Issue  No.127
29 May 2017

This report is designed to give you a snapshot about the MENA region tackling multiple issues:


        52.40  USD         1,267  USD


  Economic Outlook
  • Egypt budget deficit has declined to 8% of GDP in the first nine months of 2016/2017 compared to 9.4% in the same period last year.
  • Egypt has launched a 3 BN USD triple-tranche bond which taps its 1.75 BN USD bond maturing in 2022, the 1 BN USD notes due in 2027 and the 1.25 BN USD notes due in 2047.
  • Germany has extended 97.4 MM EUR grant to Jordan in order to carry out a number of development-oriented projects in the Kingdom.
  • Jordan has imposed 16% taxes on gyms. The gym owners objected the announcement as they have to increase the prices of registration and training programs while the clients will not accept that increase.
  • Qatar power generation capacity is projected to increase by 50% in the next two years. Qatar plans to increase the country's power capacity to 13.1 GW by 2018. Accordingly, Qatar needs 9 BN USD investment in its power sector from 2016 to 2020.
  • Abu Dhabi government-owned power utility has closed 872 MM USD (3.2 BN AED) financing package to the world's largest solar power plant. Abu Dhabi Water & Electricity Authority (ADWEA) raised 650 MM USD in debt with the remaining 222 MM USD raised in equity.
  • Tunisia will invest 166 MM USD to produce more than 210 MW of renewable energy.
   Political Events
  • Ten unidentified gunmen opened fire on a bus carrying Coptic Christians near Minya in Upper Egypt leaving 28 people dead and 23 injured. 
  • Jordan and Switzerland have signed an MoU to enhance political and security consultations and boost cooperation.
  • The UAE foreign minister has warned Europe that some countries could be classified as "incubators of terrorism" if they fail to better address extremism.
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   Stock Market
  • .EGX30 telecommunication sector has significantly increased led by Orascom Telecom and Telecom Egypt. In addition, banking sector increased led by Commercial International Bank (CIB).
  • .TASI real estate sector declined led by Dar Al Arkan.
  • .KWSE banking sector has declined led by National Bank of Kuwait (NBK).

Note: Weekly values are calculated on Thursday of each week.
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Cairo Office:
Z epter Office Building  S5-6,  Area 5, District 1, 5th Settlement,  New Cairo, Egypt.  P.O. Box:  1147
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Office No. N 415, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel: +97143518187

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