This report is designed to give you a snapshot about the MENA region tackling multiple issues:
55.58 USD 1,231 USD
Egypt will receive 500 MM USD from Germany; 250 MM USD to support economic program and 250 MM USD to support the country's micro-enterprises and small and medium sized enterprises (SMEs).
Abu Dhabi is launching an energy retrofit program to reduce the energy consumption in the Gulf emirate which was more than doubled over the past 10 years and was expected to grow even more in the coming years.
According to the Ministry of Development, Planning and Statistics, Qatar's foreign surplus had increased by 1.8% in January 2017 amounting to 10.9 BN QAR (3 BN USD) compared to 10.7 BN QAR (2.94 BN USD) in December 2016.
has begun constructing its Iran-Azerbajan railway to be directly connected to the European marketplace; transporting goods and passengers. This project is considered a part of a larger national development project called the North South Corridor.
agreed to provide a 12.29 BN USD loan to Iraq to help the country finance some of its important infrastructure projects, as announced by the Iraqi finance ministry.
Saudi Arabia and Indonesia have signed 11 agreements worth 3.67 BN USD in effort to break down trade barriers and increase investments in various sectors among which are electric power production, health care, medical services, housing projects, tourism and Haj and Umra services sectors.
Saudi Arabia's Public Investment Fund (PIF) has signed deals worth 50 BN USD in the technology sector throughout the last year. The Kingdom has injected 100 BN SAR (20.67 BN USD) in the last year's capital and ambitiously aims to make it the world's largest sovereign wealth fund worth 2 TR USD.
Jordan had recorded 7.8 BN USD in tourism revenues and expatriates' remittances in 2016 witnessing an increase compared to last quarter figures.
The Qatari Businessmen Association has received a delegation from the Republic of Malta to discuss the potential investment opportunities and partnerships between Qatar and Malta.
Lebanon launched a 20 MM USD seed fund for start-ups in the Middle East. The fund is aiming to invest in 100 start-ups for the next five years.
KFH Capital, a main investment arm of Kuwait finance house, had issued a 500 MM USD sukuk that was rated as BBB+ by Standard and Poor's in order to support Kuwait's national economy. The sukuk would mature in 7 years, offering a coupon of 3.94%.
The Ghanian president Akufo-Addo has indicated that his government wants to build strong diplomatic and economic relations with Qatar in effort to attract investments to Ghana and help it return onto the path of progress and prosperity.
Egypt's former president HosnyMubarak was acquitted from all charges after 4 years of being deposed post 2011 uprisings. Mubarak's last charges were of relation to the killing of 900 protestors in January 2011.
Egypt has achieved90% of its flight security road map required to resume Russian flights to tourist destinations. This comes after Russia has halted all its flights to and from Egypt due to its plane which crashed in October 2016.
Canada will provide 10 MM CAD (7.48 MM USD) aid to Jordan over a 3-year period focusing on the education sector, as one example of international assistance to the Kingdom as it deals with the strain of hosting a large refugee population.
Etihad Airways, the national airline of the United Arab Emirates (UAE), and EGYPTAIR, the flag carrier of Egypt, had announced a new codeshare partnership to be introduced at the beginning of March to open new skies for both airlines' customers.
UAE's Etisalat Group and Ericsson had signed a strategic agreement to deploy the first-of-a-kind Unified Delivery Network (UDN) platform across the Middle East in 2017 allowing Etisalat to offer its clients over-the-top services and high quality video content.
Attijariwafa Bank, one of Morocco's biggest banks, had signed two agreements with Ivory Coast's Ministry of Defense in order to finance two new military camps as well as establishing a line of credit to finance housing for members of the Ivory Coast's Armed Forces.
Al Baraka Banking Group(B.S.C) (ABG), a leading Islamic banking group in Bahrain, had signed an agreement to sponsor the prime "Musharaka" Islamic finance program in CNBC Arabia, which embodies their commitment to cooperate with high-profile media organizations and enhance the emergence of the group.
Almamlka Foods, an Egyptian company, is planning to open a factory for food and oil extraction in Egypt on an area of 25,000 sqm through a collaboration with Algerian and Moroccan companies with an initial injected capital of 250 MM EGP (15.015 MM USD).
Saudi Telecom Co. (STC) had signed 5 memorandums of understanding (MoUs) at the Mobile World Congress in Barcelona with various telecommunication companies to develop 5G technology alongside its human resources.
Qatar's National Cement Company (QNCC) aims to boost its cement production by 5500 tpd (tons per day) during H1-2017. The company plans to commission two cement mills and complete the construction of the plant during H2-2017.
Kuwait has signed a 15 MM BP (18.45 MM USD) lamb import deal with the UK according to Defra minister George Eustice. The deal with the UK has been signed after Kuwait lifted its lamb importation ban from the UK which was imposed due to concerns about scrapie- a degenerative disease that affects the nervous system of sheep and goats.
Kuwait is expected to post a 5 BN KWD (3.27 BN USD) budget deficit. This deficit is increasingly or decreasingly subject to the developments in the price of oil during the last month the current fiscal year.
Sports and Culture
British playerAndy Murraybeat Spanish playerFernando Verdasco to win his first ever Dubai Tennis Championship title.
Lebanon will host legends of FC Barcelona and Real Madrid CF on 28th of April 2017 at the Camille Chamoun Sports City Stadium in its capital city, Beirut.
Saudi Arabia has established the King Salman Center for Global Peace in collaboration with Malaysia to help combat radicalism, find solutions for the Israeli-Palestinian conflict and the crisis in Yemen and Syria.
Egyptian Researchers at Nile University are developing biodegradable plastic bags by buying unwanted shrimp shells from restaurants, supermarkets, and local fishermen at cheap prices.