Local Economy

Cairo – Mubasher: Egypt's merchandise exports rose by 5.3% year-on-year (YoY) to $9.61 billion in the first quarter (Q1) of 2024 from $9.12 billion in the same quarter of 2023. Leading destinations for Egyptian exports included Turkey ($874 …

UAE – Mubasher: Dubai International (DXB) has topped the 2023 list of top 10 busiest airports worldwide. The latest achievement marks DXB’s tenth year of leading the list, which is put by the Airports Council International (ACI), according to a …

Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bonds (T-bonds) at a value of EGP 500 million on Tuesday, 16 April 2024, through one tranche. The offering holds a tenor of five years until 16 April 2029, according to official …

Cairo – Mubasher: Egypt has raised 24.90% in the allocation of the healthcare sector to EGP 495.60 billion in the budget for the fiscal year (FY) 2025/2026 from EGP 396.90 billion in FY 2024/2025, said Minister of Finance Mohamed Maait. The …

Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 55 billion on Monday, 15 April 2024, through two auctions. The first tranche stood at EGP 30 billion and will mature in 182 days on 15 …

Mubasher: The Saudi crude oil production surged by 20,000 barrels per day (bpd) to hit 9.03 million bpd in March 2024 compared with 9.01 million bpd in February, according to the latest OPEC report. The average crude oil production by Saudi Arabia …

Cairo – Mubasher: Egypt registered a 6.10% increase in tourism revenues to $7.80 billion in the first six months (6M) of the fiscal year (FY) 2023/2024. The recorded amount is compared to$7.30 billion a year earlier, according to official data. …

Cairo – Mubasher: Egypt's overall balance of payments (BOP) deficit reached $409.60 million in the first half (H1) of fiscal year (FY) 2023/2024, registering a surplus of $599.10 million in the same period the previous year. The current account …

Cairo - Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bonds (T-bonds) at a value of EGP 4 billion through one issue on Monday, 8 April 2024. The offering will mature in three years on 9 April 2027, according to official data. …

Cairo – Mubasher: The National Council of Wages (NCW) in Egypt has approved raising the minimum wage for private sector workers by 71.43% to EGP 6,000 from EGP 3,500. The new minimum wage includes all wage elements, including the employer's share …

Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through two tranches on Sunday, 7 April 2024. The first tranche stood at EGP 30 billion and will mature in 91 days on 9 July this …

Cairo – Mubasher: Egypt’s trade deficit dropped 37.20% year-on-year (YoY) to $2.08 billion in January 2024 from $3.32 billion in the same month of last year. The decline in the trade deficit was the result of a 25.30% YoY plunge in imports to …

Cairo – Mubasher: Egyptian Natural Gas Holding Company, a state-owned company, has bought at least one shipment of liquified natural gas (LNG) for delivery in May, according to Bloomberg. The company is considering importing more in the coming …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 50 billion through two tranches on Thursday, 4 April 2024. The first tranche stood at EGP 30 billion and will mature in 182 days on 8 …

Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) surged by $5 billion to $40.36 billion at the end of March 2024. Reserves amounted to $35.31 billion in February, according to the CBE’s data. Egypt’s NIR …

Cairo – Mubasher: Business conditions in the Egyptian non-oil private sector showed a softer deterioration in March, as inflation of production inputs mitigated, putting some hurdle on product prices. Demand in the market fell as the devaluation …

Cairo – Mubasher: Egypt’s foreign asset deficit declined around 24.23% month-on-month (MoM) to EGP 678.98 billion ($14.38 billion) in February 2024 from EGP 896.12 billion ($18.98 billion) in January. Total foreign assets in the Egyptian banking …

Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at an aggregated value of EGP 3.50 billion through two auctions on Monday, 1 April 2024. The first issue was valued at EGP 3 billion and will mature in three years …

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 70 billion through two tranches on Sunday, 31 March 2024. The first issue was valued at EGP 40 billion, holding a tenor of 91 days …

UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through auctions on Thursday, 28 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …

Cairo – Mubasher: Egypt's total foreign exchange receipts declined by 24% year-on-year (YoY) to $121.90 billion during the fiscal year (FY) 2022/2023 from $160.50 billion in FY 2021/2022. Total foreign exchange payments plunged by 27.10% YoY to …