First Independent Mena Newspaper
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 […]
The trade and financial war currently unfolding between the U.S. and Turkey is opening new opportunities and risks for the Moroccan economy, which has signed free trade agreements with both countries. With Turkey facing a currency crisis, President Donald Trump last week doubled tariffs on imports of steel and aluminum to offset the effects of […]
Emmerson company, which specializes in natural resources exploration and production, is developing the Khemisset Potash Project, in Northern Morocco. The project has a large JORC Resource Estimate and significant exploration potential with an accelerated development pathway targeting a low capex, high margin mine, says the company’s management. Khemisset is ideally located to benefit from the […]
Kuwait Monday dismissed reports that it has planned to inject $1.6 billion into the Turkish plummeting Lira which lost 40 per cent of its value against the US dollar amid the ongoing diplomatic crisis between Ankara and Washington. Kuwaiti Finance Minister Nayef Al-Hajraf discussed with his Turkish counterpart Berat Albayrak Turkey’s economic situation on Sunday […]
In the first five months of 2018, more than 100,000 Chinese tourists visited Morocco, which lifted the visa on Chinese nationals in 2016. Last year, they were 120,000 Chinese tourists among nearly 11 million tourists who visited the North African kingdom where Chinese restaurants are mushrooming. At the China-Morocco Tourism Forum held in Casablanca in […]
A study carried out this summer by ForwardKeys and market research company GfK shows that British holidaymakers are flocking back to North African countries; destinations that until recently were feared by many to be at risk of unrest or terrorism. The study which predicts future travel patterns by analysing booking transactions by travel agents shows […]
Tanger Med was ranked as the first container port in Africa and the 45th in the world in a survey by World Top Container Ports. With a capacity of 3 million containers, the Moroccan port has handled 3,312,409 containers in 2017 that is 11% over its capacity, the Port authority said in a statement. This […]
U.S. authorities announced Tuesday that Morocco has agreed to allow commercial imports of U.S. poultry meat and products into the country for the first time. The announcement was made U.S. Trade Representative Robert Lighthizer and U.S. Secretary of Agriculture Sonny Perdue. “The Trump Administration continues to prioritize the opening of new markets for U.S. agricultural […]