First Independent Mena Newspaper
As more wealthy tourists flock to Morocco, Marrakesh is reinventing itself with luxury hotels and resorts to attract its share, wrote the New York Times in an article on the new attractions of Morocco’s main tourist hub. Marrakech with its centuries-old medina and distinctive charm is lately experiencing the building of a flurry of luxury […]
The sovereign decision of Morocco to close its commercial border with Melilla and gear all commercial and container traffic to the nearby port of Beni Ansar continues to weigh on the economy of the Spanish occupied enclave. The autonomous authorities of Melilla have officially asked for the intervention of the Spanish government after the city’s […]
UK-based Sound Energy company has sealed a new 8 year petroleum deal including the areas previously covered by the Tendrara petroleum agreement and the Matarka reconnaissance license (“Greater Tendrara”) in addition to the existing Anoual petroleum agreement and the production concession application relating to the Tendrara gas discovery in Eastern Morocco. Commenting the deal, Sound […]
The population of the Moroccan southern provinces benefits from the fisheries and farm incomes reaped from the related agreements concluded between Morocco and the European Union. This was highlighted during a debate on the renewal of the farm agreement between the European Union (EU) and Morocco that took place Tuesday at the European Parliament Committee […]
The Tunisian government expects the economy to grow by 2.9% in 2018 and by 3.5% in 2019. In an interview with Reuters News Agency, Minister of Reforms Taoufik Rajhi said the government planned to reduce the budget deficit to 3.9 percent next year from the 4.9 percent forecast for 2018. According to data from the […]
Morocco and the World Bank started Monday in Rabat discussions on a set of issues, on top of which preschool education and the consolidated social register that will identify families deserving to benefit from social assistance programs. The discussions are held during the visit World Bank Vice President for the Middle East and North Africa […]
Some 5.15 million tourists visited Tunisia from January to August, posting a 17.5% increase compared to the same period in 2017. The Tunisian tourism ministry said that tourism revenues during the same period surged by 44%. The recovery of the tourist sector will help ease the country’s financial crisis after the 2015 Sousse terrorist attacks […]
King Mohammed VI has appointed Mohamed Benchaaboun as Minister of Economy and Finance in replacement of Mohamed Boussaid who had been sacked on August 1. The royal office announced in a statement that the King received Benchaaboun on Monday at the Royal Palace in Rabat and appointed him Minister of Economy and Finance. The King […]
The health of Algeria’s currency, the dinar, has always been measured against oil prices. The end of the era of expensive oil in late 2014 has sent the dinar dwindling in value as Algeria continues to squander its oil mantra avoiding painful reforms to diversify its economy. Since the beginning of this year, the dinar […]
The European Bank for Reconstruction & Development (EBRD) announced Wednesday a $44 million loan for the Egyptian dairy and juice producer, Beyti. The money will enable the company to refinance existing short-term loans with a longer tenor loan more suitable for its investment and development phase. The EBRD loan will also help the Egyptian company […]