Beverage Market
Mecca-Cola Breaks Relations with its Moroccan Affiliate
Paris-based soft drink company Mecca-Cola, which hopped to establish itself in Morocco, withdrew its support to its Moroccan affiliate. The company's CEO Tawfik Mathlouti announced Mecca-Cola business partner in Morocco will no longer market, distribute, and produce the drink, citing "hazardous management and opacity of the affiliate accounting practices." Mecca-Cola Morocco opened its doors on April 8, 2003. The move was made possible thanks to the help of Omar El-Alami, a local businessman who manages the family-owned business Mifa. A Moroccan subsidiary was created with an initial investment of Dh 10 million, with the goal of making the new unit the launching pad for an African expansion.
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Relations-Trade
Algeria, China Deepen Cooperation With Oil And Gas Agreement
Algeria and China signed several cooperation pacts during a two-day visit by Chinese President Hu Jintao, including an agreement on oil and gas, much needed by China to fuel runaway growth. A framework energy agreement, along with accords on research and educational exchanges, and economic and technological cooperation, was signed in a deal aimed at developing bilateral trade in the oil and gas sector, according to officials.
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Germany Resolves Libya Debt Wrangle, Paving Way For Investment
Germany announced that it had signed an agreement with Libya after years of negotiations under which Tripoli will repay millions of dollars of outstanding debt. Economy Minister Wolfgang Clement of Germany and Libyan Finance Minister Al Ageli Abdussalam Ibreni penned the accord recently...
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Algeria's Biggest Islamic Rebel Group Split By Rift, Diminished By Raid
Algeria's biggest Islamic rebel group, the Salafist Group for Preaching and Combat (GSPC), has been weakened by an internal rift and its numbers diminished by an army raid in which a dozen insurgents were killed, newspapers said Tuesday.
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France's Bouygues Starts Work To Shore Up Morocco's Grand Mosque
French engineering giant Bouygues has begun work to shore up the Hassan II grand mosque in the Moroccan port city of Casablanca, which threatens to fall down. Part of the mosque, built by Bouygues and inaugurated in 1993, overlooks the Atlantic Ocean and was reported have "pillars threatening to collapse, cracked concrete and ruptured steel".
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The Financial Sector: Algeria's Weakest Link
The financial sector in general and the banking system in particular are Algeria's weakest points in the overall economic landscape. A long overdue reform has failed to propel the financial sector into an industry that should otherwise play a driving factor in growing the Algerian economy. The financial sector is not only sick but it is also the object of mockery in the public, the media and even among politicians. Often referred to as a "simple money collector," most in Algeria consider the financial sector as a "danger to the national economy," yet no one has been able to implement meaningful reforms.
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in this issue The Financial Sector: Algeria's Weakest Link Trade/Economy Tunisia Continues to Lower Customs Taxes for Products Imported from the EU Telecoms New Incentives to Boost Residential Internet in Morocco Information Beverage Market Mecca-Cola Breaks Relations with its Moroccan Affiliate FIAT: Half Way Out of Morocco Human Issues Poll Results Show Troubling Sentiments on Immigration Among Moroccans Rabat Appeal's Court Confirms Sentencing of the 14-Year Old Twin Sisters Law Shortage of Medical Specialists in Morocco Livestock/Trade Ghardaia Provincial Authorities Ban Import of Sheep from Sub-Sahara Africa Travel and Tourism Jet Air and TUI in Talks with Morocco New Law Aimed at Regulating Fisheries in Morocco Tourism Entry of Foreign Tourists in Tunisia Flat, Shortened Stays, but Higher Revenues Trade/Agriculture Morocco-US Reach Agreement on Agriculture Agriculture Tunisian Farmers Get Added Subsidies Finance Morocco's Credit Agricole to Expand its Banking Activities Banks Waiting to Do Business in Algeria Banking/People CEO and Founder of Credit Financing Firm Maghrebail Retires Banking/Sport Sponsorship Banking Sector Supports Morocco's Efforts to Win the 2010 World Cup Bid CDG Group Purchases Land from Defunct Sogeta and Sodea Telecom Orascom Algeria Says GSM Subscriber Base is 1.2 million Construction Risma Raises Funds for the Construction of the Casa City Center Telecom Algeria's Mobilis GSM Phone Network to Sell First Batch of Pre-paid Service in February Industry Richbond of Morocco Expands Production Capacity Morocco - SMBs SMB Assistance Funds Insufficiently Used U.S.Export-Import Bank Loan for Power Project in Eastern AlgeriA Construction Turkish Firms to Build 5,000 Houses in Morocco Infrastructure Possible French Funding for Algiers Subway System Politics Five Moroccan Political Parties Announce New Leftwing Alliance US-Libya US, Libya To Open Talks This Week On Normalizing Relations Immigration Control Tunisian Lawmakers Pass Law To Bust People-Trafficking Gangs Algeria's Berbers Say No To Referendum On Language Algeria's Biggest Islamic Rebel Group Split By Rift, Diminished By Raid Germany Resolves Libya Debt Wrangle, Paving Way For Investment Algeria, China Deepen Cooperation With Oil And Gas Agreement France's Bouygues Starts Work To Shore Up Morocco's Grand Mosque Tunisia's Nouvelair To Offer Scheduled Flights Between Monastir, London Morocco Awards Malaysia's Petronas Offshore Oil Exploration Rights

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