Macroeconomics

Minister of trade and industry Tarek Kabil
32 minutes ago Egypt, Cyprus trade hits EUR 42m in 7M - Minister
Cairo – Mubasher: Trade volume between Egypt and Cyprus reached EUR 42.3 million during the first seven months of 2017 from EUR 29 million in the prior-year period, Egypt’s trade minister Tarek Kabil said. Egypt’s exports of commodities to Cyprus …
Oil prices increase amid optimism of controlling the market
1 hour ago Oil prices rise amid optimism stronger OPEC control
Mubasher: Oil prices jumped during Tuesday’s trades ahead of initial data regarding US oil stockpiles, as investors welcomed the resolutions by the Organization of Petroleum Exporting Countries (OPEC) to impose further market control. By 10:43 am …
South Korea's GKC to ink $225m power plant deal Wednesday
2 hours ago South Korea's GKC to install $225m power plant in Beheira
Cairo – Mubasher: South Korea's Global Knowledge Company (GKC) will sign an agreement on Wednesday to develop a $225 million waste-to-energy power plant in Beheira, CEO of GKC MENA Ihab Tahoon told Al-Mal News. The first phase of the deal will …
The VAT will be applied in UAE by January 2018
3 hours ago UAE’s VAT may face obstacles - DCCI CEO
Dubai- Mubasher: Unreadiness of a large number of small and medium-sized enterprises (SMEs) poses a challenge to put value-added tax (VAT) into effect early 2018, president and CEO of Dubai Chamber of Commerce and Industry (DCCI) Hamad Buamim told …
Egypt, Cyprus eye gas pipeline construction December
3 hours ago Egypt, Cyprus eye gas pipeline construction December
Cairo – Mubasher: Egypt and Cyprus agreed to start talks in December over establishing a natural gas pipeline to transfer gas from Cypriot fields to Cairo, according to China’s Xinhua. Negotiations between both parties will include using an …
Prime Minister Sherif Ismail
3 hours ago Egypt’s informal economy hits EGP 1.8tr – Prime Minister
Cairo – Mubasher: Egypt’s informal economy stood at EGP 1.8 trillion, Prime Minister Sherif Ismail said in a statement. Egypt is likely to add handcrafts industries to the formal economy which will boost the country’s gross domestic product (GDP), …
The private sector will have the lion’s share of these energy projects
3 hours ago UAE to launch AED 600bn energy projects by 2050
Abu Dhabi – Mubasher: The total cost of energy projects in the UAE is expected to reach AED 600 billion (163.38 billion) by 2050, the UAE’s minister of energy and industry Suhail bin Mohammed Al-Mazroui has said. The private sector will have the …
Oil prices declined in line with the anticipation for the OPEC meeting
4 hours ago Kuwait crude oil rises 70 cents – KPC
Mubasher: The price of Kuwait’s crude oil increased by 70 cents to settle at $59.14 per barrel (pb) on Monday compared to $58.44 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
Saudi Deputy Minister of Finance for Revenues Tariq Alshuhayeb
20 November 08:49 PM Saudi Q4 budget to include PIF revenues - MoF
Riyadh - Mubasher: The Saudi Ministry of Finance (MoF) said that data of the third quarter of the year did not include the revenues achieved by the Public Investment Fund (PIF), which will be revealed in Q4, according to the deputy minister for …
Japanese exports to Saudi Arabia jumped 13.2%
20 November 07:49 PM Saudi Arabia’s trade surplus with Japan reaches SAR 7.7bn in October
Riyadh - Mubasher: Saudi Arabia’s trade surplus with Japan increased 62% to JPY 230.155 billion (SAR 7.7 billion) in October 2017 compared to the same period last year, according to the Japanese finance ministry's monthly bulletin released Monday. …
Michelin eyes 40% stake sale in Anhui Warrior
20 November 06:50 PM Michelin eyes 40% stake sale in Anhui Warrior
Mubasher: France's Compagnie Generale des Etablissements Michelin on Monday announced plans to sell about 40% of its stake in Chinese joint venture Anhui Warrior. The French tire company added that it will sell 30% of the shares to Shanghai Huayi …
Toshiba to sell $5.4bn shares to avoid delisting
20 November 05:51 PM Toshiba to sell $5.4bn shares to avoid delisting
Mubasher: Toshiba on Monday announced that the company is planning to sell new shares valued at $5.4 billion to foreign investors so as to meet the company’s needs and avoid delisting. The Japanese company seeks to sell 2.28 billion shares valued …
KSA finances budget deficit with SAR 58.5bn in Q3 – MoF
20 November 05:31 PM KSA finances budget deficit with SAR 58.5bn in Q3 – MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) financed the country’s budget deficit with SAR 58.5 billion during the third quarter of 2017. Budget deficit’s financing was distributed on SAR 37 billion from domestic loans, SAR 6.5 billion …
Revenues totalled KWD 8.34 million in seven months
20 November 05:09 PM Kuwait budget deficit posts KWD 2.33bn in 7M
Mubasher: Total budget deficit in Kuwait registered KWD 2.33 billion ($7.73 billion) from the beginning of the fiscal year until October, according to the monthly report of the finance ministry in Kuwait. Revenues totalled KWD 8.34 million in the …
VAT not to be imposed on individual car sales - FTA
20 November 02:12 PM VAT not to be imposed on individual car sales - FTA
Dubai - Mubasher: The UAE’s Federal Tax Authority (FTA) has announced that the value-added tax (VAT) will not be imposed on the direct selling of cars between individuals. However, the tax will be imposed on the sale of used cars if the seller has …
Tobacco trade drops $18m in Abu Dhabi ahead of tax
20 November 02:01 PM Tobacco trade drops $18m in Abu Dhabi ahead of tax
Abu Dhabi - Mubasher: The total value of the tobacco trade in Abu Dhabi dropped 20% or $18 million to reach $94 million from $112 million in the first nine months in 2017, Arabian Business said. This drop comes ahead of the upcoming implementation …
FDIs in Africa to hit $60bn in FY17/18
20 November 01:59 PM FDIs in Africa to hit $60bn in FY17/18 - Minister
By: Abdullah Bedier Cairo – Mubasher: Foreign direct investments (FDIs) in Africa are expected to stand at $60 billion during the current fiscal year, Egypt’s investment minister Sahar Nasr said. These expectations will be achieved, in line with …
Entertainment and culture topped eleven rising groups in the CPI
20 November 01:35 PM Kuwait inflation rises 1.43% in October
Mubasher: The Central Statistical Bureau (CSB) in Kuwait reported an increase of 1.43% in inflation during October 2017 compared to the same month in the prior year. The country’s inflation rose to 113.1 points in October 2017 from 111.5 points in …
Kuwait’s Alshaya mulls establishing Avenues Mall in Egypt
20 November 01:18 PM Kuwait’s Alshaya mulls establishing Avenues Mall in Egypt
Cairo – Mubasher: Egypt’s investment minister Sahar Nasr and Kuwait’s Alshaya Group were in talks over establishing the Avenues Mall in Egypt, according to a statement by the Ministry of Investment and International Cooperation on Monday. Nasr met …
The Kuwait-Japan trade surplus increased to 32.14 billion Japanese Yen ($286 million) in October 2017
20 November 12:38 PM Kuwait trade surplus with Japan grows 64.4%
Mubasher: Kuwait has registered a trade surplus of 64.4% with Japan in October, on an annual basis, according to the monthly report issued by the Japanese finance ministry. The Kuwait-Japan trade surplus increased to 32.14 billion Japanese Yen …
Al Haramain train’s 1st experimental trip to start Monday
20 November 11:40 AM Al Haramain train’s 1st experimental trip to start Monday
Riyadh – Mubasher: Al Haramain High Speed Rail’s first experimental trip will start on Monday between Makkah and Jeddah. The trip will reach to Sulaymaniyah station in Jeddah from Al Rasaifah in Makkah, according to the Saudi News Agency (SPA). Al …
CBE issues EGP 2.25bn T-bills Monday
20 November 10:29 AM CBE issues EGP 2.25bn T-bills Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 2.25 billion on Monday in coordination with the Ministry of Finance (MOF) to finance the budget deficit. The first tranche of T-bills will be offered …
Egypt, KFAED ink KWD 17.5m finance deals
19 November 03:23 PM Egypt, KFAED ink KWD 17.5m finance deals
Cairo – Mubasher: Egypt’s investment minister Sahar Nasr has signed two agreements of total KWD 17.5 million (EGP 1 billion) with the general manager of the Kuwait Fund for Arab Economic Development (KFAED) to bolster development projects in North …
Qatar offers $1bn in international aid yearly – Al Emadi
19 November 02:57 PM Qatar offers $1bn in international aid yearly – Al Emadi
Mubasher: Ali Sharif Al Emadi, Qatar’s minister of finance, recently revealed that Qatar provides assistance of around $1 billion a year to governmental and non-governmental organisations. Speaking on the sidelines of the ECOSOC Forum on financing …
Saudi Arabia eyes $100bn in settlements from anti-corruption purge
19 November 02:08 PM Saudi Arabia eyes $100bn in settlements from anti-corruption purge
Riyadh - Mubasher: Saudi Arabia’s recent anti-corruption campaign comes with a new development where detained princes and businessmen are offered the chance to pay a settlement in order to avoid trial. Saudi authorities expect that the state may …