First Independent Mena Newspaper
BMCE Bank of Africa signed an agreement to build Africa’s tallest tower in Rabat with State-owned giant China Railway Construction Corporation (CRCC) and the General Construction Company of Casablanca (TGCC). Speaking following the signing ceremony in Casablanca, CEO of BMCE Bank of Africa said that the new edifice, which will be known as “Rabat Tower”, […]
Morocco’s city of Marrakech, one of the world most population tourist destinations, will host the 30th World LPG Forum October 3-5. This global event will be bring together key international agencies, policy makers, The forum’s program features keynote address by Moroccan minister of energy, mines and sustainable development Aziz Rebbah, presentations by experts and debates […]
Morocco’s foreign exchange reserves stood at 201.5 billion Dirhams by July 2017, shrinking 16.4% compared to the same period last year, the Central Bank, Bank Al Maghrib said. The Bank said it maintains key interest rate at 2.33%, adding that the exchanges volume rose from 5.4 billion to 8.2 billion DH. The drop in Morocco’s […]
The African Development Bank (AfDB) approved a loan of $200 million to Morocco to boost the country’s industrialization plan, local media said. The loan will help fund the first phase of the support program of the Industrial Acceleration Plan, which aims to create 500,000 jobs by 2020 and to increase the share of industry in […]
Turkey and Israel are seemingly set to finalize the deal on a pipeline that will connect the two countries before the end of the current year, during an official visit to Tel Aviv by Turkish Energy Minister Berat Albayrak. The Turkish official’s visit to Israel was announced by Israeli Energy Minister Yuval Steinitz, on the […]
Capital markets are reasonably deep and well developed in Morocco wherein institutional investors buy long-term senior and subordinated bonds issued by Moroccan banks, says Fitch Ratings in its latest report on Moroccan retail housing finance market. The introduction of a covered bonds market in Morocco would support continued strong growth of retail mortgage lending, adds […]
Morocco’s Banque Centrale Populaire (BCP) Group has become the largest banking group in Niger, after it finalized Tuesday the acquisition of the International Bank for Africa, so far the second-largest banking institution in the African country. With the completion of this transaction, the BCP Group holds, through its subsidiary ABI, 69.51% of the capital. BCP […]
The production of the millionth car by the Tangier Renault plant marks the success of a unique public-private partnership putting Morocco on the map of the global automotive industry, said Industry and Investment Minister, Moulay Hafid Elalamy. Speaking Monday at a press conference on the occasion of the celebration of the export of the millionth […]
Morocco registered a trade surplus in its trade with Sub-Saharan Africa, which jumped from 1.3 billion dirhams in 2008 to 11.9 in 2016, said Morocco’s Foreign Exchange Office. Morocco’s trade with Sub-Saharan African countries posted a steady growth averaging 9.1% during the 2008-2016 period, said the Office in a report on trade between Sub-Saharan Africa […]
UK Sound Energy Company has reported success in its operations carried out in Koba-1 well at Sidi Moktar, onshore in Morocco. The company engineers have successfully re-entered, completed, perforated and flared gas at surface from the Argovian reservoir (historically the main producing reservoir in the Kechoula discovery). A five meter interval was perforated in the […]