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Macroeconomics

The delivery is expected to take place between 1 and 25 October
9 August 06:04 PM Egypt buys 64,500 tonnes of local vegetable oils
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) decided to purchase 64,500 tonnes of soybean oil from seven local companies. The delivery is expected to take place between 1 and 25 October, the state-run authority …
Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
The issuance will be used to finance the country’s budget deficit.
9 August 05:33 PM CBE sells more T-bills than target; yield rises to 6M high
Cairo – Mubasher: The Central Bank of Egypt (CBE) sold EGP 29.17 billion worth of treasury bills (T-bills) in two auctions on Sunday, which is EGP 10.17 billion more than it had offered.  The CBE sold EGP 19.15 billion worth of 91-day T-bills and …
Qalyubia has about 1.2 million electricity subscribers
9 August 04:15 PM Egypt invests EGP 470m in upgrading Qalyubia's electricity network
Cairo – Mubasher: The Egyptian Ministry of Electricity and Renewable Energy has invested EGP 470 million in raising the efficiency of the electricity network in Qalyubia in fiscal year 2019/2020. Medium-voltage overhead power lines reached …
The UAE has attracted international brands - (Photo Archive)
9 August 03:34 PM UAE attracts 1,047 trademarks in July
UAE - Mubasher: The UAE has registered 1,047 trademarks during July 2020, reflecting the sector's continuous growth and the country's leading position as a regional business centre, according to the Emirates News Agency (WAM). Last month, the UAE …
The current cooperation portfolio between EIB and Egypt has reached EUR 4.8 billion
9 August 02:37 PM Egypt explores activating EUR 1.13bn deal with EIB
Cairo – Mubasher: The Egyptian minister of international cooperation Rania Al-Mashat explored the means for activating a EUR 1.13 billion funding agreement previously approved for the National Authority for Tunnels with senior officials of the …
Central Bank of Kuwait
9 August 01:43 PM Kuwait’s foreign reserves up 21% in June
Mubasher: Kuwait’s foreign reserves increased by 20.99% during June, maintaining an upward trend for the third consecutive month, according to the monthly bulletin data by the Central Bank of Kuwait (CBK). The reserve assets amounted to KWD 13.92 …
Egypt paid EGP 207.657 million to workers in 3,195 tourism businesses
9 August 11:30 AM Egypt pays EGP 347m to regular workers hit by COVID-19
Cairo – Mubasher: Egypt has disbursed EGP 346.806 million to support workers hit by the coronavirus (COVID-19) pandemic, including those working in tourism as well as spinning and weaving sectors, the country’s manpower minister, Mohamed Saafan, …
The issuance will be used to finance the country’s budget deficit
9 August 10:42 AM CBE offers EGP 19bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 19 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 8.5 billion and will be offered through …
Economic rebound is driven by lower oil production cuts and Dubai Expo
9 August 10:11 AM UAE's economy to recover by 4.1% in 2021 - Fitch Solutions
UAE - Mubasher: The UAE is projected to witness a robust economic recovery with a growth rate of 4.1% in 2021, according to a report by Fitch Solutions. The report, titled "Recovery In Global Growth To Be Bumpy And Divergent," revealed that the …
The two ministers discussed the possible means to strengthen bilateral relations
6 August 05:59 PM Egypt, Greece ink maritime demarcation agreement
Cairo – Mubasher: The Egyptian minister of foreign affairs Sameh Shoukry on Thursday signed a maritime demarcation agreement with his Greek counterpart Nikos Dendias to set up an exclusive economic zone. The two ministers discussed the possible …
The country’s net international reserves increased by $113 million in July
6 August 04:20 PM Egypt's gold reserves jump $1.2bn in 7M
Cairo – Mubasher: Gold reserves in Egypt resumed its rising trend, increasing by $429 million or 10.5% to a new record of $4.505 billion in July, compared to $4.076 billion in June, according to data released by the Central Bank of Egypt (CBE) on …
The government allocated a financial package of 2% of GDP
6 August 03:58 PM Egypt’s outlook remains stable amid COVID-19 – JP Morgan
Cairo – Mubasher: Egypt has been the only economy in the MENA region that kept the confidence of international credit rating agencies amid the coronavirus (COVID-19) crisis, maintaining a stable outlook despite the current challenges, JP Morgan …
Egypt secured a $2.7 billion loan from the IMF in May
6 August 01:41 PM Egypt’s net foreign reserves grow to $38.3bn in July
Cairo – Mubasher: Egypt’s net international reserves grew by $113 million to $38.314.5 billion in July, data by the Central Bank of Egypt (CBE) showed on Thursday. The country’s foreign reserves reached $38.201 billion in June and $36.003 billion …
Suez Canal has achieved revenues of $3.3 billion year-to-date
6 August 01:14 PM Egypt’s Suez Canal generates $27.2bn revenue in 5 yrs
Cairo – Mubasher: Egypt’s Suez Canal has generated $27.2 billion in revenue for the last five years, the chairman of the Suez Canal Authority (SCA) Osama Rabea said. About 90,000 vessels have crossed Suez Canal with a net tonnage of 5.5 billion …
The issuance will be used to finance the country’s budget deficit
6 August 10:45 AM CBE offers EGP 20.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 9.5 billion and will be offered through …
The project is aimed at achieving a balance in the local meat market
5 August 05:58 PM Egypt to allocate additional EGP 1bn to veal project
Cairo – Mubasher: The Egyptian President Abdel Fattah El-Sisi instructed the government to increase the funding allocated for the National Project for Veal Revival by EGP 1 billion. The project is aimed at achieving a balance in the local meat …
Bids will be opened on Sunday, 9 August.
5 August 04:38 PM Egypt launches tender to buy 5K tonnes of vegetable oils
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) announced the launch of a local purchase tender for vegetable oils. The state-run body aims to purchase a minimum of 3,000 tonnes of soyoil and 2,000 tonnes of …
Total payments made through SADAD registered SAR 174.136 billion in H1-20
5 August 04:11 PM SADAD payments in KSA down 21% in H1
Riyadh – Mubasher: Invoices paid through SADAD, one of the Saudi Arabian Monetary Authority’s (SAMA) payment systems, fell by 21.65% on a yearly basis in the first half (H1) of 2020, or SAR 48.031 billion. Total payments made through SADAD …
The price of 24-karat gold amounted to EGP 1,046 per gram
5 August 04:05 PM Egypt's gold prices rise to all-time high
Cairo – Mubasher: Gold prices continued its rising trend in the Egyptian market, reaching an all-time high on Wednesday, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The price of 24-karat gold …
Egypt’s tourism revenues dropped by 11.5% in Q1-20
5 August 03:41 PM Egypt's tourism revenue losses forecast at 2% of GDP – IMF
Cairo – Mubasher: Egypt’s losses in tourism revenues could exceed 2% of the country’s gross domestic product (GDP) in 2020 due to the coronavirus (COVID-19) crisis, the International Monetary Fund (IMF) said in a report on Tuesday. The expectation …
Event is now set to be held in March 2021
5 August 03:35 PM Riyadh Travel Fair 2020 delayed for second time
Riyadh – Mubasher: The Riyadh Travel Fair 2020 was postponed for the second time in 2020 because of the COVID–19 pandemic. The 2020 edition of the fair was initially scheduled to take place last March, with the date then postponed to September …
The 12-month outlook for non-oil business activity improved in July
5 August 01:11 PM Saudi PMI hits five-month high in July
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector economy was stable at the start of the second half (H2) of 2020, with the headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) rising to 50.0 in July from …
Egypt Purchasing Managers’ Index increased to 49.6 in July
5 August 11:05 AM Egypt's PMI rises in July as economy reopens
Cairo – Mubasher: Egypt's non-oil private sector contracted at its lowest pace in a year in July as key parts of the economy such as tourism and hospitality started to reopen. The seasonally adjusted IHS Markit Egypt Purchasing Managers’ Index …
The UAE businesses are witnessing a modest recovery
5 August 10:39 AM UAE PMI sees marginal recovery in July - IHS Markit
UAE - Mubasher: IHS Markit UAE Purchasing Managers' Index (PMI), an indicator focusing on the non-oil private sector, went up to 50.8 in July from 50.4 in June. The index reflects an improvement in the sector for the second month in a row, as the …