Macroeconomics

Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …

Cairo – Mubasher: The value of Egypt's agricultural exports increased by $600 million year-on-year (YoY) to around $2.69 billion in the first half (H1) of 2024. The volume of agricultural exports rose to over 4.90 million tonnes in H1-24, up …

UAE – Mubasher: Dubai Chambers has entered into a Memorandum of Understanding (MoU) with VFS Global, visa outsourcing and technology service provider for governments and their diplomatic missions, to boost trade and investment growth for …

Cairo – Mubasher: The Egyptian Cabinet has granted preliminary approval for five oil and gas agreements with the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and a group of local and international …

Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …

Cairo – Mubasher: Egypt’s total trade deficit surged by 22.29% year-on-year (YoY) to $28.80 billion during the first nine months (9M) of fiscal year (FY) 2023/2024 from $23.55 billion. Total exports dropped to more than $24.11 billion in 9M-23/24 …

Cairo – Mubasher: Egypt recorded a staggering increase of around 200% year-on-year (YoY) in net inflows of foreign direct investments (FDI) to $23.70 billion during the first nine months (9M) of the fiscal year (FY) 2023/2024, against $7.90 …

UAE – Mubasher: The number of economic licences in Ajman rose by 15% year-on-year (YoY) to 37,755 during the first half (H1) of 2024. In H1-24, 3,000 new licences were issued, up 5% YoY, according to a report by the Department of Economic …

Cairo – Mubasher: Suez Canal’s transit receipts declined by 7.40% year-on-year (YoY) to $5.80 billion during the first nine months (9M) of the fiscal year (FY) 2023/2024, versus $6.20 billion. The net tonnage shrank by 15.60% to 944.9 million …

Mubasher: Saudi Arabia and the UAE accounted for 82% of the GCC countries' total oil exports to Japan in May 2024, with their exports totalling about 53.69 million barrels. The GCC countries exported about 61.85 million barrels of crude oil to …

UAE – Mubasher: DHG Properties, a leading real estate development company operating within DHG Holding, noted that price growth in Dubai’s residential market accelerated with a notable increase from 20.30% in February 2024 to 20.70% last March. …

Riyadh – Mubasher: Saudi Arabia held the third position in 5G Download Speed among key markets in the EMEA region, according to a report released by Opensignal. The report highlighted that the Kingdom witnessed a significant improvement in 5G …

Riyadh – Mubasher: The Saudi Arabian capital, Riyadh, has ranked among the world’s top 15 fastest-growing cities by 2033 based on economy, population, and wealth in the Savills Growth Hubs Index. Riyadh’s population is anticipated to grow by 26% …

Cairo – Mubasher: The net international reserves (NIR) at the Central Bank of Egypt (CBE) reached a new high of $46.38 billion at the end of June 2024. Reserves increased by $258.40 million from $46.12 billion in May, according to CBE’s …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bonds (T-bonds) at a total value of EGP 8.25 billion over three tranches on Monday, 8 July. The first auction was valued at EGP 3 billion, holding a tenor of two years until 2 July …

UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) partnered with the Abu Dhabi Investment Office (ADIO) to organise the third edition of Al Multaqa quarterly meetings. The gathering provided the business community with …

Cairo – Mubasher: The Egyptian Exchange (EGX) announced Thursday, 11 July 2024 as an official holiday in celebration of the Islamic New Year. The EGX will resume work on Sunday, 14 July.

Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a combined value of EGP 65 billion through two offerings on Sunday, 7 July. The first auction was valued at EGP 40 billion and will mature in 91 days on 8 …

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 …

UAE – Mubasher: Around 22.40 million travellers passed through Abu Dhabi's airports in 2023, including 11.10 million arriving and 11.30 million departing. The Indian subcontinent topped origins with about 3.20 million travellers, followed by …

Cairo – Mubasher: Sales volumes at Egyptian non-oil companies increased for the first time in nearly 34 months in June 2024, ending declines since August 2021. The uplift followed signs of stabilising economic conditions as policy supported easing …

UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) declined to 54.6 in June 2024 from 55.3 registered during May, according to the latest S&P Global PMI data. Non-oil private sector continued to retreat at the mid-point …

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 …