- To help cover its budget deficit, Saudi Arabia sold a new tranche of 5,7 and 10 years bonds that is worth 20 BN SAR (5.33 BN USD) to banks.
- The Egyptian central bank governor announced that Egypt's unemployment rate fell to 12.7% by the end of June 2015 compared to 13.3% during the same period of last year.
- The UAE central bank announced that the bank lending growth rate in Emirates grew to 8.6% Y-o-Y in August compared to 8.2% in July.
- Kuwait's financial minister announced that the country is willing to issue local currency bonds by the end of this year to help the Gulf Arab States in bridging its budget deficit.
- The Dubai statistics Center announced that Dubai's August inflation rate reached 4.4% Y-o-Y; this is mainly due to the rise in housing and utility costs -which accounts for 44% of CPI- by 6.6% compared to the previous year.
- Oman's nominal GDP dropped by 14% in Q1 2015 compared to a rise of 2.7% in the same period of last year, this is mainly caused by 36.8% drop in the petroleum sector.
- For the first time, the Saudi Council of Ministers granted a license for a Qatari lender (Qatar National Bank) to establish a branch inside the kingdom.
- Dubai declares 3 days of mourning after the death of Mohammed Bin Rashed Al-Maktoum's the eldest son of the Prime Minister and Vice President of the United Arab Emirates.
- Saudi's King Salman ordered a 1 MM SAR payout to the families of the crane crash victims -weather killed or injured- last week. It is also worth mentioning that the king also has ordered the suspension of Binladin group- which is carrying the Grand Mosque expansion project- from any further new bids or projects.
- Egypt's police accidentally shot 12 Mexicans and Egyptians and injured 10 others whilst engaging militants in the country's western desert, the ministry of interior said on Monday.
- .TASI declined this week except for a slight increase in telecommunication sector led by Mobily and Saudi Telecom.
- The price of Kuwait's crude oil declined which had negative effect on .KWSE sectors.
- All sectors of .QSI have declined and banking sector declined led by Qatar International Islamic Bank.
- .ADI banking sector declined led by National Bank of Abu Dhabi, Abu Dhabi Islamic Bank (ADIB) and Abu Dhabi Commercial Bank (ADBC), while telecommunication sector led by Etisalat. On the other hand real estate sector rose slightly led by Aldar.
- .DFMGI banking sector increased slightly led by Dubai Islamic Bank (DIB), while the other sector declined such as telecommunication sector led by du, also real estate sector declined led by Emaar.
Weekly % Change
Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- The Saudi Egyptian Construction Company's (SECON) plans to invest 1 BN EGP in its 3 projects located in New Cairo, New Asyut and New Damietta cities throughout 2016.
- The deputy chairman and chief executive of HSBC announced that the bank is willing to move its head office from Jersey to Dubai's financial free zone in 2016.
- Abu-Dhabi state-owned investment fund "Mubadala" announced that it witnessed a 53.4% fall in net profit in H1 2015 as financial investments' revenues failed to offset lower income from disposals and higher costs.
- Saudi's real estate developer "Jabal Omar" announced that it has signed a 12-year, 2.13 BN USD Islamic loan -with Saudi British bank and Samba financial group- to finance a project in Mecca and repay a smaller bridge loan.
- The French hotel operator "Accor Hotels" has signed a management agreement for two hotels in Iran to be the first international company to open in the country.
- Saudi's oil company "Aramco" has named Amin Nasser as chief executive after it was previously held by the oil minister Ali al-Naimi.