Sector Reports

Nearly 30% of the EMEA region’s organisations have introduced AI technologies
20 September 04:49 PM Firms in EMEA utilising AI technologies – ServiceNow
Mubasher: Companies in Europe, the Middle East, and Africa (EMEA) region are currently deploying artificial intelligence (AI) technologies to develop customer service as a growing number of consumers shows high acceptance of experiences driven by …
Omani crude oil prices remained at around $76 in September
20 September 03:49 PM Omani crude price at $78.16 for November futures – DME
Mubasher: Oman’s crude oil price on Thursday increased by 56 cents, reaching $78.16 for November futures, the Dubai Mercentile Exchange (DME) said. Omani crude oil prices remained at around $76 in September, the DME added. “This same day last …
Dubai has attracted $21.66 billion worth of foreign direct investment
19 September 06:15 PM Dubai to host region’s largest hospitality technology exhibition
Mubasher: The Department of Tourism and Commerce Marketing (DTCM) in Dubai will be the destination partner for HITEC Dubai 2018, the world’s largest hospitality Technology Exhibition and Conference brand in the Middle East. Dubai will host the …
Qatar’s industrial production index  jumped 1.4% year-on-year to 107.7 points in July
19 September 05:07 PM Qatar’s IPI grows 1.4 in July – MDPS
Mubasher: Qatar’s industrial production index (IPI) jumped 1.4% year-on-year to 107.7 points in July, the Ministry of Development Planning and Statistics (MDPS) said in a statement released on Wednesday. The manufacturing index of the world’s …
Earlier this month, the kingdom began Saudising parts of the retail sector including household utensils, furniture, clothes shops, and car dealerships
19 September 03:29 PM Will Saudising retail hurt or boost the sector?
Riyadh – Mubasher: Saudi Arabia has started nationalising jobs in its retail sector in a bid to raise the number of Saudi citizens working in the country and reduce expat numbers. Analysts forecast that the retail sector, whose Saudisation follows …
Photo Archive
19 September 12:37 AM Cement faces oversupply, drop in demand - FEI
Cairo - Mubasher: The head of the cement committee in the Federation of Egyptian Industries (FEI) said that demand declined in the first half of 2018 to 25 million tons, compared with 26 million tons for the same period last year. Despite the …
Photo Archive
18 September 10:04 PM Export duties on Egypt fertilisers to balance market
Cairo - Mubasher: A decision by the Egyptian cabinet to raise duties in fertilisers exports by 300% was encouraged by constant complaints from farmers, now the government has stepped in to help balance the market and ensure sufficient local …
Loans increased to QAR 925.79 billion in August
18 September 05:42 PM Qatar’s bank credit grow 3% in August – QCB
Mubasher: Bank lending in Qatar witnessed a 2.86% year-on-year increase in August, Qatar Central Bank (QCB) said. Loans increased to QAR 925.79 billion ($256.08 billion) last month, compared to QAR 900.02 billion ($248.95 billion) in August 2017. …
Total deposits amounted to QAR 807.34 billion in August
18 September 05:20 PM Qatar bank’s deposits hit QAR 807bn in August – QCB
Mubasher: Deposits at banks operating in Qatar increased by 1.7% year-on-year in August, the Qatar Central Bank’s (QCB) data showed. Total deposits amounted to QAR 807.34 billion ($223.32 billion) in August, compared to QAR 793.64 billion ($219.53 …
The tender closes on 16 December 2018
18 September 03:42 PM KNPC lists construction tender for Kuwait’s Dabdaba solar project
Mubasher: Kuwait National Petroleum Company (KNPC) has listed a tender for the construction works of its planned Dabdaba solar energy project, Construction Week Online said. This solar project is part of Kuwait’s strategy to produce 15% of its …
Qatari lenders’ total assets decreased by 0.3% last month, compared to QAR 1.387 in July.
17 September 04:41 PM Qatari bank assets hit $380bn in August - QCB
Mubasher: Assets owned by banks operating in Qatar increased 4.9% year-on-year in August, according to the Qatar Central Bank's (QCB) recent data on Monday. Total assets amounted to QAR 1.389 trillion ($380 billion) in August, up from QAR 1.31 …
Turkey's central bank
17 September 04:17 PM How does Egypt hedge against Turkish interest hike?
By: Heba El-Kordy Cairo – Mubasher: The recent increase in Turkish interest rates will weigh on the Egyptian economy in the coming period particularly after emerging markets' (EM) volatile performance during 2018. Egypt has sought to counter this …
Incoming tourist trips reached 2.3 million during the same period
17 September 12:17 PM Saudi domestic tourism spending hits SAR 13.5bn – SCTH
Riyadh – Mubasher: Saudi Arabia’s domestic tourist trips grew 13% year-on-year to 11.3 million during the summer vacation with a total spending of SAR 13.5 billion ($3.6 billion), the Saudi Commission for Tourism and National Heritage (SCTH) said …
Saudi home prices drop in 2018
16 September 04:22 PM Saudi home prices drop in 2018 - Report
Riyadh – Mubasher: A new report covering international real estate markets has indicated that the Saudi market was among those that witnessed a fall in prices so far in 2018. Saudi was only one of seven markets to see prices fall in the 12-month …
AI and RPA are widely used in various sectors in the MENA and GCC
16 September 01:50 PM AI, RPA top MENA executives’ agenda - EY
Mubasher: Around 53% of senior executives in the Middle East and North Africa (MENA) region are seeing Robotic Process Automation (RPA) and artificial intelligence (AI) as the most prominent technologies in their business agenda, according to EY’s …
Kuwait City has remained outside the index
13 September 05:49 PM Dubai tops region as most attractive business hub in ME – Forbes
Edited by: Ingy ElSafy Mubasher: The Middle East and GCC countries, namely the fast-growing cities, have been in an endless competition to be crowned the region’s commercial capital, Forbes said. The likes of Beirut and Bahrain used to stake their …
Total transactions amounted to QAR 1.5 billion in August
13 September 04:26 PM Qatar’s real estate deals fall 63% in August
Mubasher: Qatar's real estate transactions dropped 63.4% month-on-month during August, according to the Justice Ministry's recent data. The report, issued late on Monday, showed that the number of deals increased to 246 deals in the month before. …
The remarkable increase in reply for the cinemas is promising
13 September 03:45 PM Al Hokair Group’s cinema sector to see more growth – Aljazira Capital
Riyadh – Mubasher: Aljazira Capital on Thursday said that its outlook on Abdul Mohsen Al Hokair Group for Tourism and Development Company’s investments in cinema sector is positive during the next period. The remarkable increase in reply for the …
The oil-rich kingdom hasn't set a timeframe for applying the new procedure
13 September 12:23 PM Saudi Arabia to adopt plain packaging for tobacco products
Riyadh – Mubasher: Saudi Arabia has told the World Trade Organisation (WTO) that it will adopt plain packaging of cigarettes in the coming period. The oil-rich kingdom hasn't set a timeframe for applying the new procedure, however, it will be the …
The selected developers will be granted a 20-year PPA
11 September 04:38 PM Jordan’s solar auction attracts lowest bid of $0.02488/kWh
Mubasher: The results of Jordan’s Round 3 solar PV auction have been announced, with Jinko Power (HK) Company Limited submitting the lowest bid of $0.02488/kWh. Jinko, in addition to two other companies, are now in pole position to be awarded …
WGES 2018 is planned to take place from 24 to 25 October
11 September 04:16 PM World Green Economy Summit 2018 to boost green capital
Mubasher: The annual World Green Economy Summit this year (WGES 2018) will focus its discussions and topics on green capital amid the global commitments to build a green and sustainable world economy, according to a statement on Tuesday. Green …
Saudi Arabia launches event to boost construction sector next week
11 September 02:44 PM Saudi Arabia launches event to boost construction sector next week
Riyadh – Mubasher: The Saudi Contractors Authority (SCA) has said it will organise the first International Contracting Conference and Exhibition (ICCE) during the coming week at the Riyadh International and Convention and Exhibition Centre. …
GCC tourists spent around $468 million in the UK in Q1-18
11 September 01:17 PM GCC tourists to UK break record in Q1-18
Mubasher: Visitors from GCC nations to the United Kingdom rose 2% in the first quarter of 2018 to 161,000 from a year ago.  GCC tourists spent around $468 million in the UK between January and March, up 11% from the same period of the prior year, …
Saudi cement sales drop 26% in August
10 September 06:24 PM Saudi cement sales drop 26% in August
Riyadh – Mubasher: Saudi-based cement companies’ sales retreated by around 26% in August to 2.76 million tonnes from 3.7 million tonnes in the same period of 2017, new data has showed. Cement firms’ total output also declined 27.65% year-on-year …
Qatar’s CPI grew 0.6% year-on-year
10 September 04:18 PM Qatar’s inflation grows 0.6% in August – MDPS
Mubasher: Qatar’s consumer price index (CPI) grew 0.6% year-on-year and 0.04% month-on-month in August, recording 108.95 points. The prices of a group of seven segments increased last month, compared to July, topped by the transportation, which …