Oil & Currencies

The Egyptian Central Bank - (Photo Credit: Arabianeye-Reuters)
22 August 02:24 PM El-Sisi approves new central bank law
Cairo - Mubasher: Egyptian president Abdel Fatah El-Sisi on Sunday issued a new law approving a draft developed by the House of Representatives amending some provisions of the law for the Central Bank of Egypt’s (CBE), the banking system and …
(Photo credit: Arabianeye-Reuters)
19 August 08:53 PM US oil rigs up for 8th week - Baker Hughes
Mubasher: Baker Hughes Oilfield Services on Friday announced that the number of oil rigs in the US increased for the eighth week in a row. Oil rigs grew by 10 to reach a total of 406 in the week ended 19 August, up from 396 rigs last week. Natural …
The bank may raise about $500 million this year- (Photo Credit: Arabianeye-Reuters)
13 August 12:06 PM ABK to issue dollar bonds for 1st time – Agency
Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) is considering the issuance of dollar-dominated bonds for the first time to get long-term financials to boost growth. The bank may raise about $500 million this year, Bloomberg reported on Thursday. …
New York Stock Exchange (NYSE) (Photo Credit: Arabianeye-Reuters)
12 August 05:33 PM US stocks fall at open
Mubasher: US stocks saw a negative performance in Friday’s early trades, weighed down by data that showed U.S. retail sales were unexpectedly flat in July as Americans cut back on purchases. The Dow Jones industrial average fell 0.4% by 2:10pm …
Britain’s FTSE 100 index advanced 0.16% by 8:05am GMT (Photo Credit: Arabianeye-Reuters)
12 August 11:07 AM European stocks open higher
Mubasher: The European stocks rose in Friday’s early trades in line with the rise of oil prices. The FTSEurofirst 300 index increased 0.25% by 8:05am GMT. Britain’s FTSE 100 index advanced 0.16%, while the German DAX and the French CAC indexes …
The Central Bank of Egypt - Photo Credit: Reuters
28 July 03:21 PM CBE to leave interest rates steady on Thursday – analysts
By Mahmoud Salah and Mostafa Adel Cairo – Mubasher: Egypt's Monetary Policy Committee (MPC) is forecast to hold interest rates steady in Thursday's meeting after putting up key interest rates by 100 basis points on 16 June, analysts told Mubasher. …
US dollar index rose by 0.5% - (Photo Credit: Reuters)
25 July 07:49 AM Gold prices down ahead of Fed's meeting
Mubasher: Gold prices saw a slide on Monday ahead of central bank meetings in the United States and Japan. By 4:41 GMT, spot gold fell by 0.5% to $1324.90 per ounce. U.S gold futures for August delivery decreased $5 or 0.4% to $1352.10 per ounce. …
The lira dropped 0.7%, to TRY 3.054per dollar - (Photo Credit: Arabianeye-Reuters)
21 July 10:22 AM Lira declines on state of emergency
Mubasher: The Turkish lira continued to decline on Thursday, nearing its lowest exchange rate against the dollar in 10 months, in the wake of the state of emergency being declared for three months. The lira dropped 0.7%, to TRY 3.054per dollar by …
The lira rose 2.7% against the US dollar - (Photo Credit: Arabianeye-Reuters)
18 July 11:34 AM Turkish lira rises against the dollar Monday
The Turkish lira rose on Monday, after the Turkish central bank issued new measures to provide liquidity and ensure financial stability, to avoid negative implications of failed coup attempt. By 8:20 GMT the lira rose 2.7% against the US dollar, …
U.S dollar jumped 4.78% to equal 3.02 lira on Saturday-  (Photo Credit: Arabianeye - Reuters)
16 July 03:54 AM Turkish lira falls against dollar on coup attempt
Mubasher: The Turkish lira plunged against the dollar on Saturday, on the back of Turkey's upheavals. The lira retreated 4.78% against the dollar to 3.02 lira compared to 2.87 lira recorded on Friday, marking the Turkish currency’s biggest fall …
The Central Bank of Egypt (Photo Credit: Reuters)
9 June 04:29 AM Egypt gov't nods for harsher penalties against black market traders
Cairo – Mubasher: The Egyptian government ratified on Wednesday draft amendments to the law no.88/2003 on the regulation of foreign currency trading. Severer penalties will be taken against black market traders, including a jail period extending …
Photo Credit: Arabianeye-Reuters
28 March 04:01 AM Nikkei opens in green
Mubasher: Tokyo indexes witnessed a positive performance in Monday’s early trades. Nikkei 225 rose 0.71% or 121.27 points to reach 17,123.97 points. The broader Topix index added 0.65% to reach 1,067.17 points.
Photo Credit: Arabianeye - Reuters
17 March 02:59 PM Eurozone’s inflation rises y/y
Mubasher: Eurozone’s inflation rate rose to -0.2% in February, compared with -0.3% in the same month of 2015, according to Eurostat, the European statistics office. Eurozone’s trade balance surplus reached 6.2 billion euros, according to the …
Yuan - Photo Credit: Arabianeye - Reuters
17 March 11:44 AM China’s FDI up 1.8% in February
Mubasher: China’s foreign direct investment (FDI) increased by 1.8% year-on-year in February to $8.44 billion, according to the state’s trade ministry. In early February, the ministry said the FDI grew by 2.7% to $22.52 billion in the first two …
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15 March 11:06 AM European shares down in early trade
Mubasher: European shares opened Tuesday lower, snapping Monday’s upward trend. The STOXX Europe 600 index fell 0.79% to 341.94 points, and UK’s FTSE 100 declined 0.59%. Germany’s DAX lost 0.34%, and France’s CAC was 0.57% down. Investors are …
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6 March 12:13 AM China expects economic growth of 6.5% in 5 years
Mubasher: China targets annual economic growth exceeding 6.5% from 2016 to 2020,in a brief overview of China's 13th Five-Year Plan for national economic and social development, according to a government report published "Xinhua" agency. According …
Photo Credit Arabianeye - Reuters
24 February 08:52 PM HSBC: Sterling to lose 20% if Brexit happens
Mubasher: The pound sterling is likely to lose 20% of its value if Britain leaves the European Union, HSBC bank said on Wednesday. The bank added in a research note that the pound could fall by 15-20% against U.S. dollar in the event of Britain’s …
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15 February 01:55 PM Euro widens losses as EU trade balance misses estimates
Mubasher: The euro exchange rate has extended the intra-day poor performance, weakened by the European Monetary Union trade balance that missed forecasts. Trading balance in December registered EUR21 billion, below expectations (EUR22.4 billion) …
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2 February 12:47 AM U.S. stocks see volatile trend at close
Mubasher: U.S. stocks witnessed a mixed performance on Monday. Dow Jones declined 0.11% to reach 16,449 points. The NASDAQ composite index increased 0.13% to reach 4,620 points. Standard & Poor's declined 0.06% to stand at 1,939 points. The Global …
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2 February 12:02 AM Iran retrieves $100bn of frozen funds – official
Mubasher: Iran said Monday it has recovered $100 billion worth of its frozen overseas assets after the implementation of a landmark nuclear deal with world powers, the state's news agency reported. Government spokesman Mohammad Nobakht said much …
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1 February 11:35 AM European shares open mixed amid disappointing data
Mubasher: European shares opened Monday on a mixed note amid disappointing economic data for Japan and China. The Markit/Nikkei Final Japan Manufacturing Purchasing Managers Index (PMI) declined to 52.3 in January on a seasonally adjusted basis, …
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1 February 11:02 AM Japan banks cut mortgage rates to record levels
Mubasher: Most Japanese banks slashed their fixed 10-year mortgage rates for prime customers by 0.05% as of February, according the state's public broadcasting organisation. The rate is now 1.05% at the Bank of Tokyo-Mitsubishi UFJ, Sumitomo …
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1 February 10:33 AM Japan stocks continue rise, shrug off negative manufacturing data
Mubasher: Japan stocks continued their upward trend at the end of Monday's trading despite lower-than-expected manufacturing data for China and Japan.   The Markit/Nikkei Final Japan Manufacturing Purchasing Managers Index (PMI) declined to 52.3 …
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1 February 09:31 AM China manufacturing turns down; budget deficit widens
Mubasher: China’s Manufacturing Purchasing Managers Index (PMI) shrank in January, more than expectations, along with budget deficit increase. The index dropped to 49.4, against previous estimates (49.6) and last month (49.7), Markit Economics …
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29 January 05:01 PM U.S. economic growth slows in fourth quarter
Mubasher: U.S. gross domestic product increased at a 0.7% year-on-year in the fourth quarter of 2015, missing estimates of 0.8% and actual 2% recorded in the previous quarter, showed data issued by the Commerce Department on Friday.