First Independent Mena Newspaper
Japan’s Furukawa Electric opened in Tangier Automotive City a plant specializing in optical fiber, the first for the Japanese giant in North Africa and the Middle East. The plant was built for a cost of 200 million dirhams over a surface area of 31,000 square meters and is expected to create 200 direct jobs. “Furukawa’s […]
Morocco’s BCP Bank and the African Development Bank teamed up in a $100 million agreement to boost trade between African countries. The deal (risk participation agreement) provides for cooperation to promote trade between African states by meeting the growing demand on financing transactions in the continent, the Moroccan bank said in a statement. The BCP […]
Cherry Blossom vessel, loaded with 55,000 tons of Moroccan phosphates, which has been illegally seized by South African authorities since May 1, last year, has just left the South African territorial waters and her cargo has been returned to its legitimate owner, Morocco’s phosphates company, OCP. It all started last May, when a South African […]
Morocco has the second biggest mining sector in the Middle East and North Africa, BMI, a Fitch Group company, said in a recent study. BMI’s Risk Reward Index showed that Morocco came second with a score of 56.3 out of 100 preceded by Saudi Arabia ranking first with a score of 59.5. The study explained […]
Morocco’s unemployment rate fell to 10.5% in the first quarter of 2018 as Moroccan economy managed to create 116,000 jobs in a year. Last year, unemployment rate stood at 10.7%, the High Commission for Planning (HCP) said in its latest statistics. Services, agriculture and construction created 50,000, 43,000 and 32,000 jobs respectively. Manufacturing lost 9,000 […]
Casablanca Finance City (CFC) signed a partnership agreement with Xicheng District Financial Development Promotion Center (XDFDPC) to promote investment opportunities between the two countries. The agreement is in line with CFC’s expansion strategy after it signed similar agreements with London, Luxembourg, Montreal, Paris, Astana and Busan. Under this agreement, the two parties shall cooperate in […]
King Mohammed VI arrived Saturday in Brazzaville to take part in the first Summit of Heads of State and Government of the Climate Commission and the Blue Fund for the Congo Basin as “special guest”. After the summit, which will take place on Sunday, the King will pay a working and friendship visit to the […]
Morocco raised its automotive industry target to 1 million vehicle by 2025 in light of the positive results shown by the sector. Minister of Industry Moulay Hafid El Alamy voiced confidence in achieving such a goal, which could generate 200 billion dirhams. He said the current performance of Morocco’s car industry is moving at a […]
The Moroccan tourist city of Marrakech will host the joint annual meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in October 2021. The decision was made by the Boards of Governors of the two institutions. It shows the trust Morocco enjoys at the international scene. The joint WB-IMF meetings bring […]
Moroccan airports registered 1.85 million passengers in March, up 17.69% compared to the same period last year, Morocco’s airport authority (ONDA) said. The most significant increase was registered in passengers heading to South America, posting a 50.56 percent rise, followed by North America with 28%, ONDA said in a statement. Casablanca airport accounted 40% of […]