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22 February 03:35 PM

News Analysis

Revenues slipped by 17.6% YoY in 10M-19/20
18 February 09:52 AM Kuwaiti oil revenues drop to KWD 13bn in 10M
Mubasher: Kuwait’s oil revenues amounted to KWD 13.07 billion ($42.97 billion) in the first 10 months of fiscal year 2019/2020, down by 17.64% year-on-year (YoY) from KWD 15.87 billion ($52.17 billion) Oil revenues in Kuwait accounted for 94.2% of …
Macroeconomics
Federal Tax Authority (FTA)
11 February 03:52 PM UAE bans tobacco, e-cigarette plugs without digital tax stamps
Abu Dhabi – Mubasher: The UAE Federal Tax Authority (FTA) announced that importing waterpipe tobaccos and electrically heated cigarette plug not marked with digital tax stamps will be prohibited across country as of 1 March 2020. The ban comes as …
Taxes
The PR industry started with $500 million 10 years ago
6 February 02:14 PM MENA’s PR industry likely to double current $1bn value by 2030
Mubasher: The Public relations (PR) industry in MENA is set to double its current $1 billion value by 2030, backed by the rapid growth of the region’s national champion companies. This was announced during the PRovoke MENA Summit 2020 which was …
Sector Reports
Kuwait's exports to GCC countries rose by 4.1% YoY
5 February 12:29 PM Kuwait’s trade surplus hits KWD 679m in October; down 14.2% in 10M-19
Mubasher: Kuwait’s exports plummeted by 26.1% year-on-year (YoY) in October 2019 to reach KWD 1.55 billion from KWD 2.10 billion in the same month in 2018, recent statistics from the Central Statistical Bureau (CSB) showed.   Imports slipped by …
Macroeconomics
Breakbulk Middle East Exhibition
30 January 01:35 PM DP World to host Breakbulk Middle East for second year in row
Dubai – Mubasher: DP World, UAE Region will host the fifth edition of Breakbulk Middle East (BBME), the largest project cargo and breakbulk event in the GCC, for the second year in a row. With the aim of strengthening the UAE’s position in …
Event
Arab Health Congress may host over 400 expert speakers and 5,200 delegates
29 January 02:17 PM Investments in GCC healthcare sector seen strong on $70bn estimated market value
Mubasher: The GCC healthcare sector continues to be strong, given that it is projected to reach $70 billion and is seen to grow at a compound annual growth rate (CAGR) of 5%, according to a press release on Wednesday. The Healthcare Investment …
Sector Reports
Kuwait’s oil economy slipped by 1% in 2019
27 January 11:49 AM Kuwait’s GDP down to 0.7% in 2019 on lower oil sector growth – IMF
Mubasher: The International Monetary Fund (IMF) on Monday stated that Kuwait’s gross domestic product (GDP) slowed to 0.7% in 2019 from 1.2% in 2018, pressured by lower oil prices and output, despite the growing non-oil sector. Kuwait’s real oil …
Commodities
Saudi Arabia is the UAE’s most prominent partner in the GCC
26 January 05:27 PM Saudi citizens, banks invest AED 10.93bn in UAE in 2018
UAE – Mubasher: The value of investments by Saudi citizens and banks in the UAE reached AED 10.93 billion in 2018, including AED 6.35 billion in joint stock companies and AED 4.58 billion in Saudi investors’ transactions in the UAE. This …
Sector Reports
Total Saudi merchandise exports slipped by 14.9% in November 2019
26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
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 …
Sector Reports
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 …
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 …
Macroeconomics
Tanker Forward Freight Agreement (FFA) volumes increased by 38% YoY in 2019
7 January 01:35 PM Volatility boosts freight derivative volumes in 2019
UAE – Mubasher: Freight derivatives markets showed higher traded volumes in 2019 for both tankers and dry cargo vessels, data by the Baltic Exchange showed.  Tanker Forward Freight Agreement (FFA) volumes increased by 38% year-on-year (YoY) to …
Sector Reports
The Innovation Hub will showcase many disruptive technologies in the IoMT ecosystem
6 January 01:13 PM MENA's Internet of Medical Things expected to reach $9bn by 2022
UAE – Mubasher: Arab Health, the Middle East and North Africa’s (MENA) largest exhibition for healthcare and trade professionals announced its return to the Dubai World Trade Centre (DWTC) and Conrad Dubai Hotel from 27 to 30 January 2020. The …
Event
The first edition of the brand-new show will be launched in Dubai South
6 January 12:04 PM Dubai to host new transport, logistics exhibition in November
UAE – Mubasher: A new trade show focused on providing the latest developments in the transport and logistics sector will be held in Dubai later this year, under the name SiTL Middle East, as announced by the event organizer Reed Exhibitions on …
Event
The Saudi Stock Exchange will be open for trading on Wednesday
31 December 2019 03:42 PM Twelve Arab stock markets, excluding KSA, off on 1 January
Mubasher: Twelve Arab stock markets will close on Wednesday, 1 January 2020, on the occasion of the New Year holiday. The Gulf stock markets that will close on Wednesday include the Dubai Financial Market (DFM), the Abu Dhabi Securities Exchange …
Trading Activities
DME oil futures is a benchmark for Oman, Dubai, Saudi Arabia, Bahrain and now Kuwait
31 December 2019 01:49 PM DME Oman to price Kuwait oil futures from February 2020
Dubai – Mubasher: Dubai Mercantile Exchange (DME) recently announced that Kuwait Petroleum Corporation (KPC) will use the DME Oman Futures contract as a price reference for Kuwaiti crude oil exports to Asia starting from 1 February 2020 onwards. …
Commodities
Executive vice president of Operations at DIFC, Alya Al Zarouni
30 December 2019 04:45 PM DIFC propels Mideast insurance landscape with industry leaders
UAE– Mubasher: Dubai International Financial Centre (DIFC) has entered into individual memoranda of understanding (MoUs) with Lloyd's Insurance Company, a global major insurance and reinsurance marketplace, and the UK-based Chartered Insurance …
International Agreements
Startups do not repay the funding since it is a grant by Tamkeen
26 December 2019 05:31 PM How can non-local startups get grants in Bahrain? – Interview with Pakiza Abdulrahman
 By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups endure several challenges in obtaining financing rounds, but this may not be an issue for a foreign startup if it decides to set up in Bahrain. Pakiza Abdulrahman, Manager of Business …
Macroeconomics
Trading hours will resume on Sunday, 5 January
25 December 2019 10:34 AM Boursa Kuwait announces New Year’s holiday
Mubasher: Boursa Kuwait announced a two-day holiday on the occasion of the New Year 2020, according to a statement on Wednesday. Kuwait’s stock market referred that it will close on Wednesday and Thursday, 1 and 2 January 2020. Trading hours will …
Global Economy
The vice president and general manager in the Middle East for UL, Hamid Syed
24 December 2019 10:48 AM UL urges Mideast businesses to manage cybersecurity risks
UAE – Mubasher: The global leading safety science company, UL, has advised Middle East-based firms to take drastic steps against cybersecurity before it is too late. Cybersecurity has become an increasingly important issue among companies of all …
Vera Futorjanski during a panel at RiseUp Summit 2019
22 December 2019 10:50 AM Vera Futorjanski: Startups must focus on solving local challenges – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Vera Futorjanski, Director of Innovation and Partnerships at 500 Startups, recently participated in the RiseUp Summit 2019, held in the American University in Cairo (AUC) on 5-7 December, where she …
Macroeconomics
The CEO of IWG - Mark Dixon
18 December 2019 05:03 PM Flexible workspaces can boost local economies by $254bn – Regus Study
UAE – Mubasher: Due to the increasing global migration of flexible office space and co-working spots to areas outside large cosmopolitan cities, a ‘flex economy’ is being created and is likely to contribute over $254 billion to local economies …
Global Economy
Mohamed ElKasstawi as a speaker during RiseUp Summit 2019
12 December 2019 01:31 PM ElKasstawi: Stock markets, gov’t can boost performance via digital money – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Blockchain is increasingly carving out the space within the investment and banking sectors, with cryptocurrencies, tokens, and fiat expected to reshape the future of finance as many countries …
Trading Activities
70% of MENA’s corporate investors are GCC-based companies
9 December 2019 03:25 PM Corporate appetite in MENA grows in 5 years – Arabnet Report
Mubasher: The entrepreneurial ecosystem across the Middle East and North Africa (MENA) has been grabbing global and regional attention, with higher investor appetite and interest in the region’s startups, according to Arabnet report. The “State of …
Macroeconomics