Issue  No.99
14 November 2016

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


        44.02  USD         1,224  USD


  Economic Outlook
  • The UAE food sales are projected to increase at an annual average of 7.3% growth rate reaching 16.7 BN USD by 2020, according to BMI.
  • According to Egypt's central bank, the country's core inflation rate has risen to reach 15.72% (y-o-y) in October compared to 13.93% last month.
  • According to a study by the International Finance Corporation (IFC), The global agreement on climate change adopted in Paris last year is expected to generate business opportunities worth around 265 BN USD across the MENA region.
  • Oman's ministry of manpower announced its willingness to increase the expat workers' visa fees by 50% which is expected to generate 148 MM OMR to the sultanate over two years.
  • To help bridge its budget deficit and boost its foreign reserves, Egypt has issued 4 BN USD in international bonds in a private placement to help revive its economy.
  • According to Jordan's finance ministry, the Kingdom's total public debt has reached 26.046 BN JOD by the end of September which amounts to 95% of the gross domestic product (GDP).
  • The Omani Chamber of Commerce has reflected the willingness of the Sultanate's government to provide medical insurance for all private sector workers for Omani and expatriate workers starting 2018.
  • Egypt's central bank initiated a repurchase transaction with a consortium of international banks for a total amount of funding of 2 BN USD with a maturity of one year.
  • Abu Dhabi's rental rates have decreased by 5% (y-o-y) in Q3-2016 for prime residential units. The drop was driven by increasing job cuts and slower economic growth in the emirate.
  • To support Jordan's economic growth reforms, The EU has granted a 200 MM EUR loan to Jordan. The loan will be disbursed in two installments and have a maximum average maturity of 15 years.
  • Bilateral Trade between the UAE and the EU has exceeded 32 BN AED in H1-2016. It is worth mentioning that the UAE was EU's 13th largest trading partner and the eighth largest destination of European exports in 2015.
   Political Events
  • Ending eight years of Democratic rule, Republican Donald Trump has won the American presidential elections beating the democrat Hillary Clinton putting the United States on an uncertain path.
  • Saudi Arabia's minister of justice has launched a forensic indicator website which provides electronic follow-up for clear assessment of performance.
  • The Syrian Army has claimed full control over a strategic district in the Syrian city of Aleppo. However, rebels are fighting to retain it.
  • Suicide bombers on caused the death of 21 and the injury of dozens at a checkpoint for Shi'ite pilgrims in two Iraqi cities: Tikrit and Samarra.
  • Egypt's ministry of interior has reported that the Egyptian judge who tried former president Mohamed Mursi in 2015 survived an assassination attempt through a car blast near his vehicle.


Cairo Office:
Z epter Office Building  S5-6 (beside Manor House School),  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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