Morocco to Double Airport Capacity by 2030

Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
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Morocco to Double Airport Capacity by 2030

Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)
Morocco's Prime Minister Aziz Akhannouch speaks during the High Level Segment session of the One Ocean Summit (OOS) in Brest, France February 11, 2022. (Reuters)

Morocco plans to expand its airport capacity to 80 million passengers by 2030 from 38 million currently, Prime Minister Aziz Akhannouch said.

The plan is part of Morocco's preparations to co-host the 2030 FIFA World Cup, together with Spain and Portugal, and promote tourism, Akhannouch told members of parliament.

Casablanca's airport capacity will be expanded to 23.3 million passengers, while tourist hubs Marrakech and Agadir will have a capacity of 14 million passengers and 6.3 million respectively by 2030, he said.

Morocco received a record 15.9 million tourists in the first 11 months of this year, surpassing the total in the entire previous year thanks to more air routes, according to tourism ministry figures.

Morocco is also working to extend its high-speed train network to Marrakech before the World Cup, and further south to Agadir.

The rail operator also aims to expand its network to double the number of cities it serves to 43, or 87% of the Moroccan population, by 2040.

The prime minister also mentioned the expansion and renovation of 45 stadiums and training sites in the six cities that are planned to host the World Cup, in addition to the construction of a new stadium with 115,000 seats near Casablanca.

Investments in stadium construction and expansion would cost Morocco up to 5 billion dirhams ($500 million), the government has said.

Morocco is also hosting the Africa Cup of Nations soccer tournament in 2025.



Oil Falls from Highest since October as Dollar Strengthens

People stand on the the pier with offshore oil and gas platform Esther in the distance on January 5, 2025 in Seal Beach, California. Mario Tama/Getty Images/AFP
People stand on the the pier with offshore oil and gas platform Esther in the distance on January 5, 2025 in Seal Beach, California. Mario Tama/Getty Images/AFP
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Oil Falls from Highest since October as Dollar Strengthens

People stand on the the pier with offshore oil and gas platform Esther in the distance on January 5, 2025 in Seal Beach, California. Mario Tama/Getty Images/AFP
People stand on the the pier with offshore oil and gas platform Esther in the distance on January 5, 2025 in Seal Beach, California. Mario Tama/Getty Images/AFP

Oil prices dipped on Monday amid a strong US dollar ahead of key economic data by the US Federal Reserve and US payrolls later in the week.
Brent crude futures slid 28 cents, or 0.4%, to $76.23 a barrel by 0800 GMT after settling on Friday at its highest since Oct. 14.
US West Texas Intermediate crude was down 27 cents, or 0.4%, at $73.69 a barrel after closing on Friday at its highest since Oct. 11, Reuters reported.
Oil posted five-session gains previously with hopes of rising demand following colder weather in the Northern Hemisphere and more fiscal stimulus by China to revitalize its faltering economy.
However, the strength of the dollar is on investor's radar, Priyanka Sachdeva, a senior market analyst at Phillip Nova, wrote in a report on Monday.
The dollar stayed close to a two-year peak on Monday. A stronger dollar makes it more expensive to buy the greenback-priced commodity.
Investors are also awaiting economic news for more clues on the Federal Reserve's rate outlook and energy consumption.
Minutes of the Fed's last meeting are due on Wednesday and the December payrolls report will come on Friday.
There are some future concerns about Iranian and Russian oil shipments as the potential for stronger sanctions on both producers looms.
The Biden administration plans to impose more sanctions on Russia over its war on Ukraine, taking aim at its oil revenues with action against tankers carrying Russian crude, two sources with knowledge of the matter said on Sunday.
Goldman Sachs expects Iran's production and exports to fall by the second quarter as a result of expected policy changes and tighter sanctions from the administration of incoming US President Donald Trump.
Output at the OPEC producer could drop by 300,000 barrels per day to 3.25 million bpd by second quarter, they said.
The US oil rig count, an indicator of future output, fell by one to 482 last week, a weekly report from energy services firm Baker Hughes showed on Friday.
Still, the global oil market is clouded by a supply surplus this year as a rise in non-OPEC supplies is projected by analysts to largely offset global demand increase, also with the possibility of more production in the US under Trump.