Economy
Morocco's economy faced a challenging landscape in the second quarter of 2024, with growth slowing to 2.4%, down from 2.5% in the same period last year. This slight deceleration masks significant shifts across various sectors, painting a complex picture of the nation's economic health. Primary......
In a significant move to bolster its phosphate production capabilities, Morocco's OCP Group has partnered with global mining technology leader Weir Group PLC in a £25 million (approximately $33 million) deal. This collaboration aims to introduce cutting-edge, energy-efficient solutions to OCP's......
Spain has recently announced a tender for seismometers to study the seabed of the Strait of Gibraltar, signaling renewed interest in an ambitious project to connect Europe and Africa through an underwater tunnel. This development marks a significant step forward in a vision that has been in the works......
Casablanca is set to host a crucial gathering aimed at tackling one of the Middle East and North Africa (MENA) region's most pressing issues: youth unemployment. The MENA YES! (Youth Employment Summit), organized by Education For Employment (EFE), will bring together over 200 participants from diverse......
The Phosboucraa Foundation, established in 2014, has emerged as a significant force for sustainable socio-economic development across Morocco's southern provinces in the Western Sahara. According to its 2023 annual report, the foundation's initiatives have benefited over 200,000 individuals,......
In a significant shift within Spain's property market, Moroccan investors have emerged as key players, securing their position as the second-largest group of foreign buyers in the second quarter of 2024. This development, reported by the online platform Merca2, highlights a growing trend that has......
In a significant move that could reshape the global spreads industry, Teralys, a subsidiary of Moroccan royal holding company Al Mada, has announced its acquisition of Italian agro-industrial group Nutkao for €450 million. This strategic purchase positions Teralys as a formidable competitor to established......
In a significant move towards sustainable transportation, Morocco's Mohammed VI Polytechnic University (UM6P) has joined forces with global technology leader Capgemini to explore cutting-edge solutions for hydrogen storage in vehicles. This collaboration marks a crucial step in positioning Morocco......
Morocco's coastal tourism sector, a vital component of its blue economy, faces a stark challenge as climate change threatens to erode up to 32% of jobs by 2035, according to a recent World Bank report. The study, "Climate Change Impacts on the Blue Economy in Morocco: Prospects for Jobs in Coastal......
In a strategic move to enhance its defense capabilities and boost its industrial sector, Morocco has entered into a partnership with TATA Advanced Systems Limited (TASL), a subsidiary of India's TATA Group. The collaboration aims to domestically produce the WhAP 8×8 armored combat vehicle,......
Morocco is taking significant steps to bolster its textile industry by forging stronger partnerships with China, a global powerhouse in textile manufacturing. This strategic move comes as part of Morocco's broader efforts to attract foreign investment and position itself as a key industrial hub in......
Morocco is making waves in the global railway industry with its bold "Made in Morocco" vision, unveiled at the prestigious InnoTrans 2024 trade fair in Berlin. The Morocco TraIndustry (MTI) cluster, a collaborative initiative aimed at revitalizing the nation's railway sector, made its debut......
In a significant development, Morocco's central bank, Bank Al-Maghrib, has taken a decisive step to regulate the fees charged for electronic transactions, setting a cap at 0.65% of the transaction value. This move, announced recently, aims to foster a more inclusive and accessible financial ecosystem,......
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