Sector Reports

The stock’s lower evaluation was ascribed to the sale of MENA Cables
16 January 12:49 PM Pharos cuts Orascom Investment’s FV to EGP 0.66/shr
Cairo — Mubasher: Pharos Research has slashed its fair value (FV) of Orascom Investment Holding’s stock by 29.8% to EGP 0.66 from EGP 0.94. The stock’s lower evaluation was ascribed to the sale of MENA Cables, lack of value-accretive investments, …
The obstacles include the high financing cost of exports
15 January 05:19 PM Egypt’s CFEC eyes $6.5bn chemical exports in 2019
Cairo — Mubasher: The Egyptian Chemical and Fertilizers Export Council (CFEC) is seeking to increase exports by 20% to $6.5 billion by the end of this year. The council is to hold a meeting within days to consider addressing all troubles …
Moody's Investors Service
15 January 09:08 AM GCC M&A deals seen 'beneficial' for banking sector – Moody's
Mubasher: Merger and acquisition (M&A) activity in the GCC region, particularly in the banking sector, is seen as "beneficial" for the sector, according to Moody's Investors Service. In its newest report released on Tuesday, the ratings agency …
This price level will boost global oil investment
12 January 05:42 PM Average oil price reaches $70 pb in 2018 – Minister
Abu Dhabi – Mubasher: The average oil price in 2018 was $70 per barrel (pb), the UAE energy minister Suhail al-Mazrouei said during an industry conference. This price level will boost global oil investment, the minister added. In December, members …
Saudi non-oil sector growth drops in December– IHS Markit
10 January 01:24 PM Saudi non-oil sector growth drops in December– IHS Markit
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector growth weakened in December, reaching 54.5 points, compared to 55.2 points in the month before, a new report sponsored by Emirates NBD and produced by IHS Markit revealed. This decline …
SABIC’s sales in the domestic market reached 2.7 million tonnes
9 January 10:29 AM Petrochemicals industry generates over SAR 45bn for Saudi economy – SABIC
Riyadh – Mubasher: The petrochemicals industry generates as much as SAR 45 billion per annum for Saudi Arabia’s economy, Saudi Basic Industries Corp’s (SABIC) deputy chairman said. SABIC’s sales in the domestic market reached 2.7 million tonnes, …
CBE has enough reserves to cover the country’s imports for nine months
8 January 07:01 PM Will lower int'l reserves hurt Egypt’s exchange rates?
By: Islam Fadl Cairo – Mubasher: A group of banks operating in Egypt began to increase the USD-EGP exchange rates on Tuesday following the Central Bank of Egypt's (CBE) announcement regarding the decline in international reserves during December. …
Executive chairman at Wamda Capital Fadi Ghandour
3 January 06:33 PM 2019 to see several startup, SME exits - Investment firm official
Mubasher: The new year is expected to witness a group of exits from Middle Eastern startups and small and medium-sized enterprises (SMEs), a top investment firm official has said. In 2019 and 2020, global investors and funds will opt of from these …
The GCC nation’s GDP is expected to rise from 2.2% in 2018 to 2.4% and 2.7% in 2019 and 2020, respectively.
3 January 02:13 PM UAE’s GDP to grow to 2.4% in 2019 – NBK
Dubai – Mubasher: The UAE’s real growth of gross domestic product (GDP) is expected to see an increase in the coming two years, supported by the improvement of the non-oil sector, mainly due to increasing construction activity ahead of Dubai’s …
“Up to 1,643,095 fliers used the emirate's airports"
2 January 09:50 PM Dubai ports receive 1.8m passengers in 2018’s last week
Dubai – Mubasher: Around 1.8 million passengers have crossed Dubai ports during the last week of 2018, according to statistics issued by the General Directorate of Residency and Foreigners Affairs Dubai (DNRD). From 23 December 2018 to 1 January …
Total investments of the Emirati lenders across the globe amounted to AED 693 billion ($188.7 billion) in the January-September period of 2018
2 January 11:37 AM UAE banks invest AED 53bn in UK in 9M
Abu Dhabi — Mubasher: The UK has gotten the lion’s share of the UAE banks’ investments in the first nine months of 2018.    The UAE banks, including their subsidiaries and affiliates, invested around AED 53 billion ($14.4 billion) in the UK in the …
"“We begin the new year with an optimistic view"
1 January 07:31 PM Oil to stabilise in 2019 – Minister
Abu Dhabi – Mubasher: The global oil market is expected to stabilise during the first quarter of 2019, as OPEC’s members and a group of independent producers agreed to cut output, the UAE’s energy minister Suhail Al Mazroui said. “We begin the new …
HRDF started an initiative across the GCC country to convert its centres as a place for providing support job seekers.
1 January 04:47 PM Saudi private sector hires 38,000 employees in 2018 – Mubasher Report
Riyadh – Mubasher: The Saudi Human Resources Development Fund (HRDF) said that there were around 38,530 employees appointed in the private sector. About 27,740 males were hired, along with the appointment of 10,780 women and 891 disabled persons …
Mobile, internet penetration nears 100% in 2018 in Saudi Arabia
1 January 03:42 PM Mobile, internet penetration nears 100% in 2018 in Saudi Arabia – GASTAT
Riyadh – Mubasher: Penetration for mobile phones and the use of the internet has neared 100% among families in Saudi Arabia in 2018, data released on Tuesday showed. Mobile phone use reached 99.16% in 2018, the General Authority for Statistics …
Dubai not to reduce property registration fees
1 January 02:10 PM Dubai not to reduce property registration fees – DLD official
Dubai – Mubasher: Sultan Butti bin Mejren, director-general of the Dubai Land Department (DLD), affirmed that there were no plans to reduce the 4% real estate registration fees in Dubai. Dubai’s adopted incentive measures have a more in-depth …
Qatar’s foreign reserves jump in November to mid-2016 high
31 December 2018 01:42 PM Qatar’s foreign reserves jump in November to mid-2016 high
Mubasher: Qatar’s foreign cash reserves surged 31.07% year-on-year in November, marking their ninth monthly rise in a row and their highest level in 28 months or since July 2016. The gulf nation’s foreign reserves jumped to QAR 176.24 billion …
Property deals in Dubai recorded AED 19 billion during the last 10 days of 2018
31 December 2018 00:42 PM Dubai property deals hit AED 19bn in 10 days – DLD
Dubai – Mubasher: The Dubai Land Department (DLD) on Monday announced that the emirate's real estate market has recorded a high-transaction volume during the last 10 days of 2018. Property deals in Dubai recorded AED 19 billion ($5.17 billion) …
Points of Sale value hit SAR 210bn during 11M – SAMA
30 December 2018 07:19 PM Points of Sale value hit SAR 210bn during 11M – SAMA
Riyadh – Mubasher: The value of points of sales (POS) in Saudi Arabia increased by 16.5% or SAR 29.73 billion ($7.93 billion) year-on-year during the first eleven months, Mubasher reported, citing data from the Saudi Arabia Monetary Authority …
Japanese imports of Kuwait oil hits highest level in 7M during November
28 December 2018 03:18 PM Japanese imports of Kuwait oil hits highest level in 7M during November
Mubasher: Japanese imports of Kuwaiti crude oil surged 19.3% year-on-year during November, to 8.57 million barrels, to register its highest level in seven months. Kuwait exported around 286 barrels per day (bpd) to Japan to remain the largest …
Egyptian exports grow to $22.6bn in 11M – Minister
28 December 2018 02:29 PM Egyptian exports grow to $22.6bn in 11M – Minister
Cairo – Mubasher: Egypt’s exports increased to $22.6 billion in the first eleven months, compared to $20.4 billion during the corresponding months a year before, the Minister of Trade and Industry Amr Nassar said. The Ministry expected that the …
GCC gold sales surge 30% in 2018
26 December 2018 08:35 PM GCC gold sales surge 30% in 2018 – Mubasher Report
By: Mahmoud Gamal Dubai – Mubasher: Gold sales across the six GCC member states increased by around 10% to 30% in 2018 as families sought to buy more of the precious metal, whose prices had reached attractive price levels amid ongoing political …
The services sector is expected to flourish
26 December 2018 07:21 PM Egypt’s current account deficit to go down – Report
Cairo – Mubasher: Egypt’s current account deficit is expected to decline in tandem with the suspension of natural gas imports as of January 2019, according to a report released by Beltone Research. As for the Egyptian pound’s exchange rate, …
Kuwait’s oil is expected to see better price next year
26 December 2018 06:15 PM Kuwaiti crude oil falls 17% in 2018 - Mubasher report
By: Mohammed Farouk Mubasher: The price of Kuwaiti crude oil has seen a variety of fluctuations throughout 2018 due to many economic and political factors. In 2018, the price of Kuwaiti oil dropped by around 16.6% to $52.99 per barrel (pb), its …
Exports from Egypt to East Asia surged to EGP 41.8 billion in 2017
26 December 2018 04:06 PM Egypt’s exports to East Asia surge 126% in 2017
Cairo – Mubasher: Exports from Egypt to East Asia have increased by 126% in 2017 when compared to the prior year, according to a recent report by the Central Agency for Public Mobilization and Statistics (CAMPAS). Total exports from Egypt to …
The first seven free zones are forecast to include over 1,000 projects
26 December 2018 03:24 PM Egypt’s new free zones to create 220,000 jobs – GAFI
Cairo – Mubasher: The General Authority for Investment and Free Zones (GAFI) is currently considering the establishment of 19 new free zones, according to a statement on Wednesday. These new projects are expected to generate more than 220,000 job …