Search Site

Trends banner

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Morocco says to boost military ties with Israel

Moroccan Justice Minister Abdellatif Wehbe (R) and Israeli Justice Minister Gideon Saar (L), shake hands after signing an agreement in Rabat on July 26, 2022. (AFP)
  • The two countries agreed to further strengthen cooperation and expand it to other areas, including in intelligence, air defence and electronic warfare
  • The announcement on Tuesday follows the first meeting of the monitoring committee for Moroccan-Israeli defence cooperation in the Moroccan capital

Morocco’s army said Tuesday it had agreed with Israel to strengthen military cooperation including in intelligence and cybersecurity, following defence meetings in Rabat.

The two countries “agreed to further strengthen cooperation and expand it to other areas, including in intelligence, air defence and electronic warfare,” the Royal Moroccan Armed Forces said in a statement.

The announcement on Tuesday follows the first meeting of the monitoring committee for Moroccan-Israeli defence cooperation in the Moroccan capital.

The two-day meeting examined military cooperation including in the fields of “logistics, training and the acquisition and modernisation of equipment”.

The two countries formalised ties in 2020, following similar agreements between Israel and the United Arab Emirates and Bahrain.

It followed the United States’ recognition of Moroccan sovereignty over the disputed Western Sahara region, in a quid pro quo for re-establishing ties with Israel.

That sparked concern in neighbouring Algeria, long-time backers of the Polisario movement, which seeks an independence referendum for Western Sahara.

In November 2021, Israel’s then defence minister Benny Gantz signed a memorandum of understanding in Rabat outlining security relations with Morocco.