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10 May 03:55 AM

Sector Reports

The oil and gas sector contributed 24% to the GDP in FY19/20
9 May 01:44 PM Egypt’s gas sector grows 25% in 2020 – El-Molla
Cairo – Mubasher: The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, said that the natural gas sector has turned to positive growth of 25% in 2020 from a negative growth of 11% in 2015. This has enabled the country to be …
Macroeconomics
Committed gas investments will likely plunge by $9.5 billion
4 May 02:39 PM MENA energy investments likely to surpass $805bn by 2025
Mubasher: Total planned and committed investments in MENA’s energy sector are expected to exceed $805 billion over the coming five years, the Arab Petroleum Investments Corporation (APICORP) said. This will mark an increase of $13 billion from the …
Macroeconomics
The value of real estate sales neared AED 5 billion
4 May 12:47 PM Abu Dhabi's real estate transactions hit AED 11.5bn in Q1-21
UAE - Mubasher: The total value of real estate transactions in Abu Dhabi amounted to AED 11.5 billion during the first quarter (Q1) of 2021, according to a recent report by the Abu Dhabi Department of Municipalities and Transport (DMT). …
Macroeconomics
Middle East Energy Dubai will kick off on 17 May
3 May 03:10 PM Middle East seen as market leader in renewable, clean energy
Mubasher: The MENA region is projected to see 83 GW of renewable and clean energy capacity, mainly from solar and wind power, by 2035, according to a research from Informa Markets. In addition, over AED 55 billion worth of solar power projects …
Macroeconomics
29 April 03:58 PM Saudi Arabia’s consumer spending rises by 2.1% in Q1
Riyadh - Mubasher: Consumer spending in Saudi Arabia increased by SAR 5.3 billion, or 2.08%, during the first quarter (Q1) of 2021, compared with the same period of last year. Recent data by the Saudi Central Bank (SAMA) showed that consumer …
Sector Reports
Saudi Arabia aims to modernise its economy
25 April 03:35 PM Saudi Arabia could save SAR 800bn from energy reforms in 10 years
Riyadh – Mubasher: Saudi Arabia would save about SAR 800 billion for the government over the coming 10 years from its energy reforms plan, Reuters cited Finance Minister Mohammed Al Jadaan as saying. This amount could be utilised for investment. …
Sector Reports
Dubai saw a 23% monthly growth in the number of property transactions
25 April 02:30 PM Dubai sees 4,643 real estate sales transactions in March 2021
UAE - Mubasher: Dubai recorded 4,643 real estate sales transactions worth AED 10.93 billion in March 2021, reflecting the highest number of property transactions in 16 months. The emirate saw a 23% month-on-month (MoM) growth in the number of …
Sector Reports
Commercial and agricultural property prices decreased in Q1-21
22 April 12:36 PM Saudi real estate prices slightly up in Q1-21
Riyadh – Mubasher: Saudi Arabia’s real estate price index was higher by 0.2% in the first quarter (Q1) of 2021, compared with Q1-20, the Kingdom’s General Authority for Statistics (GaStat) reported. The slight increase was driven by an annual rise …
Sector Reports
UN in 2015 led its member states to adopt the 2030 Agenda for Sustainable Development
22 April 12:06 PM Are MENA countries on track with achieving SDGs?
By: Ingy ElSafy Mubasher: The United Nations (UN) led its member states in 2015 to adopt the 2030 Agenda with 17 Sustainable Development Goals (SDGs) that include 169 specific targets, covering social, economic, and environmental dimensions, in …
Macroeconomics
There was an increase in the labour force participation rate of all Saudis
19 April 12:18 PM Saudi unemployment rate declines to 12.6% in Q4-20
Riyadh – Mubasher: The unemployment rate in Saudi Arabia decreased to 12.6% during the fourth quarter (Q4) of 2020, compared to 14.9% in the previous quarter, according to estimates by the General Authority for Statistics (GASTAT). This level was …
Macroeconomics
Dubai’s residential net yields averaged 6.1%
19 April 10:23 AM Dubai sees quarterly improvements in residential capital value in Q1-21
UAE - Mubasher: Dubai's real estate market witnessed quarterly improvements in the residential ValuStrat Price Index (VPI), which tracks the change in capital values for a representative fixed basket of properties, during the first quarter (Q1) of …
Sector Reports
Saudi insurance sector’s GWP stood at SAR 8.4 billion in Q4-20
18 April 02:23 PM Saudi insurance sector’s net income shrinks 69% in Q4-20 – Aljazira Capital
Riyadh – Mubasher: The insurance sector in Saudi Arabia registered a drop of 69.1% year-on-year (YoY) in net income at SAR 94.5 million during the fourth quarter of 2020 (Q4-20). Net income before Zakat totalled SAR 266.2 million in Q4-20, …
Sector Reports
A total of 404,054 people in Saudi Arabia have contracted COVID-19
18 April 01:28 PM Saudi Arabia administrates over 7m COVID-19 vaccine shots
Riyadh – Mubasher: The Saudi Ministry of Health has administrated more than 7 million doses of COVID-19 vaccine across the Kingdom, according to an official tweet. The shots were provided at over 587 vaccination destinations in Saudi Arabia. A …
Sector Reports
DP World has contributed to the growth of the F&B sector in the UAE
14 April 01:51 PM UAE aims to occupy 1st position in Global Food Security Index by 2051
Mubasher: The UAE seeks to occupy the number one ranking in the Global Food Security Index by 2051 and further improve food security. This announcement was made during a webinar entitled "Agritech - Enhancing Food Security in the UAE" and …
Macroeconomics
Online shopping has become more of a long-term behavior change
13 April 03:18 PM Online shopping in KSA, UAE likely to grow during Ramadan – Report
Riyadh – Mubasher: A greater surge in online shopping is expected to be witnessed during the month of Ramadan, which has just started today on 13 April, a recent survey Checkout.com unveiled. Online spending by consumers in the UAE and Saudi …
Macroeconomics
Central Bank of Egypt - (Photo Archive)
11 April 01:47 PM CBE to introduce instant payment module, soft POS in 2021 - Deputy Governor
By: Marina Gamil Cairo – Mubasher: The Central Bank of Egypt (CBE) will this year launch a full-fledged instant payment module, after finalising regulations, and introduce a soft point of sale (POS) system that allows the use of mobile phones as …
Macroeconomics
Lafarge press conference
8 April 03:32 PM Lafarge Egypt introduces new line of EcoLabel green cement
Cairo – Mubasher: Lafarge Egypt announced on Wednesday that it has obtained the EcoLabel for a line of new products with lower CO2 emissions and increased use of recycled materials. Introducing its Hydrocem and Hydrocem Plus products, a new range …
Companies Investments
Ipsos' survey showed the 2020 biggest movers ranking
8 April 02:35 PM Listed firms among top 10 most influential brands in Saudi Arabia
Riyadh – Mubasher: Saudi Telecom Company (stc), Almarai, and Al Rajhi Bank were chosen as the top three most influential local brands in Saudi Arabia during 2020, according to a recent survey by Ipsos. Jarir Bookstore and Etihad Etisalat Company …
Ratings
Saudi Arabia has an opportunity to drive technology-led productivity through IA deployments
6 April 02:04 PM Intelligent automation likely to double Saudi economy by 2030
Riyadh – Mubasher: Intelligent automation (IA) is expected to double the economy of Saudi Arabia to $1.6 trillion through the addition of $293 billion by 2030, according to a research by Automation Anywhere. The Kingdom also has an opportunity to …
Sector Reports
Prime Minister Mostafa Madbouly
1 April 02:05 PM Egypt's pharmaceutical sector valued at EGP 125bn - Prime Minister
Cairo – Mubasher: Egyptian Prime Minister Mostafa Madbouly affirmed the importance of developing the pharmaceutical and medical equipment manufacturing sectors. On the sidelines of inaugurating the Medicine City in Khanka on Thursday, Madbouly …
Macroeconomics
The aggregate net profit of the GCC listed banks plunged by 32.2% YoY
1 April 01:48 PM GCC banking sector's profits record seven-year low in 2020
Mubasher: The net profits of the GCC banking sector hit their lowest levels in seven years, affected by the decline of profits in the fourth quarter (Q4) by almost a third on a quarterly basis to $5.3 billion due to higher provisions, according …
Banking and Finance
ICE launched on Monday the ICE Futures Abu Dhabi (IFAD)
29 March 12:36 PM ICE, ADNOC launch ICE Murban Crude Oil Futures
Abu Dhabi - Mubasher: Intercontinental Exchange (ICE) launched on Monday the ICE Futures Abu Dhabi (IFAD) and the trading of the new ICE Murban Crude Oil Futures Contract, with the Abu Dhabi National Oil Company (ADNOC) and nine of the world's …
Companies Investments