Macroeconomics

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21 June 08:33 PM Investcorp examines credit market landscape, opportunities
Mubasher: Investcorp released on Thursday a white paper on the six credit-related strategies that may help deliver value in today’s market environment, under the title “Opportunities in Credit”. The research paper examines United States …
The Egyptian Prime Minister Mostafa Madbouli
21 June 08:27 PM Egypt’s new PM discusses economic reforms
Cairo - Mubasher: The Egyptian Prime Minister Mostafa Madbouli has discussed with finance minister Amr El-Garhy the plans to reform the tax system. The PM also discussed the monetary policy and economic reforms in a separate meeting with the …
The gas-rich nation does not have an immediate plan for this move
21 June 05:04 PM Qatar to increase stake in Russian Rosneft
Mubasher: Qatar is weighing up raising its stake in Russia's largest oil producer Rosneft, Faisal Alsuwaidi, member of the board of directors of Rosneft, has said on Thursday. The gas-rich nation does not have an immediate plan for this move, …
UAE’s real GDP growth is expected to hit 1.9% in 2018
21 June 04:28 PM UAE’s non-oil sector likely to improve in 2019 – BofAML
Mubasher: The UAE’s non-oil sector is expected to be bottomed out in 2019 in line with a series of reforms intended to boost the economy, as reported by Gulf Business, according to Bank of America Merrill Lynch (BofAML). “The lender said Expo 2020 …
Total implemented investments rose by 48% in the July-December period of FY17/18
21 June 03:08 PM Private investments in Egypt hit EGP 184.4bn in H1-17/18
Cairo – Mubasher: Private investments in Egypt grew by 54% year-on-year in the first half of fiscal year 2017/2018, recording EGP184.4 billion from EGP 119.9 billion. Total implemented investments rose by 48% in the July-December period of …
Nearly 1,784 companies were established in May 2018
21 June 02:19 PM Egypt sees 1,784 new firms in May
Cairo – Mubasher: The number of new firms in Egypt rose by 7% year-on-year during last May, data by the Egyptian investment ministry showed. Nearly 1,784 companies were established in May, compared to 1,637 companies in the same month a year …
NBE would exit from the company in order to comply with regulations
21 June 01:48 PM NBE mulls selling stake in SCCT
Cairo – Mubasher: National Bank of Egypt (NBE) is considering to sell its 5% stake in Suez Canal Container Terminal (SCCT). Egypt's largest state lender would exit from the company in order to comply with regulations forcing banks to exit most of …
German investments in Egypt amount to $641 million now
21 June 01:27 PM Egypt-Germany bilateral trade hits EUR 5.8bn in 2017 - Minister
Cairo – Mubasher: Trade exchange between Egypt and Germany rose by 5% in 2017 to reach EUR 5.8 billion, compared to EUR 5.56 billion in 2016. German investments in Egypt amount to $641 million now over 1,080 projects in the fields of industry, …
Investors tend to collect profits hastily
21 June 01:19 PM Why UAE markets shrug off incentives?!
By: Bedour Al Raee and Enas Bahgat Abu Dhabi – Mubasher: The UAE stock markets have been seeing a negative trend despite the strong incentives in the country including an AED 50 billion ($13.6 billion) investment package announced by the Emirate …
The government investments in FY17/18 budget amount to EGP 70 billion
21 June 12:04 PM Egypt gov't to invest EGP 100bn in FY18/19
Cairo – Mubasher: The Egyptian government is planning to pump EGP 100 billion worth of investments in fiscal year 2018/2019, including EGP 3 billion to upgrade industrial zones. The government's investments in FY17/18 budget amounted to EGP 70 …
CBE plans to launch a fund to finance small- and medium-sized enterprises
21 June 11:39 AM CBE to launch fund to finance SMEs
Cairo – Mubasher: The Central Bank of Egypt (CBE) plans to launch a fund to finance small- and medium-sized enterprises (SMEs). This comes in light of expectations that the EGP 200 billion allocated to finance projects of this initiative will run …
US oil output totalled 10.9 million bpd
21 June 10:01 AM Kuwait’s crude oil adds 63 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 63 cents to settle at $71.45 per barrel (pb) on Wednesday compared to $70.82 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
The new fund will be very beneficial to many young refugees affected by wars residing in the UAE
21 June 09:54 AM UAE's Al Ghurair launches AED 100m education fund for refugees
Dubai – Mubasher: Emirati businessman Abdul Aziz Al Ghurair announced that he has launched an AED 100 million ($27 million) education fund for refugees under the name of “The Abdul Aziz Al Ghurair Refugee Education Fund”. The new fund will be very …
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20 June 06:26 PM Egypt says will not adopt smart fuel cards
Cairo - Mubasher: The Egyptian minister of petroleum said that the government will not apply the smart card system in gasoline distribution. Many loopholes could allow the card to be a tool that creates two prices for the same commodities, as well …
Oman came first in terms of retail sector imports
20 June 06:08 PM 5 countries contribute 47% of Abu Dhabi's imports in Q1
Abu Dhabi – Mubasher: Five countries provided 46.6% of Abu Dhabi’s total imports in the first quarter of 2018, which recorded AED 26.3 billion; Japan, Saudi Arabia, the US, India, and China. Oman came first in terms of retail sector imports, …
The two Qatari banks may reveal their consolidation deal next week
20 June 05:23 PM Barwa Bank, IBQ hold merger talks
Mubasher: Barwa Bank and International Bank of Qatar (IBQ) are in advanced talks to merge after discussions for a three-way merger with Masraf Al Rayan collapsed last week. The two Qatari banks may reveal their consolidation deal next week, …
The bilateral trade between the two countries increased up to $1 billion
20 June 04:25 PM Qatar - Pakistan bilateral trade hits $1bn
Mubasher: Trade exchange between Qatar and Pakistan doubled 5 times over the past 4 years. The bilateral trade between the two countries increased up to $1 billion, from $200 million, ambassador of Pakistan in Qatar Shahzad Ahmad said. Pakistan’s …
The reforms included Bahrain FinTech ecosystem
20 June 04:11 PM Bahrain’s FDI surges 114% on reforms
Mubasher: Foreign direct investment (FDI) inflows to Bahrain have increased by 114% in 2017, according to recent data released by the United Nations Conference on Trade and Development (UNCTAD). This surge registered the fastest growth rate across …
The cigarettes and tobacco basket topped five gainers
20 June 03:36 PM Kuwait’s inflation rises 0.36% in May
Mubasher: The inflation in Kuwait increased by 0.36% in May 2018 when compared to the same month a year ago. The consumer price index (CPI) in Kuwait registered 112.6 points in May 2018, up 0.09% when compared to April. In May 2018, the cigarettes …
Exports recorded 3.16 million tonnes during the eight-month period of FY17/18
20 June 02:42 PM Egypt’s agricultural exports rise 13% in 8M - Report
Cairo – Mubasher: Egypt’s agricultural exports rose by 13% year-on-year in the September-April period of fiscal year 2017/2018, a report issued by the Agriculture Export Council showed. Exports recorded 3.16 million tonnes during the eight-month …
Dividends' total value amounted to QAR 23.3 billion
20 June 02:16 PM QSE’s dividends hit QAR 23.3bn in 2017
Mubasher: Cash dividends of the Qatar Stock Exchange's (QSE) listed firms rose 20% for the fiscal year ended 31 March 2018, according to the bourse’s recent statement. Dividends' total value amounted to QAR 23.3 billion in the previous year, the …
Egyptian imports from the US rose 81.9% to EGP 69.1 billion in 2017
20 June 02:07 PM Egypt’s exports to US soars 105% in 2017 - CAPMAS
Cairo – Mubasher: The value of Egyptian exports to the US rose 105.5% year-on-year in 2017, recording EGP 23.6 billion from EGP 11.5 billion. Exports to the US made up 5.1% of Egypt’s total exports, according to data released by the Central Agency …
The loan facility will be paid officially within the next two months
20 June 01:17 PM EBRD to grant Egypt EUR 200m loan for Cairo Metro development
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) will grant Egypt an EUR 200 million facility to develop the Cairo Metro line 1 as of 18 July. The loan will be paid officially within the next two months, assistant …
The launching of the first ETF aimed at enhancing the market’s performance
20 June 01:16 PM QSE to launch further ETFs – CEO
Mubasher: Rashid Al Mansoori, CEO of the Qatar Stock Exchange (QSE), on Wednesday has said that the bourse plans to launch a number of exchange traded funds (ETFs) in a bid to attract further local and foreign investments. The launching of the …
The US topped the list with more than 5 million millionaires in 2017
20 June 01:08 PM Kuwait has 174,000 millionaires in 2017 – Report
Mubasher: Kuwait was ranked the 17th worldwide in terms of the world’s wealthiest countries in 2017, according to the recent World Wealth Report 2018, as reported by Alrai Newspaper. The report said that Kuwait had about 174,000 millionaires in …