Global Economy

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20 January 10:17 PM US expecting strong growth in 2018
Mubasher: As the global economy is recovering, experts’ forecasts vary regarding the prospects for 2018, here we take a look at a recent report by Regulus that highlighted a number of expectations this year. Firstly, Federal Reserve officials are …
Centamin’s chairman Josef El-Raghy to retire end-2018
11 January 03:07 PM Centamin's El-Raghy to retire end-2018
Mubasher: Centamin PLC on Thursday said that its executive chairman, Josef El-Raghy, will retire by the end of 2018. The gold mining company will announce a successor by the end of June, on which El-Raghy remains actively involved with the …
Pensionfund DSM Netherlands purchased a new stake in shares of Eli Lilly
8 January 04:16 PM Pensionfund Sabic acquires stake in Eli Lilly
Mubasher: Pensionfund Sabic has purchased a new stake in Eli Lilly and Co during the fourth quarter, as reported by a recent official statement. Pensionfund Sabic has acquired 28,000 shares in the gobal pharmaceutical company Lilly at a total …
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6 January 11:37 PM Germany, Turkey to normalise relations
Mubasher: Germany and Turkey have agreed on Saturday to normalise relations after one and a half years of diplomatic tensions. This comes after a meeting between German foreign minister, Sigmar Gabriel, and his Turkish counterpart Mevlut …
Kuwait’s exports hit KWD 121m in 11M
2 January 11:46 AM Kuwait’s exports hit KWD 121m in 11M
Mubasher: Kuwait’s total exports reached KWD 120.9 million in the first 11 months of 2017, the Ministry of Commerce and Industry said in a report. In November, exports of Kuwait's locally-manufactured products recorded KWD 8 million, of which Arab …
The service is expected to be completely restored gradually within a few days
2 January 11:29 AM TE works to solve internet problem in Egypt, other countries
Cairo – Mubasher: Telecom Egypt (TE) has announced that it is working on resolving a problem regarding the internet efficiency in Egypt and some neighbouring countries. The service is expected to be completely restored gradually within a few days, …
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26 December 2017 00:14 AM Oil market to rebalance in Q1 - Iraqi minister
Mubasher: The Iraqi oil Minister is optimistic for a balance in the global market in by the first quarter of 2018. Jabar Al-Luaibi said on Wednesday that a balance between supply and demand, would help boost oil prices, as reported by CNBC. As …
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20 December 2017 00:51 AM Oil prices rise on Tuesday
Mubasher: Oil prices rose on Tuesday amid the continued shutdown of the Forties pipeline. Nymex futures increased by 0.3% to $57.46 per barrel. The American Petroleum Institute (API) will reveal the updates on US oil inventories later today.
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19 December 2017 00:13 AM Oil prices sees marginal decline on Monday
Mubasher: Crude oil prices decreased on Monday, as rising outputs in the United States offset the Forties pipeline shutdown, and halting a strike in the Nigerian oil and gas sector. Nymex futures went down by 14 cents to settle at $57.30 per …
Saudi Arabia and UAE may soon issue a new blockchain-based digital currency
18 December 2017 05:13 PM Are digital currencies reshaping gulf markets? - Analysis
By: Mahmoud Gamal Dubai - Mubasher: Global interest in digital currencies seems to be accelerating as bitcoin surges to new highs almost every single day, leading to more investors being attracted to cryptocurrencies, including in the countries of …
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17 December 2017 11:11 PM Security Council to vote on denying US decision on Jerusalem
Mubasher: The United Nations (UN) Security Council will vote Monday on a draft resolution that would reject the recent decision by the United States President Donald Trump to recognize Jerusalem as the capital of Israel. Egypt requested the vote …
YouTube and Twitter could soon be banned in Russia
16 December 2017 11:59 PM Russia threatens to shut down Twitter
Mubasher: The Russian Federal Service for Supervision of Communications, Information Technology, and Mass Media (Roskomnadzor) has asked Twitter to suspend the account of an opposition group called Open Russia. The media organization has …
Comcast's withdrawal made Walt Disney in pole position for the $40 billion deal
12 December 2017 06:15 PM Walt Disney favourite for 21st Century Fox acquisition
Mubasher: Walt Disney Company is now in pole position to acquire 21st Century Fox after Comcast Corporation abandoned its bid for the media giant. It was recently reported that Disney and 21st Century Fox are closing in on a deal. Disney is …
The United States Congress
11 December 2017 11:59 PM Europe's big 5 warn of US tax cuts
Mubasher: The finance ministers of the Germany, France, Italy, the United Kingdom, and Spain has called in a letter to the United States secretary of treasury Steven Mnuchin, to rethink the Republican tax reform proposals. The officials of the …
This would need a nearly 55% in the company’s stock price
11 December 2017 10:34 PM Microsoft could be worth $1 tr by 2020
Mubasher: Microsoft could be worth $1 trillion by 2020, according to a Wall Street analyst. Kirk Materne of Evercore ISI predicts that Microsoft can hit the trillion dollar mark thanks to strong growth in its Azure cloud business and Office 365 …
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11 December 2017 09:48 PM DoJ drops charges against HSBC
Mubasher: The United States Department of Justice (DoJ) has dismissed the criminal charges against HSBC, which have threatened the bank since it was fined for money laundering and sanctions breaches five years ago. HSBC said the DoJ would file a …
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11 December 2017 08:37 PM Middle East exports total $766m in year
Dubai - Mubasher: The Middle East has registered $765.8 billion worth of exports and imports totalling $665.2 billion during 2016, according to a report by the World Trade Organization (WTO) issued on Monday. The region remained a major trade …
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11 December 2017 08:29 PM More interest hikes expected by the Federal Reserve - Report
Mubasher: An expected interest rate rise by the United States Federal Reserve this week will open the door for further increases in the New Year, according to a report by the Financial Times. Economists believe this comes as tax cuts are set to …
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11 December 2017 06:47 PM Russia to lower interest rates for 6th time in year
Mubasher: The Central Bank of Russia (CBR) is expected to lower its key interest rate to 8% on Friday, a poll by Reuters showed on Monday. This would be the sixth rate cut so far in 2017. Analysts expect the central bank to lower the key rate by …
Souq offers two convenient delivery options for Amazon Global Store
11 December 2017 03:53 PM Souq launches Amazon Global Store for global goods in UAE
Mubasher: Souq, a leading online retail and marketplace website in the Arab region, on Monday announced the launch of “Amazon Global Store’ in the UAE, according to a recent press statement. This new project will enable customers in the UAE to …
The UK is the ninth trade partner of Qatar.
10 December 2017 06:05 PM UK to invest GBP 4.5bn in Qatar
Mubasher: The United Kingdom (UK) is to finance investment projects in Qatar with a total value of GBP 4.5 billion ($6.03 billion), the Qatari Economy and Commerce Ministry said on Sunday. The UK is the ninth trade partner of Qatar. Bilateral …