- Standard & Poor's (S&P) predicts that it would take longer for prices to recover as it amended its forecasts for 2015 for both Brent and U.S. crude down by 5 USD from its previous forecast.
- According to the head of Customs Authority, Egypt customs revenues have reached 21.73 BN EGP during the 2014/2015 fiscal year with 19.4% increase compared to the previous year figures.
- In 2016, Trade exchange and mutual investments between Saudi Arabia and Germany are expected to witness a remarkable jump as new projects will be established in energy and solar power sectors in addition to digital technology.
- According to Fitch -the international rating agency- due to low oil prices, Gulf countries' currency pegs to the dollar are under pressure however they will stick to currency dollar pegs.
- In Dubai due to the rise in number of expatriates, the shortage of affordable houses and the reduction in overseas allowances since the financial crisis have pushed foreign staff of middle incomes out to the suburbs far from the center of Dubai.
- Tahya Misr fund will support and finance Small and Medium-sized enterprises (SMEs) through establishing a holding company with authorized capital of 5 BN EGP and paid-up capital estimated at 2 BN EGP to fund constructing comprehensive industrial complexes for SMEs.
- Saudi Arabia and Bahrain have signed contracts of 300 MM USD to lay a new 350,000-barrel per day oil pipeline between the two countries that will be finished by the end of 2017.
- Qatar's projects market is expected to grow in 2016 as new contracts that are worth 30 BN USD will be signed in the light of FIFA World Cup in 2022 preparations.
- Jordan and China have signed agreements and MOU worth 7 BN USD that include a power plant of 1000 MW capacity besides building a 1000-donum and an industrial city inside the southern port city of Aqaba that will focus on the electrical and electronic industries.
- Haj stampede death toll has reached 769. It is worth mentioning that this is the worst tragedy during the annual Muslim pilgrimage in a quarter-century.
- A boat that was carrying 37 Syrians has sank off the Turkish coast while headed for the Greek island of Kos where seventeen Syrians migrants have drowned.
- After attempting to reach Italy by fishing boat, a total of 22 illegal immigrants from Egypt were deported from the Italian town of Catania by local security forces.
- Egypt's stock market has increased last week as it gained around 6.4 BN EGP.
- .TASI banking sector has declined led by Alinma Bank.
- .KWSE banking sector has slightly increased led by Commercial Bank of Kuwait and Ithmaar Bank, followed by real estate sector led by Al Dar National Real Estate.
- .ADI telecommunication sector declined led by Etisalat, while real estate sector increased led by Aldar Properties and Eshraq.
- .DFMGI real estate sector increase was led by Arabtec and Emaar, followed by telecommunication sector led by du while banking sector was led by Dubai Islamic Bank. On the other hand investment and financial services decline was led by Dubai Investment and Gulf General Investments Co. (GGICO).
Weekly % Change
Construction & Materials
Banks & Financial Services
Telecommunication & Information
Banking & Financial Services
UAE, Abu Dhabi
Real Estate & Construction
Investments & Financial Services
- Dubizzle has rebranded its platform to OLX to be a part of the world's leading network of online classified sites and changed the web domain to https://olxliban.com/ar/ with a new mobile application called OLX Arabia.
- Saudi Arabia's Zamil Industrial will establish the largest logistics zone in Nag Hammadi in Qena Governorate, on space of 50 acres to have a storage capacity of 18,000 tons of vegetables and grains.
- Qatar Airways has been awarded the coveted 'Best For Business' award in the recent Condé Nast Traveller 'Readers' Travel Awards' held at the Ham Yard Hotel in Central London.
- In order to facilitate its home finance for Jiran project in South Maabela, Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, and Amlak Company have signed a memorandum of understanding (MoU).
- Qatar's Ooredoo has appointed Haroon Shahul Hameed as acting chief commercial officer after the resignation of Cynthia Gordon.