Morocco Inflation Rises To 2 pct In May

Reuters
by Aziz El Yaakoubi

morocco-inflation-rate-mom

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)

Circle Oil’s Morocco Campaign Makes Gas Find

Energy Voice
Oil & Gas
by Energy Reporter

Circle oil

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…)

Libyan Unity Government Talks To Resume In Morocco

Digital Journal
by Ken Hanly

Politics

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…)

Moroccan King Lights Up Ivory Coast As Trade Pushes South

Bloomberg Business
by Olivier Monnier Caroline Alexander

King

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…)

The Economic Revival Of The Arabs Starts In A Small Moroccan Border Town

The National
Faisal Al Yafai

night work

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…)

Eco-tourism Main Objective For Morocco

eTurboNews

tourism

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…)

Moroccan Villagers Harvest Fog For Water Supply

Zee News India

Sidi Ifni: Green technology to turn fog into fresh water straight from the tap has put an end to exhausting daily treks to distant wells by village women in southwest Morocco.

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…)

Morocco And Peugeot Agree On 557 Million-Euro ($632 Million) Investment For Car Factory

US News & World Report
AP by Paul Schemm

Peugeot

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…)

Sound Oil Appoints Morocco Country Manager

Rigzone
by Rigzone Staff

Oil Morocco

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…)

Morocco: Fashion Becomes Occasion For Migrants

ANSAmed

Fashion in Morocco

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 Elected To Chair Third Committee For UN General Assembly

flags-UN

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…)

Morocco: Farm Produce Consumption Grows

ANSAmed
by Diego Minut

Daily life in Marrakech [ARCHIVE MATERIAL 20131219 ]

Daily life in Marrakech [ARCHIVE MATERIAL 20131219 ]

Moroccans prefer products with safe traceability.

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…)

Western Sahara: What’s Behind Susana Malacorra’s Visit With The Polisario

Sahara News
by Ali Haidar

Banki

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…)

EIB Supports Europac’s Largest Investment In Morocco

ENPI-INFO.eu

Europac

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 Jan-May Trade Deficit Drops By A Quarter As Oil Price Falls

Reuters

Moroccan_Dirham

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…)

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