First Independent Mena Newspaper
The 2018 crop year takes place in best conditions thanks to recent rains, which lifted harvest expectations to 98.2 million quintals, Agriculture, Fisheries and Rural Development Minister announced. Morocco witnessed an accumulated rainfall of 370 mm that is 16% up compared to a normal year, conducive to dam filling rate standing at 67% by mid-April, […]
King Mohammed VI received Thursday at the Royal Palace in Rabat Head of the Government Saâd-Eddine El Othmani, who presented to the Sovereign a strategy meant to reform the Regional Investment Centers, whose purpose is to assist investors, both national and foreign, and to facilitate the paperwork for the setting up of projects. The audience, […]
The World Bank urged Morocco to adopt a new growth model oriented towards boosting exports and strengthening the private sector. “Morocco’s growth model shows signs of weaknesses as it is confronted with a series of sustainability issues that risk, with varying degrees of intensity, impeding further progress,” the World Bank said in its April economic […]
Morocco and the European Union have started this Thursday in Rabat negotiations for the renewal of the fisheries partnership protocol, said a statement from the Ministry of Agriculture, Maritime Fisheries, Rural Development and Waters and Forests. These talks kicked off after the Council of the European Union last Monday confirmed the continuation of the partnership […]
Morocco’s largest telecom operator “Maroc Telecom” completed the acquisition of a 10% stake in ONATEL on the Abidjan Regional Stock Exchange for €41 million, bringing its shareholding in the Burkina Faso subsidiary to 61%. This transaction, at a price of CFAF 8,000 per share, allows Maroc Telecom to strengthen its stake in the leading operator […]
Morocco extradited to the USA Renwick Haddow, a British citizen accused of fraud related to Bitcoin, the US department of Justice (DOJ) said. The British citizen is accused of defrauding investors of More than $36 Million, the DOJ said in a statement. The DoJ complaint alleges Haddow, 49, “misappropriated investor funds” and “made false and […]
The Moroccan government said that it plans to create 1.2 million jobs in the next upcoming four years as the unemployment rate hits 10.2%. Head of the government, Saad Eddine El Othmani, said that by the end of his cabinet term, 1.2 million jobs will have been created. He said the inactive population who are […]
South Korean wheel manufacturer, Hands Corporation, will soon operate a factory worth 4.33 billion dirhams ($472 million) in Tangier. A ceremony marking the launch of construction works of the new plant was attended by Morocco’s Industry and Investment Minister Moulay Hafid Elalamy who said that the 23 hectare-factory will create 1300 direct jobs and will […]
The informal sector makes up 20% of Morocco’s GDP said a study conducted by the association of Morocco’s employers (CGEM). The study shows that the textile sector remains the most affected with the informal economy rising up to 54% followed by road transport 32%, construction 31% and agri-food industry 26%. The informal sector employs 2.4 […]
Morocco’s Economy and Finance Minister Mohamed Boussaid was selected Chairman of the Board of Governors of the Jeddah-based Islamic Development Bank Group (IDB) for a year. The tenure will end at the end of the 44th Council meeting, scheduled to take place in Marrakech in April 2019, said a statement from the Finance Ministry. Boussaid […]