Follow on Twitter
Subscribe by RSS
Marrakech the Ocher City of light will finally have a Grand Museum of Islamic Art worthy of the name Founded in 1062 by Youssef Ibn Tachfin, first ruler of the Almoravid dynasty, Marrakech is at once imperial city, city of light, ocher city, town red or pearl of the south, the […]
As centuries ago as now, we find many policy makers, politicians and political analysts who still consider the abstract idea of double standard is a shrewd political craft. They simply justify and identify this double play as a mean to attain goals of interest. Apart from the far-flung stigmatization […]
Hicham Lahlou already stands among the world’s elite designers. This young French-Moroccan designer – a voluble, dynamic, ever smiling, generous and optimistic personality – is not only very talented but he is also very funny. So much so that he could be a one-man show artist in another life! He […]
Today’s top business and economy news from the Middle East and North Africa: Dubai’s bullish economic growth bears new risks: Citigroup report Citigroup’s chief economist for the Middle East said in a study published on Wednesday Dubai’s exposure to world economy bears downwards risks despite outperforming Abu Dhabi and other major […]
The German, French, Italian, Spanish and Moroccan governments are pushing forward their green solar energy “Desertec” project, exclusive information obtained by a German newspaper revealed on Thursday. According to Süddeutsche Zeitung, the biggest selling national newspaper in Germany, electricity produced by a solar thermal plant in Morocco, which would cost €600 million to build, […]
Today’s top business and economy news from the Middle East and North Africa: UAE records $9.9bn fiscal surplus in 2011 The United Arab Emirates’ finance ministry said on Monday the state recorded a budget surplus of AED36.2 billion ($9.9 billion) in 2011, as it released the data to public for […]
Today’s top business and economy news from the Middle East and North Africa: Dubai Limitless agrees restructuring of $1.2 bln loan Limitless, the indebted property arm of Dubai World, has reached an agreement with creditors to restructure a $1.2 billion Islamic loan, the company said on Thursday. Limitless will also shortly commence a […]
Today’s top business and economy news from the Middle East and North Africa: UAE bank giants lead China expansion march Two of the UAE’s largest banks are leading an expansion drive into China as trade between the two countries continues its rapid growth. The National Bank of Abu Dhabi (NBAD) and […]
France’s Vivendi SA is selling its stakes in Maroc Telecom as part of the debt reduction plan by the Paris-based telecoms giant, reports suggested on Wednesday. According to the North Africa Post, the sale is estimated to generate more than $5billion. Vivendi has contacted two potential investment banks but fears […]
Who has not dreamed of owning his own music radio station, to pass his favourite music, the tunes of his childhood when all other public radios only broadcast programmes according to a very institutional grid? Younes Boumehdi has had this dream come true after 13 years of waiting, to get […]
Today’s top business news from the Middle East and North Africa: Oman announces desalination plants worth $400m An Omani government official announced on Thursday there are plans in place to build three desalination plants at a cost of about $400 million to meet the soaring demand for water. An official […]
Spanish Prime Minister Mariano Rajoy led a top level delegation to Morocco to hold talks with Moroccan officials on economic ties in Rabat on Wednesday. The two Mediterranean neighbours harbour deep differences over several political and historical issues despite a friendship treaty signed two decades ago. However, Rabat and Madrid are enjoying […]
Today’s top business news from the Middle East and North Africa: Dubai state firm to take over troubled Zabeel – report A report published by Reuters said on Thursday state-owned property firm Dubai Real Estate Corp (DREC) has taken over management of troubled Zabeel Investments, which is owned by the […]
World Bank extended a $300 million loan to Morroco to help it tackle youth unemployment and boost gender equality in a series of assistance programmes aimed at lessening the fallout from the euro zone crisis. The finance ministry in Rabat said on Wednesday the funds would feed into a social development […]
Today’s top business news from the Middle East and North Africa: Saudi king orders work on grand Medina mosque project Saudi state news agency reported on Tuesday King Abdullah has ordered the launch of a huge expansion project for the Prophet Muhammad’s mosque in the holy city of Medina. The […]
A Saudi-led consortium won a $1 billion contract to build a 160 megawatt solar power plant in Morocco, the first in a series of vast solar energy projects planned in the North African kingdom. A consortium made up of Saudi developer ACWA Power International (95%) and the Spanish firms ARIES […]
Today’s top business news from the Middle East and North Africa: Economy to grow faster than IMF forecast: UAE Central Bank The Central Bank of the United Arab Emirates said the federation’s economy has shown “sustained resilience” and is likely to grow faster than the International Monetary Fund forecast for […]
Morocco on Tuesday expressed its confidence of becoming a world-class solar energy producer by finding the investment needed to build vast solar power plants in its southern desert regions. “Our target is that in 2020, 42% of our power supply will come from renewable energy, including 14% from solar,” Deputy Energy […]
The African Development Bank has approved $800 million in loans to Morocco to support renewable energy programs, the bank said on its website on Thursday. The loans will help Morocco develop a concentrated solar power (CSP) plant at the town of Ouarzazate, the Tunis-based bank said. The project would be […]
British oil firm Cairn Energy said on Tuesday it has bought a further position to hunt for oil and gas off the coast of Morocco in a $60 million deal that would also grant a 50% stake in a licence shared with smaller explorers like San Leon Energy (SLEN.L), Serica Energy (SQZ.L) […]
Morocco is emerging as a beacon in the Arab world in terms of countering extremist ideology and promoting “tolerance, respect and dialogue among religious groups”, a newly published report said on Tuesday. The US Department of State study on religious freedoms around the world noted that Moroccan law guarantees freedom of religion […]
Morocco’s economy suffered a loss of around $90 billion due to drought and downfall in consumption growth, official data suggested on Wednesday. The North African nation’s economic growth also slowed down to 2.6% in the second quarter of this year from 2.8% the previous quarter, the report added. GDP growth in […]
The European Commission announced on Monday it has approved a 2012 action plan for Morocco worth €112 million that will support the management and safeguard of forests and reform the country’s financial management and public administration sectors. The Commissioner for European Neighbourhood Policy said the new funds are a perfect […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa Qantas seeking Emirates ‘lifeline’ – report Australian flag carrier Qantas said on Thursday it is holding talks with carriers including Emirates to give a shot in the […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Gulf, Levant and North Africa regions of the Middle East: Dubai posts 6.6% foreign trade growth rate in Q1 2012 Dubai posted a 6.6% growth during the first quarter of 2012 in […]
Morocco’s minister of Mines, Energy, Water and Environment, Fouad Douri, announced the government has set the target of seeking 25% of the country’s energy needs from renewable resources like wind and sun by 2020, Brazil-Arab News Agency reported. The North African nation updated its ambitious target from 15% which was set […]
State-owned oil explorer and power supplier Abu Dhabi National Energy Co (TAQA) announced on Thursday it is signing a $1.4 billion financing arrangement for the expansion of its power plant in Morocco. TAQA’s Jorf Lasfar coal-fired power plant is a 16-year multi-currency project financing to increase production capacity by 700 megawatts. It is […]
Middle East Business News Review – A look at today’s important financial news and business updates from the Middle East and North Africa region: Oman Air posts record 28% revenue rise in 2012 Oman Air announced on Monday its passenger revenue increased 28% during the first five months of the […]
Bombardier Aerospace confirmed on Monday it has signed an agreement with Midparc Investment S.A., a Moroccan property holding and management company, to purchase from them the land required for its new plant in the Midparc Casablanca Free Zone, in Nouaceur, Morocco. “The selection of Nouaceur as the site for our […]
A look at today’s important financial news and business updates from the Middle East region: ILO warns of worsening Arab youth unemployment ‘crisis’ More than a quarter of young people in the Middle East and North Africa region are unemployed, according to a new report published by the International Labour […]
Morocco telecoms regulator announced on Monday the launching of a tender to sell at least one 4G licence in the fourth quarter as part of its aim to reach the 10-year goal of providing access to broadband services across the country. Telecommunications Regulatory National Agency (ANRT) said in an emailed […]
A look at today’s important financial news and business updates from the Middle East region: Sanctions on Iran having moderate impact on Dubai economy – official A top Dubai official has said the emirate’s economy has felt only a modest impact on trade from international sanctions against Iran so far. […]
According to a World Bank report, almost 30% of Moroccans between 15 and 29 years of age are unemployed. The study also noted that those most likely to suffer unemployment are uneducated city dwellers. Based on innovative research that focuses directly on the personal views and experiences of young people, the research titled […]
A look at today’s important financial news and business updates from the Middle East region: UAE federal bankruptcy law to be ready by year end The UAE Justice Minister Hadef bin Juan al-Dhaheri announced on Monday the government is close to finalise an updated federal bankruptcy law and a draft […]
London-based Al Hayat newspaper reported that Morocco witnessed a sluggish economic growth rate of just 2.2% during the first quarter of this year compared to final quarter of last year which was around 4.7%. The report blamed shortfall in rain, continued eurozone crisis, and a decline in tourist figures and […]
A look at today’s important financial news and business updates from the Middle East region: Etihad Rail delegation returns from Europe after reviewing security standards A delegation of Etihad Rail, the developer and operator of the UAE’s railway network, has returned from Europe after reviewing the best rail security practices […]
Moroccan parliament approved the budget for current fiscal year in which it aimed to reduce budget deficit to below five per cent of GDP, and raise taxes on companies and alcohol products. The Moroccan News Agency said Prime Minister Abdelilah Benkirane’s government intends to narrow the gap between rich and […]
Press Release Results of Booz & Company’s regional survey expose trends and feelings about key lifestyle factors Dubai, UAE, April 15, 2012: In developing countries worldwide, the middle class is often the catalyst for positive change, yet, in the Middle East, this substantial segment of the population is not enjoying […]
COKE, PEPSI GIVEN 30 DAYS TO REMOVE UNLAWFUL CANS Officials of the Consumer Protection Department of the Ministry of Economy have issued a month long ultimatum to remove all 300ml cans from hotels, restaurants, stores, and other places or face severe fines. “We met with the companies who agreed to […]
