First Independent Mena Newspaper
Saudi Arabia Sunday announced it has taken leadership of the Group of Twenty or G20, until the meeting of its leaders in the kingdom next year in November. The Gulf country takes over from Japan and becomes the first Arab country to assume the presidency of the powerful organization encompassing leaders of developed and developing […]
The deepening trade deficit with Turkey and the increasing complaints of Moroccan enterprises have finally pushed Morocco’s trade and industry minister Moulay Hafid El Alamy to ask for a rebalancing of the Free Trade Agreement with Turkey. Speaking in Istanbul, the Moroccan minister told his Turkish peer, Ruhsar Pekcan that Morocco wants a review of […]
US energy giant Chevron signed a deal with Morocco’s Akwa Group to make the Kingdom its lubricants manufacturing and exporting hub to Africa. An agreement was signed in that regard between Chevron and Akwa Group, bringing the share of Chevron from 25% to 50% of Akwa Group subsidiary Afriquia Lubrifiants. Under this deal, Chevron will […]
Germany will contribute €571 million to the implementation of Morocco’s reforms seeking to improve business and investment climate, update the financial sector and strengthen advanced regionalization. The reform partnership MoU, signed Friday in Berlin, falls in the frame of the G20 Initiative Compact with Africa and aims at developing further the potential of the private […]
The African Development Bank (AfDB) approved a €100 million loan for the Municipal Equipment Fund (FEC) to finance new investment and public infrastructure projects in Morocco. These projects will help improve the quality of public services, especially in rural areas as well as spur revenue generating activities, according to an AfDB press release. “We are […]
Morocco’s central bank, known as Bank Al-Maghrib, received ISO 37001 certification in recognition for its Anti-Corruption Management System. The bank has received this certification on its 60th anniversary following the audit conducted by Euro-Compliance in October 2019, Bank Al-Maghrib said in a press release. This certification will further strengthen Bank Al-Maghrib’s actions, in terms of […]
The European Bank for Reconstruction and Development will open next Monday an office in Agadir, said on Thursday the Bank’s Vice-Pdt Alain Pilloux, who is currently on a working visit to Morocco. “I will inaugurate a new EBRD office in Agadir Dec.02, after having opened recently another one in Tangier”, said Mr. Alain Pilloux at […]
Morocco’s Central Bank, Bank Al-Maghrib, and the European Bank for Reconstruction and Development organized on Wednesday in Rabat a workshop on London Inter-bank Offered Rate (LIBOR) reform and the new money market benchmark in the North African country. Participants in the workshop discussed the implications of changes in the benchmark indexes used on the international […]
French carmaker PSA and Morocco’s car technology industry center (CETIEV) joined efforts to boost research and development in the country, a move that would result in technology transfer. Key to Morocco’s industrial strategy is technology transfer through attracting large-scale investments that spur the growth of local suppliers in order to increase the rate of locally […]
Chinese Citic Dicastal group, the largest producer of aluminum wheels in the world, launched a second factory worth €350 million in Morocco’s Kenitra, one year after opening a plant in the same area. Part of a project dubbed, Citic Dicastal Africa, the new plant stretches over a surface area of 30,000 square meters and will […]