Souhail's Feed
Jul 11, 2012

Maroc Telecom looking for 11 pct job cuts – sources

RABAT, July 11 (Reuters) – Maroc Telecom, Morocco’s
biggest telecom group, has asked for voluntary redundancies to
cut its workforce by at least 11 percent as the Vivendi
subsidiary tries to boost margins, two company sources said on
Wednesday.

Analysts said the plan, launched this month, may result in
annual savings worth at least 300 million dirhams ($33 million)
after costs to pay off the 1,500-2,000 staff Maroc Telecom is
targeting out of a 13,700-strong workforce.

Jul 2, 2012
via FaithWorld

Maiden gay cruise to Muslim land hits Morocco snag

Photo

(Port of Casablanca, 26 August 2010/Wikimedia Commons)

Organisers of an all-gay cruise have blamed Moroccan officials for the cancellation of what would have been the first visit of its kind to a Muslim country, but the tourism minister denied the ship was banned and said its passengers were welcome.

Cruise liner Holland America Line and trip organiser RSVP Vacations told the 2,100 holiday-makers aboard the MS Nieuw Amsterdam ship on Saturday that the July 1 visit to Casablanca had been cancelled.

Jun 27, 2012

Danone pays $685 mln to lead main Moroccan dairy

RABAT/PARIS, June 27 (Reuters) – French food group Danone
has agreed to pay 550 million euros ($685.14 million)
to take control of Morocco’s top dairy firm to broaden its
presence in North African markets amid weakening sales in
southern Europe.

Danone will pay a 34 percent premium above Centrale
Laitiere’s stock price to raise the 29.2 percent it
has been holding since 2001 to 67 percent, according to a
statement from the seller, National Investment Co (SNI).

Jun 18, 2012

Moroccan lender BCP buys into Ivory Coast’s Atlantique

RABAT/ABIDJAN (Reuters) – Banque Centrale Populaire (BCP) (BCP.CS: Quote, Profile, Research, Stock Buzz), Morocco’s second biggest lender, will invest 1 billion dirhams ($114 million) for a 50 percent stake in Ivory Coast’s Group Banque Atlantique, the two companies announced on Thursday.

The deal, signed in Ivory Coast’s commercial capital Abidjan, creates a new holding company grouping Atlantique’s seven banking subsidiaries as well as its finance and technology operations, according to a statement.

Jun 7, 2012

Moroccan lender BCP buys into I.Coast’s Atlantique

RABAT/ABIDJAN, June 7 (Reuters) – Banque Centrale Populaire
(BCP), Morocco’s second biggest lender, will invest 1
billion euros ($1.26 billion) for a 50 percent stake in Ivory
Coast’s Group Banque Atlantique, the two companies announced on
Thursday.

The deal, signed in Ivory Coast’s commercial capital
Abidjan, creates a new holding company grouping Atlantique’s
seven banking subsidiaries as well as its finance and technology
operations, according to a statement.

Jun 7, 2012

Moroccan PM promises poor cash from subsidy reform

RABAT, June 7 (Reuters) – Morocco’s prime minister on
Wednesday promised direct grants of cash to the poor under a
planned reform of the costly subsidy system, after his
Islamist-led government imposed last week one of the sharpest
rises in fuel prices in several years.

Abdelilah Benkirane invited needy Moroccans to open bank and
postal accounts to ensure they benefit from the reform, one of
the boldest moves taken by his government, led since January by
Justice and Development, a moderate and former opposition
Islamist party.

Jun 1, 2012

Ferrari boss sees role in Italian polls

MARRAKESH, Morocco (Reuters) – The chairman of Ferrari does not plan to run for election when Italians go to the polls early next year but will promote candidates from his think-tank to voters disillusioned with mainstream political parties, he said on Friday.

Speculation about Luca Cordero di Montezemolo’s political future has heated up since traditional parties lost ground to fringe groups in local elections in May as Italians protested against the economic crisis.

Jun 1, 2012

Motor racing-Perez needs more experience, says Montezemolo

MARRAKESH, Morocco, June 1 (Reuters) – Mexican Sergio Perez
needs to gain more experience before any move to Ferrari can
become a realistic proposition, the Italian Formula One team’s
president Luca di Montezemolo told Reuters on Friday.

Speaking on the sidelines of an FT luxury conference,
Montezemolo said it was too early for any decision on the future
of Ferrari’s under-performing Brazilian Felipe Massa and spoke
out also against any expansion of the calendar beyond the
current 20 races.

Jun 1, 2012

Motor racing-Perez needs more experience, says Montezemolo

MARRAKESH, Morocco, June 1 (Reuters) – Mexican Sergio Perez
needs to gain more experience before any move to Ferrari can
become a realistic proposition, the Italian Formula One team’s
president Luca di Montezemolo told Reuters on Friday.

Speaking on the sidelines of an FT luxury conference,
Montezemolo said it was too early for any decision on the future
of Ferrari’s under-performing Brazilian Felipe Massa and spoke
out also against any expansion of the calendar beyond the
current 20 races.

May 22, 2012

Morocco to start work on 500 MW solar plant in 2012

CASABLANCA, Morocco, May 22 (Reuters) – Morocco plans to
speed up tender processes for the development of a
2,000-megawatt solar energy plan, starting with the award this
year of a first contract for 160 megawatts to be generated using
concentrated-solar technology (CSP).

Mustafa Bakkoury, who chairs the Moroccan Agency for Solar
Energy (Masen), said a winning consortium for that first phase
of a 500-megawatt solar power plant, in the southern region of
Ouarzazate, would be announced by the start of summer.