INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Morocco truckers observe strike to protest soaring fuel price

Inflation, spurred by rising global commodities prices, topped three percent year-on-year in January, prior to Russia's invasion of Ukraine.
  • Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers' union
  • The government of Prime Minister Aziz Akhannouch has for weeks been facing growing unrest over mounting living costs

Moroccan truck drivers are observing a three-day strike in protest at spiraling fuel costs, a union said Tuesday, as oil prices spike over Russia’s war in Ukraine.

Around three quarters of drivers are observing the strike, said Mounir Benazouz of the SNPTR truckers’ union.

Four other unions have also joined the action which ends Wednesday.

“We are calling on the government to put a ceiling on fuel prices and the profit margins of distributors, because the situation is becoming more and more critical,” Benazouz said.

He added that the strike could be extended unless the government responds.

The transport ministry did not immediately reply to AFP’s request for comment.

The government of Prime Minister Aziz Akhannouch has for weeks been facing growing unrest over mounting living costs, with price hikes on fuel and other essential goods sparking demonstrations across the North African kingdom.

Inflation, spurred by rising global commodities prices, topped three percent year-on-year in January, prior to Russia’s invasion of Ukraine.

Moroccan farmers are also suffering the effects of a long drought which has battered a sector that contributes about 14 percent of gross domestic product.