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29 May 02:52 AM

Levant news

29 October 2018 04:29 PM China regulator suggests 50% car purchase tax cut
China is mulling over a tax reduction in a bid to reinvigorate its drooping automobile market.
Global Markets brief
29 October 2018 03:41 PM US September consumer spending rises 0.4%; personal income grows 0.2%
US consumers increased their spending in September as their personal income improved, official data showed on Monday.
Global Reports
29 October 2018 03:34 PM Japan retail sales grow at slower pace in September
Japan's retail sales rose in September for the 11th month in a row, but at a slower pace from August.
Global Markets brief
29 October 2018 03:09 PM Far-right Bolsonaro wins Brazil presidential elections
Far-right candidate Jair Bolsonaro won Brazil's presidential elections, heralding a dramatic shift to the right in the country’s political landscape.
Global Reports
29 October 2018 02:40 PM Merkel to resign as party leader, remain Germany’s chancellor
German Chancellor Angela Merkel told senior officials in the Christian Democrats that she will not seek re-election as party chairwoman at a conference in December.
Global Markets brief
29 October 2018 02:14 PM Indonesian plane crashes into sea; no survivors found yet 
An Indonesian passenger jet with 189 people on board crashed into the sea and sank on Monday after flying from Jakarta.
Global Markets brief
29 October 2018 01:44 PM Takeda eyes selling OTC European assets
Takeda Pharmaceutical Co. is weighing a sale of assets from its over-the-counter (OTC) division in Europe.
Global Markets brief
29 October 2018 00:54 PM HSBC logs $3.9bn profit in Q3
HSBC Holdings Plc on Monday posted a 32% year-on-year profit hike in the third quarter of 2018, registering $3.90 billion, from $2.90 billion.
Global Economy
29 October 2018 00:49 PM UK consumer borrowing growth loses pace in September
UK consumer borrowing growth lost momentum in September, official data revealed on Monday.
Global Reports
29 October 2018 00:23 PM Daimler, Tesla future cooperation ‘not excluded’ – CEO
Daimler does not rule out cooperating with Tesla in the future, even after the luxury carmaker sold its stake in the electric car giant.
Global Reports
29 October 2018 11:32 AM IBM to acquire software firm Red Hat for $34bn
IBM agreed to acquire US open source cloud software company Red Hat for around $34 billion, including debt.
Global Reports
29 October 2018 10:59 AM Oil prices dip Monday on global trade slowdown worries
Oil prices declined on Monday as traders grew cautious over plunging stock markets last week and stronger US dollar earlier this week.
Oil and Energy
28 October 2018 04:14 PM Turkey unveils world’s biggest airport
Turkey will unveil Istanbul New Airport, which will eventually become the world’s largest air transport hub, President Recep Tayyip Erdogan said.
Global Reports
Emaar Properties’ unit eyes global hotel portfolio expansion
19 November 2017 10:48 AM Emaar Properties’ unit eyes global hotel portfolio expansion
Dubai - Mubasher:  Oliver Harnisch, CEO of Emaar Hospitality Group, has said that the group intends to double its hotel portfolio four times by 2021. Harnisch explained that the Emaar Properties subsidiary  has 30 hotels under development in the …
Global Economy Global Indices
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
14 November 2017 08:12 PM Bin Talal’s Beirut hotels go up for sale
Riyadh – Mubasher: Saudi Prince Alwaleed bin Talal is rumoured to have put its luxury hotels in Beirut up for sale. “A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel …
Companies Investments Global Indices
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 2017 07:35 PM Global markets take a hit on Saudi arrests - Report
By: Mohamed Soliman Mubasher: The recent wave of surprising Saudi resolutions, which involved the arrest a number of princes and ministers through the government’s new anti-corruption campaign has negatively impacted global markets. King …
Macroeconomics Global Indices
The project will be the first major scheme involving the two state giants
25 October 2017 09:47 PM Aramco, SABIC receive bids for $20bn petrochemicals project
Riyadh - Mubasher: Saudi Aramco and Saudi Basic Industries Corp (SABIC) have reportedly received project management consultancy bids for a planned joint venture oil-to-chemicals project, industry sources told Reuters on Wednesday. The two Saudi …
Global Economy Global Indices
Aramco is the biggest oil company in the world
24 October 2017 11:46 PM Aramco to decide on COTC with SABIC by year-end
Riyadh - Mubasher: Saudi Aramco expects to decide on the plans for a joint oil-to-chemicals project with Saudi Basic Industries Corp (SABIC) by the end of 2017, as reported by the Reuters. “We finished the feasibility. We are at a stage where we …
Companies Investments Global Indices
This acquisition step is expected to expand Investcorp’s geographic footprint
18 October 2017 05:06 PM Investcorp acquires UK Kee Safety in $370m deal
Mubasher: Investcorp announced its agreement on acquiring Dunedin’s stake in the UK-based Kee Safety for a total value of GBP 280 million ($370 million), according to a recent statement. Investcorp is a leading provider and manager of alternative …
Global Economy Global Indices
Emaar recently unveiled the Cove 1 in the region
18 September 2017 09:31 AM Emaar launches Address Harbour Point
Dubai – Mubasher: Emaar Properties launched the two-tower Address Harbour Point in the heart of Dubai Creek Harbour, according to Al Bayan newspaper. The first tower is made up of 65 storeys and the second has 53 storeys, featuring a total of 202 …
Commodities Global Indices
Dana Gas Egypt’s production output grew by 13% during the first half of 2017
15 August 2017 04:02 PM Dana Gas to drill 3 new wells in Egypt
Abu Dhabi – Mubasher: Dana Gas on Tuesday said its receivables from the Egyptian government contributed to its profit growth during the first half of 2017. The Sharjah-based gas company also announced plans to drill three exploration wells on …
Companies Investments Global Indices
Photo Archive
16 July 2017 10:05 PM KFH is world’s biggest in Sukuk issuance - Chairman
Kuwait - Mubasher: The chairman of Kuwait Finance House (KFH) said that the group is the biggest Sukuk issuer in the world, as demand is rising on the sharia-compliant product. Hamad Abdulmohsen Al Marzouk added in a statement issued on Sunday …
Banking and Finance Global Indices
The port has a draft of up to 11 metres (tide free) and three 400-metre berths that can accommodate cruise vessels
6 July 2017 04:03 PM DP World Limassol to open new terminal
Dubai – Mubasher: A new terminal is scheduled to open in the summer at DP World Limassol port in Cyprus, according to a statement. Designed to accommodate the largest operating cruise vessels, the new terminal consists of seven pods with an …
Commodities Global Indices
QAR last recorded EGP 4.64 for selling and EGP 4.93 for buying on the bank's list
5 July 2017 09:14 PM ADIB - Egypt lifts QAR from its currencies
Cairo - Mubasher: Abu Dhabi Islamic Bank (ADIB) - Egypt has removed the Qatari Riyal from its exchange rates screen, as shown by the bank’s website. The QAR registered EGP 4.64 for selling and EGP 4.93 for buying in the bank’s trade on Tuesday. …
Central Banks Global Indices
Photo Credit: Company Website
27 May 2017 06:57 PM DP World negotiates acquiring stake in Russian ports operator
 Dubai - Mubasher: DP World is in talks to buy a stake in a Russian transport operator company, the Financial Times reported. Summa Group is discussing selling a stake in Fesco, Russia’s largest ports and rail transport operator, to a consortium …
International Agreements Global Indices