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Economy


Trump Softens Stance on Tariffs amid Market Volatility

U.S. President Donald Trump has announced that his upcoming reciprocal tariffs will be lower than those imposed by other countries, aiming to ease concerns in global markets. Speaking at the White House, Trump emphasized that his trade measures, set for announcement on Wednesday, will be “kinder”......

South Korea, China, and Japan strengthen regional trade cooperation amid U.S. tariffs

South Korea, China, and Japan held their first economic dialogue in five years on Sunday, aiming to boost regional trade amid the looming threat of U.S. President Donald Trump's tariffs. During the meeting, the three nations' trade ministers agreed to collaborate closely on high-level discussions......

Improving customer service in Moroccan banking: BAM and GPBM join forces

Bank Al-Maghrib (BAM), Morocco’s central bank, has initiated a collaboration with the Moroccan Professional Group of Banks (GPBM) aimed at enhancing customer satisfaction within the banking sector. This decision stems from a noticeable increase in complaints regarding service quality at bank branches......

Alstom to deliver 18 high-speed trains to Morocco for enhanced connectivity

French company Alstom has announced its commitment to provide Morocco with approximately 18 high-speed trains of the "Avelia Horizon" model, as part of the kingdom's railway network expansion. In a statement released recently, Alstom, a global leader in sustainable smart transport, confirmed......

Investigation into alleged embezzlement of 13 billion dirhams in red meat subsidies

The National Judicial Police Brigade (BNPJ) has launched an investigation into suspicions of embezzlement involving public subsidies allocated to livestock importers. Despite the allocation of 13 billion dirhams intended to stabilize red meat prices, costs have continued to rise, raising concerns about......

ONHYM announces over 1 billion dirhams investment in exploration

The National Office of Hydrocarbons and Mines (ONHYM) has committed an investment of 1.019 billion dirhams (MMDH) in 2024 for the drilling of four exploration wells, comprising three onshore and one offshore. This year also marks a heightened focus on strategic and critical minerals, which are vital......

Canada Ends Era of Close Ties With the US Amid Auto Tariffs

Canadian Prime Minister Mark Carney declared the end of the historically close economic, security, and military relationship between Canada and the United States following the announcement of new auto tariffs by President Donald Trump. Trump’s decision to impose a 25% tariff on vehicle imports......

Positive growth in Morocco's extractive sector driven by phosphate production

In 2024, Morocco's extractive sector experienced a notable boost, thanks to the phosphate industry. The sector finished the year with a 21% growth in its production index, reversing the previous year’s decline of 5.3%, according to the Directorate of Studies and Financial Forecasts (DEPF),......

Morocco successfully issues €2 billion bond in international markets

Morocco has successfully executed an international bond issuance totaling €2 billion, marking its first such move since 2020. Sources close to the Ministry of Finance indicate that officials were still on site as initial details of the operation began to surface. To lead this issuance, Morocco......

British Steel Faces Furnace Closures Amid Tariff Impact

British Steel, a key player in the UK’s steel industry, recently confirmed that it would close its blast furnaces and steelmaking operations due to ongoing market challenges, tariffs, and rising environmental costs associated with high-carbon steel production. In an official statement, the company......

Morocco's economic growth forecast: 3.6% in 2025

Morocco's economy is set to grow by 3.6% in 2025, an increase from 3.2% in 2024, according to the World Bank's latest economic report titled "Prioritizing reforms to boost the business environment." This optimistic projection comes despite the adverse impact of droughts on agricultural......

Azimut enters Morocco’s financial sector with strategic investments

Italian asset management firm Azimut Holding has made a significant move into the Moroccan market by acquiring minority stakes in two subsidiaries of Red Med Capital, a prominent independent investment bank in Morocco. This strategic investment marks Azimut's inaugural foray into the Moroccan financial......

Morocco secures €2 billion in euro bonds for World Cup 2030 preparations

Morocco has successfully raised €2 billion ($2.2 billion) in euro-denominated bonds, marking its first eurobond sale in five years. This significant financial move attracted bids totaling over €6.75 billion, surpassing initial expectations by €500 million. The funds will primarily support......