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09 December 11:48 PM

News Analysis

GCC chemical production capacity reached 174.8 million tons last year
4 December 03:48 PM GCC chemical industry achieves $84bn in 2018
Mubasher: The chemical industry in the Gulf Cooperation Council (GCC) member countries achieved a revenue of $84.1 billion in 2018, according to a recent report by the Gulf Petrochemicals and Chemicals Association (GPCA). GCC production capacity …
Sector Reports
Arab vacationers accounted for 28.3% of Dubai's total visitors
27 November 03:15 PM Saudi tourists top Dubai's Arab visitors in 9M
By: Mahmoud Gamal Dubai – Mubasher: The number of Arab tourists travelling to Dubai grew by 5.5% year-on-year (YoY) to around 3.42 million over the first nine months of 2019, as shown by official data. Arab vacationers accounted for 28.3% of the …
Macroeconomics
Aramco raised feedstock prices last month
27 November 10:53 AM Oil prices directionless; demand estimates remain stable – Report
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised feedstock prices in October, a move which impact is likely to be seen in the fourth quarter (Q4), according to a recent report by Al Jazira Capital. A change in margins …
Macroeconomics
Diamond industry is at a major inflection point
26 November 12:09 PM DMCC upbeat on long-term diamond industry outlook, despite pressures
Mubasher: The Dubai Multi Commodities Centre (DMCC) said on Tuesday that the diamond industry is facing major pressures, citing a variety of factors, but remained positive on the long-term economic outlook for the sector. A steady decline in …
Sector Reports
Stargems is an international diamond company registered in DMCC
25 November 11:36 AM UAE’s Diamond Exchange hosts rough diamond tender; $50m sold
UAE – Mubasher: The Dubai Diamond Exchange (DDE) hosted one of the largest rough diamond tenders to take place in Dubai over the period from 17 to 21 November 2019 Stargems, which is an international diamond company registered in the Dubai Multi …
Macroeconomics
Khalid Abdullah Al Hussan, Chief Executive Officer (CEO) of Tadawul
24 November 02:28 PM Tadawul could launch derivatives market in 2020
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will announce the expected to launch a financial derivatives market before the end of 2019, said CEO Khalid Abdullah Al Hussan During an event organized by the Riyadh Chamber, Al Hussan said …
Initial Public Offerings
Not only developed economies can benefit from intelligent connectivity
19 November 12:12 PM Intelligent connectivity catalyst for GDP growth – Huawei Report
Mubasher: A recent report by Huawei showed that countries with scores over 65 on the Global Connectivity Index (GCI) that made continuous investment in intelligent connectivity can expect a boost in the gross domestic product (GDP) by more than …
Sector Reports
Exchange companies registered profits of KWD 13.77 million by September
12 November 12:43 PM Kuwaiti exchange companies’ profits down 4% in 9M
Mubasher: Foreign exchange companies in Kuwait saw a 4% decrease in net profits during the first nine months of the year, according to a statement by the Central Bank of Kuwait (CBK). Exchange companies registered profits of KWD 13.77 million …
Central Banks
Hatem Sleiman, Regional Vice President - Middle East, Pakistan & Afghanistan, Western Union
31 October 11:53 AM Sleiman in Interview – Western Union starting to leverage platform in new ways
Mubasher: Western Union, the US worldwide financial services and communications company, has enhanced the UAE with the latest generation of omni-channel platform in a way of confirming the deep commitment to keeping the Middle East at the …
Banking and Finance
Report available online on MAGNiTT and ADGM's websites
24 October 05:42 PM MAGNiTT, ADGM launch first of kind MENA FinTech Venture Report
Mubasher: The leading startup data platform in the region, MAGNiTT, has teamed up with Abu Dhabi Global Market (ADGM) to launch the first-of-its-kind 2019 MENA FinTech Venture Report. The full report can be found online on the websites of MAGNiTT …
Sector Reports
surveillance cameras may represent 70% of the 5G IoT endpoint installed base in 2020
21 October 11:37 AM Outdoor surveillance cameras may be largest market for 5G IoT Solutions - Gartner
Mubasher: Gartner Inc. expected outdoor surveillance cameras to become the biggest market for 5G Internet of Things (IoT) solutions across the world during the coming three years.     Surveillance cameras are forecast to represent 70% of the 5G …
Sector Reports
Grand Union is Developed by St George PLC, Berkeley Group
17 October 05:13 PM Major trending investments in London include Battersea Power Station – Savills
Mubasher: Companies invest into the real estate market in London, so too are developers, by offering increasingly attractive opportunities, the leading real estate advisor, Savills Middle East, said. In a high-profile event at the UK Embassy in …
Real estate
Revenues are expected to remain down in Q3-19
8 October 04:37 PM Al Jazira Capital: Saudi petrochemical sector seen up MoM, down YoY in Q3
Riyadh – Mubasher: Al Jazira Capital predicted the net income of the Saudi petrochemical sector to improve by 9% during the third quarter of 2019, compared to the second quarter of the same year. The research company ascribed the increase in …
Commodities
Vessels at anchorage are “still on-hold until further notice”
16 September 12:02 PM Impact on oil prices seen limited after attack on Aramco - Refinitiv Oil Research
Mubasher: The impact of the recent attacks in Saudi Arabia on oil prices remains unknown; however, with the global demand forecasts being revised downwards based on trade wars and economic downturn, the impact might be limited unless a significant …
Sector Reports
KOC’s average capital spending totals KWD 2 billion in FY19/20
12 September 05:09 PM KOC's operating budget totals KWD 2.5bn in FY19/20
Mubasher: The CEO of Kuwait Oil Company (KOC) Emad Sultan announced that the firm’s operating budget for fiscal year 2019/2020 amounts to KWD 2.5 billion, as reported by Alrai Newspaper. He concluded that KOC’s average capital spending for the …
Companies Investments
Kuwait posted a monthly rise of 0.71% in oil production in May
25 July 03:26 PM Kuwait’s crude oil exports decline 5% in May
By: Eman Ghaly Mubasher: The exports of Kuwait’s crude oil reported a 5% month-on-month (MoM) decline during May, according to the data revealed by the Joint Organisations Data Initiative (JODI). Crude oil exports from Kuwait recorded 1.986 …
Macroeconomics
PwC forecast that AI would contribute $320 billion to the Middle East’s economy by 2030
14 July 01:48 PM AI to boost Middle East’s GDP by 11% by 2030 - PwC
UAE - Mubasher: Decision makers in the Middle East are looking to embrace artificial Intelligence (AI) in their business, according to a recent report by PwC. Almost 91% of the Middle Eastern CEOs interviewed by PwC would adopt AI in conducting …
Sector Reports
Egypt's net international reserves currently amount to $44 billion
11 June 12:00 PM Planning minister reviews Egypt’s economic position since 2013
Cairo – Mubasher: Egypt’s economic performance and fundamentals have been significantly improving because of the current adopted reforms and policies, making the economy stands on stronger footing relative to where it was in 2013, the country’s …
Global Economy
Trading at ASE will resume on 10 June
2 June 01:04 PM Jordan’s ASE to close on Eid Al Fitr, Royal Sitting holidays
Mubasher: Amman Stock Exchange (ASE) announced that the stock exchange will be closed starting from Tuesday to Thursday, 4 to 6 June, on the occasion of Eid Al Fitr holiday. In addition, ASE will be closed on Sunday, 9 June, on the occasion of the …
Hilton Garden Inn in Muscat, Oman
26 May 01:17 PM Over 3.5K hotel keys likely to enter 3 GCC states, Jordan – Colliers
Mubasher: Three Gulf countries in addition to Jordan have seen more than 800 keys in the hotel sector during the period from Q1-18 and Q1-19. This has resulted in a year-on-year increase of 4% in supply, according to a recent Colliers report on …
Macroeconomics
Kuwait’s oil output increased by 13,000 bpd year-on-year in March to 2.713 mbpd
22 May 01:38 PM Kuwait’s oil exports edge up in March – JODI
Mubasher: Kuwait’s oil exports inched up 0.69% to 2.034 million barrels per day (mbpd) in March, compared to 2.020 mbpd for the same month a year earlier, according to the Joint Organisations Data Initiative (JODI). The GCC nation’s oil exports …
Macroeconomics
LG’s 2019 TVs include conversational voice recognition feature
20 May 11:39 AM LG develops world’s 1st Arabic-supported AI televisions
Mubasher: LG Electronics (LG) has announced the first Arabic voice service support in its 2019 televisions that are enabled with Artificial Intelligence (AI) technology. The 2019 TVs from LG come with unique ‘ThinQ AI platform’ which deploys a …
Sector Reports
Economic reforms in Saudi Arabia have started to yield positive results
16 May 02:40 PM Saudi Arabia’s real non-oil growth to hit 2.9% in 2019 – IMF
Riyadh – Mubasher: Recent positive indicators combined with an increase in oil prices since the beginning of 2019 have boosted confidence in Saudi Arabia’s economy, the International Monetary Fund (IMF) said in its report released late on …
Macroeconomics
Autonomous transport something that the UAE is already actively involved in
16 May 10:44 AM Genomic medicine amid UAE’s goals in Fourth Industrial Revolution – Colliers
Mubasher: The Fourth Industrial Revolution (4IR) is becoming an endorsing factor for economies all over the world and it is currently being seen in various sectors such as real estate, banking, entertainment, healthcare, and the new trend of …
Companies Investments
TIME Hotels will be exhibiting on stand HC0620 during ATM 2019
22 April 04:33 PM TIME Hotels plans to open 35 properties in Middle East by 2025
Mubasher: The UAE-headquartered hospitality company and hotel operator TIME Hotels plans to launch five properties across the Middle East during 2019. A further expansion to its business is planned, as TIME Hotels targets 35 properties by 2025.   …
Macroeconomics