Global Economy

Gold Futures for December delivery reached $1,280.9 per ounce at close
23 October 11:32 PM Gold sees marginal gains Monday
Mubasher: Gold recovered from its earlier losses and ended Monday’s trade on marginal gains, due to a decline in global stock markets. The price of gold futures for December delivery levelled up by 0.05% to $1,280.9 per ounce. Gold was supported …
Nymex futures went up by 0.1% to $51.90 per barrel
23 October 11:27 PM Oil rises at Monday’s close on lower supply
Mubasher: Crude oil prices rose by the end of Monday’s trade, on the back of positive data reflecting high commitment to the agreed output cut, amid speculations of a decline in the market supply. Nymex futures for December delivery increased by …
Cisco Systems is the biggest networking gear manufacturer in the world
23 October 08:44 PM Cisco acquires BroadSoft in $1.9bn deal
Mubasher: Cisco Systems announced on Monday that it has reached an agreement to acquire BroadSoft for $1.9 billion, CNBC reported. The world’s largest networking gear manufacturer would pay $55 per share, in cash, the news network noted, adding …
Prince Al Waleed bin Talal
23 October 05:48 PM KSA to gain $100bn/year from Aramco’s IPO - Al Waleed
Riyadh - Mubasher: Saudi businessman Prince Al Waleed bin Talal said that Aramco’s initial public offering (IPO) will generate around $100 billion a year to the Saudi government. The billionaire added in an interview with CNBC Arabia on Monday …
The two companies began the merger talks a year ago
23 October 05:14 PM AT&T extends deadline for Time Warner merger deal
Mubasher: AT&T announced that it has extended by a short period the deadline to close its proposed deal to acquire Time Warner, Reuters reported on Monday. The company is trying to buy time to get the required regulatory approvals for the deal, as …
Halliburton’s profits top Wall Street estimates in Q3
23 October 03:47 PM Halliburton’s profits top Wall Street estimates in Q3
Mubasher: Halliburton Co on Monday posted its third-quarter profits that surpassed Wall Street expectations on the back of the slight recovery in oil prices. The oilfield services provider achieved a net profit of $361 million in the three-month …
Losses are expected to reach JPY 110 billion
23 October 03:45 PM Toshiba to report $1bn loss on taxes
Mubasher: Toshiba Corporation is expecting to record a net loss of nearly $1 billion this year after calculating taxes related to the sale of its prized chip unit, as reported by Reuters. The company said on Monday that it now expects to slide to …
Investcorp’s European strategy aims to create a portfolio of income-generating assets
23 October 02:19 PM Investcorp unveils GBP 40m real estate portfolio in UK
Mubasher: Investcorp on Monday announced the completion of its first European real estate portfolio following the acquisition of seven assets across the UK. The Bahrain-based global provider and manager of alternative investment products executed …
Slowdown in China’s home prices September
23 October 02:18 PM Slowdown in China’s home prices September
Mubasher: Home prices in China posted a weak growth in major cities amid the government policies to cool the property market. Out of 70 cities, home prices in 44 cities rose in September, which is the lowest level since January 2016, compared to …
Chinese exports to North Korea rise 21% in 9M
23 October 02:09 PM Chinese exports to North Korea rise 21% in 9M
Mubasher: Chinese exports to North Korea surged more than 20% to reach $2.55 billion during the first nine months of 2017, whereas North Korean exports to China retreated 16.7%, Reuters on Monday reported, citing China Customs’ data as saying. …
The committee has expressed satisfaction with the overall results
22 October 04:20 PM OPEC, non-OPEC conformity to output cut hits 120%
Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries have achieved a record of high conformity level with voluntary reductions of oil production, reaching 120%, the Joint Ministerial Monitoring Committee …
S&P believes fiscal reforms will likely be slower than expected due to weak macroeconomic environment
21 October 11:04 PM S&P downgrades Jordan's rating to 'B+'
Mubasher: Jordan downgraded to 'B+' on weaker government debt structure, higher external financing needs Standard and Poor's Global Ratings (S&P) has downgraded Jordan’s ratings to ‘B+’ on weaker government debt structure and higher external …
21 October 07:07 PM Iraq raises Basra’s oil exports to make up for Kirkuk shortage
Mubasher: Iraq has increased oil exports from the southern Basra region by 200,000 barrels per day to make up for a shortfall from the northern Kirkuk fields, as reported by Reuters on Saturday. The output from the northern Kirkuk region fell this …
Aramco plans a diverse range of non-oil investments
21 October 03:48 PM Saudi Aramco to create new construction company
Riyadh - Mubasher: Saudi Aramco is reportedly planning to establish a construction company in partnership with local and international investors, to build non-oil infrastructure in Saudi Arabia, sources told Reuters on Friday. According to the …
The announcement raised the number of nations taking part in Expo 2020 Dubai to 140
20 October 04:52 PM US, 14 nations to participate in Dubai’s Expo 2020
The United States and 14 more countries on Thursday confirmed their participation in Expo 2020 Dubai, during the second International Participants Meeting (IPM) of the event. The announcement raised the number of nations taking part in Expo 2020 …
Spot gold edged down 0.2% at $1,277.86 an ounce
19 October 01:33 PM Gold falls to over 1-week low as dollar holds
Mubasher: Gold prices on Thursday have declined to the lowest level in more than one week, as the dollar stood firm on higher US Treasury yields, The Economic Times reported. This fall in gold prices was in line with investors focusing on the …
Oil prices down; Brent falls below $58
19 October 01:29 PM Oil prices down; Brent falls below $58
Mubasher: Crude oil prices fell during Thursday’s trading session as crude exports increased and Brent dropped below $58 per barrel (pb). By 10:24 am GMT, Brent crude declined 1.15% to $57.48 pb, while WTI Crude Oil (Nymex) dwindled 1.35% to …
Nestle’s sales fall to CHF 65.27bn in 9M
19 October 01:11 PM Nestle’s sales fall to CHF 65.27bn in 9M
Mubasher: Nestle on Thursday said its sales levelled down in the first nine months of 2017 to reach CHF 65.27 billion ($66.72 billion), compared to CHF 65.51 billion ($66.96 billion) in the year-ago period. The sales’ drop is attributed to the …
September alone saw industrial output at 6.6%
19 October 12:48 PM China industrial output stabilises in 9M; Q3 growth at 6.8%
Mubasher: China’s industrial output was stable during the period between January and September on the back of strong high-end manufacturing and higher profits from corporates. Industrial value-added output reached 6.7% in the first nine months of …
Consumer spending in the UK “stalled its rebound” and dropped in September
19 October 12:03 PM UK retail sales fall in September, missing forecasts
Mubasher: The UK’s retail trade report has shown that consumer spending in the UK “stalled its rebound” and dropped in September. The UK’s retail volumes were seen at -0.8% month-on-month in September, while year-on-year retail spending dropped to …
Nymex went up by 0.3% to the level of $53.04 per barrel
18 October 10:38 PM Oil prices up on lower US inventories
Mubasher: Crude oil prices rose by the end of Wednesday’s trade, for the second session in a row, after the US stockpiles showed a decline exceeding estimates. Meanwhile, there is a growing positive sentiment regarding extending the OPEC output …
Gold futures reached the level of $1,283 per ounce
18 October 10:02 PM Gold declines at Wednesday's close
Mubasher: Gold prices declined by the end of Wednesday’s trade, amid a mixed performance by the US dollar, as investors await the report of the Federal Reserve. Gold futures went down by 0.3% to the level of $1,283 per ounce, its lowest level …
Palladium prices recently reached its highest level in 16 years
18 October 07:55 PM Is palladium a worthy investment? - Report
Mubasher: As gold prices are currently on a downwards trend, a recent report by CNN Money has shed the light on another metal that has caught the eyes of some investors, and which analysts believe is a case of strong demand and tight supply. Gold …
Photo Archive
18 October 07:32 PM US shale oil output to rise by 81,000 bpd in November
Mubasher: The American Department of Energy is predicting another strong growth in the production of shale oil fields next month, as reported by CNBC on Tuesday. According to the Energy Information Administration (EIA), American drillers are set …
The value of Qatari-owned US treasuries reached $203 million in August as compared to $473 million in July
18 October 06:25 PM Qatar-owned US treasuries shrink by 57% in August
Mubasher: The US Department of the Treasury on Wednesday announced that treasury bills owned by Qatar declined by 57.1% month-on-month. The value of Qatari-owned US treasuries reached $203 million in August as compared to $473 million in July, all …