First Independent Mena Newspaper
The European Bank for Reconstruction and Development (EBRD) has granted Novares Morocco, the Moroccan subsidiary of the French automotive supplier Novares Group, a €16.5 million loan. The amount will be used to finance the Novares project in Morocco, supplying the plants of Peugeot PSA in Kenitra and of Renault in Tangiers. The funds will also […]
Despite major challenges, the MENA region can capitalize on the opportunities provided by the strengthening of global economy and provide a better, more equitable, and prosperous future for its citizens, says a report released by the International Monetary Fund (IMF). The region’s highly educated and tech-savvy youth have tremendous potential to spur growth if given […]
Moroccan low-cost airline, Air Arabia, launched a direct air route between Agadir and Birmingham with the aim of attracting more British tourists to Morocco’s Atlantic tourist hub. The new air link will help boost tourist arrivals to Agadir, which, together with Marrakech, accounted for 60% of tourist nights spent in the Kingdom. Agadir-Birmingham flights are […]
As part of its External Investment Plan, the EU Tuesday gave its green light to a package of financial guarantee programs worth around €800 million. This will help to leverage an estimated €8-9 billion in public and private investment in Africa and the Neighborhood, the European Commission announced in a press release. The decision is […]
As the Sahel region experiences its worst food and nutrition crisis in five years and continued insecurity, the European Commission has announced Tuesday a humanitarian aid package worth €191.3 million. Over one third of the amount, i.e. €70,6 to be shared between Mali and Nigeria. “There is no time to waste with many affected by […]
Morocco has voiced its readiness to contribute to all initiatives seeking to enhance further Chinese-Arab partnership, based on the principle of respect of the States’ sovereignty and non-interference in their internal affairs. Addressing the 8th China-Arab States cooperation forum held Tuesday in Beijing, Moroccan Foreign Minister Nasser Bourita said the reinforcement of partnership between China […]
The number of tourists visiting Morocco between January and May increased 9% to 4.1 million compared with the same period last year. International tourist arrivals rose 15% while Moroccans living abroad visiting their homeland dropped 1%, the tourism ministry said in its latest statistics. Arrivals from main tourist emitting markets showed a 16% increase in […]
GAZ, a leading manufacturer of commercial vehicles in Russia, has started selling a range of commercial vehicles in Morocco, in cooperation with its new distribution partner, Africa Motors (Auto Hall Group). The group hopes to make of Morocco a platform to further develop its business in the rest of African countries. The first model put […]
Morocco’s aeronautic sector continues to attract more investors and major manufacturers thanks to the country’s political stability, low-cost labor, tax incentives and geostrategic position. The burgeoning sector expanded with the opening in Casablanca suburbs of two new plants by STTS, a subsidy of French industrial group SATYS specialist in aircraft painting, and the Société franco-marocaine […]
Oman Air opened this month the Casablanca Muscat direct air route as the two countries see promising prospects for their bilateral relations. The inaugural flight WY171 was operated by Dreamliner (787-800) and is scheduled to depart Muscat four times per week flying to the Casablanca International Airport. The new air route is part of Oman […]