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Local Economy

Saudi Ministry of Health
31 March 06:42 PM Saudi Arabia reports 110 new coronavirus cases
Riyadh – Mubasher: The Saudi health ministry recorded 110 new cases with the coronavirus (COVID-19), bringing the total number of cases in the kingdom to 1,563 since the outbreak of the global pandemic. The ministry said in its daily report that …
Global Economy
Global oil prices fell to an 18-year low on Monday
31 March 11:49 AM Kuwait’s crude oil down $1.93 pb on Monday – KPC
Mubasher: The price of Kuwait’s crude oil price registered $24.33 per barrel (pb) on Monday, 30 March, down by $1.93 when compared to $26.26 pb last Friday, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the …
Macroeconomics
Residents allowed to leave Kuwait next month without paying travel costs or violation fines
30 March 05:06 PM Kuwait allows residence violators to depart without paying fines
Mubasher: Kuwait’s Deputy Prime Minister and Interior Minister, Anas Al Saleh, on Monday issued a resolution granting a grace period to residence violators to depart the country without paying any fines. The amnesty decision allows residents to …
Global Economy
Foreign currency derivatives balance jumped to AED 797.2 billion in February
29 March 02:01 PM UAE banks' guarantee letters, credit facilities hit AED 4.5trn in February
UAE – Mubasher: The total cumulative balance of letters of guarantee and credit, liabilities, and other credit facilities at the Central Bank of the UAE (CBUAE) grew by 4.3% month-on-month (MoM) or AED 86 billion in February 2020. The balance …
Macroeconomics
Investors in Boursa Kuwait
29 March 12:41 PM Kuwait’s COVID-19 toll rises to 255
Mubasher: The total number of coronavirus (COVID-19) cases in Kuwait grew to 255 on Sunday after 20 new patients tested positive for the novel disease over the past 24 hours, the country’s health ministry disclosed on its official Twitter page. …
Global Economy
S&P has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA'
29 March 12:03 PM S&P affirms Abu Dhabi's credit rating; stable outlook
Abu Dhabi – Mubasher: S&P Global Rating has affirmed the long-term sovereign credit rating of Abu Dhabi at 'AA' and the short-term foreign and domestic currency rating at  'A-1+', with a stable outlook. S&P Global Rating expected that Abu Dhabi's …
Ratings
The package includes postponing the rent period for up to six months
29 March 10:07 AM Dubai adopts economic stimulus package for companies in free zones
Dubai – Mubasher: Dubai has launched the second economic stimulus package to support companies at Dubai Free Zones and mitigate the effects of the current economic situation, namely for small and medium-sized enterprises (SMEs), according to Dubai …
Macroeconomics
Central Bank of the UAE
28 March 03:04 PM CBUAE clarifies working remotely to banks
Mubasher: The Central Bank of the UAE (CBUAE) and the UAE Banks Federation (UBF) have prioritised working remotely for the majority of the banking sector’s workforce, according to the Emirates News Agency (WAM). Only 30% of those working in …
Central Banks
Photo Archive
28 March 11:41 AM Egypt sets travellers quarantine period at 28 days
Mubasher: The Egyptian Ministry of Health has decided to set the isolation period for returning passengers and their families and those who were in close contact with them at 28 days, instead of 14 days. The move comes as part of efforts to combat …
Global Economy
Photo Archive
27 March 10:33 PM Egypt announces 41 new coronavirus cases
Cairo – Mubasher: The Egyptian Ministry of Health and Population reported 41 new coronavirus (COVID-19) cases and six deaths. The new cases include 40 Egyptians, who were in contact with previously reported cases, and an American. In addition, 14 …
Global Economy
President of Egypt, Abdel Fattah El-Sisi
27 March 06:07 PM Egypt calls for African debt relief by G20 countries
Cairo – Mubasher: President of Egypt, Abdel Fattah El-Sisi, has presented an initiative to the G20 group to consider easing debt burdens on African countries, in light of the impacts of the coronavirus (COVID-19) crisis on the continent’s …
Event
Kuwaiti crude settled at $27.81 per barrel (pb) on Thursday
27 March 03:27 PM Kuwait oil down to $27.8 pb
Mubasher: The price of Kuwait oil decreased by $1.13 on Thursday, Kuwait News Agency (KUNA) reported. Kuwaiti crude settled at $27.81 per barrel (pb) yesterday, compared with its level on Wednesday’s close at $28.94, according to the Kuwait …
Macroeconomics
A total of 49 cases have now recovered in Kuwait
26 March 02:19 PM Kuwait reports 13 coronavirus cases; total at 208
Mubasher: Kuwait has reported 13 new coronavirus (COVID-19) cases during the past 24 hours, the Ministry of Health announced on Thursday. Six cases are Kuwaiti citizens who recently arrived from Saudi Arabia, Egypt, and France, while one case is …
Global Economy
The company's contribution to UAE economy amounted to AED 36.9 billion since 2005
26 March 10:25 AM ADNEC contributes AED 4.9bn to UAE economy in 2019
Abu Dhabi – Mubasher: The Abu Dhabi National Exhibition Centre (ADNEC) company has contributed AED 4.9 billion to the UAE economy during 2019, up by 46% when compared to 2018, according to the Emirates News Agency (WAM). Therefore, the company's …
Macroeconomics
Seven cases have recovered from the novel disease in the UAE
25 March 05:03 PM UAE announces 85 new COVID-19 cases
UAE - Mubasher: The UAE has reported 85 new coronavirus (COVID-19) cases, including seven Emiratis, raising the total number of cases to 333, The Emirati Ministry of Health and Population (MoHAP) announced in a press conference on Wednesday. …
Global Economy
The new cases include 18 individuals who returned from abroad
25 March 04:56 PM Saudi Arabia announces 133 new COVID-19 cases
Mubasher: The Saudi health ministry on Wednesday confirmed 133 new infections with the coronavirus (COVID-19), state-run Saudi Press Agency (SPA) reported.  The new cases include 18 individuals who returned from abroad and 115 that had been in …
Global Economy
Egypt recorded 40 new COVID-19 cases
25 March 04:26 PM Egypt's COVID-19 cases rise to 442
Cairo – Mubasher: Egypt has recorded 40 new coronavirus (COVID-19) cases, bringing the total number of cases to 442, Minister of Health Hala Zayed announced on Wednesday. During a press conference held on Wednesday, Zayed referred that the number …
Global Economy
The flights will be operated through Egypt Air’s Boeing 777
25 March 03:17 PM Egypt sends first charter flight to Kuwait
Cairo – Mubasher: EgyptAir has operated the first chartered flight from Cairo to the Kuwait International Airport to bring Egyptian nationals back home on Wednesday, Middle East News Agency (MENA) reported. The move was confirmed on Monday when …
Global Economy
Brent futures inched up by 12 cents on Tuesday
25 March 12:16 PM Kuwait’s crude oil rises to $27.97 pb Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil went up by $1.86 on Tuesday, 24 March, to finish at $27.97 per barrel (pb) from $26.11 pb on Monday, according to the official prices of the Kuwait Petroleum Corporation (KPC). Globally, crude prices …
Commodities
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 12:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
Global Economy
A total of 43 COVID-19 patients have recovered in Kuwait
25 March 11:28 AM Kuwait registers 4 new COVID-19 cases, 4 recoveries
Mubasher: Kuwait on Wednesday announced that four new patients tested positive for the new coronavirus (COVID-19) over the past 24 hours, taking the country’s toll to 195 cases so far, according to an official statement by the health ministry. Two …
Global Economy
The law has allocated AED 500 million in the company's capital
24 March 04:41 PM UAE converts ADX to public joint shares company
Abu Dhabi - Mubasher: The President of UAE, Sheikh Khalifa bin Zayed Al Nahyan, has issued a law to change the legal status of the Abu Dhabi Securities Exchange (ADX) into a public joint shares company owned by ADQ, the new brand of the Abu Dhabi …
Trading Activities
Downtown Cairo - (Photo Archive)
24 March 03:04 PM Egypt enforces two-week curfew from 7 PM to 6 AM
Cairo - Mubasher: The Prime Minister of Egypt, Moustafa Madbouly, announced on Monday that the government will impose a curfew on main roads during night time for two weeks, starting Wednesday 25 March 2020. It prohibits commuting on public roads …
Macroeconomics
Global prices jumped by more than 3% on Monday
24 March 11:54 AM Kuwait’s crude oil retreats to $26.11 pb on Monday - KPC
Mubasher: The price of Kuwait’s crude oil decreased by $4.33 on Monday, 23 March, to stand at $26.11 per barrel (pb) compared to $30.44 pb last Friday, according to the official prices by the Kuwait Petroleum Corporation (KPC). Global oil prices …
Macroeconomics
The cases are two residents from India and the Philippines
24 March 11:21 AM COVID-19 cases in Kuwait reach 191
Mubasher: The Kuwaiti health ministry on Tuesday announced two new infections with the coronavirus (COVID-19) during the last 24 hours, taking the total count to 191 in the country, according to an official statement. The newly detected cases are …
Global Economy