- Egypt will receive the second 1 BN USD tranche of the 3 BN USD World Bank loan in March 2017, to support the government economic reform plan.
- The Central Bank of Iran is stressing for the need of promoting trade using local currencies aiming to ease transactions through domestic currencies and welcoming Malaysian banks' enthusiasm to open accounts in Malaysian currency.
- Iraq's oil reserves have increased from a previous estimate of 143 billion barrels to 153 billion barrels, the increase was due to the appraisals and exploration carried out at seven oil fields in central and Southern Iraq.
- Kuwait has decreased its oil exports by 4 million barrels in January with a current oil production around 3.15 million barrel per day. Yet, the country is planning to raise its oil production capacity to 4.75 million barrels per day by 2040.
- Lebanon's Refugee Affairs Minister calls for 10 BN USD to rehabilitate Lebanese infrastructure and create job opportunities for refugees and impacted host communities.
- Lebanon's real GDP growth rate is expected to increase from 1.4% in 2016 to 3% in 2017. However, economic associations warn that any increase in taxes will affect the Lebanon's economy negatively due to the crisis that hit the country in the past 5 years.
- Morocco's inflation rate has increased from 1.8% in December 2016 to 2.1% in January 2017 as a result of high food and non-food prices. The annual food inflation hiked from 2.5% in December 2016 to 2.8% in January 2017. In addition, the non-food inflation increased from 1.4% in December 2016 to 2.6% in January 2017.
- Oman's vehicle registrations decreased from 8,612 units in 2016 to 6,935 units in 2017, due to the reluctance of people to spend on high value products as a result of the increase in fuel prices and unemployment rates.
- The Qatar international Court and Dispute Resolution Centre (QICDRC) announced a new law on arbitration which aims to resolve international commercial disputes.
- Saudi Arabia's tourism sector is estimated to contribute more than 81 BN USD to the country's GDP by 2026, as household expenditure on the cultural and entertainment activities inside the Kingdom is expected to increase based on the country's 2030 vision.
- Saudi Arabia and Singapore have signed a memorandum of understanding (MOU) to work closely in the water sector, aiming to build three desalination plants at a cost of 687 MM SAR (183 MM USD).
- The International Monetary Fund (IMF) had frozen Tunisia's second tranche of a loan worth 350 MM USD as the country is struggling to achieve economic progress including public sector wages, the public finances and state banks. Which has urged Tunisia to sell stakes in a three state owned banks and cut 10,000 public sector jobs as a part of the IMF loan agreement. It is worthy to note that Tunisia took the first tranche worth 320 MM USD in June 2016.
- The UAE is ranked the first among the region and the eighth globally in the index of Economic Freedom 2017, which evaluates the rule of law, government size, regulatory efficiency and the openness of markets.
- Protests in Lebanon against a new rent law that would increase fees on those who pay less than 700 USD per year. By applying the new law, it will potentially affect 200,000 apartments.
- Coptic families had run away from the threats and terrorist attacks from Al-Arish to Ismailia in Egypt, fearing for their lives after threats by militants increased. Egyptian churches are willing to shelter the families until they could return home.
- 74 migrants' bodies mostly from sub-Saharan African countries were found on West Libya shore as it is the main departure point for migrants hoping to reach Europe by sea.
- Gaddafi's son trial will be sent to the International Criminal Court ICC as it did not meet the international standards as a result of the war crimes and violence.
- .TASI telecommunication sector has declined led by STC and Mobily.
- .KWSE banking sector increased slightly led by Boubyan Bank and Ahli United Bank.
- .QSI real estate sector has increased led by Ezdan and banking sector led by Qatar National Bank (QNB).
- .ADI banking sector has declined led by Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADCB). On the other hand, the telecommunication sector increased led by Etisalat.
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Construction & Materials
Real Estate Mgmt & Dev't
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- Warba Bank, Kuwait's best investment bank and corporate consultancy institution has recently added Jarallah German Specialized center to its list of strategic partners, which is known for its high quality medical services.
- Mubadala Investment Co is being formed through a merger of Mubadala Development Co and International Petroleum Investment Co, which own corporate stakes in the energy industry and other sectors in the UAE, aiming to diversify the economy beyond oil.
- Al Musafir Company, a subsidiary of Al Tayyar Travel Group Holding, located in Saudi Arabia will sign a partnership with Al Rajhi Bank to provide hotel booking service through Al Musafir company's apps and website, aiming to enhance the growth of the tourism sector in the Kingdom and the Middle East.
- Qatar's real estate companies are expected to decrease the rent by a percentage up to 30% due to the low demand and increased supply of residential units in the market, aiming to attract more consumers.
- Wadi Degla, Egypt's property developer is planning to launch a number of tourism and residential projects within 2018 by launching promenade New Cairo project with total investments worth 1.5 BN EGP (93.8 MM USD). The project will be implemented on a space of 140,000 square meters.
- In 2016, 40 new regional and international companies from India, China, the United States and Germany invested a total of 281 MM USD in Bahrain, as a result of the efforts by the Bahrain Economic Development (EDB). They are expected to generate 1,674 jobs opportunities in the country over the coming 3 years.
- Egypt's Suez Canal economic zone (SCZone) aims to attract 2 BN USD investments from abroad.
- The Industrial and Commercial Bank of China (ICBC) will invest 20 BN USD in Egypt over the next coming years, as part of its ten-year investment plan in Africa.
- Investcorp, a leading provider and manager of alternative investment products in Bahrain announced an expansion of residential real estate portfolio with 400 MM USD investment in New York, California and Nevada.
- A Chinese company announced its withdrawal from assisting Egypt in building its new capital. Yet, Egypt's new capital project is still on track as the first phase will be built on 10,500 acres of land and will include a business and finance center.
Sports and Culture
- Prime Pharma started a campaign called Tour n' Cure to promote tourism and hepatitis C treatment in Egypt, with Lionel Messi an Argentinean football star being chosen as ambassador for the campaign worldwide.
- Despite the regional instability, Jordan is maintaining its efforts to promote women's right as a part of its commitment to its international conventions on human rights.
- A leading email and data security company called Mimecast, announced the launch of the Mimecast Email Security Risk Assessment ESRA, to measure the quality and effectiveness of email security systems which aims to increase the email security level.
- Saudi Women have conquered top financial jobs in the kingdom as Sarah Al-Suhaimi is currently the chair of Saudi Arabia's stock exchange, Rania Nashar is the CEO of Samba financial group and Latifa Al Sabhan is the chief financial officer of Arab National Bank ANB.