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Bahrain news

The investment sector added 0.17%
41 minutes ago Bahrain Bourse rises over 20 pts in week
Mubasher: The Bahrain Bourse’s general index grew by 20.37 points, or 1.33%, to reach 1,547.31 points in a week. The investment sector added 0.17% and the services sector gained 0.66%, while the industrial sector stabilised. Trading volume …
Kuwaiti oil minister Khaled Al Fadel
2 hours ago Kuwait’s oil minister rebuffs reported OPEC agreement on supply cuts
Mubasher: Kuwaiti oil minister Khaled Al Fadel on Friday dismissed reports on an agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) on cutting their collective supply by 500,000 barrels per day to 1.7 million …
4 hours ago Phoenix Group acquires Swiss Re’s UK unit for $4.3bn
Mubasher: Reinsurance company Swiss Re agreed to sell its UK subsidiary for pension giant Phoenix Group for GBP 3.25 billion in cash and shares.
Kuwaiti crude oil settled at $64.43 pb
4 hours ago Kuwaiti oil barrels settle 1.61% higher on Thursday
Mubasher: Kuwaiti crude oil surged by $1.61, settling at $64.43 per barrel (pb) on Thursday. This came after Kuwait barrels recorded $62.82 pb in the preceding session, Kuwait News Agency (KUNA) said, citing the Kuwait Petroleum Corporation (KPC). …
Novak met his Saudi counterpart Prince Abdulaziz bin Salman
5 hours ago Saudi-Russian trade exchange grows 54% in 9M–Novak
Riyadh – Mubasher: Saudi-Russian trade exchange grew by 53.8% over the first nine months of 2019 on the prior year, Russian energy minister Alexander Novak said. The volume of trade exchange between Saudi Arabia and Russia amounted to $1.2 billion …
10:35 AM Global food prices hit 2-year peak in November
Mubasher: Food prices worldwide surged in November, hitting their highest level since more than two years, mainly driven by meat and vegetable oil price increases.
5 December 07:53 PM Ten wild predictions that could change global economy in 2020
5 December 05:42 PM Dubai, London, NY recognised 2019’s ‘Construction Mega Cities’ – GlobalData
The combined value of the project pipelines in those mega cities reaches $5.3 trillion
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …
5 December 01:59 PM India considers law obliging social media users’ verification
The Indian government has proposed a new privacy bill that may require major social media platforms to offer an identify-verification option.
5 December 01:05 PM bitFlyer facilitates crypto purchases in Europe
Mubasher: Cryptocurrency exchange bitFlyer will make it easy for customers in Europe to purchase digital assets through credit and debit cards and other transfer methods.
5 December 01:03 PM Google’s algorithm takes its toll on Expedia as executives resign
Mubasher: Markets are worried over the headwind hitting Washington-based travel technology company Expedia after its CEO and CFO were forced to resign.
5 December 12:30 PM BP ups stake in Lightsource BP to 50%
The new investment will help accelerate Lightsource BP’s growth
5 December 11:58 AM Veeam unveils new backup service for Amazon Web Services
Mubasher: Backup and recovery software provider Veeam launched a new backup service for Amazon’s on-demand cloud computing platforms subsidiary, Amazon Web Services.
5 December 11:18 AM Moody’s cuts global banks’ outlook to ‘negative’
Mubasher: Moody’s Investors Service downgraded its ‘stable’ outlook to ‘negative’ for global banks, citing “downside risks.”
Kuwait crude oil edged up by $0.21
5 December 10:19 AM Kuwait oil settles at $62.82 pb
Mubasher: Kuwait crude oil edged up by $0.21, to close at $62.82 per barrel (pb) on Wednesday, compared with $62.61 pb in Tuesday’s settlement, the Kuwait Petroleum Corporation (KPC) said. Outside Kuwait, global oil prices gained more than 4% at …
Founder and CEO of ArabNet, Omar Christidis
4 December 05:54 PM Arabnet Riyadh 2019 is packed with initiatives – CEO Interview
By: Moslem Ali Riyadh – Mubasher: ArabNet Riyadh will feature multiple tracks delving into discussions across a range of industries and topics on 10 & 11 December, bringing together more than 6,000 attendees. The Founder and CEO of ArabNet, Omar …
4 December 04:50 PM Alliance Group names new General Secretary
Mubasher: Alliance has appointed Hadi Zablit as new General Secretary, according to a press release on Wednesday.
Kuwait’s foreign reserves rose by 5.23% year-on-year
4 December 03:58 PM Kuwait’s FX reserves grow 5.23% in October
Mubasher: Kuwait’s foreign reserves rose by 5.23% year-on-year in October, the Central Bank of Kuwait’s (CBK) monthly statistics showed on Wednesday. The Gulf country’s foreign currency exchange reserves amounted to KWD 11.801 billion ($38.939 …
GCC chemical production capacity reached 174.8 million tons last year
4 December 03:48 PM GCC chemical industry achieves $84bn in 2018
Mubasher: The chemical industry in the Gulf Cooperation Council (GCC) member countries achieved a revenue of $84.1 billion in 2018, according to a recent report by the Gulf Petrochemicals and Chemicals Association (GPCA). GCC production capacity …
Booking for the new flights is available on Jazeera Airways’ website
4 December 03:01 PM Jazeera Airways to start direct flights to Dammam, expands other connections
Mubasher: The leading economy airline in Kuwait Jazeera Airways announced a new flight service to Dammam in Saudi Arabia. Starting on 19 December this year, the flights will head to the capital of the Eastern Province three times a week; Tuesdays, …
4 December 02:55 PM OPEC losing grip on global market; Non-members are the culprit
Mubasher: Non-OPEC countries have been increasing their oil output over time, compromising the organisation ability to control the global market.
4 December 01:57 PM Increasing awareness about solar power can benefit hotel industry -Swiss-Belhotel
Mubasher: The SVP, Operations and Development of Swiss-Belhotel International, Laurent A. Voivenel, delivered an outstanding presentation at The Big 5 Solar conference.
Global gold prices fell by 4% during November
4 December 01:55 PM Egypt’s gold reserves fall $119m in November
By: Heba El-Kordy Cairo – Mubasher: Gold reserves in Egypt declined by $119 million to $3.148 billion in November, compared to $3.267 billion in October, in tandem with the decline in gold prices globally. Year-on-year, the contribution of gold to …
MEA will place its ‘ME’ code on the Bahraini airline’s flights
4 December 01:47 PM Gulf Air, Middle East Airlines ink codeshare agreement
Mubasher: Gulf Air announced a codeshare agreement with Lebanon’s Middle East Airlines-Air Liban (MEA), the Bahrain’s flag carrier said in a press release. Under the partnership, MEA will place its ‘ME’ code on the Bahraini airline’s flights …