First Independent Mena Newspaper
The Moroccan parliament officially passed a law that changed the name of the Moroccan Agency for Solar Energy (MASEN) into the Moroccan Agency for Sustainable Energy and tasked it with the development of solar, wind and hydraulic energies along with any other source of renewable energies. The law is in line with Morocco’s commitment to […]
Danish manufacturer, Vestas, has confirmed an order to supply turbines to the 120MW khalladi wind farm in northern Morocco. The Danish wind energy giant announced that it had signed a firm and unconditional order with ACWA Power for 40 of its V90-3.0 MW wind turbines. The contract comprises the supply of the turbines and a […]
“Strengthening the competitiveness of Morocco’s economic fabric hinges on breaking away with the French model that is detrimental to economic development,” said trade and industry minister Moulay Hafid El Alamy who was speaking at a conference in his capacity as a businessman. The French mode has failed. It hinders entrepreneurship and favors employment by the […]
Japanese giant Asahi Glass Co. (AGC) has reached an agreement with Induver Holding to set up a joint venture in Morocco specialized in car glass manufacturing. The joint venture is expected to start production in 2019. It will produce laminated glass and tempered glass. It is AGC Group’s first operation in North Africa. The Japanese […]
An Italian judge ordered Italian oil major Eni, oil services group Saipem and former Eni CEO Paolo Scaroni to stand trial in a long-running case of alleged bribery in Algeria “In relation to court proceeding for the alleged bribery case relating to Saipem’s activities in Algeria, Eni acknowledges that the new GUP (judge for the […]
Indonesian daily, The Jakarta Post, wrote on Sunday about the promising prospects for the development of economic ties between Indonesia and Morocco, which the paper described as a “regional power in North Africa.” Morocco is a “promising market as well as a gateway to both African and European countries for Indonesian products and investment, as […]
Morocco will send its engineers to be trained in Brazil in a bid to boost its attractiveness to foreign investments by strengthening its skilled workforce. An agreement was signed in this regards between Mohammed VI International Academy for Civil Aviation and Brazil’s aerospace conglomerate Embraer. Under the agreement, Morocco will send aeronautical engineers to gain […]
Morocco’s Attijariwafa Bank was Wednesday named best Moroccan bank by Euromoney for Excellence 2016 awards organised by leading Euromoney Institutional Investor based in London. Awards for Excellence are the most prestigious awards in global banking, which recognizes 20 global leading banks in various categories including world’s best bank, world’s best bank for financing, and world’s […]
An International Monetary Fund delegation is expected in Cairo this weekend to discuss a multibillion-dollar support program for cash-strapped North African country. The Egyptian economy has been hit badly by terror attacks and political unrests. The country has been suffering from severe foreign currency shortage since the beginning of the year. This was mainly because […]
The Executive Board of the International Monetary Fund (IMF) approved on July 22 a two-year arrangement for Morocco under the Precautionary and Liquidity Line (PLL) for 3.47 billion dollars. The new PLL arrangement will provide Morocco with useful insurance against external shocks as the authorities pursue their reform agenda aimed at further strengthening the economy’s […]