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CBK eased the risk weighting for SMEs to 25% from 75%
2 April 01:09 PM Kuwait C. bank offers stimulus to support vital sectors, SMEs
Mubasher: The Central Bank of Kuwait (CBK) on Thursday announced a stimulus package to help vital economic sectors, projects of added value, and small and medium-sized enterprises (SMEs) cushion the impact of the coronavirus outbreak. The new …
Global crude prices declined in a volatile session on Wednesday
2 April 10:51 AM Kuwait’s crude oil falls to $16.68 pb Wednesday - KPC
Mubasher: The price of Kuwait’s crude oil fell by $9.02 on Wednesday, 1 April, to finish at $16.68 per barrel (pb), compared with $25.7 pb last Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the global …
The projects include rerouting the International Coastal Road
1 April 05:50 PM Egypt builds roads, bridges at EGP 2.54bn in New Alamein City
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing and New Urban Communities Authority (NUCA) are developing roads and bridges in New Alamein City at a combined cost of EGP 2.54 billion, according to an official document …
The total number of recovered cases in Saudi Arabia reached 264
1 April 04:58 PM Saudi Arabia announces 157 new COVID-19 cases
Riyadh – Mubasher: Saudi Arabia has reported 157 new coronavirus (COVID-19) cases, bringing the total number of cases in the Kingdom to 1,720, the spokesman for the Saudi Ministry of Health Mohammed Al Abd Al Ali announced on Wednesday. Al Ali …
The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Sabah
1 April 02:22 PM Kuwait's Emir donates KWD 5m for coronavirus relief
Mubasher: Kuwait's Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah has donated KWD 5 million in support of the recently-launched fund that aims to mitigate the fallout from the coronavirus (COVID-19) pandemic, Kuwait News Agency (KUNA) reported on …
A total of 911 cases left the quarantine in Kuwait
1 April 12:38 PM Kuwait’s COVID-19 toll up at 317
Mubasher: The number of coronavirus (COVID-19) infections in Kuwait reached 317 after 28 new patients tested positive for the pandemic during the past 24 hours, according to an official statement by the health ministry on Wednesday. Earlier this …
Global crude prices plunged by more than 54% on Tuesday
1 April 11:16 AM Kuwait’s crude oil up $1.37 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.37 on Tuesday, 31 March, to settle at $25.7 per barrel (pb), compared with $24.33 pb last Monday, according to official prices released by the Kuwait Petroleum Corporation (KPC). At the …
The money supply increased to EGP 1.004 trillion
1 April 11:10 AM Egypt’s local liquidity rises to EGP 4.2trn in February
Cairo – Mubasher: Egypt’s local liquidity continued its upward trend that started with the flotation of the Egyptian pound exchange rate in November 2016. The North African nation’s local liquidity amounted to EGP 4.187 trillion in February, …
The ministry also reported seven new recoveries
1 April 10:46 AM Egypt’s COVID-19 cases reach 710
Cairo – Mubasher: The Egyptian Ministry of Health confirmed 54 new cases of the novel coronavirus (COVID-19) of Egyptians returning from abroad.   In addition, the ministry also reported seven new coronavirus recoveries and five new deaths, the …
Saudi Ministry of Health
31 March 06:42 PM Saudi Arabia reports 110 new coronavirus cases
Riyadh – Mubasher: The Saudi health ministry recorded 110 new cases with the coronavirus (COVID-19), bringing the total number of cases in the kingdom to 1,563 since the outbreak of the global pandemic. The ministry said in its daily report that …
Tharwa drilled eight exploratory and development wells in 2019
31 March 04:07 PM Tharwa Petroleum seeks to acquire 6 concession areas in 2020
Cairo – Mubasher: Tharwa Petroleum Company is looking to obtain six concession areas in 2020 and enter into partnerships with major companies, including Total, ExxonMobil, Chevron, BP, and Shell, the company’s chairman Amr El-Leithy said. The …
New Garden City spans over an area of 985 feddans
31 March 03:39 PM Egypt develops New Garden City at EGP 80bn
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing and the New Urban Communities Authority (NUCA) have estimated the cost of developing the New Administrative Capital's R5 residential district at EGP 80 billion. The R5 …
Global oil prices fell to an 18-year low on Monday
31 March 11:49 AM Kuwait’s crude oil down $1.93 pb on Monday – KPC
Mubasher: The price of Kuwait’s crude oil price registered $24.33 per barrel (pb) on Monday, 30 March, down by $1.93 when compared to $26.26 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the …
Egypt's BoP posted an overall surplus of $410.9 million
31 March 11:25 AM Egypt’s Suez Canal receipts hit $3bn in H1-19/20
Cairo – Mubasher: Egypt’s receipts from Suez Canal increased to $3 billion during the first half of fiscal year 2019/2020, compared to $2.9 billion in the year-ago period, according to data released by the Central Bank of Egypt (CBE) on Monday. …
Egypt's BoP posted an overall surplus of $410.9 million
31 March 11:05 AM Egypt’s tourism revenues rise to $7.2bn in H1-19/20
Cairo – Mubasher: Egypt’s tourism revenues rose by $459.7 million or 6% year-on-year to $7.2 billion in the first half of fiscal year 2019/2020, compared to $6.79 billion, according to data released by the Central Bank of Egypt (CBE). Meanwhile, …
The current accounts’ deficit shrank by $684.4 million
30 March 06:27 PM Egypt's BoP records $410.9m surplus in H1-19/20
Cairo – Mubasher: Egypt’s balance of payments (BoP) achieved an overall surplus of $410.9 million during the first half of fiscal year 2019/2020, compared to an overall deficit of $1.8 billion in the yea-ago period, official data showed. The …
The oil price was set at $61 per barrel
30 March 06:01 PM Egypt sets average USD rate, oil barrel price in 20/21 budget
Cairo – Mubasher: The Egyptian finance minister Mohamed Maait announced the average US dollar exchange rate and oil barrel price in the country’s draft budget for fiscal year 2020/2021. The USD exchange rate was set after considering the average …
The budget allocates EGP 95.7 billion to the health sector
30 March 05:24 PM Egypt targets 6.3% budget deficit in FY20/21
Cairo – Mubasher: The Egyptian finance minister Mohamed Maait reviewed the items of the state budget for fiscal year 2020/2021. The FY20/21 budget shows expenditures of EGP 1.71 trillion and revenues of EGP 1.3 trillion, Maait added in a statement …
Residents allowed to leave Kuwait next month without paying travel costs or violation fines
30 March 05:06 PM Kuwait allows residence violators to depart without paying fines
Mubasher: Kuwait’s Deputy Prime Minister and Interior Minister, Anas Al Saleh, on Monday issued a resolution granting a grace period to residence violators to depart the country without paying any fines. The amnesty decision allows residents to …
The central bank supported the Egyptian bourse with EGP 20 billion
30 March 11:53 AM CBE delays EGP 1.8trn debt payments for 6M
Cairo – Mubasher: The Central Bank of Egypt (CBE) has delayed debt payments of Egyptian companies and individuals worth EGP 1.8 trillion for six months, the CBE’s governor Tarek Amer said in a TV interview.   However, the interest will still …
A fee of EGP 3 is charged on each ATM transaction
29 March 06:13 PM Pensioners to be exempt from ATM fees for 6M – Source
Cairo – Mubasher: The Central Bank of Egypt (CBE) will pay ATM withdrawal fees for pensioners for a period of six months on behalf of the Ministry of Social Solidarity, an official source told the Middle East News Agency (MENA). A total of 6 …
A total of EGP 24.9 billion has been disbursed so far
29 March 04:17 PM Egypt’s slum development plan estimated at EGP 396.2bn
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian Ministry of Housing has estimated the cost of slum development plan at EGP 396.2 billion. The plan includes developing unsafe and unplanned areas and markets, according to a document reviewed by …
CBE imposed temporary limits on ATM withdrawals and deposits at EGP 5,000
29 March 01:45 PM NBE launches mobile ATMs amid coronavirus fears
Cairo – Mubasher: The National Bank of Egypt (NBE) announced that customers will be able to use mobile ATM vehicles. Mobile ATMs will be spread across different areas in the country in a bid to promote social distancing to curb the spread of the …
Investors in Boursa Kuwait
29 March 12:41 PM Kuwait’s COVID-19 toll rises to 255
Mubasher: The total number of coronavirus (COVID-19) cases in Kuwait grew to 255 on Sunday after 20 new patients tested positive for the novel disease over the past 24 hours, the country’s health ministry disclosed on its official Twitter page. …
The issuance will be used to finance the country’s budget deficit
29 March 12:27 PM CBE offers EGP 14.5bn T-bills on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 14.5 billion on Sunday on behalf of the Ministry of Finance. The first tranche of the T-bills amounts to EGP 4 billion and will be offered through …