Issue  No.119
3 April 2017

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


        53.48  USD         1,245  USD


  Economic Outlook
  • Egypt plans to increase its exports to 34 BN USD by 2020 from 19 BN USD through implementing specific export plans and policies.
  • Trade exchange between Egypt and Pakistan has reached 182 MM USD during the first 10 months of 2016. Pakistan exports to Egypt amounted to 83 MM USD in the same period, while Egypt exports to Pakistan reached 99 MM USD.
  • Jordan has signed a Memorandum of Understanding (MoU) with Iraq to promote and develop agricultural cooperation between the two countries.
  • Iraq has reduced its oil production by more than 300,000 barrels per day (bpd) to reach 4.464 bpd in March 2017 as part of the supply cuts decided by OPEC.
  • Jordan and Germany have signed a 44 MM EUR grant agreement to fund the Energy Supply for Host Communities and Syrian Refugees project's second phase. The project aims to reduce the electricity costs by generating electricity from solar energy at a 30-35 megawatt capacity.
  • Oman Central Bank has signed an MoU with the Iranian Central Bank to strengthen the financial and economic cooperation between the two countries.
  • Qatar population reached 2.6 million at the end of February 2017 with an annual increase of 5% compared to the same period last year.
  • Saudi Arabia's number of expatriate student enrollment in the international schools has declined by 25% due to the economic fluctuations, yet a rise is expected to be witnessed as a result of several reforms.
  • UAE has cut oil production by 200,000 barrels per day (bpd) in March 2017 and is expected to cut production by more than 139,000 bpd in the coming months.
   Political Events
  • Saudi King Salman and Jordan King Abdullah witnessed signing several memoranda of understanding (MoU) and joint investment deals worth billions of dollars including the establishment of a Saudi-Jordanian investment company worth 3 BN USD, and investment protection agreement loan worth 105 MM USD to rehabilitate and maintain the Jordanian desert highway that links Amman with the southern city of Aqaba.
  • Ten members of Egypt security forces were killed during a military operation against suspected militants in the Sinai Peninsula.
  • The crime rate in Oman has declined by 7.5% in 2016 as a result of constant efforts of the law enforcement authorities and awareness campaigns. The total number of cases dropped to 37,972 in 2016 compared to 41,072 in 2015.
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   Stock Market
  • .TASI banking sector has increased led by Alinma Bank and telecommunication sector led by Saudi Telecom Co. (STC).
  • .KWSE banking sector has declined led by Gulf Bank of Kuwait (GBK) and Commercial Bank of Kuwait (CBK).
  • .QSI banking sector has declined led by Doha Bank.

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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