- 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.
- 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.
- .QSI's telecom sector dropped by 0.52% as Vodafone Qatar lost. In addition, the banking sector slid due to a decrease in Doha Bank.
- .ADI's telecommunication sector has dropped led by Etisalat. While the banking sector levelled up led by Union National Bank (UNB) and National Bank of Abu Dhabi (NBAD).
- .DFMGI's real estate sector climbed backed by Arabtec Holding. In addition, the investment sector rose as SHUAA Capital and Dubai Investments climbed.
Index Watch list
Weekly % Change
Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- Banque Misr is planning to add 195 branches in 2-3 years, it also plans to raise the number of branches providing Sharia-compliant banking services from 37 to 52.
- Kuwait Airways - the State's national carrier - has reported a 15% growth in on-time-performance levels amid the launch of the highly anticipated winter schedule.
- Stepping up a sales' war in a market segment dominated by its U.S. rival Boeing, Airbus is preparing to fly its largest twin-engined airplane, the A350-1000.
- To help power Qatar's new Hamad Port, Siemens, the global technology giant, was granted a 12.4 MM USD contract, a mega project, with a sizeable energy management package.
- Egypt's Orascom Construction has witnessed a 6.1% rise in Q3-2016 net income amounting to 26 MM USD compared to Q3-2015.
- Egypt's biggest lender, the state-owned National Bank of Egypt (NBE) has provided 5.2 BN EGP to finance small and medium-sized businesses (SMEs).
- Chinese Alibaba cloud has planned to extend its global reach through four new facilities in Dubai, Germany, Japan and Australia as it seeks to grab global market share from leading players Amazon.com and Microsoft.
Sports and Culture
- Instagram has added a new update which sends a notification to you when someone screenshots your direct messages.
- To promote physical exercise in the society. Saudi Arabia has approved a plan to privatize state-owned sports' clubs.
- Saudi Arabia's minister of culture has launched six new electronic services including: the system for media licenses, for reporting media violations, for publication of books and printing material, for advertisements in the Official Gazette of Saudi Arabia, for events and exhibitions, and the ministry's website and electronic applications.