Macroeconomics

The revival of the tourism sector is also another large contributor to employment
3 hours ago Growth towards new cities in Egypt is inevitable – JLL
Cairo – Mubasher: The Egyptian government has pumped approximately EGP 200.7 billion worth of investment in the implementation of projects in the new cities being established across the country, while the private sector has invested nearly EGP 400 …
Saudi German Hospital has no shareholding in this hospital
3 hours ago Saudi German Hospital manages new facility in Ajman
UAE – Mubasher: Middle East Healthcare Company (Saudi German Hospital) on Sunday announced that it has opened a new facility at the emirate of Ajman, the UAE, according to a filing to the Saudi Stock Exchange (Tadawul). The new hospital, owned by …
The event seeks to create a more favorable tax environment for enterprises
3 hours ago UAE elected as new vice chairman in China’s BRITACOM forum
UAE – Mubasher: The UAE has been elected as a vice chairman of the Belt And Road Initiative Tax Administration Cooperation Forum (BRITACOM), which took place in China during the period between 18 April and 20 April. Khalid Ali Al Bustani, chairman …
The QR Code is an easy and safe way to conduct and accept e-payment
3 hours ago Eight banks approach CBE to get QR Code licences
By: Elam Fadl Cairo – Mubasher: Eight banks have approached the Central Bank of Egypt (CBE) to obtain a licence for introducing the QR Code technology, banking sources told Mubasher. These lenders include the National Bank of Egypt (NBE), Banque …
The deal is expected to be sealed with the government ahead of end-April
4 hours ago El-Attal Holding seeks gov’t partnership to expand outside Cairo
By: Abdullah Bedeir Cairo – Mubasher: El-Attal Holding is currently in talks with the Egyptian government to build social housing units outside Cairo, the company’s chairman said. The real estate firm is negotiating with state-run entities to …
The number of rich migrants in the UAE increased by 2% in 2018
4 hours ago UAE welcomes over 2,000 millionaires in 2018 – Report
UAE – Mubasher: The UAE attracted more than 2,000 millionaires from outside the GCC country, each with at least $1 million worth of net assets, during the full-year 2018, according to a report released by AfrAsia Bank and New World Wealth. The …
Egypt is keen on coordinating with the Chinese company in AI
4 hours ago China’s Huawei to trial 5G network in Egypt next June
Cairo – Mubasher: China-based Huawei Technologies Company Ltd. will launch the first 5G network services trial in Egypt at the Cairo International Stadium during the period of hosting the 2019 Africa Cup of Nations, the Egyptian telecommunication …
The project’s total cost amounted to AED 280.7 million
4 hours ago Musanada completes ‘Z35 Project’ road, infrastructure works
UAE – Mubasher: Abu Dhabi General Services Company (Musanada) unveiled the completion of the “Z35 Roads and Infrastructure Project” at Mohamed bin Zayed City in Abu Dhabi, state-run news agency WAM stated. The project’s total cost amounted to AED …
UAEPASS comes along with the UAE’s strategy for comprehensive digital transformation
4 hours ago Smart Dubai completes 1st phase of UAEPASS Initiative
UAE – Mubasher: Smart Dubai, in collaboration with the Telecommunication Regulatory Authority (TRA), announced the completion of the first phase of the UAEPASS initiative, a nation-wide programme for digital identity, a recent statement said. The …
Kuwait’s bank credit increased by 5.3% to as much as KWD 37.1 billion in February
02:00 PM Kuwait’s bank deposits grow 2.3% YoY in February – C.bank
Mubasher: Deposits at banks operating in Kuwait rose 2.3% year-on-year, or KWD 972.1 million, to KWD 42.8 billion in February, Kuwait Finance House (KFH) reported, citing data from the Central Bank of Kuwait (CBK). Kuwait’s bank credit increased …
Bahrain’s inflation rate increased by 1.2% in Q1-19
01:52 PM Bahrain’s inflation grows 1.2% in March – IGA
Mubasher: Bahrain’s inflation rate rose 1.2% year-on-year in March, data released by Information and e-Government Authority (IGA) showed. Month-on-month, the GCC nation’s consumer price index (CPI) inched up 0.8% to 133.7 points, compared to 132.6 …
The central bank will issue around 5,000 silver commemorative coins
01:51 PM UAE C.bank to reissue “Year of Zayed” coins on Monday
UAE – Mubasher: The Central Bank of the UAE has decided to reissue “Year of Zayed” commemorative silver coins to meet the increasing demand. The central bank will issue around 5,000 silver commemorative coins weighing 60 grammes, according to the …
The CCI stood at 140 points by the end of March
01:13 PM Dubai consumer confidence index hits highest since 2017
UAE – Mubasher: Dubai’s consumer confidence index (CCI) hiked in the first quarter of 2019, marking the highest level since the fourth quarter of 2017, according to recent data released by the department of economic development (DED), Dubai …
Egyptian trade and industry minister Amr Nassar
12:39 PM Egypt maintains tariff on raw leather exports for 12M
Cairo – Mubasher: Egyptian trade and industry minister Amr Nassar has issued a decree to maintain the tariff imposed on raw leather exports for a year as of 2 May. The ministerial decree No. 631 for 2017 stipulates that raw leather would be …
This deal boosts Egypt Vision 2030 Sustainable Development Strategy
12:19 PM Gov’t partners with VMware to help young Egyptians secure ICT jobs
Cairo – Mubasher: The US-based VMware and Egypt’s Information Technology Institute (ITI), an affiliate of the communications and information technology ministry (MCIT), have signed a collaboration agreement to develop and broaden information and …
The Chinese delegation comprised as much as 140 investors
12:11 PM Sharjah FDI offers investment opportunities for Chinese investors
UAE – Mubasher: The Sharjah FDI Office (Invest in Sharjah), in collaboration with the Chinese Business Council, has organised the Sharjah–China “Belt & Road” at the Sharjah Chamber of Commerce and Industry (SCCI). Lei JIN, economic and commercial …
Rents and property prices have decreased the most in Q1-19
11:47 AM Over 20,000 units likely to enter Dubai market in 2019
Dubai – Mubasher: The real estate sector in Dubai has witnessed more than 20,000 units entering the market during 2018, head of consulting at Chestertons MENA Ivana Vucinic said, according to TimeOut Dubai. The new units have resulted in a …
Egyptian housing minister Assem El-Gazzar
11:47 AM Egypt’s housing ministry to build EGP 500bn projects
Cairo – Mubasher: The Egyptian New Urban Communities Authority has agreed to implement various development and services projects over 113 land plots spanning around 2,530 feddans in 24 new cities, the housing minister said on Sunday. The projects …
Kuwait’s oil revenues reached KWD 17.8 million from April 2018 until last March
11:16 AM Kuwait to log KWD 20bn revenues in FY18/19 budget
Mubasher: Kuwait is expected to generate around KWD 20 billion revenues in fiscal year 2018/2019 budget, informed sources told Al Rai newspaper. The GCC nation’s oil revenues reached KWD 17.8 million from April 2018 until last March, while non-oil …
The issuance will be used to finance the budget deficit
10:20 AM CBE issues EGP 17.2bn in T-bills Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 17.2 billion on Sunday, on behalf of the Ministry of Finance (MOF). The first tranche of the T-bills will be offered through 91-day notes at EGP 8.5 …
Sales of residential properties stood at KWD 110 million
20 April 09:45 PM Property sales in Kuwait rise 16% in February
Mubasher: Property sales in Kuwait increased by 16% in February, recording KWD 284 million ($933 million), according to a report released by National Bank of Kuwait (NBK) on Saturday. Such increase resulted after commercial property sales went up …
The agriculture sector includes around 5.5 million workers
20 April 03:33 PM Agriculture contributes 6.3% to Egypt’s economic growth in 3M
Cairo – Mubasher: The Egyptian agriculture sector has contributed to 6.3% of the economic growth in the third quarter of the fiscal year 2018/2019, compared to 5.7% in the year-ago period, planning minister Hala El Said announced on Saturday. The …
Planning ministry released the figure in an infographic
19 April 10:58 PM Egypt targets EGP 6.3trln GDP in FY19/20
Cairo – Mubasher: The Egyptian government is targeting a GDP of EGP 6.3 trillion ($366.56 billion) at current prices in the fiscal year 2019/2020. The Minister of Planning, Follow-up, and Administrative Reform released the targeted GDP on Friday, …
El Maasara for Engineering Industries will produce smart gas metering systems
18 April 06:08 PM Egypt’s military production authority, EGAS ink cooperation deal
Cairo – Mubasher: Egypt’s National Authority for Military Production has signed a protocol of cooperation with the Egyptian Natural Gas Holding Company (EGAS). Under the deal, El Maasara for Engineering Industries, subsidiary of the Ministry of …
Chairman of Banque Du Caire Tarek Fayed
18 April 05:23 PM Banque Du Caire eyes issuing 650,000 cards in 2019 – Fayed
Cairo – Mubasher: Banque Du Caire plans to issue around 650,000 cards in 2019, including 450,000 Miza pre-paid cards, the chairman of the state-run lender said on Thursday. The bank, which is fully owned by Banque Misr— Egypt’s second largest …