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Macroeconomics

The net FDI increased by 12.87%
01:05 PM Saudi FDI amounts to SAR 885.62bn in 2019
By: El-Sayed Gamal  Riyadh – Mubasher: The foreign direct investments (FDI) of Saudi Arabia grew by 1.97% year-on-year (YoY) or SAR 17.11 billion ($4.56 billion) in 2019 when compared to 2018. The kingdom's FDI reached SAR 885.62 billion ($236.17 …
Global crude prices plunged by more than 54% on Tuesday
11:16 AM Kuwait’s crude oil up $1.37 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.37 on Tuesday, 31 March, to settle at $25.7 per barrel (pb), compared with $24.33 pb last Monday, according to official prices released by the Kuwait Petroleum Corporation (KPC). At the …
The money supply increased to EGP 1.004 trillion
11:10 AM Egypt’s local liquidity rises to EGP 4.2trn in February
Cairo – Mubasher: Egypt’s local liquidity continued its upward trend that started with the flotation of the Egyptian pound exchange rate in November 2016. The North African nation’s local liquidity amounted to EGP 4.187 trillion in February, …
Tharwa drilled eight exploratory and development wells in 2019
31 March 04:07 PM Tharwa Petroleum seeks to acquire 6 concession areas in 2020
Cairo – Mubasher: Tharwa Petroleum Company is looking to obtain six concession areas in 2020 and enter into partnerships with major companies, including Total, ExxonMobil, Chevron, BP, and Shell, the company’s chairman Amr El-Leithy said. The …
Japan’s crude imports decreased by 3.8% annually in February
31 March 12:34 PM Kuwait’s crude oil exports to Japan hit 3 month-low
Mubasher: Kuwait’s crude oil exports to Japan fell by 8% in February 2020 for the first time in three months, Japan’s Natural Resources and Energy Agency said in a preliminary report on Tuesday. Japan’s total oil imports from Kuwait stood at 7.5 …
Global oil prices fell to an 18-year low on Monday
31 March 11:49 AM Kuwait’s crude oil down $1.93 pb on Monday – KPC
Mubasher: The price of Kuwait’s crude oil price registered $24.33 per barrel (pb) on Monday, 30 March, down by $1.93 when compared to $26.26 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the …
Egypt's BoP posted an overall surplus of $410.9 million
31 March 11:25 AM Egypt’s Suez Canal receipts hit $3bn in H1-19/20
Cairo – Mubasher: Egypt’s receipts from Suez Canal increased to $3 billion during the first half of fiscal year 2019/2020, compared to $2.9 billion in the year-ago period, according to data released by the Central Bank of Egypt (CBE) on Monday. …
Egypt's BoP posted an overall surplus of $410.9 million
31 March 11:05 AM Egypt’s tourism revenues rise to $7.2bn in H1-19/20
Cairo – Mubasher: Egypt’s tourism revenues rose by $459.7 million or 6% year-on-year to $7.2 billion in the first half of fiscal year 2019/2020, compared to $6.79 billion, according to data released by the Central Bank of Egypt (CBE). Meanwhile, …
The current accounts’ deficit shrank by $684.4 million
30 March 06:27 PM Egypt's BoP records $410.9m surplus in H1-19/20
Cairo – Mubasher: Egypt’s balance of payments (BoP) achieved an overall surplus of $410.9 million during the first half of fiscal year 2019/2020, compared to an overall deficit of $1.8 billion in the yea-ago period, official data showed. The …
The oil price was set at $61 per barrel
30 March 06:01 PM Egypt sets average USD rate, oil barrel price in 20/21 budget
Cairo – Mubasher: The Egyptian finance minister Mohamed Maait announced the average US dollar exchange rate and oil barrel price in the country’s draft budget for fiscal year 2020/2021. The USD exchange rate was set after considering the average …
The budget allocates EGP 95.7 billion to the health sector
30 March 05:24 PM Egypt targets 6.3% budget deficit in FY20/21
Cairo – Mubasher: The Egyptian finance minister Mohamed Maait reviewed the items of the state budget for fiscal year 2020/2021. The FY20/21 budget shows expenditures of EGP 1.71 trillion and revenues of EGP 1.3 trillion, Maait added in a statement …
Foreign currency derivatives balance jumped to AED 797.2 billion in February
29 March 02:01 PM UAE banks' guarantee letters, credit facilities hit AED 4.5trn in February
UAE – Mubasher: The total cumulative balance of letters of guarantee and credit, liabilities, and other credit facilities at the Central Bank of the UAE (CBUAE) grew by 4.3% month-on-month (MoM) or AED 86 billion in February 2020. The balance …
S&P has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA'
29 March 12:03 PM S&P affirms Abu Dhabi's credit rating; stable outlook
Abu Dhabi – Mubasher: S&P Global Rating has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA' and the short-term foreign and domestic currency rating at  'A-1+', with a stable outlook. S&P Global Rating expected that Abu Dhabi's …
The package includes postponing the rent period for up to six months
29 March 10:07 AM Dubai adopts economic stimulus package for companies in free zones
Dubai – Mubasher: Dubai has launched the second economic stimulus package to support companies at Dubai Free Zones and mitigate the effects of the current economic situation, namely for small and medium-sized enterprises (SMEs), according to Dubai …
Saudi General Authority for Statistics (GaStat)
28 March 08:49 PM KSA's GaStat board appoints new president
Riyadh – Mubasher: The board of the Saudi General Authority for Statistics (GaStat), chaired by the acting Minister of Economy and Planning Mohammed bin Abdullah Al Jadaan, has decided to appoint Konrad Pesendorfer as President of the authority. …
Kuwaiti crude settled at $27.81 per barrel (pb) on Thursday
27 March 03:27 PM Kuwait oil down to $27.8 pb
Mubasher: The price of Kuwait oil decreased by $1.13 on Thursday, Kuwait News Agency (KUNA) reported. Kuwaiti crude settled at $27.81 per barrel (pb) yesterday, compared with its level on Wednesday’s close at $28.94, according to the Kuwait …
Standard and Poor's (S&P)
27 March 03:13 PM S&P lowers Kuwait rating to AA-, outlook stable
Mubasher: Standard and Poor's (S&P) has lowered Kuwait's long-term foreign and local-currency sovereign credit ratings to (AA-) from (AA), Kuwait News Agency (KUNA) reported "The oil price drop is happening alongside Kuwait's slow reform momentum, …
Hala El-Saeed, Minister of Planning, Monitoring, and Administrative Reform
26 March 05:11 PM Egypt estimates economic impacts of COVID-19
Cairo – Mubasher: The Egyptian government expects an increase in inflation if the global crisis of the coronavirus (COVID-19) persists the end of the year. If the outbreak continues until December 2020, inflation in Egypt is expected to reach …
The economy is expected to increase to 5.1%
26 March 04:42 PM Egyptian gov't investment at EGP 90.9 billion in 8M - Minister
Cairo - Mubasher: The Egyptian government's total investments from July 2019 to February 2020 grew by 12% to EGP 90.9 billion, when compared to the year-ago period, Egypt's minister of planning and administrative reform Hala El-Saeed said. This …
Egypt plans to invest in upgrading the signalling system of railroad tracks
26 March 12:34 PM Egypt seeks to invest EGP 37bn in railroad safety
Cairo – Mubasher: Egypt is planning to implement projects worth EGP 37 billion to modernise the signalling system along 1,869 kilometres (km) of railroad tracks, Egypt's transport minister Kamel El-Wazir announced on Thursday. El-Wazir noted that …
The company's contribution to UAE economy amounted to AED 36.9 billion since 2005
26 March 10:25 AM ADNEC contributes AED 4.9bn to UAE economy in 2019
Abu Dhabi – Mubasher: The Abu Dhabi National Exhibition Centre (ADNEC) company has contributed AED 4.9 billion to the UAE economy during 2019, up by 46% when compared to 2018, according to the Emirates News Agency (WAM). Therefore, the company's …
EGP 2.58 billion were directed to the Ministry of Health
25 March 07:34 PM Egypt directs EGP 3.8bn to healthcare against COVID-19
Cairo – Mubasher: The Egyptian Ministry of Finance has dedicated EGP 3.8 billion to support the healthcare sector since the beginning of March, in line with the government’s efforts to combat the outbreak of the coronavirus (COVID-19), minister …
The index increased by 0.2% on a monthly basis
25 March 07:03 PM Saudi wholesale prices up 4.5% in February
Riyadh – Mubasher: The Wholesale Price Index (WPI) in Saudi Arabia recorded a 4.5% annual increase in February 2020. The increase was mainly due to higher prices of metal products, machinery, and equipment by 6.8%, as well as a 4.9% rise in the …
February saw the highest rise in inflation since the end of 2018
25 March 01:48 PM Inflation in KSA up 1.2% in February – GaStat
Riyadh – Mubasher: The Saudi Consumer Price Index (CPI) increased by 1.2% in February 2020 on a yearly basis, after rising by 0.4% in January, registering its highest level since December 2018. The food and beverage and transport groups …
Brent futures inched up by 12 cents on Tuesday
25 March 12:16 PM Kuwait’s crude oil rises to $27.97 pb Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil went up by $1.86 on Tuesday, 24 March, to finish at $27.97 per barrel (pb) from $26.11 pb on Monday, according to the official prices of the Kuwait Petroleum Corporation (KPC). Globally, crude prices …