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Sector Reports

Saudi bank investments in gov't bonds grew by 1.7% monthly
1 July 01:34 PM Saudi banks raise investments in gov’t bonds 20% in May
By: El-Sayed Gamal  Riyadh – Mubasher: Banks operating in Saudi Arabia have increased their investments in government-issued bonds by 20.2% year-on-year (YoY) in May 2020, equivalent to SAR 70.65 billion. Total bank investments in Saudi bonds came …
Banking and Finance
The UAE has kept the fuel prices unchanged for July
30 June 01:26 PM UAE fuel prices unchanged fourth month in row
UAE - Mubasher: The UAE has kept the fuel prices unchanged for July 2020, marking the fourth month in a row, the fuel price follow-up committee announced on Tuesday. The per-litre prices of Super 98-octane gasoline, Special 95-octane gasoline, …
Macroeconomics
The total facilities offered to the sector rose to AED 108.5bn
29 June 03:14 PM UAE banks offer wholesale sector AED 3.7bn facilities in Q1
UAE - Mubasher: Banks operating in the UAE have provided the wholesale trade sector with facilities worth AED 3.7 billion in the first quarter (Q1) of 2020, up 3.7% when compared to December 2019, Emirates News Agency (WAM) reported. …
Sector Reports
Saudi government current account slid by 62% YoY in May
29 June 01:25 PM Saudi gov’t reserve declines 12% in May
Riyadh - Mubasher: Saudi Arabia’s government reserve shrank by SAR 57.3 billion ($15.3 billion) or 12% annually in May 2020. The reserve amounted to SAR 419.6 billion ($111.9 billion) by the end of May, decreasing by SAR 50 billion on a monthly …
Banking and Finance
Remittances rose to SAR 55.48 billion ($14.79 billion)
29 June 01:07 PM Expat remittances in Saudi Arabia up 5% in 5M
Riyadh - Mubasher: Remittances by expatriates in Saudi Arabi posted a 5.37% year-on-year (YoY) growth during the first five months of 2020, increasing by SAR 2.83 billion ($754 million). Remittances came at SAR 55.48 billion ($14.79 billion) in …
Banking and Finance
Dubai has completed the National Disinfection Programme
29 June 12:22 PM DMCA lifts restrictions on Dubai's maritime activities
UAE - Mubasher: Dubai Maritime City Authority (DMCA) has lifted the timing restrictions on maritime activities following the return of Dubai's maritime sector to its normal state. The emirate has completed the National Disinfection Programme to …
Sector Reports
Foreign reserves were marginally up by 0.15% monthly in May 2020
29 June 11:39 AM Saudi foreign reserves down 13% in May
Riyadh - Mubasher: The Saudi foreign reserves assets reached SAR 1.685 trillion ($449.31 billion) in May 2020, down by 13.1% from SAR 1.939 trillion ($517.09 billion) in the corresponding month in 2019. On a monthly basis, foreign reserves were …
Central Banks
China was the kingdom's main destination for exports
25 June 11:05 AM Saudi merchandise exports slide 59% in April
Riyadh - Mubasher: Saudi merchandise exports fell by 58.6% year-on-year (YoY) in April 2020 to stand at SAR 37.11 billion, according to data by the Saudi General Authority for Statistics (GaStat). The drop is primarily due to lower oil exports by …
Sector Reports
The number of mobile internet users will amount to 344m in 2025
24 June 12:58 PM UAE's 5G stations reach 2,200 in Q1-20
UAE - Mubasher: The number of fifth-generation (5G) network base stations in the UAE amounted to 2,200 by the end of the first quarter (Q1) of 2020, covering 15% of the country's inhabited area, according to the Emirates News Agency (WAM). …
Sector Reports
Prices of refined petroleum products shrank by 20.9% in May 2020
24 June 12:55 PM Saudi wholesale price index falls to 15-month low in May
Riyadh – Mubasher: The general wholesale price index (WPI) in Saudi Arabia fell by 2.1% in May 2020 to mark the first drop since February 2019, after easing to 0.6% in the previous month. The fall was primarily driven by a plunge in the prices of …
Macroeconomics
Rents for housing inched down by 0.4% in May
24 June 12:25 PM Saudi inflation up 1.1% in May
Riyadh – Mubasher: The Saudi Consumer Price Index (CPI) levelled up by 1.1% in May 2020, versus a 2.9% drop in the corresponding month a year earlier. The food and beverages and the miscellaneous goods and services categories contributed the most …
Macroeconomics
Saudi cement volume for H1-20 could grow by nearly 10% YoY
24 June 11:18 AM Moderate growth in Saudi cement sector amid COVID-19
Riyadh - Mubasher: The Saudi cement industry exhibited a moderate rise of 11% in the demand for cement during the first five months of 2020, compared to the same period in 2019, amidst the imposed lockdown due to the coronavirus (COVID-19). Al …
Ratings
Central Bank of Kuwait
23 June 05:48 PM Kuwaiti bank assets down first time in 6M
Mubasher: The total assets of banks operating in Kuwait declined during April, for the first time in six months, specifically since October 2019. Assets decreased by 0.48% in April 2020 to KWD 72.44 billion ($235.76 billion), compared with KWD …
Banking and Finance
The UAE has invested AED 22 billion in the aviation sector
23 June 03:42 PM UAE's trade in aircraft, spaceships amounts to AED 28.2bn in 2019
UAE - Mubasher: The UAE's trade of aircraft and spaceships reached around AED 28.2 billion in 2019, according to statistics by the Federal Competitiveness and Statistics Authority (FCSA). The country's imports of aircraft and spaceships amounted …
Macroeconomics
Embracing new technologies is seen to impact all sectors of the economy
23 June 12:10 PM Saudi warehousing industry exhibits healthy growth - Report
Riyadh - Mubasher: The warehousing industry in Saudi Arabia is witnessing healthy growth, mainly driven by technological advances. The rise of automation and value-added services to attain competitive differentiation is revolutionising the way …
Sector Reports
Central Bank of Kuwait
23 June 11:02 AM Kuwaiti banks provide KWD 2.7bn finances in 3M
Mubasher: Local banks in Kuwait have provided KWD 2.7 billion ($8.9 billion) worth of credit facilities to businesses under the economic stimulus package, launched by the government early April, Kuwait News Agency (KUNA) reported. Around 80% of …
Sector Reports
Riyadh came in first place in terms of spending
21 June 03:33 PM Saudi POS sales slide 7% in week
Riyadh - Mubasher: Sales transactions through points of sale (POS) across Saudi Arabia slipped by 7.1% during the period from 7 to 13 June 2020, registering SAR 7.3 billion when compared to SAR 7.85 billion a week earlier. The number of …
Macroeconomics
Al Sudairy expects the real estate finance sector to double in 10 years
21 June 02:14 PM Amlak CEO: Our IPO came at the right time – Interview
By: Mahmoud Salah El-Din Mubasher: The recently announced initial public offering (IPO) of Amlak International for Real Estate Finance is part of the company’s strategy since its inception, especially as it is achieving strong growth, according to …
Sector Reports
These incentives included facilities and grants
21 June 01:48 PM UAE launches 227 economic incentives in 3M amid COVID-19
UAE - Mubasher: The UAE government has launched more than 227 economic and trade incentives from March to June to promote economic growth and support the business sector amid the coronavirus (COVID-19) crisis. From 11 April to 4 June, the UAE has …
Macroeconomics
The resident deposits increased by 2.7%
21 June 12:02 PM UAE bank deposits amount to AED 1.865trn in 3M
UAE – Mubasher: Bank deposits in the UAE rose by 2.1% or AED 37.1 billion to AED 1.865 trillion from March to May, compared to AED 1.828 trillion in February. The resident deposits increased by 2.7% or AED 43.1 billion to AED 1.662 trillion from …
Sector Reports
ENOC group saw increased use of cashless payments in the UAE
17 June 06:14 PM ENOC records 12 million cashless transactions in 5M
Dubai – Mubasher: Emirates National Oil Company (ENOC Group) announced on Wednesday that it has recorded 12 million cashless transactions in the first five months of 2020 in the UAE. This comes as the company is encouraging increased use of …
Banking and Finance
17 June 04:56 PM Abu Dhabi CEO virtual roundtable discusses challenges, resilience
UAE – Mubasher: The fifth Abu Dhabi CEO roundtable kicked off on Wednesday via video conference. The meeting gathered 16 CEOs of global energy giants, according to the Abu Dhabi National Oil Company (ADNOC). Industry leaders discussed through the …
Sector Reports
Central Bank of the UAE
17 June 01:20 PM UAE bank loans up AED 2.2bn in May
UAE – Mubasher: Bank loans in the UAE increased by 0.1% or AED 2.2 billion during May on a monthly basis, according to recent data by the Central Bank of the UAE (CBUAE). Data showed that loans by the banking sector amounted to AED 1.778 trillion …
Banking and Finance
Growth rate recorded 5.5% during H1-FY19/20
16 June 01:44 PM Egypt’s petroleum sector records EGP 20bn surplus - MoF
Cairo - Mubasher: The Egyptian petroleum sector achieved a surplus to the public treasury, for the first time in years, during the first half (H1) of fiscal year (FY) 2019/2020, the Ministry of Finance (MoF) revealed. Egypt’s petroleum sector …
Macroeconomics
Committed investments in the GCC region increased by 2.3%
16 June 01:09 PM Investments in MENA estimated at $792bn in 5 yrs – APICORP
Mubasher: The Arab Petroleum Investments Corporation (APICORP) estimates that planned and committed investments in the Middle East and North Africa (MENA) region will exceed $792 billion over the next five years from 2020 to 2024. The estimated …
Companies Investments