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London stock exchange and Morocco’s Maroclear sign cooperation agreement

London - London stock exchange group (LSEG) and Maroclear, Morocco's central securities depositary, signed, on Wednesday in London, a cooperation agreement to expand LSEG services to the Moroccan stock market's affiliated members. The agreement was inked by LSEG Chief Executive Xavier Rolet and CEO of Maroclear Fethia Bennis, in the presence of minister delegate to the minister of industry, trade, investmen ...

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Morocco’s head of CGEM joins US Initiative for Global Development

New York - President of employers' association (CGEM) Miriem Bensalah-Chaqroun was appointed, Tuesday in New York, as a member of the board of directors of U.S. NGO "Initiative for Global Development" (IGD). Bensalah-Chaqroun is the first Arab-African woman to sit, along with 4 other new members, in the board which brings together 10 CEOs of leading African and American groups. The announcement was made by ...

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Morocco, ‘important, very reliable’ partner for Germany: German official

Rabat - Morocco is an "important and very reliable" partner for Germany, said Tuesday in Rabat, Thomas Silberhorn, Parliamentary State Secretary to the Federal minister for Economic Cooperation and Development. "Morocco is an important and reliable partner for Germany. ( ... ) Recently, we successfully wrapped up our intergovernmental negotiations," Silberhorn told journalists following a meeting with the m ...

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Enterprise Development, Improvement of Business Climate Are Key Priorities: Head of Govt.

Casablanca - Morocco’s head of government Abdelilah Benkirane said Monday in Casablanca that enterprise development of and improvement of business climate are among top priorities for his cabinet. Benkirane, who was speaking during a meeting under the theme "Enterprise at the Heart of the Government's Strategy", said "in order to meet those priorities Morocco needs to engage major reforms in the fields of j ...

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Economy minister presents broad lines of 2015 appropriation draft bill to Parliament

Rabat - Morocco's Minister of Economy Mohammed Boussaid presented, on Monday before the two houses of parliament, the broad lines of the 2015 appropriation draft bill. The draft bill forecast for achieving in 2015 a GDP growth rate of 4.4% on the basis of a 4.3% budget deficit of GDP and a 9% rise of investment expenses to reach 54 billion dirhams. The draft bill, elaborated pursuant to Royal Instructions a ...

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Genel, partners make oil discovery off Morocco

LONDON (Reuters) - Genel Energy and two partner firms said on Monday they had discovered oil off Morocco, giving a boost to the region whose oil and gas drilling results have so far been mixed. Genel's minority partners in the Sidi Moussa-1 well, Serica Energy and San Leon, announced they had drilled nearly 3,000 metres below the sea and encountered oil. "We are at a very early stage and the presence of hyd ...

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Morocco’s growth to reach 4.4 % in 2015: Minister

Rabat - Morocco's economy growth rate is expected to reach 4.4 % in 2015, the minister delegate for the Budget Idriss Azami Al Idrissi said Sunday. Al Idrissi, who was speaking at meeting on "Issues and Challenges of the National Economy", said that the targeted rate is based on an average oil price of $ 103/barrel and a 4.3 % budget deficit. In 2015, the government will focus on boosting growth and support ...

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Moroccan Citrus to Gain Entry into Russian Market

By Lahcen El Youssfi Meknes - The export season of Moroccan citrus fruit to the Russia Federation begins in the coming days, and professionals are preparing to avoid difficulties experienced during the last campaign. New mechanisms of quality control are being implemented to assure suitable conditions for exportation. During the last campaign, citrus exports started too early, resulting in a disaster . In f ...

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Morocco, USA Promote Aviation Industry Cooperation

Dallas (Texas) - Morocco's Airport Authority ONDA and Dallas-Fort Worth Airport signed, here Thursday, a Memorandum of Understanding to promote technical cooperation between the US airport and Moroccan airports. The agreement, signed within the framework of the US-Morocco Trade and Investment Forum, provides notably for the exchange of information in statistics and financial data and the regular sharing of ...

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Increase of Bread Prices: Morocco Government Says It Won’t Bow to Pressure

Taroudant, Morocco - Following the recent decision of the National Federation of owners of bakeries to rasie the cost of a loaf of bread throughout Morocco, Mohamed El Ouafa, the Minister Delegate to the Head of Government in charge of Public Affairs and Governance, said that the government will not allow the price increase to take place.  At a press conference held on Wednesday, October 15, in the Ministry ...

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Morocco, AfDB sign €100 Million Loan Agreement to Support Financial Sector

Rabat  -  Morocco and the African Development Bank (AfDB) signed, on Wednesday in Rabat, a loan agreement worth 100 million euros to finance the Financial Sector Development Support Program - phase III (PADESFI-III) of Morocco. Inked by Economy minister Mohamed Boussaid and AfDB vice president Aly Abous-Sabbaa, the agreement comes under the PADESFI which focuses on creating requisite conditions for inclusiv ...

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Morocco’s growth to near 2.8 % in 2014 fourth quarter: HCP

Rabat  - Morocco's growth rate is expected to average 2.8 % in the fourth quarter of 2014, compared to 2.6 % in third quarter, according to the High Commission for Planning (HCP). With a 2.4 % decline of agricultural value added and a 2.6 % increase of non-agricultural activities, national economic growth is expected to slightly accelerate to reach 2.8 % in the fourth quarter of 2014, according to new figur ...

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