Issue  No.125
15 May 2017

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


        52.37  USD         1,232  USD


  Economic Outlook
  • The European Bank for Reconstruction and Development (EBRD) has approved 200 MM EUR (217 MM USD) loan for wastewater treatment projects in 84 villages in Fayoum governorate.
  • Egypt annual urban consumer price inflation has increased to 31.5% in April 2017 compared to 30.9% in March 2017.
  • US aids to Jordan has totaled 1.3 BN USD in 2017. It is worthy to mention that Jordan has suffered from instability resulting from the Syrian crisis after hosting 1.3 million Syrians, which has put significant strain on the Kingdom resources and state budget.
  • Cement demand in Jordan has declined by 40% over the past seven years this drop was due to lower project activity, higher land prices and decline in consumption. It is worthy to mention that domestic cement demand has reached 1.2 million tons in the first four months in 2017.
  • Oman Investment Fund has closed the syndication of 600 MM USD of conventional and Islamic finance loan facilities for its wholly owned subsidiary United Telecommunication Limited (UTL). The proceeds will be directed to the acquisition of a 51% stake in Omantel.
  • Qatar has increased the official selling price (OSP) to 51.45 USD per barrel for Marine Crude oil in April 2017, which is 90 cents higher compared to last month.
  • Qatar real GDP growth is expected to increase to reach 2.6% in 2017 and 3.6% in 2018 driven by the non-hydrocarbon sector as higher oil prices ease liquidity and fiscal constraints.
  • Saudi Arabia fiscal deficit has declined by 71% y-o-y in Q1-2017 reaching 26 BN SAR (6.93 BN USD). On the other hand, revenues have increased by 72% in the same period reaching 144 BN SAR.
   Political Events
  • Turkish President Recep Tayyip Erdogan has visited Kuwait last Tuesday to hold talks with the Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
  • Royal Oman Police (ROP) has warned the public against sharing personal information and photographs on social media. The warning comes after a recent incident of cyber blackmail which ended in a murder.
  • Tunisia President Beji Caid Essebsi has ordered the army to protect facilities linked to phosphate, gas and oil production after protests aimed at disrupting output broke out in the south of the country. 
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   Stock Market


  • .KWSE telecommunication sector has declined led by Viva and Ooredoo.
  • .ADI banking sector has declined led by Sharjah Islamic Bank. On the other hand, the real estate sector has increased led by Aldar Properties and telecommunication sector led by Etisalat.
  • .DFMGI banking sector has increased led by Dubai Islamic Bank (DIB) and real estate sector led by Emaar Properties. On the other hand, the 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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