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03 June 05:34 PM

Saudi Arabia, Russia near agreement to extend oil output cut

Saudi Arabia and Russia have reportedly agreed on a preliminary deal to extend the current crude oil output curbs for another month.
KPMG - Saudi Arabia
M&A deals in GCC expected to grow amidst COVID-19 – Report
Women currently outnumber men at universities in 15 Arab countries
Women's wealth in Middle East at $786bn with further growth expected
Emirates airline resumed flights to nine cities
Emirates resumes flights to 8 countries
The GCC is forecast to witness an economic recovery
Gulf states GDP expected to contract by 5.9% in 2020
Emirates Airline is set to lay off some employees amid the COVID-19 crisis
Emirates foresees recovery of airline industry by June 2021
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Saudi Arabia, Russia near agreement to extend oil output cut Global Reports
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Borg El-Arab Petroleum and Mineral Company drilled El Salmiya-5 well
Egypt makes new oil discovery in Western Desert Macroeconomics
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Brent futures were up by $1.25 on Tuesday
Kuwait’s crude oil nears $34 pb on Tuesday - KPC Commodities
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Egypt aims to purchase 3.6 million of wheat from local farmers
Egypt buys 120K tonnes of Ukrainian wheat Commodities
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KPMG - Saudi Arabia
M&A deals in GCC expected to grow amidst COVID-19 – Report Sector Reports
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Women currently outnumber men at universities in 15 Arab countries
Women's wealth in Middle East at $786bn with further growth expected Global Economy
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Emirates airline resumed flights to nine cities
Emirates resumes flights to 8 countries Global Economy
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Brent futures closed Monday up by 48 cents
Kuwait’s crude oil jumps $5.63 on Monday - KPC Macroeconomics
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The GCC is forecast to witness an economic recovery
Gulf states GDP expected to contract by 5.9% in 2020 Global Economy
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Emirates Airline is set to lay off some employees amid the COVID-19 crisis
Emirates foresees recovery of airline industry by June 2021 Global Economy
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Saudi oil exports down 10.75% in 2019 Commodities
MWC 2020 cancelled over coronavirus worries Global Reports
Finastra's solutions cover 90% of banks’ needs
Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
Iron prices to further decline as EGP levels up Commodities
Bahrain launched Cloud First Policy in 2017
Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
Pakiza Abdulrahman, Manager of Business Development for Startups at EDB
Pakiza Abdulrahman: We encourage Egyptian startups to set up in Bahrain – Interview Central Banks
Vera Futorjanski during a panel at RiseUp Summit 2019
Vera Futorjanski: Startups must focus on solving local challenges – Interview Global Economy
Credit Agricole is still developing SMEs portfolio and getting some resources
Antoine Paliard talks fintech innovation, startup contests – Interview Event
Mohamed Okasha, Managing Director of Fawry
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ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview Trading Activities
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Islamic Finance
Sharjah has issued AED 4 billion Sukuk
Sharjah pumps AED 4bn liquidity to support banking system Sukuk and Islamic Finance
HSBC was hired as global coordinator for the transaction
Sharjah launches new dollar-dominated Sukuk Macroeconomics
The issuance is part of a Sukuk programme at a maximum value of $2 billion
Warba Bank receives regulatory approval for KWD 150m Sukuk Banking and Finance
The outlook on all ratings was changed to ratings under review
Moody’s downgrades Arabian Centres ratings Ratings
Riyad Bank and MIS signed the finance agreement on 4 May
MIS signs SAR 290m Islamic finance deal Banking and Finance
Dividends will be distributed at SAR 0.0674 per unit
Albilad Sovereign Sukuk ETF announces dividends Sukuk and Islamic Finance
The banks' investments in stocks were lowered to AED 9.1bn in March
UAE banks slash bond, stock investments in March Bonds
Capital Market Authority (CMA)
Mudaraba Fintech application receives experimental permit Markets Regulations
Sukuk trading suspension will begin on 15 June 2020
Riyad Bank to redeem SAR 4bn Sukuk Sukuk and Islamic Finance
The Sukuk is valued at $200 million
AUB Kuwait to pay $5.5m dividends to Ahli United Sukuk Cash Dividends
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Arab Markets
The competition is open for entrepreneurs until 22 June
RiseUp invites Egyptian startups to participate in $1.5m competition Event
The number of electricity subscribers in Aswan amounted to about 540,000
Egypt upgrades electricity distribution networks in Aswan at EGP 500m Macroeconomics
Saudi Arabia, Russia near agreement to extend oil output cut Global Reports
Jahez was founded in 2016
Jahez platform raises SAR 137m in Series A Funding Companies Investments
Deposits denominated in local currency grew by EGP 40.6 billion
Egypt’s local-currency deposits hit a record of EGP 3.1trn in April Macroeconomics
The market cap value gained EGP 3 billion
EGX ends Wednesday in green amid heavy liquidity Trading Activities
Businesses remained severely impacted by COVID-19
Saudi PMI posts 48.1 in May – HIS Markit Macroeconomics
The new metro line will employ Siemens’ SIMATIC substation operating system
Siemens Energy to power Cairo Metro Line 3 extension project Macroeconomics
Saudi Arabia registered 30 deaths
Saudi Arabia confirms 2,171 new COVID-19 cases
The Egypt PMI rose 11 points to 40.7 in May
Egypt’s non-oil private activity sees softer downturn in May Macroeconomics
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International Markets
Global markets may return to fundamentals in 2020 –Emirates NBD
BOE maintains rates at 0.75%, drops limited and gradual tightening
Fear arises as Brexit impact on power sector still unclear
Uber, Hyundai team up to launch future Uber Air Taxis
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