Issue  No.41
28 September 2015

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


        48.60 USD        1,146 USD


 Economic Outlook
  • Standard & Poor's (S&P) predicts that it would take longer for prices to recover as it amended its forecasts for 2015 for both Brent and U.S. crude down by 5 USD from its previous forecast. 
  • According to the head of Customs Authority, Egypt customs revenues have reached 21.73 BN EGP during the 2014/2015 fiscal year with 19.4% increase compared to the previous year figures.
  • In 2016, Trade exchange and mutual investments between Saudi Arabia and Germany are expected to witness a remarkable jump as new projects will be established in energy and solar power sectors in addition to digital technology.
  • According to Fitch -the international rating agency- due to low oil prices, Gulf countries' currency pegs to the dollar are under pressure however they will stick to currency dollar pegs.
  • In Dubai due to the rise in number of expatriates, the shortage of affordable houses and the reduction in overseas allowances since the financial crisis have pushed foreign staff of middle incomes out to the suburbs far from the center of Dubai.
  • Tahya Misr fund will support and finance Small and Medium-sized enterprises (SMEs) through establishing a holding company with authorized capital of 5 BN EGP and paid-up capital estimated at 2 BN EGP to fund constructing comprehensive industrial complexes for SMEs.
  • Saudi Arabia and Bahrain have signed contracts of 300 MM USD to lay a new 350,000-barrel per day oil pipeline between the two countries that will be finished by the end of 2017.
  • Qatar's projects market is expected to grow in 2016 as new contracts that are worth 30 BN USD will be signed in the light of FIFA World Cup in 2022 preparations.
  • Jordan and China have signed agreements and MOU worth 7 BN USD that include a power plant of 1000 MW capacity besides building a 1000-donum and an industrial city inside the southern port city of Aqaba that will focus on the electrical and electronic industries. 
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