This report is designed to give you a snapshot about the MENA region tackling multiple issues:
51.06 USD 1,233 USD
Oman's crude production has fallen to 27 million barrels in February 2017, equivalent to 970,000 barrels per day. China was the major importer of the Sultanate's oil, accounting for 82.49% of total exports, which also shows a growth of 18.33% over the last month.
Egypt is expected to receive the second tranche of the IMF loan of 12 BN USD in May or June 2017.
Egypt is planning to complete the establishment of one million social housing units within the next three years. Egypt has already implemented 550,000 social housing units during the last two years and half supported by small-sized construction firms.
Japan has approved the loan to Iraq worth 100 MM USD to support humanitarian, counter-terrorism and infrastructure projects. It is worthy to mention that Japan has agreed to lend Iraq 240 MM USD to rebuild the damaged electricity infrastructure in areas recaptured from Islamic State.
Iraq has signed an agreement with ABB, Swedish company worth 500 MM USD to implement energy projects as Iraq is suffering from electricity shortages.
The annual cost of traffic accidents in Jordan has reached 2 BN USD accounting for 5.59% of the GDP. Accordingly, the government will set up a strategic transport projects that will include the regulation of land transport drivers' professional qualifications.
Jordan's tourism revenue has increased by 1.2% in the first two months of 2017 reaching 652 MM USD compared to 561 MM USD in the same period last year.
Kuwait has announced issuing its inaugural dual-tranche 8 BN USD bond offering into the international debt markets.
Qatar's onshore oil price has increased in February 2017 above its price in January reaching 55.11 USD a barrel. This concludes that the oil price has remained 10.1 USD above the price of 45 USD a barrel that is approved in the state budget.
Saudi Arabia could achieve a budget surplus by 2019 if all the reforms in the fiscal balance program are implemented.
Abu Dhabi's government-owned power utility aims to close a financing package for a 3.2 BN AED (872 MM USD) solar power plant, which will be the world's largest, in April 2017.
Dubai's non-oil foreign trade in 2016 has reached 1.27 TR AED (347.4 BN USD) despite the global slowdown.
Egyptian President Abdel Fattah Al-Sissi has issued a pardon for 203 youth who were prisoned for participating in demonstrations.
Unites of the Armed Forces of the sisterly Arab Republic of Egypt have arrived to UAE to participate in "Zayed 2" joint military exercise to strengthen the bonds of cooperation, joint action and exchange of expertise in military fields. The exercise will run until the end of March 2017. It is worthy to mention that the first exercise between the two countries was in 2014.
The death toll from a double bomb attack targeting Shi'ites visiting a pilgrimage site in Damascus has climbed to 74.
Pope Francis will visit Egypt in April 2017 reflecting an improved Vatican-Muslim dialogue after years of tension.
Arcapita, Bahrain-based investment firm had bought a group of warehousing facilities in Dubai worth 150 MM USD, raising the total value of its logistics portfolio in UAE to 250 MM USD.
EFG Hermes has completed the acquisition of 51% of Pakistan's listed brokerage House Invest & Finance Securities Ltd (IFSL).
Bahrain-based Arab Banking Corporation (B.S.C) (Bank ABC) has announced the opening of a branch in the Dubai International Financial Centre (DIFC).
United Real Estate Company (URC), leading real estate development company in the Middle East and North Africa has announced a 39.17% acquisition in leading Kuwaiti building materials company Insha'a. This was the first acquisition of URC in the building and construction sector.
SoftBank Group Corp Chairman Masayoshi Son will meet King Salman on Tuesday 21st of March 2017 in Tokyo to establish a 100 BN USD technology-investment fund.
Zain Saudi Arabia will be awarded the first high-speed Mobile Broadband project for rural areas as announced by Communications and Information Technology Commission (CITC).
Kuwaiti telecommunications group Zain has reached the final stages of selling its mobile transmitter towers in the country.
Ooredoo has signed MoU with Al Raffd Fund to provide support for Small and Medium Enterprises (SMEs).
Doha Bank has unveiled a new co-branded mobile application "Doha Bank My Book Qatar" on Apple App store and Google Play store. It will be responsible for the deals and voucher schemes that cover dining, beauty and wellness, leisure activities, health services and kids' activities.
Qatar's Barwa Real Estate, had realized a boost in the net profit of Q4-2016 amounting to 100 MM QAR (27.47 MM USD) compared to a net loss of 518 MM QAR (142.26 MM USD) a year earlier.
Aldar Properties expects lower sales in 2017 after flat Q4-2017 profit. Net attributable profit has declined to 728.9 MM AED (198.2 MM USD) in Q4-2016 compared to 734.6 MM AED (200 MM USD) in Q4-2015.
Sports and Culture
The Ministry of Labor and Social Development of Saudi Arabia has announced plans to establish 200 family counseling centers in various parts of the Kingdom by 2020.
More than 70% of Qatar's population are either overweight or obese and nearly half of all men are found obese. In addition, 83% of the population do little or no physical exercise, 41% are not participating in any physical exercise and 45% of participants consume fast food more than three times a week.
El Gouna Egypt is planning to host El Gouna International Squash Open Tournament for men, in addition to hosting the Orascom Development PSA Women's World Championship.