First Independent Mena Newspaper
Morocco’s flag carrier, Royal Air Maroc (RAM), will be operating three flights a week from Casablanca to Washington as of this September. The inaugural flight was launched on September 8 using the Boeing 787 Dreamliner, the Moroccan airline said in a statement. The Casablanca-Washington air route is the third long-haul flight launched by RAM in […]
Morocco’s leading banking group, Attijariwafa bank, has submitted a bid to take over British Barclay’s Egypt branch, a source close to the Moroccan institution told Reuters. The transaction has been estimated at $400 million. Barclay has decided to get rid of its Egypt’s branch as part of structural adjustment policy in a move to generate […]
The regions of Casablanca-Settat and Rabat-Salé-Kénitra continue to drive the Moroccan economy making up 48.3% of Morocco’s GDP in 2014, the Higher Planning Commission (HCP) said. The region of Casablanca-Settat accounted for 32% of Morocco’s GDP followed by Rabat-Salé-Kénitra by 16.3%. Five other regions produced 40.3% of Morocco’s GDP. These regions are Tangier-Tétouan-Al Hoceima (9.4%), […]
Morocco and Portugal signed on Thursday a Memorandum of Understanding to set up a maritime hub with advanced infrastructure and services to boost the two countries competitiveness. The agreement was signed in Lisbon by Morocco’s Equipment, Transport and Logistics Minister Aziz Rabbah and Portugal’s sea Minister Ana Paula Vitorina. Following the example of the successful […]
The U.S. agribusiness group, Archer Daniels Midland Company (ADM), said that its Casablanca’s sweetener plant started operating in August with a view to boosting its footprint in the sweetener and starch market in the MENA region after expanding in Eastern Europe last year. The announcement was made by the CEO of the Chicago-based company PDG […]
The Payroll in the public sector absorbs 49% of state revenues, a percentage that shows the burden placed on the state budget because of an inefficient employment policy, says a study conducted by L’Economiste daily newspaper. The public sector’s payroll is in dire need of restructuring to mitigate its impact on the state budget after […]
Japan announced it will invest $30 billion in support of Africa’s economic growth and infrastructure over the next three years. The pledge was made by Japan’s Prime Minister Shinzo Abe at the Japan-Africa economic summit in Nairobi, as Tokyo competes for influence in the continent with the U.S., China and former European colonial powers such […]
The plummeting oil prices propelled Algeria in an economic crisis marked by a sharp decrease in exports and a deepening budget deficit threatening to halt several mega projects in the country, chief among which is Algeria’s mega mosque. In 2011, when global oil prices were at their peak, works started to build the mosque overlooking […]
US company specializing in solar power technology, Nano PV Global, will launch by the end of the year a project worth 2 billion dirhams to manufacture solar panels. The new factory will be producing photovoltaic panels and will create 660 direct jobs, Moroccan daily L’Economiste reports. The paper, quoting the regional investment promotion center, says […]
Efforts and investment policies implemented by Moroccan authorities to make the kingdom one of the first investment destination in Africa are paying off. The Paris-based consulting firm Havas Horizon has ranked, in its latest report, the North African country the third most attractive investment destination for the coming years. The report titled “Financing the African […]