Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company has obtained insurer financial strength (IFS) rating of ‘BBB+’ from Fitch Ratings. The company also received a national IFS rating of ‘AA-(sau)’ from the agency, according to a …
Riyadh – Mubasher: Saudi Arabia's Local Content and Government Procurement Authority has updated the mandatory list by adding 205 new national products across 11 sectors. The additions include 20 building and construction products, 34 medicines …
Riyadh – Mubasher: Business activity in Saudi Arabia's non-oil private sector remained robust in June 2024 despite signs of softening demand, according to a report by Riyad Bank. The headline seasonally adjusted Purchasing Managers' Index from …
Riyadh – Mubasher: Saudi Arabia's point-of-sale (POS) transactions reached a record of 189.70 million between 23 and 29 June 2024, with a total value of SAR 12.30 billion. Transactions were strongest in food and beverage, healthcare and petrol …
Riyadh – Mubasher: Unemployment in Saudi Arabia (for both citizens and foreigners) inched higher to 3.50% in the first quarter (Q1) of 2024 from 3.40% in Q4-23. Unemployment among Saudis hit 7.60% in Q1-24, down from 7.80% in Q4-23, according to …
Riyadh – Mubasher: The Saudi sukuk and debt instruments market reached 18.30% of GDP by the end of 2023, with 70 sukuk and debt instruments listed on the capital market. The funds raised from sukuk and debt instrument offerings amounted to SAR …
Riyadh – Mubasher: Saudi Arabia has participated in the GCC-US Trade and Investment Dialogue and the SelectUSA Investment Summit in Washington. The events focused on enhancing trade and investment cooperation between GCC countries and the US, …
Riyadh – Mubasher: Saudi Arabia has awarded contracts for mining exploration for and precious metal ores, including gold, silver, zinc, and copper in six sites across the kingdom covering a total area of 1000 square kilometres. The awarded …
Mubasher: The asset management industry in the GCC has significantly improved due to positive regulatory reforms and government support, according to a report by Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre (MARKAZ). Over the …
Riyadh – Mubasher: The Madinah Municipality has offered an investment opportunity to build and operate a rural lodge, aiming to boost the local economy. Located on a 12,277 square meter plot along Al Aqiq Valley Corniche, the 25-year contract …
Dubai – Mubasher: The listed Commercial Bank of Dubai (CBD) has teamed up with Emirates Development Bank (EDB) through a strategic partnership to enhance and facilitate international trade services, according to a press release. The collaboration …
Mubasher: The 2024 World Competitiveness Report included six countries from the Arab region which all showed progress in this year’s ranking, according to the International Institute for Management Development (IMD) data. The UAE led the Arab …
Mubasher: The total number of deals registered in the global travel and tourism sector decreased by 10.90% to 286 during the first five months (5M) of 2024 when compared with 321 in January-May 2023, according to GlobalData Deals Database. The …
UAE – Mubasher: The third edition of Abu Dhabi Finance Week (ADFW) will take place on 9-12 December 2024 under the theme Welcome to the Capital of Capital, being the flagship financial event of the Middle East, Africa, and Southern Asia (MEASA). …
Mubasher: Switzerland-based NUOS AG is expected to establish a headquarters (HQ) in Abu Dhabi as a regional hub, which will boost the emirate's strategic location and resources for more growth in Europe, North America, and the MENA market. NUOS …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
Riyadh – Mubasher: Saudi Arabia’s real GDP declined by 1.70% year-on-year (YoY) in the first quarter (Q1) of 2024. Quarter-on-quarter (QoQ), the seasonally adjusted real GDP grew by 1.40% in Q1-24, according to estimates by the General Authority …
Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …
Riyadh – Mubasher: Saudi Arabia and Ethiopia signed an agreement to form a joint Saudi-Ethiopian Business Council, advancing economic cooperation. The agreement establishes a foundation for businesses in the two nations to collaborate and better …
Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has announced the pricing of its inaugural GBP 650 million sterling-denominated bond under its Euro medium-term note programme. The issuance is oversubscribed by more than 600%, …
UAE – Mubasher: The UAE climbed from 13th to 6th globally for international tourism receipts in 2023 after logging $51.90 billion. Leading the rankings were the US at $176 billion, followed by Spain, the UK, France, and Italy, according to the UN …
Riyadh – Mubasher: A Saudi investor alliance signed a deal in Djibouti to develop the Saudi Logistics City free zone project at Djibouti Port, the largest such contract abroad. The initial phase covers 120,000 square meters with the 92-year …
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia withered a decline from 57 last April to 56.4 in May 2024, according to Riyad Bank’s latest data. The reading, which was the second-lowest for 22 …
UAE – Mubasher: Kamil Al Awadhi, Regional Vice President for Africa and the Middle East at the International Air Transport Association (IATA), stated that passenger traffic in the UAE and the GCC is projected to grow by 4% annually between 2024 …
