Local Economy

The UAE is the key destination for Indian gold jewellery
12:08 PM India’s gold imports rise on new duty concerns
Mubasher: India’s gold imports witnessed a surprise hike in the last three-month period ended September on speculation that domestic jewellery manufacturers and traders are hoarding the yellow metal lest a further hike in gold import duty. India, …
Brent and Nymex crude fell to $80 pb and $70 pb
18 October 11:51 AM Kuwait’s crude oil adds 98 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 98 cents to settle at $78.99 per barrel (pb) on Wednesday compared to $78.01 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
Global crude oil prices rose on Tuesday
17 October 12:33 PM Kuwait’s crude oil drops 27 cents on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil decreased by 27 cents to settle at $78.01 per barrel (pb) on Tuesday compared to $78.28 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Global crude oil prices rose on …
Global oil prices increased following the geopolitical tension
16 October 10:38 AM Kuwait’s crude oil declines 25 cents on Monday – KPC
Mubasher: The price of Kuwait’s crude oil decreased by 25 cents to settle at $78.28 per barrel (pb) on Monday compared to $78.53 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Hiperdist has made an investment of $2.5 million in its latest office facilities
14 October 10:49 AM UAE’s Hiperdist launches new facilities to boost expansion in MENA, GCC
Mubasher: Hiperdist has launched its fully owned state-of-the-art facilities at Boulevard Plaza Tower – 1 in Emaar Square, Downtown Dubai. This step is expected to enhance Hiperdist’s growth and expansion in prominent markets across the Middle …
Global oil prices increased in line with indicators of lower crude supply
10 October 11:38 AM Kuwait’s crude oil rises $1.19 on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.19 to settle at $82.26 per barrel (pb) on Tuesday compared to $81.07 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Several countries in Africa import more than $100 million of furniture
9 October 12:18 PM Cairo WoodShow 2018 to introduce newest feature to MENA
Cairo - Mubasher: Cairo WoodShow will kick off on 30 November at the Cairo International Convention Exhibition Center in Egypt, according to a recent statement. The event is expected to witness the biggest participation of major wood and …
Nymex crude oil, November futures, fell slightly by 0.1%
9 October 11:08 AM Kuwait’s crude oil falls $1.59 on Monday – KPC
Mubasher: The price of Kuwait’s crude oil decreased by $1.59 to reach $81.07 per barrel (pb) on Monday compared to $82.66 pb on Friday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, Nymex crude oil, …
The US announced terminating the amity with Iran
4 October 10:51 AM Kuwait’s crude oil adds 40 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 40 cents to settle at $83.01 per barrel (pb) on Wednesday compared to $82.61 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
The cover story was shot by former creative director of American GQ Jim Moore
3 October 04:24 PM GQ Middle East 1st issue to launch 4 October
Mubasher: GQ Middle East will unveil its debut appearance on Thursday, 4 October, Arabian Business reported. This is the 21st global edition of GQ magazine, with the October issue being launched alongside its bilingual online platform …
Global oil prices declined on Tuesday
3 October 10:47 AM Kuwait’s crude oil rises to $82.61 on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 2.02 cents to settle at $82.61 per barrel (pb) on Tuesday compared to $80.59 pb on Monday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
Digital consultancies are essential to break through the digital transformation impasse
30 September 12:06 PM MENA enterprise software market to raise $760m in 2018
Mubasher: The Middle East and North Africa (MENA) region is witnessing a record-high creative application software, with the International Data Corporation (IDC) expecting it to stand at $760 million in 2018, according to a recent report. …
Kuwait’s crude oil rose by 5.7% in 5 sessions
27 September 02:05 PM Kuwait’s crude oil adds 21 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 21 cents to settle at $79.55 per barrel (pb) on Wednesday compared to $79.34 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). Kuwait’s crude oil continued …
The increase in non-oil trade ascribed to the growth of re-exports
27 September 12:49 PM Abu Dhabi’s non-oil trade rises to AED 94bn in 7M
Abu Dhabi – Mubasher: Abu Dhabi’s non-oil foreign trade rose 15% to AED 94.1 billion in the first seven months of 2018, compared to AED 92.8 billion during the same period last year. The increase in non-oil trade ascribed to the growth of …
The US oil stocks continued to decline for the fifth consecutive week
20 September 10:31 AM Kuwait’s crude oil adds $1.18 on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.18 to settle at $76.44 per barrel (pb) on Wednesday compared to $75.26 pb on Tuesday, according to the latest data by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
The board explained that the reason for this move is to reduce the sector’s risks on the holding company
9 September 05:49 PM Saudi Chemical to transfer explosives sector to subsidiary
Riyadh – Mubasher: Saudi Chemical Co’s board has proposed transferring the firm’s explosives segment to its wholly-owned subsidiary Saudi Chemical Co. Ltd. The board explained that the reason for this move is to reduce the sector’s risks on the …
The banking sector topped the QSE’s losers declining 3.59%
13 August 11:54 AM Turkish lira poses threat to QSE’s banking sector
Mubasher: The Qatar Stock Exchange (QSE) has been affected adversely by Turkey's currency crisis. The Qatari bourse ended Sunday’s trading session in negative territory, after the general index fell 251.86 points, or 2.55%, to 9,635 points. The …
Mashreq Bank, GE, Trade Bank of Iraq ink major electricity deal
9 August 02:50 PM Mashreq Bank, GE, Trade Bank of Iraq ink major electricity deal
Dubai – Mubasher: Mashreq Bank has announced entering into a strategic deal to develop power projects in Iraq. The deal signed by the Dubai-based bank along with General Electric (GE) and the Trade Bank of Iraq for the development will help …
Both firms will work on boosting the production capacity of the power plant to 1,500 megawatts
8 July 01:08 PM Orascom Construction, Siemens to rebuild power plant in Iraq
Cairo – Mubasher: Orascom Construction Egypt will partner up with German industrial conglomerate Siemens to rebuild Baiji power plant in Iraq after it was destroyed by ISIS, Iraq's commercial attaché to Cairo Haidar Nouri Al-Jabr said. He added …
Pearl Petroleum’s total investment surpassed $1.3 billion
21 March 03:00 PM Pearl Petroleum, KRG ink 10-yr gas agreement
Abu Dhabi - Mubasher: Pearl Petroleum, a five-company consortium led by Crescent Petroleum and Dana Gas, has signed a 10-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government (KRG). Under the deal, UAE-based Crescent Petroleum and …
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, …
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 2017 07:35 PM Global markets take a hit on Saudi arrests - Report
By: Mohamed Soliman Mubasher: The recent wave of surprising Saudi resolutions, which involved the arrest a number of princes and ministers through the government’s new anti-corruption campaign has negatively impacted global markets. King …
Aramco is the biggest oil company in the world
24 October 2017 11:46 PM Aramco to decide on COTC with SABIC by year-end
Riyadh - Mubasher: Saudi Aramco expects to decide on the plans for a joint oil-to-chemicals project with Saudi Basic Industries Corp (SABIC) by the end of 2017, as reported by the Reuters. “We finished the feasibility. We are at a stage where we …
QAR last recorded EGP 4.64 for selling and EGP 4.93 for buying on the bank's list
5 July 2017 09:14 PM ADIB - Egypt lifts QAR from its currencies
Cairo - Mubasher: Abu Dhabi Islamic Bank (ADIB) - Egypt has removed the Qatari Riyal from its exchange rates screen, as shown by the bank’s website. The QAR registered EGP 4.64 for selling and EGP 4.93 for buying in the bank’s trade on Tuesday. …