First Independent Mena Newspaper
Tough times ahead for Morocco to cushion the impact of the coronavirus after head of the government Saad Eddine El Othmani asked public administrations to freeze hiring in all sectors next year with the exception of education, health and security. The move will follow a review of the budget law, which shall attach importance to […]
Morocco’s trade deficit shrunk 12% in May as the coronavirus pandemic reduced demand both for imports and exports, the foreign exchange agency said. The 16.9% drop in imports to $17 billion from January to May came as a result of a fall in all imports except cereals, the agency said. Exports however dwindled 20% to […]
The coronavirus has imposed the need for an amendment of the budget law that will gear focus to education, health, social protection and digital transformation. A cabinet meeting was chaired in this respect Wednesday by head of the Government Saad Eddine EL Othmani to discuss the broad line of the new appropriation bill. The restrictive […]
Humania, a private healthcare company, has secured a $108.5 million funding from international financial institutions to launch medical care projects in Morocco and Egypt. The International Finance Corporation (IFC) contributes $45 million to this project, while $ 63.5 million were mobilized from other investors, including $43.5 million from the Danish Investment Fund for Developing countries […]
The European Union and dozens of donor nations have pledged a total of $7.7 billion to help tackle the humanitarian crisis deepening in Syria and neighboring countries hosting millions of Syrian refugees as the coronavirus pandemic and economic crises compound the misery of nearly a decade of civil war. EU Crisis Management Commissioner Janez Lenarcic […]
The Moroccan businesses interested in adopting green technologies will benefit from a €21.1 million funding, part of a program sponsored by the European Bank for Reconstruction & Development (EBRD). The financial support will help the beneficiaries reduce their costs by implementing climate adaptation measures, energy-efficient and renewable-energy technologies, which will improve their overall competitiveness, says […]
Some 2.5 million handicraftsmen and their dependents will finally have access to social protection after the government approved a law to enlist them in the private sector pension fund CNSS. The new law was presented by tourism and handicrafts minister Nadia Fettah Alaoui to MPs as part of a reform that aims to fill a […]
The UK-based Sound Energy Company has announced advanced talks with unnamed Moroccan partner for the purchase of LNG to be produced from Tendrara concession, onshore Morocco. Under an agreement sealed lately by the two sides, Sound Energy pledges to produce and sell to the “Partner”, for ten years, 100 million standard cubic meters of gas […]
Morocco’s phosphate group OCP has shown resilience and agility amid the coronavirus crisis and is forging ahead to bolster its leadership position in the African fertilizers market. The group maintains its fertilizers factories in Ghana, Nigeria and Ethiopia unchanged and expects to switch them on by 2024, the OCP told Reuters. Nigeria plant in particular […]
The new economic zone whose works were launched a few weeks ago in Fnideq has officially come into being after its legal status was recently published in the Official Gazette. Under the decree, the public company managing the activity of the nearby Tangier Med Port, Tanger Med Special Agency (TMSA), has received government approval to […]