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Morocco Calls on EU to Ensure Implementation of Farm Deal, or It Will Turn to Other Partners

The Moroccan government called Monday on the European Commission and the European Council to assume their responsibility to ensure the implementation of the farm deal sealed between Rabat and Brussels within the frame of a broader strategic partnership. A press release issued by the Moroccan Ministry of agriculture and fisheries also called on the European […]

February 6th, 2017 | Posted in Finance,Headlines | Read More »

IMF Commends Morocco for ‘Sound’ Macroeconomic Reforms

The IMF Executive Board commended Moroccan authorities for conducting sound macroeconomic policies and reforms, which strengthened the national economy in the face of external vulnerabilities, and forecasts 4.4 percent growth in 2017. These reforms “have helped reduce domestic and external vulnerabilities, enhance the fiscal and financial policy frameworks, and increase economic diversification,” the IMF said […]

January 28th, 2017 | Posted in Finance,Headlines | Read More »

Morocco-KSA, Two Strategic Partners Determined to Boost Economic Ties

Even though Morocco and Saudi Arabia are bound by a strong friendship and political partnership, their economic exchanges remain weak. The two countries’ shared determination to boost trade in 2017 was the élan of the meeting of the Morocco-Saudi Arabia business council held in Casablanca Monday. The year 2017 should mark a renaissance for trade […]

January 25th, 2017 | Posted in Finance,Gulf News,Headlines | Read More »

Algeria: GDP Growth Slows Despite Energy Revenue Upsurge

Algerian government on Sunday said the country recorded slower third-quarter growth despite a significantly better performance from the energy sector. The data released by the statistics office show overall GDP growth was 3 percent in the third quarter, down from 3.5 percent in the same period of 2015. The energy sector in Algeria has expanded […]

January 23rd, 2017 | Posted in Finance,Headlines | Read More »

EBRD Invests Over € 1.3 Bln In North Africa & Jordan,

The European Bank for Reconstruction and Development (EBRD) has invested in 2016 more than €1.3 billion in 41 projects in Morocco, Tunisia, Egypt & Jordan. The investments were made in the energy and renewable energy sectors, as well as in infrastructure, agribusiness and small and medium-sized enterprises (SMEs.) Hildegard Gacek, EBRD Managing Director for the […]

January 19th, 2017 | Posted in Finance,Headlines | Read More »

Morocco Gives Green Light for five Islamic Banks

Morocco’s central bank, Bank Al Maghrib, gave its approval to five Islamic banks to start operating in Morocco and allowed three French banks to sell Islamic products. The central bank added in a statement that it has set up a central sharia committee including a body of Islamic scholars to oversee the new sector. Three […]

January 4th, 2017 | Posted in Finance,Headlines | Read More »

Qatar: IMF Encourages Reform Policies

A statement released by an International Monetary Fund (IMF) mission to Qatar has outlined that the country is “effectively adjusting to the new reality of sustained lower energy prices” by implementing “adequate” policies to ease the pressure on the fiscal and external positions although the surplus of the Gross Domestic Product fell from 12.3% in […]

January 4th, 2017 | Posted in Finance,Headlines | Read More »

Abu Dhabi Fund for Development Mulls Funding New Projects in Morocco

The Abu Dhabi Fund for Development (ADFD), a government-owned entity, said it is examining new development projects proposed by the Moroccan government. “The proposed initiatives of the Moroccan government will contribute to driving socio-economic growth across all key sectors and create new job opportunities. This latest round of talks highlights ADFD’s commitment to facilitating the […]

December 29th, 2016 | Posted in Finance,Headlines,World News | Read More »

Egypt’s Suez Canal Earnings Fall to $389.2 in November

Egypt’s Suez Canal revenues recorded $389.2 million in November dropping by 4.7 percent year on year since November 2015 when they were at $408.4 million, according to official figures published by the Suez Canal Authority. The international waterway is a major source of foreign currency for Egypt as it is the fastest shipping route between […]

December 24th, 2016 | Posted in Finance,Headlines,World News | Read More »

Egypt: World Bank Grants Egypt Another $1 Billion Loan

The World Bank has approved the second phase of its $3 billion loan to Egypt, disbursing another $1 billion part of its support to the North African country’s “ambitious program of reforms with a strong focus on job creation and boosting the competitiveness of Egyptian businesses” stated Asad Alam, World Bank country director for Egypt, […]

December 21st, 2016 | Posted in Finance,Headlines | Read More »

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