Bahrain news

Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
A rise in credit risk along with the lower oil prices continue to be major constraining factors
26 September 09:39 AM Capital Intelligence affirms GFH rating; outlook ‘stable’
Mubasher: GFH Financial Group on Tuesday said that Capital Intelligence Ratings has confirmed the bank’s long-term rating at ‘BB’ and short-term rating at ‘B’. The ratings agency gave the Bahrain-based bank a ‘stable’ outlook, GFH said in a filing …
The board will also approve results for the first nine months of 2017
26 September 09:14 AM GFH Group to discuss financials 12 November
Dubai - Mubasher: GFH Financial Group on Tuesday said its board was set to convene on Sunday, 12 November to discuss and approve the group’s financial results for the third quarter of 2017. The board will also approve results for the first nine …
Brent futures went up by 3.9% to $59.13 per barrel
26 September 01:13 AM Brent jumps 4%, breaks $59 level
Mubasher: Brent crude oil rose by 4% during Monday trade, surpassing the level of $59, amidst a dominant positive sentiment, as investors are optimistic regarding cutting output. By 9:34 PM (GMT), Brent futures went up by 3.9% to $59.13 per barrel …
Bahrain will be home to Amazon's 17th availability zone in the world
26 September 01:07 AM Amazon to build three data centres in Bahrain
Mubasher: Amazon Web Services (AWS) is set to build three huge data centres in Bahrain by 2019, following an agreement between the American company and the Bahraini government. AWS announced in Manama that it has selected Bahrain as the location …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …
Gold futures went up by 1.1% to its highest level in 10 days
26 September 12:22 AM Gold prices surge on rising geopolitical risks
Mubasher: Gold prices have risen by the end of Monday trade, increasing by around $14 and exceeding the level of $1,300, as more geopolitical risks are rising with North Korea threatening to target American Aircrafts. Gold futures went up by 1.1%, …
Earnings growth shifts down a gear turning outlook on global oil and gas sector stable
25 September 11:42 PM Moody's expects lower return growth for oil, gas sectors
Mubasher: An expected slowdown in the pace of earnings growth has moved the 2018 outlook on the global integrated oil and gas industry to stable from positive, Moody's Investors Service said in a report published Monday. The slowdown follows a …
AccorHotels currently has more than 100 hotels in the MENA region
25 September 08:38 PM AccorHotels opened 12 new hotels in 2017
Dubai – Mubasher: AccorHotels announced on Monday that it has inaugurated 12 hotels so far this year, according to press release. The company’s hotels portfolio in MENA region has now surpassed more than 100 hotels. As per the statement, the new …
Khazzan Gas Field
25 September 06:22 PM BP launches production in Oman’s Khazzan gas field
Mubasher: BP announced on Monday that it has begun production at the Khazzan gas field in Oman, according to a company statement. The Omani oil and gas minister said that BP has successfully delivered the first phase of the project on time, adding …
Brent futures rose by 1.4% to $57.67 per barrel
25 September 03:52 PM Brent surges to highest level since mid-2015
Mubasher: Brent crude oil expanded its gains during Monday trade, reaching its highest level in more than two years, with investors showing a positive sentiment regarding the output limitation agreement. Brent futures rose by 1.4% to the level of …
Gold has fallen by more than $70 per ounce in 2017
25 September 01:15 AM Gold down to $1,295 per ounce - Sabaek
Mubasher: Gold prices went down by $23 to reach $1,295 per ounce in last week's trading in New York New Mix market, according to Sabaek Al-Kuwait Company. Kuwait News Agency (KUNA) reported that the company added in its weekly report on Sunday …
The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT)
24 September 02:28 PM GCC members not applying VAT not to impact UAE – Al Bustani
Abu Dhabi – Mubasher: The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT), Emarat Al Youm newspaper reported, citing Federal Tax Authority (FTA) director general Khalid Al Bustani as …
The UAE is willing to fully execute the Gulf Railway
24 September 10:33 AM GCC Ministers of Transport defer Gulf Railway execution
Abu Dhabi – Mubasher: The Committee of Ministers of Transport and Communication in the GCC has decided to postpone the implementation of the Gulf Railway to 2020 – 2021 instead of 2018. The UAE is willing to fully execute this project, minister of …
The third quarter of 2017 is nearing its close, which means that financial disclosures will prompt portfolios to purchase stocks
24 September 09:01 AM Saudi, Kuwaiti stocks likely to rise ahead of FTSE results - Analysts
By: Mahmoud Gamal Mubasher: Gulf bourses are likely to rise this week with listings on the FTSE Emerging Markets Index coming in focus, analysts told Mubasher. GCC stock markets are heading towards a “temporary rise”, particularly Saudi and …
Saudi Arabia Medgulf owed this amount to Medgulf Bahrain
22 September 07:18 PM Medgulf Bahrain reduces debts to SAR 123m
Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance (Medgulf) on Thursday announced a settlement of Medgulf Bahrain debts, amounting to SAR 163.38 million, by SAR 40.59 million. Saudi Arabia Medgulf owed this amount to …
Google signed a $1.1 billion dollar agreement with HTC Corporation to purchase a stake of its operations
21 September 01:02 PM Google buys $1.1bn stake in HTC
Mubasher: Google signed a $1.1 billion dollar agreement with HTC Corporation to purchase a stake of its operations. Alphabet Inc., Google's owner on Thursday stated that some of HTC’s employees will join Google, as well as Google will receive a …
Sources have told Al Anba Newspaper that the conversion is a preliminary step
20 September 05:32 PM AUB denies news on converting to Islamic entity
Mubasher: Ahli United Bank (AUB) clarified that there has not been any decision taking for converting the bank’s entity from being traditional to sharia-compliant. The bank has disclosed this statement as a comment on a recent news story issued by …
“However, this investor class has seldom been researched in detail despite its widespread influence in the economy,” the report commented
20 September 03:59 PM Pension funds important for GCC stability, growth – Marmore
Mubasher: Pension funds across the GCC are the second largest set of institutional investors in the region after the Sovereign Wealth Funds (SWFs), according to a report by Marmore MENA Intelligence, a subsidiary of Kuwait Financial Centre …
He added that through BSO’s “low-latency and highly resilient connectivity service” traders can enjoy transparent and secure trading
20 September 01:52 PM DGCX enables trading from London via BSO
Dubai – Mubasher:  The Dubai Gold and Commodities Exchange (DGCX) announced that BSO Network Solutions enhanced its Market Data Connect service to enable direct trading and market data access between it and Interxion London. The service will give …
Kuwait’s crude oil decreased by 7 cents to reach $52.59 per barrel
20 September 11:27 AM Kuwait’s crude oil down 7 cents Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil decreased by 7 cents to reach $52.59 per barrel (pb) on Tuesday compared to $52.66 pb on Monday, according to a the latest data issued by the Kuwait Petroleum Corporation (KPC). The U.S. Energy Information …
Boursa Kuwait said it will resume trading on the stocks of Ahli United Bank (AUB), Ahli United Bank – Kuwait (AUB), and Kuwait Finance House (KFH), effective Wednesday, 20 September
20 September 08:48 AM Boursa Kuwait to resume trading on 3 stocks Wednesday
Kuwait – Mubasher: Boursa Kuwait said it will resume trading on the stocks of Ahli United Bank (AUB), Ahli United Bank – Kuwait (AUB), and Kuwait Finance House (KFH), effective Wednesday, 20 September. Analysts forecasted that trading’s resumption …
The United States expected shale oil production to rise by 79,000 barrels per day
19 September 01:07 PM Kuwait crude oil up 36 cents Monday – KPC
By: Mohammad Farouk Mubasher: The price of Kuwait’s crude oil increased by 36 cents to reach $52.66 per barrel (pb) on Monday compared to $52.30 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the …
Several news stories were published on the possibility of a merger between KFH and AUB
18 September 10:28 AM Boursa Kuwait suspends trading on 3 banks
Mubasher: Boursa Kuwait suspended trading on Kuwait Finance House (KFH), Ahli United Bank (AUB), and AUB Kuwait until the banks comment on a recent published news, according to a bourse filing. Several news stories were published on the …