First Independent Mena Newspaper
Tangier is undergoing a facelift with the inauguration Thursday by King Mohammed VI of a fishing port and Morocco’s largest marina, completed as part of a coastal upgrading program worth 6 billion dirhams. Built for a total cost of 1.18 billion dirhams, the fishing port is equipped with the latest technology and advanced equipment to […]
Foreign Direct Investment flows in Morocco increased by 23 per cent in 2017 to reach $2.7 billion, while FDI to the rest of North Africa dropped by 4 per cent, according to UNCTAD’s World Investment Report 2018 (WIR). The FDI injected in the North African Kingdom went up thanks to considerable investment into new car […]
UAE airlines, Emirates, said it doubled the number of Chinese passengers and increased by 60% that of Japanese travelers visiting Morocco in 2017 compared to 2016. The company said in a statement that the introduction of A380 aircrafts has helped it contribute to promote Morocco’s tourism among Far East tourists. The company daily links Casablanca […]
Moroccan subsidiary of French diary company Centrale Danone has announced heavy losses estimated at 150 million Dirham for the first half of the year due to a continuing consumer boycott. The boycott was launched on April 20 and caused the company to suffer a steep deficit after posting 56 million Dirham profits the same period […]
Moroccan Minister of Agriculture Aziz Akhannouch and Tariq Sijilmassi, Chairman of banking Group Crédit Agricole, chaired on Tuesday, in Rabat, the signing ceremony of an agreement with the farmers’ cooperatives and their Union (UNCAM) and the National Federation of millers. Under the agreement, Crédit Agricole bank will provide agricultural cooperatives soft loans to enable them […]
Despite a sizable fiscal consolidation in 2017, the fiscal and current account deficits remain large in Algeria, which continues to face important challenges posed by the fall in oil prices four years ago, the IMF said. The fall in oil revenues was mostly felt in Algeria’s reserves which fell by $17 billion to $96 billion […]
Morocco has a booming aeronautics industry attracting world giants from Bombardier to Boeing bringing the local sourcing rate to 29% currently with the goal of reaching 35% by 2020. The industrial clusters created to support this industry have proven their efficiency towards increasing the local sourcing rate up from 17% in 2016. Industry Minister, Moulay […]
As it continues its sealed border policy with neighbors, combined with import restrictions, Algeria deepens its isolation in a dynamic African continent, further undermining prospects of economic diversification away from oil and gas. In a two-speed Africa where countries post two-digit growth rate, Algeria lags behind due to the short-sightedness of its leaders who failed […]
Morocco’s thriving automotive industry continues to attract foreign investors and car parts markers looking for business and growth opportunities. Among these investors, Adient, the global leader in automotive seating, which has announced the opening of its first plant in the North African Kingdom. The plant, based in Kenitra, will expand Adient’s fabrics business, which designs […]
The UK-based mining exploration company Altus Strategies Plc is expanding its presence in Morocco. Through its 100% owned subsidiary Aterian Resource Ltd, this company has obtained new exploration licenses for zinc and copper in the North African Kingdom. The new permits will enable Altus engineers to carry out exploration works in Ammas, Takzim Est and […]