Studies and reports

Egypt’s non-oil private sector economy saw only a fractional worsening of operating conditions in December, as new orders dropped at the softest pace in four months. Purchasing activity grew at the fastest rate since May, while employment continued to fall. Input cost inflation eased even further, setting a new record low across the survey history.

MAGNiTT, MENA’s leading data platform tracking the region’s startup ecosystem, today released their annual 2018 MENA Venture Investment Report, which provides an in depth analysis of startup funding across the Middle East and North Africa. The report highlights strong growth with a record number of transactions and an increase in total funding across MENA-based startups, up 31% from 2017.

Currencies

Dovish Powell bullish for Euro

The pair saw some downward pressure on better than expected US NFP data and worse than expected Euro area macro data outcome. Market continues to receive positive influence from Chinese central bank’s monetary policy easing which is further supported by positive sentiment surrounding investors’ hopes of favorable outcome in Sino U.S. trade talks which is seeing first face to face interaction post President Trump & Xi Jing Ping’s agreement last month during G-20 summit for a 90 day pause to ongoing tariff war between them. Last week, Fed Chair Jerome Powell state that rate hike plans for 2019 are not fixed and could change based on macro data outcome & economic scenario signaling that Fed is ready to pause rate hike if needed boosted equity market performance and also added substance to increased risk appetite which market is experiencing.

Dubai Competitiveness Office is preparing a comprehensive report on the competitiveness of 26 approved projects submitted by 24 government entities in Dubai within the first edition of “Dubai 10X” initiative launched by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, Chairman of the Board of Trustees at Dubai Future Foundation.

Axalta (NYSE: AXTA) today released its 66th annual Global Automotive Color Popularity Report which shows white as the global leader in consumer vehicle color choice in 2018. At an astounding 38 percent, white held its top spot with a significant gap ahead of second-place black (18%) and a third-place tie between silver and gray (12%).