- Amid a low seasonal demand in Europe, Iran's oil exports are set to decline at a four- month low rate of 5% in November 2016 to reach 1.89 million barrel per day.
- Kuwait has raised the minimum requirement for family visas from 250 to 450 KWD in a move that is believed to adversely affect the familial life for those earning below the threshold.
- To develop major projects that will help diversify the economy, Oman aims to attract private sector funding to finance 80% of the projects in a move to minimize state funding amid the oil crisis.
- Egypt's central bank will provide 10 BN EGP of finance to youth-led technological projects in a move to increase economic feasibility. The money is part of the bank's 200 BN EGP initiative to support and boost small and medium-sized industries.
- The volume of trade exchange between Egypt and Poland is expected to reach approximately 600 MM USD by the end of 2016.
- Qatar's producers price index (PPI) rose about 3% in August compared to last month as a rebound in global oil market has lifted the sentiments of domestic industrial sector.
- Abu-Dhabi's non-oil foreign trade has increased in H1-2016 to reach 84.349 BN AED through various customs ports registering an increase of 59 MM AED compared to the same period last year.
- Amid the oil crisis, Qatar's trade surplus has declined at a rate of 25.8% in September 2016 compared to last year.
- According to Jordan's department of statistics, the country's unemployment rate has stood at 15.8% in Q3-2016 whereas the jobless rate stood at 13.8% for men and 25.2% for women.
- Egypt's petroleum minister has announced that the ministry has signed around 70 new agreements with investments worth 15 BN USD during the last three years.
- Qatar's central bank has reported that Qatar's banks "remain healthy" overall as more than 80% of their non-performing loans are provisioned.
- Due to torrential rain and flooding in Egypt; 7 people were dead and 23 injured in Ras Ghareb, Hurghada, 6 people were dead and 24 injured when two buses and three other vehicles overturned in floods on a highway in Sohag. In addition, 2 people died as a result of the Fayed's thunder.
- Turkish jets and armor, in support of Syrian rebels, have struck Kurdish fighters in recent days as they compete to capture land from Islamic State that Ankara demands as a buffer zone against militants near its border. The fight is complicating plans to drive their mutual enemy Islamic State from its Syrian capital Raqqa.
- To take the Iraqi city of Mosul from the Islamic State, France announced that it would prolong until mid-December the operations of the French naval group including the Charles-de-Gaulle aircraft.
- According to judicial sources, an Egyptian court confirmed a 20-year prison sentence against former president Mohamed Mursi over the killings of protesters during demonstrations in 2012.
- Extending a series of demonstrations against austerity measures in the 2017 budget, thousands of Tunisian lawyers went on strike to protest the new taxes and tighter fiscal controls on their profession.
- .TASI's banking sector has increased supported by The National Commercial Bank (NCB).
- .QSI's real estate sector dropped led by Mazaya Qatar.
- .ADI's telecommunication sector dropped led by Etisalat. In addition, the real estate sector led by Eshraq and Aldar Properties.
- .DFMGI's real estate sector has climbed led by Emaar Properties.
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Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- As a result of falling oil prices and a highly competitive local market, the Saudi telecom subsidiary, Kuwait Viva, has reported a 14% fall in Q3-2016 net profits.
- Greece's privatization agency has sold Astir palace a luxury seaside resort outside Athens, to Turkish-Arab fund Jermyn Street Real Estate Fund at 400 MM EUR.
- The Islamic Development Bank (IDB) has appointed 9 banks - including: Boubyan Bank, Credit Agricole, Gulf International Bank, JP Morgan, Mizuho, Natixis, NBAD, RHB and Standard Chartered - to arrange a new Islamic bond issue which is likely to exceed 1 BN USD.
- To establish a major bio-refinery complex at the Duqm Special Economic Zone (SEZ), Omani-Indian joint venture Sebacic Oman will invest around 1.2 BN USD over the project which is expected to be done over a 10-year time frame.
- Twitter Inc. has witnessed a sharp slowdown in its revenue growth rate in Q3-2016 as it reached 8% compared to 20% growth rate in Q2-2016. The company is also willing to cut its global workforce by 9% this year.
- Unilever has established a new personal care manufacturing facility in Egypt worth 24 MM USD. The factory is located in the 6th October city.
- SATS, Singapore's biggest ground handler at Shanghai Airport,`is investing nearly 108 MM SAR to build new air cargo facility at King Fahd International Airport (KFIA) in Dammam.
- Emaar, Dubai's largest property developer is expecting to reduces its costs by 20% in 2017 according to its chairman.
- Nissan company has completed the acquisition of 34% equity stake in Mitsubishi Motors Company (MMC).
- According to Egypt Central Bank, net foreign direct investments (FDI) has fallen by 21.5% in the financial year ending 30 June 2016 to stand at 992.9 MM USD.
Sports and Culture
- Japan has secured a 460 MM USD loan to Egypt to finance the completion of the Grand Egyptian Museum. The museum will be a display for the country's pharonic history.
- The world's first nature inspired mall is to be launched in Dubai by Cityland group. The mall is scheduled to be opened in Q2-2018 and is expected to receive 12 million visitors annually.