Macroeconomics

The decision will increase investors’ confidence in the Egyptian market
16 February 06:10 PM Interest rates cut to boost all sectors in Egypt – Report
Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates by 1% is a boost to investments in all sectors, according to a report released on Saturday by Beltone Financial Holding. The CBE’s decision will increase investors’ …
Hiring rates increased from April to December 2018
16 February 04:40 PM VAT leaves no effect on hiring rates in UAE – Survey
Dubai – Mubasher: The introduction of the value-added tax (VAT) in the UAE did not impact hiring rates, according to a survey conducted by LinkedIn. Around 84% of the respondents of human resource (HR) professionals in the UAE still confident …
Total banking credit in Kuwait grew to KWD 36.9 billion
14 February 09:48 PM Kuwaiti bank deposits hit KWD 43.5bn in December
Mubasher: Total bank deposits rose 3.2% year-on-year in Kuwait during December, recording KWD 43.5 billion ($143.16 billion). Private sector’s deposits grew 4.1% year-on-year in December, while public deposits declined 1.8% year-on-year, according …
The MPC is paying close attention to all economic developments
14 February 09:33 PM CBE cuts interest rates by 1%
Cairo – Mubasher: The Central Bank of Egypt (CBE) has decided to decrease interest rates by 1%, according to an official statement released on Thursday. The Monetary Policy Committee (MPC) reduced overnight deposit rate, overnight lending rate, …
The EGP went up 7 piasters against the USD in Audi Bank
14 February 08:11 PM EGP levels up against USD – Thursday
Cairo – Mubasher: The EGP exchange rate grew from 4 to 7 piasters against the US dollar on Thursday. The EGP rate increased by 6 piasters against the USD in both the National Bank of Egypt (NBE) and the Commercial International Bank (CIB), …
EGP may see further volatility if traders inclined to the open market
14 February 07:30 PM Investors in EGP eye interest-rate cuts ahead of MPC meeting Thursday
Cairo – Mubasher: Forex traders of the Egyptian pound are maintaining their investments in the currency, anticipating the Central bank of Egypt's (CBE) decision to slash interest rates, according to Bloomberg. “Traders in the pound are betting …
The launch event was attended by Sheikh Mohammed bin Rashid Al Maktoum
14 February 06:07 PM DXB brand launched to make Dubai Int'l the world's best
Dubai Airports on Wednesday announced plans to elevate the airport customer experience as it unveiled a new brand for Dubai International Airport (DXB). It said the DXB brand launch signifies Dubai Airports’ transition from airport operator to a …
The authority recorded a surge of 135% in net profits in 4 years
14 February 05:18 PM Kuwait Port Authority records KWD 161m profit in 4 years
Mubasher: Kuwait Port Authority achieved a net earning of KWD 161.4 million ($532.7 million) in four years, Kuwait News Agency (KUNA) said, according to a statement on Thursday. The authority recorded a surge of 135% in net profits during the …
The film will be shot next week
14 February 04:19 PM Pierce Brosnan to shoot action movie ‘The Misfits’ in Abu Dhabi
Abu Dhabi – Mubasher: Irish actor, film producer, and activist Pierce Brosnan is to star in the coming action movie “The Misfits”, which will begin shooting later this month in Jumeirah at Etihad Towers, Abu Dhabi. The film, directed by action …
QTerminals was established as an operator of the first phase of Hamad Port in Qatar
14 February 03:53 PM QTerminals resumes Hamad Port phase II projects
Mubasher: QTerminals announced resuming its plan for developing container terminal 2 in the second phase of Hamad Port. The Qatari firm succeeded in issuing a request for quotation (RFQ) for design, supervision and consulting services as well as a …
Brent crude April futures added 1%
14 February 01:19 PM Kuwait crude oil up $1.18 on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil added 1.9% or $1.18 to settle at $62.93 per barrel (pb) on Wednesday compared to $61.75 pb in the previous session, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global …
Saudi Arabia’s Finance Minister Mohammed Al-Jadaan
14 February 12:49 PM Saudi Arabia confirms money-laundering combat commitment
Riyadh — Mubasher: The decision of including Saudi Arabia in the European Union’s (EU) blacklist of 23 nations due to money-laundering activities “isn’t final”, the kingdom’s finance minister said in a statement. The move must first be approved by …
Indian and US companies accounted for 13.9% and 12.2% of Dubai’s foreign firms
14 February 12:25 PM UK firms top Dubai’s foreign branches; US, India follow – Report
Dubai – Mubasher: UK firms registered the highest number of foreign branches operating in Dubai with 28% of the total foreign influx, according to a new report. Foreign companies’ branches rose to 1,985 in Dubai, while the number of branches of …
The issuance will be used to finance the budget deficit
14 February 10:33 AM CBE issues EGP 18bn T-bills Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18 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 8.75 …
CallisonRTKL said the complex will include the Kuwait Tennis Federation headquarters
13 February 05:16 PM Kuwait’s mega tennis complex to open in 2019
Mubasher: Kuwait is expected to open Sheikh Jaber Al Abdullah Al Jaber Al Sabah International Tennis Complex in 2019. Global architecture group CallisonRTKL said steady progress was being made on the mega-complex spanning 263,430 square …
The tourism sector in Egypt will maintain recovery, easing the current deficit
13 February 04:46 PM Egypt’s tourism revenue to maintain growth - Report
Cairo – Mubasher: Egypt’s tourism revenue is likely to grow by nearly 2% of gross domestic product (GDP) in the coming years, Capital Economics said in a recent report. The tourism sector in Egypt will maintain recovery, easing the current …
High Tea at The Lounge is priced AED 550 per person
13 February 04:19 PM The Lounge opens as highest point in Dubai's Burj Khalifa
Mubasher: Dubai has witnessed the opening of The Lounge, the highest point in Burj Khalifa at levels 152, 153 and 154. Towering at an imposing height of 575 meters, The Lounge, Burj Khalifa was built to be the world's highest restaurant, spanning …
EGP stabilises against USD Wednesday
13 February 03:50 PM EGP stabilises against USD Wednesday
Cairo – Mubasher: The Egyptian pound exchange rate remained stable against the US dollar at national banks on Wednesday. The USD rate remained stable at EGP 17.55 for buying and EGP 17.65 for selling at Egypt’s two largest state-run banks, namely …
The CBE is expected to keep interest rates on hold due to subsidy cuts and its impact on higher inflation
13 February 03:36 PM CBE to keep interest rates unchanged – Fitch Solutions
Cairo – Mubasher: Fitch Solutions on Wednesday said that the Central Bank of Egypt (CBE) is likely to maintain interest rates unchanged over the next few months. The CBE is expected to keep interest rates on hold due to subsidy cuts and its impact …
The kingdom's non-oil revenues are expected to reach SAR 313 billion this year
13 February 03:07 PM Saudi Arabia’s budget deficit to hit SAR 168bn in 2019 – Report
Riyadh – Mubasher: Saudi Arabia’s budget deficit is expected to post a slight increase to SAR 168 billion ($44.8 billion) in 2019, representing 5.5% of the kingdom’s gross domestic product (GDP), according to a new report. The widened deficit was …
The loan will be used to bolster the social part of Egypt’s economic reform programme
13 February 02:51 PM Egypt, Germany ink $250m reform deal
Cairo – Mubasher: Egypt and Germany have signed the second tranche worth $250 million of the $500 million German economic and social support. The deal was signed by Egyptian investment and international cooperation minister Sahar Nasr and KfW …
The kingdom has launched the Narrowband IoT locally
13 February 02:08 PM Saudi IoT market value reaches SAR 3bn/yr – Ministry
Riyadh – Mubasher: Saudi Arabia’s Internet of Things (IoT) market registered a 26% annual growth to around SAR 3 billion ($800 million), Saudi vice minister of Communications and Information Technology Haytham AlOhali said. The kingdom has …
Department of Economic Development - Ajman
13 February 01:46 PM DED-Ajman posts 53% growth in business licences in Q4-18
Abu Dhabi – Mubasher: The Department of Economic Development - Ajman (DED-Ajman) on Wednesday reported strong activity in terms of business licensing and economic permits for the fourth quarter of 2018. Between October and December, DED-Ajman …
Moody's ascribed its positive outlook to the broad-based growth recovery
13 February 01:22 PM Moody's maintains positive outlook on Egypt's sovereign credit
Cairo - Mubasher: Moody’s Investors Service has maintained its positive outlook on Egypt’s sovereign credit. The US-based rating agency has kept its outlook on the North African nation unchanged due to the broad-based growth recovery, according to …
Around 82% of business leaders were confident Saudi Arabia would manage to accomplish the targets of Vision 2030
13 February 01:06 PM Top executives upbeat about Saudi economic prospects - Oxford Business
Riyadh — Mubasher: Most of Saudi Arabia’s top senior executives are optimistic about the kingdom’s long-term economic prospects, Oxford Business Group said in a new survey. Around 82% of business leaders were confident Saudi Arabia, the world’s …