Sector Reports

Saudi economy to grow in 2018 – IMF
1 hour ago Saudi economy to grow in 2018 – IMF
Riyadh – Mubasher: The International Monetary Fund (IMF) expected Saudi Arabia’s economy to grow this year and over the medium-term, helped by the kingdom’s recent economic and social reforms. The Washington-based fund also forecast that the GCC …
The country’s industrial output amounted to EGP 145.3 billion from July to September 2017
21 May 03:56 PM Egypt industrial production rises 7.2% in Q3-17 – CAPMAS
Cairo – Mubasher: Egypt’s industrial production, excluding crude oil and petroleum products, jumped 7.2% year-on-year in the third quarter of 2017, Central Agency for Public Mobilization and Statistics (CAPMAS) said. The country’s industrial …
Total circulated currency notes and coins grew to KWD 1.69 billion in April
21 May 01:46 PM Kuwait’s circulated currency up in April – Kuwait C.bank
Mubasher: The circulated currency cash in Kuwait with all its types increased by 0.6% in April 2018 when compared to the same month a year ago, according to a recent statement by the Central Bank of Kuwait (CBK). Total circulated currency notes …
Dubai’s handovers to hit 21,000 homes by end-2018
20 May 03:06 PM Dubai’s handovers to hit 21,000 homes by end-2018
Dubai – Mubasher: New homes which are expected to be handed over in Dubai may exceed 21,500 by the end of 2018, a recent report revealed. The emirate’s developers have delivered more than 6,000 residential units to date this year, the report said, …
Annual inflation fell to 12.9% in April 2018
20 May 03:02 PM Fuel subsidy cuts to raise Egypt's inflation
Cairo – Mubasher: Egypt’s inflation is expected to rise in the coming period as the government plans to slash fuel subsidy next July, Bloomberg News has said. This reduction will take its toll on the Central Bank of Egypt’s (CBE) measures to lower …
The statement attributed the drop to the decrease of the mining segment by 4.9%
20 May 01:19 PM Qatar’s IPI drops 4.4% in March
Mubasher: Qatar’s industrial production index (IPI) retreated 4.4% year-on-year to 103.4 points in March 2018, the Ministry of Development Planning and Statistics (MDPS) said in a statement. The manufacturing index of the world’s biggest liquefied …
Yields on 8-9 year sovereign debt for GCC sovereigns hiked 40-64 bps in Q1-18
20 May 12:49 PM GCC debt issuance hits $12bn in Q1 - Report
Mubasher: The GCC debt issuance was relatively calm in the three-month period ended March 2018, registering $12 billion, according to National Bank of Kuwait’s (NBK) recent report. However, still-favourable borrowing costs, high oil prices, and …
Photo Archive
17 May 03:32 PM Saudi banks benefit from lower interest, credit costs - Moody's
Riyadh - Mubasher: The Saudi banking sector saw a decline in interest expenses by 12.5% year-on-year, and 2% quarter-on-quarter. This reflects improving funding conditions in Saudi Arabia after significant tightening in 2016, according to a recent …
Saudi foreign assets declined SAR 59.3 billion in Q1-18
17 May 12:33 PM Saudi foreign assets fall 3.1% in Q1 – SAMA
Riyadh – Mubasher: Saudi Arabia's foreign assets dropped 3.1% year-on-year for the first quarter of 2018. Saudi foreign assets declined SAR 59.3 billion in Q1-18, according to the Saudi Arabian Monetary Authority’s (SAMA) recent data. On a …
The insurance sector's Saudisation increased by more than 20% over the last 15 months
16 May 05:24 PM Insurance sector Saudisation rises to 70% in Q1-18 – SAMA
Riyadh – Mubasher: Saudisation rate in the kingdom's insurance sector exceeded 70% for the first quarter of 2018, according to the Saudi Arabian Monetary Authority's (SAMA) recent statement. The insurance sector's Saudisation increased by more …
Total value of premiums decreased by 1% or SAR 352 million to SAR 36.5 billion in 2017
15 May 01:19 PM Saudi insurance sector posts SAR 449m profit in 2017 – SAMA
Riyadh – Mubasher: The Saudi insurance sector’s operating profits via initial public offerings (IPOs) amounted to SAR 449 million in 2017, down from SAR 2.12 billion a year earlier, the Saudi Arabian Monetary Authority’s (SAMA) annual report …
Saudi Arabia raised its production by 46,500 bpds in April
14 May 02:54 PM Qatar's oil output falls to 590,000 bpds in April
Mubasher: Qatar has reduced its oil production by 4,300 barrels per day (bpds) to 590,000 bpds in April 2018, from 595,000 bpds a month earlier, Organization of the Petroleum Exporting Countries’ (OPEC) report showed. Venezuela also trimmed its …
Banks’ investment portfolio significantly rose in the first three months of 2018
13 May 05:12 PM Saudi banks’ net profit grows 7% in Q1
By: Thabet Shehata Riyadh – Mubasher: Consolidated profits of banks operating in Saudi Arabia increased 7.4% year-on-year to SAR 12.51 billion in the first three months of 2018, up from SAR 11.64 billion. Banks’ investment portfolio significantly …
Kuwait’s non-oil exports decreased to KWD 11.6 million in March
13 May 04:23 PM Kuwait’s non-oil exports shrink 27% in March
Mubasher: The non-oil exports in Kuwait decreased by 27% in March 2018 compared to the same month in 2017, according to recent data by the commerce and industry ministry of Kuwait. Kuwait’s non-oil exports decreased to KWD 11.6 million ($38.5 …
JLL’s report further noted that prices of residential units saw steep drop
13 May 03:46 PM Expats leaving Saudi Arabia push rent prices down in Q1 – Report
Riyadh – Mubasher: The retail and residential sectors in Saudi Arabia saw a negative performance in the first quarter of 2018, whereas office rents remained stable, JLL’s report revealed on Sunday. Meanwhile, the kingdom’s hospitality sector …
The handled containers amounted to 1.55 million
13 May 02:47 PM Saudi ports see 70.3m tonnes handled goods in Q1 – MAWANI
Riyadh – Mubasher: Goods handled in Saudi Arabia hit 70.3 million tonnes for the first quarter of 2018, while the total volume of containers reached 17.3 million tonnes, Saudi Ports Authority (MAWANI) said. The handled containers amounted to 1.55 …
Eid al-Fitr's holiday will start on Tuesday, 12 June
10 May 03:41 PM Tadawul announces Ramadan trading hours, Eid al-Fitr holiday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) on Thursday has revealed that trading hours during Islam's holy month of Ramadan will start at 10:00 am Saudi time and end at 3:00 pm. Eid al-Fitr's holiday, three-day Muslim festival marks the …
Saudi non-oil merchandise exports to the GCC nations rose 2.9% to SAR 49.98 billion in 2017
10 May 03:24 PM Saudi registers $1.2bn trade surplus with GCC in 2017 – GASTAT
Riyadh – Mubasher: Saudi Arabia has recorded a SAR 4.6 billion ($1.23 billion) trade surplus with the GCC in 2017, compared to SAR 7.56 billion ($2.02 billion) in the year before. Saudi non-oil merchandise exports to the GCC nations rose 2.9% to …
Total production of Saudi cement companies fell 7.4% to 4.2 million tonnes last month
10 May 12:48 PM Saudi cement sales fall 9.5% in April - Report
Riyadh – Mubasher: Sales of cement companies operating in Saudi Arabia registered a 9.52% year-on-year decrease in April 2018, compared to the same month a year earlier. Cement sales hit 4.2 million tonnes in April, versus 4.64 million tonnes in …
"We have successfully redesigned the current airspace"
9 May 07:02 PM Dubai’s aviation movement doubles in 8 yrs
Dubai – Mubasher: The emirate of Dubai has implemented advanced procedures to maintain the safety of passengers flying in and out of the emirate. Dubai Air Navigation Services (DANS) developed its operations to keep up with the needs of the …
The kingdom posted a trade surplus of SAR 327.43 billion ($87.3 billion) last year
9 May 04:41 PM Saudi posts SAR 164.6bn trade surplus in 2017 – GASTAT
Riyadh – Mubasher: Saudi Arabia's trade surplus registered a 101% year-on-year jump or SAR 164.6 billion (43.9 billion) for the full fiscal year 2017, compared to a year earlier. The kingdom posted a trade surplus of SAR 327.43 billion ($87.3 …
The tobacco section registered a 54.4% rise in the three-month period ended March 2018
9 May 02:08 PM Saudi inflation rises 2.9% in Q1 - SAMA
Riyadh – Mubasher: The Saudi cost of living index (inflation) has increased 2.9% year-on-year during the first quarter of 2018, the Saudi Arabian Monetary Authority (SAMA) said. The tobacco section registered a 54.4% rise in the three-month period …
The kingdom’s revenue increased to SAR 52.3 billion ($14 billion) in Q1-18
8 May 10:59 AM Saudi non-oil income hikes 63% in Q1 on higher tax receipts
Riyadh – Mubasher: Saudi Arabia’s non-oil income jumped 63% in the three-month period ended March 2018, helped by improved tax receipts.  The kingdom’s revenue increased to SAR 52.3 billion ($14 billion) in Q1-18, on the back of introducing the …
The Emirati banks are expected to keep their positive results in 2018
7 May 06:12 PM 10 ADX-listed banks gain AED 5.5bn in Q1
By: Mahmoud Gamal Abu Dhabi – Mubasher: Ten banks and financial companies listed on the Abu Dhabi Securities Exchange (ADX) achieved a combined 5% growth in their net profits during the first quarter of 2018 on the back of higher revenues and a …
Non-oil exports from Saudi Arabia to the GCC countries increased by 11.6%
6 May 04:13 PM Saudi non-oil trade deficit with GCC hits SAR 3bn in February
Riyadh – Mubasher: Saudi Arabia has registered a non-oil trade deficit of SAR 3.13 billion ($835 million) with the GCC states in February 2018 compared to SAR 33 million ($8.8 million) in the same month a year earlier, according to the latest …