This report is designed to give you a snapshot about the MENA region tackling multiple issues:
The Egyptian central bank sold 37.5 MM USD at 7.9301 EGP/USD, 0.10 pounds weaker than its last dollar sale. On the parallel market the pound weakened further as it reached 8.40 EGP.
According to official figures, the increase in education expenses, higher rents and costlier tobacco and transport led Qatar to report a 1.5% increase year-on-year (y-o-y) in cost of living, based on the consumer price index (CPI), in September 2015.
Egyptian National Railways Authority targets to attract investments of 90 BN EGP (11.3 BN USD) till 2030. The investments will be directed to have an emergency plan which is estimated at 7.170 BN EGP, medium plan that is worth 14.413 BN EGP and long-term plan for FY2015-16 until FY 2029-30 estimated at 68.41 EGP.
According to KPMG Global Construction Project Owners' Survey in Bahrain, the results reflect that excellent progress has been made by project owners in planning, risk management and execution in recent years which led the construction sector to climb the maturity curve.
According to the latest figures issued by GCC-Stat, Inflation rates recorded in August across the Gulf Cooperation Council (GCC) countries ranged from a low of 0.07% in the Sultanate of Oman to a high of 4.94% in the United Arab Emirates (UAE).
Bahrain's Gulf Air is in final talks to order up to 50 aircrafts to meet the airline's needs over the next decade. Negotiations with manufacturers were expected to finish by Q1 2016, but did not disclose yet which manufacturer was preferred.
Qatar's tourism promotion agency expects tourist arrivals in the country to cross the three million-mark by the end of 2015 as the country's calendar of events and conferences reaches its peak in Q4 2015.
Egypt enters second day of election
withminimal participation of voters, as most governorates reported low and below medium participation ranging from 10% to 15% while most voters were in the age group of 45+, and mostly 60+. Younger Egyptians who make up the majority of the population were virtually absent; with many people expressing doubt that new lawmakers would change anything.
According to military sources, a total of 122 Syrian refugees of various ages entered into Jordan through different crossing points over the past 72 hours.
Egypt's Juhayna Food Industries incurred a 64% increase in its net profit for the third quarter. The company made a net profit of 88.2 MM EGP in Q3 2015, compared to 53.8 MM EGP in the same period a year earlier.
Dubai Electricity and Water Authority (DEWA) announced a consortium led by Harbin Electric International and ACWA Power as the preferred bidder for developing, constructing, owning and operating the first phase of the 1,200 MW Hassyan clean coal power plant.
According to Qatar Central Securities Depository statement, Qatar Gas Transport (Nakilat) will increase its foreign ownership limit to 49% as part of reforms aimed at expanding the stock market and developing the financial industry.
Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, posted an 83.5% fall in Q3 net profit on lower prices for its products. The company made a net profit of 79.9 MM SAR in Q3 versus 485.4 MM SAR in the same period last year.
The Dubai-based contractor Drake and Scull engineering unit had secured a 224 MM AED contract related to work on a hotel complex and the expansion of a mall in the emirate.
In order to provide an improved telecom and ICT service experience, Etisalat announced its strategic partnership with Fujairah Free Zone on the sidelines of GITEX Technology Week 2015.