Home > Insights > Mohammed bin Rashid honors surgeon Magdy Yacoub for his tremendous charitable efforts.
Monday, 31 Aug 2015

Mohammed bin Rashid honors surgeon Magdy Yacoub for his tremendous charitable efforts.


Insights MENA

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Economic Outlook

Economic Outlook

    • Dubai's real estate sector slows down as the government tightened property rules which included raising property registration fees along with the minimum mortgage deposits.
 
    • Kuwait's inflation rate hits high this July as it reached 3.6%. It is worth mentioning that this rate is the highest since April 2012.
 
    • In a step to encourage fuel efficiency, UAE will lower domestic prices for octane 95 gasoline by 8.4% and diesel price by 9.3% starting September.
 
  • As reported by Saudi Arabia's Central bank, the sale of government bonds helped decrease the decline of foreign reserves. It is worth mentioning that the decline in Saudi's foreign reserves was attributed to the decreasing oil prices.
    • Dubai commercial bank revealed its plans to raise up to 750 MM USD in capital boosting perpetual bonds.
 
    • In the first nine month of the fiscal year 2014/2015, the volume of net foreign direct investment in Egypt reached 5.7 BN USD compared to 4.1 BN USD in the previous year.
 
  • In the first half of 2015, Qatar achieved the highest corporate earnings growth compared to all GCC countries with a rate of 13%.
  • According to the Egyptian ministry of industry and trade, Egypt will eliminate barriers to enhance commercial relations with Jordan. Moreover, Jordan's private sector is willing to increase  economic engagement with their Egyptian peers in a wide range of sectors.
Political Events

Political Events

  • The "You stink" campaign in Lebanon organized protests to call for the government step down weeks after politicians were unable to agree where to dump the capital's trash which was accumulated in the streets for weeks. This resulted in violence between the police and protesters leaving 35 injured individuals.
    • Egypt is in talks with France regarding buying two Mistral helicopter carriers.
  • According to the U.N. refugee agency, up to 200 people are missing and feared dead after two smugglers' boats carrying an estimated 500 migrants sank near the western Libyan coast.
Stock Market

Stock Market

    • Listed petrochemical stocks in the Gulf region and Egypt have severely declined in August, particularly after the sharp decline in oil prices as well as news of economic crises in several parts of the world.
    • .QSI witnessed a slight increase in banking sector led by Ahli Bank. On the other hand, the telecommunication sector declined  led by Ooredoo. The real estate sector also declined led by Barwa Real Estate and Mazaya Qatar Real Estate Development.
 
  • .ADI witnessed a significant increase in real estate sector led by Aldar, followed by banking sector led by National Bank of Abu Dhabi (NBAD).
  • .DFMGI witnessed a decline in real estate & construction sector led by Arabtec and Emar, followed by banking sector led by Emirates NBD.
Index Watchlist
Weekly % Change
YTD% Change
Egypt
.EGX30
9.1%
15.4%
Construction & Materials
-2.6%
-13.3%
Telecommunication
-5.2%
-48.0%
Banking
1.8%
47.3%
KSA
.TASI
-2.2%
-8.2%
Petrochemicals
-0.6%
-30.1%
Banks & Financial Services
-3.0%
1.2%
Telecommunication & Information
2.3%
-43.4%
Kuwait
.KWSE
-2.5%
-21.8%
Banking
-0.8%
-7.0%
Telecommunication
-2.8%
-33.9%
Financial Services
-5.0%
-21.4%
Real Estate
-2.6%
-14.3%
Industrial
-2.1%
-7.4%
Qatar
.QSI
-0.1%
9.2%
Banking & Financial Services
2.0%
25.7%
Industrial
-1.3%
1.2%
Real Estate
-0.5%
32.4%
Telecommunication
-1.1%
-34.1%
UAE, Abu Dhabi
.ADI
-1.3%
3.8%
Banking
0.1%
8.6%
Telecommunication
-2.2%
23.2%
Real Estate
3.5%
-21.3%
UAE, Dubai
.DFMGI
-0.5%
9.5%
Banking
-0.7%
32.3%
Real Estate & Construction
-0.9%
7.3%
Investments & Financial Services
1.1%
-3.8%
Telecommunication
-1.5%
-22.1%
Companies Transactions

Companies Transactions

  • Hyundai launched a new line of Russian-manufactured cars, suitable for the Middle-East hot climate, to be exported to Egypt and Lebanon.
  • To finance general business purposes and refinance existing debt, OSN -a Dubai-based TV-pay company- has signed a 400 MM USD five-year loan.
  • Abraaj Group, Fajr Capital and Gulf Capital -one of the Gulf's biggest private equity firms-are competing to gain the majority stake in the Saudi supermarket chain "Al Raya for Foodstuff Co." that will be sold by Dubai-based Levant Capital and The Rohatyn Group (TRG).
  • The CEO of the Omani Islamic lender bank Nizwah announced that the bank remains open for potential mergers or acquisitions.
  • Saudi Arabia's state oil giant "Aramco" extended bidding by around one month for the expansion of the offshore Hasbah sour gas field.

Dubai

Office No. N307, North Tower,
Emirates Financial Towers, DIFC, Dubai, UAE
P.O Box: 506726
Tel: +9714 351 8187
info@multiplesgroup.com

Cairo

Zepter Office Building,
S5-6, Area 5, District 1, New Cairo, Egypt.
P.O Box: 11477
info@multiplesgroup.com

Nairobi

Kenya Block C, Ground Floor, Fortis Office Park Muthangari
Dr Westlands, Nairobi, Kenya
Tel: +254 20 5148174
P.O. Box: 66488-00800

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