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03 April 08:37 PM

Local Economy

Abdul Hamid Saeed - CBUAE governor
2 April 06:22 PM UAE names new central bank governor
UAE – Mubasher: The UAE President Sheikh Khalifa bin Zayed Al Nahyan has appointed Abdul Hamid Saeed as the new governor of the Central Bank of the UAE (CBUAE), according to a tweet by the official account of the UAE government on Thursday. With …
Central Banks
The UAE exports hit AED 341.9 billion in H1-19
2 April 04:44 PM UAE's non-oil trade records AED 786bn in H1-19
UAE – Mubasher: The UAE's non-oil trade climbed by 3.3% year-on-year (YoY) during the first half of 2019 to around AED 786 billion from AED 760.5 billion in the same half of 2018, according to the Emirates News Agency (WAM). The UAE exports hit …
Macroeconomics
CBK eased the risk weighting for SMEs to 25% from 75%
2 April 01:09 PM Kuwait C. bank offers stimulus to support vital sectors, SMEs
Mubasher: The Central Bank of Kuwait (CBK) on Thursday announced a stimulus package to help vital economic sectors, projects of added value, and small and medium-sized enterprises (SMEs) cushion the impact of the coronavirus outbreak. The new …
Central Banks
Global crude prices declined in a volatile session on Wednesday
2 April 10:51 AM Kuwait’s crude oil falls to $16.68 pb Wednesday - KPC
Mubasher: The price of Kuwait’s crude oil fell by $9.02 on Wednesday, 1 April, to finish at $16.68 per barrel (pb), compared with $25.7 pb last Tuesday, according to the official prices released by Kuwait Petroleum Corporation (KPC). At the global …
Macroeconomics
The global rating agency has assessed the group's performance in 4 sectors
2 April 10:14 AM S&P assigns GFH with 'B-' credit rating, stable outlook
Mubasher: Standard and Poor's (S&P) has assigned GFH Financial Group a long-term credit rating of 'B-', with a stable outlook, the group disclosed to the Dubai Financial Market (DFM) on Thursday. The global rating agency has assessed the group's …
Ratings
The total number of recovered cases in Saudi Arabia reached 264
1 April 04:58 PM Saudi Arabia announces 157 new COVID-19 cases
Riyadh – Mubasher: Saudi Arabia has reported 157 new coronavirus (COVID-19) cases, bringing the total number of cases in the Kingdom to 1,720, the spokesman for the Saudi Ministry of Health Mohammed Al Abd Al Ali announced on Wednesday. Al Ali …
Global Economy
The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Sabah
1 April 02:22 PM Kuwait's Emir donates KWD 5m for coronavirus relief
Mubasher: Kuwait's Emir Sheikh Sabah Al Ahmad Al Jaber Al Sabah has donated KWD 5 million in support of the recently-launched fund that aims to mitigate the fallout from the coronavirus (COVID-19) pandemic, Kuwait News Agency (KUNA) reported on …
Global Economy
A total of 911 cases left the quarantine in Kuwait
1 April 12:38 PM Kuwait’s COVID-19 toll up at 317
Mubasher: The number of coronavirus (COVID-19) infections in Kuwait reached 317 after 28 new patients tested positive for the pandemic during the past 24 hours, according to an official statement by the health ministry on Wednesday. Earlier this …
Global Economy
Global crude prices plunged by more than 54% on Tuesday
1 April 11:16 AM Kuwait’s crude oil up $1.37 pb on Tuesday - KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.37 on Tuesday, 31 March, to settle at $25.7 per barrel (pb), compared with $24.33 pb last Monday, according to official prices released by the Kuwait Petroleum Corporation (KPC). At the …
Macroeconomics
The ministry also reported seven new recoveries
1 April 10:46 AM Egypt’s COVID-19 cases reach 710
Cairo – Mubasher: The Egyptian Ministry of Health confirmed 54 new cases of the novel coronavirus (COVID-19) of Egyptians returning from abroad.   In addition, the ministry also reported seven new coronavirus recoveries and five new deaths, the …
Global 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 …
Banking and Finance
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 …
Commodities
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 …
Financial Results
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