Morocco: SMAP Expo Milan 2019 Receives 20,000 Visitors

SMAP Logo of 2018
SMAP Logo of 2018
TT

Morocco: SMAP Expo Milan 2019 Receives 20,000 Visitors

SMAP Logo of 2018
SMAP Logo of 2018

Moroccan real estate and lifestyle expo, SMAP Expo Milan 2019, received 20,000 people this year during its showing days between November 1 and 3, where 35 exhibitors showcased their projects on various Moroccan cities.

This year, the event dedicated a special celebration to the Beni Mellal-Khenifra region as a guest of honor.

The program also included seminars and interactive meetings on the legal framework of the real estate in Morocco, market conditions and issues of financing the acquisition of property, taxes and investment opportunities.

The exhibition aims to bring the real estate market closer to the Moroccan community in Italy and neighboring European countries, by showing comprehensive and carefully selected housing projects in various regions of Morocco.

It also includes areas for banks and financial companies specialized in financing real estate and insurance, as well as notaries and representatives of Moroccan public departments to enable visitors to complete their transactions.

The exhibition stems from the association of Moroccan immigrants to their motherland, trying to facilitate the acquisition of a secondary residence in Morocco.

It wants to bring all relevant interests in one place and provide clarity about the Moroccan market including counseling and awareness services, through the discussions organized on the sidelines.

The SMAP Group organized the exhibition, in cooperation with the Ministry of Planning of the National Territory, Urban Planning, Housing and City Policy (MAPNTUPHCP), as well as the Moroccan Federation of Real Estate Developers, as part of the tour of the Moroccan real estate and art of living “SMAP Roadshow 2019”

The expo was first held in Paris in June, and later in May 2020, the French capital will host the exhibition “SMAP Immo Paris” as the first leg of “SMAP Roadshow 2020”.



Oil Prices Edge up as Market Assesses Trump's Tariff Plans

FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
TT

Oil Prices Edge up as Market Assesses Trump's Tariff Plans

FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo
FILE PHOTO: A ship is moored near storage tanks at an oil refinery off the coast of Singapore October 17, 2008. REUTERS/Vivek Prakash/File Photo

Oil prices picked up on Tuesday, after the previous session's sell-off, as the market assessed US President-elect Donald Trump's planned trade tariffs on Mexico and Canada and his aim to increase US crude production.

Oil prices had fallen more than $2 a barrel on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a ceasefire in the Israel-Hezbollah conflict. A senior Israeli official said Israel looks set to approve a US plan for a ceasefire on Tuesday, but some analysts said Monday's sell-off in oil prices had been overdone.

Brent crude futures were up 43 cents, or 0.6%, at $73.44 a barrel as of 1414 GMT. US West Texas Intermediate crude futures were at $69.38 a barrel, up 44 cents, or 0.6%.

Brent crude futures fluctuated between $73.30 and $73.80 a barrel in afternoon trading.

"Today’s intra-day fluctuations are probably more of the function of assessing Trump’s overnight pledge to impose tariffs on Mexico, Canada and China," PVM analyst Tamas Varga said.

On Monday, Trump said he would impose a 25% tariff on all products coming into the US from Mexico and Canada.

The vast majority of Canada's 4 million bpd of crude exports go to the US Analysts have said it is unlikely Trump would impose tariffs on Canadian oil, which cannot be easily replaced since it differs from grades that the US produces.

On Monday, Reuters reported that Trump's team is also preparing an energy package to roll out within days of his taking office that would increase oil drilling.

A senior executive at Exxon Mobil said on Tuesday that US oil and gas producers are unlikely to "radically increase'' production.

OPEC+ MEETING

Market reaction on Monday to the Israel-Lebanon ceasefire news was "over the top" as the broader Middle East conflict has "never actually disrupted supplies significantly to induce war premiums" this year, said senior market analyst Priyanka Sachdeva at Phillip Nova.

Elsewhere, OPEC+ at its next meeting on Sunday may consider leaving its current oil output cuts in place from Jan. 1. The producer group is already postponing hikes amid global demand worries.