Sector Reports

The new PT is 14.4% lower than the current market price
15 November 05:40 PM QNB keeps Commercial Bank of Qatar's PT at QAR 35/shr
Mubasher: Qatar National Bank (QNB) on Thursday announced maintaining the price target (PT) for the Commercial Bank of Qatar (CBQ) at QAR 35 per share. The new PT is 14.4% lower than the share's current market price, as CBQ’s stock ended Thursday …
Photo Archive
14 November 08:21 PM Egypt considers new duties on car sales
Mubasher: Egypt could soon introduce a new development fee on car sales, Enterprise first reported. The Ministry of Finance (MoF) is discussing the matter with the Ministry of Trade and Industry, as the new toll is expected to be at 10% or 20%, …
Fujairah is considered the world’s second largest bunkering hub.
14 November 03:42 PM UAE’s BPGIC projects to improve oil sector – OPEC's Barkindo
Abu Dhabi – Mubasher: The UAE-based Brooge Petroleum and Gas Investment Company (BPGIC) is implementing mega oil projects that are expected to boost the country’s oil sector over the next period, the Organization of the Petroleum Exporting …
Qatar’s IPI falls 2.6% in September
14 November 03:25 PM Qatar’s IPI falls 2.6% in September – MDPS
Mubasher: Qatar’s industrial production index (IPI) declined 2.6% year-on-year to 108.8 points in September, the Ministry of Development Planning and Statistics (MDPS) said in a statement released on Wednesday. The manufacturing index of the …
Qatar’s output reached 609,000 bpd in October
13 November 05:31 PM Qatar’s oil output reaches 609,000 bpd in October – OPEC
Mubasher: Qatar raised its oil production by 14,000 barrel per day (bpd) during October, against the Organization of the Petroleum Exporting Countries’ (OPEC) supply cut decision. Qatar’s output reached 609,000 bpd in October, compared to 595,000 …
The kingdom’s growth is expected to reach 2.2% in 2018
13 November 04:05 PM KSA tops GCC in economic improvement on higher oil price – IMF
Mubasher: The Gulf states, headed by Saudi Arabia, registered an improvement in economy during 2018, director of the Middle East and Central Asia Department of the IMF said in a recent report. Saudi Arabia has topped the GCC nations in economic …
Egypt’s leather exports fall 10% in 9M to $80m
12 November 07:12 PM Egypt’s leather exports fall 10% in 9M to $80m
Cairo – Mubasher: Egypt’s exports of leather and its products decreased by 10% year-on-year in the period from January to September 2018, data released by General Organization for Export and Import Control (GOEIC). Egypt’s leather exports amounted …
The real estate firms posted a net profit of SAR 457.41 million ($121.95 million) after calculating Zakat and Tax in Q3-18
12 November 03:34 PM Saudi real estate firms turn profitable in Q3
By: Elsayed Gamal Riyadh – Mubasher: Companies listed on the Saudi Stock Exchange’s (Tadawul) real estate management and development sector turned a profit during the third quarter of 2018, against suffering losses in the year-ago period. The real …
The gap between supply and demand in the oil market is expected to increase during the next year
12 November 02:04 PM OPEC is able to achieve oil market needs – Barkindo
Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) is able to achieve oil market needs over the coming period, secretary general Mohammed Barkindo said on the sidelines of Abu Dhabi International Petroleum Exhibition and …
Industries Qatar has a robust liquidity that supports the increase in dividends to QAR 12.1bn
12 November 01:43 PM Industries Qatar to distribute QAR 7/shr dividends for 2018 – QNB
Mubasher: Qatar National Bank (QNB) Financial Services expected Industries Qatar to distribute a cash dividend of QAR 7 per share for the full-year 2018, according to a statement on Monday. The Qatari producer of petrochemicals, metals, and …
Indian tourists to raise GCC hotel occupancy by 10.8m in 5 yrs – Report
11 November 02:47 PM Indian tourists to raise GCC hotel occupancy by 10.8m in 5 yrs – Report
Mubasher: The number of Indian travellers to the GCC region is expected to add 10.8 million hotel rooms in the next five years, according to data published before Arabian Travel Market 2019 (ATM). Indian tourists worldwide are projected to reach …
Any potential deal would rely on a slew of factors including the volume of Iranian exports
11 November 02:27 PM Saudi Arabia, OPEC in talks over output cut
Riyadh – Mubasher: Saudi Arabia has started discussions with other partners to reduce crude production from the Organization of the Petroleum Exporting Countries’ (OPEC) and its allies by 1 million barrels per day (bpd) in the coming period, two …
Dubai’s non-oil sector growth slows in October
11 November 09:27 AM Dubai’s non-oil sector growth slows in October
Dubai – Mubasher: The non-oil private sector in Dubai has seen the weakest growth since March 2016 in October amid a slowdown in business activity and employment. The seasonally adjusted Emirates NBD Dubai Economy Tracker Index fell to 52.5 in …
Photo Archive
10 November 08:29 PM TASI-listed cement companies turn to losses in Q3
Riyadh – Mubasher: Saudi cement companies reported a collective net loss during the third quarter of 2018.  Financial results by the cement sector on the Saudi Stock Exchange (Tadawul) showed losses of SAR 5.05 million, against profits of SAR …
Photo Archive
10 November 08:27 PM Saudi transport sector profits down 14%
Riyadh – Mubasher: Quarterly profits by the transportation sector on the Saudi Stock Exchange (Tadawul) declined by 14.2% in the third quarter of the year, according to a survey by Mubasher. For the nine-month period that ended 30 September, …
Photo Archive
10 November 08:25 PM Tadawul’s energy sector profits down 55% in Q3
Riyadh – Mubasher: Profits of the energy sector on the Saudi Stock Exchange (Tadawul) declined by 55.4% in the third quarter of the year, according to a survey by Mubasher.  Financial statements showed that net profits totalled SAR 350 million in …
Photo Archive
8 November 11:29 PM New road shortens Cairo-Sharm trip to 4hrs
Cairo - Mubasher: A new 340-kilometer Tunnel Road will shorten the trip from Cairo to Sharm El Sheikh to four hours. Egyptian President Abel Fattah El-Sisi visited the new road’s construction site on Thursday. Construction are supervised and …
Photo Archive
8 November 07:42 PM Mobile phone users in Egypt up to 96.36m
Cairo - Mubasher: The number of cell phone users in Egypt increased by 0.65% in July, according to a recent report by the Egyptian Ministry of Communications and Information Technology. The number of subscribers totalled 96.36 million in July, …
Photo Archive
7 November 09:41 PM Moody’s maintains stable outlook for UAE banks
Dubai - Mubasher: Moody's Investors Service has kept its outlook on the United Arab Emirates (UAE) banking system at stable. This reflects a gradually recovering economy, as well as banks' strong capital, resilient profitability and solid funding. …
Photo Archive
7 November 05:43 PM UAE, KSA lead region’s safest banks
Mubasher: Global Finance issued a report on the safest banks in the Middle East in 2018, in which 12 banks from the UAE and 10 banks Saudi Arabia out of the top 50 banks on the list. First Abu Dhabi Bank (FAB) came in first with two “AA-” ratings …
Five UAE-based banks topped the list of the Middle East’s safest banks
7 November 04:02 PM 5 UAE banks top Middle East's safest lenders – Global Finance
Abu Dhabi – Mubasher: Five UAE-based banks topped the list of the Middle East’s safest banks, according to Global Finance Magazine’s latest report. The First Abu Dhabi Bank (FAB) came in the first spot, with total assets of $185.15 billion, …
Saudi workforce in private sector grows 6% YoY in Q2 – GASTAT
7 November 03:01 PM Saudi private-sector workforce grows 6% YoY in Q2 – GASTAT
Riyadh – Mubasher: The number of Saudi workers in the private-sector facilities increased by 5.7% year-on-year in the second quarter of 2018, General Authority for Statistics (GASTAT) said in a recent survey. Total workforce in the …
illegal cigarette sales in GCC rose to 5.3% in the first half of 2018
7 November 02:16 PM GCC loses $210m tax revenues from illicit cigarettes – Philip Morris
Mubasher: Illegal cigarettes have incurred GCC countries $210 million in lost revenue since the excise taxes were introduced in the region in 2017, Philip Morris International (PMI) said in a report. According to official estimates released by the …
Photo Archive
6 November 11:36 PM Egypt aims at settling dispute with Unión Fenosa
Cairo - Mubasher: The Egyptian ministry of petroleum is in talks with Union Fenosa to reduce a $2 billion fine. Fenosa owns a natural gas liquefying factory in Damietta, which is expected to resume production by the next half of 2019. The ministry …
Global IT spending to rise to $1.9bn by 2019 - Gartner
6 November 06:42 PM Global IT spending to rise to $1.9bn by 2019 - Gartner
Mubasher: New research has predicted that global spending on information technology (IT) was likely to increase by 9.8% to $1.9 billion by 2019. Global research firm Gartner projected an increase in the volume of companies’ investments in …