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Economy


Gaza's Economic Crisis Deepens: UN Report Reveals Alarming Job Losses and Shrinking GDP

In a stark revelation, a recent United Nations report has highlighted the dire state of Gaza's economy, indicating that it has contracted to a mere one-sixth of its previous size. This alarming decline has resulted in the loss of approximately 306,000 jobs in the West Bank, underscoring the profound......

Moroccan Government Greenlights Expansion of Tangier Automotive City, Paving the Way for Economic Growth

In a significant move aimed at bolstering its automotive sector, the Moroccan government has officially approved the expansion of the Tangier Automotive City, a key player in the nation’s free zone. This decision is poised to enhance the region's industrial capabilities and attract further......

Concerns Emerge in Devon Over UK-Morocco Power Project's Impact on Local Tourism and Economy

Residents of Devon, UK, are expressing growing apprehension regarding the implications of a proposed power project in Morocco, which is set to establish a significant energy link between the two nations. This initiative, aimed at bolstering renewable energy resources, has sparked debates about its potential......

Morocco Advocates for Collaborative Strategies to Enhance African Diaspora Remittances

In a significant move to bolster economic ties and financial flows within the continent, Morocco has called for a multilateral approach aimed at increasing remittances from the African diaspora. This initiative underscores the vital role that remittances play in the economic stability and development......

Onda Appoints New Directors to Propel Modernization of Major Moroccan Airports

In a strategic move aimed at enhancing the operational efficiency and modernization of Morocco's aviation sector, the National Office of Airports (ONDA) has announced the appointment of new directors for several key airports across the country. This initiative underscores the government's commitment......

Morocco Engages with BRICS Nations at Economic Forum in Xiamen

The city of Xiamen, China, recently hosted the 2024 BRICS Forum focused on partnerships for a new industrial era on September 10 and 11. Morocco was represented by Ryad Mezzour, the Minister of Industry and Commerce, who emphasized the significance of the event for showcasing Morocco's industrial......

Over 431,000 Widows in Morocco Receive Direct Social Support Amid Economic Challenges

In a significant move to bolster social welfare, Morocco has extended direct financial assistance to over 431,000 widows across both urban and rural areas. This initiative, part of the government's broader strategy to enhance social protection, aims to alleviate the economic burdens faced by this......

Morocco and Egypt Dominate U.S. Thermal Coal Exports to Africa

In a notable development within the global energy market, Morocco and Egypt have emerged as the leading recipients of American thermal coal exports to Africa, collectively accounting for an impressive 98% of the total shipments to the continent.  Recent data from the U.S. Energy Information Administration,......

Credit du Maroc Reaffirms Commitment to Anti-Corruption Standards with System Certification Renewal

In a significant move underscoring its dedication to ethical business practices, Credit du Maroc has successfully renewed the certification of its anti-corruption management system. This renewal, which aligns with the international standard ISO 37001, reflects the bank's ongoing commitment to combating......

Taounate Launches Morocco's Inaugural Legal Cannabis Factory, Paving the Way for Industry Transformation

In a significant development for Morocco's burgeoning cannabis sector, the city of Taounate has inaugurated the nation’s first legal cannabis production facility. This landmark event marks a pivotal shift in the country’s approach to cannabis cultivation and commercialization, reflecting......

Chariot Limited Validates Significant Gas Discoveries in Morocco's Offshore Anchois Project

In a notable development for the energy sector, Chariot Limited has confirmed substantial gas discoveries at its offshore Anchois project in Morocco. This announcement marks a pivotal moment for the company and the region, as it underscores the potential of Morocco's natural gas reserves. The exploration......

Moroccan Ports Experience Surge in Passenger Traffic During Marhaba 2024

In a remarkable display of logistical prowess, Moroccan ports welcomed over 2.8 million passengers during the Marhaba 2024 operation, a seasonal initiative designed to facilitate the return of Moroccans living abroad. This year’s figures reflect a significant increase compared to previous years,......

Falcon Energy Materials and Hensen Forge Partnership to Establish Anode Production Facility in Morocco

In a significant development for the energy sector, Falcon Energy Materials has announced a strategic collaboration with Hensen to construct a state-of-the-art anode manufacturing plant in Morocco. This partnership aims to bolster the production of essential materials for the burgeoning electric vehicle......