Issue  No.103
12 December 2016

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


        56.71  USD         1,156  USD


  Economic Outlook
  • A 3% salary increase is granted to Oman's employees starting 2017 compared to a 4% rise last year. Among other Gulf countries, the UAE is set to see the slowest real wage growth of 0.5%, followed by Saudi Arabia and Kuwait at 0.8% each.
  • Islamic bonds will be launched by Morocco in H1-2017. It is worth mentioning that the issuance is the first of its kind and will be launched in the country's domestic market.
  • Tunisia will need 3.7 BN USD in foreign loans in 2017 according to finance minister as the country needs to bridge its budget deficit which is expected to be 5.4% of its gross domestic product in the coming year.
  • Foreign investments flow in Tunisia has declined by 10.1% in the first 10 months of 2016 compared to the same period in 2015. However, the end of year outlook is promising following the organization of the international investment conference "Tunisia 2020".
  • Egypt's Urban consumer inflation witnessed a 19.4% surge in November 2016 compared to 13.6% in October 2016 after the country's application of a floating exchange rate system.
  • China and Egypt concluded a 2.62 BN USD three-year bilateral currency swap, a move that importers and economists said would facilitate trade and improve foreign currency liquidity in Egypt.
  • Saudi Arabia guaranteed 139 BN USD in humanitarian assistance to 95 countries during the past 40 years.
  • 13 BN USD will be invested in Qatar's infrastructure projects in 2017 amounting to 46 BN QAR as part of a strategy to achieve sustainable development and economic diversification.
  • Qatar's economic growth will peak to 3.4% in 2017 amid the country's plans to strengthen and diversify the economy especially in the services sector. It is worthy to note that the hydrocarbon sector is expected to grow by 0.8%
  • 2.8 BN USD were pledged to Jordan in foreign, regular, additional and humanitarian aid in 2016 according to the Kingdom's Minister of Planning and International Cooperation.
  • Germany pledges 10 MM USD in aid to Lebanon to help the country cope with the influx of refugees after meeting with the Lebanese President.
   Political Events
  • A bomb explosion took place in the Coptic Christian cathedral complex in the Egyptian capital Cairo which has killed at least 25 people following a bomb explosion at a police check point which killed six policemen on a main road leading to the pyramids at Giza.
  • An evacuation of patients in Aleppo's old city hospital took place to be the first major evacuation from the eastern sector. It is worthy to note that the hospital had nearly 150 patients in need of medical care.
  • An earthquake hit Indonesia at a magnitude of 6.5 killing 93 of Indonesia's Aceh province's citizens according to the provincial government.
  • A ship sinks carrying more than 60 passengers including women and children, while sailing to Socotra island in the Indian Ocean from Hadramout province in mainland Yemen.
  • Tunisian Lawyers  demonstrated in front of the country's prime minister office over increasing taxes.
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

     Like us on Facebook  View our profile on LinkedIn Find us on Google+ Follow us on Twitter View our videos on YouTube View on Instagram