by Aziz El Yaakoubi
Morocco’s consumer price inflation rose to an annual 2 percent in May from 1.7 percent in April, the High Planning Authority said on Monday.
Food inflation was 3 percent, up from 2.5 percent. The non-food price index rose to 1.3 percent from 1 pct.
Month-on-month, inflation was unchanged at 0.2 pct.
(Reporting By Aziz El Yaakoubi; editing by John Stonestreet)
Oil & Gas
by Energy Reporter
Circle Oil confirmed its Moroccan exploration campaign has made a credible gas find.
The first well drilled on the Lalla Mimouna permit, targeted the Miocene gas-bearing sands.
The primary target was perforated at 1,261-1,272 metres and flowed gas at a stabilised rate of 1.9 MMscf/d on a 16/64″ choke and the secondary target was perforated at 1,181-1,183 metres MD and flowed at a stabilised rate of 1.1 MMscf/d on a 16/64″ choke. (more…)
by Ken Hanly
Earlier this month, members of the internationally-recognized House of Representatives(HoR) government based in Tobruk eastern Libya were split on whether they would even continue to participate in the peace talks.
Tripoli – No doubt there was a great deal of pressure by many western countries urging them to continue to take part in the talks for a unity government. The talks were designed to find a political solution to overcome the division into two separate governments — the Tobruk internationally- (more…)
by Olivier Monnier Caroline Alexander
Since the end of May, Abidjan has had a special guest: King Mohammed VI of Morocco.
Though he spent just a week in Ivory Coast’s commercial capital as part of an African investment tour, his portrait still towers over its lagoon, facing the business district’s skyline and illuminated by two spotlights at night. Moroccan flags lined main boulevards and posters sponsored by local units of two of Morocco’s biggest banks welcomed him. (more…)
Faisal Al Yafai
Night work at the world’s oldest leather tannery in Fez, Morocco. The Arab world must return to the principles that first made it rich, writes Faisal Al Yafai (Nicole Hill / The National).
Barely a few hundred metres separate the beach in the Algerian town of Marsa Ben Mhidi from the corniche in the next door Moroccan town of Saida. But that distance is a chasm, for the border has been closed for 21 years. (more…)
Focus on eco-tourism is the main objective for Morocco outlined in the Vision 2020 strategic document.
Morocco is part of the “Thousand Gardens of Africa,” a project launched by Slow Food to create a totally ecological and eco-sustainable agricultural model through a direct involvement of local communities. (more…)
Zee News India
Families in five highland Berber communities have begun to benefit from “fog harvesting”, a technique devised in Chile two decades ago and since taken up in countries from Peru to Namibia and South Africa. (more…)
US News & World Report
AP by Paul Schemm
Morocco and French automaker PSA Peugeot Citroen on Friday signed an accord to build a new factory aimed at producing up to 200,000 cars annually for the African and Middle East market.
The factory involves an investment of 557 million euros ($632 million) and is the second major agreement between Morocco and a French automaker, following Renault’s 2013 building a factory in Tangiers. (more…)
by Rigzone Staff
Southern Europe and Mediterranean-focused junior energy company Sound Oil announced Friday that, following its recent entry into Morocco, is has appointed Luca Madeddu as the firm’s managing director for the country.
Madeddu, previously employed by Sound as Managing Director Italy, will relocate to Rabat and head a small, specialist team in preparation for Sound’s operatorship and development of the Tendrara license. Leonardo Spicci, currently Deputy Managing Director Italy, will assume the role of Managing Director Italy. (more…)
The name chosen, ‘Migrants du monde’, is unmistakable as is its main end – giving a new occasion through fashion to those who leave their country for choice or need. In just a few years, this has become a phenomenon not just of fashion but also for its way to freshen up the relationship between those abandoning their land and those who, Gospel or Koran in hand, open their arms to their coming in peace and respect those hosting them. (more…)
Morocco, in the person of the kingdom’s ambassador to the UN Omar Hilale, was unanimously elected, on Monday, June 15 , 2015 as chair of the Third Committee of the UN General Assembly for its upcoming 70th session.
Morocco’s election, on behalf of Africa, as chair of the main body of the UN General Assembly is an international recognition of the bold reforms undertaken by HM King Mohammed VI in human rights and His personal commitment to African causes, according to observers at the United Nations. (more…)
by Diego Minut
Eating good and healthy food is not only a western mantra, as shown by the booming consumption of farm produce in Morocco. Indeed consumption of products rigorously made in Morocco has now reached 90%. Such a phenomenon would appear inevitable in a country where agriculture covers about 20% of GDP.
However, such a trend is due to the fact that consumers are increasingly looking for quality and think it is ensured by local production. (more…)
by Ali Haidar
UN Secretary General Ban Ki-Moon is putting pressure on the Polisario again, the objective being to force the Algeria-backed Sahrawi movement to soften its position in a bid to resume negotiations with Morocco over the Western Sahara issue.
But this time, Ban Ki-Moon has preferred to leave his Personal Envoy for Western Sahara, Christopher Ross, out of the undertaking. Instead, he dispatched his chief of staff, Susana Malacorra to the Tindouf camps that she visited over the weekend. (more…)
As part of its policy of supporting the private sector, the European Investment Bank (EIB) is lending €10 million to MED Packaging in Morocco, a subsidiary of Papeles y Cartones de Europa S.A. (Europac). The finance contract was signed last week in Rabat
This is the Europac Group’s largest investment outside the EU. Specifically, it will serve to install an integrated packaging production unit in Tanger Automotive City, resulting in the creation of 120 direct jobs locally. (more…)
Morocco’s trade deficit fell 25.3 percent to 63.12 billion dirhams in the five months to the end of May compared with a year earlier, thanks to lower energy import prices as oil prices fell, the foreign exchange regulator said on Monday.
The trade gap was down from 84.54 billion dirhams at the end of May 2014, as energy imports fell by a third from a year earlier to 27.89 billion dirhams. Wheat import prices fell 31.1 percent as the local harvest hit a record high this year. (more…)