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Sector Reports

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6 February 09:35 AM Egypt’s net foreign reserves up to $35.2bn in January
Cairo – Mubasher: Egypt’s net international reserves increased to $35.24 billion at the end of January 2024 from $35.21 billion in December 2023. The registered amount was also higher than $35.17 billion at the end of November 2023, according to …
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5 February 04:53 PM Egypt’s January PMI declines amid hiking price pressures
Cairo – Mubasher: Egypt’s headline seasonally adjusted Purchasing Managers’ Index (PMI) recorded a further decline in operating conditions at the start of 2024, according to the latest S&P Global PMI data. The PMI declined to 48.1 in January 2024 …
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5 February 03:58 PM Saudi non-oil sector witnesses steady growth; PMI hits 55.4 in January
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia dropped to 55.4 in January from 57.5 in December 2023, according to Riyad Bank’s latest data. The PMI reading was at its lowest level in exactly …
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5 February 02:03 PM UAE’s PMI falls to 5-month low in January
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) hit 56.6 in January 2024, lower than 57.4 in December 2023, according to the latest S&P Global PMI data. This PMI marks the lowest reading for five months, while job …
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21 January 03:15 PM Moody's changes Egypt’s outlook to negative, maintains 'Caa1' ratings
Cairo – Mubasher: Moody's Investors Service changed the outlook on Egypt’s government to negative from stable and affirmed the 'Caa1' long-term foreign as well as local currency issuer ratings. The rating agency also affirmed the Arab Republic's …
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4 January 04:45 PM Egypt’s PMI ends 2023 slightly up to 48.5
Cairo – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Egypt rose to 48.5 in December 2023 from 48.4 last November, according to the latest S&P Global PMI data. The index highlighted a modest deterioration in the …
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4 January 01:56 PM UAE’s December PMI marks second-highest since mid-2019
UAE - Mubasher: The seasonally adjusted Purchasing Managers' Index (PMI) of the UAE increased to 57.4 in December 2023 from 57 last November, according to the latest S&P Global PMI data. The PMI reading recorded its second-highest reading since …
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3 January 03:46 PM Saudi non-oil sector improves in 2023-end; PMI hits 57.5
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) remained unchanged at 57.5 in December 2023 when compared to November a month earlier, according to Riyad Bank’s latest data. The reading marked an …
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2 January 05:43 PM Oman's non-oil exports to Saudi Arabia surge 25.5%
Riyadh – Mubasher: Non-oil exports from Oman to Saudi Arabia climbed by 25.50% to OMR 774 million year-on-year (YoY) until September 2023, according to the Omani Ministry of Commerce, Industry, and Investment Promotion (MoCIIP). Jassim bin Saif Al …
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26 December 2023 05:02 PM Kuwait's Q2-23 trade deficit with GCC shrinks to lowest level since Q1-22
Mubasher: Kuwait's trade deficit with the GCC countries dropped in the second quarter (Q2) of 2023 to its lowest level since Q1-22 when it recorded KWD 262.30 million, driven by higher exports and lower imports. Kuwait registered a trade deficit …
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25 December 2023 04:55 PM Egypt's budget deficit nears 4% in Q1-23/24
Cairo – Mubasher: The budget deficit-to-gross domestic product (GDP) ratio of Egypt rose to 3.85% during the first quarter (Q1) of fiscal year (FY) 2023/2024, compared to 2.05% in the same quarter a year ago, according to the Ministry of Finance's …
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24 December 2023 03:42 PM HKMA, ADGM sign MoU to boost fintech, data collaboration
UAE – Mubasher: Hong Kong's Monetary Authority (HKMA) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) signed a memorandum of understanding (MoU) to deepen their ongoing partnership on fintech. The MoU aims …
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20 December 2023 05:53 PM Dubai International Chamber expands global network with 92 more businesses in 9M-23
UAE  – Mubasher: Dubai International Chamber has attracted 92 total new businesses to Dubai in the first nine months (9M) of 2023. Among the entities were 15 multinational companies and 77 small and medium-sized enterprises (SMEs). The chamber …
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11 December 2023 07:29 PM Egypt’s annual headline inflation hits 36.4% in November – CAPMAS
Cairo – Mubasher: The consumer price index (CPI) of Egypt reached 191.8 points in November 2023, according to the latest data by the Central Agency for Public Mobilization and Statistics (CAPMAS). Accordingly, the annual headline inflation of …
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7 December 2023 06:58 PM Egypt’s net foreign reserves surge nearly 5% in November
Cairo – Mubasher: The latest data by the Central Bank of Egypt (CBE) showed that the country’s net international reserves amounted to $35.17 billion at the end of November 2023. The registered amount marked a 4.89%% year-on-year (YoY) increase …
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7 December 2023 04:14 PM Egypt’s trade deficit exceeds $3bn in September 2023 – CAPMAS
Cairo – Mubasher: The trade balance value of Egypt witnessed a deficit amounting to $3.14 billion in September 2023, which marked a 10.3% annual increase from $2.84 billion, according to the monthly data by the Central Agency for Public …
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6 December 2023 03:17 PM Saudi non-oil activities boom in November despite price pressures
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia dropped to 57.5 in November 2023 from 58.4 in October this year. The lower reading was attributed to moderations in the rate of staff and …