GulfBase GCC Cap Indices
Large Cap4,049 -0.63
Med Cap4,095 -0.71
Small Cap5,228 -0.77
Micro Cap8,944 -1.15

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Ticker Price Volume
QNBK 152 277,896
SABIC 97.29 2,079,752
MMG 12.55
RJHI 64.82 2,142,800
EEC 21.95 778,245
RIBL 10.81 453,023
DU 6 157,134

Saudi Arabia Economics

Source: Banque Saudi Fransi

Counting the costs

Saudi imports, religious tourism weaken amid global recession, swine flu

• Saudi imports set to fall 12% to $89 bn in ,09, biggest annual decline in 15 years, as consumer demand, risk aversion keep importers on their guard

• Tourist numbers slowed sharply in H1 as fears about H1N1 flu and global recession hit religious tourism; Tourist visits likely to fall 15% in ,09, expenditures could drop by third

• Non-oil private sector likely to witness U-shaped recovery in 2010, credit growth to pick up pace led by financing to public-private partnerships

• Inflation rates bottom out with price pressures likely to pick up pace in the final months of ,09; We expect inflation of 5.1% this year and 4.6% in 2010

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