Issue  No.143
02 October 2017

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


        52.26  USD         1,275  USD


  Economic Outlook
  • Egypt Ministry of Industry and Trade has revealed that the country exports to the UAE have increased by 7% in H1-2017 reaching 1.204 BN USD compared to 1.126 BN USD in H1-2016.
  • According to the Central Bank of Egypt, the country M2 money supply has increased by 40.1% at the end of August 2017 compared to the same period last year. It is worthy to mention that Money supply has reached 3.01 TR EGP (171 BN USD).
  • Saudi Arabia foreign reserves have witnessed its lowest levels since April 2011. According to the central bank, net foreign assets have declined by 6.9 BN USD in July 2017 to reach 480 BN USD.
  • During Q2-2017, UAE Arab Financing Program funds trade deals have amounted to 387 MM USD. It is worth mentioning that the total size of funding that it agreed to provide to its national agencies in all the Arab countries has reached 521 MM USD in H1-2017.
  • UAE excise tax on cigarettes is effective as of 1st of October; accordingly, the national consumption of tobacco in the country is expected to decline by 40%. It is worth mentioning that the law aims at reducing tobacco consumption.
  • Sheikh Khalifa bin Zayed has approved an investment of 1.2 BN AED to be spent on infrastructure and urban development projects across the country.
  • According to World Bank report, North Lebanon is witnessing high rates of poverty and unemployment where the unemployment rate has reached 53%.
  • According to Kuwait finance minister, Assets managed by Kuwait Investment Authority (KIA), one of the world biggest sovereign wealth funds, have grown more than 34% over the past five years.
  • Kuwait M2 money supply has dropped by 1.5% (M-o-M) in July reaching 35.9 BN KWD (117 BN USD) according to the central bank of Kuwait. In addition, foreign assets have declined by 7% in July 2017 reaching 2.2 BN KWD (7 BN USD).
  • The European Union has approved a 236 MM USD loan to Jordan. It is worth mentioning that the loan is to be used as a form of Macro-financial assistance to the kingdom.
   Political Events
  • After the U.S president Trump has included Libya in the new travel ban, the East Libyan government has issued a retaliatory entry ban against the U.S citizens.
  • The Egyptian air force strikes had hit 10 four-wheel-drive vehicles carrying arms, ammunition and contraband at Egypt western borders with Libya according to the Egyptian Military.
  • The first female Saudi spokesman was appointed at Saudi Arabia embassy in Washington.
  • The Lebanese cabinet has vowed to resolve the salary scale law crisis meeting against the backdrop of threats by labor unions, civil servants and school teachers to stage fresh street protests and strikes.
  • In retaliation, a plan by the autonomous Kurdistan Regional Government (KRG) to hold a referendum on independence, Iran halted flights to and from Kurdish regions in northern Iraq.
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   Stock Market
  • .KWSE banking sector has declined led by Ahli United Bank (AUB) and real estate sector led by Al Massaleh. In addition, telecommunication sector has declined led by Viva and Ooredoo.
  • .QSI banking sector increased led by Qatar First Bank and Qatar National Bank.
  • .ADI banking sector has declined led by Sharjah Islamic Bank and Union National Bank (UNB).
  • .DFMGI investments & financial services sector declined led by SHUAA Capital.
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
Dubai Office:
Office No. N 415, North Tower, Emirates Financial Towers, DIFC, P.O Box 506726, Dubai, UAE.
Tel: +97143518187

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