Issue  No.47
9 November 2015

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


 



        47.42 USD        1,089 USD

 
/USD
/EUR
EGP
8.03
8.62
AED
3.67
4.00
QAR
3.64
4.00  
SAR
3.75 
4.03
BHD 
0.38
0.41
OMR 
0.39  
0.41

 
    Economic Outlook
  • Last week, Egypt's top two state banks - Banque Misr and National Bank of Egypt - had provided 800 MM USD to clients to release their goods held up at the ports due to the dollar crisis which has been delaying imports.
  • The UAE's job market witnessed a decline of 5% in Q3 2015 to reach 7,621 available job opportunities compared to 8,002 jobs in the same period last year.
  • As reported by the local Saba news agency and banking sources, Yemen's central bank has reached an agreement with commercial banks in order to support the Yemeni Rial which has tumbled over during the civil war.
  • The Egyptian oil ministry has announced that Abdelfattah elsisi -Egypt's president- has approved six new oil and gas exploration contracts for investments worth 2.2 BN USD.
  • After regional turmoil hit its main trade links, Jordan will start negotiating new extended facility fund, to replace the three-year 2 BN USD standby arrangement program that ended this summer, with the IMF to help support its economic growth rate. 
  • After the Business Opportunities Forum conducted by  Oman Airport Management Company (OAMC), A senior official reported that Muscat's new international airport will award 100 MM OMR contracts in which 10% of them will be given to small and medium businesses.
  • The High Commission For the Development of Arriyadh (HCDA) has approved investment projects worth 21 BN SAR in the Saudi Arabian capital to promote recreational aspects of the city to the latest designs in the world. It is worth mentioning that these projects are expected to create more than 8,000 job opportunities.
  • According to a new survey by Nielsen, UAE's consumer confidence index fell by one point in the third quarter of 2015 -compared to the second quarter- reaching a score of 107.
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