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Chinese Group Shandong Shangang to Invest in Tangier

Tinjedad, Morocco- Morocco and China signed Tuesday in Rabat a memorandum of understanding on the establishment of a unit of the Chinese group Shandong Shangang, a leader in the manufacture of steel products, in the free zone of Tangier Automotive City (TAC) located in the north of Morocco. According to the African agency Agence Ecofin, the Chinese Shandong Shangang group, a world leader in the manufacture ...

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Morocco’s Grain Output Falls to 68 Million Quintals in 2014

Rabat - The grain output fell to 68 million quintals in 2014 compared to 97 million quintals in 2013 (an exceptional crop year), Agriculture and Fisheries minister, Aziz Akhannouch, said here Tuesday. During this crop year, farmers harvested 37 million quintals of wheat, 17 million quintals of barley and 14 million quintals of durum wheat, the minister pointed out in a meeting. "The good distribution of rai ...

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Net income of Maroc Telecom down 12.7 % late June 2014: CEO

Rabat - The net income of telecommunications operator "Maroc Telecom" reached 3.073 billion dirhams during the first half of 2014, a decrease of 12.7 % year-on-year, announced, on Monday evening in Rabat, Chairman and Chief Executive Officer of Maroc Telecom, Abdeslam Ahizoune. Ahizoune, who was presenting at a press conference the group's net profit for the first half of 2014, noted that the company achiev ...

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Morocco: Four Regions Contribute to Half GDP Growth

Casablanca - The High Commission for Planning (HCP) has recently published its 2012 regional accounts report, which clearly shows large inequalities and gaps between the regions' participation in maintaing Morocco’s wealth. According to the report, only four regions (Casablanca, Rabat-Salé-Zemmour-Zaer, Haouz -Marrakech –Tensift and Chaouia-Ouardigha) contribute to more than half of the national wealth.Mehd ...

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Morocco’s Economy to Grow 3.5 pc in 2014

Rabat- Morocco' economy will grow by 3.5 percent this year, Economy and Finance minister, Mohamed Boussaid, announced Thursday in Rabat. Despite a decline in agricultural value-added, all activity sectors excluding agriculture increased in the first half of 2014, notably the automotive industry, aviation, textile and electronics, Boussaid said before the cabinet meeting. In the tourism sector, tourist arriv ...

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Morocco, most attractive north African destination for aircraft manufacturers, Aerolia Group CEO

London - Morocco is the most attractive destination in North Africa for aircraft manufacturers across the world, said, on Wednesday in Farnborough (35 km south of London), CEO of Aerolia Cédric Gautier. Aerolia chose to gain a foothold in Morocco due to simplified procedures for investors, support services, modern infrastructure and facilities, and the robust industrial supply chain available in Morocco, Ga ...

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Morocco’s RAM Named Best Regional Airline in Africa

Fez - Royal Air de Maroc (RAM) was awarded Africa’s best regional airline for 2014 by Skytrax at the World Air Line Awards in Farnborough on Tuesday. Royal Airlines Morocco landed in sixth place for the quality of the services provided by its staff. It also ranked 7th best airlines in Africa after South Africa Airways, Air Mauritius, Air Seychelles, Ethiopian Airlines, Kenya Airways and TAAG Angola Airlines ...

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EasyJet to Launch Glasgow-Marrakech Route in October

Marrakech- The low-cost airline EasyJet will launch in October a new route connecting Glasgow (Scotland) to Marrakech-Menara Airport. The new route, to be inaugurated on October 29, will be flying three times a week, airport sources said. This is the first route between Marrakech and a Scottish city, and the 14th route operated by EasyJet departing and arriving to Marrakech-Menara International Airport. Eas ...

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Morocco’s Phosphate Exports Down 12.1 pc in 2014 1st Half

Rabat- Morocco earned 17.55 billion dirhams from phosphate export in the first half of this year, according to the Foreign Exchange Office (FEO). This is a decrease of 12.1 percent over the 19.98 billion dirhams earned during the same period in 2013, the FEO said in a report on the foreign trade for the month of June 2014. Morocco, the world's largest producer of phosphates, has three-quarters of the world' ...

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Spanish exports to Morocco up 3.9% late May 2014: Ministry

Madrid - Spanish exports to Morocco posted a rise of 3.9% over the five first months of 2014, compared to the same period a year ago, totaling 2.393 billion euros, according to figures released on Wednesday by the Spanish Economy and Competitiveness Ministry. Morocco maintains its position as top African and Arab destination for Spanish exports, said the ministry in a statement on the Jan.-May trade results ...

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Morocco: Promising Estimates of 190 Million Barrels in Tarfaya

Marrakech - The Australian Oil exploration company Tangiers Petroleum Limited announced Monday in a brief statement on its website that its exploration well TAO-1 off the Atlantic coast of Morocco is on track. The Oil and Gas Explorer  holds a 25% interest in the Tarfaya block offshore Morocco, which is operated by Galp Energia with a 50%. The well began to be drilled on June 26 and is the best resource pot ...

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National economy to grow 2.6 % in 3rd quarter of 2014: HCP

Rabat - The growth rate of the Moroccan economy is expected to reach about 2.6 % in the 3rd quarter of 2014 year-on-year, against 2.3 % during the second quarter, said the High Commission for Planning (HCP) on Monday. The national economy should grow to reach about 2.6 % in the 3rd quarter of 2014 due to a probable 2.7 % decrease of the agricultural value added and a 3.4 % increase of non-agricultural activ ...

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