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Macroeconomics

Both parties will organise visits to exchange experiences in the environmental protection field
1 hour ago Sharjah Chamber, Bee'ah ink MoU to promote best environmental practices
UAE - Mubasher: The Sharjah Chamber of Commerce & Industry (SCCI) and Bee’ah, a leading environmental management company in the UAE, have signed a memorandum of understanding (MoU) to foster the best environmental practices in Sharjah. Under the …
Around 52% of the new licences were commercial
17 August 10:28 PM Dubai’s DED issues 14,737 new licences in H1-19
UAE – Mubasher: The Dubai Department of Economic Development’s Business Registration and Licensing (BRL) sector issued a total of 14,737 new licences during the first six months of 2019. Around 52% of the new licences were commercial, while 45% …
Minister of Petroleum Tarek Al-Mulla
17 August 07:06 PM Egypt to lay 950km new gas supply pipelines by 2023
Cairo – Mubasher: The Egyptian government is planning to add 950 kilometres of pipelines to the national gas network by 2023, Minister of Petroleum Tarek Al-Mulla stated on Saturday. A group of projects are under consideration to increase the …
EGP 6bn were allocated to export stimulation programme
17 August 06:36 PM Egypt to invest $663.7m to launch industrial complexes, support exporters
Cairo – Mubasher: The Egyptian government has allocated EGP 11 billion ($663.71 million) to build industrial complexes and bolster exporters, finance minister, Mohamed Maait, said on Saturday, according to a statement. Under the government plan to …
Hotel room inventory rose to 118,345 by the end of June
17 August 05:17 PM Dubai’s hotel occupancy hits 76% in H1-19
UAE – Mubasher: Average occupancy in Dubai’s hotel sector registered 76% during the first six months of 2019. The number of occupied hotel rooms in the emirate went up by 5% to 15.71 million in H1-19, compared the year-ago period, the Emirate News …
Indians topped the emirate’s visitors in terms of volume
17 August 04:45 PM Dubai’s visitors reach 8.36m in H1-19
UAE – Mubasher: Total visitors to the Emirate of Dubai increased by 3% year-on-year to 8.36 million during the first six months of 2019, the Emirates News Agency (WAM) reported on Saturday. Indians topped the emirate’s visitors in terms of volume, …
Saudi ownership of US Treasuries reached $179.6bn in June
16 August 08:47 PM Saudi tops Arab holders of US Treasuries in June
Riyadh- Mubasher: Saudi Arabia investments in the US treasury bonds rose by 9.3% year-on-year during June 2019, increasing its stake of the US treasuries for the fifth month in a row. Saudi Arabia’s holdings of the US treasury bonds grew to $179.6 …
Kuwait’s bank credit increased by 4.8%
16 August 08:04 PM Bank deposits in Kuwait hit $144.6bn in June
Mubasher: Deposits at banks operating in Kuwait rose by 1.2% year-on-year to KWD 44 billion ($144.59 billion) in June, according to a report released on Friday by the Kuwait Finance House (KFH). Kuwait’s bank credit increased by 4.8% to as much as …
Saudi Arabia topped Arabs with $179.6bn holdings
16 August 07:03 PM Kuwaiti ownership of US Treasuries grows in June
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds increased by 7.2% month-on-month in June 2019. Kuwait’s holdings of the US debt instruments went up to $44.4 billion in June 2019 from $41.4 in May. On a yearly basis, …
The UAE ranked 2nd among Arab holders of US Treasuries
16 August 06:43 PM UAE cuts holdings of US Treasuries in June
Abu Dhabi – Mubasher: The UAE has reduced its holdings of the US Treasuries by 3.2% month-on-month to $51.5 billion in June 2019, from $53.2 billion in May, according to the US Department of the Treasury’s recent data. On a yearly basis, the Gulf …
Books and art types exports went up to $7.16m in 6M
16 August 06:21 PM Egypt’s non-oil exports record over $13bn in H1-19
Cairo – Mubasher: Egypt’s non-oil exports reached $13.037 billion during the first six months of 2019, according to a report released by the General Organization for Export and Import Control (GOEIC). The GOEIC have reported growth in five export …
Egypt's Ministry of Finance
16 August 05:46 PM Egypt to cut debt-to-GDP ratio to pre-2011 levels
Cairo – Mubasher: The Egyptian government is planning to reduce the government debt to GDP ratio to reach 77.5% by the end of June 2022, which will decrease the country’s debt service, according to a statement released on Friday by the Ministry of …
Over 3m Indians live in UAE
15 August 10:40 PM UAE-India trade records $60bn in 2018
UAE – Mubasher: The trade exchange between the UAE and India amounted to $60 billion in 2018. The bilateral trade between both Asian countries surged last year, compared to $52 billion a year earlier, according to a statement released on Thursday. …
Total loans recorded SAR 1.45 trillion in Q2-19
15 August 04:34 PM Saudi Arabia’s bank lending grows 3.1% in Q2 – SAMA
Riyadh – Mubasher:  Saudi Arabia’s bank lending levelled up by 3.1% during the second quarter of 2019, supported by the increase in long-term credit facilities by more than SAR 100 billion, according to the Saudi Arabian Monetary Authority’s …
The transaction’s total cost amounted to AED 18 billion
15 August 03:30 PM IBC Group plans to acquire 10,000 premier properties in Dubai
UAE – Mubasher: IBC Group eyes acquiring 10,000 premier properties in Dubai to furnish and manage as holiday homes, according to IBC Group’s recent statement. IBC has contracted Berkshire Hathaway HomeServices Gulf Properties (BHHS Real Estate …
ADNEC's
15 August 03:00 PM ADNEC contributes AED 2.3bn in Abu Dhabi economy in H1
UAE – Mubasher: Abu Dhabi National Exhibitions Company announced that the Abu Dhabi National Exhibition Centre (ADNEC) and Al Ain Convention Centre (AACC), the UAE capital's leading event venues, have contributed AED 2.3 billion to the Abu Dhabi …
Egypt's total external debt rose by 3.4% in May 2019
15 August 01:49 PM Egypt’s external debt hikes to $106bn in Q1-19 – World Bank
Cairo- Mubasher: Egypt’s external debt rose by 20.4% year-on-year to $106.2 billion during the first quarter of 2019 from $88.16 billion, the World Bank announced in a recent report. The country’s external debt recorded $96.6 billion by the end of …
Egypt's unemployment rate declined to 7.5% during Q2-19
15 August 12:45 PM Egypt’s labour force includes 28m individuals in Q2
Cairo – Mubasher: The size of labour force in Egypt inched up by 0.4 to 28.06 million individuals during the second quarter of 2019, from 27.96 million individuals in the previous quarter, according to recent figures released by the Central Agency …
Abu Dhabi’s CPI reached 110.4% in July
15 August 11:29 AM Abu Dhabi’s CPI falls 1.1% in July – SCAD
UAE – Mubasher: The consumer price index (CPI) in the emirate of Abu Dhabi declined by 1.1% during July, according to a report released by the Statistics Centre of Abu Dhabi (SCAD). Abu Dhabi’s CPI reached 110.4% in July, compared to 111.6% in …
The five-year bonds are expected to be issued during September
15 August 09:45 AM Bank of Sharjah plans to issue $500m bonds to repay debt
Abu Dhabi – Mubasher: Bank of Sharjah intends to issue dollar-denominated bonds worth $500 million by the end of 2019 to repay existing debt, Bloomberg reported. The five-year bonds are expected to be issued during September or October. The …
Italy's Eni controls 50% of Zohr
14 August 10:46 PM Gas output at Egypt’s Zohr reaches 11.3bn cubic metres in 6M
Cairo – Mubasher: Natural gas production at Zohr surged to 11.3 billion cubic metres during the first six months of 2019, Russian energy giant Rosneft’s data showed on Wednesday, according to Ahram Online. Daily gas output at Zohr is expected to …
UAE citizens travelling to South Africa can stay for 90 days as of 15 August
14 August 04:43 PM Emirati citizens can travel visa-free to South Africa
UAE – Mubasher: Emiratis holding diplomatic, special, mission and ordinary passports can visit South Africa without pre-entry visas, Emirates News Agency (WAM) reported. The South African Department of Home Affairs noted that the UAE was added to …
Asem El-Gazzar, housing minister
14 August 03:54 PM Egypt’s housing ministry injects EGP 1.2bn in New Aswan
Cairo – Mubasher: Investments pumped into New Aswan City have reached EGP 1.2 billion since 2014, minister of housing and urban utilities, Asem El-Gazzar, stated on Wednesday. A total of 3,120 residential units were completed in the city’s social …
Kuwait Export Crude's OSP was cut
13 August 07:57 PM Kuwait Petroleum reduces crude prices for Asia
Mubasher: Kuwait Petroleum Corp (KPC) has reportedly cut the official selling prices (OSPs) for two crude grades sold to Asia in September, according to Reuters. The price Kuwait Export Crude for September will be declined by $0.4, compared to the …
"We can expect prices to decline further"
13 August 03:45 PM Developers add 20,978 residential units in Dubai – H1/19
UAE – Mubasher: Concerns arise amid investors in Dubai’s real estate market over the increase in the number of offered units ahead of demand, in addition to the decline in prices. However, developers are exerting efforts to ensure the fast …