Levant news

Photo Credit: Arabianeye-Reuters
22 April 08:02 PM Saudi Arabia to launch biggest goldmine Monday
Riyadh - Mubasher: Saudi Prince Khalid al-Faisal Al Saud, the Governor of Makkah, will officially inaugurate on Monday Al Dawaihi goldmine and factory, the biggest goldmine in Saudi Arabia. The goldmine is owned by the Saudi Arabian Mining Company …
Photo Credit: Arabianeye-Reuters
22 April 10:07 AM S&P affirms Jordan’s BB-/B; outlook remains negative
Mubasher: Standard and Poor's Global Ratings has affirmed Jordan’s 'BB-/B' rating, with a negative outlook, according to a recent report. The Jordanian government will continue to contain fiscal, external balances in the next three years, assisted …
(Photo Credit: Arabianeye-Reuters)
21 April 07:52 PM European stocks mixed at Friday’s close
Mubasher: European stocks saw a volatile performance on Friday, amid anticipations of economic data. The German DAX index rose 0.18% or 21.25 points to 12,048.57 points. The Stoxx Europe 600 index also added 0.02% or 0.06 to reach 378.12 points by …
(Photo Credit: Arabianeye-Reuters)
21 April 06:47 PM Oil prices down on NYMEX Friday
Mubasher: Oil prices saw a “steep” decline in Friday’s trading session, with NYMEX crude oil futures falling below $50 per barrel (pb).  Brent crude futures fell 2% to reach $51.95 pb by 4:35am UAE time.  NYMEX crude oil futures retreated 2.1% to …
(Photo Credit: Arabianeye-Reuters)
21 April 02:05 PM General Electric swings to profits in Q1
Mubasher: General Electric turned profitable in the first quarter ended 31 March 2017, according to a statement. The company generated net profits of $619 million in the three-month period of 2017, against losses of $61 million in the same period …
(Photo Archive)
21 April 11:17 AM Sony preliminary profits beat expectations
Mubasher: Sony reported higher-than-expected preliminary profits in the fiscal year ended March 2017, according to a statement. The Tokyo-based company posted preliminary operating profits of 285 billion yen ($2.6 billion) for the fiscal year …
(Photo Credit: Arabianeye-Reuters)
21 April 10:27 AM European stocks open Friday higher
Mubasher: European stocks opened Friday’s trading session in the green zone, amid anticipations of some economic data The Stoxx Europe 600 index rose 0.05% to reach 378.24 points by 8:15am GMT. Britain’s FTSE 100 index grew 0.10% to 7,125.9 …
The GCC Petroleum Media Forum in Abu Dhabi
20 April 12:25 PM Russia nods to oil output cut renewal – Kuwait official
By: Amr Adel Abu Dhabi – Mubasher: The oil minister of Kuwait, Essam Al-Marzouq, on Thursday said that Russia has approved in principle extending the agreement of reducing oil production to later than June. Russia’s compliance with the output …
Photo Credit: Arabianeye-Reuters
20 April 10:20 AM Kuwait likely to renew oil output reduction deal
By: Amr Adel Abu Dhabi – Mubasher: The agreement previously sealed for reducing oil production may be extended to later than June, endorsed by the commitment of non-members of the Organization of Petroleum Exporting Countries (OPEC), the oil …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
20 April 07:57 AM GCC exchanges likely see important resistance - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets will test important resistance levels on Thursday and next week, amid the economic changes the region is witnessing, Mohamed Radwan, a member of the International Federation of Technical Analysts …
UAE energy minister Suhail Al Mazroui (Photo Credit: UAE energy ministry website)
19 April 12:38 PM OPEC to discuss deal extension in May – UAE minister
By: Amr Adel Abu Dhabi – Mubasher: The Organization of Petroleum Exporting Countries (OPEC) is scheduled to meet in Vienna next month to discuss the results of implementing the oil output reduction deal, UAE energy minister Suhail Al Mazroui said …
(Photo Credit: Arabianeye-Reuters)
19 April 10:30 AM March data shows stronger oil deal compliance - OPEC official
By: Amr Adel Abu Dhabi – Mubasher: Oil producing countries have shown stronger compliance in March to the agreement signed to trim oil output, secretary general of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo said …
(Photo credit: Arabianeye-Reuters)
17 April 08:20 PM Business Confidence in Middle East hits record high in Q1, UAE in focus - Report
Dubai – Mubasher: Business confidence in the Middle East region has "rebounded strongly" in the first quarter of 2017, the latest edition of the Global Economic Conditions Survey showed. Economic sentiment has been "spearheaded by an increasingly …
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17 April 07:44 AM Geopolitics lead to selling blue chips at GCC markets – Analysts
By: Mahmoud Gamal Mubasher: Foreign investors are increasingly selling leading stocks in Gulf stock markets in line with the anticipation for the first quarter’s financial statements and the current geopolitical tension, analysts told Mubasher. …
The Emirati Minister of Energy, Suhail Al Mazroui - (Photo Credit: Mubasher Archive)
16 April 06:56 PM Oil prices corrections to continue this year - Minister
By: Amr Adel Dubai - Mubasher: The UAE minister of energy, Suhail Al Mazroui, expects the correction wave in oil prices globally to carry on in 2017. Al Mazroui said on Sunday that the correction movement could take a longer time, noting that it …
Prince Al-Waleed Bin Talal remained no. 1 on the list - (Photo Credit: Arabianeye-Reuters)
14 April 07:17 PM KSA, UAE top richest Arabs list 2017
Mubasher: Unveiling its list of richest Arabs for 2017, Forbes Middle East reported that Saudi Arabia topped the list with an overall wealth of $42.1 billion, owned by 10 billionaires. Published in the magazine’s April issue, the list indicated …
Six companies will be transferred to the secondary market - (Photo Credit: Arabianeye-Reuters)
14 April 07:16 PM ASE to cancel 3rd market on 16 April
Mubasher: Amman Stock Exchange’s (ASE) third market is set to be cancelled on Sunday, 16 April 2017, according to the 29th article of the directives for listing securities on ASE  for the year 2016, the bourse's CEO Nader Azar said. Six companies …
(Photo credit: Arabianeye-Reuters)
14 April 06:21 PM Aramco CEO expects oil market 'rebalancing' soon
Riyadh – Mubasher: The oil market is nearing a 'rebalancing' of supply and demand conditions, Reuters reported, citing Saudi Aramco CEO Amin Nasser as saying on Friday at the Columbia University Energy Summit. US oil production will result in …
(Photo credit: Arabianeye-Reuters)
14 April 03:45 PM China becomes no. 1 oil buyer globally
Mubasher: China's imports of crude oil jumped 19.4% year-on-year in March to 38.95 million tonnes, or around 9.21 million barrels per day (bpd), marking an all-time high, according to official data released by the Chinese government on Friday. …
(Photo credit: Arabianeye-Reuters)
14 April 11:17 AM US oil rigs rise for 13th week straight
Mubasher: The number of oil rigs in the US rose last week, registering an increase for the 13th week in a row. US rigs were up by 11 last week, reaching 683 rigs in the week ended Thursday, 13 April, data released by Baker Hughes Oilfield Services …
(Photo credit: Arabianeye-Reuters)
14 April 10:35 AM European markets closed on Good Friday
Mubasher: Several European financial markets will be closed on Friday, on the occasion of the “Good Friday” holiday. Bourses of the UK, France, and Germany, among other European countries, will suspend trading on Friday, in addition to Monday’s to …
(Photo credit: Arabianeye-Reuters)
13 April 08:07 AM GCC market performance bound by Q1 results, oil – Analysts
By: Mahmoud Gamal Mubasher: Gulf bourses are expected to continue their fluctuating-to-rising performance on Thursday and throughout the remaining trading sessions in April amid anticipation for companies' first-quarter financial results and oil …
(Photo Credit: Arabianeye-Reuters)
12 April 06:09 PM E-learning in Middle East reaches $570m in 2016
Dubai – Mubasher: The e-learning sector in the Middle East reached $570 million in 2016 from $450 million a few years ago, according to a new study published by Docebo institution. The study predicted that the sector’s annual growth rate will …
(Photo Credit: Arabianeye-Reuters)
12 April 11:44 AM KSA offers more light oil to Asia – Agency
Riyadh – Mubasher: Saudi Arabia has increased its light oil sales to Asia by offering buyers more cargoes alongside the full contract volumes it was to provide in May, informed sources told Reuters on Wednesday. This will boost the supply glut of …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
12 April 07:49 AM GCC stocks likely see sales amid political risks
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see wide sales of blue chips by institutional investors, amid increased tensions over Syria, analysts told Mubasher. Most Gulf bourses are expected to continue their …