Moroccan Dirham Weakens Against Euro and Dollar, Central Bank Reports
11 October 2020
The dirham has depreciated by 0.53% against the euro and 0.10% against the dollar, according to Bank Al-Maghrib (BAM) in its bulletin on weekly indicators.
Economy
Morocco Seeks IMF Flexible Credit Line to Boost International Market Position
10 October 2020
A few days before the expiration of its Precautionary and Liquidity Line (PLL), Morocco wants to further negotiate the obtaining of a Flexible Credit Line from the (…)
Moroccan Asset Manager Sues Financial Regulator for Alleged Abuse of Power
10 October 2020
Following a sanction imposed on it by the Moroccan Capital Market Authority, a Moroccan management company has just filed a complaint with the administrative court. It is thus (…)
Essaouira Pivots to Luxury and Rural Tourism Amid Global Travel Slump
10 October 2020
Essaouira wants to cushion the shock caused by the drop in international tourism. It is making the choice of tactical and strategic withdrawal with miracle solutions such as (…)
Moroccan Hotels Face Mass Layoffs as Tourism Crisis Deepens
10 October 2020
After more than 7 months of inactivity, and with prospects still not looking good, many Moroccan hotel establishments are preparing to part with all or part of their staff. The (…)
Adevinta Sells Moroccan Classifieds Giant Avito in $35 Million Deal
10 October 2020
An agreement has been negotiated between Adevinta, Avito’s parent company, and the Malaysian Frontier digital ventures (FDV). The transaction involves the sale of online (…)
Morocco’s Hotel Industry in Crisis: COVID-19 Cancellations Prompt Urgent Call for Government Aid
10 October 2020
With the many cancellations of accommodation, catering, and events, the Moroccan hotel sector is one of the most impacted by the health crisis. Its players are calling on the (…)
Royal Air Maroc Extends Special Flights, Delays Regular Service Resumption
10 October 2020
Pending the resumption of its regular flights after the reopening of borders, Royal Air Maroc maintains its special flights until November 10th.
Luxembourg Opens Trade Office in Casablanca to Boost Morocco Economic Ties
10 October 2020
To strengthen the economic and trade relations between Morocco and Luxembourg, the opening of a representative office called the Luxembourg Trade and Investment Office (LTIO) (…)
Morocco’s Merzouga Desert Shifts Focus to Domestic Tourism Amid Pandemic
9 October 2020
Domestic tourism is the chance for a tourism revival in Merzouga, one of the best tourist destinations in the Draa-Tafilalet region, severely affected by the health crisis due (…)