Finance & Economy

Taqa Morocco’s financial indicators declined in the 1st quarter. Taqa Morocco’s Net Income Group Share (NIGS) stood at MAD 152 million compared to MAD 265 million in the same period last year, a drop of 42.8%. The NIGS reached 152 million in Q1-2020 against 265  million dirhams at the end …

The effects of the health crisis are sparing no airline. After RAM which loses MAD 50 million per day, it is around Air Arabia in Morocco to announce to its personnel deductions from wages. The company has just informed the pilots, the captains and the co-pilots that their incomes will …

Within Royal Air Maroc (RAM), hit hard by the closure of Morocco’s borders as part of the health emergency, the time has come for dialogue to allow the national airline to see the end of the tunnel. Thus, a meeting was held Friday between the top management of the RAM …

The Real Estate Asset Price Index fell 1.4% year-on-year in the first quarter of 2020 and transactions fell 29.5%, say Bank Al-Maghrib (BAM) and National Agency for Land Conservation of Cadastre and Mapping (ANCFCC). This decline comes from the decline of 1.5% for residential assets, 1.2% for land and 2% …

The coronavirus pandemic has raised questions about whether China can maintain its leadership status at the heart of global manufacturing and supply chains. According to the Oxford Business Group (OBG), the fact that the virus originated in China, the world’s main manufacturing hub, has in fact caused disruptions in global …

Spanish startup Mr Jeff has announced its entry into the Moroccan market, offering a lucrative franchise model in the area of ​​laundry and dry cleaning for local entrepreneurs. After launching the successful concept in 40 countries, Morocco is now one of the most important regional startup markets with the opening …

Royal Air Maroc loses MAD 50 million per day. These are the daily losses of the national company in terms of turnover. “We are going through the worst crisis in our history,” said CEO Abdelhamid Addou in a letter dated May 12 and addressed to all employees. Another announcement from …

The financial rating agency has just lowered the OCP rating from BBB-/stable outlook to BB+/negative outlook. This change of opinion reflects the deterioration of Morocco’s prospects from stable to negative under the effect of the crisis caused by the Covid-19 pandemic. In addition, the rating agency justifies the downgrade by …

The Moroccan economy should contract by 2% in 2020 under the effect of the pandemic of the new coronavirus (covid-19), but know a recovery of 4% in 2021, predicts a report of the European Bank for Reconstruction and Development (EBRD). This slowdown would be due to a sharp decrease in …

Bank Al-Maghrib (BAM) has called on credit institutions to suspend all dividend distributions for the 2019 fiscal year until further notice, BAM said in a statement. In the context of the pandemic Covid-19 crisis, credit institutions are called upon to strengthen their role in financing the economy, notes the press …