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23 May 03:42 PM

Sector Reports

​Meras e-services are linked with 22 government agencies
4 hours ago Saudi e-commercial registrations surge 64% in 2018
Riyadh – Mubasher: The E-commercial registrations in Saudi Arabia have increased by 64% during 2018 compared to in 2017. The commerce and investment ministry of Saudi Arabia showed that E-commercial registrations in 2018 totalled about 3,190 when …
NBK Research also predicts regional issuance to remain solid in 2019
4 hours ago GCC bond, sukuk issuance surges $32bn in Q1– NBK Research
Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …
Bonds
KNPC’s oil product stocks are enough for up to 25 days
5 hours ago Kuwait’s oil sector ready to face regional challenges – KNPC
Mubasher: Kuwait's oil sector has been ready to face challenges which may arise from current regional and international tensions, National Petroleum Company’s (KNPC) CEO said. KNPC’s oil product stocks are enough for up to 25 days, and the …
Sector Reports
The kingdom’s exports to Japan recorded $2.604 billion in April
22 May 02:12 PM Saudi Arabia’s trade surplus with Japan hits $2.3bn in April
Riyadh – Mubasher: Saudi Arabia’s trade surplus with Japan has declined to $2.293 billion (SAR 8.599 billion) in April, compared to $2.472 billion (SAR 9.269 billion) in the same period of 2018. The kingdom’s exports to Japan recorded $2.604 …
Macroeconomics
Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd
22 May 01:38 PM Kuwait’s oil exports edge up in March – JODI
Mubasher: Kuwait’s oil exports inched up 0.69% to 2.034 million barrels per day (mbpd) in March, compared to 2.020 mbpd for the same month a year earlier, according to the Joint Organisations Data Initiative (JODI). The GCC nation’s oil exports …
Commodities
The hotel apartment price index rose 7.5% in February
22 May 09:46 AM Abu Dhabi's hotel establishment revenues rise 36.8% in February
Abu Dhabi – Mubasher: The hotel establishment revenues across the emirate of Abu Dhabi jumped by 36.8% year-on-year in February, data by the Statistics Centre- Abu Dhabi (SCAD) showed. The increase in revenue was backed by a rise in the hotel …
Sector Reports
Eastern Cement posted a net profit worth SAR 34.4 million in Q1-19
21 May 02:59 PM Eastern Cement’s income to grow 108% in FY19 – Al Jazira Capital
Riyadh – Mubasher: Al Jazira Capital, the investment arm of Bank AlJazira, said that the Saudi cement sector is expected to recover from its current downtrend due to producer’s concentration on selling prices and an increase in export sales. Al …
Arabian Cement achieved a net profit worth SAR 37.1 million in Q1-19
21 May 02:43 PM Al Jazira Capital raises Arabian Cement’s TP to SAR 31.7/shr
Riyadh – Mubasher: Al Jazira Capital raised the target price (TP) of Arabian Cement Company to SAR 31.7 per share and revised its recommendation to “Overweight”. Selling price amounted to SAR 220 per tonne against Al Jazira’s estimations of SAR …
Sector Reports
Saudi crude oil exports levelled up to 7.141 mbpd in March,
21 May 01:23 PM Saudi oil exports hit 8.6 mbpd in March – JODI
Riyadh – Mubasher: Saudi Arabia’s oil exports increased by 176,000 barrels per day (bpd) to 8.614 million bpd (mbpd) in March, compared to 8.438 mbpd a month earlier, the Joint Organisations Data Initiative’s (JODI) data revealed on Tuesday. Saudi …
Sector Reports
Most of the ADX-listed banks posted solid profits for Q1
21 May 11:37 AM Abu Dhabi banks report robust profits in Q1 - Analysis
By: Mahmoud Gamal Abu Dhabi – Mubasher: Most of the banks listed on the Abu Dhabi Securities Exchange (ADX) have posted solid profits for the three-month period ended 31 March 2019. Profits of the lenders operating in the oil-rich emirate were …
Sector Reports
The number of European visitors to the emirate amounted to 1.01 million in Q1-19
20 May 01:15 PM Dubai tops European tourists’ most visited cities
By: Mahmoud Gamal Dubai – Mubasher: Dubai has topped the most visited destinations by European tourists due to the annual increase in the emirate’s arrivals as compared with other cities across the world. With its various tourism services and …
Macroeconomics
This project will consist of three combined cycle blocks
20 May 12:28 PM GE secures $1bn in funding for Sharjah’s 1st combined cycle power plant
UAE – Mubasher: Hamriyah Independent Power Company in Sharjah has received funding for GE’s flagship 1.8 gigawatts (GW) power project, expected to be the most efficient power plant in the Middle East’s utilities sector when completed.  …
Sector Reports
LG’s 2019 TVs include conversational voice recognition feature
20 May 11:39 AM LG develops world’s 1st Arabic-supported AI televisions
Mubasher: LG Electronics (LG) has announced the first Arabic voice service support in its 2019 televisions that are enabled with Artificial Intelligence (AI) technology. The 2019 TVs from LG come with unique ‘ThinQ AI platform’ which deploys a …
Sector Reports
Canada is the most desired relocation destination
19 May 01:15 PM 63% of Emiratis to relocate other countries for education – Report
Mubasher: Around 63% of Emirati nationals and residents said they would be likely to move to another country other than the UAE or their homeland for several reasons including better education, according to a report released by Vizar Group on …
Macroeconomics
Economic reforms in Saudi Arabia have started to yield positive results
16 May 02:40 PM Saudi Arabia’s real non-oil growth to hit 2.9% in 2019 – IMF
Riyadh – Mubasher: Recent positive indicators combined with an increase in oil prices since the beginning of 2019 have boosted confidence in Saudi Arabia’s economy, the International Monetary Fund (IMF) said in its report released late on …
Macroeconomics
Autonomous transport something that the UAE is already actively involved in
16 May 10:44 AM Genomic medicine amid UAE’s goals in Fourth Industrial Revolution – Colliers
Mubasher: The Fourth Industrial Revolution (4IR) is becoming an endorsing factor for economies all over the world and it is currently being seen in various sectors such as real estate, banking, entertainment, healthcare, and the new trend of …
Global Economy
The UAE-based respondents claiming to have a holistic sustainability strategy topped others
13 May 02:26 PM UAE tops MENA in adopting holistic sustainability strategies – Survey
UAE – Mubasher: The UAE currently leads the Middle East and North Africa region (MENA) in terms of organisations embracing holistic sustainability strategies, according to a recent study sponsored by Emirates NBD and conducted by Sustainable …
Sector Reports
Mouwasat Medical Services achieved a 1.14% year-on-year rise in profits
13 May 02:02 PM Saudi healthcare sector posts SAR 113.6m decline in Q1 profits
Riyadh – Mubasher: The companies listed on the Saudi Stock Exchange (Tadawul) in the healthcare sector have registered a decrease of 31.2% or SAR 113.65 million in profits during the first three months of 2019 when compared to the same quarter …
Sector Reports
The seasonally adjusted Emirates NBD Dubai Economy Tracker Index increased to 57.9 in April
9 May 10:50 AM Dubai’s non-oil private sector improves in April
Dubai – Mubasher: Business conditions of the non-oil private sector economy in the emirate of Dubai have improved in April at the fastest pace in four years, reflecting new business directions. Business conditions in the wholesale and retail …
Macroeconomics
The boom in the e-commerce market boosted growth
8 May 07:55 PM Emirati logistics sector attracts major investments – JLL
Dubai – Mubasher: The UAE’s industrial and logistics sectors are luring more international investment. Such development was evidenced by the recent sale-and-leaseback of Transworld Group’s logistics facility in Dubai’s Jebel Ali Free Zone, …
Macroeconomics
Total loans provided by Kuwait's banks grew to more than KWD 37.4 billion in March
8 May 12:10 PM Kuwait’s bank lending grows 5.2% in March
Mubasher: The bank lending in Kuwait increased by 5.2% year-on-year in March, registering the highest growth in more than two years and a half, Kuwait Finance House (KFH) said in a report, citing the Central Bank of Kuwait’s (CBK) latest data. The …
Sector Reports
Tiara Hotel Riyadh, Saudi Arabia
8 May 10:58 AM Riyadh’s hospitality sector to see 2,500 rooms in 2019 – KPMG
Riyadh – Mubasher: The hospitality sector in the capital of Saudi Arabia is expected to see 2,500 new hotel rooms in 2019. This addition should bring the total number to 16,000 rooms in Riyadh, while the future supply is expected to increase by …
Macroeconomics
Egypt allocated around EGP 89 billion for fuel subsidies in FY18/19 budget
7 May 01:41 PM Egypt’s fuel subsidies fall to EGP 60.1bn in 9M
Cairo – Mubasher: Egypt’s fuel subsidies decreased by 28% in the first nine months of fiscal year 2018/2019, the petroleum minister said. Egypt spent EGP 60.1 billion ($3.5 billion) on fuel subsidies from July 2018 to last March, compared to EGP …
Companies Investments
Elaf Jeddah Hotel
7 May 10:22 AM Hotel rooms inventory in Jeddah likely to grow 35% by 2023 – KPMG
Riyadh – Mubasher: The hospitality market in Jeddah has registered an upward trend in key performance indicators (KPIs) during 2018, endorsed by a surge in the number of tourists as well as limited supply over the year; this has followed a …
Macroeconomics
Total passenger flights levelled down 3% year-on-year to 95,857 in Q1-19
5 May 03:23 PM DXB welcomes 22.2m passengers in Q1
UAE – Mubasher: Dubai International (DXB) welcomed up to 22.2 million passengers during the first quarter of 2019, down 2.2% from Q1-18. The drop comes due to reduced flights and a shift in the timing of the Easter holiday, DXB said in a statement …
Macroeconomics