This report is designed to give you a snapshot about the MENA region tackling multiple issues:
56.76 USD 1,222 USD
Saudi Arabia's construction market is expected to grow more than the double in 2025, reaching 362 BN SAR, compared to 170 BN SAR in 2016.
Central Bank of Egypt (CBE) has received a 4 BN USD from Eurobonds sale, which has raised twice the sum targeted and at lower yields than expected. Egypt has decided that it will not issue more international bonds during FY 2016/2017.
Egypt's M2 money supply has increased by 39.52 % compared to the previous year, reaching 2.7 TR EGP.
Egypt will raise the cooking oil price from 10 to 12 EGP per 800 ml bottle while sugar price will increase from 7 to 8 EGP per kg.
Bahrain and GCC are implementing Value Added Tax (VAT) starting from January 2018 as a part of the government policy reform to achieve economic development.
Iraq has started to double its crude oil capacity to 1.2 million barrels per day at one of its two Southern offshore oil export terminals.
The Jordanian government is aiming to raise the sales tax on non-essentials commodities to cover the budget deficit by generating 450 MM JOD (635.2 MM USD) in revenues, around 35% of this amount will come from an increase in sales tax.
Kuwait has set its vision for 2035, starting with a five-year development plan that amounts to 15 BN USD during 2017 and 2018 and 100 BN USD until 2021. The 2035 plan aims to diversify the economy away from its independence on oil revenues and transform Kuwait into business and cultural hub for the region.
Qatar's total domestic public debt has increased by 29.7 BN QAR reaching 427.8 BN QAR in 2016.
An increase in the value of crude exports, helped Qatar's trade surplus to amount to 10.75 BN QAR in December 2016, showing 21.7% growth year-on-year and 10.7% month-on-month.
Tunisia plans to cut 50,000 public sector jobs in 2017 as a part of a government reform to reduce the government high expenditure.
Morocco has been formally readmitted by the African Union as a member after more than 30 years.
In response to Trump's immigration curbs from 7 Muslim countries, Starbucks has announced that it will employ 10,000 refugees over the next five years. While Uber has taken a different stand as it lowered the cost of the ride during the protest when people flooded to the airport against Trump's call.
Saudi Arabia's king has agreed on a phone call with Trump to establish safe zones to protect Syrian and Yemeni refugees. However, Iraq Shi'itie paramilitary groups urge the Iraqi government to suspend Americans from entering Iraq in reaction to Trump's travel curbs. Yet, Iran's foreign minister stated that Americans with Iran's visa are allowed to enter the country.
An off-duty policeman was killed in Bahrain in what the interior minister called terrorist act as he was not on his duty based on the initial indications.
Iran Khodro and Peugeot signed a contract to establish a joint company in Iran to produce Peugeot cars and investing 100 MM EUR.
Naguib Sawiris is considering a new real estate project in Cyprus with his Cypriot business partner Stavros Caramondanis with value amounting to 235.37 MM USD, targeting UAE investors. It is estimated to be completed by the 2021.
Negotiations between Egypt and companies from US, UK and Spain are taking place regarding a pharmaceutical zone project in the Northern Suez governorate to be implemented in Q1-2017 which requires building factories on an area of around 4 SQ km.
Bahrain's first Indian business partnership will take place at Gulf industry fair on the 7th of February for trade and economic ties between the two countries.
Royal Jordanian and Alitalia signed an agreement to offer various travel choices and improve network connectivity between Italy and Jordan
Saudi Arabia'sAtheeb Telecommunication Co has agreed to sell some of its mobile towers to rival operatorSaudi Telecom Co for 230 MM SAR (61.33 MM USD).
Qatar Finance and Business Academy (QFBA) has signed a Memorandum of Understanding (MoU) with the Jordan-based Arab Insurance Institute, to facilitate close cooperation between the two parties in providing insurance education and training services in Qatar.
A group of Chinese investors have signed an agreement with Oman's government to set up 35 projects worth 10.7 BN USD in an industrial city to be constructed at Duqm.
Sports and Culture
Saudi women have been allowed and licensed to sell food on street carts, Jeddah will be the starting point as chosen by the Social development bank with a 250,000 SAR fund.
Cameron wins the Africa Cup of Nations scoring 2-1 against Egypt. It marks the first timethey have beaten the Egyptians in the final in three attempts.
Jordan perceive women role as vital for economic growth where the country's aim is to empower women in the private and public sectors to reach decision-making positions and achieve progress at their workplace.