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Sector Reports

Japan’s crude imports decreased by 3.8% annually in February
31 March 12:34 PM Kuwait’s crude oil exports to Japan hit 3 month-low
Mubasher: Kuwait’s crude oil exports to Japan fell by 8% in February 2020 for the first time in three months, Japan’s Natural Resources and Energy Agency said in a preliminary report on Tuesday. Japan’s total oil imports from Kuwait stood at 7.5 …
Sector Reports
The per-litre price of Super 98 recorded AED 2.16
30 March 10:56 AM UAE to lower fuel prices in April
Dubai – Mubasher: The fuel prices follow-up committee of the UAE energy ministry announced a decrease in fuel and diesel prices in April compared to March. The per-litre prices of Super 98, Special 95, diesel, and E-Plus 91 will stand at AED 1.91, …
Commodities
EGP 2.58 billion were directed to the Ministry of Health
25 March 07:34 PM Egypt directs EGP 3.8bn to healthcare against COVID-19
Cairo – Mubasher: The Egyptian Ministry of Finance has dedicated EGP 3.8 billion to support the healthcare sector since the beginning of March, in line with the government’s efforts to combat the outbreak of the coronavirus (COVID-19), minister …
Sector Reports
Egypt's domestic liquidity rose by 0.73% on a monthly basis
23 March 04:35 PM Egypt records EGP 4.14trn domestic liquidity in January 2020
Cairo – Mubasher: Egypt's domestic liquidity rose by 0.73% month-on-month (MoM) to EGP 4.14 trillion in January 2020, versus EGP 4.11 trillion in December 2019, continuing its growth since freeing exchange rates in November 2016. On an annual …
Central Banks
Domestic natural gas consumption increased by 7.8%
23 March 02:07 PM Egypt raises renewables share in energy mix by 3.3%
Cairo – Mubasher: Power generation in Egypt from new and renewable sources has reached 2,871 megawatts per hour (MWh) in 2017/2018, up by 3.3% from 2,780 MWh during 2016/2017. In 2017/2018, the domestic natural gas consumption increased by 7.8% to …
Macroeconomics
Egyptian Minister of Planning, Monitoring, and Administrative Reform
23 March 01:11 PM Egypt invests EGP 28.7bn in energy projects during H1-19/20
Cairo – Mubasher: Egypt has completed a total of 156 projects in the oil, electricity, and renewable energy sectors with total investments of EGP 28.7 billion during the first half (H1) of the fiscal year (FY) 2019/2020. In the electricity and …
Macroeconomics
All inbound and outbound passenger flights will be halted for two weeks
23 March 09:48 AM UAE halts passenger flights for 2 weeks
Abu Dhabi – Mubasher: The National Emergency Crisis and Disasters Management Authority (NCEMA) and the General Civil Aviation Authority (GCAA) have announced the suspension of all inbound and outbound passenger flights in the UAE for two …
Sector Reports
Egyptian Minister of Planning and Economic Development Hala El-Saeed
22 March 03:38 PM Investments in Ras Ghareb wind farm at EGP 12bn - Minister
Cairo – Mubasher: The Ras Ghareb wind farm cost around EGP 12 billion, according to the Egyptian Minister of Planning and Economic Development, Hala El-Saeed. With a power generation capacity of 580 megawatts (MW), the 300-turbine Ras Ghareb wind …
Sector Reports
CBUAE data showed a 4% increase in credit facilities last month
22 March 01:37 PM UAE bank loans rise to AED 1.7bn in February
UAE – Mubasher: Data by the Central Bank of the UAE (CBUAE) showed a 4% increase in the credit facilities granted by local banks to AED 1.745 billion in February 2020 from AED 1.671 billion during the same month of 2019. Loans provided to the …
Banking and Finance
Emirati banks have cut their investments in bonds by AED 1.1 billion
22 March 12:25 PM UAE banks cut investments in bonds, stocks in February
UAE – Mubasher: Banks in the UAE have lowered their investments in debt securities and stocks by AED 1.3 billion ($353.84 million) by the end of February 2020, according to data by the Central Bank of the UAE (CBUAE). The Emirati banks have cut …
Banking and Finance
Photo Archive
21 March 08:56 PM Mobile operators in Kuwait offer free calls, internet
Mubasher: The three mobile telecom service providers in Kuwait will offer every subscriber five gigabytes (GB) of internet usage free of charge every day for a month, Kuwait News Agency (KUNA) reported. The Communication and Information Technology …
Sector Reports
Buses, trains, and taxis will be suspended for 14 days
20 March 02:34 PM Saudi Arabia halts transportation services on coronavirus fears
Riyadh – Mubasher: Saudi Arabia has suspended the operations of various components across the transportation sector for two weeks, as part of efforts to control the spread of the new coronavirus (COVID-19). The move comes in line with …
Global Economy
The total assets of the UAE banks jumped by 6.4%
18 March 04:13 PM UAE banks assets hit AED 3trn in February
UAE – Mubasher: Total assets of UAE banks jumped by 6.4% or AED 186 billion to AED 3.095 trillion last month, from AED 2.909 trillion during February 2019, Emirates News Agency (WAM) reported. With this increase, the UAE banking sector recorded …
Sector Reports
Dubai's property transactions soared by 33% in February
18 March 11:17 AM Property Finder sees hike in Dubai’s real estate transactions in Q1-20
Dubai – Mubasher: Property Finder, an online property portal that helps buyers and renters in the MENA region find a home, reported a surge in real estate transactions in Dubai during the early months of 2020, ahead of concerns regarding the …
Real estate
Aldar Properties has unveiled AED 100 million programmes
17 March 05:14 PM Aldar launches AED 100m programmes
Abu Dhabi – Mubasher: Aldar Properties has unveiled AED 100 million programmes to support residents, tenants, customers, and partners. These programmes are in line with the company’s long-term sustainable stakeholder management approach, according …
Sector Reports
Revenues amounted to KWD 14.31 billion in 11M
17 March 02:31 PM Kuwait’s oil revenues down 17% in 11M
Mubasher: Kuwait’s oil revenues decreased by 16.7% on an annual basis during the first 11 months of the fiscal year (FY) 2019/2020, according to recent data by the Ministry of Finance. Revenues for the period amounted to KWD 14.31 billion ($46.46 …
Commodities
Sharjah welcomed around 1.8 million hotel guests last year
14 March 03:51 PM Sharjah’s hotel occupancy rate reaches 66% in 2019
UAE – Mubasher: Sharjah recorded a 3% growth in the number of hotel guests last year, as shown by the data of the Sharjah Commerce and Tourism Development Authority (SCTDA). The emirate received around 1.8 million hotel guests in 2019 with a hotel …
Sector Reports
Kuwait’s expenditures and commitments surged by 8.1% in 11M
12 March 03:59 PM Kuwait’s budget deficit up KWD 1.8bn in 11M
Mubasher: Kuwait’s budget deficit increased by KWD 1.825 billion ($5.9 billion) over the 11-month period ended on 29 February 2020, after transferring the Future Generations Fund’s reserve, which represents 10% of the country’s total revenues. The …
Sector Reports
Local liquidity inched down by 0.19% monthly in January
11 March 09:11 AM Kuwait’s local liquidity down 1% in January
Mubasher: Local liquidity in the Kuwaiti banking sector declined by 1.39% on an annual basis by the end of January 2020 for the third consecutive month, according to recent data by the Central Bank of Kuwait (CBK). Money supply (M2) in Kuwaiti …
Banking and Finance
Foreign reserves grew by 1.5% monthly last January
10 March 12:42 PM Kuwait's foreign reserves top KWD 12bn in January
Mubasher: Kuwait’s foreign reserves registered an annual rise by 7.6% or KWD 865 million ($2.84 billion) last January, according to recent monthly data by the Central Bank of Kuwait (CBK). The foreign reserves amounted to KWD 12.27 billion ($40.31 …
Sector Reports
Net foreign assets levelled up by 0.71% in January on a monthly basis
10 March 10:50 AM Kuwaiti banks' net foreign assets hit KWD 19bn in January
Mubasher: Net foreign assets of the Kuwaiti banking sector grew by 7.3% by the end of January 2020 to stand at KWD 19.37 billion ($63.65 billion), compared to KWD 18.05 billion ($59.31 billion) in January 2019, according to recent data by the …
Macroeconomics
The number of certificates of origin to the GCC countries registered 810
8 March 01:15 PM Kuwait's non-oil exports fall 29% in February
Mubasher: The Kuwaiti non-oil exports value shrank by 29% on an annual basis last February, according to a statement by the Ministry of Commerce and Industry on Sunday. The number of certificates of origin for Kuwaiti non-oil exports to Arab and …
Sector Reports
MSME finances amounted to SAR 117.26 billion last year
5 March 03:44 PM MSME finances in Saudi Arabia grow 8% in 2019 - SAMA
Riyadh – Mubasher: Financing micro, small, and medium-sized enterprises (MSMEs) in Saudi Arabia increased by 8.05% or SAR 8.74 billion by the end of the fourth quarter (Q4) of 2019. Total finances amounted to SAR 117.26 billion by the end of last …
Banking and Finance
Non-Saudi residents accounted for 77.4% of the number of employees
4 March 02:19 PM Number of expat workers in KSA down 0.8% in Q3-19
Riyadh – Mubasher: The number of private and public sector employees in Saudi Arabia decreased by 0.57% in the third quarter (Q3) of 2019, compared with Q2-19. The number reached 8.47 million in Q3-19, compared with 8.52 million in Q2-19, the …
Sector Reports
Abu Dhabi saw around 19,000 real estate transactions in 2019
4 March 01:42 PM Abu Dhabi’s real estate transactions record AED 58bn in 2019
UAE – Mubasher: The total value of real estate transactions in Abu Dhabi reached AED 58 billion in 2019, according to data by the Abu Dhabi Department of Municipalities and Transport (Abu Dhabi DMT). Abu Dhabi saw around 19,000 real estate …
Real estate