Mubasher: Primary debt issuances of bonds and sukuk in the Gulf Cooperation Council (GCC) countries surged to $75.50 billion in the first half (H1) of 2024, marking a 38% year-on-year (YoY) increase from $54.80 billion. Saudi Arabia led the GCC …
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has completed the issuance of its five-year Euro Medium-Term Note (EMTN) bond under its Social Finance Framework. The lender offered a $600 million issue, which was oversubscribed …
UAE – Mubasher: Abu Dhabi Global Market (ADGM) will implement major reductions of 50% or more for obtaining non-financial and retail licences within its jurisdiction as of 1 January 2025, according to a press release. This initiative comes in line …
Cairo – Mubasher: The International Monetary Fund (IMF) has cut its expectations for Egypt’s real GDP growth for 2024 and 2025 by 0.3% for each year. The IMF reduced its expectations for the country’s growth in 2024 and 2025 to 2.70% and 4.10%, …
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
Riyadh – Mubasher: Saudi Arabia held the third position in 5G Download Speed among key markets in the EMEA region, according to a report released by Opensignal. The report highlighted that the Kingdom witnessed a significant improvement in 5G …
Riyadh – Mubasher: The Saudi Arabian capital, Riyadh, has ranked among the world’s top 15 fastest-growing cities by 2033 based on economy, population, and wealth in the Savills Growth Hubs Index. Riyadh’s population is anticipated to grow by 26% …
Cairo – Mubasher: Egypt's construction industry, the largest in Africa and third largest in the MENA region, is projected to grow at a compound annual growth rate (CAGR) of more than 8% until 2029, according to JLL’s construction market …
Mubasher: The asset management industry in the GCC has significantly improved due to positive regulatory reforms and government support, according to a report by Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre (MARKAZ). Over the …
Dubai – Mubasher: The listed Commercial Bank of Dubai (CBD) has teamed up with Emirates Development Bank (EDB) through a strategic partnership to enhance and facilitate international trade services, according to a press release. The collaboration …
Mubasher: The 2024 World Competitiveness Report included six countries from the Arab region which all showed progress in this year’s ranking, according to the International Institute for Management Development (IMD) data. The UAE led the Arab …
Mubasher: The total number of deals registered in the global travel and tourism sector decreased by 10.90% to 286 during the first five months (5M) of 2024 when compared with 321 in January-May 2023, according to GlobalData Deals Database. The …
UAE – Mubasher: The third edition of Abu Dhabi Finance Week (ADFW) will take place on 9-12 December 2024 under the theme Welcome to the Capital of Capital, being the flagship financial event of the Middle East, Africa, and Southern Asia (MEASA). …
Mubasher: Switzerland-based NUOS AG is expected to establish a headquarters (HQ) in Abu Dhabi as a regional hub, which will boost the emirate's strategic location and resources for more growth in Europe, North America, and the MENA market. NUOS …
Mubasher: The US Federal Reserve (Fed) left interest rates unchanged, signalling it will not pull back until seeing sustained progress lowering inflation from multi-decade highs. The Federal Open Market Committee (FOMC) has maintained the target …
Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region during 2023, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year …
UAE - Mubasher: The Dubai Chamber of Commerce highlighted that the GCC market remained the top global export and re-export destination for its member companies in the first quarter (Q1) of 2024. The GCC region accounted for 55.50% of total exports …
Mubasher: The crude oil market is witnessing a rise due to escalating tensions in the Middle East following the killing of an Egyptian soldier in a clash with Israeli forces, according to a report by Saxo Bank. The price of West Texas Intermediate …
Mubasher: The Middle East ranked as the fastest-growing real-time payment market for the second consecutive year in 2023, according to the 2024 Prime Time for Real-Time report by ACI Worldwide and GlobalData. The region's real-time payment market …
Cairo – Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources plans to operate a new transportation pipeline for petroleum products on the Mediterranean coast, according to Al Arabiya Business. The new pipeline will link the MIDOR oil …
Riyadh – Mubasher: Saudi Arabia’s civil aviation sector is contributing $53 billion to the kingdom's economy, according to a report by the General Authority of Civil Aviation (GACA). The contribution of the sector to the Saudi economy includes …
UAE – Mubasher: The UAE has been named the global leader in fibre-to-the-home (FTTH) penetration for the eighth consecutive year. The country has achieved an FTTH penetration rate of 99.30%, according to a report by the FTTH Council. The report …
UAE – Mubasher: Dubai-based neobroker amana launched a groundbreaking strategy to boost access to the MENA stock markets for its customers, according to a press release. In February, the investment service provider developed an initiative to …
UAE – Mubasher: The UAE has signed a memorandum of understanding (MoU) with Iraq, Qatar, and Türkiye for cooperation on the Development Road project. The project seeks to create a sustainable economy bridging East and West, increase international …
