First Independent Mena Newspaper
A consortium led by UK’s Global Ports Holding, the world’s largest independent cruise port operator, has been awarded by Moroccan authorities “preferred bidder status” to operate the Casablanca new cruise terminal. Besides GPH, which owns 51% of the consortium, the selected group includes local shareholder, Steya (40%) and Spanish Ocean Infrastructures Management (9%). After becoming […]
Only days after the announced $35 billion deal with the UAE for the development of Ras al-Hekma on its Mediterranean coast, Egypt is reportedly also targeting investors from Qatar and Saudi Arabia offering them prime Red Sea coastal land in Ras al-Ghamila in South Sinai for sale as part of Cairo’s attempt to inject cash […]
Egypt and the United Arab Emirates (UAE) have signed a landmark $35 billion investment deal to develop Ras al-Hekma peninsula on the Mediterranean coast that, economists say, will inject $35 billion of foreign direct investment into the struggling Egyptian economy, helping it to bolster economic growth and address a hard currency crisis. The deal is […]
Libya has begun the deportation of 600 undocumented Egyptians who sneaked illegally into the oil-rich African country used as a launch-pad for crossing the Mediterranean for Europe. Mohamad Bardaa, deputy for security affairs at the Directorate of Combating Illegal Migration answering to the Tripoli-based government, told AFP that deportees had entered Libya illegally, Ahram Online […]
British Petroleum (BP), an oil and gas global giant, announced Monday August 28 plans to inject $3.5 billion in Egypt for the next three years. BP’s chief executive Bernard Looney made the announcement after meeting with President Abdelfattah al-Sisi. The investments will go towards research, exploration and development, the office of the Egyptian leader announced. […]
Burkina Faso, Mali and Guinea dealt a blow to the Economic Community of West African States (ECOWAS) after they threw their support behind the junta in power in Niger despite the regional community’s threat for military intervention if deposed leader Mohamed Bazoum is not restored. A group of soldiers seized power in Niger Wednesday July […]
Egypt has decided to grant foreign yacht tourists three-month visas, as opposed to the previous one-month allowance, in a move to boost the sector. The Ministry of Transport indicated in a statement issued Tuesday July 25 that the move is meant to remove all obstacles facing foreign yacht tourists along the Egyptian coasts and to […]
Morocco’s foreign minister highlighted at an international conference in Rome the King’s vision in favor of a solidarity-approach towards migration that breaks away with the all-security treatment of the issue. Speaking at the International Conference on Development and Migration, chaired by the Italian Prime Minister, Giorgia Meloni, foreign minister Nasser Bourita recalled Morocco’s role under […]
The European Union pledges to support Morocco’s efforts to fight the smuggling of migrants and human trafficking in its action plan unveiled Tuesday in Brussels by EU Home Affairs Commissioner Ylva Johansson. The action plan will be submitted to the upcoming EU Justice & Home Affairs Council (June 8-9) and the European Council (June 29-30). […]
Economic growth in Morocco is expected to pick up to 3.1 per cent in 2023, announced on Tuesday by the European Bank for Reconstruction and Development (EBRD). In its latest Regional Economic Prospects (REP) report, the Bank’s analysts explained the projected Moroccan economic growth by the anticipated agricultural recovery, moderate inflation and the country’s removal […]