First Independent Mena Newspaper
The ventilator developed by Moroccan scientists for critically-ill covid-19 patients is currently undergoing clinical tests to prove its efficiency, safety and performance. Dubbed “iVent, this breathing machine, which has become a hot commodity with the outbreak of coronavirus pandemic, has been made by a team of Moroccan experts from Research Institute for Solar Energy and […]
Algeria has been pushing above its weight announcing ambitions to enter the Sahel market without having prepared the necessary infrastructure and competitiveness. Algeria opened a border crossing with Mauritania in 2018 to enable exports of foodstuff through trucks towards Mauritania’s capital Nouakchott. Most Algerian trucks depart from Tindouf, crossing a distance of nearly 3000 km, […]
Morocco’s spending on subsidies of basic consumer goods dropped to 2.2 billion dirhams by April, from 5 billion dirhams the same period last year. The drop in subsidies bill was mainly ascribed to the 68% decrease in the cost of butane gas as well as sugar prices. Morocco also subsidies flour. Therefore, it is expected […]
Morocco and Ethiopia are looking into ways of speeding up the implementation of the “Coalition for Access to Sustainable Energy”, an initiative launched by the two African countries during the Climate Action summit convened last year in New York. The initiative, which aims to ensure full access to energy for the least developed and other […]
The European Union will extend Morocco €100 million (1.1 billion dirhams) to support the financing of the health sector in the context of the Covid-19 crisis The related agreement was signed Tuesday by Economy & Finance Minister Mohamed Benchaâboun, Minister of Health Khalid Ait Taleb, and ambassador of the EU in Morocco, Claudia Wiedey, The […]
The Arab Monetary Fund has granted Morocco a $127 million loan to provide financial resources to meet the country’s needs amid the global COVID-19 crisis, the Arab financial institution announced this Wednesday in a statement. The loan agreement was signed earlier this month by Morocco’s Economy and Finance Minister Mohamed Benchaaboun and the General manager […]
Morocco’s economy has been hit hard by the coronavirus outbreak but plans have been set up to relaunch the economic activity through promoting state investments and fostering domestic consumption, Finance Minister Mohamed Benchaaboun said. The government is preparing conditions to relaunch the economy after the lockdown affected most sectors notably exporting businesses, Benchaaboun told MPs […]
Fitch Ratings has revised its outlook on Moroccan banks Attijariwafa Bank, Bank of Africa, and Credit Immobilier et Hotelier (CIH) to Negative from Stable, while affirming the three banks’ Long-Term Foreign-and Local-Currency Issuer Default Ratings (IDRs) at ‘BB+’. This comes after Fitch’s revision of the outlook on Morocco’s sovereign rating to Negative from Stable on […]
Since the outbreak of the coronavirus pandemic, Morocco adopted a set of preventive measures to face the looming health crisis. Part of the measures it adopted, Morocco imposed the compulsory wearing of masks and mobilized several industrial units to produce locally protective facemasks, a move that was described by international media a success story as […]
The struggling car industry on which Algeria pinned hopes to jump start its industry has received another bad news with the shutdown of a Kia assembly plant on the footsteps of Volkswagen. Long described as “disguised imports” Algeria’s policy of attracting car assembly plants since 2012 has so far showed disappointing results and came up […]