Macroeconomics

New app to manage Egypt’s chronic street garbage
12:09 PM New app to manage Egypt’s chronic street garbage
Mubasher: Environ-Adapt has created a new application, Dawar, in collaboration with the Egyptian Ministry of Environment and GIZ Egypt to manage massive garbage in the streets of Egypt. Dawar enables users to report any street garbage to waste …
The Egyptian Minister of Finance, Mohamed Maait
18 October 11:14 PM Egypt’s debt service to surpass EGP 800bn
Cairo - Mubasher: Egyptian public debt installments will exceed EGP 800 billion in fiscal year 2018/2019, according to finance minister Mohamed Maait. The minister told reports on Thursday that interests will amount to EGP 541 billion, with …
The MoU was signed by the DLD Director and DP World Chairman
18 October 05:29 PM RDC, DP World ink MoU at GITEX
Mubasher: The Rental Disputes Center (RDC) signed a memorandum of understanding (MoU) with DP World during GITEX Technology Week. The agreement aims at creating a strong legal environment for companies in the UAE. The MoU was signed by the …
Qatalum will announce the IPO details later in a press conference
18 October 05:28 PM QFMA OKs Qatalum IPO request
Mubasher: Qatar Financial Markets Authority (QFMA) announced that it has approved Qatalum’s (Qatar Aluminium) initial public offering (IPO) application. Qatalum will announce the IPO details later in a press conference, according to QFMA’s recent …
Photo Archive
18 October 04:51 PM Smart Dubai signs 20 smart transformation deals
Dubai - Mubasher: Smart Dubai used its participation in the GITEX Technology Week, which was held at the Dubai World Trade Centre between 14 and 18 October, to exhibit the Emirate’s progress in its smart transformation, through various strategies, …
Low consumption of petroleum materials in the three-month period helped to cut the increase
18 October 04:02 PM Egypt’s fuel subsidy slips to EGP23.25bn in Q1-18/19 - Minister
Cairo – Mubasher: Egypt’s fuel subsidy bill fell slightly to EGP 23.25 billion ($1.3 billion) during the first quarter of fiscal year 2018/2019, the oil minister said. The subsidy bill rose by nearly EGP 1 billion above the FY18/19 budget …
Chairman of IDBE Maged Fahmy
18 October 02:59 PM IDBE injects EFP 150m into EGYCOMEX
By: Islam Fadl Cairo – Mubasher: Industrial Development and Workers Bank of Egypt (IDBE) has pumped EGP 150 million into the Egyptian Commodities Exchange (EGYCOMEX) to nearly 160 clients so far, the lender’s chairman Maged Fahmy said. The bank …
Egyptian imports from the Italian market declined to $2.96 billion in the January-August period of 2018
18 October 02:47 PM Egypt’s exports to Italy exceed $1bn in 8M - Minister
Cairo – Mubasher: Egyptian exports to Italy rose by 3.4% year-on-year during the first eight months of this year, trade minister Amr Nassar said on Thursday. Exports valued at $1.02 billion in the three-month period ended August, versus $986 …
18 October 02:41 PM QP to sell 2 Al Shaheen oil cargos at lower premiums in December
Mubasher: Qatar Petroleum’s (QP) sold two cargoes of Al Shaheen crude oil to be loaded in September at lower premiums, sources familiar with the matter have said. The two cargos contain 500,000 barrels, $1.10 higher than the UAE’s average price, …
Egyptian planning minister Hala El Saeed
18 October 01:28 PM Egypt eyes EGP 764.2bn industrial investments in 5yrs
Cairo – Mubasher: Egypt is looking to invest EGP 746.2 billion into the industrial sector within the framework of the country’s sustainable development plan during the period starting 2018 to 2022. The plan aims to direct investments worth nearly …
The Kuwaiti exports to Japan increased by 30.9% in six months
18 October 01:21 PM Kuwait’s surplus with Japan rises 32% in 6M
Mubasher: The trade surplus of Kuwait with Japan increased by 32% in the six-month period from April to September 2018, according to the latest official data. Kuwait’s trade surplus with Japan enlarged to 307.95 billion Japanese Yen ($2.74 …
Trade surplus between the two countries amounted to $5.99 billion in six months
18 October 01:02 PM Qatar posts $6bn trade surplus with Japan in 6M
Mubasher: Qatar’s trade surplus with Japan surged 41.4% year-on-year during the six-month period between April and September, the first half of the Japanese fiscal year, according to the Japanese Ministry of Finance's (MoF) report on Thursday. …
Al Sayegh holds a Bachelor’s degree in Economics from Lewis and Clark College, the US.
18 October 12:59 PM UAE appoints Ahmed Ali Al Sayegh new Minister of State
Dubai– Mubasher: UAE President Sheikh Khalifa Bin Zayed Al Nahyan issued a decree for appointing Ahmed Ali Mohammed Al Sayegh as Minister of State, state news agency WAM reported on Thursday. Boasting of more than 30 years of experience under his …
The first financing, worth EUR 75 million, aims at supporting inclusive growth in Egypt
18 October 11:56 AM Egypt, EU ink EUR 135m deals
Cairo – Mubasher: Egypt has signed two deals worth a combined EUR 135 million with the European Union (EU) for achieving inclusive growth, creating jobs, and combating immigration in the Arab world's most populous country. The deals have been …
Brent and Nymex crude fell to $80 pb and $70 pb
18 October 11:51 AM Kuwait’s crude oil adds 98 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 98 cents to settle at $78.99 per barrel (pb) on Wednesday compared to $78.01 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
CBE issues EGP 19bn T-bills Thursday
18 October 11:02 AM CBE issues EGP 19bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MOF). The first tranche of T-bills will be offered through 182-day notes at EGP 9.5 …
Oman named world’s safest country
17 October 06:52 PM Oman named world’s safest country
Oman – Mubasher: Oman has been named the safest country in the world, according to the Global Competitiveness Report 2018, released by the World Economic Forum (WEF). Oman’s police service was ranked the best amongst its Arab peers, while the …
The ADFD also funded the Al Bashir Hospital and the King Hussein Cancer Centre in Jordan
17 October 05:37 PM Abu Dhabi Fund pledges AED11bn for education, healthcare
Mubasher: The Abu Dhabi Fund for Development (ADFD) has raised approximately AED 11 billion for development projects in both the education and healthcare sectors, Emirates News Agency (WAM) reported. In cooperation with international financial …
The UAE ranked 27th out of the 140 countries in the latest Global Competitiveness Report
17 October 03:27 PM UAE tops Arab peers in global competitiveness, ranks 27th globally
Abu Dhabi – Mubasher: The UAE ranked 27th out of the 140 countries in the latest Global Competitiveness Report issued by the World Economic Forum (WEF), dropping 10 places from last year’s ranking. The UAE topped the Arab peers in global …
The two schools will have an occupational capacity of 4,040 students
17 October 03:10 PM UAE’s Musanada builds AED 288m schools
Abu Dhabi​ - Mubasher: Abu Dhabi General Services Company (Musanada) has executed the construction works of building two schools at a total value of AED 288 million. Mohammed bin Zayed school in Abu Dhabi and Jebel Hafeet in Al Ain city in the UAE …
EGP mixed against FX currencies Wednesday
17 October 02:41 PM EGP mixed against FX currencies Wednesday
Cairo – Mubasher: The performance of the Egyptian pound was mixed on Wednesday against foreign currencies at national and private banks. Bank Audi offered the highest US dollar rate at EGP 17.88 for buying and EGP 17.96 for selling. Meanwhile, the …
ITIDA, Sutherland Global ink MoU for doubling business in Egypt
17 October 02:29 PM ITIDA, Sutherland Global ink MoU for doubling business in Egypt
Cairo – Mubasher: The Information Technology Industry Development Agency (ITIDA) has signed a memorandum of understanding (MoU) with the pioneer outsourcing firm Sutherland Global Services. The MoU, inked on the sidelines of GITEX Technology Week …
The JV will be responsible for designing, setting up, supplying, operating, and conducting maintenance on a multi-use terminal
17 October 02:11 PM Egypt to build container terminal at Alexandria port
Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouli has issued a licence for both the Alexandria Port Authority and the Suez Canal Authority (SCA) along with the Holding Co for Maritime and Land Transport to set up a joint venture. The JV …
GCC members raise holdings in US T-bills
17 October 01:52 PM GCC members raise holdings in US T-bills
By: Mahmoud Gamal Mubasher: GCC member states have raised their holdings of US treasuries and bonds by a combined 0.9% to $285.574 billion in August from $283 billion in July. Globally, China continued to take the lead on US treasury holdings. …
The megaprojects are expected to enhance the banking sector
17 October 01:44 PM KFH eyes financing mega oil projects in 2019 – CEO
Mubasher: Kuwait Finance House (KFH) is planning to finance megaprojects, mainly in the oil sector, in 2019, the CEO of the bank Mazin Saad Al Nahedh told Al Arabiya. The financial status of the banking sector is going on the right track with a …