This report is designed to give you a snapshot about the MENA region tackling multiple issues:
57.58 USD 1,277 USD
/USD
/EUR
EGP
17.66
20.71
AED
3.67
4.31
QAR
3.79
4.44
SAR
3.75
4.40
BHD
0.38
0.44
OMR
0.39
0.45
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.
Egyptagricultural 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.
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-Suwaidi, UAE 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.
Kuwait Finance House (KFH), the country's largest Islamic lender has reported a 7.5% increase in Q3-2017 net profit reaching 56.2 MM KWD (186.2 MM USD).
Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, has reported a 10.9% increase in Q3-2017 net profit reaching 610 MM QAR (167.6 MM USD) compared to 550.1 MM QAR (145.34 MM USD).
Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, and Jabal Omar Development Company (JODC), a leading developer in the Middle East, is planning to build a new Four Seasons hotel in the Holy City of Makkah as part of the Jabal Omar integrated real estate development.
Dubai International (DXB), and Dubai World Central, have signed an agreement with Union Insurance Company, a leading provider of customer-focused insurance solutions to individuals and corporations in the region, to provide life insurance solutions to Dubai Airports employees.
Dubai DAMAC Properties has reported a 20% decline in Q3-2017 profit. The developer reported a total comprehensive income of 719.34 MM AED (195.86 MM USD), compared to 901.96 MM AED (245.57 MM USD) profit in the same period last year.
Oman has cancelled tenders for the country's third mobile license as it has decided to award it to a consortium of local investment funds and an international operator. This decision aims to strengthen investment funds in the country. The new operator will compete with Oman Telecommunication Co. (Omantel) and Ooredoo Oman.
Al Ahly will play Moroccans Wydad Casablanca in next month's African Champions League final after beating Etoile du Sahel6-2 to win through 7-4 on aggregate.
Saudi Arabia will host the first World Boxing Super Series Cruiserweight final in May 2018 as well as its first-ever international motorsport event, featuring stars from Formula One, World Rally Championship, IndyCar, NASCAR, sportscars and touring cars competing against each other.
Employee engagement levels in the UAE remain very low; according the Gallup's "State of the Global Workplace" report about eight in ten UAE workers (85% of the population) are "not engaged" or "actively disengaged" in their work. Lack of employee enthusiasm is a global concern; costing the US around half a trillion USD annually in lost productivity.
