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Morocco World
8 hours ago
- Business
- Morocco World
Morocco's Banks To Enjoy Special Eid Al Adha Holiday on June 9
Rabat – The Moroccan Professional Banking Group (GPBM) has announced Monday, June 9, as an exceptional holiday for banks. The decision followed CGEM's appeal calling on the private sector to grant employees a day off on Monday in celebration of Eid Al Adha, which will fall on June 7 in Morocco. 'Each bank is responsible for informing its employees and clients of this decision,' the group said, noting that banking institutions will also take the necessary measures to ensure an adequate supply of banknotes and the continuous and smooth operation of ATMs. The bank's statement comes just a day after the General Confederation of Moroccan Enterprises (CGEM) urged the private sector companies to grant employees a day off on June 9. CGEM said the decision aligns with the public sector, after the government announced a special holiday on Monday for employees. 'We invite, as far as possible, private sector companies to also grant Monday, June 9, as a day off to their employees,' CGEM President Chakib Alj said. Last month, the Ministry of Islamic Affairs confirmed that Eid Al Adha will be on June 7 this year. The celebration, which commemorates Prophet Ibrahim's willingness to sacrifice his son in obedience to God, falls on the tenth day of Dhu Al Hijjah- the twelfth and the last month in the Islamic calendar. Eid Al Adha will look different in the North African country this year, as Moroccans will not perform the ritual sacrifice. In February, King Mohammed VI announced the cancellation of the sacrifice ritual, citing challenges like drought. The monarch said the concern takes into account the economic and climate challenges Morocco is facing, which has led to a remarkable decline in livestock population. 'We invite you to celebrate Eid al Adha, God willing, in its usual spiritual form by attending the Eid prayer in misallas and mosques, giving alms, gathering with loved ones, and performing acts of devotion and piety – thanking God for his immense generosity and seeking reward and divine recompense,' the monarch said. Tags: Eid Al Adhaeid al adha cancelled
Morocco World
a day ago
- Business
- Morocco World
CGEM Urges Morocco's Private Sector to Grant June 9 Holiday for Eid Al Adha
Rabat – Chakib Alj, the President of the General Confederation of Moroccan Enterprises (CGEM), has urged the private sector companies to grant employees a day off on Monday, June 9, aligning with the public sector, in celebration of Eid Al-Adha, which will take place on Saturday, June 7 in Morocco. Last week, the government decided to exceptionally suspend work in state administrations and local authorities on Monday, June 9. CGEM called on companies to follow suit, noting: 'We invite, as far as possible, private sector companies to also grant Monday, June 9, as a day off to their employees,' Alj said. Eid Al Adha falls on the tenth day of Dhu Al Hijjah, the 12th and final month of the Islamic lunar calendar. The Islamic month marks Eid Al Adha or the sacrifice feast, which commemorates the willingness of Prophet Ibrahim to sacrifice his son in obedience to Allah's command. Dhu Al Hijjah also marks the Hajj pilgrimage, which will commence on June 4. While the feast is a sacred and special time in Morocco, Moroccans will celebrate it differently this time. In February, Morocco announced its decision to cancel the Eid Al Adha sacrifice ritual due to drought and a notable decrease in the country's livestock population due to dry seasons that affected Morocco's agriculture sector for six years in a row. This is not the first time Morocco has canceled the Eid Al Adha sacrifice ritual. The first time dates back to 1963 when the late King Hassan II announced the cancellation of the sacrifice ritual during the Sand War between Morocco and Algeria, as it affected the two countries' economies. The second time was in 1981, and the cancellation was due to drought, as well as in 1996. Last week, ONCF announced that it has expanded the train schedule ahead of Eid Al Adha from May 30 to June 15 to help travelers move easily and safely during the holiday. The program includes up to 237 trains per day across the national network. ONCF also pledged to add extra trains on the main routes to help passengers during busy times. Tags: Eid Al Adhaeid al adha 2025
Business Insider
23-05-2025
- Health
- Business Insider
Cullinan Therapeutics to present new results from REZILIENT1 trial
Cullinan Therapeutics (CGEM), Taiho Pharmaceutical and Taiho Oncology announced new results from the pivotal Phase 2b cohorts of the REZILIENT1 trial, a Phase 1/2 clinical trial of zipalertinib monotherapy in patients with advanced or metastatic non-small cell lung cancer with epidermal growth factor receptor exon 20 insertion mutations who have received prior therapy. These data will be presented on Sunday, June 1 at the American Society of Clinical Oncology annual meeting as an oral presentation. As of the December 2024 data cutoff, 244 patients were enrolled in REZILIENT1 and received at least one dose of 100 mg zipalertinib. The overall efficacy population consisted of all patients who received at least one dose of 100 mg zipalertinib and had approximately 8 months of minimum follow-up at data cutoff. Patients had received a median of 2 prior therapies, and 39% of patients had a history of brain metastases. With median follow-up of 9.3 months, zipalertinib demonstrated: In the overall efficacy population, confirmed overall objective response rate was 35% with median duration of response of 8.8 months; in patients with prior platinum-based chemotherapy only, ORR was 40% with mDOR of 8.8 months, consistent with REZILIENT1 Phase 1/2a results; in patients with prior chemo and amivantamab, ORR was 30% with mDOR of 14.7 months; in patients with prior chemo and amivantamab, ORR was 24% with mDOR of 8.5 months and in patients with brain metastases, the ORR was 31% with mDOR of 8.3 months. The safety analysis population included all REZILIENT1 patients who received at least one dose of 100 mg zipalertinib. The results showed that zipalertinib demonstrated a manageable safety profile in this heavily pre-treated patient population, consistent with previously reported data. The most common treatment-related adverse events were paronychia, rash, dermatitis acneiform, dry skin, diarrhea and stomatitis. The majority of TRAEs were grade 1 or 2. The most common grade 3 TRAEs were anemia, pneumonitis and rash, increased alanine aminotransferase, diarrhea, and decreased platelet count.
Morocco World
15-05-2025
- Business
- Morocco World
New VSEs Support Program to Benefit 110,000 Small Businesses in Morocco
Doha – Morocco's government will soon launch a new program dedicated to supporting very small enterprises (VSEs). The announcement came Thursday in Casablanca from Younes Sekkouri, Minister of Economic Inclusion, Small Business, Employment and Skills. 'This new mechanism aims to support VSEs across multiple areas, such as rent, accounting, or the acquisition of professional equipment, with a target of 110,000 beneficiaries,' Sekkouri stated. The minister was speaking at the first edition of the MSMEs (Very Small and Medium Enterprises) Forum organized by the General Confederation of Moroccan Enterprises (CGEM). The event was themed 'Inspire to Transform.' The program will focus on financing operating expenses for VSEs, self-entrepreneurs, and entrepreneurs under the CPU regime. With a budget of MAD 1 billion ($100 million), the initiative will be implemented in the coming weeks. Sekkouri stressed the need to strengthen leadership mechanisms, mediation, and information flow for TPMEs. He noted that some small businesses still face inappropriate responses from banking institutions due to a lack of understanding of their specific characteristics. The minister advocated for a more efficient and responsive guarantee system. This system would quickly detect difficulties and provide committed solutions. On financing, Sekkouri acknowledged that despite state guarantee mechanisms, many young entrepreneurs still encounter obstacles to access. A joint commission with the Ministry of Economy and Finance has been established to engage in in-depth consultation with banks. Addressing administrative simplification, the minister flagged the urgency of reforming the commercial and administrative authorization system. He called it a brake on TPME development. Sekkouri pushed for a transition to a model based on specifications, describing it as 'more flexible and better adapted to economic reality.' This strategic project is already underway, coordinating with several work teams to unleash entrepreneurial potential, particularly among young people. Read also: Morocco Records 78,244 New Businesses in First 10 Months of 2024 The minister also revealed that a comprehensive overhaul of the National Agency for Employment and Skills Promotion (ANAPEC) programs is underway. This particularly targets young people without diplomas. Regarding the new Labor Code, Sekkouri affirmed it will be finalized by year-end following a pragmatic approach in consultation with various social partners. 'This new code will, for the first time, regulate remote work and part-time work, opening new professional opportunities,' he emphasized. The TPME Forum featured inspiring testimonials from business leaders and a panel of entrepreneurs from various sectors. They discussed real-world challenges: launch stages, daily obstacles, financing needs, team management, and digital transition. The event also included two masterclasses. One centered around financing problems faced by TPMEs and available market solutions. The other provided tools for small businesses to respond to artificial intelligence challenges and seize opportunities. Through this first edition of the MSMEs Forum, CGEM reaffirmed its commitment to making small businesses a central lever for wealth and job creation. MSMEs represent 95% of CGEM members across Morocco. Tags: MSMEsSmall businesses in moroccoYounes Sekkouri
Morocco World
05-05-2025
- Business
- Morocco World
Egypt-Morocco Investment Forum Kicks Off in Cairo to Boost Trade Relations
Rabat — Morocco and Egypt seem to be on track towards boosting their trade relations as the two countries held a significant Egypt-Morocco Investment and Trade Forum on Sunday in Cairo. The gathering brought together officials, economic players, and business leaders from Morocco and Egypt under the theme 'A Broad Economic Partnership.' The forum is part of the visit of a Moroccan economic delegation to Egypt from the 3rd to the 5th of this month, led by Morocco's Secretary of State for Foreign Trade, Omar Hejira. The General Confederation of Moroccan Enterprises (CGEM), in coordination with the State Secretariat for Foreign Trade, initiated the mission with the aim to strengthen the presence of Moroccan products in the Egyptian market. This includes both increasing avenues for exporters from both countries as well as creating investment opportunities. The delegation has set an ambitious target of reaching $500 million in Moroccan exports to Egypt by 2026. Meanwhile, the forum offers a chance to establish productive partnerships between the economies of both countries. Business leaders and Moroccan companies attended the event from various sectors, including agriculture, food and automotive industries, electricity, electronics, textiles, seafood products, energy and renewable energies, pharmaceuticals, medical and paramedical products, cosmetics, and construction. Both Hejira and the Egyptian Minister of Investment and Trade Hassan El Khatib co-chaired the forum, reflecting a shared commitment to explore significant potential for cooperation and complementarity between the two countries. The economic meeting sets the tone for a further deeper cooperation, not only between Morocco and Egypt, but potentially to develop partnerships with other African countries. This Moroccan economic mission to Cairo follows El Khatib's visit to Morocco on February 27, when he met with Moroccan officials. During El Khatib's visit, high-level officials met to agree on joining efforts to facilitate trade between Morocco and Egypt, one of them being the creation of the Egyptian 'Fast Track' system. The newfound system aims to increase the volume of Moroccan exports to Egypt — particularly in the automotive sector — and promote trade partnerships and business networks between private sector players from both countries.
