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Macroeconomics

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2 December 11:20 AM Spain's investments in Egypt hit $24m in Q1-20/21
Cairo - Mubasher: Spain's investments in Egypt amounted to $24.3 million in the first quarter (Q1) of fiscal year 2020/2021, up 12.5% from $21.6 million in the same quarter of 2020. The trade exchange between Egypt and Spain reached $2.1 billion …
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1 December 02:02 PM Egypt-Spain trade exchange nears EUR 2bn in 9M
Cairo – Mubasher: The trade exchange between Egypt and Spain increased by 23.8% to EUR 1.96 billion during the first nine months (9M) of 2021 from EUR 1.58 billion in 9M-20, Egypt’s Minister of Trade and Industry, Nevin Gamea, stated. Spain has …
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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
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30 November 06:15 PM Saudi Arabia forms authority for sustainable development of Red Sea economy
Riyadh- Mubasher: Saudi Arabia’s Council of Ministers approved the regulatory arrangements of the Saudi Red Sea Authority (SRSA), which will be responsible for enabling the sustainable development of the Red Sea economy for the Kingdom.  SRSA will …
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29 November 05:56 PM Saudi insurance firms’ solvency margin leaps 177% in Q3 – SAMA
Riyadh – Mubasher: The solvency margin rate of Saudi insurance companies has surged by 177.2% year-on-year (YoY) during the third quarter (Q3) of 2021, according to a report by the Saudi Central Bank (SAMA). The insurance sector registered …
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29 November 03:48 PM Egypt imports $61bn goods in 9M; Chinese products top list
Cairo – Mubasher: Egypt has imported goods and products at a total value of $61 billion during the first nine months (9M) of 2021, an increase of 16% from $52.4 billion in the same period last year. China came on top of the countries Egypt has …
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29 November 02:21 PM SEC’s subsidiary to be wholly owned by Saudi government
Riyadh – Mubasher: The ownership of the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company (SEC), will be transferred to the Saudi government upon a Cabinet’s resolution. Accordingly, SEC’s entire equity in the Saudi …
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29 November 01:52 PM Saudi banks' investments in gov’t bonds exceed SAR 474bn in October
Riyadh – Mubasher: The banks operating in Saudi Arabia have invested SAR 474.39 billion in government-issued bonds in October 2021, up 9.9% year-on-year (YoY) from SAR 431.58 billion. On a monthly basis, the banks' investment in the government's …
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29 November 01:03 PM Spending on Saudi cybersecurity market likely to hit SAR 3bn
Riyadh – Mubasher: Saudi Arabia’s cybersecurity market is expected to witness a 13% growth in spending in the coming years. Spending on the Saudi cybersecurity industry is anticipated to reach SAR 3 billion on an annual basis in line with the …
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29 November 12:55 PM Saudi government’s reserves decline 16% in October – SAMA
Riyadh – Mubasher: The Saudi government's reserves decreased by around 15.6% year-on-year (YoY) to SAR 354.638 billion in October 2021, compared to SAR 420.347 billion. On a monthly basis, the Saudi government's reserves went down by 0.3% in …
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29 November 10:44 AM CBE offers EGP 9.5bn T-bonds on Monday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Monday EGP 9.5 billion treasury bonds (T-bonds), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. With a two-year maturity period, the first tranche …
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29 November 10:27 AM UAE decreases fuel prices for December
UAE – Mubasher: The UAE's Fuel Price Follow-up Committee has announced a decrease in the fuel prices for December, ENOC said on its official Twitter account. The price of 98 Super gasoline will decline to AED 2.77 per litre in December from AED …
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28 November 07:14 PM Egypt’s exports increase 40% in 9M
Cairo – Mubasher: Egypt has exported goods worth a total of $29.7 billion during the first nine months of 2021. This marked an annual surge of 40% from $21.2 billion in the corresponding period a year ago, according to the Central Agency for …
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28 November 04:34 PM Saudi Arabia's FDI inflows hit $13.8bn in Q2-21
Riyadh - Mubasher: Saudi Arabia's foreign direct investment (FDI) inflows have recorded the highest rise since 2010 to reach $13.8 billion in the second quarter (Q2) of 2021, with the Aramco pipeline deal accounting for $12.4 billion. Saudi …
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28 November 03:43 PM Amazon partners with ADIO to establish advanced fulfillment centre
UAE - Mubasher: Amazon has partnered with the Abu Dhabi Investment Office (ADIO) to set up the region's most technologically advanced fulfillment centre in Abu Dhabi, the Abu Dhabi media office reported. The centre is in line with Amazon's …
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28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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28 November 11:34 AM Egypt auctions EGP 17.5bn T-bills on Sunday
Cairo – Mubasher: Egypt will offer treasury bills (T-bills) worth EGP 17.5 billion over two tranches on Sunday, 28 November, according to official data. The first issue amounts to EGP 3.5 billion, holding a 91-day maturity period until 1 March …
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25 November 05:56 PM Egypt’s extractive industries index up 2% in September – CAPMAS
Cairo – Mubasher: Egypt’s manufacturing and extractive industries index went up 2.2% to record a reading of 116.05 in September from 113.56 in August, according to official data on Thursday. Food products industries index increased by 4.55% to …
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25 November 01:31 PM Bosch's unit signs contract to establish industrial complex in Egypt
Cairo – Mubasher: BSH Home Appliances Group, a subsidiary of Germany's Bosch, has inked a preliminary contract with Egypt's New Urban Communities Authority to purchase two plots of land to establish an industrial complex for home appliances …
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25 November 11:28 AM CBE offers EGP 18bn T-bills on Thursday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Thursday EGP 18 billion treasury bills (T-bills), in coordination with the Ministry of Finance (MoF), to finance the budget deficit. The first tranche of the T-bills will be offered …
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25 November 11:15 AM Dubai’s real estate sales transactions exceed AED13bn in October
UAE – Mubasher: Dubai has recorded 5,352 real estate sales transactions valued at AED 13.12 billion in October 2021, marking the highest October on record for eight years, the Dubai media office reported. These figures were published in the 20th …
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25 November 11:07 AM Dubai ranks first in Arab world in PwC’s innovation index
UAE – Mubasher: Dubai has topped the Arab world in the latest innovation index issued by PwC, the Dubai media office reported. The emirate has been placed its 20th position across the world in the index, ahead of Madrid, Shanghai, and Milan. The …
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24 November 03:54 PM Egypt's textile exports exceed $1bn in 9M
Cairo – Mubasher: Egypt's textile exports increased by 28% to $1.12 billion during the first nine months of 2021, compared to around $872 million in the year-ago period, the Middle East News Agency (MENA) reported. Higher exports are driven by the …
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24 November 03:38 PM Saudi Arabia generates trade balance surplus in September, Q3
Riyadh – Mubasher: Saudi Arabia has recorded a trade balance surplus of SAR 48.82 billion in September this year, according to official data on Wednesday. The Kingdom’s trade volume, both imports and exports, amounted to SAR 140.5 billion last …
Minister of Planning and Economic Development, Hala El-Saeed
24 November 02:50 PM Egypt's economy records 9.8% growth rate in Q1-21/22
Cairo - Mubasher: Egypt has achieved an economic growth rate of 9.8% during the first quarter (Q1) of fiscal year 2021/2022, compared to 0.7% in the year-ago period, the Egyptian Minister of Planning and Economic Development, Hala El-Saeed, said. …