Local Economy

The political situation in the US is affecting the Dollar
17 November 05:42 PM US’ Dollar to see 6yr-low - Morgan Stanley
By: Sally Ismail Mubasher: The American Dollar kept its weak performance against major currencies during Friday on the back of concerns regarding the tax reforms and negative expectations in relation to the US' currency. “The Dollar is threatened …
Eurozone inflation falls to 1.4% in October
16 November 05:33 PM Eurozone inflation falls to 1.4% in October
Mubasher: The eurozone’s consumer price index (CPI), known as inflation dropped to 1.4% in October, compared to 1.5% in September, Eurostat’s data revealed. Analysts’ expectations had forecast that the eurozone's inflation will reach 1.4% in …
Global oil prices decreased on Wednesday
16 November 02:24 PM Kuwait crude oil drops 94 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by 94 cents to settle at $58.54 per barrel (pb) on Wednesday from $59.48 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices decreased …
Recently a number of natural gas reserves were discovered in the eastern Mediterranean
15 November 09:21 PM Lebanon aims at joining world’s petroleum club
By: Moslem Ali Cairo - Mubasher: Lebanon is facing a lot of economic and political challenges, according to the director general of the Lebanese Ministry of Finance (MoF). Faced by internal and regional crises, the country was still able to …
Amman Municipality inked an agreement with the EBRD to transform the capital into a smart city
15 November 06:23 PM Jordan offers tax cuts to attract private investments in infrastructure
By: Moslem Ali Cairo - Mubasher: Jordan is currently trying to overcome the economic decline it witnessed since the Arab Spring, said the Jordanian minister of planning and international cooperation, Imad Najib Fakhoury. Jordan faced some of the …
Global wealth increased by 27% in the last decade to a total $280 trillion
14 November 11:48 PM US dominates global wealth, Egyptians lost half theirs in year
Mubasher: Individual wealth surged 6.4% in a year, recording its highest annual increase since 2012, with Egypt leading the top losers due to the local currency flotation. Global wealth increased by 27% in the last decade to a total $280 trillion, …
The UAE Armed Forces inked a contract with Abu Dhabi-based Etihad Airways
14 November 05:08 PM UAE’s MOD closes 8 new deals at Dubai Airshow
By: Amr Adel Dubai – Mubasher: The UAE’s Ministry of Defence (MOD) on Tuesday announced the signing of eight deals in the third day of the Dubai Airshow. The new deals worth AED 3.34 billion were closed with three local and five international …
Oil reserves decreased by 23.6 million barrels in September
14 November 02:59 PM Kuwait crude oil down 48 cents Monday – KPC
Mubasher: The price of Kuwait crude oil decreased by 48 cents to settle at $60.09 per barrel (pb) on Monday compared to $60.57 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, the …
Prices for materials and fuels grew 4.6% in October 2017 from the prior-year period
14 November 02:06 PM UK PPI output prices rise 2.8% October, down MoM
Mubasher: The UK’s producer price index (PPI), which is a measure for goods leaving the factory gate (output prices), rose by 2.8% year-on-year in October 2017, data released by the country’s Office for National Statistics (ONS) showed on Tuesday. …
This is the highest level of UK inflation since March 2012
14 November 01:29 PM UK inflation stabilises at 3% in October
Mubasher: Inflation in the UK was flat in October at 3% from a month earlier, which suggested that prices increased at a time when the British pound had fallen. October’s inflation data came below analysts’ projections of a 3.1% rise, as the …
Eurozone saw a year and a half of stable growth but the Brexit could negatively affect both the zone and the UK
13 November 05:13 PM Eurozone in strong broad growth, Brexit risk looms - IMF
Mubasher: The International Monetary Fund (IMF) said on Monday that the European economy is now hitting its stride, according to the latest Regional Economic Outlook report, as reported by Reuters on Monday. The report noted that the current …
Photo Archive
13 November 04:11 PM UK to end ban on flights to Sharm El Sheikh
Cairo - Mubasher: The United Kingdom is planning to lift the ban on travelling to Sharm El Sheikh by February 2018, El Shorouk reported on Monday citing unnamed tourism sources. An alliance in the House of Lords supports the British government …
I am optimistic about oil market’s performance in 2018
13 November 11:49 AM Global oil market to see recovery – UAE energy minister
By: Amr Adel Abu Dhabi – Mubasher: The UAE’s minister of energy and industry Suhail bin Mohammed Al-Mazroui on Monday said he expects that the global oil market to continue its recovery during 2018. The decision to cut oil production has helped in …
Chinese gov’t expenses fall 8% in October – MoF
10 November 01:26 PM Chinese gov’t expenses fall 8% in October – MoF
Mubasher: China’s governmental financial expenses decreased 8% in October, compared to 1.7% in September, said the data of Ministry of Finance (MoF) of the People's Republic of China on Friday. The expenses of the State Council of the People's …
China, US ink $250bn commercial deals
9 November 02:23 PM China, US ink $250bn commercial deals
Mubasher: The US and China signed commercial agreements at a value of $250 billion, on the sidelines of the US’s president, Donald Trump visit to the Asian country. “The deals pointed to a strong, vibrant bilateral economic relationship between …
German trade surplus increases to EUR 21.8bn in September
9 November 12:36 PM German trade surplus increases to EUR 21.8bn in September
Mubasher: Contrary to expectations, Germany’s trade balance surplus increased during September, led by a decrease in imports. Germany’s Federal Statistical Office  on Thursday reported that trade surplus in Europe’s largest economy reached EUR …
Analysts had expected a 1.8% rise in year-on-year inflation for October
9 November 11:28 AM China inflation rises in October, beats forecasts
Mubasher: Chinese consumer inflation rose in October by more than analysts’ had expected, while producer prices also registered an increase. The country’s consumer price index (CPI), the measure for inflation, increased by 1.9% last month compared …
Bank of Japan maintained interest rates at -0.1%
8 November 05:47 PM IMF calls on Japan to maintain accommodative policy
Mubasher: The International Monetary Fund (IMF) has urged Japan to maintain its massive monetary stimulus to boost consumer prices, as reported by Reuters on Wednesday. This is reinforcing expectations that Japan’ accommodative policy will …
Deliveries rose 1.4% to reach 18.9 million vehicles in 10 months
8 November 02:56 PM China October auto sales increase 2.7%
Mubasher: Auto sales in China increased 2.7% year-on-year to reach 2.3 million cars in October, registering a rise for the sixth month in a row supported by a growth in selling new models, data released by China’s Passenger Car Association (CPCA), …
Exports recorded a 6.9% year-on-year increase
8 November 12:44 PM China’s BOT falls short of expectations
Mubasher: China’s balance of trade (BOT) surplus increased to CNY 254 billion ($38.2 billion) in October, compared to CNY 193 billion ($28.5 billion) in September, according to China’s General Administration of Customs (GAC).   Earlier in 2017, …
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 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 …
21st Century Fox believes that focusing on news and sports would enable better competition
7 November 06:05 PM 21st Century Fox in talks over majority stake sale to Disney
Mubasher: 21st Century Fox has been in negotiations to sell a majority stake to Walt Disney Co. so that it could focus more on news and sports, which it believes have a more competitive edge, informed sources told CNBC. Talks have been ongoing …
The retail sales index increased by 3.7% year-on-year in September 2017
7 November 02:31 PM Eurozone retail trade beats forecasts, rises in September
Mubasher: The seasonally adjusted volume of retail trade in the Eurozone, which includes 19 countries, grew 0.7% in September, versus a drop of 0.1% in August, the Eurostat said in a report released Monday. Meanwhile, in the European Union (EU), …
Output expansion in both Spain and Italy recorded nine-month lows
6 November 01:54 PM Eurozone business growth slows in October
Mubasher: Eurozone economic activity growth slowed last month coinciding with the downturn in service activities. The Eurozone Purchasing Managers’ Index (PMI) report showed economic activity reached 56.0 in October, versus 56.7 in September, …
Bitcoin recently received a nod from CME
2 November 08:15 PM ‘Bitcoin a commodity not a currency’ says El-Erian – CNBC
Mubasher: Despite the significant amount of interest the bitcoin has garnered lately, it has not achieved the level of stability a normal currency possesses, CNBC reported on Thursday, citing Allianz chief economic adviser Mohamed El-Erian as …