After Renault and Ford, Peugeot to Open Production Facility in Morocco

Rabat - French car manufacturer PSA Peugeot Citroen is planning to build a production facility in Morocco as part of an effort to increase its sales in Africa, following in the footsteps of French rival Renault SA, a source close to the company told Bloomberg news agency. "The plant would initially have a capacity of fewer than 100,000 vehicles a year, and Peugeot may announce the project publicly as early ...

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American Students to Attend Business Seminar in Casablanca

Rabat - Casablanca continues to attract more and more executives and entrepreneurs from developed countries who wish to experience the potential of the growing African market. ESCA Ecole de Management, a professional management school in Casablanca, will be hosting two groups of American business students from 16 May to 22 May to present “Doing Business in North Africa,” a series of exclusive seminars which ...

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Market Prices Will Be Controlled During Ramadan

Fez - Mohamed El Ouafa, the Minister Delegate in charge of public affairs and good governance, said that the government will control prices in markets during the month of Ramadan, despite speculation for doing so. In a recent press conference, the minster revealed that due to the good results of the past agricultural season, the government will not resort to importing products from abroad to cover internal ...

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The UK Willing to Boost Economic Ties with Morocco

Rabat - The United Kigdom is willing to further boost economic ties with Morocco through more investments, British Minister for the Middle East and North Africa Tobias Ellwood said on Wednesday in Rabat. Morocco offers "massive investment" opportunities said Ellwood at a press briefing following talks with Minister Delegate to the Foreign Minister, Mbarka Boaida. Ellwood said that he will be leading a busin ...

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Only 5.8% of Moroccans Are Able to Save Money: HCP

Rabat - According to recent research, it is almost impossible for Moroccans to save any money.  A study on household confidence conducted by the Moroccan Planning Authority (HCP) has shown that only 5.8 per cent of Moroccan households can save part of their income. The study has found that Moroccan households remain pessimistic about their ability to save money in the coming months. In the first three month ...

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Moroccan Banks Reap Benefits of Investments in Africa: Jeune Afrique Magazine

Rabat-  Leading Moroccan banks started to reap the benefits of the investments they launched a decade ago in Sub-Sahran Africa, writes the French speaking daily magazine specialising in African issues, Jeune Afrique, in its latest issue. In an article on the performance of the three biggest Moroccan banks with substantial branches in Africa, namely AttijariWafa Bank, BMCE Bank and the Banque Centrale Popula ...

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Morocco’s Cereal Harvest Reaches Record 11 Million Tons

Rabat- Morocco's cereal harvest reached a record 11 million tons in the current crop year, up 63% compared to last year, Agriculture and Fisheries minister Aziz Akhannouch announced Tuesday. The agricultural output registered a significant improvement, averaging 2.4 t/ha for soft wheat and more than 4.2 t/ha in irrigated farms, the minister said at the House of Representatives' question time, noting that pr ...

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Discovery of Natural Gas in Morocco, Production to Begin in June

Rabat - Morocco's Office of Hydrocarbons and Mining (ONHYM) announced Monday positive test results for the SAH-W1 well in the western-central area of the Sebou Permit, onshore Morocco. Well flows were 140,000 cubic meters per day, and production will start at the end of June this year, the Rabat-based ONYM said in a statement. The well is located within the western-central area of the Sebou Permit, about 3. ...

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Circle Oil ‘Delighted’ With Preliminary Gas Results in Morocco

Rabat - Exploration company Circle Oil said they are 'delighted' with preliminary results of testing of the well SAH-W1 in the onshore Sebou permit. The Limerick-based company, which operates in North Africa and the Middle East, said the well was drilled to a total depth of 1,263 meters in June 2014, with gas shows encountered at different levels within the target "Guebbas sands". The well is located within ...

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Casablanca 4th City for Opportunities in Africa: Report

Rabat - Casablanca has ranked the fourth city for opportunities in Africa in a study released last March by American consulting confirm PricewaterhouseCoopers, LLC (PwC). The study based its assessment of the potential of African cities for investors on five factors: current infrastructure or future potential, the location, the nature of the opportunity, the unique “must-have” or “knock out” factors, and th ...

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Morocco’s Needs of Natural Gas to Reach 5 Billion Cubic Meters by 2025

Rabat - Morocco's needs of natural gas are estimated at about 5 billion cubic meters by 2025, said Abdelkader Amara, Minister of Energy, Mines, Water and Environment.  According to Communication Minister and Government Spokesperson Mustapha El Khalfi, Amara presented to the government council on Thursday a presentation on the kingdom's liquefied natural gas plan (LNG). Amara said that by expanding the use o ...

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Morocco’s Mobile Operator INWI Loses 594,000 Customers in 2015

Rabat - INWI's total subscriber base declined by 0.5 million to 11.6 million in the first quarter of 2015, according to Telecommunications Regulatory National Agency (ANRT). Morocco's third leading telecommunications operator saw a shock fall of 594,000 in its mobile telephony subscriber base during the first three months of 2015. ANRT attributed this decline to the decision to ban anonymous SIM cards. The ...

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