Iraq news

(Photo Credit: Arabianeye-Reuters)
27 February 08:09 PM S&P expects GCC commercial borrowing to fall to $75bn
  Mubasher: Standard & Poor’s said in a new report that it expects long-term gross sovereign commercial borrowing for the six member states in the GCC to decline to $75 billion in 2017, from $105 billion in 2016. Sovereign commercial debt with an …
Traders at DFM (Photo Credit: Arabianeye-Reuters)
27 February 06:09 AM Gulf exchanges need new liquidity – Analysts
By: Mahmoud Gamal Mubasher: Most Gulf markets need the entry of new liquidity to be able to break important resistance levels on Monday, amid the control of speculations and the decline of oil prices, capital market analyst Ahmed Akl told …
Gold prices are expected to decline to 1,220-1,200 points (Photo Credit: Arabianeye-Reuters)
26 February 06:17 AM US dollar likely to strengthen; gold prices to decline
By: Mahmoud Gamal Mubasher: The US dollar is expected to rise this week, amid anticipations of strong economic data that will increase the possibility of a rate hike by the US Federal Reserve next month; thus, pushing gold prices down. The US …
Traders at the Abu Dhabi Securities Exchange (ADX) (Photo Credit: Arabianeye-Reuters)
26 February 05:52 AM Investors likely to buy GCC stocks ahead of dividends
By: Mahmoud Gamal Mubasher: Most Gulf stock markets are expected to rise as portfolio investors will increase their positions, in line with the volatility of global stock and oil markets, analysts told Mubasher. Portfolio investors are likely to …
Omani crude oil reached $53.43 per barrel - (Photo Credit: Arabianeye-Reuters)
25 February 04:07 PM Oman oil down 12 cents
Mubasher: The price of Oman oil for April delivery decreased by 12 cents per barrel, according to the Dubai Mercantile Exchange (DME). Omani crude registered $53.43 per barrel (pb) on Friday, compared to $54.44 pb on Thursday. It’s worth noting …
Kuwait Crude Oil registered $52.71 per barrel on Friday - (Photo Credit: Arabaineye-Reuters)
25 February 12:28 PM Kuwait oil down 23 cents
Kuwait - Mubasher: The price of Kuwaiti oil barrel dropped 23 cents, Kuwait Petroleum Corporation (KPC) said Saturday. Kuwait crude reached $52.71 per barrel (pb) on Friday compared to $52.94 last Thursday, Kuwait News Agency (KUNA) reported. In …
(Photo credit: Arabianeye-Reuters)
24 February 02:39 PM Oman oil down 12 cents in Friday's trades
Mubasher: The price per barrel of Omani oil declined on Friday, according to data released by the Dubai Mercantile Exchange (DME). Omani oil for April delivery declined to $55.54 pb, compared to its closing price of $55.66 pb on Thursday. …
(Photo credit: Arabianeye-Reuters)
24 February 10:53 AM Oil prices down Friday after US data
Mubasher: The prices of oil declined on Friday after economic data showed a rise in US oil and natural gas stockpiles. Brent crude (for April delivery) decreased 0.18% to $56.4 per barrel. Late Thursday, the Energy Information Administration (EIA) …
(Photo credit: Arabianeye - Reuters)
23 February 07:15 AM Gold rises after Fed's minutes
By: Mahmoud Gamal Mubasher: Gold prices increased on Thursday, after the US Federal Reserve showed lack of clarity on the new Trump administration's economic programme. By 04:05 GMT, Spot gold inched up 0.25% to $1,237.5 per ounce. US gold futures …
(Photo credit: Arabianeye - Reuters)
23 February 06:59 AM Iraq to supply Egypt with crude oil in March
Cairo – Mubasher: Iraq's State Oil Marketing Company (SOMO) had finalised signing an agreement to provide Egypt with crude oil and sent it to the Egyptian Ministry of Petroleum and Mineral Resources for approval, Iraq's ambassador in Cairo said. …
(Photo credit: Arabianeye - Reuters)
23 February 06:20 AM GCC markets' investors repurchase blue chips – Analysts
By: Mahmoud Gamal Mubasher: GCC short- and medium-term investors returned to purchasing leading stocks after the rise of Saudi and Emirati shares. Analysts expected that most of the GCC markets would extend their fluctuating performance that tends …
Locally manufactured goods can substitute imports to local and foreign markets - (Photo Credit: Arabianeye-Reuters)
22 February 02:50 PM Flotation marks new beginning for Egyptian economy - PwC
Cairo - Mubasher: The Central Bank of Egypt’s (CBE) decision to float the Egyptian pound was a step in the right direction towards a free and growing economy, according to a report by PricewaterhouseCoopers (PwC) Middle East, published Wednesday. …
(Photo credit: Arabianeye - Reuters)
22 February 06:37 AM Oil rises on OPEC commitment to output cut deal
By: Mahmoud Gamal Mubasher: Oil prices increased on Wednesday, after OPEC showed positive expectations concerning the commitment to the production cut agreement. By 03:30 GMT, Brent crude oil futures added 0.27% or 27 cents to $56.93 per barrel; …
(Photo credit: Arabianeye - Reuters)
22 February 06:25 AM Gold falls hours ahead of US Fed minutes
By: Mahmoud Gamal Mubasher: Gold prices decreased on Wednesday, hours before the announcement of the US Federal Reserve meeting's minutes. By 3:15 GMT, Spot gold inched down 0.10% to $1,236.55 per ounce. US gold futures was 0.15% lower, …
(Photo credit: Arabianeye - Reuters)
22 February 05:47 AM GCC markets see important resistance levels – Analysts
By: Mahmoud Gamal Mubasher: The GCC markets will experience important resistance levels on Wednesday, amid the rising trend of oil and the return of expectations around the US interest hike, analysts said. The Saudi Stock Exchange (Tadawul) is …
(Photo credit: Arabianeye - Reuters)
21 February 06:34 AM Profit gains to control GCC trades on Tuesday – Analysts
By: Mahmoud Gamal Mubasher: Analysts said that GCC markets are still trading at levels pushing them towards profit gains on Tuesday. The markets are trading at levels keeping them down, amid low liquidity, technical analyst Mahmoud Abu Zayed told …
KSA and UAE have been major beneficiaries from the OPEC output deal - (Photo Credit: Arabianeye-Reuters)
20 February 07:31 PM GCC non-oil sector showing recovery signs - Report
Mubasher: Non-oil sectors in Saudi Arabia and the UAE, the two largest economies in the Gulf region, are starting to recover from their slumps in early 2016, Capital Economics said in a recent report. Both countries have been major beneficiaries …
(Photo credit: Arabianeye - Reuters)
20 February 06:09 AM KSA, Qatar stocks attract institutional, foreign liquidity – Analysts
By: Mahmoud Gamal Mubasher: Institutional and foreign liquidity were directed to medium and mega stocks listed on the Saudi and Qatar stock exchanges, which pushed them to the peak on Sunday. Analysts expected that most of the GCC markets would …
Photo Credit: Arabianeye-Reuters
19 February 07:12 PM Zain board proposes dividend payout for FY16
Mubasher: The board members of Zain Group recommended a cash dividend of 35 fils per share for the fiscal year 2016. This dividend proposal is subject to the annual general assembly and regulatory approvals, according to a recent statement. Zain …
Zain Group recorded consolidated revenues of KWD 261 million in Q4 (Photo Credit: Arabianeye-Reuters)
19 February 07:04 PM Zain FY16 profits rise to KWD 157m
Mubasher: Zain Group reported a growth of 2% in profits during the fiscal year 2016 as consolidated net income reached KWD 157 million ($519 million), according to a recent statement. Revenues amounted to KWD 1.1 billion ($3.6 billion) which was a …
(Photo credit: Arabianeye - Reuters)
19 February 06:22 AM Gold falls, US dollar recovers on economic figures
By: Mahmoud Gamal Mubasher: The announcement of growth in US consumer prices led to profit gains by gold traders and gave the US a space to recover. The US trade department said that the consumer prices index (CPI) for all items rose 0.6% in …
(Photo credit: Arabianeye - Reuters)
19 February 06:00 AM Traders advised to purchase GCC stocks – Analysts
By: Mahmoud Gamal Mubasher: Analysts advised traders to form purchasing positions in GCC stocks this week, with the end of the companies' result announcements and the annual distributions. The stability of oil prices since the beginning of the …
Russian economy is recovering after a two-year-long recession - (Photo Credit: Arabianeye-Reuters)
18 February 08:12 PM Moody's changes outlook on Russian bonds to stable
Mubasher: Moody's Investors Service has changed the outlook on Russia's Ba1 government bond rating to stable from negative. Moody's also affirmed Russia's government bond rating and issuer rating at Ba1 and the short term rating at Not Prime (NP), …
Omani Crude Oil reached $55.16 per barrel on Friday - (Photo Credit: Arabianeye-Reuters)
18 February 01:27 PM Oman oil up 2 cents
Mubasher: The price of Oman oil for April delivery increased by 2 cents per barrel, according to the Dubai Mercantile Exchange (DME). Omani crude oil reached $55.16 per barrel (pb) on Friday, compared to $55.14 pb on Thursday. It is worth noting …
Kuwaiti Crude Oil registered $52.20 per barrel on Friday - (Photo Credit: Arabianeye-Reuters)
18 February 01:20 PM Kuwait oil rises to $52.2pb
Kuwait - Mubasher: The price of Kuwait oil went up by three cents on Friday, the Kuwait Petroleum Corporation (KPC) said on Saturday. Kuwaiti crude oil registered $52.20 per barrel (pb) on Friday compared to $52.17 pb on Thursday, the Kuwait News …