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Sector Reports

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4 March 11:33 AM Monshaat launches SME Bank to boost sector growth, fill financing gap
Riyadh – Mubasher: Saudi Arabia’s General Authority for Small and Medium Enterprises (Monshaat) launched the Small and Medium Enterprises (SMEs) Bank to increase funding for the SME sector and fill the financing gap. The aim is to strengthen …
Macroeconomics
Egyp's PMI advanced to 49.3 in February, but still below the neutral threshold of 50
3 March 11:45 AM Egypt's non-oil private sector declines at softer pace in February
Cairo – Mubasher: Egypt's non-oil private sector worsened for the third successive month in February, but at a softer pace from January, helped by a record increase in exports. The seasonally adjusted IHS Markit Egypt Purchasing Managers’ Index …
Sector Reports
The Saudi Central Bank (SAMA)
2 March 04:13 PM Saudi banks’ investments in gov’t bonds jump 15.45% in January
Riyadh – Mubasher: Banks operating in Saudi Arabia have raised their investments in government-issued bonds by 15.45% annually in January 2021, equivalent to SAR 59.76 billion. Total banks’ investments in Saudi bonds reached SAR 446.45 billion by …
Banking and Finance
Industrial sector saw AED 4 billion investments, while 51 facilities started production
2 March 12:47 PM Abu Dhabi’s industrial sector accounts for 10.7% of non-oil GDP
Mubasher: The industrial sector in Abu Dhabi contributed 10.7% to the emirate’s non-oil gross domestic product (GDP) last year, according to the Industrial Activity Index Report 2020, cited by the official Twitter account of Abu Dhabi Government …
Macroeconomics
Indian tourists topped lists of Dubai's visitors during January 2021
2 March 12:21 PM Dubai receives more than 451,000 visitors in January
Mubasher: Official data showed a decline in the number of tourists visiting Dubai during January 2021 by 75%, as the global travel and tourism industry is still coping with the impact of the Coronavirus pandemic. Dubai remains one of the …
Macroeconomics
Remittances paid by Saudi nationals grew by 9.4% annually in January 2021.
1 March 01:58 PM Expat remittances in KSA drop 11.75% in January
Riyadh – Mubasher: Remittances by expatriates in Saudi Arabia totalled SAR 12.057 billion ($3.21 billion) in January 2021. This represents a decline of 11.75% from SAR 10.792 billion ($2.87 billion) in January 2020, according to data from the …
Sector Reports
The GCC insurers could face key risks relating to volatility of earnings
25 February 12:51 PM S&P Global ratings on GCC insurance market expected to remain stable in 2021
Mubasher: S&P Global predicted its ratings on the GCC insurance market to remain stable in 2021, attributed to strong capital buffers, despite the coronavirus (COVID-19) economic repercussions and uncertainty. A relatively large number of the GCC …
Ratings
Cairo and Hurghada saw the steepest drops of more than 60% in occupancy rates
21 February 05:39 PM Egypt expected to add 7,000 hotel rooms by 2023 – Colliers
Cairo – Mubasher: Egypt is expected to add 7,000 hotel rooms by 2023 after the coronavirus COVID-19) pandemic led to delaying opening of new projects during 2020, according to Colliers International’s latest MENA Hotels Quarterly Review report. …
Sector Reports
Revenues of the three firms stood at SAR 81 billion, an annual increase of 6.18%.
21 February 04:26 PM Profits of three Saudi telecom companies hike 8.5% in 2020
Riyadh – Mubasher: Combined profits of Saudi telecom companies listed on the Saudi Stock Exchange (Tadawul) rose by 8.5% during 2020 or SAR 947 million when compared to a year earlier. The net earnings of three Tadawul-listed telecom operators, …
Financial Results
Arab countries’ share of Egypt’s food exports fell by 3% last year to $1.865 billion.
21 February 02:28 PM Egypt’s food exports total $3.5bn in 2020
Cairo – Mubasher: Egypt’s food exports hit $3.5 billion during the year ended on 31 December 2020, unchanged from 2019 despite the Covid-19 challenges. Exports of food industries of the most populous Arab country ranked third amongst non-petroleum …
Sector Reports
Photo Archive
16 February 04:47 PM Saudi Customs handles SAR 710bn worth of goods since Covid-19 outbreak
Riyadh – Mubasher: Saudi Customs’ ports handled goods worth more than SAR 710 billion during the period from the beginning of the coronavirus pandemic until 8 February 2021. Over 1 billion tonnes of goods were handled during the said period …
Macroeconomics
Photo Archive
15 February 02:53 PM Remittances from Filipinos in GCC down to $5.1bn in 2020
Riyadh – Mubasher: Remittances paid by Filipino labour in GCC countries dropped by 11.21% on an annual basis in 2020. Filipinos’ remittances from the Gulf region registered $5.11 billion last year, compared to $5.76 billion in 2019, according to …
Banking and Finance
Consumer loans rose by 9.5% or SAR 31.6 billion yearly in 2020.
2 February 03:01 PM Personal loans granted by banks in KSA rise 8.7% in 2020
Riyadh – Mubasher: Personal loans granted by financial institutions in Saudi Arabia grew by 8.76% in 2020 or SAR 30.88 billion when compared to the previous year. Financial institutions in the kingdom granted SAR 383.37 billion worth of personal …
Banking and Finance
The unemployment fell to 14.9% in Q3-20 from 15.4% in Q2-20.
2 February 10:45 AM Saudi unemployment rate to improve in Q4 – Jadwa
Riyadh – Mubasher: Saudi Arabia’s unemployment rate is expected to improve during the fourth quarter (Q4) of 2020 as some economic indicators have picked up during the quarter, Jadwa Investment said in its latest Saudi Labor Market Update. Looking …
Sector Reports
The Saudi Central Bank (SAMA)
31 January 01:53 PM Saudi banks raise investments in gov’t bonds 14% in 2020
Riyadh – Mubasher: Banks operating in Saudi Arabia have raised their investments in government-issued bonds by 14.69% year-on-year (YoY) in 2020. Total bank investments in Saudi bonds hit SAR 440.02 billion last year, up by about SAR 56.34 billion …
Bonds
Regional debt issuances are expected to remain robust in 2021.
28 January 12:09 PM GCC debt issuance exceeds $100bn in 2020
Mubasher: GCC debt issuance was strong in 2020, crossing $100 billion on a continued need for budget financing, the National Bank of Kuwait (NBK) said in its latest economic update. The fourth quarter (Q4) of 2020 saw the issuance of about $15 …
Macroeconomics
Manufacturing activities fell by 15.6% annually in November.
27 January 01:29 PM Industrial production in KSA down 10% in November
Riyadh – Mubasher: The Saudi industrial production index (IPI) dropped by 10% on a yearly basis in November 2020 as production in mining and quarrying activity went down by 9%, as shown by official data. Saudi Arabia lowered its oil production …
Macroeconomics
The retail sector in Saudi Arabia saw an immediate impact from the coronavirus.
26 January 12:45 PM Saudi gov’t focus on balancing growth, stability to drive property market - JLL
Riyadh – Mubasher: Saudi Arabia last year remained focused on growth and stability, long-term economic sustainability, diversification, and an enhanced quality of life for its people while much of 2020 prioritised the response to Covid-19. This …
Sector Reports
Saudi Arabia saw a 35% rise in the number of deals from 2019 to 2020.
25 January 03:24 PM KSA startup venture capital funding hits record high of $152m in 2020
Riyadh – Mubasher: Funding in Saudi Arabia-based startups has grown significantly faster than the average in MENA despite the backdrop of Covid-19, according to MAGNiTT’s 2020 Saudi Arabia Venture Capital Report. The region’s 17 countries saw a …
Sector Reports
The average price of UAE Murban crude reached $42.98 per barrel
24 January 01:39 PM UAE Murban tops OPEC's crude oil list in 2020
UAE - Mubasher: The UAE Murban crude topped the global market's best crude oil in terms of quality and price during 2020, according to OPEC's statistics. The average price of UAE Murban crude reached $42.98 per barrel, compared to the other prices …
Macroeconomics
The UAE's non-oil trade is expected to record a 12.9% growth in 2021
24 January 10:45 AM UAE expected to see 13% growth in non-oil trade in 2021
UAE - Mubasher: The UAE is expected to witness a 12.9% year-on-year (YoY) growth rate in its non-oil trade volume in 2021, according to a new analysis from the Dubai Chamber of Commerce and Industry. The increase in the UAE's non-oil trade volume …
Sector Reports