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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.
  • Thousands in Morocco call for end to Gaza war, normalization deal with Israel

    Rabat, Morocco -- Tens of thousands of Moroccans demonstrated Sunday in the capital Rabat against the dire humanitarian situation in the Gaza Strip, calling for the reversal of the kingdom's normalization deal with Israel. Protesters gathered in the city center, brandishing Palestinian flags and placards calling for the free flow...
  • Morocco’s Atlantic gambit: linking restive Sahel to ocean

    Dubai, UAE -- A planned trade corridor linking the landlocked Sahel to the Atlantic is at the heart of an ambitious Moroccan project to tackle regional instability and consolidate its grip on disputed Western Sahara. The "Atlantic Initiative" promises ocean access to Mali, Burkina Faso and Niger through a new...
  • Morocco set for sheepless Eid as drought persists

    As the Islamic festival of Eid al-Adha approaches, Fatima Kharraz can't seem to find the usual sense of celebration after drought-stricken Morocco urged people to forego the traditional sheep sacrifice this year.
  • Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023

    Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking normalization agreements with Israel in 2020 -- appeared to have sharply risen from 3 percent in 2023 to 12 percent.
  • Stitching change: Moroccan women weave livelihoods through Art

    Sidi Rbat, Morocco - In a small village on the coast of southern Morocco, women gather in a house to create collaborative works of textile art, and also earn a living. Several hunch over large canvasses, embroidering their latest piece at the women-only workshop, in the village of 400 people....
  • UAE-Morocco consortium sign $14 billion worth of energy, water infrastructure projects

    Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of the companies involved were worth more than $14 billion.
  • Morocco to reopen embassy in Syria after Assad fall

    Morocco said Saturday it will reopen its embassy Damascus, closed since 2012, signalling renewed support for Syria after the overthrow of longtime ruler Bashar al-Assad.
  • Morocco volunteers on Sahara clean-up mission as part Nomads Festival

    M'HAMID EL GHIZLANE, Morocco - It may be the gateway to the vast Sahara desert, but that does not mean it's free of that modern scourge of the environment -- the rubbish humanity discards. In southern Morocco, volunteers are hunting for waste embedded in the sand, and they do not...
  • US approves $825 mn Stinger missile sale to Morocco

    The United States on Tuesday announced the approval of an $825 million sale of up to 600 Stinger anti-air missiles and related equipment to Morocco.
  • US reiterates support for Morocco on Western Sahara

    Secretary of State Marco Rubio on Tuesday renewed US support for Morocco's sovereignty and political plan for Western Sahara, a long source of contention with Algeria.
  • Thousands rally in Morocco at pro-Palestinian protest

    Tens of thousands of people demonstrated in Morocco's capital on Sunday against the conflict in the Gaza Strip where Israel has resumed its anti-Hamas offensive after a two-month ceasefire.
  • Morocco ‘water highway’ averts crisis in big cities but doubts over sustainability

    Morocco is spending hundreds of millions of dollars on tapping northern rivers to supply water to parched cities farther south but experts question the sustainability of the project in the face of climate change.
  • Moroccan enterprises give jobs, hope to people with disabilities

    Rabat, Morocco -- Fadoua Lamrani was elated when she was hired as a waitress at a restaurant in Morocco which employs people with mental disabilities.The 33-year-old is among some 60 people with mental health conditions working at the eatery located on a farm and run by the Centre for Integration and Help...
  • Tunisia, Algeria, Libya hold ‘advisory’ meeting to create new regional coalition

    The meeting was decided on by Algerian President Abdelmajid Tebboune, Libya's head of presidential council Mohamed Al-Menfi and Tunisian President Kais Saied when they met at an energy summit in Algeria last month. When the meeting was announced, Moroccan media outlets said it had been part of Algeria's aim to...
  • Visa-free policies make Middle East preferred destination for Chinese travelers

    Dubai, UAE - As China's outbound tourism steadily rebounds from the pandemic's impact, the Middle East is emerging as a preferred destination for Chinese travelers, alongside traditional hotspots like Thailand and Malaysia.Data from online travel agencies including Ctrip, Tongcheng, Tuniu, Mafengwo, and Zuzuche indicates a significant rise in Chinese tourists...
  • Morocco aims to increase exports by 12% in 2024, says kingdom’s trade minister

    Dubai, UAE-- Morocco hopes to increase its exports by 12 percent this year, according to the kingdom's minister of industry and trade, Ryad Mezzour.In statements to the Emirates News Agency (WAM), on the sidelines of the opening day of the 13th WTO Ministerial Conference hosted by the UAE in Abu...
  • Thousands in Morocco protest ties with ‘genocidal’ Israel

    In late 2020, Morocco established diplomatic ties with Israel under the Abraham Accords brokered by the United States which saw similar moves by the United Arab Emirates and Bahrain. As part of the deal, Rabat received Washington's recognition of its claim to sovereignty over the disputed territory of Western Sahara.
  • Climate change parches Morocco breadbasket amid policy pitfalls

    Berrechid, Morocco -- Around this time every year, Moroccan wheat farmer Abderrahim Mohafid is usually preparing for his spring harvest, but this year his fields lay unusually bare.On the road leading up to his hamlet in Berrechid province, Morocco's historical breadbasket situated some 40 kilometers (about 25 miles) southeast of Casablanca,...
  • Morocco joins UAE, Jordan, Egypt, Bahrain in regional industrial collaboration

    Manama, Bahrain – Morocco became the fifth country to join the UAE, Jordan, Egypt and Bahrain at the fourth meeting of the Higher Committee of the Industrial Partnership for Sustainable Economic Development which began on Thursday here. The Executive Committee of the now five country partnership held meetings with officials,...
  • Saudi Arabia signs MoUs with four countries for development in mining industry

    RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the Democratic Republic of Congo (DRC), Egypt, Morocco, and Russia.One of the aims of these MoUs is to foster international cooperation in minerals between Saudi Arabia and these countries.According to the...
  • Morocco law reform offers hope for women’s rights

    Rabat, Morocco - Two decades after a landmark but limited revision of Morocco's family law marked a breakthrough for women, activists hope new reforms will defy objections and provide greater equality.The reform of the legal code was ordered directly by King Mohammed VI, who is expected to have the final say...
  • Morocco doles out aid to low-income families

    The launch comes a decade after the social benefits program was proposed, and as part of an overhaul of social services announced in 2020 by King Mohammed VI. Government aid so far has been indirect, with the state subsidizing some goods but not offering payments to low-income people.
  • Makkah, Morocco’s Beni Mellal-Khenifra Chambers of Commerce ink pact

    MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of Beni Mellal Khenifra in Morocco signed a partnership agreement to strengthen economic and commercial cooperation.The agreement was signed on Sunday in the presence of the Assistant Consul General at the...
  • Moroccans protest against Gaza war, Israel ties

    The protesters were called to the streets by a disparate group of organizations backing the Palestinian cause, including left-wingers and members of the Islamist Justice and Charity movement. They marched along Mohammed V Avenue in the heart of the city, beneath banners declaring "stop the war of extermination in Gaza,...
  • Moroccan officials questioned in EU graft probe

    BRUSSELS, BELGIUM - Several Moroccan officials have been questioned as part of a high-profile investigation into alleged bribery by the north African state and Qatar at the European Parliament, Belgian prosecutors said on Saturday.The interviews in Morocco -- conducted by local authorities in the presence of Belgian investigators -- were the...
  • World Bank to expand climate funding in MENA by $10 billion

    Brhane said the World Bank integrated climate into all its work across the MENA region and is on track to align 100 percent of new operations with the goals of the Paris Agreement.
  • Morocco gardening school cultivates hope for marginalised youth

    Launched by the Islamic Culture Foundation in 2018, Bouregreg Med-O-Med school provides free training to dropouts and other marginalized youths threatened with unemployment. Every year, the school takes in up to 90 apprentices, "young people who come from complicated family situations... and from really precarious and difficult surrounding neighborhoods, said...
  • Tens of thousands of Moroccans in pro-Palestinian demo

    The fledgling rapprochement between the North African country and Israel had made steady progress since 2020 when the two governments normalized relations, but that has been thrown into reverse by the deadly conflict in the Palestinian territory. Morocco, the United Arab Emirates and Bahrain all established diplomatic ties with Israel...
  • Ducab, Somagec ink MoU

    The MoU will enable UAE-based firm to enter Angolan market.
  • Saudi Arabia emerges as only bidder for 2034 World Cup

    The Saudi bid comes one year after neighboring Qatar hosted the first World Cup in the Middle East, where the kingdom's national team scored a surprse group stage victory over eventual winners Argentina. It is set to take over from a tri-continental line-up for the 2030 event to be shared...
  • No suspension for Mazraoui over Gaza post, says Bayern Munich

    Berlin, Germany - Bayern Munich on Friday said defender Noussair Mazraoui would not be suspended, after a probe into the Moroccan player over his social media posts on the Israel-Hamas conflict.In the wake of the deadly attack on Israel by Hamas, Mazraoui had put up several pro-Palestinian posts, including one that...
  • GCC states post 7.3 percent GDP growth in 2022: Albudaiwi

    Marrakech, Morocco-- In spite of economic disruptions, policymakers in the GCC countries have successfully alleviated the economic ramifications of the challenges they have faced, according to Jassem Mohamed Albudaiwi, the Secretary-General of the Gulf Cooperation Council (GCC).He added that the GCC nations experienced substantial growth in their gross domestic product...
  • UAE allots US$200m to boost growth in low-income countries

    Marrakech, Morocco-- The UAE has allotted $200 million to the Poverty Reduction and Growth Trust (PRGT) to expand concessional financing for low-income countries. This aligns with the UAE’s unwavering efforts to realize the United Nations’ Sustainable Development Goal 1 (SDG 1) – no poverty – alongside other challenges that the...
  • IMF agrees on rise in funding, extra Africa board seat

    The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third seat on its executive board at its first meetings on the continent since 1973. Spanish Economy Minister Nadia Calvino, who chairs the IMF Financial Committee, said there was an agreement...
  • SFD to provide US$20m loan to Central African Republic for development projects

    MARRAKESH, MOROCCO - The CEO of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, signed an additional US$20 million loan agreement with Central African Republic (CAR) Prime Minister Félix Moloua.The agreement was signed on the sidelines of the 2023 World Bank and International Monetary Fund (IMF) Annual Meetings...
  • GCC keen to address economic problems: Albudaiwi

    Marrakesh, Morocco-- The Gulf Cooperation Council (GCC) attaches great importance to finding solutions to economic problems such as the eradication of poverty and enhancing food security, according to the GCC Secretary General Jassem Mohamed Albudaiwi. He made the remarks in connection with the participation of the council member states in...
  • Africa’s exports expected to hit close to $1 trillion by 2035: Standard Chartered

    Marrakesh, Morocco – Africa’s total exports will reach $952 billion by 2035 and the African Continental Free Trade Area (AfCFTA), once fully implemented, has the potential to increase this figure by a further 29 percent, a Standard Chartered report has revealed. This represents an annual growth rate of 3 percent from...
  • Yellen urges more IMF, World Bank reforms for climate, poverty fight

    Benguerir, Morocco - US Treasury Secretary Janet Yellen said on Tuesday she backed efforts to boost the lending firepower of the IMF and World Bank to combat poverty and climate change.Speaking on the sidelines of the IMF-World Bank annual meetings in Morocco, Yellen said the global lending system had already changed...
  • IMF forecasts UAE GDP growth of 3.4% in 2023

    MARRAKESH, MOROCCO - The International Monetary Fund (IMF) has forecast that the UAE's real Gross Domestic Product (GDP) will grow by 3.4 percent in 2023 and 4 percent in 2024.The IMF's forecast is in line with that of the World Bank, which released a similar estimate two days ago.The IMF said...
  • World economy resilient, says IMF; keeps growth forecast unchanged

    The IMF kept its 2023 global growth forecast unchanged but warned that the economy is "limping along" as inflation remains high and the outlooks for China and Germany were downgraded. The IMF's updated World Economic Outlook still sees growth of 3.0 percent for this year but it cut its forecast...
  • Most Arab youth against normalization with Israel, more so Palestinians: survey

    Dubai, UAE - The majority of Arab youth are against the normalization of relations with Israel, with Palestinians and Iraqis being the most vehemently opposed, the 2023 Arab Youth Survey reveals.However, those from the UAE, Morocco and Egypt are supporting it. What is more, the normalization is opposed by the 98% of...
  • IMF approves $1.3bn for Morocco to help transition to a greener economy  

    WASHINGTON, US - The International Monetary Fund (IMF) Executive Board approved a Resilience and Sustainability Facility (RSF) for Morocco of about US$1.3 billion.The arrangement will support Morocco’s transition to a greener economy and help strengthen its preparedness and resilience against natural disasters, including from climate change, the Washington-based institution pointed...
  • Morocco looks to become key player in green hydrogen

    According to the country's economy minister, around 1.5 million acres of public land -- nearly the size of Kuwait -- have been set aside for green hydrogen and ammonia plants. Morocco is looking to become North Africa's top player in the emerging "green hydrogen" sector, with plans to export the...
  • Morocco, Algeria set to host Cup of Nations tournaments

    After a number of deadlines passed without the hosts being revealed, a senior African Football Confederation (CAF) official told AFP "the two hosts will definitely be named on September 27". Committee members will vote after studying independent appraisals of each 2025 and 2027 candidate, but politics and a promise of...
  • Belt and Road Initiative countries expect more cooperation ahead of China-Arab expo

    YINCHUAN, CHINA - In the run-up to the sixth China-Arab States Expo, guests from countries and regions along the Belt and Road expressed their expectations for further cooperation with Beijing.On Tuesday, northwest China's Ningxia Hui Autonomous Region opened its third international friendship-cities forum in Yinchuan, the regional capital.Among all the...
  • Red Cross seeks over $100m aid for quake-hit Morocco

    GENEVA, SWITZERLAND - The Red Cross appealed on Tuesday for more than $100 million to provide desperately needed assistance in Morocco, days after a powerful earthquake killed nearly 2,900 people."We are seeking 100 million Swiss francs (US$112 million) to be able to deliver on the most pressing needs at this time,"...
  • Global aid pours into Morocco as quake death toll passes 2,100

    The International Federation for Red Cross and Red Crescent Societies has warned that the next 24 to 48 hours will be critical for saving lives as the death toll keeps rising. At the same time, global aid and support has begun to pour into Morocco, led by the UAE, Qatar,...
  • Situation in Morocco in the aftermath of quake

    PARIS, FRANCE - Rescuers in Morocco were scrambling on Sunday to reach people trapped under the rubble after a powerful earthquake that killed more than 2,000 people and decimated entire villages.Here's what we know so far:  Strongest-ever in MoroccoA 6.8-magnitude quake, according to the US Geological Survey - the strongest in...
  • Deadliest quake in decades kills over 2,000 in Morocco; rescue bid is on

    Following the devastating earthquake in Morocco on Saturday that killed more than 2,000 people so far, the UAE, Iran, Iraq, Jordan, Algeria and Israel along with several other countries offered condolences, support, and assistance. UAE President Sheikh Mohamed bin Zayed Al Nahyan emphasized solidarity with Morocco and ordered critical relief...
  • Airspace open for aid flights to quake-hit Morocco, says Algeria

    ALGIERS, ALGERIA - Algeria will allow aircraft carrying humanitarian aid to quake-hit Morocco to pass through its airspace, the president's office announced on Saturday, suspending a two-year ban on flights to its regional rival.A 6.8-magnitude earthquake struck a mountainous area southwest of the Moroccan tourist hotspot of Marrakesh late Friday, killing...
  • Deadliest quake in decades kills over 1,000 in Morocco; rescue bid is on

    Following the devastating earthquake in Morocco on Saturday that killed more than 1,000 people so far, the UAE, Iran, Iraq, Jordan, Algeria and Israel along with several other countries offered condolences, support, and assistance. UAE President Sheikh Mohamed bin Zayed Al-Nahyan emphasized solidarity with Morocco and ordered critical relief delivery.