Sector Reports

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1 December 02:02 PM Egypt-Spain trade exchange nears EUR 2bn in 9M

Cairo – Mubasher: The trade exchange between Egypt and Spain increased by 23.8% to EUR 1.96 billion during the first nine months (9M) of 2021 from EUR 1.58 billion in 9M-20, Egypt’s Minister of Trade and Industry, Nevin Gamea, stated. Spain has …

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30 November 05:01 PM UAE registers 65 new COVID-19 cases

UAE – Mubasher: The UAE Ministry of Health and Prevention recorded 65 additional COVID-19 infections on Tuesday, state-run agency WAM reported. There was one fatality as well as 77 more recoveries, the ministry added. The new figures increased the …

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30 November 03:10 PM No cases of Omicron variant detected in Egypt – Official

Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …

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30 November 09:10 AM ADNOC to supply customers in Asia full crude volumes in February

UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) will provide term customers in Asia full volumes of all crude grades for the third month in a row in February, two sources told Reuters. This announcement was made before OPEC+'s …

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29 November 05:56 PM Saudi insurance firms’ solvency margin leaps 177% in Q3 – SAMA

Riyadh – Mubasher: The solvency margin rate of Saudi insurance companies has surged by 177.2% year-on-year (YoY) during the third quarter (Q3) of 2021, according to a report by the Saudi Central Bank (SAMA). The insurance sector registered …

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29 November 03:48 PM Egypt imports $61bn goods in 9M; Chinese products top list

Cairo – Mubasher: Egypt has imported goods and products at a total value of $61 billion during the first nine months (9M) of 2021, an increase of 16% from $52.4 billion in the same period last year. China came on top of the countries Egypt has …

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29 November 01:03 PM Spending on Saudi cybersecurity market likely to hit SAR 3bn

Riyadh – Mubasher: Saudi Arabia’s cybersecurity market is expected to witness a 13% growth in spending in the coming years. Spending on the Saudi cybersecurity industry is anticipated to reach SAR 3 billion on an annual basis in line with the …

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28 November 04:32 PM Egypt receives 4m doses of Pfizer vaccine; COVID-19 cases near 1,000 mark

Cairo – Mubasher: Egypt has received 3.89 million doses of Pfizer vaccine against COVID-19 on 27 November, in a bid to diversify and expand the shots available for the citizens, according to an official statement. The jabs were sent under Gavi …

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25 November 06:38 PM Chalhoub Greenhouse partners with Instagram to boost Saudi fashion startups

Mubasher: Chalhoub Greenhouse, Chalhoub Group’s space for innovation and entrepreneurship, has collaborated with Instagram, to empower startups in Saudi Arabia by providing the upcoming fashion businesses with training, guidance, and support to …

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25 November 05:56 PM Egypt’s extractive industries index up 2% in September – CAPMAS

Cairo – Mubasher: Egypt’s manufacturing and extractive industries index went up 2.2% to record a reading of 116.05 in September from 113.56 in August, according to official data on Thursday. Food products industries index increased by 4.55% to …

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25 November 05:36 PM Saudi Arabia’s daily COVID-19 cases decline to 28

Riyadh – Mubasher: Saudi Arabia reported 28 new COVID-19 infections on Thursday, down from 34 cases a day earlier and compared to 38 infections on Tuesday. There were 38 additional recoveries as well as one fatality, according to the Ministry of …

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24 November 03:38 PM Saudi Arabia generates trade balance surplus in September, Q3

Riyadh – Mubasher: Saudi Arabia has recorded a trade balance surplus of SAR 48.82 billion in September this year, according to official data on Wednesday. The Kingdom’s trade volume, both imports and exports, amounted to SAR 140.5 billion last …

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24 November 10:05 AM Fertiglobe’s consortium selects Plug Power to deliver electrolyzer for green hydrogen

Abu Dhabi - Mubasher: Fertiglobe and its partners of Scatec ASA, the Sovereign Fund of Egypt, and Orascom Construction have selected Nasdaq-listed Plug Power to deliver a 100 megawatts (MW) electrolyzer for the production of green hydrogen. The …

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23 November 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report

Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …

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22 November 04:01 PM Egypt's LNG exports hike 900% YoY in Q3-21

Cairo - Mubasher: Egypt has recorded a surge in liquified natural gas (LNG) exports by 1 million tonnes or around 900% year-on-year (YoY) during the third quarter (Q3) of 2021, marking the highest growth rates across the world, …

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21 November 05:07 PM Egypt’s exports to Nile Basin countries exceed $1bn in nine months

Cairo – Mubasher: Egypt has exported goods worth $1.11 billion to the Nile Basin countries during the first nine months of 2021, according to official data. This marked a year-on-year (YoY) increase of 33.7% from $835 million in January-September …

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21 November 12:26 PM UAE’s non-oil exports increase to AED 248bn in nine months

UAE – Mubasher: UAE has exported non-oil goods worth AED 247.92 billion during the first nine months of 2021, rising by 30% year-on-year (YoY) from AED 191.32 billion, according to official data. Non-oil imports also grew by 25% to AED 714.26 …

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17 November 05:57 PM Saudi Arabia announces 42 new COVID-19 cases

Riyadh – Mubasher: Saudi Arabia’s Ministry of Health reported 42 additional COVID-19 infections on Wednesday. The country registered 39 more recoveries and two new fatalities, according to the daily report. The new figures brought the total number …

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16 November 02:42 PM Egypt’s unemployment rate up to 7.5% in Q3-21 – CAPMAS

Cairo – Mubasher: Egypt’s unemployment rate went up 0.2% to 7.5% in the third quarter (Q3) of 2021, compared to 7.3% in the previous quarter of 2021, as shown by the data by the Central Agency for Public Mobilization and Statistics (CAPMAS). The …

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15 November 04:47 PM Saudi inflation inches up in October; wholesale prices rise 12%

Riyadh – Mubasher: Saudi Arabia’s Consumer price index (CPI) went up 0.8% in October this year, compared to the same month in 2020, according to official data on Monday. The CPI, which measures the inflation rate of the country, also inched up …

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3 November 02:37 PM Saudi PMI reflects improvement in non-oil private sector – HIS Markit

Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) registered 57.7 in October, indicating a sharp improvement in the non-oil private sector, according to IHS Markit. October reading was however down …

The IHS Markit Egypt PMI edged down to 48.7 in October

3 November 11:21 AM Egypt's non-oil private sector contracts in October amid inflationary pressures

Cairo – Mubasher: Egypt's non-oil private sector contracted in October to its lowest level since May amid an international supply chain crisis, a survey showed on Wednesday. The seasonally adjusted IHS Markit Egypt Purchasing Managers’ Index edged …

The price of diesel will increase to AED 2.81 per litre

31 October 12:20 PM UAE raises fuel prices for November

UAE – Mubasher: The UAE's Fuel Price Follow-up Committee decided to increase the fuel prices for November, according to a tweet by Emirates General Petroleum Corporation (Emarat) on Sunday. The price of 98 Super gasoline will increase to AED 2.80 …

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27 October 01:08 PM Riyadh welcomes regional HQs of 44 multinational firms

Riyadh – Mubasher: A total of 44 multinational companies have received licences to move their regional headquarters (HQs) to Riyadh, the Saudi Press Agency (SPA) reported on Wednesday. The enterprises are from different sectors such as technology, …

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26 October 02:35 PM Investments in Saudi fintech industry surpass SAR 1.3bn – Report

Riyadh – Mubasher: Fintech companies in Saudi Arabia witnessed investments worth more than SAR 1.3 billion ($347 million) during 2020, according to a report by Fintech Saudi. The number of fintech firms in the Kingdom has increased by 37% last …