Macroeconomics

The Ministry of Finance
21 July 03:42 PM Egypt to issue debt instruments worth EGP152bn in August
Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) intends to issued debt instruments worth EGP 151.5 billion in the upcoming month, with an increase of 26.5% year-on-year, compared to EGP 119.73 billion in August 2016. The ministry noted in …
The chairman of Egypt Kuwait Holding Company met with the Minister of Investment and International Cooperation Sahar Nasr
21 July 12:21 PM EKH to raise investments in Egypt - Chairman
Cairo - Mubasher: The chairman and managing director of Egypt Kuwait Holding Company (EKH), Al Moataz Al Alfi, said that he intends to increase his investments in the upcoming period. Al Alfi added during his meeting with the Egyptian minister of …
The domestic tourism trips rose 2.3% to 47.5 million trips during 2016, from 46.5 million trips during 2015
20 July 08:05 PM KSA tourism investments exceed SAR 151bn in 2016 – SCTH
Riyadh – Mubasher: The Saudi Commission for Tourism and National Heritage (SCTH) on Thursday announced that tourism’s investments achieved more than SAR 151 billion by the end of 2016. The domestic tourism trips rose 2.3% to 47.5 million trips …
Kuwait's trade surplus with Japan witnessed a 46.1% year-on-year growth to JPY 25.6 billion ($228.7 million) in June
20 July 06:43 PM Kuwait's trade surplus with Japan grows 46% in June
Kuwait – Mubasher: Kuwait's trade surplus with Japan witnessed a 46.1% year-on-year growth to JPY 25.6 billion ($228.7 million) in June, according to data released by Japan’s Ministry of Finance (MoF) on Thursday. Kuwait’s imports from Japan …
Qatar's trade surplus with Japan witnessed a 2.1% year-on-year growth to JPY 79.14 billion ($707.07 million) in June
20 July 06:35 PM Qatar's trade surplus with Japan rises 2.1% in June
Doha – Mubasher: Qatar's trade surplus with Japan witnessed a 2.1% year-on-year growth to JPY 79.14 billion ($707.07 million) in June, according to data released by Japan’s Ministry of Finance (MoF) on Thursday. The MoF’s annual report showed a …
Herfy Food, Al-Rajhi Bank ink SAR 110m Murabaha deal
20 July 06:27 PM Herfy Food, Al-Rajhi Bank ink SAR 110m Murabaha deal
Riyadh – Mubasher: Herfy Food Services Co. on Thursday signed a credit facilities agreement (Islamic Murabaha) with Al Rajhi Bank at a value of SAR 110 million. The six-year facilities are effective Thursday, 20 July until 19 July 2023, according …
KSA wholesale price index falls 1.7% in June – GASTAT
20 July 04:19 PM KSA wholesale price index falls 1.7% in June – GASTAT
Riyadh – Mubasher: Saudi Arabia General Authority for Statistics (GASTAT) announced that the wholesale price index in the kingdom decreased by 1.7% in June 2017 year-on-year. Month-on-month, the wholesale price index rose slightly 0.6% to 101.1 …
Al Tayer reviews construction work at Phase 3 of MBR Solar Park
20 July 12:15 PM Phase 3 of MBR Solar Park 22% completed – DEWA
Dubai – Mubasher: Mohammed bin Rashid Al Maktoum Solar Park witnessed a 22% progress in the achievement rate. Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), conducted a field visit to the solar park, according …
The second week of this month saw signing of contracts worth AED 4.77 billion for 18 projects in UAE
20 July 09:56 AM UAE contracted, planned projects rise 0.6%
Dubai – Mubasher: The volume of contracted and planned projects in UAE rose 0.6% year-on-year during the second week of July, Al Bayan newspaper quoted. The second week of this month saw signing of contracts worth AED 4.77 billion for 18 projects …
Credit Suisse to pump $600m in KSA – Bloomberg
19 July 08:49 PM Credit Suisse to pump $600m in KSA – Bloomberg
Riyadh – Mubasher: Bloomberg on Wednesday announced that Credit Suisse Group AG planned to expand in Saudi Arabia. “The Zurich-based bank established a platform allowing it to offer private banking services and products in the country, according …
UAE brokerage firms’ profits plummeted 96.4% in 2016 due to a decline in trading volumes
19 July 06:21 PM UAE brokerages’ profits plunge in 2016 on lower traded volumes
By: Amr Adel Dubai – Mubasher: UAE brokerage firms’ profits plummeted 96.4% in 2016 due to a decline in trading volumes. A total of 48 firms logged net profits of AED 4.5 million down from AED 125.5 million in 2015, data released by the Securities …
Miscellaneous goods and services prices rose 11.2% year-on-year
19 July 02:28 PM Dubai’s inflation up 2.14% in June
Dubai – Mubasher: Dubai’s annual inflation rate for consumer price index (CPI) rose by 2.14% in June 2017, compared to the same period in 2016, according to a statement. Miscellaneous goods and services prices rose 11.2% year-on-year, while …
Emirates Towers Business Park project is expected to be the most outstanding commercial development in Dubai over 10 years
19 July 01:47 PM Emirates Towers to revive Dubai’s commercial property market
Dubai – Mubasher:  Emirates Towers Business Park project is expected to be the “most outstanding” commercial development in Dubai over 10 years, says international property consultant Cluttons. This project represents a distinction in the emirate …
The Egyptian government is working at increasing Egyptian exports
18 July 09:53 PM Egypt supports private sector partnerships in agriculture - FAO
By: Ahmed Abd Elrady Cairo - Mubasher: The Food and Agriculture Organization of the United Nations (FAO) said that the Egyptian government is expanding partnerships with the private sector to elevate the agriculture sector. The FAO representative …
The Egyptian Prime Minister, Sherif Ismail
18 July 06:25 PM Egypt agrees 10% social allowance with private sector
Cairo - Mubasher: The Egyptian Ministry of Manpower and Immigration has signed an agreement with Egypt Trade Union Federation (ETUF) and representatives of business owners, to pay those working in the private sector a 10% social allowance. The …
The inflation is expected to post a positive trend in the coming six months
18 July 04:28 PM KSA deflation will not last longer – Capital Economics
Riyadh – Mubasher: Capital Economics said that the deflation in Saudi Arabia may not last for a longer time, after it posted a decline in June for the sixth month in a row. The inflation is expected to post a positive trend in the coming six …
The clothes basket retreated 3.5%
18 July 03:59 PM KSA posts deflation for 6M in row
Riyadh – Mubasher: The consumer price index (CPI) in Saudi Arabia edged down by 0.4% in June 2017 compared to the same month in 2016, keeping the deflationary trend for the sixth month in a row. On an annual basis, the Kingdom’s deflation went up …
The 42,000 square feet villa features eight bedrooms
18 July 02:07 PM Villa in Emirates Hill sold for AED 100m
Dubai – Mubasher: Gulf Sotheby’s International Realty, along with its strategic partner Bellevue, closed the deal related to a deal worth AED 100 million ($27.22 million) after a villa at Emirates Hills. The 42,000 square feet villa features eight …
The UAE government has begun preliminary studies to impose taxes on companies in the UAE
18 July 01:35 PM UAE mulls imposing corporate tax – MoF official
Abu Dhabi – Mubasher: The UAE government has begun preliminary studies to impose taxes on companies in the UAE, Younis Al Khouri, under-secretary of the UAE’s Ministry of Finance (MoF) said in a statement. The ministry will coordinate with the …
Dubai witnessed a rapid growth in the energy efficiency market in 2016
18 July 01:29 PM Dubai to invest AED 200m in energy efficiency projects
Dubai – Mubasher: The Regulatory and Supervisory Bureau for Electricity and Water (RSB Dubai) has revealed that certified energy service companies launched AED 200 million worth of projects to enhance energy efficiency in 2016. These projects will …
The emirate witnessed growth in the energy efficiency market in 2016
18 July 12:43 PM Energy companies launch AED 200m projects in 2016
Dubai – Mubasher: Accredited energy service companies have launched energy efficiency projects worth around AED 200 million in 2016, according to a press release. The projects are expected to deliver annual electricity savings of 95 gigawatt hours …
The office sector in the Saudi capital witnessed a slight decrease in rentals
17 July 06:49 PM Riyadh property market softens in Q2, more hotels expected in H2 – JLL
Riyadh - Mubasher: US-based JLL on Monday released its report on the real estate market in Riyadh, Saudi Arabia, for the second quarter of 2017, where it assessed the most up-to date trends in the residential, retail, office and hotels sectors. …
The UAE Football Association Securities recently signed an MoU the Securities and Commodities Authority
17 July 06:15 PM UAE football clubs on road to become listed companies - Report
By: Amr Adel and Mahmoud Gamal Dubai - Mubasher: Football clubs in the United Arab Emirates are stepping up into major business entities, mimicking in a way its European counterparts. On Sunday, the Securities and Commodities Authority signed a …
Qatar’s royal family and the Chinese company each own just under 10% of Germany's flagship lender
17 July 05:45 PM ECB reviews ownership of Qatar royals in Deutsche Bank
Doha – Mubasher: The European Central Bank (ECB) is considering launching a review of ownership control procedures “to scrutinise” Deutsche Bank’s two largest shareholders, namely Qatar’s royal family and the Chinese HNA group, according to …
Egypt's minister of finance, Amr Al-Garhy
17 July 11:40 AM Egypt likely to get 3rd tranche of IMF loan between December, January
Cairo – Mubasher: Egypt expects to receive the third $2 billion tranche of the International Monetary Fund’s (IMF) $12 billion loan between December 2016 and January 2017, the minister of finance, Amr Al-Garhy, told Reuters on Monday Al-Garhy said …