Macroeconomics

Egypt's investment and international cooperation minister Sahar Nasr
25 May 02:52 PM Greek companies to pump new investments into Egypt
Cairo – Mubasher: The ambassador of Greece to Cairo, Michel Christos Diamisis, said that 17 Greek companies plan to inject new investments into development projects in Egypt. Egypt's investment and international cooperation minister Sahar Nasr …
The Egyptian Ministry of Finance
24 May 10:07 PM Egypt to get $3bn from Eurobonds in May
Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) said that it will raise $3 billion from Eurobonds sale by the end of May, as reported by Reuters on Wednesday. Finance minister, Amr El-Garhy said they have received demands with a total …
Photo Credit: Arabianeye-Reuters
24 May 06:43 PM Kuwaiti oil exports to China up 38% in April
Mubasher: Kuwait's crude oil exports to China surged 37.5% in April 2017 to 1.63 million tons, equivalent to around 397,000 barrels per day (bpd), government data showed, according to Kuwait News Agency (KUNA). Kuwaiti shipments of crude oil to …
(Photo Credit:Dubai Chamber statement)
24 May 05:13 PM Dubai, Kenya non-oil trade worth $1.1bn in 2016
Dubai – Mubasher: Dubai’s non-oil trade with Kenya during 2016 reached $1.1 billion, senior vice president of commercial services in Dubai Chamber Atiq Juma stated. Equipment, vegetables, and metal products were the most exported items to Kenya in …
Photo Credit: Arabianeye-Reuters
24 May 04:48 PM UAE supports extending the OPEC agreement - Minister
Abu Dhabi - Mubasher: The United Arab Emirates minister of energy, Suhail bin Mohammed Al Mazroui, said on Wednesday that his country supports extending the oil output cut agreement. The UAE is ready to endorse a six or a nine-month extension …
Photo Credit: Arabianeye-Reuters
24 May 03:52 PM Oman oil prices rise 89 cents
Mubasher: The price of Oman oil futures for July delivery went up by 89 cents per barrel today, according to the data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $53.24 per barrel (pb) on Wednesday, compared …
Photo Credit: Arabianeye-Reuters
24 May 03:46 PM KNPC inks $6.2bn deal on fuel project
Kuwait – Mubasher: Kuwait National Petroleum Co (KNPC) has signed a finance agreement worth $6.2 billion with representatives of export credit agencies and international banks. The agreement will finance the Clean Fuel Project, affiliated to the …
Photo Credit: Press Release
24 May 03:11 PM National Water grants SAR148m infrastructure contracts
Riyadh - Mubasher: The board of the Saudi National Water Company (NWC) has awarded four contracts to establish sewage networks to a number of neighborhoods in Riyadh. The deals have a total value of SAR 148 million ($39.5 million) and will be …
Photo Credit: Arabianeye-Reuters
24 May 02:48 PM CBE announces working hours for Ramadan
Cairo - Mubasher: The Central Bank of Egypt (CBE) announced the working hours during the holy month of Ramadan. In a statement issued on Wednesday, the CBE announced that the working day for the banking sector’s clients will be from 9:30 am till …
(Photo Credit: ADWEA's website)
24 May 02:37 PM ADWEA closes $872m financing for solar plant – Reuters
Abu Dhabi – Mubasher: Abu Dhabi Water and Electricity Authority (ADWEA) on Wednesday announced that it closed the world’s largest financing package for a solar power plant worth AED 3.2 billion ($872 million), Reuters reported. The UAE authority …
(Photo credit: Arabianeye - Reuters)
24 May 01:16 PM WB delegation to visit Cairo early June
Cairo – Mubasher: Egypt's investment and international cooperation minister Sahar Nasr said Wednesday that a delegation from the World Bank (WB) will visit Cairo in the first week of June. The visit aims to supports the country’s plans to set an …
The Egyptian Ministry of Finance - (Photo Credit: Arabianeye-Reuters)
24 May 12:36 PM Egypt reopens door for int’l bonds subscription
Cairo - Mubasher: The head of the Debt Management department in the Egyptian Ministry of Finance (MoF) said that subscription for the USD international bonds has been opened. Samy Khallaf added in a phone call with Mubasher on Wednesday that …
(Photo Credit: Press Release)
24 May 10:54 AM Abu Dhabi fund finances AED 5.6bn projects in 2016
By: Amr Adel Abu Dhabi – Mubasher: The Abu Dhabi Fund for Development (ADFD) financed 17 projects worth AED 5.6 billion in 2016, according to Seif Al-Sweidy, general manager of the ADFD. The fund provided AED 3.9 billion worth of soft loans and …
Photo Credit: Arabianeye-Reuters
24 May 09:31 AM Kuwait crude oil down Tuesday – KPC
Kuwait – Mubasher: The price of Kuwait’s crude oil lost 33 cents to settle at $50.28 per barrel (pb) on Tuesday, compared to $50.61 on Monday, according to recent data issued by the Kuwait Petroleum Corporation (KPC). It is worth noting that the …
The Egyptian Ministry of Finance - (Photo Credit: Arabianeye-Reuters)
23 May 08:13 PM MoF not discussing Suez Canal CDs interest rise
By: Mostafa Adel Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) is not considering raising interest rates for the Suez Canal certificates of deposit, the deputy finance minister for the public treasury, Mohammed Meit told Mubasher. Meit …
The Egyptian Ministry of Finance (MoF) - (Photo Credit: Arabianeye-Reuters)
23 May 07:43 PM Egyptian government to obtain EGP5-7bn from IPOs
Cairo - Mubasher: The Egyptian deputy finance minister said on Tuesday that Egypt is targeting EGP 5 to 7 billion ($276-$387 million) through initial public offerings (IPO) of state-owned companies in the current fiscal year, according to Reuters. …
Photo Credit: Arabianeye-Reuters
23 May 06:52 PM Is Egypt’s new investment law “too generous”? - Report
Cairo - Mubasher: MubasherTrade Research said that the new Egyptian investment law might be offering too much of incentives for new projects according to different criteria. The Egyptian Parliament has recently approved the long-awaited investment …
Launching the initiative in a press conference on Tuesday
23 May 06:47 PM Egypt aims at providing microfinance to 10m projects
Cairo - Mubasher: The deputy governor of the Central Bank of Egypt (CBE) said that the microfinance initiative targets 10 million beneficiary compared to 2.5 million in 2016. Gamal Negm added that the new initiative includes guidelines to the …
Photo Credit: Mubasher Archive
23 May 05:10 PM Abu Dhabi’s economy to grow 4% next year
By: Amr Adel Abu Dhabi - Mubasher: Khalifa Bin Salem Al Mansouri, the acting undersecretary of Abu Dhabi’s Department of Economic Development (ADDED) is expecting the emirate’s gross domestic product (GDP) to grow 3% in 2017 and 4% in 2018. Al …
(Photo Credit: Arabianeye-Reuters)
23 May 03:45 PM SOMO to sell 2m barrels of Basra light crude on DME
Dubai – Mubasher: Dubai Mercantile Exchange (DME) on Tuesday announced that Iraq’s Oil Marketing Company (SOMO) intends to sell a second shipment of 2 million barrels of Basrah light crude oil on the DME auction platform on 31 May, for July …
(Photo Credit: Arabianeye-Reuters)
23 May 03:39 PM Qatar real estate trade reaches QAR 696m in week
Doha – Mubasher: The Qatari Ministry of Justice on Tuesday reported that the traded value of registered selling contracts from 14 to 18 May amounted to QAR 695.77 million. The traded real estate included vacant land plots, houses, residential …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
23 May 02:41 PM CBE will not raise loan interests for SMEs - Amer
Cairo - Mubasher: The governor of the Central Bank of Egypt (CBE) said that interest levels for small and medium enterprises (SMEs) loans will remain unchanged, as part of the presidential initiative to finance small businesses. Tarek Amer added …
Photo Credit: Press Release
23 May 02:41 PM Egyptian companies’ IPOs progressing as planned - Minister
By: Amr Adel Dubai - Mubasher: The Egyptian minister of public works said on Tuesday that the programme to list some of the public companies on the Egyptian Exchange (EGX) is progressing accordingly to plan. Ashraf El-Sharkawy added on the …
Photo Credit: Arabianeye-Reuters
23 May 02:34 PM Oman oil price down $0.53
Mubasher: The price of Oman oil futures for July delivery decreased by 53 cents on Tuesday, according to data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $52.35 per barrel (pb) on Tuesday, compared to $52.88 …
Photo Credit: Arabianeye-Reuters
23 May 02:03 PM Kuwait likely to post trade surplus in 2017 – NBK
Kuwait – Mubasher: Kuwait’s current trade balance is expected to register a 2% surplus of the gross domestic product (GDP) in 2017, in line with the improvement in oil prices, according to a recent report issued by the National Bank of Kuwait …