Sector Reports

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03:20 PM UAE property sector sees 25% activity rise in Q1 – DLD director
Dubai – Mubasher: The UAE's real estate sector has witnessed a 25% rise in overall transactional activity in the first quarter of 2017, said the Dubai Land Department's (DLD) director general at the first Ramadan Real Estate Majlis. Speaking at …
S&P expects Islamic finance growth to settle at 5% for two years
20 June 05:03 PM Islamic finance assets reach $2trn in 2016 - S&P
Mubasher: A report by Standard and Poor's Global Ratings (S&P) showed that assets of the Islamic finance industry amounted to $2 trillion by the end of 2016. The rating agency expects the industry to continue to grow this year, then lose some …
The Kingdom pumped 9.946 million bpd in April
19 June 04:18 PM KSA crude exports down to 7m bpd in April
Riyadh – Mubasher: Saudi Arabia's crude exports fell to 7.01 million barrels per day (bpd) in April compared to 7.23 million bpd in March, according to Reuters. The Kingdom pumped 9.946 million bpd in April up from 9.90 million bpd in March. Crude …
Telecom Egypt is expected to begin providing mobile services in September
19 June 03:12 PM Egypt’s mobile operators to receive 4G frequencies Monday
Cairo - Mubasher: The Egyptian minister of communication and information technology said that the country’s mobile phone service providers will obtain the frequencies for the fourth generation (4G) of mobile telecommunications technology on …
The average price of the diesel group increased 23.1%
18 June 01:20 PM 16 building material groups down in May - SCAD
Abu Dhabi – Mubasher: The average prices of 16 building material groups saw a decline year-on-year in May 2017, according to a report released by the Statistics Center Abu Dhabi (SCAD). The average price of the diesel group increased 23.1%, while …
The Saudi government is expected to keep prioritizing downstream expansion into refining and petrochemicals.
16 June 02:12 PM Saudi Arabia’s transformation starts now - Merrill Lynch
Riyadh – Mubasher: The possible stability of oil prices at $53 per barrel will lead the fiscal deficit to settle at 4.9% of GDP in 2020, according to BofA Merrill Lynch Global Research report. Foreign reserves at Saudi Arabian Monetary Agency …
The index fell 0.2% to record 100.5 points in May
14 June 03:47 PM KSA general wholesale price index down 2.2% in May - GASTAT
Riyadh – Mubasher: Saudi Arabia’s general wholesale price index decreased 2.2% year-on-year in May 2017, according to the General Authority for Statistics (GASTAT). Four groups witnessed a decline during the aforementioned period of time, most …
The Kingdom consumed around 266.5 million tonnes of oil equivalent during 2016
14 June 02:58 PM KSA oil reserves reaches 266.5bn barrels by end-2016 – BP
Riyadh – Mubasher: The proven oil reserves of Saudi Arabia reached 266.5 billion barrels by the end of 2016, which is equivalent to 36.6 billion tonnes of oil, according to a report released by the British BP. The Kingdom consumed around 266.5 …
Drake and Scull, Damac and Arabtec have many investments in Qatar
13 June 04:05 PM The impact of Qatari crisis on UAE companies - Analysis
By: Amr Adel and Mahmoud Gamal Dubai - Mubasher: The crises between gulf countries and Qatar has put some Emirati companies in danger, as the crisis has intensified with more pressure being poured on Doha. Saudi Arabia, the UAE, and Bahrain, among …
The traded value of three listed REITs reached as high as 20% of the total Tadawul traded value
13 June 03:00 PM REIT traded values in Tadawul starts to stabilise – Al Rajhi Capital
Riyadh – Mubasher: The REIT traded values in the Saudi Stock Exchange (Tadawul) started to stabilise after being highly volatile from January to May, Al Rajhi Capital reported. The traded value of three listed REITs reached as high as 20% of the …
Total production also declined by 18.4% in May
12 June 12:53 PM KSA cement sales falls 21% in May
Riyadh – Mubasher: Cement-producing companies operating in Saudi Arabia saw a decrease in sales by 21.4% in May. Cement sales totalled 4.51 million tonnes in May down from 5.74 million tonnes in May 2016, according to the monthly report issued by …
Core CPI fell to 30.57% in May
11 June 05:24 PM Egypt inflation to drop significantly in Q4 - MubasherTrade Research
Cairo – Mubasher: MubasherTrade Research on Sunday said it forecast Egypt’s annual inflation to decline in the coming months, with the exception of a possible hike in July on the back of the implementation of a 13% to 14% value-added tax (VAT) …
Current market conditions have created a favourable landscape for new bond issuances
11 June 01:00 PM GCC bond issues hit $22bn in 5M
Mubasher: The total value of bond issues across the GCC in the first five months of 2017 has reached around $22 billion in sovereign and corporate bonds year-to-date, Fisch Asset Management said Sunday. The value of bonds in the six-member GCC …
Blocking land and sea access is likely to harm Qatar’s LNG supplies
6 June 05:57 PM Will the Arab diplomatic rift affect Qatar’s energy sector?
By: Mahmoud Gamal Mubasher: Recent decisions taken by several Arab countries to sever their diplomatic ties with Qatar have brought about fears of impacts hitting the Qatari energy sector as well as its liquefied natural gas (LNG) supply to global …
Saudi Arabia has twelve listed banks on the Saudi Stock Exchange (Tadawul)
5 June 03:33 PM KSA banking balance sheet up 1.9% in Q1
Riyadh – Mubasher: The balance sheet of Saudi Arabia’s banking sector rose 1.9% year-on-year and 0.5% quarter-on-quarter to SAR 2.267 billion in the first quarter of 2017, according to Aljazira Capital. Total loans accounted for 72.3% of total …
The residential sector posted a rise of 36% in sales
4 June 10:13 AM Kuwait property sales fall to 8M-low – NBK
Kuwait – Mubasher: The sales of the real estate sector in Kuwait declined in April to their lowest level in eight months, after a sudden activity in March, according to a recent report issued by the National Bank of Kuwait (NBK). On an annual …
(Photo Credit: Company website)
31 May 11:17 AM Oil to keep affecting KSA GDP growth – Capital Economics
Riyadh – Mubasher: Capital Economics reported that the latest continued slowdown in the Saudi economy was attributed to the weakness in the oil sector, expecting it to continue to trim headline gross domestic production (GDP) growth this year …
The GCC e-commerce market is set to reach $20 billion by 2020
28 May 01:27 PM GCC e-commerce trade to reach $20bn by 2020 – Report
Mubasher: The value of the GCC e-commerce market is forecast to reach $20 billion by 2020, according to a new study released by A.T. Kearney. This market is set to see an unprecedented expansion as the number of online shoppers increase across the …
(Photo Credit: Arabianeye-Reuters)
18 May 05:21 PM QSE main index edges down 0.07% in week
Doha – Mubasher: The benchmark index of the Qatar Stock Exchange (QSE) lost 0.07% or 7.49 points to reach 10,103.35 points by the week ended 18 May. QSE’s market cap declined 0.56%, or QAR 3.04 billion to QAR 537.49 billion ($147.48 billion), …
(Photo Credit: Arabianeye-Reuters)
18 May 03:58 PM Profits of ADX-listed companies jump 27.5% in Q1
By: Bedour Al Raey Abu Dhabi – Mubasher:  The listed companies in the Abu Dhabi Securities Exchange (ADX) showed a 27.5% growth in net profits in the first quarter of 2017. The net profit of the 61 local companies which announced their financial …
Photo Credit: Arabianeye-Reuters
18 May 12:13 PM Kuwait’s banks post higher profits in Q1-17
By: Eman Ghaly Kuwait – Mubasher: The banks sector listed on Boursa Kuwait reported a growth of 6% in profits during the first quarter of 2017 as compared to the same period in the prior year. The twelve-bank segment posted profits worth about KWD …
The Egyptian Exchange (Photo credit: Mubasher)
16 May 10:49 AM TE joins MSCI EM index; EFG Hermes, TMG switch indices
Cairo – Mubasher: The MSCI Emerging Markets (EM) Index’s May 2017 semi‐annual review, released on Tuesday, has added Telecom Egypt’s (TE) stock to the small- and medium-sized companies’ index. The review also showed that Egyptian Financial Group …
(Photo Credit: Arabianeye-Reuters)
15 May 01:38 PM Can restructure schemes save ailing UAE firms from bankruptcy?
By: Mahmoud Gamal Dubai – Mubasher: Recent talks and speculations regarding UAE-listed companies’ losses and subsequent restructure plans have taken centre stage, particularly as some companies have neared bankruptcy and have begun affecting other …