Three Global Automotive Suppliers to Create 30,000 Jobs in Morocco by 2019

Rabat- Nine agreements were signed on Wednesday in Rabat between the Ministry of Education and Vocational training and three global suppliers of automotive parts and cables for the creation of new apprenticeship training centers in Morocco. Under the signed agreements, the Ministry of Education and Vocational Training will cooperate with Delphi, Yazaki and Leoni to train thousands of school leavers in the a ...

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Irish Oil Company Says It Found Gas in Its First Well Drilled in Morocco

Rabat - Irish Oil & Gas exploration company Circle Oil has announced that gas had begun flowing at its LAM-1 well in Morocco. The Limerick-based company said it had reached a stabilized gas flow rate of 1.9 million cubic feet per day at the LAM-1 well in the Lalla Mimouna onshore permit. The secondary target flowed gas at 1.1 million cubic feet, according to a Circle Oil statement. "We are delighted tha ...

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Tunisia Terrorism Attacks Affects Moroccan Tourism Sector: Minister

Rabat- The terror attack that left 38 people dead in Sousse is considered not only a blow to Tunisia's tourism industry, but also to countries in the region with tourism-driven economies such as Morocco. Moroccan tourism, which has been struggling ever since the Charlie Hebdo and Bardo Museum attacks, is preparing itself for a new decline following Tunisia's attacks last week. Speaking at the House of Repre ...

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Fiber-Optic: Furukawa Electric to Open Production Facility in Morocco

Rabat - Japan's Furukawa Electric, the world's third largest fiber-optic manufacturer, will open a fiber-optic cable factory in Morocco. The new factory will be Furukawa Electric's first factory in Africa. The Japanese company plans to invest $8 million (MAD75 million) to set up the factory in Tangier, northern Morocco. According to the Nikkei Asian Review, Furukawa Electric seeks to satisfy the growing dem ...

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Morocco, Top Destination for Investments in the Maghreb: UN Report

Rabat- Morocco is the largest recipient of foreign direct investments (FDI) in the Maghreb region, registering a nine per cent increase, according to the United Nations. Morocco came in top in terms of foreign direct investment in the Maghreb region with total investments of USD 3.6 billion in 2014, United Nations Conference on Trade and Development (UNCTAD) said in its World Investment Report of 2015 relea ...

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Moroccan Named ‘Immigrant Entrepreneur of the Year’ in Italy

Rabat- A Moroccan immigrant has been named "immigrant entrepreneur of the year" in Italy. Abderrahim Naji from the city of Beni Mellal was named Thursday in the Italian capital "immigrant entrepreneur of the year as part of the 7th edition of MoneyGram Award. The 48-year-old Moroccan national runs a small factory which specializes in producing molded plastic products especially for the automotive industry. ...

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Moroccans’ Bank Deposits in Switzerland Exceed $1 Billion

Rabat- A recent report released by the Swiss National Bank (SNB) shows that Moroccans’ total deposits in Swiss banks reached $1.112 billion last year, the equivalent of more than ten billion Moroccan dirhams. The report shows that savings of Moroccans in Switzerland are lower than most Arab countries, except war torn countries. Morocco ranks higher than Libya at 642 million Swiss francs, Tunisia at 564 mill ...

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U.S Supreme Court legalizes same-sex marriage across the country

Rabat - Same-sex marriage is now legal across the United States after the US Supreme Court has ruled that all states must issue marriage licenses to gay couples. Five of the nine court justices determined that the right to marriage equality was protected under the equal protection clause of the 14th amendment of the US constitution. The states affected by the new ruling are Alabama, Arkansas, Georgia, Kentu ...

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Casablanca, Best Arab City for Young People Aged 15 to 29

Rabat - Casablanca is the most youthful city in the Arab World, according to a study conducted by the Canada-based independent research firm Youthful Cities. The Moroccan city is the best place for young people aged between 15 and 29 in the Arab region, Youthful Cities said in its 2015 Youthful Cities Index. Casablanca was ranked 44th in the global index, which measured the attractiveness of 55 cities aroun ...

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Morocco, Regional Hub for Car Industry: Efe

Madrid - Morocco has become a regional hub for the car industry with the setting up of a new PSA Peugeot-Citroen plant in the Kingdom, said on Tuesday Spanish news agency "Efe". This project, which mirrors French enterprises' trust in Morocco, reinforces the Kingdom's industrial fabric and will increase the exports of the car industry, which has become, over the past three years, one of the country's main e ...

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Morocco to Become an Investment, Trade Bridge Linking Africa and Europe: Bloomberg

Washington - Morocco is set to position itself as an investment and trade bridge linking Africa and Europe, wrote on Monday media company "Bloomberg" on its website. "The monarch’s business pitch is part of his nation’s efforts to deepen trade with West Africa," said the U.S. website. This African strategy offers the kingdom, "which has so far avoided the turmoil that’s engulfed parts of the region, the opp ...

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PSA Peugeot Citroen’s Moroccan Factory to Produce 200,000 Cars a Year

Rabat - The new factory of the French leading carmaker PSA Peugeot Citroen will produce 200,000 cars and 200,000 motorbikes a year, Minister of Industry, Commerce, Investment and the Digital Economy Moulay Hafid Elalamy said. The new plant, to be completed by 2019, will generate 4.500 direct jobs and 20,000 indirect, said the Minister in an address before King Mohammed VI, who chaired on Friday the signing ...

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