- Qatar Financial Centre's chief executive announced that the center will pass new laws providing a higher access to foreign investors into the local market.
- Despite the expectations of the Egyptian currency depreciation, surprisingly, the Egyptian central bank strengthened its currency by 0.20 pounds against the dollar reaching 7.8301 to the dollar.
- According to a report by the real estate consultancy JLL, Dubai is the third most globalized among emerging cities after Shanghai and Beijing, thanks to the combination of many characteristics of both established and emerging cities and its impressive and extraordinary rise.
- After the recent drop in corporate sukuk issuance, the Kuwait's financial regulator has released new rules that aim at promoting the sales of both government and corporate sukuks.
- As Iraq is seeking a funding program from the IMF to reduce its budget deficit, the government agreed on its condition to allow the IMF to monitor its economic policies.
- Seeking new ways to cover its budget deficit caused by low oil prices, Saudi aims to start selling bonds in the international markets by the beginning of 2016.
- As a part of its plan to make broadband more affordable, Oman intends to spend 450 MM OMR over the next ten years to improve communication services.
- Jordan's department of statistics reported 0.7% fall in inflation rates over the first 10 months of 2015 compared to the same period of last year, where the main items influencing this fall were transportation (14.4%) and fuel and lightning (12%).
- Supporting the vital tourism rates in Egypt -after the adverse effect of the Russian plane crash on it- , Saudi Airlines announced that it will increase the frequency of its flights to 14 per week from the kingdom to Sharm Al-sheikh starting February 2016.
- The UAE's ministry of labor announced that companies which fail to report occupational injuries in the workplace will be charged a 10,000 AED fine.
- Egypt's unemployment rate reached 12.8% in Q3 2015 compared to 12.7% in Q2 2015; however, it was lower than that of Q3 2014 which amounted to 13.1%.
- In France, three coordinated teams of gunmen and suicide bombers attacked various places in Paris including restaurants, a concert hall and the national soccer stadium on a busy Friday evening killing more than 130 people.
- Two weeks after a Russian jet crashed in Sinai, Russia banned the incoming flights by Egypt's -state owned airline -Egypt air. The Russian ambassador in Cairo commented that this was only a temporary security measure.
- Two suicide bombs killed 43 people in Southern Beirut in a busy residential and commercial area that is a stronghold for Lebanese Shi'ite movement Hezbollah.
- .EGX30 witnessed a biggest weekly decline in 13 months. Market capitalization lost 2.71 BN EGP to reach 425.24 BN EGP compared with 452.31 BN EGP.
- .TASI witnessed an increase in banking sector led by Al Rajhi and Riyad Bank followed by petrochemical sector led by SAFCO and SABIC.
- .ADI real estate sector declined led by Eshraq Properties followed by banking sector led by Abu Dhabi Commercial Bank and First Gulf Bank, while telecommunication sector increased led by Etisalat.
- .DFMGI real estate declined led by Arabtec and Emaar, followed by banking sector which is led by Dubai Islamic Bank, and telecommunication sector declined led by du.
Weekly % Change
Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- UAE's Dana Gas plans to cut its expenses by 55% in 2016 after the 9 MM USD net loss it made in Q3 this year compared to a net profit of 38 MM USD in the same period of last year.
- The Ministry of Transport and Communications of Oman gave the Oman airport extension contract to Hill international. It is worth mentioning that the contract involves providing consulting engineering services for Muscat International Airport and Salalah Airport.
- In the third quarter of 2015, Dubai's Emaar Malls reported a rise in its profit that reached 376.4 MM AED, compared to 321.2 MM AED in the same period of last year, this represents a 17.2% rise in net profits.
- Bahrain's AlBaraka Banking group reported a rise in its net profit that amounted to 4% in Q3 of 2015.
- Abu Dhabi's state fund Mubadala and the state-owned Etihad airways have extended their partnership with a 1 BN USD contract that might last for over a decade.
- In Q3 2015, Dubai's Damac properties achieved a 45% rise in net profits compared to the same period of last year.