Morocco news

Previous QIIB shareholders' meeting (Photo Credit: Mubasher)
27 February 11:07 AM QIIB opens new bank in Morocco
Doha – Mubasher: Qatar International Islamic Bank (QIIB) announced the launch of a new bank with a capital of MAD 600 million ($57.8 million) in Morocco, according to a bourse filing.  QIIB will be opened in partnership with local lender Credit …
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 …
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 …
(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 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 …
(Photo credit: Arabianeye-Reuters)
17 February 09:14 PM US oil rigs rise for 5th straight week
Mubasher: Oil rigs in the US rose this week by 6 to reach 597 active rigs this week, according to data released by Baker Hughes Oilfield Services on Friday. This registered the fifth straight weekly increase and the highest number of rigs since 10 …
(Photo credit: Arabianeye-Reuters)
17 February 11:41 AM Gold falls Friday, eyes weekly gains
Mubasher: Gold prices were down during Friday's trades. Despite that, the precious metal is looking to record weekly gains by around 0.3%. Spot gold prices declined 0.21% to $1,238.85 per ounce by 0831 GMT, while the metal's future contracts lost …
(Photo credit: Arabianeye-Reuters)
17 February 10:23 AM Oil gains early Friday on lower gas supply data
Mubasher: Global oil prices saw gains in Friday's trades after data released showed a decline in natural gas stockpiles in the US. By 0717 GMT, US Nymex for March delivery added 0.13% to reach $53.5 per barrel, while Brent crude grew 0.19% to …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
16 February 11:07 AM CBE expected to maintain interest rates
By: Noha Al-Nahhas Cairo - Mubasher: Analysts are expecting the monetary policy committee of the Central Bank of Egypt (CBE) to maintain interest rates in its meeting on Thursday. Last November, the CBE raised interest rates by 300 basis points …
Photo Credit: Arabianeye-Reuters
16 February 12:05 AM Egypt lowers USD customs exchange rate to EGP16
Cairo - Mubasher: The Egyptian ministry of finance (MoF) announced on Wednesday that it will adjust the customs exchange rate for the US Dollar to EGP 16 down from EGP 18.5. The decision is effective beginning Thursday until the end of February, …