Macroeconomics

Bahrain's government is currently working on a raft of policies to prop up startups
13 December 09:20 PM Bahrain eyes becoming innovative hub for startups in GCC- EDB
By: Mohammad Shokhba Cairo – Mubasher: Bahrain is seeking to be the innovative hub for startups in the GCC region, Mohamed Hejres, senior manager of investors relations and government affairs at the Bahrain Economic Development Board (EDB), said. …
Managing director of Philip Morris Misr and Levant Vassilis Gkatzelis
13 December 04:16 PM Philip Morris injects $4.5bn in smoke-free products development - Interview
By: Abdullah Bedeir  Cairo – Mubasher: Philip Morris International (PMI) has invested over $4.5 billion into research, development, and commercialisation of smoke-free products. PMI is looking to offer smokers reduced risk products instead of …
The ministry aims to exchange expertise in the fields of safety and professional health
13 December 03:33 PM Egypt, US Schlumberger ink 3 MOUs
Cairo – Mubasher: The Egyptian petroleum ministry has signed three memorandums of understanding (MoUs) with the world's largest oilfield services company Schlumberger Limited. Upon the first agreement, the US-based firm will provide several …
The project's investment cost and its timeframe were not disclosed.
13 December 03:25 PM Tonino Lamborghini resident project to add 8,000 homes in Dubai
Dubai – Mubasher: Chinese real estate Oriental Pearls revealed its Tonino Lamborghini Residences Dubai project spanning 4.6 million square metres. The new project will add around 8,000 premium freehold apartments in Meydan, according to the …
Egyptian President Abdel Fattah El-Sisi
13 December 02:56 PM El-Sisi nods to EUR 150m loans from AFDB
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi has approved two loans worth EUR 150 million from the African Development Bank Group (AFDB). El-Sisi also issued the presidential decree number 178 for 2018, approving a $100 million loan …
Egypt's minister of youth and sports Ashraf Sobhi
13 December 12:45 PM Egypt mulls hosting 2019 Africa Cup
Cairo – Mubasher: Egypt is considering bidding for hosting the 2019 Africa Cup of Nations, the youth and sports minister said. This comes following Morocco’ decision of not to run for the Africa Cup, Ashraf Sobhi told MBC Misr channel in a phone …
Brent crude, February futures, added 0.5%
13 December 12:33 PM Kuwait crude oil adds 79 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 1.35% or 79 cents to settle at $58.90 per barrel on Wednesday compared to $58.11 pb in the previous session, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the …
CBE issues EGP 18.75bn T-bills Thursday
13 December 10:39 AM CBE issues EGP 18.75bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.75 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 …
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13 December 12:50 AM CE expects interest hold, inflation ease in Egypt
Cairo - Mubasher: Capital Economics expects inflation to fall further in Egypt over the coming months as the effects of the food price spike continue to unwind and underlying inflation stays weak. The research firm maintains its long-held view …
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12 December 08:19 PM UAE tourism sector at 11% of GDP
Abu Dhabi - Mubasher: Tourism and travel sector in the UAE accounts for 11.3% of the country’s GDP for 2017, which is equivalent to more than AED 154 billion, according to a report from the World Travel and Tourism Council. The share is expected …
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12 December 06:25 PM UAE issues annual economy achievements report
Abu Dhabi - Mubasher: The UAE economy has achieved several developmental milestones in 2018, which have contributed to stimulating its growth, enhancing its competitiveness and ensuring the sustainable development of the economy, according to …
The registered firms are expected to increase to around 1,000 companies by 2022
12 December 05:24 PM QFC’s listed companies reach 590 - CEO
Mubasher: The number of companies registered with the Qatar Financial Centre (QFC) Authority reached 590 firms, representing 50% of the targeted number, CEO and board member of the Doha-based business and financial centre said. The registered …
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11 December 09:58 PM UAE tops region in adoption of AI solutions
Dubai - Mubasher: The United Arab Emirates is leading the region in terms of enterprise adoption of artificial intelligence (AI) applications with an annual growth rate of 33.5%. A report by the Dubai Technology Entrepreneurship Campus (Dtec), …
The number of subscribers slashed by 4.23% year-on-year, or 4.21 million, last August
11 December 02:29 PM Egypt’s telecom firms lose million subscribers in August – Report
By: Abdallah Bedeir Cairo – Mubasher: Egyptian telecom firms’ mobile phone subscribers fell by 1.11% month-on-month, or 1.07 million subscribers, to 95.29 million in August from 96.36 million. Year-on-year, the number of subscribers slashed by …
The six-month Expo 2020 Dubai will be held on 20 October 2020 to 10 April 2021
11 December 02:14 PM Dubai to set up AED 15bn road projects before Expo 2020
Dubai – Mubasher: The emirate of Dubai is implementing road and infrastructure projects worth AED 15 billion ($4 billion) in preparations for the Expo 2020, the director-general and chairman of the Roads and Transport Authority (RTA) said. The …
The retail industry in Kuwait is forecast to grow by 9% in 5 years
11 December 01:21 PM Retail in GCC likely to grow with over $24bn in 5 yrs
Mubasher: The retail industry in the Gulf region is expected to grow with more than $24 billion during the coming five years, according to a recent report by Euromonitor International for market research, Al Jarida Newspaper reported. Euromonitor …
Qatar expanded its presence in Indonesia through pumping investments in telecommunications, energy, retailing, and banks sectors
11 December 12:53 PM Qatar-Indonesia bilateral trade registers $978m in 9M
Mubasher: Trade exchange between Qatar and Indonesia amounted to $977.8 million during the first nine months of this year, the Indonesian ambassador to the GCC nation said. Travellers from the two countries increased, and the gas-rich nation …
Egypt’s electricity sector sees EGP515bn investments in 5 yrs
11 December 12:52 PM Egypt’s electricity sector sees EGP515bn investments in 5 yrs
Cairo – Mubasher: Egypt has invested EGP 515 billion into the electricity sector since 2014, spokesperson of the electricity ministry said. These investments were injected to meet the country’s demand for electricity, Ayman Hamza added told …
The step comes within a bid to promote Dubai as an investment destination
11 December 12:41 PM Emaar Properties launches development operations in China
Dubai – Mubasher: Emaar Properties on Tuesday announced that it has started business development operations in China. The step comes within a bid to promote the emirate of Dubai as an investment destination and boost tourism from Asia’s largest …
January OSP for Kuwait Export Blend Crude (KEC) to Asia fell by 65 cents
11 December 12:37 PM Kuwait cuts January crude selling prices for Asia
Mubasher: Kuwait has cut January official selling prices (OSPs) for its two crude grades for export to Asia, Reuters reported on Tuesday according to two sources with knowledge of the matter. January OSP for Kuwait Export Blend Crude (KEC) to Asia …
The US crude oil was impacted negatively in line with commercial and political tension
11 December 11:57 AM Kuwait crude oil adds $1.24 on Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.24 to settle at $59.58 per barrel (pb) on Monday compared to $58.34 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Bag volumes handled by DXB hiked 4% in October
11 December 10:53 AM Dubai airport passenger traffic rises 2% in October
Dubai — Mubasher: Passenger traffic through Dubai International Airport increased 2.1% year-on-year to around seven million in October.  The world’s busiest international airport received 74.5 million passengers since the beginning of the year, …
Egypt's annual core inflation fell to 7.94% in November
11 December 09:04 AM Egypt's core inflation slumps to 7.94% in November – CBE
Cairo – Mubasher: Egypt’s annual core inflation eased to 7.94% month-on-month in November from 8.86%. The monthly core inflation recorded 0.5% last month, versus 1% in October, the Central Bank of Egypt (CBE) said in a recent statement. It is …
Egypt sells $1.1m USD-denominated T-bills
11 December 08:54 AM Egypt sells $1.1bn USD-denominated T-bills
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced it has sold one-year US dollar-denominated treasury bills (T-bills) worth $1.1 billion on Monday. The bank has sold the T-bills, due on 10 December 2019, at an average yield of 3.747%, …
The CPI inched down 0.7% month-on-month, recording 309.1 points last November
10 December 10:34 AM Egypt’s inflation falls to 15.6% in November – CAPMAS
Cairo – Mubasher: Egypt’s annual inflation declined to 15.6% year-on-year in November from 26.7%. The consumer price index (CPI) inched down 0.7% month-on-month, recording 309.1 points last November, the Central Agency for Public Mobilization and …