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Morocco’s Economy to Grow Below 2% in 2016: Economy Minister

Rabat  – Morocco's economy is expected to grow below 2 percent in 2016, crippled by the agricultural value added, Economy and Finance Minister, Mohamed Boussaid, said Monday. "On the basis of cereal production forecast of 33.5 million quintals, agricultural value added will decline by 7.3 percent compared to 2015, which will impact growth rate," Boussaid pointed out at a press conference of an international ...

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Qatar Proposes International Conference to Help Revive Tunisian Economy

By Kainoelani Lee  Rabat – Qatar proposed the organization of an international conference to help revive Tunisia’s depilated economy, which has since been affected by the 2011 revolution, according to the North Africa Post. Emir Tamim Ben Hamad Al Thani made the proposal on Wednesday, while visiting and discussing with the Tunisian president, Caid Essebsi. President Eseebsi welcome the proposal and thanked ...

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Dubai among Most Affordable Global Cities for Accommodating Employees

By Azam Mahmood Butt Dubai - If you were thinking that Dubai was a tourist haven where wealthy businessmen go merely to savour some sweet luxuries not found elsewhere, let me correct you a bit here. All those high net worth individuals aren’t just travelling to the Middle Eastern emirate just to have a holiday. Dubai’s strategic trading location, its duty free ports, high-end infrastructure, tax-free enviro ...

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Morocco: Foreign Direct Investments Decline by 27.7 percent as of April 2016

Rabat - Foreign direct investments (FDI) in Morocco as of April 2016 declined 27.7 percent compared to April 2015, according to figures from the Foreign Exchange Office. In April, the kingdom received MAD 9.35 billion in investments, but this year, the number fell to MAD 6.77 billion, statistics from the first four months of the year show. . The office attributed the decline to a 9.6 decrease in revenues, w ...

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Morocco’s Banque Populaire to Invest MAD 1.2 Billion to Manufacture Electric Buses

Rabat - A Moroccan bank has signed a partnership with a Chinese bank to manufacture electric buses. The relationship between Morocco and China seems to be in its heyday. After the strategic partnership and the many economic and cultural agreements signed by King Mohamed VI and the Chinese president Xi Jinping, Morocco's Banque Populaire Popular Bank recently signed an important partnership with the Chinese ...

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Algeria Signs $206 Million Contracts With American Oil Companies

Rabat - Sonatrach, Algeria’s government-owned oil company, granted contracts worth $206 million to a series of American companies for “cementing and pumping services,”and oil drilling, according to a reports by Reuters on, which cited a document from the state-owned Algerian company, Sonatrach. Schlumberger obtained a $75 million contract, while Weatherford received $11 million in new business. Baker Hughes ...

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Poultry Prices to Decrease during Ramadan in Morocco: Official

Taroudante - Shawqi Jirari, Director of the Semi-Commercial Federation of the Poultry Sector, said that the prices of poultry in Morocco are likely to go down during the holy Month of Ramadan. Poultry prices have slightly declined in recent weeks in Morocco, after a spike in prices in the previous month, reaching MAD 25 per kilogram. According to Jirari, the price of chicken fell from MAD 22, at the end of ...

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Morocco’s BMCE Bank Signs $1 Billion Development Fund With China

Rabat - BMCE Bank of Africa signed two memoranda of understanding with the China Africa Development Fund (CADF) in Beijing. The agreements represent the strengthening economic and financial relations between the two countries, as King Mohammed VI wrapped up his visit to China this week. The first agreement by Othman Benjelloun, Chairman of BMCE Bank of Africa, signed focuses on supporting African developmen ...

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Morocco, Exportable Model of Renewable Energy: WB Official

Rabat - Morocco is an exportable model for African countries in terms of developing renewable energy, said WB Country Director for the Maghreb Marie Françoise Marie-Nelly. In an interview published in the latest issue of the weekly "Financial News", Marie-Nelly stressed that Morocco is eager to share its experience with willing countries. She added that the country has set up the MASEN agency with the goal ...

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Morocco Second Most Attractive Investments Destination in Africa

Rabat - Morocco is the second most attractive economy for investments destined for the African continent, according to the latest Africa Attractiveness Index released by global advisory firm EY. EY ranks South Africa as the most attractive investment destination in Africa in its Africa Attractiveness Index. Morocco, Egypt, Kenya and Mauritius are ranked second, third, fourth and fifth respectively. The audi ...

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Turkish Investors Interested in Investing in the Sahara

Rabat - The Sahara has started to gain direct support from Morocco’s allies in form of economic investments in the region. While the Court of the European Union annulled the EU agriculture agreement with Morocco on the grounds that it should not apply to the so-called Western Sahara, Saudi Arabia and Turkey are exploring the potentials southern Morocco provides for their direct investments. After only two m ...

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King Mohammed VI Chairs in Beijing Signing of 15 Partnership Agreements

Beijing - King Mohammed VI chaired, on Thursday in Beijing, the signing ceremony of several public/private partnership agreements, as part of the strategic partnership between the Kingdom of Morocco and the People's Republic of China. The first agreement is a memorandum of understanding (MoU) to set up an industrial and residential park in Morocco between the Kingdom of Morocco and Chinese group HAITE. The ...

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