Macroeconomics

AMOC’s general meeting in the presence of Egypt's petroleum minister Tarek El-Molla
1 hour ago AMOC provides EGP 8.5bn petroleum products for local market - Chairman
Cairo – Mubasher: Alexandria Mineral Oils Co’s (AMOC) chairman and managing director Amro Mustafa on Sunday said that his firm contributed in providing the Egyptian market with petroleum products, equivalent to EGP 8.5 billion. The EGX-listed …
The DFMGI tumbled 0.9% or 32.22 points to 3,600.32
2 hours ago DFM closes Sunday at 3,600 pts
By: Mahmoud Gamal Dubai - Mubasher: The Dubai Financial Market (DFM) closed Sunday in the red, marking its third successive drop, while the trading value decreased to its lowest level in September owing to quick speculations. The DFMGI tumbled …
4G services will be available through WE, Vodafone, Etisalat, and Orange
3 hours ago MCIT to officially launch 4G services in Egypt Thursday
Cairo – Mubasher: Egypt’s Ministry of Communication and Information Technology (MCIT) will officially launch the fourth generation (4G) of cellular services in the Egyptian market on Thursday, 28 September, sources told Youm7. Moreover, the MCIT …
The sales of bottled water in the UAE hit AED 1.7 billion in 2016, the report added
3 hours ago Bottled water sales to reach AED 2.7bn by 2021 – Report
Abu Dhabi – Mubasher: It is expected that retail sales of bottled water in the UAE will reach AED 2.7 billion by 2021, a new report issued by Dubai Chamber of Commerce and Industry has said. The report forecast that these sales will grow by a …
The exclusive supplier of electricity in Dubai announced plans to double EV charging stations to 200 stations by 2018
4 hours ago DEWA launches incentives for electrical car drivers in Dubai
By: Amr Adel Dubai – Mubasher: The Dubai Electricity and Water Authority (DEWA) on Sunday announced the launch of incentives for using electrical vehicles (EV) in Dubai. These incentives, which are provided in cooperation with the Dubai Road and …
By 10:00 am Qatar time, all sectors rose, except for transportation, which shed 0.16%
10:37 AM QSE gains on real estate, services early Sunday
Mubasher: The general index of Qatar Stock Exchange (QSE) levelled up 0.22% or 20.1 points to 9,115.55 points at Sunday’s opening. By 10:00 am Qatar time, all sectors rose, except for transportation, which shed 0.16%. The real estate sector led …
The UAE is willing to fully execute the Gulf Railway
10:33 AM GCC Ministers of Transport defer Gulf Railway execution
Abu Dhabi – Mubasher: The Committee of Ministers of Transport and Communication in the GCC has decided to postpone the implementation of the Gulf Railway to 2020 – 2021 instead of 2018. The UAE is willing to fully execute this project, minister of …
This event will present a group of invited speakers and delegates
10:02 AM Global Financial Forum to kick off mid-November in Dubai
Dubai – Mubasher: Dubai International Financial Centre (DIFC) will launch the Global Financial Forum (GFF) on 14 November, under the theme of ‘Navigating the New Order’. This event will present a group of invited speakers and delegates that will …
UAE President Khalifa bin Zayed Al Nahyan
09:40 AM UAE government nods to AED 1.2bn projects
Abu Dhabi – Mubasher: The UAE President’s Follow-up Committee of the Initiatives has approved AED 1.2 billion ($327 million) in infrastructure and urban development projects across the country, Emirates News Agency (WAM) reported. Khalifa bin …
IFC to pump $150m in Egypt’s agriculture sector – Minister
23 September 03:23 PM IFC to pump $150m in Egypt’s agriculture sector – Minister
Cairo – Mubasher: The executive board of the International Finance Corporation (IFC), the subsidiary of the World Bank (WB) approved on Friday to invest $150 million in Egypt’s agricultural sector, the Minister of Investment and International …
ADFG to invest in Egypt’s educational sector – Minister
23 September 01:19 PM ADFG to invest in Egypt’s educational sector – Minister
Cairo – Mubasher: Abu Dhabi Financial Group (ADFG) is interested in investing in Egypt's educational sector during the coming period, Egypt’s Minister of Investment and International Cooperation Sahar Nasr said on Friday during meeting with the …
An agreement had been signed in 2015 between KACARE and South Korea
22 September 05:35 PM KSA launches first nuclear power station in 2020
Ryiadh – Mubasher: The South Korean ambassador to the Kingdom of Saudi Arabia, Kwan Pyung-oh, said that his country is looking forward to constructing the first nuclear power station in the Kingdom, according to Al Eqtisadiah newspaper. The …
The number of the Saudi visitors during the first seven months of 2017 amounted to 904,000 visitors
22 September 04:56 PM Dubai sees 9.46m Saudi tourists in 10 years
Dubai – Mubasher: The number of Saudi tourists to the emirate of Dubai during the last 10 years reached 9.47 million tourists, according to Al Bayan newspaper. The number of the Saudi visitors during the first seven months of 2017 amounted to …
Saudis top other GCC and Arab investors
22 September 04:37 PM Saudis invest AED 53bn in Dubai real estate
Abu Dhabi – Mubasher: Sultan Butti bin Mejren, director general of Dubai Land Department, announced that the investments of Saudi nationals reached AED 53 billion, during the period from 2002 until September 2017, according to Al Bayan newspaper. …
Egypt is targeting the production of 500,000 cars per annum
21 September 08:04 PM Egypt’s auto industry sees $3bn investments – Minister
Cairo – Mubasher: The total value of investments in Egypt’s automotive industry amounts to $3 billion, said trade and industry minister Tarek Kabil. The auto industry is one of the most important and strategic sectors in the national economy, he …
Meanwhile, minister of petroleum and mineral resources Tarek El-Molla said that the cost of Egypt’s petroleum product subsides has reached EGP 122.4 billion in 2017
21 September 07:27 PM Egypt sees 41 oil explorations in FY16/17 – EGPC
Cairo – Mubasher: Abed Ezz El Regal, CEO of the Egyptian General Petroleum Corporation (EGPC), said on Thursday that there were 41 new petroleum explorations in the fiscal year 2016/2017. The new explorations include 28 for crude oil and 13 for …
GCC fund managers’ assets are projected to increase to $110.9 billion by 2020 from $45.8 billion in 2016, the report concluded
21 September 07:12 PM Six UAE SWFs record AED 4.74tn value - DIFC
Dubai – Mubasher: The Dubai International Financial Centre (DIFC) said in a new report that the values of the biggest 13 Sovereign Wealth Funds (SWFs) in GCC countries have reached $2.89 trillion by the end of June 2017. Among these funds, six are …
Aiguo said that the industrial zone will incorporate industrial, commercial, and service facilities, in addition to schools and hospitals, the newspaper added
21 September 02:52 PM China in talks to build industrial zone in Egypt
Cairo – Mubahser: Chinese ambassador to Egypt Song Aiguo has said that China was negotiating with the Egyptian government the establishment of an integrated industrial zone in the New Administrative Capital, according to Almal newspaper. Aiguo …
Kuwait’s oil output reached 2.7 million bpd in August
21 September 02:32 PM Kuwait oil revenues hit KWD 5.3bn in 5M
Kuwait – Mubasher: Kuwait’s oil revenues in the first five months of its fiscal year 2017/2018 amounted to KWD 5.3 billion ($17.56 billion), representing 45.3% of the country’s revenues for the year estimated at KWD 11.7 billion ($38.77 billion). …
The Africa50 fund will invest $8 million in 400 MWp project, which will be developed at the Benban site north of Aswan, according to the fund’s statement
21 September 12:36 PM Africa50 invests $8m in Aswan
Cairo – Mubasher: Infrastructure fund Africa50 has announced signing a joint development agreement with Norway’s Scatec Solar ASA and Norfund to finance a 400-megawatt peak (MWp) for solar power plants in Aswan, Egypt. The Africa50 fund will …
August alone recorded a deficit of KWD 49.9 million
21 September 11:59 AM Kuwait deficit hits KWD 84m in 5M – MoF
Kuwait – Mubasher: Kuwait’s general budget has recorded a deficit of KWD 83.55 million ($277.88 million) for the five-month period ended August, according to the country’s Ministry of Finance (MoF). August alone recorded a deficit of KWD 49.9 …
The general wholesale price index in Saudi Arabia fell 1.2% in August
20 September 07:51 PM Saudi wholesale price index falls 1.2% in August
Riyadh – Mubasher: The general wholesale price index in Saudi Arabia fell 1.2% in August on a year-on-year basis, data released by the General Authority for Statistics (GASTAT) on Wednesday showed. The drop was mainly due to declines in four …
The total value of credit facilities rose to QAR 900.02 billion from QAR 891.21 billion
20 September 06:49 PM Credit facilities rise to QAR 900bn in August - QCB
Mubasher: Qatar Central Bank (QCB) statements showed a 0.99% month-on-month increase, or QAR 8.81 billion, in credit facilities by the end of August. The total value of credit facilities rose to QAR 900.02 billion ($249.11 billion) from QAR 891.21 …
The decline in the market is still healthy for the time being owing to profit-taking after several stocks saw major increases lately, he added
20 September 04:01 PM Real estate weighs on DFM at close Wednesday
Dubai – Mubasher: The Dubai Financial Market (DFM) closed in the red on Wednesday, pressured by the real estate sector. The general index lost 0.62% or 22.53 points to 3,632.54 points. The DFM dropped considerably for the second successive session …
“However, this investor class has seldom been researched in detail despite its widespread influence in the economy,” the report commented
20 September 03:59 PM Pension funds important for GCC stability, growth – Marmore
Mubasher: Pension funds across the GCC are the second largest set of institutional investors in the region after the Sovereign Wealth Funds (SWFs), according to a report by Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre …