First Independent Mena Newspaper
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 […]
The German carmaker BMW announced Tuesday it will from next year stop sourcing cobalt mineral from DR Congo and will shift to Morocco and Australia where working conditions are acceptable and not linked to child labor. The German company is planning to start producing electrical cars next year. BMW and other world carmakers are under […]
Morocco’s BMCE Bank of Africa launched Tuesday in Shanghai, China, its first branch in the world’s second largest economy as it positions itself as the channel between Chinese investors and Africa. Present in China for over two decades as a representation office, MBCE Bank of Africa’s new branch, is located in the financial district of […]
The Tunisian development, finance and international cooperation ministry Tuesday said the North African country has officially become full member of the Asian Infrastructure Investment Bank (AIIB), based in Beijing, China. “The AIIB approved the accession of Tunisia on April 22,” the ministry said in a statement. Tunisia, which made the request to join the financial […]
Tunisian tourism has scored a 17.4 percent in the number of arrivals in the first quarter of the year, while yearly revenues of the sector have jumped by 35.1 percent from last year’s proceedings. The figures were reported by London-based Asharq Al-Awsat daily, which quoted tourism minister Rene Trabelsi. The increase generated $262.6 million in […]