Macroeconomics

The Egyptian Minister of Planning - (Photo Archive)
23 April 06:07 PM Egypt to raise education spending 10% next year
Cairo - Mubasher: The Egyptian minister of planning said that public investment in education has been increased by 10% in the budget for upcoming fiscal year 2017/2018. Hala El-Said said in a statement on Sunday that the Egyptian government is …
The Egyptian Exchange - (Photo Credit: Arabianeye-Reuters)
23 April 05:19 PM Potential interest rates raising shocks EGX - Experts
Cairo - Mubasher: Analysts are having different opinions regarding the steep decline seen by the indices of the Egyptian Exchange (EGX), as the reasons remain unclear. Experts are wondering about the reasons behind the recent excessive selling by …
The Egyptian Minister of Trade and Industry, Tarek Kabil - (Photo Credit: Arabianeye-Reuters)
23 April 05:17 PM Saudi investments in Egypt more than $6bn - Minister
Cairo - Mubasher: The Egyptian minister of trade and industry said that Saudi Arabia ranks first as the biggest Arab country investing in the Egyptian market, with investments exceeding $6 billion. Tarek Kabil said in a statement on Sunday that …
(Photo Credit: Arabianeye-Reuters)
23 April 03:43 PM IMF pressures Egypt to keep interest rates high – Pharos
Cairo – Mubasher: The International Monetary Fund (IMF) is pressuring Egypt to keep interest rates high in order to curb inflation caused by the local currency’s flotation and subsidy cuts, according to a report issued by Pharos Investments. It is …
(Photo Credit: Arabianeye-Reuters)
23 April 02:34 PM China achieves $24bn trade surplus in March
Mubasher: China’s trade surplus reached $23.92 billion in March, with a slight decrease compared to the preliminary reading of $23.93 billion, according to data released by the General Administration of Customs (GAC) on Sunday. Imports priced in …
Photo Credit: Arabianeye-Reuters
23 April 02:15 PM Boursa Kuwait to close on Isra and Mi'raj holiday
Mubasher: Boursa Kuwait announced that Thursday, 27 April, will be an official holiday on the occasion of Isra and Mi'raj. The stock market will resume working on Sunday, 30 April, according to a bourse statement issued on Sunday. The Central Bank …
(Photo Credit: Arabianeye-Reuters)
23 April 01:35 PM Banks not to intervene in 2M 'Decisive Storm' allowance – SAMA
Riyadh – Mubasher: The Saudi Arabian Monetary Agency (SAMA) stressed the ineligibility of banks to obstruct the latest two-month salary paid as allowance to those deployed in the Decisive Desert Storm and Restoration of Hope military operations. …
(Photo Credit: Arabianeye-Reuters)
23 April 12:37 PM Oman grants credit worth OMR 22.2bn by end-February
Muscat – Mubasher: Conventional and Islamic banks and deposit companies in Oman granted credit facilities worth OMR 22.2 billion, rising 8.1% by the end of February 2017, compared to the same month in 2016, according to Oman News Agency (ONA). …
(Photo Credit: SAMA Website)
23 April 12:23 PM SAMA’s foreign reserves represent 80% of GDP
Riyadh – Mubasher: Foreign reserves at the Saudi Arabian Monetary Authority (SAMA) represent 80% of the Saudi gross domestic product (GDP), according to a statement. The reserves represent a good line of defense to protect the local economy from …
Egypt's minister of investment and international cooperation, Sahar Nasr - (Photo credit: Arabianeye - Reuters)
23 April 12:18 PM EAEF plans to increase investments in Egypt
Cairo – Mubasher: The Egyptian-American Enterprise Fund (EAEF) is looking to raise its investments in Egypt, the fund's chairman James Harmon said. The EAEF is part of the $300 million US financial assistance to Egypt and aims to support …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
23 April 12:12 PM Foreign trade totalled $28bn since flotation - CBE
Cairo - Mubasher: The Assistant Sub Governor of the Central Bank of Egypt (CBE) said that foreign trade since the pound flotation on 3 November 2016 until 10 April 2017 reached around $28 billion. Tarek Fayed added in a statement that this amount …
KSA finance minister, Mohammed Al-Jadaan (Photo Archive)
23 April 11:42 AM KSA Q1 top line beats expectations – Minister
Riyadh – Mubasher: The performance of Saudi Arabia's general budget in the first quarter of the year showed that revenues were better than expected and expenses were lower than the ones approved for the period, finance minister Mohammed …
Photo Credit: Press Release
22 April 11:55 AM GE plans long-term investments in Egypt
Cairo - Mubasher: The vice chairman of General Electric (GE) said that his company is planning a long-term investment strategy in Egypt, stressing the importance of the Egyptian market and the promising opportunities it is offering. According to a …
Photo Credit: Arabianeye-Reuters
22 April 10:07 AM S&P affirms Jordan’s BB-/B; outlook remains negative
Mubasher: Standard and Poor's Global Ratings has affirmed Jordan’s 'BB-/B' rating, with a negative outlook, according to a recent report. The Jordanian government will continue to contain fiscal, external balances in the next three years, assisted …
(Photo Credit: Press Release)
21 April 05:00 PM UAE steel consumption to grow 10% in 2017
Abu Dhabi – Mubasher: Steel consumption in the UAE market is expected to increase by 10% in 2017 as compared to 2016, Al Bayan newspaper reported. The UAE steel plants can cater to the UAE’s current consumption of 3.5 to 3.6 million tonnes of …
(Photo Credit: Company Website)
21 April 04:41 PM Emirates not to withdraw from US market
Dubai – Mubasher: Emirates airline remains committed to the US market despite plans to cut 20% of its flights due to tougher security and visa measures issued by US President Donald Trump, Associated Press (AP) quoted the airline’s President Tim …
(Photo Credit: Arabianeye-Reuters)
21 April 04:27 PM UAE invests $1bn in Russia
Mubasher: The UAE has invested more than $1 billion in a number of projects in Russia in the past few years through the Russian Direct Investment Fund (RDIF), TASS Russian news agency quoted Industry and Trade Minister Denis Manturov as saying. …
(Photo Credit: Arabianeye-Reuters)
21 April 01:14 PM Egypt should carry out other reforms for inflation – IMF
Cairo – Mubasher: Egypt has carried major reforms and its programme has been” very courageous, according to the International Monetary Fund’s (IMF) head Christine Lagarde. The country should continue implementing other reforms, with a special …
(Photo Credit: Arabianeye-Reuters)
21 April 12:17 PM Egypt inks deal for 6 solar plants
Mubasher: Scatec Solar and partners have signed 25-year power purchase agreements with the Egyptian government for delivery of 400 megawatt (MW) electricity from six solar plants, according to a statement. Total investments for the plants are …
(Photo Credit: Press Release)
21 April 11:03 AM Egypt negotiates for 3rd tranche of WB’s loan
Cairo – Mubasher: Sahar Nasr, Egypt’s minister of investment and international cooperation, held discussions with Hafez Ghanem, the World Bank's vice president for the Middle East and North Africa, to begin negotiations over the third tranche …
(Photo Credit: Arabianeye-Reuters)
21 April 10:52 AM Turkey supports investments in Saudi live stock
Riyadh – Mubasher: Turkish government allocated 1.5 million euros worth of investment incentives for the livestock field in Saudi Arabia, according to a statement. The new incentives require total investments of 3 million euros, and a five-year …
(Photo Credit: Arabianeye-Reuters)
20 April 04:55 PM QSE to start market-making activities in H2
Doha – Mubasher: The Qatar Stock Exchange (QSE) and Qatar Financial Markets Authority (QFMA) announced discussing the final steps for market-making activities that are expected to be launched in the second half of 2017. The activities will be …
(Photo Credit: Arabianeye-Reuters)
20 April 03:09 PM Fitch rates KSA sukuk ‘A+’
Riyadh – Mubasher: Fitch Ratings has assigned on Thursday a final rating of “A+” to Saudi Arabia's US dollar-denominated sukuk, with a stable outlook. The rating firm noted that the rating comes in line with the expected rating assigned on 4 April …
(Photo Credit: Press Release)
20 April 12:04 PM 1,741 Egyptian companies founded in March
Cairo – Mubasher: The General Authority for Investment (GAFI) said it approved the establishment of 1,741 companies with combined investments of EGP 3.6 billion during March, according to a report. The companies’ total combined capital amounted to …
(Photo Credit: Arabianeye-Reuters)
20 April 11:52 AM KSA saudises workforce in malls
Riyadh – Mubasher: Saudi Ministry of Labor and Social Development issued a decision to limit working in malls to Saudi citizens. The ministry targets raising the rate of Saudi citizen recruitment in economic sectors through the Nitaqat …