First Independent Mena Newspaper
After losing all its legal battles launched at EU, UN, US Congress, Africa…against Morocco’s territorial integrity, its agricultural, fisheries and phosphate deals including Moroccan Sahara, the Polisario tried once again its disruptive game in New Zealand but to no success. The representative of the Polisario Front in Australia and New Zealand had lodged a complaint […]
Sofitel Royal Bay in the Moroccan southern Atlantic coastal city of Agadir will cease operating on June 30 as the lease contract comes to an end, Aujourd’hui.ma reports. Sofitel Agadir Royal Bay’s owner, ABS Holding, and the facility operator RISMA agreed not to extend the contract, which took effect in 2004, over the obsolescence of […]
The publicly listed company, Suez Canal Bank, says it will withdraw entirely from Middle East Oil Refinery (Midor), Zawya reports. The operation will generate $30.4 million for Suez Canal Bank as 1.27 percent stake (560,000 shares) will be sold to Egyptian General Petroleum Corporation (EGPC) at $54.7 per share. The financial service institution posted a […]
The Moroccan parliament is examining a draft law submitted by the government to protect tourism companies from becoming insolvent. The law 30.20 would enable businesses operating in the tourism sector including hotels, travel agencies and airlines to exchange bookings canceled over the coronavirus outbreak with a similar offer for a similar price. Speaking to MPs, […]
Despite the current global difficult situation triggered by covid-19 pandemic, Morocco’s exports of fruits & vegetables crossed this season the million-ton threshold, increasing by 6 pc to 1,077,000 ton. According to Moroccan ministry of agriculture, this shows the good performance and resilience of the local agribusiness which continues to expand and diversify its high quality […]
Morocco’s GDP will rebound by 4 pc in 2021 after a 2 pc decrease in 2020 due to the impact of the coronavirus pandemic, says the European Bank for Reconstruction and Development (EBRD). In its Regional Economic Prospects report published Wednesday, EBRD explains that the slowdown will be driven by a sharp decline in tourism, […]
Morocco-made facemasks have been cleared by French army for conforming to top safety standards and the north African country allowed their exports after satisfying domestic needs. A textile company based in Morocco has won a contract to supply the French army, local newspaper Assabah reported. Morocco has reached a production capacity of over 10 million […]
Morocco has amassed a reserve of 50 million masks to make sure there are enough to meet the domestic market’s demand after easing the coronavirus lockdown, Industry and Trade Minister Moulay Hafid Elalamy said. Speaking to MPs Monday, Elalamy shed light on the progress of Moroccan industry in making anti-coronavirus clothing and equipment as well […]
Morocco’s Central Bank, known as Bank Al Maghrib, asked banks not to pay 2019 dividends to shareholders in order to boost their capacity to dealing with the coronavirus repercussions. This recommendation comes after a series of measures including boosting three-fold bank’s refinancing capacity and measures to make loans more accessible for households and companies, the […]
Morocco’s leading phosphate company OCP and the Kenya National Trading Corporation (KNTC) have struck a partnership to improve farmers’ access to fertilizers at affordable prices. The partnership between the KNTC and OCP’s office in Kenya will ensure that farmers can get fertilizers at the right time, reported the Kenyan Daily Nation paper. KNTC managing director […]