Issue  No.48
16 November 2015

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


        44.78 USD        1,092 USD


    Economic Outlook
  • Qatar Financial Centre's chief executive announced that the center will pass new laws providing a higher access to foreign investors into the local market.
  • Despite the expectations of the Egyptian currency depreciation, surprisingly, the Egyptian central bank strengthened its currency by 0.20 pounds against the dollar reaching 7.8301 to the dollar. 
  • According to a report by the real estate consultancy JLL, Dubai is the third most globalized among emerging cities after Shanghai and Beijing, thanks to the combination of many characteristics of both established and emerging cities and its impressive and extraordinary rise.
  • After the recent drop in corporate sukuk issuance, the Kuwait's financial regulator has released new rules that aim at promoting the sales of both government and corporate sukuks.
  • As Iraq is seeking a funding program from the IMF to reduce its budget deficit, the government agreed on its condition to allow the IMF to monitor its economic policies.
  • Seeking new ways to cover its budget deficit caused by low oil prices, Saudi aims to start selling bonds in the international markets by the beginning of 2016.
  • As a part of its plan to make broadband more affordable, Oman intends to spend 450 MM OMR over the next ten years to improve communication services.
  • Jordan's department of statistics reported 0.7% fall in inflation rates over the first 10 months of 2015 compared to the same period of last year, where the main items influencing this fall were transportation (14.4%) and fuel and lightning (12%).
  • Supporting the vital tourism rates in Egypt -after the adverse effect of the Russian plane crash on it- , Saudi Airlines announced that it will increase the frequency of its flights to 14 per week from the kingdom to Sharm Al-sheikh starting February 2016.
  • The UAE's ministry of labor announced that companies which fail to report occupational injuries in the workplace will be charged a 10,000 AED fine.
  • Egypt's unemployment rate reached 12.8% in Q3 2015 compared to 12.7% in Q2 2015; however, it was lower than that of Q3 2014 which amounted to 13.1%.
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