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he US treasury securities value rose by 5.2% year-on-year in May 2019
17 July 04:56 PM Saudi Arabia’s holdings of US treasuries up 10% in May
By: El-Sayed Gamal Riyadh- Mubasher: Saudi Arabia registered a 10.36% year-on-year rise in the US treasury bonds during May 2019, raising its stake of the US treasuries for the fourth month in a row. Saudi Arabia’s holdings of the US treasury …
Abu Dhabi’s residential capital values fell 3.3% Q-o-Q in Q2
17 July 12:11 PM Abu Dhabi’s residential capital values slip 13.3% in Q2 - ValuStrat
UAE – Mubasher: Abu Dhabi’s residential capital values fell by 13.3% year-on-year in the second quarter of 2019, according to a report issued by the Dubai-based leading consulting and advisory group ValuStrat. Quarter-on-quarter, residential …
The new initiatives aim to encourage foreigners to invest in the UAE’s real estate market
15 July 03:38 PM UAE real estate market to revive on gov’t initiatives - JLL
UAE - Mubasher: The recently launched initiatives by the UAE government are likely to boost the real estate market within the state over the coming months, according to JLL’s UAE Market report for the second quarter of 2019. The new initiatives …
The consumer goods sector topped winners with 3.41%
14 July 02:46 PM DFM adds 19.20 pts at Sunday’s close
Dubai – Mubasher: The Dubai Financial Market (DFM) closed Sunday’s trading session in green territory on the back of rising blue-chip stocks. The DFM’s general index rose 19.20 points, or 0.71%, finishing the session at 2,704.78 points. Trading …
PwC forecast that AI would contribute $320 billion to the Middle East’s economy by 2030
14 July 01:48 PM AI to boost Middle East’s GDP by 11% by 2030 - PwC
UAE - Mubasher: Decision makers in the Middle East are looking to embrace artificial Intelligence (AI) in their business, according to a recent report by PwC. Almost 91% of the Middle Eastern CEOs interviewed by PwC would adopt AI in conducting …
The real estate sector grew 3.7%
12 July 10:49 PM DFM rises 25 pts in week
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index went up 25.05 points, or 0.9%, to 2,660.53 points in a week. Market capitalisation increased to AED 353.113 billion over the week, compared to AED 352.94 billion a week earlier. …
The increase in inflation was primarily caused by seven key groups
11 July 05:20 PM GCC inflation inches up to 0.3% in April
Mubasher: The Consumer Price Index (CPI), excluding housing, has marginally risen in the GCC by 0.3% year-on-year last April. The inflation rate registered 134.8 points in April 2019, compared to 134.5 points in the corresponding month last year, …
Saudi non-oil private sector is expected to grow by 2.4% in 2019
11 July 12:07 PM Saudi non-oil private sector to grow 2.4% in 2019 – Report
Riyadh – Mubasher: The Saudi non-oil private sector is expected to grow by 2.4% in 2019, compared to 2% in 2017, according to Jadaw Investment’s recent report. “Our economic forecast for the Kingdom has been revised down wholly on the account of …
German tourists come in second place among the most European visitors to Dubai
9 July 04:03 PM German tourists to Dubai grow 5% YoY in 5M
By: Mahmoud Gamal Dubai – Mubasher: The number of German tourists who visited the emirate of Dubai during the first five months of 2019 reached 291,000, rising 5% year-on-year from 278,000 people. German visitors to the GCC emirate during the …
Almarai’s bakery segment profits are expected to grow to 12% in H1-19
9 July 12:14 PM Al Rajhi Capital cuts Almarai’s TP to SAR 51/shr
Riyadh – Mubasher: Al Rajhi Capital has decreased Almarai Co’s target price (TP) to SAR 51 per share instead of SAR 51.60 a share. “We continue to value Almarai on equal weights for DCF (3.0% terminal growth, 36% debt in capital structure and 7.3% …
The move is part of ADDED’s strategy to improve the industrial sector in the emirate
9 July 09:33 AM Abu Dhabi adds commercial, service activities to industrial licence
UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has issued a new administrative resolution, Number 70 of 2019, that enables licensed industrial companies within the UAE’s capital to add commercial and service activities to …
Dubai's non-oil private sector business activity accelerated at the highest pace since 2010
9 July 09:09 AM Dubai’s non-oil private sector marks sharp growth in June
UAE – Mubasher: The non-oil private sector business activity within the emirate of Dubai expanded in June, accelerating at the highest pace since 2010, according to a recent survey sponsored by Emirates NBD and produced by IHS Markit. However, …
The receivables were sold to Al Rajhi Bank in exchange for a cash inflow of SAR 160 million
8 July 01:44 PM Al Rajhi Capital raises eXtra’s TP to SAR 80/shr
Riyadh – Mubasher: Al Rajhi Capital has raised United Electronics Company’s (eXtra) target price (TP) to SAR 80 per share instead of SAR 69.3 a share, implying a rating of “Overweight” with an upside potential of 15.4%, supported by higher growth …
In Dubai, hotel occupancy at the Dubai Creek and Festival City is likely to stand at 81% in 2019
8 July 12:05 PM RevPAR of UAE’s hotels to see negative performance in 2019 - Colliers
UAE – Mubasher: Revenue per available room (RevPAR) of hotels in the emirates of Dubai, Ras Al Khaimah, Sharjah, and Fujairah are likely to see a negative performance in 2019, while Abu Dubai hotels’ RevPAR is projected to grow slightly, according …
AUB Kuwait is forecast to have the lowest growth rate of 3.6% in profits
7 July 12:13 PM Kuwait’s banks likely to see 10% rise in H1-19 profits – Analyst
By: Mohamed Farouk Mubasher: Ten Kuwaiti banks listed on Boursa Kuwait are expected to achieve an increase of 9.6% in profits during the first half of 2019, compared to the year earlier, capital market analyst Ahmed Jassim Al Qamr told Mubasher. …
Australia ranked the first among countries exporting to Abu Dhabi
4 July 05:55 PM Abu Dhabi’s foreign trade drops 7.2% YoY in April 2019
UAE – Mubasher: Abu Dhabi’s foreign trade decreased by 7.2% Year-on-Year in April 2019, according to recent data issued by the Statistics Centre − Abu Dhabi (SCAD). The data indicated that Abu Dhabi’s trade tumbled to AED 19.673 billion in April …
Talaat Moustafa Group Holding recorded revenues of EGP 2.24 billion
4 July 04:54 PM EGX-listed real estate firms post EGP 6.6bn revenues in Q1
By: Abdullah Bedeir Cairo – Mubasher: Revenues of real estate companies listed on the Egyptian Exchange (EGX) grew by 5.49% year-on-year during the first quarter of 2019, according to statistics conducted by Mubasher. From January to March, …
Total inflows of FDI in Egypt registered $10.2 billion
4 July 04:29 PM Egypt's net FDI drops to $4.6bn in 9M – CBE
Cairo – Mubasher: Net foreign direct investment (FDI) in Egypt went down 22.8% year-on-year during the first nine months of fiscal year 2018/2019, data by the Central Bank of Egypt (CBE) revealed on Thursday. Net FDI in the North African nation …
The emirate’s re-exports rose by 19% to AED 17.2 billion during the four-month period
4 July 03:47 PM Abu Dhabi’s non-oil trade hits AED 71.4bn in 4M
UAE – Mubasher: The non-oil trade through the emirate of Abu Dhabi edged up by 0.5% year-on-year during the first four months of 2019 to AED 71.44 billion from AED 71.4 billion, data by the Statistics Centre Abu Dhabi (SCAD) showed. The emirate’s …
The number of Saudi users will increase to approximately 82.6% of the kingdom’s population in 2022
4 July 03:21 PM Saudi Arabia’s internet users to reach 30m by 2022 – Cisco
Riyadh – Mubasher: Internet users in Saudi Arabia are expected to reach 30 million by 2022, according to Cisco’s Visual   Networking Index  (VNI) Forecast. The index predicts that around 4.8 billion internet users will be connected globally by …
Egypt’s non-oil exports to Arab countries reached $792 million
3 July 10:31 PM Egypt’s non-oil exports hit $2.3bn in May
Cairo – Mubasher: Egypt’s non-oil exports grew 1.7% year-on-year in May, the monthly report of the General Organization for Export & Import Control (GOEIC) showed. Egyptian non-oil exports reached $2.28 billion in May, compared to $2.24 billion a …
Inflation rate is expected to remain flat over the coming two years
3 July 02:53 PM UAE non-oil economy to see steady growth by 2021 - Report
UAE – Mubasher: The UAE’s economic performance is likely to grow steadily, with non-oil economic growth reaching 3.6% by 2021, according to the National Bank of Kuwait’s (NBK) UAE outlook report. The GCC state’s inflation rate is expected to …
Production and new orders have improved considerably in June
3 July 11:35 AM Egypt’s non-oil private sector sees slower decline in June – PMI
Cairo – Mubasher: Egypt’s non-oil private sector has witnessed a modest drop in production in June, on the back of a slight retreat in new orders, according to a report compiled by IHS Markit for Emirates NBD PJSC.  The seasonally adjusted …
Output growth in Saudi Arabia’s non-oil private sector slowed to a three-month low during June
3 July 10:02 AM Saudi non-oil sector marks 19M growth in June – PMI
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector continued to expand in June on the back of slightly faster new work growth, according to a report compiled by IHS Market for Emirates NBD. The seasonally adjusted Emirates NBD Saudi Arabia …
The non-oil private firms have seen a sharp expansion in business activity in June
3 July 09:43 AM New orders prop up UAE non-oil private sector growth in June
UAE – Mubasher: Business conditions of the non-oil private sector in the UAE have signalled an improvement in June, backed by solid expansion in new orders, a recent survey sponsored by Emirates NBD and produced by IHS Markit revealed. The …