First Independent Mena Newspaper
Voices are rising in Morocco for a new donation campaign for the anti-coronavirus fund, which now has 9 billion dirhams ($975 mln). The fund was spurred by King Mohammed VI when the virus first outbroke in Morocco and gathered some 33.7 billion dirhams ($3.7 bln) thanks to generous donations from Moroccan enterprises and individuals. The […]
Morocco’s automotive industry is the most attractive market in the MENA region for production opportunities, said Fitch Solutions Foundation in its latest report. “Morocco is the top ranked MENA market in our Autos Production Risk/Reward Index, thanks to a robust outlook for production growth, low labor costs and positive industry policy”, added the Fitch think-thank, […]
The outbreak of the coronavirus has crippled the global supply chain for the automotive sector which, coupled with a demand crisis, has triggered a lethargy in the car industry fabric globally with Morocco being no exception. Morocco has made the automotive sector a pillar of its industrial strategy attracting large-scale investments by world giants such […]
The embezzlement of humanitarian aid is endemic among the corrupt Polisario and Algerian officials, despite international outcry by the EU and humanitarian NGOS. This time, aid worth $12 million was derailed to enrich merciless separatist officials in the Polisario-run Tindouf camps. The aid was offered in April and May by the EU, Canada, Switzerland, Italy, […]
The $4.8 billion strategic investment fund, set up part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact, will give priority to productive activities and back up the financing of major investment projects, said, on Tuesday in Rabat, Minister of Economy & finance Mohamed Benchaâboun. […]
Morocco’s phosphates and fertilizer producer, OCP, partnered with German and Belgian partners, Budenheim and Prayon, to build a new plant for the production of purified phosphoric acid. This will be achieved through their subsidiary Euro Maroc Phosphor (EMAPHOS) in a project that will help the OCP consolidate its global leadership in the production of Purified […]
The European Bank for Reconstruction and Development (EBRD) approved on Tuesday a €40 million loan package to Moroccan bank “Crédit Immobilier et Hôtelier” to enable it enhance the resilience of local trade and businesses affected by covid-19 pandemic. Under the agreement sealed by the two parties, the EBRD will provide a €20 million loan to […]
Canadian mining company Aya Gold & Silver has launched lately the feasibility study for the expansion of the Moroccan Zgounder Silver Mine, near Ouarzazate. AYA says the expansion of its operations in the Moroccan mine will help the company increase its production targeting 2,000tpd. “The strong silver fundamentals as well as our planned drilling exploration […]
Lebanon Sunday garnered €250 million ($294.5 million) in pledges at a virtual international conference of donors, led by France’s President Emmanuel Macron. The conference was meant to help the Middle East country cope with the aftermath of last week deadly explosions at Beirut port. The conference was attended by a dozen of world leaders who, […]
Morocco is unrelenting in its fight against contraband. The North African country has taken a series of measures to crackdown on smuggling while offering alternatives to the locals, basically trough a free economic zone. Works are already in progress to build the zone, which shall offer retailers in the cities near the occupied enclave of […]