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Economy


Comprehensive Analysis of the Maroc-Portugal-Spain Triangulation

The relationship between Morocco, Portugal, and Spain is a complex tapestry of history, politics, economics, and culture that has evolved over centuries. These three countries, united by their geographical proximity in the Maghreb region and the Iberian Peninsula, have forged a partnership that demonstrates......

Samsung Workers Escalate Labor Tensions with Indefinite Strike Call

In a move that could potentially disrupt the operations of one of the world's largest technology conglomerates, a union representing workers at South Korean tech giant Samsung Electronics has called on its roughly 30,000 members to embark on an indefinite strike. This escalation comes as part of......

Moroccan Oil Refinery Saga: Kingdom Refutes Billion-Dollar Claim in International Arbitration

In a significant development in the ongoing saga of Morocco's sole oil refinery, the North African kingdom has decisively rejected a substantial $2.7 billion compensation claim brought forth by Saudi entrepreneur Mohammed Al Amoudi. This rejection comes on the heels of a concluded arbitration procedure......

Morocco Unveils Stringent Measures to Curb State Vehicle Misuse

In a bold move to enhance fiscal responsibility and public accountability, the Moroccan government is poised to implement sweeping reforms in the management of state-owned vehicles. This initiative, spearheaded by a forthcoming Prime Ministerial decree, aims to address longstanding concerns over the......

Morocco's Economy Gains Momentum: Forecasts Point to 3.2% Growth in Q3 2024

In a testament to its economic resilience, Morocco is poised to witness a notable uptick in growth, with forecasts indicating a 3.2% expansion in the third quarter of 2024. This projection, an increase from the 2.9% growth recorded in the preceding quarter, underscores the nation's ongoing economic......

Morocco's Economic Landscape Shifts as Inflation Halves in Q2 2024

In a significant economic development, Morocco witnessed a dramatic reduction in inflation during the second quarter of 2024, with rates plummeting to 0.7% from 1.2% in the preceding quarter. This remarkable shift, as reported by the High Planning Commission (HCP), paints a nuanced picture of the North......

EdfaPay Ventures into Moroccan Market, Expanding Global Footprint

EdfaPay, a prominent fintech firm based in Saudi Arabia, has announced the expansion of its operations into Morocco. This move comes after the company successfully secured the necessary regulatory approvals, marking another significant step in its global growth strategy. Founded in 2021, EdfaPay has......

Morocco's Saharan Endeavors: Transforming the Desert into an Economic Powerhouse

In a comprehensive report, the Spanish news agency EFE has shed light on Morocco's ambitious efforts to transform the Sahara region into a formidable industrial hub through the implementation of large-scale projects. Among the most prominent initiatives are the Atlantic Port of Dakhla and the Tzenguiz-Dakhla......

Unveiling the Seamy Side of Fashion: Milan Investigation Exposes Labor Woes in Luxury Goods Production

In a shocking revelation that threatens to tarnish the glittering reputation of Milan's fashion industry, Italian authorities have uncovered widespread exploitation of workers in the production of high-end handbags and leather goods. The investigation, spearheaded by Milan prosecutors, has laid bare......

Morocco's Gaseous Ascent: Fueling Investments in Tendrara and Larache

Morocco's burgeoning gas sector is gaining remarkable momentum, fueled by dynamic investments in the regions of Tendrara and Larache. Leila Benali, the Minister of Energy Transition and Sustainable Development, has highlighted these significant strides, underscoring the government's unwavering......

Economic Growth Moderates in First Quarter of 2024, but Remains Resilient

In its comprehensive assessment of the nation's economic performance during the first quarter of 2024, the High Commission for Planning (HCP) revealed a moderation in the growth rate of the national economy, which stood at 2.5% compared to 3.9% during the same period the previous year. Despite this......

Hassan Laaziri Elected President of the Moroccan Association of Capital Investors

In a significant development for the Moroccan investment landscape, the Moroccan Association of Capital Investors (AMIC) has appointed a new Board of Directors (CA) that unanimously elected Hassan Laaziri as its president, succeeding Hatim Ben Ahmed. This appointment marks a pivotal moment for the organization......

Attijariwafa Bank and AfCFTA Forge Strategic Alliance to Bolster African Trade

In a significant move to enhance trade and investment across Africa, the Attijariwafa Bank Group and the African Continental Free Trade Area (AfCFTA) Secretariat have signed a memorandum of understanding (MoU). This agreement, inked during the 2024 Africa Development International Forum, promises to......