom plans to cut imports by locally manufacturing defense equipment. The law lays down requirements for licenses for the setting up of plants to manufacture weapons, ammunition, and military […]
Etisalat, the UAE’s biggest telecoms operator, increased its ownership in Etisalat Investment North Africa to 100 per cent by acquiring the Abu Dhabi Fund for Development’s 8.7 per cent stake in EINA, Etisalat said in a regulatory filing on Tuesday. The deal increases Etisalat Group’s effective ownership in Maroc Telecom Group to 53 per […]
At the invitation of China, Morocco is participating, as guest of honor, in the fifth China-Arab States Expo, which will be held from Aug. 19 to 22 in Yinchuan, the regional capital of Ningxia Hui Autonomous Region in northwest China. Morocco, as the guest of honor, will organize several events to showcase its culture and […]
Morocco plans to add 3 Canadair CL 515 water bombing aircrafts to its firefighting fleet which counts so far five operational planes, Moroccan military news group FAR Maroc said. Morocco is the only country in Africa which operates five Canadair aircrafts which have been currently deployed to extinguish fires in northern Morocco The new Canadair-CL […]
The Al-Quds hospital of specialities was inaugurated, on Monday in the Gaza Strip, after it was rebuilt and equipped thanks to Moroccan funding. The opening ceremony of the hospital, which was destroyed during the Israeli aggression against the Gaza Strip in 2008, was attended by the head of the Moroccan representative office in Ramallah, Mohamed […]