Bahrain news

The GIC is equally owned by the governments of the six member states of the GCC
35 minutes ago Kuwait’s GIC credit backed by solid capital adequacy – Moody’s
Mubasher: The Gulf Investment Corporation's (GIC) credit profile is endorsed by solid capital adequacy and liquidity positions, Moody's Investors Service said in a report on Thursday. The GIC’s credit profile is backed by the company’s highly …
Italy’s debt has reached 130% of its GDP
3 hours ago 6 Eurozone members risk EU budget issues in 2018
Mubasher: The European Commission forecast that six Eurozone countries’ budgets may break the standard European Union (EU) deficit standards in 2018. Accordingly, the European Commission issued a warning to governments to remain within the …
Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed
3 hours ago GCC construction sector jumps 30% in 2017
Mubasher: Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed. The sector's undergoing projects amounted to $2.6 trillion, representing 160% of the GCC’s total growth domestic product (GDP), MRP’s …
c’s employment hits 17-yr high in November
3 hours ago Euro zone’s employment hits 17-yr high in November
Mubasher: Employment in the euro zone soared in November, registering its highest level in 17 years, according to the data of Purchasing Managers’ Index, IHS Markit Flash Eurozone PMI. Eurozone PMI Composite Output Index hit 57.5 points in …
Tesla to trial world’s largest battery storage facility
4 hours ago Tesla to trial world’s largest battery storage facility
Mubasher: Electric car maker Tesla Inc is to trial world's largest lithium ion battery facility in South Australia by December 2017. In July, Tesla announced that it would build the facility within 100 days. The new facility will be an important …
Eurozone economic activity hits 7-yr high in November
4 hours ago Eurozone economic activity hits 7-yr high in November
Mubasher: The Eurozone’s economic activity rose in the manufacturing and services segments in November from a month earlier, data released by IHS Markit for the Purchasing Managers’ Index (PMI) on Thursday showed. Eurozone activity rose to 57.5 …
Japanese stock market is closed on Thursday
11:49 AM Japanese stock market is closed on Thursday
Mubasher: The Tokyo Stock Exchange is closed on the Labor Thanksgiving Day, and it will resume its trades Friday. Japan and other countries across the world celebrate the Labor Thanksgiving Day by the end of each year. By 08:07 am GMT, JPY price …
The EIA disclosed that oil inventories decreased by 1.9 million barrels
11:01 AM Kuwait crude oil rises 70 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil added 70 cents to settle at $59.88 per barrel (pb) on Wednesday compared to $59.18 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices declined …
Oil prices down amid higher US oil rigs
10:37 AM Oil prices down amid higher US oil rigs
Mubasher: Oil prices dropped on Thursday, in line with investors’ anticipation of the Organization of the Petroleum Exporting Countries’ meeting next week and whether it will extend production cuts. Drillers of the US energy firms added nine oil …
Gold prices surged by 0.8% on Wednesday
12:49 AM Gold prices rise $10 on Wednesday
Mubasher: Gold prices increased by more than $10 during Wednesday’s trade. The precious metal futures went up by 0.8% to 1292.2 per ounce. Gold gains were supported by the decline of the US dollar on the back of macroeconomic data.
Nymex futures jumped 2.1% on Wednesday
12:37 AM Nymex above $58 for 1st time since mid-2015
Mubasher: Oil prices saw significant increase at the end of Wednesday’s trade, as Nymex reached its highest level in two years, after data revealed a decline in US oil stockpiles. Nymex futures for January delivery rose by 2.1% to the level of …
The naval base will include a 300-metre L-shaped inland berthing port
22 November 06:53 PM UAE’s firm begins building a $90m naval base in Somalia
Mubasher: Divers Marine Contracting announced on Wednesday the beginning of constructing UAE’s new naval base in Somali, after winning a contract of $90 million in April, Arabian Business reported, citing company managing director Abdulla Darwish …
Saudi Arabia is the biggest producers among OPEC members
22 November 06:12 PM Saudi Arabia aims at extending OPEC deal to 2018-end
Riyadh - Mubasher: Saudi Arabia is said to be pushing for a nine-month extension of the oil production cut agreement, which will expire in March 2018, Reuters reported on Wednesday citing industry sources. The Organization of the Petroleum …
Chestertons takes over Downtown International
22 November 05:59 PM Chestertons takes over Downtown International
Mubasher: UAE-based property company Chestertons MENA on Wednesday announced that it completed the acquisition of Downtown International, a multinational real estate agency and broker for residential developments, in an effort to open up fresh …
JPMorgan Chase Tower in Houston, Texas
22 November 05:48 PM Commodities to see bad year in 2018 - JPMorgan
Mubasher: A recent report by JPMorgan Chase is expecting commodity returns to face more poor performance in 2018, as reported by Bloomberg. Analysts noted that in order for traders to make money that will need to pick assets, such as agriculture, …
Photo Archive
22 November 04:23 PM Singapore to introduce self-driving buses in 5 yrs
Mubasher: Singapore’s ministry of transport announced on Wednesday that it hoped to deploy autonomous buses on public roads in three different districts of the city-state from 2022 to provide better connectivity, as reported by Reuters. Singapore …
New AI research center will be under the mobile and consumer electronics units
22 November 04:14 PM Samsung to create new AI unit
Mubasher: Samsung Electronics Company said on Wednesday that it would create an artificial intelligence (AI) research center. The tech giant will look forward to and strengthen an executive role to look for new business areas for all its three …
The drivers’ stolen information also included 600,000 US drivers' license numbers
22 November 02:49 PM Uber claimed to pay $100,000 to hackers stealing users’ data
Mubasher: Personal information of about nearly 57 million Uber customers and drivers was stolen by hackers last October. Uber, which fired its chief security officer this week on the back of the scandal, has kept the incident hidden for a year, …
Thomas Cook FY 2017 pretax profit hikes 20%
22 November 02:47 PM Thomas Cook FY 2017 pretax profit hikes 20%
Mubasher: Thomas Cook Group on Wednesday announced that its pretax profit rose 20% in the fiscal year 2017. The company’s finance charges jumped to GBP41 million ($54.3 million) due to costs of its bond refinancing in December 2016, which …
Repsol to invest $900m in Bolivia’s Iniguazu,– EFE
22 November 02:43 PM Repsol to invest $900m in Bolivia’s Iniguazu – EFE
Mubasher: A five-oil company consortium led by Spain's oil company Repsol agreed to invest around $900 million in a new gas block ‘Iñiguazu’ in southern Bolivia, Spanish news agency Efe said. The new block is expected to produce around 6.5 million …
HP Inc.’s profits increased year-on-year to reach $660 million in the fourth quarter of 2017, compared to $492 million
22 November 02:17 PM HP sees $660m profits in Q4-17
Mubasher: HP Inc.’s profits increased year-on-year to reach $660 million in the fourth quarter of 2017, compared to $492 million. The company’s revenues grew to $13.93 billion in Q4-17, from $12.5 billion Q4-16. “The results give us confidence in …
“You have to keep an open mind" - Janet Yellen
22 November 12:57 PM US Fed close to goal; 2017 low inflation a ‘mystery’ – Yellen
Mubasher: Current Federal Reserve chair Janet Yellen has said that the US central Bank was “reasonably close” to its goals and will likely continue raising interest rates in the coming period. The interest rate hikes are meant to “avoid the dual …
Global oil prices increased on Tuesday in line with the anticipation for the OPEC meeting
22 November 12:31 PM Kuwait crude oil adds 4 cents Tuesday – KPC
Mubasher: The price of Kuwaiti crude oil on Tuesday gained 4 cents to settle at $59.18 per barrel (pb) compared to $59.14 pb on Monday, according to the Kuwait Petroleum Corporation (KPC) latest data. At the global level, oil prices increased on …
The SME sector represents a proper solution for the GCC's governments to create jobs for young people
22 November 11:53 AM GCC-based SMEs to surge 156% to $920bn in 5yrs - MRP
Abu Dhabi – Mubasher: MENA Research Partners (MRP) on Wednesday published a study on the Small and Medium-Sized  Enterprises (SMEs) sector in the GCC countries. The study found that SMEs in the Gulf region have a potential to grow 156% to $920 …
Brent Crude futures rose 0.9% to $63.10 pb
22 November 11:19 AM Brent passes $63 on Canada-US pipeline disruption
Mubasher: Oil prices rose on Wednesday as piped Canadian crude to the United States dropped amid expectations of declining oil and fuel inventories. TransCanada Corp stated that it will cut deliveries on Keystone crude pipeline, which links oil …