Macroeconomics

Photo Credit: Arabianeye-Reuters
2 hours ago Kuwait crude oil up 68 cents Monday – KPC
Kuwait – Mubasher: The price of Kuwait’s crude oil gained 68 cents to settle at $50.61 per barrel (pb) on Monday, compared to $49.93 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, …
(Photo Credit: Dubai Customs' statement)
3 hours ago Dubai tools, equipment 2016 trade worth AED 5bn
Dubai – Mubasher: The value of Dubai’s trade of tools and equipment in 2016 amounted to AED 5.07 billion, according to statistics released by Dubai Customs. Imported tools and equipment were valued at AED 3.6 billion in 2016, while exports and …
12:29 AM Interest hike to harm Egyptian industries - FEI
Cairo - Mubasher: The chairman of the Federation of Egyptian Industries (FEI) said that the unexpected decision to raise interest rates will worsen the suffering of the Egyptian industry. Mohamed Zaki El-Sewedy added in a statement on Monday that …
The Egyptian Ministry of Finance - (Photo Credit: Arabianeye-Reuters)
22 May 10:16 PM Egypt’s budget deficit up 7% in 9M
Cairo - Mubasher: The Egyptian Ministry of Finance (MoF) reported an increase in the total budget deficit during the first nine months of fiscal year 2016-2017 by 7.2%. The ministry said in a statement on Monday that the deficit reached EGP 273.3 …
Photo Credit: Arabianeye-Reuters
22 May 09:20 PM How $10 drop in oil prices would affect Saudi economy?
Riyadh - Mubasher: The Saudi economy is highly vulnerable to prolonged lower global oil prices, the Institute of International Finance (IIF) said in a recent report. “With still glut in the oil market and the potential of recovery in oil …
Photo Credit: Arabianeye-Reuters
22 May 06:44 PM Kuwait’s tax revenues up 56%
Kuwait - Mubasher: The Kuwaiti Ministry of Finance said that total tax revenues grew by 56% in fiscal year 2016-2017. The ministry said in a statement on Monday that tax revenues reached KWD 225.8 million compared to KWD 144.5 million in FY15/16. …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
22 May 06:34 PM Interest raise to cost Egyptian government EGP30-35bn
Cairo - Mubasher: Pharos Research projects the annual inflation rate to reach 14.2% in fiscal year 2018-2019 after the Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) decision to raise interest rates by 200 basis points. The research …
Photo Credit: Arabianeye-Reuters
22 May 04:21 PM Egyptian tourism up 49% in April - CAPMAS
Cairo - Mubasher: The Egyptian Central Agency for Public Mobilization and Statistics (CAPMAS) said that the number of tourists visiting Egypt increased in March 2017 by 48.6% year-on-year. Tourists totalled 654,900 in March compared to 440,700 …
(Photo Credit: Arabianeye-Reuters)
22 May 02:26 PM Abu Dhabi airport receives 2m passengers in April – Report
Abu Dhabi – Mubasher: Abu Dhabi International Airport witnessed a 5.6% rise in received passengers in April 2017, exceeding 2 million, compared the same month in 2016, a report by the airport said. The number of passengers reached 1.96 million in …
(Photo Credit: Arabianeye-Reuters)
22 May 12:14 PM Qatar completes first air-conditioned stadium for World Cup
Doha – Mubasher: Qatar revealed its first completed venue for the FIFA World Cup 2022, namly the Khalifa International Stadium, Arabian Business reported on Friday. The open air stadium, on which the final match of The Emir Cup already took place, …
(Photo Credit: Arabianeye-Reuters)
22 May 12:03 PM SAGO awards 3rd tender in 2017 to import 1.5m tonnes of barley
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has announced awarding its tender for importing 1.5 million tonnes of barley. The imported tonnes will come from Australia, North and South America, the European Union, and the Black Sea, …
(Photo Credit: Arabianeye-Reuters)
22 May 11:59 AM Qatar banks assets rise 2.3% April – QCB
Doha – Mubasher: The Qatar Central Bank (QCB) on Monday announced that the assets of Qatari banks inside and outside the country increased 2.3% in April 2017, compared to March. Total assets amount to QAR 1.31 trillion in April 2017, compared to …
(Photo Credit: SCAD)
22 May 11:32 AM Abu Dhabi building materials prices down in April
Abu Dhabi – Mubasher: The prices of building materials declined year-on-year in April 2017, according to a monthly report by the Statistics Centre Abu Dhabi (SCAD). On a month-on-month basis, the largest price falls were observed in construction …
(Photo Credit: Arabianeye-Reuters)
22 May 09:28 AM UAE, KSA allocate $100m to WB women entrepreneurs fund
Mubasher: The UAE and Saudi Arabia have pledged a total of $100 million to a World Bank (WB) fund that will assist female entrepreneurs and small business owners in the Middle East, The Wall Street Journal reported. “This facility has clear …
One of UAE's projects (Photo Credit: Arabianeye-Reuters)
22 May 08:27 AM Ras Al Khaimah commercial licences up in Q1
Abu Dhabi – Mubasher: The number of commercial licences in Ras Al Khaimah rose 1% year-on-year in the first quarter of 2017, according to a statement. The emirate saw 1,751 commercial licences in Q1-17, compared to 1,734 in Q1-16. Marketing …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
21 May 10:45 PM CBE raises interest rates 2%
Cairo - Mubasher: The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) has decided, in its meeting on Sunday, to raise interest rates by 200 basis points, according to an official statement. This increases the overnight deposit rate, …
(Photo archive)
21 May 04:28 PM Supply cuts extension to decrease inventories – Minister
Riyadh – Mubasher: Saudi minister of energy Khalid Al-Falih said that extending the supply cut deal until next March, and adding one or two small producers to the pact, would reduce oil inventories, Reuters reported on Sunday. "We believe that …
UAE Ministry of Finance (Photo Credit: Ministry Website)
21 May 02:43 PM UAE actual expenditures reach AED 47.60bn for 2016
Abu Dhabi – Mubasher: The UAE’s actual expenditures for federal ministries reached AED 47.60 billion for the fiscal year 2016, WAM news agency reported. Revenues amounted to AED 47.49 billion, according to the financial performance report for the …
(Photo Credit: Ministry Website)
21 May 02:38 PM UAE to launch discount campaigns worth AED 300m for Ramadan
By: Amr Adel Abu Dhabi – Mubasher: The UAE has allocated AED 300 million to support the reduction of prices of 10,000 commodities during the holy month of Ramadan, according to Hashim Saeed Al Nuaimi, the director of the Ministry’s Consumer …
Photo Credit: Arabianeye-Reuters
21 May 02:22 PM Bahrain inflation up 0.94% in April
Mubasher: The inflation rate in Bahrain rose by 0.94% in April on an annual basis, according to data issued by the Central Informatics Organisation. The consumer price index (CPI) reached 128.7 points in April 2017 as compared to 127.5 points in …
(Photo Archive)
21 May 02:05 PM Abu Dhabi, China trade reaches AED 14.4bn by end-2016
Abu Dhabi – Mubasher: The total trade volume between Abu Dhabi and China reached AED 14.4 billion by the end of 2016, according to a statement by the Abu Dhabi Department of Economic Development. China’s exports to Abu Dhabi reached AED 7.82 …
(Photo credit: Arabianeye - Reuters)
21 May 10:39 AM Egypt ready to deliver 4G frequencies to telecom firms – Minister
Cairo – Mubasher: The Egyptian Minister of Communications and Information Technology, Yasser El-Kady, said that 4G frequencies are ready to be delivered to telecom firms operating in Egypt, Reuters reported on Sunday. “We are ready now to provide …
(Photo Credit: Mubasher)
21 May 08:14 AM UAE’s Finance Ministry finalises 2018 draft budget
Abu Dhabi – Mubasher: The UAE's Ministry of Finance (MoF) completed the preparation of the draft budget for the fiscal year 2018. The draft is subject to the government’s approval after discussing it with the Finance and Economic Committee, …
Photo Credit: Arabianeye-Reuters
20 May 08:48 PM KSA to resume issuing debt instruments Q2/Q3-17
Riyadh - Mubasher: Saudi Arabia is expected to re-issue debt instruments in this quarter or the next, according to the minister of finance, Mohammed Al Jadaan. The minister added in a press conference on Saturday that addressing the budget deficit …
Photo Credit: Arabianeye-Reuters
20 May 08:24 PM Abu Dhabi’s competitiveness office renews GFCC membership
Abu Dhabi - Mubasher: Abu Dhabi Department of Economic Development’s (ADDED) Competitiveness Office of Abu Dhabi (COAD) has renewed its membership with the Global Federation of Competitiveness Councils (GFCC) and the Commercial Registration …