- Egypt foreign investments increased by 1 BN USD within two days of the Central Bank decision to raise interest rates. It is worthy to mention that CBE has increased interest rate by 2%.
- General Authority for Supply Commodities (GASC) has bought 180,000 tons of Russian and Romanian wheat in a purchase tender.
- Egypt M2 money supply has increased by 38.7% at the end of April 2017 compared to the previous year. Money supply has reached 2.783 TR EGP (153.5 BN USD).
- Jordan exports of sheep and agricultural production to the Arab Gulf countries are expected to increase during Ramadan. There is a growing demand from Gulf countries for the country's fruits and vegetables, especially summer fruits.
- Abu Dhabi Fund for Development (ADFD) has financed 31 projects worth 5.7 BN AED (1.55 BN USD) in Jordan at the end of 2016. The projects covered several sectors; mining, water and irrigation, transport, housing, agriculture, energy, education and healthcare.
- The price of Kuwaiti oil has declined by 52 cents reaching 47.83 per barrel.
- Food consumption in Kuwait during the month of Ramadan has increased by 40%.
- The Qatari Ministry of Energy and Industry has decided to cut the price for super grade petrol and diesel. The super grade petrol price will cost 1.65 QAR as of June 2017, which is 5 dirhams less than May price.
- The Saudi Electricity Company has confirmed that 89% of fires in public places in 2017 were caused by malfunctioning of electrical equipment and devices.
- Emirates NBD has announced the launch of the Emirates NBD Markit iBoxx USD Sukuk Index (The Index), covering global USD denominated Sukuk (Islamic bonds). The Index will contain 98 Sukuk from 61 issuers with a current market value of over 90 BN USD.
- UAE savings account balances amounted to 158.5 BN AED (43.15 BN USD) during the Q1-2017 with a growth of 3%.
- Six Arab Countries including Saudi Arabia, Egypt, UAE, Bahrain and Yemen have cut diplomatic and economic ties with Qatar in an unprecedented move. This decision was taken in reaction to one of the region's financial superpowers for its ties with Iran and Islamist groups in the region.
- An Egyptian court sentenced a man to death for raping a 20-month-old girl.
- Egyptian President Abdel Fattah al-Sisi signed into law a bill regulating the work of non-governmental organizations NGOs that have been widely criticized by rights groups. The law will restrict the NGO developmental and social work activities. Non-compliant NGOs can be subject to jail for up to five years.
- Kuwait Minister of Health has banned doctors working in the health centers and hospitals of the private sector from "advertising" their services.
- Two people were killed and another injured when a man opened fire inside a private school's administration building in Saudi Arabia's capital, Riyadh but no students were present.
- .TASI banking sector has slightly increased led by Alinma Bank. On the other hand, telecommunication sector has declined led by Viva and Ooredoo.
- .KWSE banking sector has slightly increased led by Boubyan Bank and Ahli United Bank.
- .ADI telecommunication sector has increased led by Etisalat.
Note: Weekly values are calculated on Thursday of each week.
- Qatar Development Bank (QDB) has signed a memorandum of understanding (MoU) for cooperation with Dubai Exports to facilitate business transactions, promote trade, and foster opportunities for greater commerce between the two countries.
- Egypt and the European Bank for Reconstruction and Development (EBRD) have signed a 186 MM EUR (208 MM USD) agreement to finance and upgrade the wastewater plants in the villages that overlook Lake Qarun, the third largest lake in Egypt and an important natural freshwater resource for economic activities in Fayoum.
- The Supreme Committee for Delivery & Legacy (SC) has awarded the contract to build the team training sites for the 2022 FIFA World Cup to two specialized Qatari companies. Nakheel Landscapes and Gulf Contracting will work with the SC to deliver the training sites to FIFA specifications by 2019.
- IKEA has opened three new locations recently as part of its expansion plans in Saudi Arabia . New locations include a store in Al-Salaam Mall in Jeddah, and two Order and Collection Points (OCPs) in Qassim and Kharj.
- Dubai Electricity and Water Authority (DEWA) have awarded 798 MM AED (217.27 MM USD) contract for the third phase of K-Station to Spanish company Duro Felguera. K-Station is part of DEWA's Jebel Ali power and water desalination station.
Sports and Culture
- The Sharjah Chamber of Commerce and Industry (SCCI) has inaugurated the Sheikh Sultan bin Mohammed Al Qasimi Training and Research Centre, under the General Secretariat of the Council of Arab Economic Unity in the Egyptian capital and supported by the chamber.
- In Oman, more than 63,000 workers ran away from their employers in 2016 against 60,000 in 2015. The number of employees fleeing their sponsors has increased by 5% last year compared to the previous years.
- According to Ministry of Development Planning and Statistics (MDPS), Women comprised nearly one-fourth of Qatar population, or about 657,497, at the end of April 2017.
- The issuance of driving licenses to expatriates in Qatar has declined by 8.3% in April 2017 compared to March 2017 (MoM basis) while there is a decline of 8.2% compared to the same month last year (YoY).