Tawasul
Mubasher TV
Contact Us Advertising   العربية

Local Economy

The kingdom’s trade exchange with the four GCC states was SAR 98.1 billion ($26.15 billion) in 2020.
01:38 PM Saudi trade exchange with 4 Gulf countries falls 6.1% in 2020
Riyadh – Mubasher: Saudi Arabia’s trade exchange with the UAE, Bahrain, Kuwait, and Oman slid by 6.06% in 2020 when compared to a year earlier. The kingdom’s trade exchange with the four GCC states was SAR 98.1 billion ($26.15 billion) in 2020, …
The GCC insurers could face key risks relating to volatility of earnings
12:51 PM S&P Global ratings on GCC insurance market expected to remain stable in 2021
Mubasher: S&P Global predicted its ratings on the GCC insurance market to remain stable in 2021, attributed to strong capital buffers, despite the coronavirus (COVID-19) economic repercussions and uncertainty. A relatively large number of the GCC …
The Middle East and Africa witnessed the highest level in percentage terms
18 February 01:35 PM Middle East insurance M&A defies COVID-19-driven dip in 2020; expected to surge in 2021
Mubasher: The insurance sector across the world has registered 407 completed merger and acquisition (M&A) deals in 2020, lower than 419 in 2019. This record was mentioned by finding opportunity in adversity, the latest edition of global law firm …
Saudi Arabia was the top GCC buyer of US Treasury bonds with $134.4 billion in December 2020.
17 February 02:34 PM GCC holdings of US Treasuries fall 16.5% in December
Mubasher: Investments of the GCC states in US Treasury bills and bonds decreased by 16.5% or $45.9 billion year-on-year (YoY) during December 2020. Total investments of Gulf countries in US Treasury bills and bonds amounted to $231.414 billion in …
The kingdom’s decision will apply only to contracts offered by the government.
16 February 12:16 PM KSA to cease contracting with foreign firms without regional HQ from 2024
Riyadh – Mubasher: Saudi Arabia will no longer sign contracts with foreign companies that do not have a regional headquarters in the kingdom after 2023, Reuters reported citing the Saudi Press Agency (SPA). The policy, which comes into effect on 1 …
Photo Archive
15 February 02:53 PM Remittances from Filipinos in GCC down to $5.1bn in 2020
Riyadh – Mubasher: Remittances paid by Filipino labour in GCC countries dropped by 11.21% on an annual basis in 2020. Filipinos’ remittances from the Gulf region registered $5.11 billion last year, compared to $5.76 billion in 2019, according to …
The USD slid to EGP 15.74 at the end of 2020
15 February 01:51 PM EGP among world’s top performing currencies in four years
Cairo – Mubasher: The Egyptian pound was among the top performing currencies worldwide against the US dollar over the last four years, the cabinet’s media centre said on Monday. The EGP exchange rate improved gradually since the beginning of the …
Photo Archive
10 February 03:13 PM KSA, Oman most exposed to diminishing fiscal uplift from SWF buffers - Moody's
Riyadh - Mubasher: The impact of the coronavirus pandemic on oil demand and prices has significantly increased gross funding requirements for sovereigns across the GCC, which will be partly funded by drawing down sovereign wealth fund (SWF) …
Egyptian women feature the most with eight entries, followed by Emirati women with seven entries.
4 February 12:04 PM Forbes Middle East unveils Mideast’s Power Businesswomen 2021
Dubai – Mubasher: Forbes Middle East’s annual "Power Businesswomen" ranking celebrates 50 fearless regional female leaders and highlights the powerhouses who have shown resilience, flexibility, and strength in the face of unprecedented adversity. …
The total number of primary issuances during last year totalled 360.
3 February 02:28 PM Bonds, Sukuk primary issuances in GCC see value rising to $132.7bn in 2020
Mubasher: Primary debt issuances in the GCC region set a new record for the total value of issuances raised in one year, despite the double blow of the Covid-19 outbreak and the subsequent decline in oil prices, according to Kuwait Financial …
Regional debt issuances are expected to remain robust in 2021.
28 January 12:09 PM GCC debt issuance exceeds $100bn in 2020
Mubasher: GCC debt issuance was strong in 2020, crossing $100 billion on a continued need for budget financing, the National Bank of Kuwait (NBK) said in its latest economic update. The fourth quarter (Q4) of 2020 saw the issuance of about $15 …
During the MoU signing ceremony today
26 January 04:22 PM DirectFN to bring latest fintech-style technology across Uzbekistan
Riyadh – Mubasher: Uzbekistan’s Capital Markets Development Agency (CMDA) and DirectFN Ltd. penned a memorandum of understanding (MoU) to start a meaningful dialogue and cooperate on the possibility of launching the most-advanced fintech-style …
KSA will showcase 1,000 projects worth $160 billion at the third Future Projects Forum (FPF).
26 January 03:09 PM Saudi Arabia could be Mideast’s busiest construction market next decade
Riyadh – Mubasher: Saudi Arabia will be the Middle East’s busiest construction market over the course of the next decade as its new wave of major projects makes progress, according to GlobalData’s MEED. The Gulf state will showcase about 1,000 …
The supercomputer is named after the first oil well discovered in Saudi Arabia.
19 January 01:26 PM Saudi Aramco, STC launch Dammam 7 supercomputer
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and the Saudi Telecom Company (stc) on Tuesday announced launching “Dammam 7”, a new supercomputer and one of the world’s 10 most powerful computers. The supercomputer, which is named …
Photo Archive
17 January 01:43 PM Emirates’ trade surplus with GCC hits AED 3bn in 9M
Dubai – Mubasher: The UAE’s trade surplus with GCC countries amounted to AED 3 billion ($817 million) during the first nine months of 2020. The achieved surplus excludes AED 35.601 billion worth of non-oil exports and AED 32.61 billion worth of …
The oil price is predicted to stabilise at around $50 per barrel
12 January 04:02 PM Global Sukuk issuance expected to rise to $140-$155bn in 2021
Mubasher: Global Sukuk issuance is expected to rise to around $140-$155 billion in 2021, driven by a recovery in issuance in Malaysia, Indonesia, and the GCC countries, according to a report by S&P Global Ratings. In 2020, the global Sukuk …
The UAE’s Minister of State for Foreign Affairs, Anwar Gargash
7 January 01:44 PM UAE says trade, transport may resume with Qatar within week
Abu Dhabi – Mubasher: Trade and transportation could resume between Qatar and boycotting countries within a week, Reuters reported on Thursday citing the UAE’s Minister of State for Foreign Affairs, Anwar Gargash. “Some issues are easier to fix …
Qatar’s foreign reserves continued to rise for the 34th successive month in December 2020.
7 January 01:03 PM Standard Chartered expects Qatar’s economy to grow 3% this year
Doha – Mubasher: Standard Chartered expected Qatar’s economy to grow by 3% this year as the easing of a three-year-old regional dispute will help trade, tourism, and logistics, Reuters reported. The British lender had revised its previous 2.1% …
The greenback slid to EGP 15.63 for purchasing
6 January 05:51 PM EGP continues to advance against USD on rising foreign reserves
Cairo – Mubasher: The US dollar exchange rate dropped against the Egyptian pound by EGP 0.04 in the first week of 2021 as foreign reserves rose to more than $40 billion. According to data by the Central Bank of Egypt (CBE), the average exchange …
Saudi Arabia's Crown Prince Mohammed bin Salman signing the agreements.
5 January 04:44 PM Gulf leaders sign 41st GCC summit closing statement, Al ULA agreement
Riyadh – Mubasher: Gulf leaders on Tuesday have inked the closing statement of the 41st GCC summit and Al ULA agreement. The annual GCC summit kicked off today at Maraya Concert Hall in Saudi Arabia’s Al ULA city, with the presence of all member …
Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the annual summit.
5 January 03:17 PM 41st GCC summit kicks off in Saudi Al ULA city
Riyadh – Mubasher: The 41st GCC summit has kicked off on Tuesday in Saudi Arabia’s Al ULA city. Earlier today, Gulf Arab leaders headed to Saudi Arabia to attend the summit. Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the …
KSA achieved a trade surplus with Gulf nations of SAR 19 billion ($5.07 billion) in the January-October period.
5 January 02:05 PM Saudi, GCC trade exchange reaches SAR 97.9bn in 10M
Riyadh – Mubasher: Saudi Arabia’s trade exchange with GCC states plunged by 18.7% on an annual basis during the first ten months of 2020, pressured by the coronavirus pandemic.  The exchange value stood at SAR 97.89 billion ($26.1 billion) over …
Kuwait's Emir heading to KSA for the GCC summit earlier today.
5 January 11:42 AM Gulf leaders head to 41st GCC summit in KSA
Mubasher: Kuwait’s Emir, Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, headed to Saudi Arabia on Tuesday to attend the 41st GCC summit, which will be hosted in Al ULA city.  On Monday, Qatar said that its Emir, Sheikh Tamim bin Hamad al-Thani, will …
Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah
5 January 10:42 AM KSA reopens airspace, land border to Qatar
Riyadh – Mubasher: Saudi Arabia has reopened its airspace and land and sea border to Qatar as of Monday, 4 January, Reuters said citing Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah. “An agreement has been reached to open airspace and land and …
The GCC governments have issued $47.5 billion bonds
30 December 2020 03:19 PM GCC records $142bn bond, Sukuk issuances in 11M
Mubasher: The total value of issuances in the GCC region reached about $142 billion year-to-date (YTD)-November-2020, almost in line with last year's levels. The full-year 2020 issuances are forecast to marginally exceed last year's …