Stock markets have retreated again over worries of further US interest rate rises after the Federal Reserve defied Donald Trump to increase rates for the fourth time this year.

The EU has confirmed it is “actively investigating” a potential breach of its diplomatic communications network, following reports that secret cables had been stolen by hackers.

The Bank of England has welcomed a “crucial and positive” move by the EU to help keep a key part of the financial system functioning in the event of a “no-deal” Brexit.

A handful of banks will be forced to write multimillion pound cheques to buy shares in the construction giant Kier Group after some of its biggest investors snubbed the chance to take part in a £250m fundraising.

GlaxoSmithKline (GSK) is to merge its consumer healthcare unit with that of rival Pfizer, to create a new market leader with almost £10bn in annual sales.


Santander has been fined more than £30m for “serious failings” in processing the accounts of dead customers, the Financial Conduct Authority (FCA) says.


Morocco to invest $14 billion in boosting renewable energy


The country is set to invest $14 billion in mainly renewable energy projects that were launched by King Mohammed VI to meet national needs and commitment to global efforts to combat climate change and promote clean energy

Moroccan Minister of Energy, Mines, and Sustainable Development Aziz Rabbah confirmed the reports and stated that the projects are already underway with major companies from Asia, Europe, the US, and the Arab world leading in the implementation process.

The Minister said that the King Mohammed’s  renewable energy strategy will be used to enhance security in the energy sector in Morocco and to respond to the increasing demand for energy.

“We have an annual energy demand increase of 2 to 4%, and more than 93% of Morocco’s energy needs are imported, compared to 98% in 2008. Our energy strategy targets increasing use of renewable energy to 52% by 2030, while reducing consumption of conventional energy sources by 15%,” stated Mr. Aziz Rabbah.

The renewable energy projects will also include installation of off-grid solar powers that will extend energy access to 19,438 homes in more than 1,000 villages in Morocco. The project will also create more than 500,000 jobs to both in and neighboring countries. Economic boost will also be seen upon completion of the project as the country set to export extra energy.

The energy minister also recognized the UAE’s support of the Moroccan renewable energy sector. Abu Dhabi’s renewable energy company Masdar “had successfully installed an off-grid solar power project that extends energy access to 19,438 homes in more than 1,000 villages in Morocco.”

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