The Moroccan dirham experienced a minor depreciation of 0.2% against both the Euro and US dollar during the period of January 30 to February 5, according to Bank Al-Maghrib (BAM). This modest decline follows a period of exchange rate stability in the previous week. The central bank's weekly bulletin......
Morocco's ambitious railway infrastructure development has taken a significant step forward as French construction company Colas secures three major contracts worth €430 million to expand the country's high-speed rail network between Kenitra and Marrakech. The project, aimed at enhancing......
Despite active exploration efforts and international investment, Morocco's quest to develop substantial natural gas resources continues to yield modest results in the face of rising domestic energy consumption. Sound Energy CEO Graham Lyon highlighted the challenges and opportunities in the country's......
Stellantis's manufacturing facility in Kenitra, Morocco, has launched production of Automated Guided Vehicles (AGVs), marking a significant advancement in the region's automotive manufacturing capabilities. The plant aims to produce 1,000 AGVs annually, according to Faro de Vigo. The AGV workshop......
Morocco's traditional handicraft industry has emerged as a significant economic powerhouse, generating annual revenues of MAD 140 billion ($14 billion) and contributing 7% to the national Gross Domestic Product. Secretary of State for Handicrafts Lahcen Saadi presented detailed data during a meeting......
Spain's industrial production saw a modest rise of 0.7% in 2024, marking a recovery from the 1.6% decline in 2023, according to the National Institute of Statistics (INE). Although the growth represents an improvement, it remains lower than previous years, including a 2.3% increase in 2022 and a......
Amazon's stock took a significant hit as concerns over its cloud computing division and a weaker-than-expected sales forecast led to a sharp decline in investor confidence. Following the release of its fourth-quarter earnings report, Amazon's shares dropped by up to 5% in after-hours trading,......
The signing of this agreement highlights the commitment of Morocco and Libya, under the enlightened leadership of His Majesty King Mohammed VI and the President of the Libyan Presidential Council, Mr. Mohamed Al-Menfi, to enhance their sectoral cooperation. Their aim is to create mutually beneficial......
Shein, the online fast-fashion retailer, is preparing to lower its valuation to around $50 billion for a potential London IPO, sources familiar with the matter have revealed. This marks a nearly 25% decrease from the company's 2023 fundraising value as it faces increasing challenges in the market. The......
In a tense session at the French National Assembly, Renault CEO Luca de Meo defended his 5.5 million euro compensation package while addressing concerns about the future of the company's former subsidiary, Fonderie de Bretagne. The hearing highlighted the stark contrast between executive pay and......
A significant cross-border investment has emerged in North Africa's startup ecosystem as Egyptian-based Beltone Venture Capital invests in Moroccan eyewear company LNKO. The investment, while undisclosed, will fuel LNKO's expansion across Africa. LNKO, established in 2020 by Maha Bennani, has......
In Southampton, England, Deb Taylor, a 63-year-old cleaner, left a discount fashion store empty-handed, lamenting that even low-cost items are no longer affordable. Antonia Alden, a stay-at-home mother, also expressed frustration during a rare shopping trip, revealing that she no longer visits stores......
Swedish retailer H&M is strengthening its manufacturing presence in Morocco as part of a strategic response to potential US trade restrictions, according to the company's finance chief. This move represents a significant shift toward regional supply chains, with Morocco positioned as a key production......
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