Global Economy

Photo Credit: Arabianeye-Reuters
22 May 10:05 PM Oil prices up to highest level in 4 weeks
Mubasher: Oil prices ended Monday’s trading in a rise as the meeting of the Organization of the Petroleum Exporting Countries (OPEC) approaches, after the Iraq approved the proposal to extent the output deal. The price for West Texas Intermediate …
Photo Credit: Arabianeye-Reuters
22 May 09:20 PM How $10 drop in oil prices would affect Saudi economy?
Riyadh - Mubasher: The Saudi economy is highly vulnerable to prolonged lower global oil prices, the Institute of International Finance (IIF) said in a recent report. “With still glut in the oil market and the potential of recovery in oil …
Photo Credit: Ministry Website
20 May 07:58 PM KSA-USA bilateral trade reached SAR2tr in 10 years
Riyadh - Mubasher: The Saudi Ministry of Commerce and Investment (MCI) said that trade exchange between Saudi Arabia and the United States has exceeded SAR 10 trillion ($533 billion) during the last decade. The ministry said in a statement on …
Saudi Aramco CEO, Amin Nasser - (Photo Archive)
20 May 10:08 AM Aramco to sign $50bn deals with US firms - CEO
Riyadh - Mubasher: The CEO of Saudi Aramco Amin Nasser said on Saturday that his company is expecting to sign $50 billion worth of deals with American companies to diversify the kingdom’s energy resources, according to Reuters. Amin Nasser added …
SoftBank Group CEO Masayoshi Son (Photo credit: Arabianeye-Reuters)
19 May 06:16 PM Japan's richest man to close largest private equity fund in KSA
Riyadh – Mubasher: Masayoshi Son, head of Japan's SoftBank Group Corp and the richest man in the country, is planning to visit Saudi Arabia this weekend alongside US president Donald Trump. Trump will be making his first overseas trip since taking …
(Photo credit: Arabianeye-Reuters)
19 May 12:11 PM Oil extends rise Friday; Brent at $53 pb
Mubasher: Oil prices continue to rise on Friday, with Brent crude surpassing the $53 per barrel (pb) level. By 10:05 am GMT, Brent crude and Nymex future contracts rose 1.09% each to $53.08 pb and $49.89 pb, respectively. Reports indicate that …
(Photo credit: Arabianeye-Reuters)
19 May 10:19 AM Oil nears 1M-high; Brent to gain 4% in week
Mubasher: Oil prices rose to one-month highs on Friday, and are likely to record weekly gains of around 4%. By 8:10 am GMT, Brent crude futures rose 0.7% to $52.85 per barrel (pb), while Nymex crude added 0.8% to $49.73 pb, with both oil products …
Reforms aim at diversifying economy, giving larger role to the private sector - (Photo Credit: Arabianeye-Reuters)
18 May 12:46 AM IMF praises Saudi reforms; calls for gradual consolidation, empowering women
Riyadh - Mubasher: Saudi Arabia has embarked on a bold reform program under Vision 2030, according to a report by a team from the International Monetary Fund (IMF), which held discussions between 30 April and 11 May 2017. According to the IMF, …
Photo Credit: Arabianeye-Reuters
17 May 06:12 PM Oil prices up on lower US inventories
Mubasher: Oil prices saw another rise after data showed a decline in US crude stocks. By 4:05 GMT, the price for West Texas Intermediate (WTI) or (Nymex) futures went up by 1.3% to $49.3 per barrel (pb), while Brent Crude futures increased by 1.5% …
The French Prime Minister, Édouard Philippe - (Photo Credit: Reuters)
15 May 06:04 PM Macron selects Édouard Philippe as French PM
Mubasher: The French president, Emmanuel Macron, has appointed Édouard Philippe as the country’s new prime minister. The newly-chosen PM is the mayor of Le Havre, and a member of the centre-right the Republicans party or “Les Républicains”. This …
Photo Credit: Arabianeye-Reuters
13 May 12:16 PM Oil prices rise amid hopes of extending the OPEC deal
Mubasher: Oil prices have increased during the week ended Friday by 3.5%, as hopes for extending the output agreement are getting higher. The price for West Texas Intermediate (WTI) or (Nymex) futures went up by 3.5% to $47.84 per barrel (pb) …
(Photo credit: Arabianeye - Reuters)
12 May 01:44 PM Oil turns to losses on Friday
Mubasher: Oil prices turned to losses on Friday, amid uncertainty that OPEC's output cut agreement will not be committed to. By 11:40 am GMT, Brent crude futures fell 0.20% to $50.67 per barrel, while the West Texas Intermediate (WTI) futures lost …
The German Chancellor Angela Merkel - (Photo Credit: Arabianeye-Reuters)
7 May 08:39 PM Merkel’s party projected to win regional elections
Mubasher: Initial projections have shown that the Christian Democrats, the party of German Chancellor Angela Merkel, has won the regional elections in northern Germany. According to German media sources, Merkel’s party gains strengthen its …
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29 April 09:44 PM Maersk to acquire Hamburg Süd in $4bn deal
Mubasher: Maersk Line announced that the board of directors has approved finalizing the acquisition of Hamburg Süd from the Oetker Group for EUR3.7 billion ($4 billion). The company added in a statement that the transaction is subject to the …
(Photo credit: Arabianeye - Reuters)
28 April 11:14 AM Oil prices rise on Friday
Mubasher: Crude oil prices went up on Friday, but it tends to record weekly losses for the second week in a row. Oil prices were supported by OPEC Secretary-General Mohammad Barkindo, who said on Thursday that the oil market was moving towards a …