Morocco Second Largest Exporter of Medicine in Africa: Report

Rabat - A new report by PharmaBoardroom revealed that Morocco’s exports of medicines have increased by 21.7% in the last three years, becoming Africa’s second largest exporter of drugs. On Tuesday, the UK-based website Pharma Boardroom which provides free pharmaceutical industry trends, news, and reports all over the globe, released a new reference entitled Morocco Pharmaceuticals Report. The report found t ...

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Moroccan Olives Banned in USA Due to Insecticides

Miami - The Moroccan olives loved by so many Americans have encountered a major problem. The US Food and Drug Administration (FDA) has detected the presence of large amounts of insecticides and has banned the export of Moroccan black and green olives into the United States. Maghreb Confidentiel reports that the olives in question are those exported by the French producer of olives “Crespo”. According to the ...

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Ikea to Open Five Stores Across Morocco

Rabat - Swedish furniture giant Ikea is expected to open up its first store in Morocco near Casablanca by the end of 2015, ahead of opening four other stores across the country in the near future. A report by Moroccan weekly magazine TelQuel said Ikea’s first store will be located in Zenata, between Casablanca and Mohammedia. It is expected to open in October 2015, as the work is almost finished. TelQuel qu ...

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Morocco to Ship in $100 Million for Africa50 Fund

Casablanca  - Morocco intends to contribute in the Africa50 fund with an amount of 100 million dollars and give it all facilities necessary to fulfill its mission, said, on Wednesday in Casablanca, economy and finance minister Mohammed Boussaid. Speaking at the constitutive general assembly of the Africa50 fund, set up initially by the African development bank (AfDB), in the presence of ministers representi ...

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Morocco’s Cinema Center Grants Nabil Ayouch MAD 3.5 Million for a New Film

Rabat - Morocco’s Cinema Center CCM has reportedly offered a fund estimated MAD 3.5 million ($150, 000) to the filmmaker Nabil Ayouch, for the production of his new movie “Matar Al Araq” (Rain of Perspiration). The funding committee at CCM has unveiled this week the list of films that will benefit this year from CCM’s film funds. In a statement, the committee said it approved the funding application made by ...

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Morocco’s MASEN Concludes Integrated Partnership on Solar Technology

Rabat - The Moroccan Agency for Solar Energy (MASEN), the Energy and Alternative Energies Commission (CEA) and the Alcen group signed, on Monday in Rabat, several parallel and complementary agreements to develop industry and R&D in the field of solar energy to boost their expertise and know-how. Initialed by chairman of MASEN's board of directors Mustapha Bakkoury, CEO of CEA Daniel Verwaerde and presid ...

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Automotive Sector to Create 90,000 Jobs in Morocco by 2020

Rabat - Morocco’s automotive industry is expected to significantly increase job opportunities in the next five years, as Morocco has become a favorite investment destination for many of the world’s leading car manufacturers. Car manufacturers in Morocco will create 90,000 new jobs by 2020, announced president of the Moroccan Association for Industry and Automotive Trade (AMICA), Hakim Abdelmoumen, during a ...

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IMF Expects Morocco’s Economy to Pick Up in 2015

Washington - Following a slowdown in 2014, Morocco's economy will pick up speed in 2015, thanks to a strong overall economic performance, the International Monetary Fund (IMF) noted. "Policy action has helped reduce fiscal and external vulnerabilities and significant progress has been achieved on reforms", the IMF pointed out in a statement issued following the second review of Morocco’s economic performanc ...

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France’s Orange Increases Stake to 49% in Moroccan Subsidiary Meditel

Rabat - The French telecom service provider Orange has increased its stake in Morocco’s telecom operator Meditel to 49 percent, after acquiring an additional 9% on Friday. A joint statement said that the Deposit and Management Fund (CDG), FinanceCom and Orange signed the final document on Friday, increasing Orange’s interest in Méditel. The increased stock in Meditel, which offers both landline and mobile s ...

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Official invites Macquarie Capital to open office in Morocco

Rabat - Equipment Minister Aziz Rabbah invited on Friday Australian banking group Macquarie Capital to open an office in Morocco. During a meeting with deputy CEO of Macquarie Capital Sylvain Delion, the minister underlined the different models of partnership for a possible investment by the group in Morocco, said the equipment ministry in a statement. Delion is on a working visit to Morocco to get informed ...

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European Commission: Fisheries Agreement, Perfectly Legal

Brussels  - The European Commission has once again underlined the legality of the EU-Morocco Fisheries Agreement and stressed that it complies with international law.  The partnership agreement between Morocco and the EU in the fisheries sector is perfectly legal and fully respects international law, European Commissioner for Environment, Maritime Affairs and Fisheries, Karmenu Vella, pointed out. The EU-Mo ...

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RAM, Africa’s Most Famous Company Amongst Journalists: Survey

Rabat - A new survey has revealed that Morocco’s Royal Air Maroc is the African company with the highest brand recognition amongst business journalists. In a press conference in Paris on Tuesday, the Middle-East and African poll from the communication agency “Public Rumor”, released its latest survey on the influence of African countries. The survey, which was conducted between May and June 2015based its ra ...

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