Sector Reports

SABIC’s net profit after Zakat and tax jumped 16.87% to SAR 21.54 billion last year
21 March 05:05 PM Tadawul-listed petrochemical firms’ profit hikes 23% in 2018
By: Thabet Shehata Riyadh – Mubasher: The petrochemical companies listed on the Saudi Stock Exchange (Tadawul) registered a 23% increase in profits during the full-year 2018, logging SAR 32.5 billion, from SAR 26.4 billion in 2017, Mubasher …
The total NAV of the REIT amounted to AED 1.9 billion ($520 million) in 2018
21 March 04:18 PM Emirates REIT portfolio hits AED 3.5bn in 2018
Dubai – Mubasher: Emirates REIT, the world's largest sharia-compliant Real Estate Investment Trust, on Thursday announced that its portfolio value reached AED 3.5 billion ($940 million) in the full-year 2018. Net asset value (NAV) recorded $1.736 …
the UAE will lead the new space organisation
21 March 12:36 PM UAE announces new 813 satellite, initiates 1st Arab Space group
Mubasher: The UAE announced the launch of satellite 813, following the country’s initiative to form the first Arab Space Coordination Group along with 11 Arab nations to develop, 813, the UAE Space Agency announced today, according to Emirates …
India is a leading market in global aviation industries
18 March 12:18 PM Over 30 airlines to take part in CONNECT MEIA
Mubasher: More than 30 airlines will participate in CONNECT Middle East, India & Africa (MEIA) which will take place in Dubai on Tuesday 30 April and Wednesday 1 May, according to a press release on Monday. Among those who registered for the …
Kuwait came in the third place for the holdings of the US treasury bonds
17 March 12:36 PM Kuwait’s holdings of US Treasuries decline 1.45% in January
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds decreased by 1.45% in January when compared to December 2018. Kuwait’s holdings of the US debt instruments declined to $40.7 billion in January from $41.3 billion last …
The UAE and Saudi Arabia will continue to be the preferred GCC destinations for European tourists
17 March 12:04 PM GCC's European visitors to hit 8.3m by 2023 - Colliers International
Mubasher: The number of European visitors to the GCC region is expected to rise 29% in the period between 2018 and 2023, on the back of new and direct flight routes, higher number of millennial and middle-class travellers and attractive air fares. …
FDI into Dubai’s AI technology exceeded $21bn from 2015 to 2018
14 March 12:31 PM US Starkey launches world’s first AI hearing device in UAE
Mubasher: The US-based Starkey Hearing Technologies has launched in the UAE the world’s first multipurpose hearing device with Artificial Intelligence (AI) technology, according to a press release on Thursday. This hearing device, specialised for …
Increased lending to the sector has coincided with the market downturn
13 March 03:56 PM UAE banks’ loan losses to grow due to real estate – Moody’s
Abu Dhabi – Mubasher: Banks operating in the UAE are expected to see a rise in loan losses over the next 12 to 18 months as the drop in real estate prices and rising interest rate reduce borrowers’ cash flow, Moody’s said in a recent report. …
European visitors to GCC to rise 29% by 2023 – Report
13 March 02:32 PM European visitors to GCC to rise 29% by 2023 – Report
Mubasher: European visitors to the GCC nations are forecast to grow 29% by 2023, recent data released on the sidelines of the Arabian Travel Market (ATM) 2019 showed. Colliers International, which is ATM’s research partner, expected that up to 8.3 …
Egypt’s telecom sector attracts $64 million FDI in H1
11 March 06:31 PM Egypt’s telecom sector attracts $64m FDI in H1
Cairo – Mubasher: Egypt’s telecommunications sector grew 17.4% in the first half of its fiscal year, data released on Monday showed. The sector attracted foreign direct investments (FDI) worth $63.8 million between July and December 2018, while …
GCC governments have had to dip into government deposits
11 March 04:39 PM M&A among strategies in GCC banking sector to enlarge benefits
Mubasher: Mergers and acquisitions (M&A) are one of the widely adopted corporate strategies that endorse the growth of an organization; however, not all mergers yield positive outcomes, according to Raghu, executive vice president (EVP) and head …
Major market growth drivers include obesity and chronic diseases
11 March 04:01 PM GCC pharma market boosted by regional aging population
Mubasher: Population in the middle east and north Africa (MENA) is expected to grow to 654 million by 2050 from 443 million, according to UN research figures, a recent press release said. Based on the UN figures, the population in the Gulf …
The move is a fresh sign for the kingdom’s strenuous efforts to curtail a supply glut and prop up oil prices
11 March 01:18 PM Saudi Arabia to slash April crude oil exports - Official
Riyadh — Mubasher: Saudi Arabia, the world's largest oil exporter, is looking to slash its crude oil exports in April to below 7 million barrels per day (bpd), along with maintaining its output “well below” 10 million-bpd threshold, a Saudi …
Dubai’s employment fell at the fastest rate since the survey began in 2010
11 March 10:45 AM Dubai’s non-oil private sector remains strong in February
Dubai – Mubasher: Dubai’s non-oil private sector economy remained strong in February, with a similar rate of January, according to a report compiled by IHS Markit for Emirates NBD PJSC. The seasonally adjusted Emirates NBD Dubai Economy Tracker …
The total trade volume between the US and the UAE recorded $21.8 billion in 2018
10 March 04:23 PM Dubai’s US FDI hits $3.9bn in 2018
Dubai – Mubasher: The US foreign direct investment (FDI) inflows to Dubai reached up to $3.9 billion in the full-year 2018, making it the emirate’s top foreign investor. The total trade volume between the US and the UAE recorded $21.8 billion …
Trade tensions between major economic powers and a global growth slowdown have dented the emirate’s trade growth
10 March 04:09 PM Dubai’s non-oil foreign trade hits AED 1.3tn in 2018
Dubai – Mubasher: Dubai’s external non-oil trade reached AED 1.3 trillion in the full-year 2018 in spite of a plethora of global challenges putting sands in the wheels of trade growth. Trade tensions between major economic powers and a global …
Oman’s gas output to beat oil’s by 2023 – Rystad Energy
7 March 06:00 PM Oman’s gas output to beat oil’s by 2023 – Rystad Energy
Mubasher: Oman’s gas production is forecast to exceed its oil output by 2023 owing to a major rise in the development of gas fields in the country, a new report by Rystad Energy has said. The sultanate’s gas output may increase to 130 million …
The Dubai Mall, one of the world's largest shopping centres, added 4 million visitors in a single year.
7 March 10:48 AM Emaar Malls CEO says Dubai retail market still strong
Dubai — Mubasher: Dubai’s retail market remains robust despite a slew of “soft” years, the CEO of Emaar Malls, a unit of Emaar Properties which operates high-end retail facilities including Dubai Mall, said. “I think it's fair to say that the last …
India will likely keep its leading position among Oman’s source markets for the coming five years.
6 March 01:23 PM Oman visitors likely to hit 3.5m by 2023
Mubasher: Oman is expected to witness more tourists between 2008 and 2023 at a compound annual growth rate (CAGR) of 5% to 3.5 million. The expected increase in tourism arrivals will be mainly supported by the growing number of Indian visitors, …
The GCC nation’s real estate price index registered 246.54 points last December
6 March 10:51 AM Qatar's real estate price index falls 2.49% in 2018
Mubasher: Qatar's real estate price index witnessed a 2.49% year-on-year decline at the end of December 2018, according to data released by Qatar Central Bank (QCB) on Wednesday. The GCC nation’s real estate price index registered 246.54 points …
Saudi non-oil private sector rises slightly in February – Emirates NBD
5 March 11:33 AM Saudi non-oil private sector rises slightly in February – Emirates NBD
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector saw a slight growth in February with a rise in new orders, according to a recent survey sponsored by Emirates NBD and produced by IHS Markit.  The seasonally adjusted Emirates NBD Saudi …
Challenging market conditions and competitive pressures led new orders to rise to the least extent since October 2016
5 March 11:16 AM UAE non-oil private sector growth marks 28M low in February
Abu Dhabi – Mubasher: The UAE’s non-oil private sector dropped to its lowest level since October 2016 in February, pressured by slower growth in new orders coupled with a steep decline in employment, a recent survey sponsored by Emirates NBD and …
Despite challenging operating conditions, businesses were upbeat towards the outlook for output in February
5 March 10:14 AM Egypt’s non-oil private sector marks 17M low in February
Cairo - Mubasher: Egypt’s non-oil private-sector growth eased in February amid moderate deterioration, marking a 17-month low. The seasonally adjusted Emirates NBD Egypt Purchasing Managers’ Index (PMI) fell to 48.2 in February from 48.5 in …
Core inflation decreased from 3.3% in 2017 to 1.9%
4 March 03:40 PM Inflation in Kuwait slightly rises in Q4-18 – NBK
Mubasher: Kuwait has registered a slight increase in inflation during the fourth quarter of 2018, a report by the National Bank of Kuwait (NBK) said. Inflation in Kuwait edged up from 0.3% in September 2018 to 0.4% by the end of Q4-18, NBK said, …
The UAE CPI recorded 109.61 points in January 2019
4 March 03:30 PM UAE inflation falls 2.4% in January
Abu Dhabi – Mubasher: The UAE's inflation decreased by 2.39% year-on-year and 0.12% month-on-month in January, according to a recent report by the Federal Competitiveness and Statistics Authority. The UAE Consumer Price Index (CPI) recorded 109.61 …