Morocco Financial News

Ryanair flight was diverted just 36 minutes into its journey after a mass brawl erupted between passengers. The chaos unfolded on an evening flight from Agadir to London Stansted, forcing the plane to make an emergency landing in Marrakesh, reported The Sun. Shocking footage shows passengers screaming at each other while airline staff frantically tried to calm the situation at 30,000 feet. The commotion started during boarding when a man in his late 20s asked another passenger to move so he could sit with his wife and children. The woman, seated with her daughter, refused to budge, prompting the man to start threatening her. The flight took off without further incident, but as soon as the seat belt signs were turned off, the woman's husband, in his 30s, jumped to her defense. Punches were thrown between the two men, and other passengers from a larger group began to join in.

Pepsi and Coca-Cola, a staple of countless Indian television advertisements over the decades, seems set to spill over into the Indian stock markets. Ravi Jaipuria, chairman of RJ Group, began his career as a vendor for Coca-Cola before switching allegiance to Pepsi in the 1990s. His group's flagship company, Varun Beverages, now stands as the largest bottler of PepsiCo's beverages globally, outside the US.

Investment in electric vehicle manufacturing is booming in Morocco, a country that neighbors Europe and enjoys a free trade agreement with the United States

Wheat yields plummeted last year to 1 ton per hectare (2.5 acres), his smallest harvest ever, as the worst drought period in three decades envelops the North African nation. The 25-foot-deep well on Sadiri’s plot dried up, and he can’t afford to dig any deeper. So now he’s trying barley, a more resilient crop. Sadiri is among 1.2 million grain farmers suffering the brunt of climate change in Morocco, where the frequency of droughts has quintupled this century. The impact will ripple far beyond its borders: The country stands to bring in record volumes of wheat — at a time when major shippers like France and Russia are suffering harvest setbacks of their own — and less of its fruit and vegetables will line store shelves in Europe, the US and the rest of Africa.

visa applications in 2023. Out of the 151,752 visa requests filed by Indian nationals, a substantial number were denied. This led to an estimated loss of €12.1 million in visa application fees for Indian applicants, highlighting the financial burden on those attempting to travel to Schengen countries. In 2023, Schengen states rejected a total of 1.6 million visa applications, resulting in €130 million in generated funds, according to SchengenNews. Among the affected nationalities, Indian applicants faced significant financial losses due to high visa rejection rates. Other nationalities facing high rejection rates included Turks, Algerians, Moroccans, and Chinese. Turkish nationals experienced the highest monetary loss, with €13.5 million spent on rejected visa applications. Algerians followed closely, losing €13.3 million, while Moroccans lost €10.9 million, and Chinese applicants faced losses of €4.8 million despite having one of the highest approval rates.

Eid-ul-Adha, a significant Islamic festival, is observed on the tenth day of Dhu-al-Hijjah, the last month of the Islamic lunar calendar. This festival, also known as the Feast of Sacrifice, is celebrated the day after the annual Hajj pilgrimage concludes. It commemorates Prophet Ibrahim's willingness to sacrifice his son, Ismail, as an act of obedience to Allah. At the moment of sacrifice, Allah replaced Ismail with a ram, symbolizing divine intervention and reward for unwavering faith.

military officials from the U.S. and its top African allies watched intently as dust and flames shot up from pieces of the Sahara Desert hit by tank and artillery fire. They looked up as pilots flew F-16s into formation. And they listened intently as Moroccan and American personnel explained how they would set up beachheads to defend the Atlantic coastline in the event of a potential invasion. The practice scenario was among those discussed during African Lion, the United States' largest annual joint military exercise on the continent, which concluded Friday in Morocco.

AFP, the poolside event showcased Moroccan designer Yasmina Qanzal's collection, which included predominantly one-piece swimsuits in shades of red, beige, and blue. Many models had exposed shoulders, and some displayed partially visible midriffs. “It's true that this country is very conservative but we tried to show elegant swimsuits which represent the Arab world," Qanzal told AFP.

Morocco has grown its automotive industry from virtually non-existent to Africa’s largest in less than two decades

A pod of orcas rammed another yacht sailing through the Strait of Gibraltar until it began taking on water and sank.

Democracy Perception Index revealed a striking sentiment among Indians, with nearly 75% expressing concern that global corporations pose a threat to democracy. As per the survey findings, after economic inequality and corruption, global corporations are viewed as the third most significant threat to democracy. The US also stands out as among the countries with the highest levels of the perceived threat from global corporations. India is also ranked top among countries fearing that big tech companies like Google, Amazon and Meta threaten democracy.

Moroccan officials are aiming to turn the country into an aviation hub, luring investors aiming to spread out their supply chains to more nations with available and affordable workers

Crypto adoption is heating up in the Middle East, with the average daily number of crypto traders in the area surpassing 500,000 in February 2024, according to Bitget Research.

heat extremes could become an «emerging feature» of a warmer planet, according to a new study. The new research that reviewed the weather and climate of 2023 also said that many of the extreme events experienced last year are consistent with predictions previously made about a warmer world. Putting the events of the warmest year on record in perspective, researchers said that in a warmer future, more events involving record-breaking hot temperatures occurring earlier in the year, and cyclones exacerbating rainfall extremes are in order. Change in seasonality of extreme events too is another trend the researchers observed.

Oscar-winning actor Anthony Hopkins is set to portray King Herod in the upcoming biblical thriller 'Mary,' alongside newcomer Noa Cohen in the titular role. Filming has recently concluded in Morocco, and the movie promises a gripping retelling of the classic story, a Deadline report said. Cast

Stocks to buy: IndiGo, Adani Ports, Jindal Steel among 5 stocks that can rise 12-53% in next 1 year, say brokerages The analyst expects the strong momentum to continue going forward, led by a further improvement in occupancy and ARR, on the back of a resilient demand scenario, an increase in ARR with the addition of Aurika MIAL and room renovations, and a strong addition of hotel under management contracts. Management expects mid-teen ARR growth with an occupancy rate of over 70 per cent in FY25.

Regional and local leaders in Morocco met this week with residents of an oasis where many have staged protests over a water management plan

A legal adviser to the European Union’s top court has recommended that it annul Europe's fishing agreement with Morocco, which would have allowed European boats to fish for valuable catch off the coast of the disputed Western Sahara

Bitcoin’s record high above $72,000 hasn’t changed the Indian government’s position on crypto, according to Finance Minister Nirmala Sitharaman.

BCCI, every year organizes the Indian Premier League (IPL), which is a 20-over format franchise league tournament that commenced in 2008. The first match of IPL history was won by Kolkata Knight Riders (KKR) who emerged victorious by a huge margin against the mighty Royal Challengers Bangalore. This year's Indian Premier League (2024) will be held from March 22 but latest reports suggest some matches may be scheduled in Dubai due to the national general elections (Lok Sabha) happening in India during the same timeframe. However, there is no official confirmation from BCCI on this.

Climate change and a yearslong drought have forced Morocco's famous public baths to close a few days a week in an effort to save water