Issue  No.101
28 November 2016

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


        47.80  USD         1,194  USD


  Economic Outlook
  • According to Lebanon's central bank, the country's economic growth rate is expected to reach 1.5-2% in 2016 while the inflation rate is forecasted to be 0% in the same year.
  • According to the Central Bank of Oman, the kingdom's commercial banks' credit grew by 7.8% while deposits slightly increased by 1.5% in September 2016.
  • Oman's budget deficit inched up to 4.42 BN OMR at the end of September 2016 compared to 4.37 BN OMR in August 2016 driven by an 8% fall in public spending.
  • According to National Center for Statistics and information (NCSI), Oman's nominal GDP declined by 11.1% in H1-2016 amounting to 11.51 BN OMR compared to 12.95 BN OMR H1-2015.
  • The Global Wealth Report has top ranked Qatar and UAE in the average wealth per person in the Middle East and North Africa region in 2016.
  • Qatar's producer price index (PPI) - an indicator which measures industrial sector performance - has increased by 3.7% in Q2-2016 compared to Q2-2015.
  • Sudan's Central Statistics Office has reported a rise in the country's annual inflation rate to 19.6% in October 2016 from 18.32% in September driven by a rise in the price of foodstuffs and transportation.
  • Despite a 4% fall in the country's total exports, Jordan's trade deficit shrank by 10% in the first 9 months of 2016 driven by an 8.1% drop in the total value of the country's imports during this period.
  • Morocco's annual consumer price inflation (CPI) has declined to 1.6% in October 2016 compared to 2.3% in September 2016 as the increase in food prices has slowed down.
  • Driven by high imports, Morocco's trade deficit has increased by 15.8% to reach 14.87 BN USD in the first 10 months of 2016 compared to the same period last year.
  • Egyptian banks have attracted 3 BN USD after the country's central bank has taken a step to float the currency in which lenders have started to operate under the newly liberalized exchange rate.
  • Saudi Arabia's government has repaid 40 BN SAR of delayed payments that were owed to private sector companies. It is worthy to note that the payment delays have caused severe financial problems for some companies, particularly those in the construction industry.
   Political Events
  • The CEO of Abu Dhabi Islamic Bank (ADIB), Nevine Loutfy was found murdered at her home in Cairo last Tuesday. Egyptian police arrested the suspected  killer that has been identified as 49-year-old Abdel Aty Saber, who used to work as a security guard for a year and a half in the compound where Loutfy resided.
  • Aleppo's Syrian armed opposition have agreed to the U.N plan for aid delivery and medical evacuation. However, the U.N is still awaiting Russia and Syrian government approvals.
  • Three Turkish soldiers were killed in a suspected Syrian airstrike. It is worth mentioning that the strike appears to be the first Turkish casualty at the hands of the Damascus government forces since Ankara launched an incursion into Syria three months ago.
  • Bahrain's public prosecution office has reported the sentence of six people to life in prison by a Bahraini court over attempted police bombing in May 2015.
  • A new Qatari law will allow newly arrived expatriates in Qatar a period of 30 days to start the process of regularizing their residency in the country. The law will be implemented next month.
  • 293 candidates, including 15 women, had run for Kuwait's parliamentary elections which took place on the 26th of November, 2016.
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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