Iraq news

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28 April 08:30 PM US oil rigs rise for 15 week in row
Mubasher: The number of US oil-rig count has increased last week, according to data revealed by Baker Hughes on Friday. Oil rigs added nine to reach 697 rigs, up from 572 rigs last week. Brent crude futures grew 0.31% to the level of $51.98 per …
(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 …
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27 April 02:15 PM Dana Gas to pay dividends from Egypt, Kurdistan compensation
Mubasher: Dana Gas will distribute cash dividends when it achieves sustainable profits or obtains large sums of money as part of the arbitration compensation by the Iraqi Kurdistan region or from its dues in Egypt, according to a bourse statement …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
27 April 07:43 AM GCC blue chips likely to attract investments
By: Mahmoud Gamal Mubasher: The Gulf stock markets are expected to see a sideways-to-bullish performance on Thursday as most stocks technically reached attractive price levels, analysts told Mubasher. Most investors tended to trade on blue chip …
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26 April 01:01 PM Al-Falih, Novak to meet over oil prices support – Agency
Riyadh – Mubasher: Saudi minister of energy Khalid Al-Falih is planning to meet the Russian minister of energy Alexander Novak within the next two weeks to discuss the agreement between OPEC and non-OPEC members to support oil prices, Reuters …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
26 April 07:57 AM Gulf bourses likely to hold ground Wednesday
By: Mahmoud Gamal Mubasher: The Gulf stock markets are expected to try to hold at their current levels on Wednesday despite lower-than-expected quarterly financials of some companies, in line with the rise of global stocks to record highs, …
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25 April 05:16 PM Egypt to permit visas to residents of Arab countries
By: Amr Adel Dubai - Mubasher: The chairman of the Egyptian Tourism Promotion Authority (TPA), Hesham El-Demeiry, said on Tuesday that Egypt is considering a decision that will grant entry visas for foreigners who are residents of Arab countries …
(Photo credit: Arabianeye-Reuters)
25 April 08:04 AM Late blue-chip financials disclosures delays GCC market recovery – Analysts
By: Mahmoud Gamal Dubai – Mubasher: The ongoing state of anticipation seen in GCC bourses is likely to continue on Tuesday as investors fear a delay in first quarter financial disclosures, analysts told Mubasher. On Monday, GCC stock markets saw …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
24 April 07:35 AM Oil prices to affect Gulf stocks – Analysts
By: Mahmoud Gamal Mubasher: Investors in the Gulf stock markets are anxious over the trend of oil prices, although the Saudi Stock Exchange (Tadawul) restored its active trading amid the Kingdom restored financial allowances. Most markets saw a …
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23 April 02:34 PM China achieves $24bn trade surplus in March
Mubasher: China’s trade surplus reached $23.92 billion in March, with a slight decrease compared to the preliminary reading of $23.93 billion, according to data released by the General Administration of Customs (GAC) on Sunday. Imports priced in …
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22 April 08:02 PM Saudi Arabia to launch biggest goldmine Monday
Riyadh - Mubasher: Saudi Prince Khalid al-Faisal Al Saud, the Governor of Makkah, will officially inaugurate on Monday Al Dawaihi goldmine and factory, the biggest goldmine in Saudi Arabia. The goldmine is owned by the Saudi Arabian Mining Company …
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21 April 07:52 PM European stocks mixed at Friday’s close
Mubasher: European stocks saw a volatile performance on Friday, amid anticipations of economic data. The German DAX index rose 0.18% or 21.25 points to 12,048.57 points. The Stoxx Europe 600 index also added 0.02% or 0.06 to reach 378.12 points by …
(Photo Credit: Arabianeye-Reuters)
21 April 06:47 PM Oil prices down on NYMEX Friday
Mubasher: Oil prices saw a “steep” decline in Friday’s trading session, with NYMEX crude oil futures falling below $50 per barrel (pb).  Brent crude futures fell 2% to reach $51.95 pb by 4:35am UAE time.  NYMEX crude oil futures retreated 2.1% to …
(Photo Credit: Arabianeye-Reuters)
21 April 02:05 PM General Electric swings to profits in Q1
Mubasher: General Electric turned profitable in the first quarter ended 31 March 2017, according to a statement. The company generated net profits of $619 million in the three-month period of 2017, against losses of $61 million in the same period …
(Photo Archive)
21 April 11:17 AM Sony preliminary profits beat expectations
Mubasher: Sony reported higher-than-expected preliminary profits in the fiscal year ended March 2017, according to a statement. The Tokyo-based company posted preliminary operating profits of 285 billion yen ($2.6 billion) for the fiscal year …
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21 April 10:27 AM European stocks open Friday higher
Mubasher: European stocks opened Friday’s trading session in the green zone, amid anticipations of some economic data The Stoxx Europe 600 index rose 0.05% to reach 378.24 points by 8:15am GMT. Britain’s FTSE 100 index grew 0.10% to 7,125.9 …
The GCC Petroleum Media Forum in Abu Dhabi
20 April 12:25 PM Russia nods to oil output cut renewal – Kuwait official
By: Amr Adel Abu Dhabi – Mubasher: The oil minister of Kuwait, Essam Al-Marzouq, on Thursday said that Russia has approved in principle extending the agreement of reducing oil production to later than June. Russia’s compliance with the output …
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20 April 10:20 AM Kuwait likely to renew oil output reduction deal
By: Amr Adel Abu Dhabi – Mubasher: The agreement previously sealed for reducing oil production may be extended to later than June, endorsed by the commitment of non-members of the Organization of Petroleum Exporting Countries (OPEC), the oil …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
20 April 07:57 AM GCC exchanges likely see important resistance - Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets will test important resistance levels on Thursday and next week, amid the economic changes the region is witnessing, Mohamed Radwan, a member of the International Federation of Technical Analysts …
UAE energy minister Suhail Al Mazroui (Photo Credit: UAE energy ministry website)
19 April 12:38 PM OPEC to discuss deal extension in May – UAE minister
By: Amr Adel Abu Dhabi – Mubasher: The Organization of Petroleum Exporting Countries (OPEC) is scheduled to meet in Vienna next month to discuss the results of implementing the oil output reduction deal, UAE energy minister Suhail Al Mazroui said …
(Photo Credit: Arabianeye-Reuters)
19 April 10:30 AM March data shows stronger oil deal compliance - OPEC official
By: Amr Adel Abu Dhabi – Mubasher: Oil producing countries have shown stronger compliance in March to the agreement signed to trim oil output, secretary general of the Organization of Petroleum Exporting Countries (OPEC) Mohammad Barkindo said …
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17 April 05:36 PM Iraq, KSA, Kuwait eye $60 pb price – Minister
Mubasher: Iraq, Saudi Arabia, and Kuwait look to increase oil prices to $60 per barrel (pb), Al Bilad newspaper reported on Monday, citing Iraqi oil minister Jabbar Ali Al-Luaibi as saying. The reason for this is to bolster these economies, he …
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17 April 07:44 AM Geopolitics lead to selling blue chips at GCC markets – Analysts
By: Mahmoud Gamal Mubasher: Foreign investors are increasingly selling leading stocks in Gulf stock markets in line with the anticipation for the first quarter’s financial statements and the current geopolitical tension, analysts told Mubasher. …
The Emirati Minister of Energy, Suhail Al Mazroui - (Photo Credit: Mubasher Archive)
16 April 06:56 PM Oil prices corrections to continue this year - Minister
By: Amr Adel Dubai - Mubasher: The UAE minister of energy, Suhail Al Mazroui, expects the correction wave in oil prices globally to carry on in 2017. Al Mazroui said on Sunday that the correction movement could take a longer time, noting that it …
(Photo credit: Arabianeye-Reuters)
14 April 06:21 PM Aramco CEO expects oil market 'rebalancing' soon
Riyadh – Mubasher: The oil market is nearing a 'rebalancing' of supply and demand conditions, Reuters reported, citing Saudi Aramco CEO Amin Nasser as saying on Friday at the Columbia University Energy Summit. US oil production will result in …