Search Site

Trends banner

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Moroccans protest price hikes and ‘repression’

Demonstrators take part in a march called by the Moroccan Social Front (FSM) coalition. AFP
  • People converged from across Morocco for the protest, which was also called to highlight the cases of several jailed bloggers and journalists
  • Consumer price inflation was 7.1 percent year-on-year in October, due in large part to surging food prices triggered partly by an intense drought

Protesters turned out in force to march in Morocco’s capital Rabat Sunday to denounce the “high cost of living and repression”, amid surging inflation and rising social discontent.

“The people want lower prices… The people want to eliminate despotism and corruption,” chanted the crowd, estimated by journalists to be around 3,000 people, the largest such rally in recent months.

Police put the turnout at between 1,200 and 1,500 people.

“We came to protest against a government that embodies the marriage of money and power,” said Younes Ferachine, a coordinator from the Moroccan Social Front (FSM) group of political parties and left-wing trade unions that organised the rally.

People converged from across Morocco for the protest, which was also called to highlight the cases of several jailed bloggers and journalists.

Hit by the economic impact of the Covid-19 pandemic and inflation, poverty levels are back to where they were in 2014, the government’s High Commission for Planning said in a recent report.

Consumer price inflation was 7.1 percent year-on-year in October, due in large part to surging food prices triggered partly by an intense drought that has hit farmers.

Faced with the recent protests, Prime Minister Aziz Akhannouch has lately promoted expanding medical coverage, with more than 10 million low-income Moroccans enrolling in recent weeks.