Issue  No.146
23 October 2017

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


        57.58  USD         1,277  USD


  Economic Outlook
  • A delegation from the International Monetary Fund (IMF) will arrive in Cairo on Tuesday to review Egypt progress on economic reforms before they pay the 2 BN USD as a third installment of the 12 BN USD loan.
  • Egypt tourism revenues have jumped 211.8% y-o-y reaching 5.3 BN USD in the first nine months of 2017 compared to 1.7 BN USD the previous year. 
  • Egypt agricultural exports have increased by 13.9% during the first nine months of 2017, reaching 4.1 million tons compared to 3.6 million last year.
  • The CEO of the Kuwait National Petroleum Company (KNPC) said that the total volume of expenditure on the environmental fuel project amounted to 3.1 BN KWD (10.25 BN USD) until the end of September 2017.
  • The Kuwaiti government has planned to complete three major airport projects, with a total investment of 1.45 BN KWD (4.79 BN USD), over the next three years that will be ready by 2020.
  • Qatar National Bank (QNB), the largest lender in the Middle East and Africa by assets, expects loan growth of 12-14% this year. In addition, QNB expects net profit growth of 6-8% for 2017 and 2018.
   Political Events
  • Three security sources have said that armed militants killed at least 52 police officers and conscripts in gun battles that erupted in the western desert, but Egyptian authorities said only 16 men had died when their patrol came under attack.
  • Mohammed Sultan Saif Al-SuwaidiUAE Ambassador to the Sultanate of Oman, has met with Sheikh Khalid bin Omar Al Marhoon, Minister of Civil Service. The meeting highlighted the cooperation related to civil service affairs and administrative development in both countries and ways to strengthen them.
  • Emir Qatar has said during his visit to Indonesia that Qatar is "open to dialogue" in resolving a dispute that has seen the Gulf state isolated from its Arab neighbors. 
  • A Saudi Arabian commercial airplane arrived in Baghdad last Wednesday for the first time in 27 years. There have been no flights between the neighboring countries since former Iraqi President Saddam Hussein invaded Kuwait in 1990.
  • Saudi security forces have arrested 66 people for links with terrorist organizations and operations in the Kingdom since the beginning of October 2017. The latest terrorist attack was on a checkpoint at Al-Salam Palace in Jeddah, in which two royal guards were killed and three wounded.
  • Sheikh Mohammed bin Rashid Al Maktoum, has welcomed the President of the Maldives, Abdulla Yameen Abdul Gayoom, and his accompanying delegation. They discussed bilateral relations between the UAE and the Maldives and ways to enhance them in fields of mutual interest.
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   Stock Market
  • .EGX30 banking sector has declined led by Commercial International Bank (CIB). 
  • .QSI banking sector has declined led by Qatar National Bank (QNB) and telecommunication sector led by Vodafone Qatar.
  • .DFMGI real estate sector has increased led by DAMAC Properties.  
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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