First Independent Mena Newspaper
Bank Al-Maghrib, Morocco’s Central Bank, and the International Finance Corporation, member of the World Bank group, held Thursday an international conference on Public Credit Registry best practice, focusing on how credit reporting data can support regulators’ institutional functions and help ensure financial stability. The joint work is part of a wider project aiming to strengthen […]
President of The European Bank for Reconstruction and Development (EBRD), Suma Chakrabarti, who is paying a visit to Morocco underscored that EBRD will continue supporting Morocco in priority areas such as promoting youth employment, facilitating the setting up of SMEs and encouraging green economy projects. Chakrabarti said, during a meeting with the head of government […]
Banque Centrale Populaire (BCP), one of Morocco’s three biggest lenders, continues its expansion in Africa with the acquisition of Banque des Mascareigne in Madagascar and the opening of a subsidiary in Mauritius, thus becoming the first Moroccan bank to operate in the island. With this acquisition, BCP reinforces footprint in the Indian Ocean as part […]
Morocco closed 2017 with a record number of 11.35 million tourists visiting the country, that is a 10% rise compared to the previous year. The increase in foreign visitors covered traditional tourist emitting markets: France, Spain and Germany as well as emerging markets including China and Brazil, the tourism ministry said a statement. Revenues of […]
French carmaker PSA Group will source 30% of parts for cars that will be assembled in the Algerian plant from Iran, said a senior official of Iranian Auto Parts Manufacturers Association. An agreement was signed in this respect between PSA Group and car part manufacturer Iran Khodro (IKCO), Mohammad Reza Najafi-Manesh, a member of the […]
French train manufacturer Alstom has won a €130 Mln contract awarded by Moroccan National Railway Operator ONCF for the purchase of 30 electric Prima locomotives. The ONCF had launched in March 2017 an international tender for this project. Alstom pledges to ensure service and maintenance of the 30 Prima M4 locomotives after their delivery. The […]
The Madrid-based company Gestamp, which specializes in the design, development and manufacture of highly engineered metal components for the automotive industry, has unveiled plans to build a plant in the Moroccan town of Kenitra, located around 40 km away from Rabat, next to the plant that PSA is building in the town. The facility is […]
Algeria was ranked among the ten worst performing countries in the 2018 Economic Freedom Index, established by The Heritage Foundation, an American public policy think tank based in Washington, DC. Algeria scored 44.7/100 taking the 172 place in a ranking of 186 countries. Algeria came ahead of only 8 countries, some of them happened to […]
French aircraft and service maker, Daher, has opened its new plant in Tangier, expanding its production operations in the North African nation. The new site strengthens the company’s position in Morocco as an aircraft manufacturer, equipment supplier and service provider. It follows a first site in Tangier in 2001 and a second in Casablanca in […]
German conglomerate and largest industrial manufacturing company in Europe, Siemens, has categorically rejected the blackmail orchestrated by the Algeria-backed Polisario to slur the group’s investments in the Moroccan Sahara, saying that its investment policy in the region will be maintained. The Polisario and its mentors, which sustained serious political and diplomatic setbacks in the UN, […]