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24 January 10:26 PM

Sector Reports

The Middle East’s trade surplus with Japan shrank by 18.2% in 2019
23 January 01:33 PM Kuwait’s trade surplus with Japan down 6.8% in 2019
Mubasher: Kuwait’s trade surplus with Japan slipped by 6.8% on an annual basis during 2019, according to a report issued by Japan’s Ministry of Finance on Thursday. The surplus amounted to 563.99 billion Japanese Yen ($5.13 billion) last year, …
Macroeconomics
Good regulation prevents chaotic disruption
23 January 01:04 PM Middle East’s renewable energy targets face obstacles - GlobalData
Mubasher: The increasing dependence on solar and wind energy in the Middle East, led by Abu Dhabi, Dubai, and Saudi Arabia, has become remarkable, driven by governments’ ambitious renewable energy targets. However, the adoption of renewable energy …
Private sector local currency deposits slid by 0.8% in November 2019
22 January 12:56 PM Kuwait’s bank deposits up to KWD 43.6bn in November 2019 – KFH report
Mubasher: Kuwaiti banking sector's deposits grew by KWD 656 million or 1.5% year-on-year (YoY) to approach KWD 43.6 billion in November 2019, Kuwait Finance House (KFH) said in a recent report, citing data from the Central Bank of Kuwait (CBK).    …
Central Banks
Kuwait’s expenditures and commitments surged by 13% in 9M-19/20
22 January 10:37 AM Kuwait’s oil revenues down to KWD 11.58bn in 9M-19/20
By: Eman Ghaly  Mubasher: Kuwait’s oil revenues dipped by 20.95% year-on-year (YoY) during the first nine months of fiscal year 2019/2020, according to the monthly report issued by the Ministry of Finance. The GCC nation's oil revenues reached KWD …
Macroeconomics
FTA allows applicants to apply for the recovery online
21 January 04:38 PM FTA establishes new platform for VAT refund on new homes
UAE – Mubasher: The Federal Tax Authority (FTA) has developed a new platform on its website to facilitate the process of refunding the Value Added Tax (VAT) on building new homes for Emirati citizens through only four documents. Setting up a new …
Taxes
Kuwait's surplus amounted to KWD 2.009 billion in 9M
21 January 04:14 PM Low revenues weigh on Kuwait’s budget deficit in 9M-19/20
Mubasher: Kuwait has recorded a budget deficit during the first nine months of fiscal year 2019/2020 after transferring the future generations’ reserve, pressured by low income and higher expenses, according to a statement by the Ministry of …
Sector Reports
Salaries and subsidies represent 71% of the Kuwait's 2020 budget
21 January 02:22 PM Kuwait’s 2020 budget not giving optimism to firms – GlobalData
Mubasher: While Kuwait is an extremely wealthy and oil-rich state with huge investment demands, the Kuwaiti market failed to invest in infrastructure or strategic projects over the past few years, GlobalData recently reported citing its editorial …
Sector Reports
A real estate planning committee was set up in Dubai in 2019
21 January 02:18 PM Dubai property market likely to recover in 2020 - Seven Tides
UAE – Mubasher: The real estate market in Dubai is expected to thrive in 2020, driven by Expo 2020, new government initiatives, and flexible repayment plans, according to Seven Tides, a leading company in developing a residential, hospitality and …
Real estate
Deposits grew by 1.5% YoY in November 2019
20 January 12:04 PM Kuwaiti banks grant KWD 38.2bn loans in November 2019 – KFH
Mubasher: The credit facilities provided by the Kuwaiti banking sector increased by 4.7% year-on-year (YoY) in November 2019, registering KWD 38.2 billion from KWD 36.5 billion. Meanwhile, deposits grew by 1.5% YoY in November 2019, according to a …
Banking and Finance
Top officials from Gulf Capital & IVI-RMA Middle East
14 January 12:48 PM Gulf Capital unveils growth plans following $100m IVI-RMA Mideast acquisition
UAE – Mubasher:  Gulf Capital, one of the Middle East’s largest alternative asset managers, on Tuesday announced growth plans for a three-year period regarding IVI-RMA Middle East, the fastest-growing fertility treatment services provider in the …
Companies Investments
Top-tier officials from the UAE & Japan during the signing ceremony
14 January 10:07 AM UAE signs strategic energy cooperation deal with Japan
UAE – Mubasher: The Abu Dhabi Supreme Petroleum Council, represented by Abu Dhabi National Oil Company (ADNOC), and the Agency for Natural Resources and Energy of Japan, have concluded a three-year strategic energy cooperation agreement, Emirates …
International Agreements
Value of local car sales increased to AED 28.66 billion
13 January 11:17 AM Abu Dhabi automotive trade up 5% in 10M - SCAD
UAE – Mubasher: The automotive trade index in Abu Dhabi has continued its positive performance during the first ten months of 2019 as it rose by 5% on an annual basis, Emirates News Agency (WAM) reported on Monday citing data by the Statistics …
Sector Reports
Around 27 million job opportunities should be available in 30 years
12 January 05:05 PM Egypt’s population expected to reach 191.3m in 3 decades – CAPMAS
Cairo – Mubasher: The Egyptian population is expected to increase to 191.3 million by 2052, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). This population is forecast be based on the current delivery rates of 3.4 …
The Ministry of Economy delegation visiting DMCC
12 January 12:06 PM DMCC plays vital role in diamonds, precious metals trade in Dubai
UAE – Mubasher: DMCC has recently hosted the UAE’s minister of economy, Sultan Bin Saeed Al Mansouri, to sum up the entity's role in streamlining, boosting, and driving global trade through Dubai. The minister toured Almas Tower and visited both …
Commodities
A total of 202 new member companies registered in October 2019
12 January 10:38 AM DMCC welcomes 2,000 new companies to Dubai in 2019
Dubai – Mubasher: DMCC recorded a total of 1,969 new registered companies during 2019, underlining investors’ strong confidence in Dubai and DMCC’s position as of the most interconnected business districts around the globe.  DMCC saw the strongest …
Sector Reports
Kuwait’s economy shrank by 0.4% in 2019
9 January 05:39 PM World Bank expects weak economic growth for Kuwait in 3 yrs
Mubasher: The World Bank has lowered its expectations for Kuwait’s gross domestic product (GDP) for the three-year period from 2019 until 2021, when compared to June 2019’s estimates. The World Bank announced that Kuwait’s economy shrank by 0.4% …
Macroeconomics
The CPI in Egypt recorded 104.4 points in December
9 January 01:37 PM Egypt's annual core inflation falls to 6.8% in December
Cairo – Mubasher: Egypt's annual core inflation declined to 6.8% in December 2019, compared to 11.1% in the same period in 2018, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The general consumer price index …
The less predictable global environment may reduce investor confidence
9 January 11:25 AM Levant, North Africa sovereigns' 2020 outlook negative – Moody’s
Mubasher: Moody's Investors Service highlighted that the negative outlook previously placed for sovereigns in the Levant and North Africa region in 2020 is a result of political and social tensions due to a slowing pace of reform and limited scope …
Ratings
The number rose to 286 branches by the end of 2018
9 January 10:09 AM UAE registers 6% higher operating US firms in 2 yrs
UAE – Mubasher: The number of American firms’ foreign branches operating in the UAE increased by 6% during the period from 2016 to 2018, reinforcing the country’s position as a regional hub for trade and economic activities, Emirates News Agency …
Hotels in Abu Dhabi recorded the highest year-to-date figure
8 January 05:36 PM Abu Dhabi hotels host 4.7m guests in Q4-19
UAE – Mubasher: Hotels in Abu Dhabi welcomed 4.7 million guests during the fourth quarter of 2019, recording the highest year-to-date figure for guest numbers, the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) announced. This …
Sector Reports
The foreign reserves amounted to KWD 12.255 billion
8 January 05:06 PM Kuwait’s foreign reserves rise 3.89% in November
Mubasher: Kuwait’s foreign reserves increased by 3.89% year-on-year (YoY) or KWD 460 million ($1.521 billion) in November 2019, according to the bulletin by the Central Bank of Kuwait (CBK) on Wednesday. The foreign reserves amounted to KWD 12.255 …
Central Banks
The Industrial Production (IIP) recorded 125.12 points
8 January 04:01 PM Saudi Arabia’s IIP down 4.3% in November – GaStat
Riyadh – Mubasher: The Saudi Index of Industrial Production (IIP) declined by 4.3% on a monthly basis during last November. The monthly bulletin by the General Authority for Statistics (GaStat) for November showed that the index recorded 125.12 …
Macroeconomics
Bank credit recorded SAR 1.532 trillion by the end of last November
8 January 12:34 PM Bank credit in Saudi Arabia up 5.3% in November
Riyadh – Mubasher: Bank credit in Saudi Arabia grew by 5.3% year-on-year (YoY) by the end of November, increasing by SAR 77.42 billion to SAR 1.532 trillion, compared with SAR 1.455 trillion in November 2018. On a monthly basis, bank credit …
Banking and Finance
Real estate sales dropped by 25% in October 2019
8 January 12:12 PM Kuwait records KWD 230m real estate deals in October 2019 - KFH
Mubasher: The real estate sale transactions in Kuwait decreased by 31.5% month-on-month (MoM) in October 2019 to stand at KWD 230 million, yet signalling below-average sales during the year, as the number of trading days marginally declined over …
Sector Reports
Bahrain launched Cloud First Policy in 2017
7 January 03:58 PM Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
By: Ingy ElSafy & Moslem Ali Mubasher: Startup Bahrain is a national initiative launched in 2016 for the purpose of facilitating all tools required for small business to build and establish themselves while growing into international and regional …
Event