Issue  No.51
7 December 2015

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


 



        42.76  USD        1,081  USD

 
/USD
/EUR
EGP
7.83
8.52
AED
3.67
3.99
QAR
3.64
3.96 
SAR
3.75 
3.96
BHD 
0.38
0.41
OMR 
0.38  
0.42

 
    Economic Outlook
  • According to Makkah government, the new king Abdul-Aziz airport project will be ready by 2016. It is worth mentioning that the new airport is expected to accommodate at least 30 million passengers.
  • UAE's ministry of international cooperation and development reported that the country has provided foreign aid that is worth 174 BN AED to 178 countries over 44 years.
  • Responding to a long-running currency crisis, Egypt's presidency announced that the country's central bank will inject dollar liquidity into the market this month. In addition, it is planning an exceptional foreign exchange auction.
  • Due to finance pressures caused by low oil prices, Qatar invited banks to provide it with a 5.5 BN USD loan.
  • An official from the UAE ministry of finance has revealed that Gulf states have agreed on key issues for implementing value-added tax in the region, moving the six nations closer to introducing direct taxation for the first time. 
  • According to Jordan's ministry of planning and international cooperation, the volume of financial assistance, grants and soft loans committed to by donor partners, during the perio d between January and October 2015,  reached 2.119 BN USD.
  • According to the latest World Travel & Tourism Council
     (WTTC) report, Oman's tourism sector's contribution to its GDP is expected to rise from 2.2% to 6.1% per year till 2025 to reach 3.3% of GDP.
  • The Kuwaiti ambassador in Cairo announced that his country's total investments in Egypt amounted to 2.8 BN USD. This includes investments in 964 Egyptian projects.

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