Local Economy

The region's debt market is expected to soar this year
16 August 04:06 PM GCC debt issuance may exceed $50bn in 2018 – Report
Mubasher: The GCC sovereign issuance has seen a positive period during the first six months of 2018, amounting to more than $30 billion. The GCC debt market is expected to soar this year, reaching as much as $50 billion, according to Fisch Asset …
Saudi holdings of  US Treasury bonds increased by 1.7% month-on-month in June
16 August 03:09 PM Saudi Arabia’s US Treasury holdings hit $165bn in June
Riyadh – Mubasher: Saudi Arabia raised its holdings of US debt instruments by 16.1% year-on-year in June 2018. The kingdom’s holdings of US government bonds amounted to $164.9 billion by the end of June, up from $142 billion in the same month a …
The kingdom’s imports amounted to SAR 244.52 billion ($65.2 billion) during H1-18
16 August 02:56 PM Saudi imports fall 3% in H1
By: Elsayed Gamal Riyadh – Mubasher: Saudi Arabia has reduced its merchandise imports by SAR 7.91 billion ($2.1 billion), or 3.1%, during the first half of 2018. The kingdom’s imports amounted to SAR 244.52 billion ($65.2 billion) during the …
As for imports, Oman and Kuwait led the GCC
16 August 01:18 PM UAE leads Qatar’s GCC trade partners in Q2
Dubai - Mubasher: Bilateral trade between Qatar and the GCC reached QAR 5 billion, according to a report released by the Ministry of Development Planning and Statistics (MDPS). The UAE topped the GCC in terms of the volume of its exports to Qatar, …
The IIP increased after activities in mining and quarrying sector rose to 121.8
16 August 11:56 AM Saudi industrial output rises 3% in Q1 – GASTAT
Riyadh – Mubasher: Saudi Arabia's industrial production index (IIP ) rose 3.4% year-on-year to 132.4 points in the first quarter of 2018, from 127.95 points. The IIP increased after activities in mining and quarrying sector rose to 121.8, followed …
Oil stock inclined by 6.8 million barrels in week
16 August 11:14 AM Kuwait’s crude oil drops $1.34 on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by $1.34 to settle at $69.68 per barrel (pb) on Wednesday compared to $71.02 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Tamim and Erdogan discussed bilateral relations and regional matters
15 August 09:13 PM Qatar to invest $15bn in troubled Turkey
Mubasher: Qatar will pump investments of $15 billion in Turkey across a number of projects, as announced by Qatari Emir Sheikh Tamim bin Hamad Al Thani during his meeting with Turkish President Recep Tayyip Erdogan. The two leaders discussed …
incoming tourism will grow 15.9% to SAR 8.7 billion during the summer of 2018
15 August 12:22 PM Saudi Arabia to post SAR 22bn tourism revenue in 2018
Riyadh – Mubasher: Saudi Arabia is expected to generate a SAR 22.2 billion revenue from inbound and outbound tourism, excluding travel expenses for religious purposes during the summer of 2018, the Tourism Information and Research Centre (MAS) …
Electric machines and equipment topped the imports to Saudi Arabia
14 August 01:40 PM Saudi imports down 3.2% in June – GaStat
Riyadh – Mubasher: Saudi Arabia announced that its imports decline by 3.2% or SAR 1.12 billion in June 2018 when compared to the same month a year ago, according to the latest data by the Saudi General Authority for Statistics (GaStat). Imports …
The kingdom’s trade surplus grew to SAR 61.34 billion in June
14 August 01:16 PM Saudi trade surplus leaps 161% in June – GASTAT
Riyadh – Mubasher: Saudi Arabia's trade surplus registered a year-on-year increase of 160.7% in June, according to a recent report by the Saudi General Authority for Statistics (GASTAT). The kingdom’s trade surplus grew to SAR 61.34 billion …
Saudi merchandise exports amounted to SAR 95.45 billion in June
14 August 12:28 PM Saudi merchandise exports hit SAR 96bn in June – GASTAT
Riyadh – Mubasher: Saudi Arabia's merchandise exports increased by 62.3% year-on-year, or SAR 36.96 billion, during June, the General Authority for Statistics’ (GASTAT) data revealed on Tuesday. The kingdom’s merchandise exports amounted to SAR …
The MoU aims at establishing a new passenger terminal at King Abdulaziz International Airport
14 August 12:14 PM Jabal Omar, Ground Services extend terminal MoU
Riyadh – Mubasher: Jabal Omar Development Company on Tuesday announced that it has extended a non-binding memorandum of understanding (MoU) with Saudi Ground Services Company (SGS) for one more year until 22 February 2019. The MoU aims at …
The dividends represent 3.45% of net assets based on the fair market value as of 30 June.
14 August 10:39 AM Musharaka REIT Fund to pay SAR 0.35/unit dividends
Riyadh – Mubasher: Musharaka REIT Fund on Tuesday announced that it will pay a 3.5% cash dividends for the six-month period ended 17 August, with a total amount of SAR 30.8 million. The fund will pay a dividend of SAR 0.35 per unit, according to …
Global oil prices declined
14 August 10:16 AM Kuwait’s crude oil adds 62 cents – KPC
Mubasher: The price of Kuwait’s crude oil increased by 62 cents to settle at $70.53 per barrel (pb) on Monday compared to $69.91 pb in the prior session, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, …
Egypt acquired about 2% of Saudi exports in 2017
13 August 02:45 PM Saudi-Egyptian bilateral trade hits SAR 7.3bn in 2017 – GASTAT
Riyadh – Mubasher: Trade exchange between Saudi Arabia and Egypt amounted to SAR 27.4 billion ($7.3 billion) in 2017, after the kingdom's exports hit SAR 18.9 billion, compared to SAR 13.9 billion in the year before, General Authority for …
The banking sector topped the QSE’s losers declining 3.59%
13 August 11:54 AM Turkish lira poses threat to QSE’s banking sector
Mubasher: The Qatar Stock Exchange (QSE) has been affected adversely by Turkey's currency crisis. The Qatari bourse ended Sunday’s trading session in negative territory, after the general index fell 251.86 points, or 2.55%, to 9,635 points. The …
The oil-rich kingdom has a raft of raw materials that will help in building this city
13 August 11:34 AM Saudi Arabia to build auto manufacturing city
Riyadh – Mubasher: Saudi Arabia will begin establishing a car manufacturing city in the coming period, along with providing a slew of advantages and incentives for investors, the Ministry of Energy, Industry and Mineral Resources said. The …
Employment and export orders in the kingdom’s non-oil private sector rose slightly in July
12 August 10:33 AM Saudi non-oil private sector growth slows in July – PMI
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector growth eased slightly in July, according to a recent survey sponsored by Emirates NBD and produced by IHS Markit. The seasonally adjusted Emirates NBD Saudi Arabia Purchasing Managers' Index …
Governor of CBE  Tarek Amer
9 August 01:42 PM Egypt draws in $120m inflows since IMF deal – CBE Governor
Cairo – Mubasher: Egypt has attracted more than $120 billion in investments in different economic activities following the signing of the International Monetary Fund’s (IMF) agreement at the end of 2016. Drawing back cash inflows from abroad was …
Saudi Arabia’s PIF has completed 16 deals
9 August 11:35 AM UAE’s Mubadala tops GCC with 31 deals; beats Saudi, Qatar funds
Mubasher: Abu Dhabi's state investorMubadala Investment Co has completed 31 deals since the beginning of 2017, which will pave the firm to compete for global deals and sell assets. Despite Saudi Arabia’s sovereign wealth fund is attracting a large …
The US crude production declined for the second week in a row
9 August 10:49 AM Kuwait’s crude oil adds 19 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 19 cents to settle at $72.16 per barrel (pb) on Wednesday compared to $71.97 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
Canada-based TMX Group has said it does not plan to hold further discussions with state-run Saudi Aramco
9 August 10:38 AM TMX denies talks with Aramco over IPO
Riyadh – Mubasher: Canada-based TMX Group has said it does not plan to hold further discussions with state-run Saudi Aramco over a partial listing on Canada's stock market, the world's sixth-largest.  “We have not had any recent discussions with …
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8 August 09:41 PM Dell to train female Saudi data scientists
Riyadh - Mubasher: The Princess Nourah bint Abdulrahman University (PNU) in Saudi Arabia, which is the largest university for women in the world, has signed a partnership agreement with Dell to train and certify pioneering Saudi female data …
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8 August 09:10 PM Saudi deficit down in Q2 on higher revenues
Riyadh - Mubasher: The data of the Saudi finance ministry showed a decline in the public budget deficit to SAR 7.36 billion ($1.96 billion) in the second quarter of 2018, due to a strong growth in revenues. Deficit reached SAR 41.69 billion …
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8 August 08:43 PM Saudi Arabia completes SAR 5bn road projects in H1
Riyadh - Mubasher: The Saudi transport ministry announced that a total of 55 projects were carried out during the first half of 2018, with a cost of SAR 4.98 billion. The 1,699 kilometer roads will help in enhancing the kingdom’s infrastructure …