First Independent Mena Newspaper
Morocco’s automotive sector was the largest in Africa in 2017 with an output of 345,000 cars, surpassing South Africa’s production of 331,000 cars, South African business news outlet, IOL, said. “Morocco posed a threat to South Africa’s automotive industry because it was about 16km from Europe and focused on that market rather than sub-Saharan Africa,” […]
The US has severely criticized Algeria’s protectionism as detrimental to trade and to the development of Algerian enterprises and US exporters alike. The US rebuke was expressed by Myron Brilliant, executive vice president and head of International Affairs at the U.S. Chamber of Commerce who was speaking to the press in Algiers. “The US chamber […]
The Polisario has incurred a new setback in its legal maneuvers against Morocco after the Kingdom’s phosphate company, OCP, restored ownership of a 55,000 tons of phosphates rock unlawfully held in South Africa following a legal challenge by the Polisario. The cargo on board Cherry Blossom was seized in South Africa since May 2017 after […]
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 […]