Oil & Currencies

The Egyptian pound will decline 25% by the end of 2016 - (Photo Credit: Arabianeye-Reuters)
26 September 12:34 AM Analysts sure of pound floating, disagree on timing
By: Mahmoud Salah Eldin Cairo - Mubasher: The Monetary Policy Committee (MPC) of the Centeral Bank of Egypt (CBE) will by meeting on 17 October days after the anticipated decision regarding the International Monetary Fund’s (IMF) loan to Egypt. …
Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
25 September 12:07 AM CBE to sell $120m on Tuesday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will hold a regular dollar sale for $120 million on Tuesday. The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data. On 28 July, Egypt's Central Bank also …
The Central Bank of Jordan - (Photo Credit: Arabianeye-Reuters)
20 September 11:36 PM Jordan’s foreign reserves up 0.96% in August
Mubasher: Jordan’s foreign currency reserves increased 0.96% by the end of August, according to data revealed by the Central Bank of Jordan on Monday. Foreign reserves grew to $12.66 billion from $12.539 billion in July.
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
20 September 05:40 PM CBE holds the pound steady against the dollar
Cairo - Mubasher: The Central Bank of Egypt (CBE) maintained the pound unchanged against the US dollar in its weekly auction. The CBE sold $119.1 million out of the offered $120 million, at an average price of EGP 8.78 per dollar, according to the …
GBP rose 0.11% to reach $1.3220 by 11:30am GMT (Photo Credit: Arabianeye-Reuters)
15 September 02:34 PM Bank of England leaves rates unchanged
Mubasher: The Bank of England (BoE) fixed interest rates at a record low of 0.25%, according to a statement. The Monetary Policy Committee agreed previously to maintain the stock of purchased assets financed by the issuance of central bank …
The ECB confirmed that the asset-purchased program would be maintained at EUR 80 billion  - Photo Credit: Reuters
8 September 02:51 PM ECB leaves interest rates on hold
Mubasher: The European Central Bank kept the three interest rates unchanged at their previous levels. The main refinancing rate (refi), deposit rate, and marginal lending rate steadied at zero, 0.4%, and 0.25%, respectively. The ECB confirmed that …
The ECB headquarters - Photo Credit: Reuters
8 September 08:36 AM ECB likely to keep interest rates unchanged – Analysts
By Mahmoud Gamal Mubasher: The European Central Bank (ECB) is forecast to leave interest rates on hold when the council meets Thursday at its headquarters in Frankfurt, Germany, analysts told Mubasher. ICM Capital's Director, Shoaib Abedi, said …
The Central Bank of Egypt (Photo Credit: Arabianeye-Reuters)
4 September 10:26 PM CBE: Egypt's foreign reserves reached $16.6bn in August
Cairo - Mubasher: Egypt’s net international reserves reached US $16.56 billion by the end of August, according to the Central Bank of Egypt’s (CBE) report issued on Sunday. The Egyptian foreign exchange reserves decreased 11% in July to $15.5 …
Centeral Bank of Egypt - (Photo credit: Arabianeye - Reuters)
3 September 07:05 PM CBE to issue EGP 11.25bn T-bonds Sunday
Cairo - Mubasher: The Central Bank of Egypt (CBE) will issue on Sunday, in coordination with the Ministry of Finance (MoF), treasury bonds worth EGP 11.25 billion to support the country's state budget deficit. The first tranche of the treasury …
The Central Bank of Egypt (Photo Credit: Arabianeye-Reuters)
3 September 05:56 PM CBE to offer $120m to banks Tuesday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced it will hold its regular dollar sale for $120 million on Tuesday. The CBE held the pound steady at EGP 8.78 per US dollar in last week’s sale, as per official data. On 28 July, Egypt's …
Yellen is expected to deliver a stronger signal about the likelihood of rate hike (Photo Credit: Arabianeye-Reuters)
25 August 07:52 AM Global markets anticipate Yellen’s speech
By: Mahmoud Gamal  Mubasher: Global markets are anticipating the speech of the Federal Reserve chair Janet Yellen in the annual Jackson Hole central banking conference on Friday. The speech will be closely watched for hints about US monetary …
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 …