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Macroeconomics

Minister of Supply and Internal Trade, Ali El-Moselhy
15 April 03:51 PM Egypt's strategic reserve of key commodities enough for four months
Cairo – Mubasher: The Egyptian Minister of Supply and Internal Trade, Ali El-Moselhy, announced that the country’s strategic reserve of key commodities is sufficient for four to six months, the Middle East News Agency (MENA) reported on Thursday. …
The total number of passengers at Dubai airport increased by about 21.5%
15 April 02:28 PM Dubai International Airport records 6m passengers in Q1-21
UAE - Mubasher: The total number of passengers at the Dubai International Airport reached more than 5.7 million during the first quarter (Q1) of 2021, according to Dubai Civil Aviation Authority (DCAA). In March, the total number of passengers …
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
The agreement was signed on 13 August 2020
15 April 12:25 PM El-Sisi approves EUR 1.88bn loan for monorail lines
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi issued decree no. 642 of 2020 for the approval of a EUR 1.88 billion loan agreement to finance the construction of two monorail lines, the Middle East News Agency (MENA) reported on …
The WPI was higher by 0.8% on a monthly basis
15 April 11:56 AM Saudi wholesale price index up 8.7% YoY in March
Riyadh – Mubasher: Saudi Arabia’s Wholesale Price Index (WPI) for March 2021 rose 8.7% year-on-year (YoY), according to the Saudi General Authority for Statistics (GaStat). The WPI was also higher by 0.8% compared with its 7.3% reading for …
Consumer prices continue to reflect the VAT increase
15 April 11:32 AM Saudi Arabia’s inflation registers nine-month low at 4.9% in March
Riyadh – Mubasher: The consumer price index (CPI) of Saudi Arabia registered a 4.9% increase in March 2021 up from the same month last year, official data showed on Thursday. The inflation rate eased compared with its 5.2% reading in February and …
The issuance will be used to finance the country’s budget deficit
15 April 10:38 AM CBE offers EGP 17.5bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 17.5 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP …
The imported goods included wheat, sugar, legumes, and maize
14 April 03:35 PM Dekheila, Damietta ports collect EGP 2.7bn taxes, customs in March
Cairo – Mubasher: The total value of taxes, customs duties, and other charges collected at Dekheila and Damietta ports reached EGP 2.71 billion during March. The two ports collected EGP 451.94 million in taxes and customs duties for imported goods …
The UNDP Egypt Accelerator Lab is part of a global network of 91 accelerators
14 April 02:41 PM UNDP launches accelerator lab in Egypt
Cairo – Mubasher: With less than 10 years left to achieve the UN sustainable development goals (SDGs), the world is set on reimagining development, tapping into collective intelligence, to pave the way for the green, resilient, and inclusive …
The decision will be in effect for three years starting from mid-April
14 April 01:56 PM Egypt Aluminum reveals impact of anti-dumping aluminium tariffs
Cairo – Mubasher: Egypt Aluminum said that the Ministry of Trade and Industry’s decision to impose anti-dumping duty on aluminium imports will have a positive impact on the company’s results and local sales. The decision, which will be in effect …
DP World has contributed to the growth of the F&B sector in the UAE
14 April 01:51 PM UAE aims to occupy 1st position in Global Food Security Index by 2051
Mubasher: The UAE seeks to occupy the number one ranking in the Global Food Security Index by 2051 and further improve food security. This announcement was made during a webinar entitled "Agritech - Enhancing Food Security in the UAE" and …
The pandemic has not stopped people from doing in-store shopping
14 April 12:25 PM Over half of UAE residents to depend on online shopping, delivery services - Report
UAE - Mubasher: More than half of UAE residents will depend on online shopping and delivery services in the future after the coronavirus (COVID-19) ends, according to YouGov’s 2021 Fast-Moving Consumer Goods (FMCG) report. YouGov’s report …
The UAE has been ranked first in MENA in US News rankings
14 April 11:40 AM UAE tops world's best up-and-coming economies in 2021 US News rankings
UAE - Mubasher: The UAE has topped the world's countries in the 'Movers' subranking, which evaluates up-and-coming economies, for the third consecutive year, with an overall score of 100, according to the 2021 US News Best Countries rankings. …
The project has a planned annual capacity of 100,000 tonnes
14 April 11:29 AM Egypt to build $100m bioethanol project in Damietta
Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced the construction of a new bioethanol project at Damietta Port with an investment cost of $100 million. The project has a planned annual capacity …
The Chamber provides 50 smart services to Dubai's business community
14 April 09:41 AM Dubai Chamber adopts 100% smart transformation of basic services
UAE - Mubasher: Dubai Chamber of Commerce and Industry has adopted 100% smart transformation of its basic services, which is in line with the Chamber's digital transformation strategy. Around 99.26% of services and 659,000 transactions in the …
Minister of Petroleum and Mineral Resources, Tarek El-Molla
13 April 03:52 PM Petroleum sector contributes 24% to Egypt's GDP
Cairo – Mubasher: Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, said that the legal and legislative reforms carried out since 2014 have managed to rebalance and stabilise the sector amid the challenges that impacted …
Online shopping has become more of a long-term behavior change
13 April 03:18 PM Online shopping in KSA, UAE likely to grow during Ramadan – Report
Riyadh – Mubasher: A greater surge in online shopping is expected to be witnessed during the month of Ramadan, which has just started today on 13 April, a recent survey Checkout.com unveiled. Online spending by consumers in the UAE and Saudi …
Minister of Agriculture and Land Reclamation, El-Sayed El-Qusair
13 April 03:00 PM South Sudan agrees to import poultry from Egypt
Cairo – Mubasher: Egypt’s Minister of Agriculture and Land Reclamation, El-Sayed El-Qusair, said that South Sudan’s First Vice President, Riek Machar, approved importing poultry from Egypt, according to a statement on Tuesday. El-Qusair visited …
The country aims to build about 3,000 dual EV stations
13 April 02:30 PM Egypt to start manufacturing Nasr E70 cars by mid-2022
Cairo – Mubasher: Egypt has assigned a committee to determine locations for setting up electric vehicle (EV) charging stations in Giza, the Minister of Public Business Sector, Hisham Tawfik, said. Afterwards, the committee will choose locations of …
The decision will be in effect for three years
13 April 01:33 PM Egypt imposes anti-dumping duty on aluminium imports
Cairo – Mubasher: The Egyptian Minister of Trade and Industry, Nevine Gamea, issued a decision to impose anti-dumping duty on imports of aluminium products. The decision will be in effect for three years starting from mid-April, Gamea said in a …
This move will support the transition to digital payments in the country
13 April 12:01 PM Amazon Payment Services cancels service fees for MSMEs in Egypt
Cairo – Mubasher: Amazon Payment Services announced that it will waive all fees for new businesses wishing to use its digital payment services in Egypt. This move will support a recent initiative launched by the Central Bank of Egypt (CBE) to …
Net flows of FDI to Egypt declined by 32.3% to $3.4 billion
13 April 11:01 AM Egypt's BoP records $1.5bn surplus in H2-20 – CBE
Cairo – Mubasher: Egypt’s balance of payments (BoP) posted an overall surplus of $1.5 billion during the second half (H2) of 2020, compared to a deficit of $9 billion in H1-20 and a surplus of $410.9 million in H2-19, according to data by the …
These inflows of FDI have created around 18,325 new jobs
13 April 10:04 AM Dubai attracts 455 FDI projects in 2020
UAE - Mubasher: Dubai has attracted 455 foreign direct investment (FDI) projects at a total value of AED 24.7 billion during 2020, the Dubai media office reported. In 2020, the number of FDI projects in Dubai has exceeded the annual average of 441 …
The imported goods included wheat, legumes, and maize
12 April 04:12 PM Alexandria Port collects EGP 7.6bn in customs duties, taxes in March
Cairo – Mubasher: Alexandria Customs collected EGP 7.651 billion in customs duties, taxes, and other charges during March. The total value of taxes and customs duties collected for imported goods at Alexandria port stood at EGP 2.043 billion …
Egypt has 34 projects, worth $3.3 billion, to achieve the targets of gender equality
12 April 03:58 PM Women representation in Egypt's Parliament reaches 25% - El-Mashat
Cairo – Mubasher: The Minister of International Cooperation, Rania El-Mashat, discussed the role of women in the business sphere in J.P. Morgan’s “Women in Leadership Engagement Session” on 29 March. “I was raised to be gender blind. The dilemma …