Macroeconomics

The deficit in the services balance went up to KWD 1.9 billion
14 August 04:31 PM Kuwait’s current account hits KWD 1.7bn in Q1
Kuwait – Mubasher: Kuwait’s current account surged to KWD 1.7 billion ($5.58 billion) in the first quarter of the fiscal year 2018/2019, its highest level in three years, compared to KWD 1.2 billion in the previous quarter.   The Kuwaiti trade …
The firm is planning to drill an exploratory well in the second half of 2018
14 August 02:10 PM Italy’s Eni gets new exploration license in Egypt
Cairo – Mubasher: The Italian oil and gas company Eni said it has obtained a new offshore exploration license in Egypt. The Rome-based firm is planning to drill an exploratory well in the second half of 2018, Reuters reported. Eni holds an 85% …
Egyptian minister of manpower and immigration Mohamed Saafan
14 August 01:46 PM Egypt announces Eid Al Adha holiday for private sector
Cairo – Mubasher: The Egyptian minister of manpower and immigration on Tuesday announced a three-day holiday for the private sector in celebration of Eid Al Adha. The Eid holiday will start on Monday, 20 August and end Wednesday, 22 August, …
Electric machines and equipment topped the imports to Saudi Arabia
14 August 01:40 PM Saudi imports down 3.2% in June – GaStat
Riyadh – Mubasher: Saudi Arabia announced that its imports decline by 3.2% or SAR 1.12 billion in June 2018 when compared to the same month a year ago, according to the latest data by the Saudi General Authority for Statistics (GaStat). Imports …
The kingdom’s trade surplus grew to SAR 61.34 billion in June
14 August 01:16 PM Saudi trade surplus leaps 161% in June – GASTAT
Riyadh – Mubasher: Saudi Arabia's trade surplus registered a year-on-year increase of 160.7% in June, according to a recent report by the Saudi General Authority for Statistics (GASTAT). The kingdom’s trade surplus grew to SAR 61.34 billion …
Saudi merchandise exports amounted to SAR 95.45 billion in June
14 August 12:28 PM Saudi merchandise exports hit SAR 96bn in June – GASTAT
Riyadh – Mubasher: Saudi Arabia's merchandise exports increased by 62.3% year-on-year, or SAR 36.96 billion, during June, the General Authority for Statistics’ (GASTAT) data revealed on Tuesday. The kingdom’s merchandise exports amounted to SAR …
The MoU aims at establishing a new passenger terminal at King Abdulaziz International Airport
14 August 12:14 PM Jabal Omar, Ground Services extend terminal MoU
Riyadh – Mubasher: Jabal Omar Development Company on Tuesday announced that it has extended a non-binding memorandum of understanding (MoU) with Saudi Ground Services Company (SGS) for one more year until 22 February 2019. The MoU aims at …
Global oil prices declined
14 August 10:16 AM Kuwait’s crude oil adds 62 cents – KPC
Mubasher: The price of Kuwait’s crude oil increased by 62 cents to settle at $70.53 per barrel (pb) on Monday compared to $69.91 pb in the prior session, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, …
Inflation increased to 108.91 points during July
13 August 04:45 PM Qatar’s inflation hikes 0.2% in July – MDPS
Mubasher: Qatar's inflation, based on the consumer price index (CPI), inched up 0.2% year-on-year in July, the Ministry of Development Planning and Statistics (MDPS) said in a report on Monday. Inflation increased to 108.91 points in July from …
Occupancy rates reached 59% in all Qatari hotels
13 August 02:50 PM Qatar hotel occupancy falls 5% in H1 – QTA
Mubasher: Hotels in Qatar have experienced a 5% year-on-year decline in occupancy and average rates during the first half of 2018, according to Qatar Tourism Authority’s report on Monday. Occupancy rates reached 59% in all Qatari hotels with their …
Egypt acquired about 2% of Saudi exports in 2017
13 August 02:45 PM Saudi-Egyptian bilateral trade hits SAR 7.3bn in 2017 – GASTAT
Riyadh – Mubasher: Trade exchange between Saudi Arabia and Egypt amounted to SAR 27.4 billion ($7.3 billion) in 2017, after the kingdom's exports hit SAR 18.9 billion, compared to SAR 13.9 billion in the year before, General Authority for …
South Korea's new Ambassador to Qatar Kim Chang-mo
13 August 12:48 PM Qatar, Korea eye further cooperation – Envoy
Mubasher: South Korea's new Ambassador to Qatar Kim Chang-mo said that there is a huge potential expansion concerning investment cooperation between Qatar and Korea. Chang-mo revealed his country’s interest for further cooperation during his first …
The banking sector topped the QSE’s losers declining 3.59%
13 August 11:54 AM Turkish lira poses threat to QSE’s banking sector
Mubasher: The Qatar Stock Exchange (QSE) has been affected adversely by Turkey's currency crisis. The Qatari bourse ended Sunday’s trading session in negative territory, after the general index fell 251.86 points, or 2.55%, to 9,635 points. The …
Egyptian finance minister Mohamed Maait
13 August 11:53 AM Foreign holdings of Egyptian debt rise on Turkey’s crisis
Cairo – Mubasher: The Turkish crisis has positively impacted foreign investment in Egypt’s debt instruments, sending it up again last week. The turbulence in Turkey and the surrounding markets has given foreign investors the chance to experience …
Chairman of the EGX Mohamed Farid
13 August 11:25 AM EGX mulls restructuring of indices
By: Ahmed Allam Cairo – Mubasher: The Egyptian Exchange’s (EGX) board of director is looking to restructure the main indices of the stock market. Some indices will remain unchanged and others will be removed, while newer ones will be formed, …
Qatari non-oil exports amounted to QAR 11.5 billion in H1-18
12 August 03:45 PM Qatar’s non-oil exports surge 34% in H1-18
Mubasher: Qatar’s non-oil exports jumped 33.7% during the first half of 2018, according to Qatar Chamber’s monthly report on Sunday. Qatari non-oil exports amounted to QAR 11.5 billion ($3.15 billion) in H1-18, compared to QAR 8.6 billion ($2.4 …
Egyptian exports to Tunisia amounted to $176 million, while imports from Tunisia stood at $38 million
12 August 02:08 PM Egypt-Tunisia bilateral trade hits $214n in 6M
Cairo – Mubasher: Trade exchange between Egypt Tunisia rose year-on-year to $214 million in the first six months of 2018. Egyptian exports to Tunisia amounted to $176 million, while imports from Tunisia stood at $38 million, trade minister Amr …
Deals’ number increased 61% month-on-month recording 429 deals in July
12 August 01:47 PM Qatar’s real estate deals register QAR 4bn in July
Mubasher: Qatar's real estate transactions hiked 210% month-on-month during July, according to the Justice Ministry's recent report. The report showed that the number of deals increased 61% month-on-month recording 429 deals in the month before. …
The holiday will start on 19 August
12 August 01:47 PM UAE announces one-week holiday in Eid Al Adha
Abu Dhabi – Mubasher: The UAE Federal Authority for Government Human Resources (FAHR) has announced a week-long Eid Al Adha holiday for ministries, and federal departments in the GCC country. The Eid holiday will start on Sunday, 19 August, and …
The optimistic sentiment was still high
12 August 12:38 PM UAE non-oil private sector hit 3M low; demand surges in July – Report
Dubai - Mubasher: The UAE’s non-oil private sector activity marked a three-month low in July on the back of slower output and work orders, leading to lower business confidence, according to a recent survey sponsored by Emirates NBD and produced by …
The number of authorised property developers by the DLD stood at 844
12 August 10:14 AM Dubai sees 456 undergoing real estate projects
Dubai – Mubasher: Dubai Land Department (DLD) said that the number of under-construction real estate projects in the emirate reached 456 now. These projects are set to be completed in accordance with demand levels in order to expand in the other …
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11 August 11:18 PM UAE to have one-week Eid holiday
Dubai - Mubasher: The United Arab Emirates Cabinet announced on Saturday that the Eid Al-Adha holiday for ministries, and federal departments will begin on Sunday 19 August until Thursday 23 August.  Official work will be resuming on Sunday 26 …
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11 August 09:02 PM Oman’s CPI up 1.4% in July - NCSI
Mubasher: Inflation rate in Oman rose by 1.42% in July 2018 compared to the same month in 2017, according to the latest data released by the National Centre for Statistics and information (NCSI).  The consumer prices’ index (CPI) also increased by …
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11 August 06:59 PM Ajman tourism revenues up 6% in H1
Abu Dhabi – Mubasher: Ajman witnessed an increase in hotel guests by 14% year-on-year in the first half of the 2018.  The emirate’s total revenue from the tourism and hospitality sector went up 6% and amounted to AED 242 million in H1-18 compared …
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9 August 07:07 PM Suez Canal Economic zone nearly-doubles its profits
Cairo - Mubasher: The General Authority for Suez Canal Economic Zone reported a rise in profits by 64% during fiscal year 2017/2018, according to Chairman Mohab Mamish. Profits amounted to EGP 2.13 billion in FY17/18, compared with EGP 1.3 billion …