Issue  No.115
06 March 2017

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


        55.58  USD         1,231  USD


  Economic Outlook
  • 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.
  • I
     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.
  • Britain
    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%.
   Political Events
  • 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 Hosny Mubarak 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 achieved 90% 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.
Cairo Office:
Z epter Office Building  S5-6,  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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