Mohamed Sajid Elected New Leader of Morocco’s Constitutional Union Party

Casablanca- Mohamed Sajid was elected Saturday by an overwhelming majority as the new Secretary General of the Constitutional Union Party. During the 5th National Congress of the party, held in Casablanca, Sajid captured 825 votes, far ahead of Anwar Zyne (25 votes), Bouchra Barijal (13 votes) and Mohamed Bensaidi (11 votes). The National Congress also elected Chaoui Belaassal as President of the National C ...

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Saudi’s ACWA to Launch Wind Power Projects in Morocco

Rabat- Saudi energy giant ACWA Power is planning to launch wind power projects in Morocco and other countries, news website Hespress reported. Paddy Padmanathan, President and CEO of ACWA Power, said the company will invest $12 billion in current and new renewable energy projects in these countries. He added that the Saudi Group is competing for three wind power tenders totaling 850 MW in Morocco's wind pow ...

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WB Supports Morocco to Increase Access to Healthcare, Boost Green Energy

Washington - The World Bank Board of Executive Directors on Friday approved two projects totaling US$248.95 million to support Morocco’s national health strategy and to promote clean energy and energy efficiency. In the health sector, the investment will finance increased access to and improved quality of public services for the benefit of poor and rural populations in disadvantaged regions, the Washington- ...

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Mauritania Expels Algerian Diplomats Over article Against Morocco

Rabat - Mauritania has reportedly expelled an Algerian diplomat for attempting to trouble the relations between Rabat and Nouakchott. On Wednesday evening, the First Counselor at the Algerian Embassy in Nouakchott, Belkacem Cherouati, was expelled from Mauritanian. Mauritanian government accused him of being behind the publication of  an article on a local news website, which "undermines the external relati ...

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Chariot Oil & Gas Seeks Partner for Its Rabat Drilling Project

Rabat - Chariot Oil & Gas has announced on Tuesday the refusal of its existing partner Woodside to fund the drilling of the Rabat Deep Project. The oil and gas exploration company said it is seeking a new drilling partner for the Rabat Deep permit after Australian company Woodside has decided not to exercise its option to take operatorship and fund well costs for a further 25% equity stake in the permit ...

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Overall Sales of Real Estate in Morocco Increases: Oxford Business Group

Rabat - Oxford Business Group (OBG), a global publishing, research and consultancy firm, said that a slowdown in property prices last year in Morocco had little impact on transaction volumes, with the overall number of sales across the country increasing. OGB cited data from Bank Al Maghrib, Morocco's central bank, indicating that overall real estate index fell by 0.8 per cent in 2014, compared with 1.3 per ...

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Morocco’s Inflation Rate Rises to 1.3% in February: HCP

Rabat - The Moroccan High Planning Authority (HCP) said on Wednesday that Morocco's consumer price inflation has increased from 1.3 per cent in February to 1.6 per cent in March. HCP figures show a 2.1 per cent increase in food inflation from 1.8 per cent. The non-food price index rose 1.2 per cent from the previous month, Reuters reported. On a month-on-month basis, the consumer price index was steady in M ...

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Minister Calls on Russian Businessmen to Invest in Morocco

Moscow- Minister Delegate for Foreign Trade Mohamed Abbou called on Russian businessmen to invest in Morocco and take advantage of the many facilities offered by the government in this field. Morocco has made great strides in terms of infrastructure and has become a model in Africa thanks to the Royal guidelines for South-South cooperation, Abbou told Sputnik agency following his visit to Russia on April 13 ...

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Morocco, First Arab, African Exporter of Agricultural Products to Russia

Rabat - Zahra Maafiri, Director-General of Maroc Export (Moroccan Centre for Export Promotion) said Morocco is the first Arab and African exporter of agricultural products and textiles to the Russian market. On the occasion of a visit of a Moroccan business delegation to Russia from April 13 to 18, Maafiri said that Morocco has to maintain its leadership and diversify its exports to the Russian market. The ...

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Morocco Second for Economic Growth in MENA in 2015: IMF

Taroudante- The International Monetary Fund (IMF) published a global economic outlook study for 2015, ranking Morocco second after Qatar in terms of economic growth. In its paper entitled "Uneven Growth Short- and Long-Term Factors," published in April, the IMF said that in the year 2015, Morocco’s economy would record one of the best growth rates in the Arab world. The IMF highlighted the “commendable prog ...

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Morocco’s Omnidor to Invest MAD 3 Billion in Five Years

Rabat - Omnidior has unveiled its strategy for 2020. The real estate subsidiary of Omnipar plans 3 billion Dirhams of investments in five years to build 8,000 residential units (60 per cent average housing, 27 per cent economic housing and 15 per cent high standard housing). The group has projects in the city of Beni Mellal and Fez. "Our goal is to ensure the quality of our units, and of course prices will ...

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Adjustment of Dirham Conducive to Morocco’s Foreign Trade Development: Minister

Rabat- The revision of the dirhams basket weighting is a "necessary adjustment" in tandem with the development of Morocco’s foreign trade, Economy and Finance Minister Mohammed Boussaid said. This adjustment was taken to add more flexibility to the exchange regime, Boussaid told MAP after the Central bank doubled the U.S. dollar weighting to 40% while it cut by a quarter the weighting of the euro to 60%. In ...

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