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14 July 01:01 PM

MENA's economy expected to contract 5.7% in 2020 - IMF

The International Monetary Fund (IMF) expected that MENA's economy will retreat by 5.7% in 2020, compared to its April outlook of 3.3%.
Analog Devices to acquire chipmaking competitor Maxim for $21bn
Flights to Los Angeles will be resumed from 22 July
Emirates airline reopens flights to six more cities
United States to leave WHO next year
Eurozone expected to see deeper recession than forecast
This is NEOM’s first partnership with leading renewable energy partners
NEOM, ACWA Power, Air Products ink $5bn agreement
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Latest News
Muqassa aims to support the growth of the Saudi capital market
Muqassa to commence operations on 30 August Markets Regulations
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The launch will further develop the Saudi market
Tadawul to launch derivatives market in August Markets Regulations
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The EGP appreciated by 10.8% against the US dollar
Egypt leads emerging market currencies in 3 yrs – Cabinet Currencies
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MENA's economy expected to contract 5.7% in 2020 - IMF Global Reports
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Analog Devices to acquire chipmaking competitor Maxim for $21bn Global Economy
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The USD declined to EGP 15.09 for purchasing at AAIB
EGP rises against USD at local banks on Monday Banking and Finance
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Aramco will decrease the August Arab Heavy crude supplies by about 10%
Aramco slashes August heavy crude supplies to six Asian buyers Macroeconomics
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Domestic consumption of LPG fell by 2.5% YoY in 2019
Saudi Arabia consumes 1.5bn barrels of oil in 2019 Commodities
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Flights to Los Angeles will be resumed from 22 July
Emirates airline reopens flights to six more cities Global Economy
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The decision was made after reviewing Brent prices from April to June
Egypt keeps fuel prices on hold for 3M Macroeconomics
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Mubasher Exclusive
The government pays farmers between EGP 670 and EGP 700 per ardeb
Egypt buys 3.5m tonnes of local wheat since mid-April Commodities
IEA sets $3trn green economic recovery plan Global Reports
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Saudi oil exports down 10.75% in 2019 Macroeconomics
MWC 2020 cancelled over coronavirus worries Global Reports
Finastra's solutions cover 90% of banks’ needs
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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
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Vera Futorjanski during a panel at RiseUp Summit 2019
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Islamic Finance
The issuance will target experienced investors residing in Saudi Arabia
SABB announces 1st local Sukuk issuance Sukuk and Islamic Finance
The offering aims to meet SABB’s financial and strategic needs
SABB sets up local Sukuk programme Banking and Finance
The Sukuk programme is valued at a maximum KWD 2 billion
KIB obtains central bank’s initial approval for Sukuk issuance Banking and Finance
Indonesia is the largest Sukuk issuer on Nasdaq Dubai
Indonesia lists $2.5bn Sukuk on Nasdaq Dubai Sukuk and Islamic Finance
The issuance was a tap on a $1 billion Sukuk
DIB lists $300m Sukuk on Nasdaq Dubai Sukuk and Islamic Finance
The Sukuk is the first ever AAA-rated sustainability Sukuk
IsDB lists $1.5bn Sukuk on Nasdaq Dubai Sukuk and Islamic Finance
DP World is expected to sell perpetual Sukuk at 6.125%
DP World forecast to sell $1.5bn perpetual Sukuk Sukuk and Islamic Finance
The five-year Sukuk has attracted 150 investors
Sharjah Islamic Banks lists $500m Sukuk on Nasdaq Dubai Banking and Finance
The bank has set a margin of return at 240 bps
DIB sells $300m in 2026 Sukuk tap Banking and Finance
The bank has tightened the price guidance for the notes
DIB likely to sell $200m worth of its Sukuk Sukuk and Islamic Finance
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Arab Markets
Prayers will be held at more than 1,000 mosques
Kuwait to lift ban on Friday prayers
The government is looking to build and develop 47 power control centres
Egypt inks EGP 4.6bn deal to build 4 power control centres Macroeconomics
Technology has a positive impact on employee mental and physical health
UAE workers support restrictions on technology for better health Sector Reports
The Chicago properties are spread across nearly 700,000 square feet
Investcorp exits $200m industrial real estate portfolio in US Companies Investments
Holders of ration cards will get a 10% additional discount
Egypt to launch consumption stimulus initiative Macroeconomics
The UAE is the second largest Arab economy
UAE economy to contract by more than 3.5% in 2020 - IMF Macroeconomics
Muqassa aims to support the growth of the Saudi capital market
Muqassa to commence operations on 30 August Companies Investments
The lender’s net interest income increased to EGP 12.47 billion
CIB posts EGP 4.9bn profit in H1-20 Financial Results
The company’s operating revenues slid to EGP 272.17 million
Orascom Investment turns profitable in Q1-20 Financial Results
The reorganisation is expected to be in place by the end of the year
Saudi Aramco to reorganise Downstream business Companies Investments
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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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