First Independent Mena Newspaper
Creditors of Morocco’s sole refinery, Samir, are putting on the table the alternative of converting the massive 43-billion-dirham debt ($4.55 billion) into shares, a move that entails giving creditors a say in the board of trustees, Moroccan media reported on July 11. After an appeals court in Casablanca upheld a ruling placing the refinery into […]
Africa’s longest cable stayed bridge was opened to traffic in Morocco following an inauguration ceremony chaired by King Mohammed VI. The Chinese-bridge is part of a 45 highway bypass that was completed for a total cost of 3.2 billion dirhams ($0.32 billion) thus bringing Morocco’s highways up to 1630km. Named after King Mohammed VI, the […]
Morocco’s central bank will start very soon granting permits to Islamic banks due to start operations in the North African Kingdom in 2017. So far several applications have been submitted to the Moroccan financial authorities for approval to open local branches. Among the applicants, two are from the Gulf region bidding to set up their […]
A new Moroccan ferry company has been set up to enhance the North African country’s maritime connectivity with neighboring European countries. This initiative has been highly commended by tourism professionals and businessmen. Dubbed “Africa Morocco Link,” the company was established by BMCE Bank of Africa, a leading Moroccan and African banking group and Greek Attica, […]
Portuguese president Marcelo Rebelo de Sousa starts this Monday a visit to Morocco at the invitation of King Mohammed VI to give a new momentum to the thriving cooperation between the two countries. During this visit, first of its kind to an Arab country, the Portuguese Head of State will meet the Moroccan Sovereign who […]
The United Nations-sponsored Libyan Government of National Accord (GNA) held Wednesday its first official cabinet meeting since it arrived in capital Tripoli late March. Prime Minister-designate Faiez Serraj chaired the meeting in his provisional offices located in a naval base. The meeting was attended by Serraj’s two deputies, Ahmed Maetig and Fathi Majbri, and 16 […]
King Mohammed VI of Morocco hosts this week President of Rwanda Paul Kagame who arrived Monday in the North African country on a two-day official visit to foster cooperation ties. The Moroccan Sovereign will hold talks with his African guest and will host an official iftar in his honor and his accompanying delegation at the […]
The White House has confirmed that First Lady Michelle Obama will visit Morocco on June 28 and 29. The visit, which is part of the Let Girls Learn initiative, will take place after a visit to Liberia. She will highlight during her trip in these two African countries the US Government’s work to help adolescent […]
Chariot Oil & Gas Limited has been awarded by Moroccan authorities a 75 pc interest and operatorship of the Mohammedia Offshore Exploration Permits I – III, which span over 4,600 square kilometers. The company says the area contains a number of proven and potential play systems. “Chariot is pleased to be able to convert the […]
Morocco and Portugal are studying the possibility of an undersea power connection, which would be the second Europe-Africa link. The two countries have signed in this regard a feasibility study, which will cost $455 million. At present, Portugal exports its excess energy to its neighbor Spain, which then feeds into the European system via France. […]