First Independent Mena Newspaper
The World Bank’s new president, David Malpass, announced over the week plans to boost lending to African countries to help fight poverty. Malpass made the statement after touring Madagascar, Ethiopia and Mozambique on April 29-May 3. He met with these countries’ leaders and stakeholders and visited World Bank-funded projects. Africa is working at reducing poverty […]
Morocco’s Office National de L’Electricité et de L’Eau Potable (ONEE) and British upstream gas company Sound Energy PLC are conducting negotiations to conclude a binding agreement on the purchase of Tendrara’s gas. The announcement was made by Sound Energy which said that it received an offer from the Moroccan government to purchase its Tendrara’s gas. […]
The Canadian aerospace firm Bombardier is to sell its aerostructures businesses in Morocco and Northern Ireland within the frame of the company’s new strategy aimed at consolidating all its aerospace assets into a single and integrated business. In a statement released Thursday, Bombardier announced “the strategic formation of Bombardier Aviation, consolidating all aerospace assets into […]
King Mohammed VI has appointed members of the two commissions, the “Transfer Commission” and the “Evaluation Body” that will supervise the planned privatization of a number of public institutions that will bring in some 10 billion Dirhams. The Transfer Commission includes Zouhair Chorfi, Secretary General of the Ministry of Finance; Fouzia Zaaboul, Director of the […]
Morocco’s central bank, Bank Al-Maghrib (BAM) will hold its key policy rate at 2.25 pc in 2019 due to subdued inflation and a neutral shift in US Fed policy, says Fitch Solutions in its latest report on the North African Kingdom. In a bid to protect foreign exchange reserves and limit imported inflation, BAM will […]
Agentis, a Moroccan company with proven expertise in the field of health infrastructure and Medical equipment manufacturing, has won a $97 million contract in Côte D’Ivoire to build two regional hospitals. The contract signed last weekend in the West African nation concerns the construction and equipment of two Regional Hospitals in the cities of Aboisso […]
China Communication Construction Company Ltd. (CCCC), and China Road and Bridge Corporation (CRBC) will take over the construction and development of Mohammed VI Tangier Tech City that was initially set to be partly carried out by Chinese group HAITE. The related Memorandum of Understanding was signed by Tangier Tech Development Company (SATT) and the two […]
Morocco braces for a cereals yield of 61 million quintals in 2019, that is 19% less than an average year, said the agriculture ministry noting the sugar beetroot harvest will be good standing at 70 tons per hectares. Rainfall was 11% less compared to an average year and 23% less compared to last year, the […]
Magna, one of Canada’s largest automobile parts manufacturers, has launched construction works for the building of a new facility in Kenitra, Morocco, to supply global automakers with exterior and interior mirror systems. The 61,400-square-foot facility represents an investment of $11.3 million by Magna and is expected to create up to 275 jobs. Production at the […]
redator Oil & Gas Holdings said it made a significant gas discovery in the Guercif permit in eastern Morocco. The discovery was described by the British company as “another very positive step” with a best estimate recoverable prospective resources of 474 billion cubic feet. The company plans to sell the gas from the permit to […]