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Bank Al-Maghrib Surpasses Expectations with 27% Profit Surge in 2024

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Bank Al-Maghrib Surpasses Expectations with 27% Profit Surge in 2024

In a world marked by political turbulence and economic shocks, Morocco offers a striking contrast: a nation led by a sovereign whose speeches are rare but transformative, whose governance is not reactive but methodical. Since ascending the throne in 1999, King Mohammed VI has imposed a unique leadership philosophy — one defined by clarity, rigor, and pedagogy.

“His Majesty has institutionalized a governance model where words are not performative, but operational. Each royal address sets the tone for reform, national cohesion, and long-term vision,” said Dr. Salma Bennani, a political science professor at Mohammed V University.

This disciplined approach to leadership is now bearing fruit across Morocco’s institutions — from its strengthened ties with the United States to its robust financial performance and growing clout on the African continent.


Strategic Alliance with the United States: From Dialogue to Deployment

A major geopolitical milestone is underway as Morocco and the United States transition from diplomatic alignment to operational partnership. The two nations are entering what observers call a “large-scale strategic alliance” — one built on economic investment, joint security cooperation, and shared regional priorities.

This alliance gained traction in recent months with new American investments in Morocco’s green energy and digital infrastructure sectors, alongside expanded counterterrorism cooperation.

“What we are seeing now is not just symbolic diplomacy, but a convergence of security, trade, and innovation,”
Senior U.S. Embassy Official in Rabat

The collaboration includes active dialogue on cyber resilience, logistics, and military interoperability — key elements that position Morocco as a pivotal U.S. partner in the Mediterranean and Sahel regions.


Continental Recognition: AU Hails Morocco’s Economic Diplomacy

Eight years after its return to the African Union, Morocco’s presence is no longer that of a rejoining member but of a continental leader. AU Commission President Mahmoud Ali Youssouf recently applauded Morocco’s “active, pan-African, and structured economic diplomacy,” citing its role in infrastructure, banking, and agritech development across sub-Saharan Africa.

From logistics hubs in Dakar to phosphate projects in East Africa, Moroccan firms — often backed by strategic state planning — are exporting not only capital, but a vision for African-led growth.

“Morocco’s approach is not paternalistic. It’s partnership-driven, and that makes all the difference,”
AU Development Advisor, Addis Ababa


Bank Al-Maghrib: A 27% Surge Reflects Monetary Resilience

Morocco’s central bank, Bank Al-Maghrib, closed 2024 with a remarkable 27% increase in net profits, reaching MAD 6.46 billion. The performance is underpinned by conservative monetary policy, successful currency management, and strategic investment returns.

This fiscal strength reinforces market confidence amid global headwinds.

“Our objective remains the same: maintaining monetary stability while facilitating inclusive growth,”
Abdellatif Jouahri, Governor, Bank Al-Maghrib

The bank also emphasized continued investment in digital transformation and inflation control — solidifying Morocco’s standing among the most stable emerging market economies.


Capital Markets Surge: Institutional Confidence Drives Growth

In the first quarter of 2025, Morocco’s capital markets witnessed a strong resurgence. Institutional investors — particularly local legal entities and UCITS (Undertakings for Collective Investment in Transferable Securities) — accounted for 67% of all traded volumes, signaling a deepening trust in the national economy.

The Moroccan Capital Market Authority (AMMC) cited enhanced digital platforms, regulatory clarity, and stable macroeconomic conditions as key enablers of this investor momentum.


Conclusion: A Nation Guided by Vision and Precision

Morocco’s recent trajectory is neither accidental nor cyclical. It is the result of deliberate choices — starting with the monarchy’s methodical discourse and extending into every facet of statecraft: diplomacy, development, and financial governance.

As Africa and the wider world navigate increasingly volatile times, Morocco’s model — grounded in reform, clarity, and execution — is setting a new regional benchmark for what measured, modern leadership can achieve.

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Verizon Slashes Jobs in Record-Breaking Layoff — Here’s What We Know

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Verizon Slashes Jobs in Record-Breaking Layoff — Here’s What We Know

Verizon announced a sweeping workforce reduction that will affect “more than” 13,000 employees — roughly 13% of its global headcount — in what CEO Dan Schulman calls the company’s largest-ever layoff. In an internal memo, Schulman says the move is intended to “simplify our operations to address the complexity and friction that slow us down and frustrate our customers.” The company also plans to cut outsourced and outside labor costs significantly. U.S.-based staff will begin receiving notifications today; employees outside the U.S. will be informed in the “coming weeks,” the Wall Street Journal reports

What Verizon says

  • Reason: operational simplification and removing friction that hurts customer experience.
  • Scale: “more than” 13,000 roles, about 13% of the workforce.
  • Outsourcing: a significant reduction in outsourced and outside labor spending is part of the plan.
  • Timing: U.S. notifications begin immediately; international notifications will follow.

Immediate impact

  • Employees: tens of thousands will be affected directly or indirectly. U.S. notifications beginning today means many workers will learn their status immediately.
  • Operations: Verizon says the goal is to reduce complexity and improve service — but short-term disruption to teams and projects is possible as roles are consolidated.
  • Customers: Verizon frames the change as a way to speed decision-making and improve customer experience, though execution risk exists during the transition.
  • Outsourced partners: vendors and contract workers can expect renegotiation or reductions.

What affected employees should do now

  1. Check official communications from HR and your manager for next steps and severance details.
  2. Ask about outplacement support (resume help, job counseling) and whether the company offers extended healthcare, COBRA assistance, or phased transitions.
  3. Document your work (accomplishments, repos, access) and secure personal copies of non-sensitive materials.
  4. File for unemployment as soon as possible where eligible and update LinkedIn and your network.
  5. Use company resources (employee assistance programs, career centers) and local talent services.

What managers and the company should prioritize

  • Clear, compassionate communications and FAQs for affected employees.
  • Fast, transparent explanation of severance, benefits continuation, and outplacement services.
  • Careful workload redistribution and project continuity plans to avoid customer impact.
  • A public-facing message to reassure customers and investors about service continuity and long-term strategy.

Market and strategic context (what this implies)

  • Verizon is attempting aggressive cost reduction while refocusing on product and service quality (e.g., 5G, fixed wireless, enterprise services).
  • Cutting outsourced labor and internal layers can reduce costs but carries execution risk: lost institutional knowledge, lowered morale, and short-term productivity dips.
  • Investors may welcome lower operating expenses; customers and regulators will watch for service degradation.

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🇲🇦 King Mohammed VI’s Speech Sparks Heated Debate in Parliament — “جيل زد يُجيب”

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Rabat — October 2025
Inside Morocco’s Parliament, tension and reflection filled the air just hours after His Majesty King Mohammed VI delivered his opening-session speech. What was meant as a national roadmap quickly turned into a day of open confrontation, emotional testimonies, and unexpected admissions from members of both majority and opposition blocs.


🏛️ A Speech That Touched Nerves

The King’s address, described by analysts as “direct and reform-oriented,” called for greater social justice, job creation, and balanced development across Morocco’s regions.

“No village left forgotten, no coast without a hand,” the King declared — a message that resonated deeply with citizens and lawmakers alike.

Within hours, parliamentary corridors buzzed with interviews, arguments, and introspection. Some MPs hailed the speech as “a moral reset,” while others questioned whether the government was capable of turning royal vision into tangible results.


🧠 From Rabat to the Sahara — Gen Z Responds

Younger members of Parliament — labeled as جيل زد (Gen Z) — became the focus of cameras and public curiosity. Many expressed frustration at what they see as a widening gap between political promises and everyday realities faced by Moroccan youth.

“The King spoke about unity and work. We agree — but the youth need a chance to prove themselves,” said one 28-year-old deputy.
“We have the energy; the system just needs to open its doors.”

Another young MP caused a social-media storm after saying that “in some ways, Moroccan social values are stronger than Germany’s.”
Critics accused him of downplaying Europe’s economic strength, while others applauded his pride in Moroccan family cohesion.
He later clarified his words, emphasizing that every nation faces challenges — and that Morocco’s real wealth lies in its people.


💬 Resignation, Reflection, and Responsibility

Just a week earlier, one deputy had submitted his resignation in protest over what he called “a lack of listening to the new generation.”
After the King’s address, he withdrew it.

“The royal speech gave me renewed hope. This is not the time to quit — it’s time to work,” he told reporters.

Across party lines, both RNI and PAM youth wings echoed similar messages: commitment to reform, but also impatience with bureaucracy.
Several MPs criticized ministers who, they said, “do not answer calls, do not reply to written questions, and have lost touch with citizens.”


⚖️ Opposition Voices: ‘A Government in Denial’

Members of the opposition used the session to accuse the cabinet of denial and poor communication, arguing that ministers are “living in a different reality” from citizens struggling with prices and unemployment.

“The royal messages were clear,” said one opposition leader. “The problem is not the King’s vision — it’s implementation.”


🌍 Morocco’s Path Forward

Analysts note that the King’s address aligned with long-standing themes: national cohesion, balanced territorial development, and respect for dignity in public service.
But the 2025 context — economic pressure, youth disillusionment, and the digital activism of Gen Z — gives these calls new urgency.

“This generation communicates differently,” said a policy researcher. “If institutions don’t adapt, they’ll lose credibility.”


🕊️ A Message Beyond Politics

As the parliamentary session ended, one young MP summed up the mood:

“الملك تكلّم… ونحن سنُجيب بالعمل — The King spoke, and we will answer through action.”

For now, the chamber that often echoes with partisan debates found itself united — briefly — under a single message:
Morocco’s future belongs to its youth, but responsibility belongs to everyone.


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Luxury Carmaker Jaguar Land Rover Shuts IT Systems After Cyberattack

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Luxury Carmaker Jaguar Land Rover Shuts IT Systems After Cyberattack

Jaguar Land Rover has shut down production and retail systems worldwide after a cyberattack “severely disrupted” operations. A hacking group linked to previous attacks on UK retailers has claimed responsibility. While no customer data appears compromised, the incident halted vehicle registrations and manufacturing, raising fresh alarms about the auto industry’s vulnerability to cyber threats

Jaguar Land Rover Hit by Major Cyberattack

Jaguar Land Rover’s global production and retail operations were brought to a standstill this week after a cyberattack “severely disrupted” its IT systems. The company shut down core applications and suspended manufacturing across key UK plants, including Halewood and Solihull, during one of the busiest sales periods of the year.

The UK’s National Crime Agency has opened an investigation, while the company races to restore operations. JLR confirmed that, as of now, there is no evidence that customer data has been compromise

Immediate Disruption to Plants and Dealers

The September 2 cyber incident forced JLR, owned by India’s Tata Motors, to halt assembly lines, send staff home, and suspend dealer systems used to register new vehicles. Dealers reported they could sell in-stock cars but could not process new registrations, delaying deliveries and revenue flows.

A company spokesperson said:

“We took immediate action to mitigate its impact by proactively shutting down our systems. We are now working at pace to restart our global applications in a controlled manner.”

Expert Reactions

Cybersecurity specialists warn the incident highlights the fragility of digitally integrated manufacturing.

Dray Agha, Senior Manager at Huntress, said:

“This incident highlights the critical vulnerability of modern manufacturing, where a single IT system attack can halt a multi-billion-pound physical production line.”

Aiden Sinnott, a researcher at Sophos, compared the attackers’ tactics to those of notorious cyber gangs:

“They speak English and they are keen on using social media channels. Lapsus$ shared similar tactics and demographics as the Scattered Spider collective.”

Technical Analysis

While JLR has not disclosed the specific intrusion method, several indicators suggest ransomware-style tactics:

  • Proactive Shutdowns: JLR’s decision to disable IT and OT (operational technology) systems aligns with standard ransomware containment measures.
  • Interconnected Impact: The attack disrupted not just IT but entire supply chains, underscoring the risks of tightly linked digital production networks.
  • Extortion Motive Likely: Although no ransom demand has been confirmed, past incidents involving JLR and similar industries suggest data exfiltration and extortion are possible.

The incident underscores the importance of segmentation, real-time monitoring, and robust incident response across manufacturing IT and OT systems.

Impact and Response

  • Employees: Factory staff in the UK were sent home as assembly lines stopped.
  • Dealers & Customers: Dealers could not register new vehicles, delaying customer deliveries.
  • Suppliers: Supply chains faced ripple effects, with halted orders and logistics disruptions.

JLR has engaged external cybersecurity teams and is working with government agencies to restore operations in stages. The company must also prepare for regulatory inquiries and possible long-term trust issues with suppliers and consumers.

Broader Context

The cyberattack comes amid a surge in UK corporate cyber incidents. Retailers including Marks & Spencer, Co-op, and Harrods have all suffered breaches in recent months.

For JLR, this is the second major attack in 2025, following a March breach where a ransomware group claimed to have stolen internal data. The company had invested heavily in cybersecurity modernization, including a contract with Tata Consultancy Services—but repeated incidents suggest lingering vulnerabilities.

Conclusion

Jaguar Land Rover’s shutdown highlights the growing risks of interconnected, digital-first manufacturing. In today’s auto industry, downtime no longer means a local setback—it translates directly into lost global revenue and potential long-term reputational harm.

As JLR works to restore its systems, the incident serves as a stark reminder: in modern manufacturing, operational resilience depends as much on cybersecurity as on engineering.

Sources:
Reuters, Britain’s JLR hit by cyber incident that disrupts production, sales;
The Guardian, Hackers linked to M&S breach claim responsibility for Jaguar Land Rover cyber-attack;
Financial Times, Jaguar Land Rover says production ‘severely’ disrupted by cyber incident;
SecurityWeek, Jaguar Land Rover Operations Severely Disrupted by Cyberattack.

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