Issue  No.88
23 August 2016

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


        48.58  USD          1,338  USD


  Economic Outlook
  • According to the National Bank of Abu Dhabi, UAE's personal loans have reached 430 BN AED amounting to a 7.5% rise in the country's total debt levels compared to the last year.
  • According to Qatar Rail, the construction of the Doha metro is running at full capacity and its first three lines are expected to be up and running by the end of 2020 as more than a 100 KM of the project tunnels out of the total of 111 KM have been dug.
  • Abu Dhabi's new health insurance law is burdening Emirati families as they are now obliged to pay 20% of the total cost of care at any private health facility. It is worth mentioning that 95% of the patients at private care facilities are local citizens.
  • Amid the country's steps to cut energy subsidies, Oman's Public Authority for Electricity and Water (PAEW) has reported that it is working with the Electricity Regulation Authority and other agencies to introduce a fully cost-reflective tariff for large industrial consumers of electricity.
  • Tunisia's economic growth rate has witnessed a 1.4% rise in Q2-2016 compared to the same period last year. The rise is mainly driven by the increase in the added value of the manufacturing industries.
  • Egypt has signed a 2 BN USD deal with Saudi Arabia as the former is struggling to obtain a bilateral financing in the range of 5 to 6 BN USD in order to ensure being granted the International Monetary Fund loan of 12 BN USD.
  • An Omani startup is launching the production of the first solar panel production in the sultanate. It is worth mentioning that the project is currently in the design stage while the construction part is expected to start once it is granted officials' approval.
  • The UAE's employment market is witnessing a 22%  decline in job opportunities with online job listings dropping significantly for the first time in July 2016.
  • Saudi Arabia's imports have decreased by 20.3% in May 2016 and non-oil exports have fell by 0.4% compared to a year earlier.
  • Egypt's telecoms regulator has approved revised terms for 4G mobile broadband network licenses in which the government has offered to Telecom Egypt and to the country's 3 mobile services' providers. Yet, only Telecom Egypt accepted the terms.
  • Iran's crude oil exports in July 2016 have reached more than 2.1 MM barrels per day. However, the country has not yet managed to reach its pre-sanctions' level which amounted to 2.35 MM barrels of crude per day.
  • According to Jordan's department of statistics, the country's inflation rate has witnessed a 1.3% drop in the first seven months of 2016 compared to the same period last year.
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

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