First Independent Mena Newspaper
Bombardier announced this week it has reached amended definitive agreement to sell its aerostructures business in Casablanca, Belfast, and Dallas to Spirit AeroSystems Holding Inc. of Wichita, Kansas. The initial purchase agreement between the two companies was announced in October 2019 for a cash consideration of $500 million, plus the assumption of liabilities with a […]
The Moroccan tourism, the hardest hit sector by the Covid-19 global pandemic, gets a precious boost from the low-cost carrier Ryanair which resumed on Oct.25 its operations in this North African country. The announcement was made by Mrs. Jason McGuinness, commercial director of the European airline. “We are pleased to support the Moroccan tourism sector […]
Morocco’s second largest bank, BCP, is said to be planning to allow in a major Asian bank as stakeholder in a bid to diversify its portfolio to Asia, Bloomberg reported. “The sale, which could be enacted through a cash injection, is the linchpin of a five-year strategy starting in 2021 that the Casablanca-based lender plans […]
Morocco’s Tanger Med Industrial Zone ranked 2nd most attractive on a Financial Times FDI Intelligence ranking. Tanger Med Industrial Zone stood out in the ranking, dubbed FDI Global Free Zones of the Year 2020, which compares the competitiveness and attractiveness of 100 platforms across the world. Tanger Med was outperformed only by Dubai Multi Commodities […]
A group of British tourists landed Saturday in the coastal city of Agadir, becoming the first batch of international holiday makers to visit the North African country since March owing to the covid-19 pandemic. Low-cost airline Ryanair, Aujoud’hui.ma reports, landed at the city airport of Al Massira with the visitors welcomed by local tourism and […]
In accordance with Royal guidance, the government has elaborated a draft budget that provides for special measures to keep jobs, promote youth employment, generalize health insurance and reform civil service. The government, which examined the draft budget in its council, said in a statement that priority is attached to shoring up the economy through offering […]
Moroccan Minister of Economy and Finance Mohamed Benchaâboun highlighted the priorities of Morocco’s economic recovery plan at a virtual conference held Wednesday as part of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank (WB). To help its economy recover from the covid-19 crisis, Morocco adopted a stimulus plan focused on […]
The United Nations Economic Commission for Africa is concerned about the alarming decline in remittances from African Diaspora. With the global economic crisis, these Diasporas are sending less money to their countries of origin. This year, the decline is expected to reach 21% or $18 billion less than in 2019. The anti-poverty organization ONE and […]
The Moroccan government plans an increase in public investments to 230 billion dirhams and an injection of 45 billion dirhams to help the economy recover from the coronavirus pandemic repercussions. The measure was laid down in a draft budget law approved at a ministerial council chaired by King Mohammed VI at the Royal Palace in […]
Despite a difficult context marked by the COVID-19 pandemic and disruption of supply chains, Morocco’s farm exports rose 8% to 4 billion dollars, agriculture minister Aziz Akhannouch said. Compared to 2010, exports jumped 130% as Morocco implements sector-based strategies that aim at boosting the agricultural added value, promote exports and save irrigation water. Vegetables exports […]