First Independent Mena Newspaper
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 […]
The government council approved a decree setting up a strategic investment fund worth 45 billion dirhams to spur public-private investments. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) to help the economy recover from the coronavirus impact. The same council extended a health emergency decree for an extra month […]
Morocco’s battered tourism sector will receive a lifeline provided operators retain 80% of jobs, according to a public-private deal covering 2020-2022. The plan will help restore 2019 levels in two years through direct aid to the sector including through maintaining social support measures. This means the employees who had to stop working because of Covid-19 […]
There were 500,000 more unemployed people in Morocco by June 2020, compared to the same period last year, said the high commission for planning in its updated job market figures since the virus outbreak. The coronavirus and drought have caused a loss of 185,000 jobs in the rural world and 311,000 in urban areas, the […]
Morocco will set up a strategic investment fund worth $4.8 billion to help the economy recover from the coronavirus impact, Finance Minister Mohamed Benchaaboun said Tuesday at a news conference in Rabat. The fund is part of a stimulus package of 120 billion dirhams ($12.8 bln) unveiled by King Mohammed VI at the Throne Day […]
Morocco will expand social welfare protection to all its citizens within five years through a gradual approach, said Finance Minister Mohammed Benchaaboun, after King Mohammed VI urged in the State of the Nation speech on July 29 speeding up such a national project. Benchaaboun said the plan will proceed gradually with the first phase (2021-2023) […]