Local Economy

West Texas crude oil levelled up by 51 cents
3 hours ago Kuwait’s crude oil rises 67 cents on Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 67 cents or 1% to settle at $66.60 per barrel (pb) on Monday compared to $65.93 pb on Friday, according to the latest data issued by Kuwait Petroleum Corporation (KPC). At the global level, …
Photo Archive
14 January 12:04 AM DEWA announces AED 26bn budget for 2018
Dubai - Mubasher: Dubai Electricity and Water Authority (DEWA) has approved a total budget of AED 26.417 billion for 2018, compared to AED 24.358 billion in 2017. The annual budget incorporates investments in conventional and non-conventional …
We should not worry about the decline in Venezuela’s production
11 January 12:08 PM Oil market to rebalance in 2018 – Minister
By: Amr Adel Abu Dhabi – Mubasher: The oil market will witness stability and rebalance in 2018, while the Organization Of Petroleum Exporting Countries' (OPEC) output cut agreement is still effective, the UAE’s energy minister Suhail al-Mazrouei …
The US crude reserve registered a decline for the eighth week in a row
11 January 11:20 AM Kuwait’s crude oil adds 93 cents – KPC
Mubasher: The price of Kuwait’s crude oil gained 93 cents to settle a $66.09 per barrel (pb) on Wednesday compared to $65.16 pb on Tuesday, according to the latest data by Kuwait Petroleum Corporation (KPC). At the global level, the US crude oil …
The US crude oil registered 1.7% gains in the first week of 2018
9 January 02:07 PM Kuwait’s crude oil down 14 cents on Friday – KPC
Mubasher: The price of Kuwait’s crude oil dropped 14 cents to settle at $64.62 per barrel (pb) on Monday compared to $64.76 pb on Friday, according to the latest data by Kuwait Petroleum Corporation (KPC). At the global level, oil prices increased …
Photo Archive
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 …
Global oil prices on Wednesday registered the highest level in more than two years and a half
4 January 11:15 AM Kuwait’s crude oil adds 2 cents on Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 2 cents to settle at $63.8 per barrel (pb) on Wednesday compared to $63.78 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Globally, oil prices on …
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, …
Oil prices increased from the lowest recorded level of $21.82 pb
28 December 2017 11:42 AM Kuwait’s crude oil adds $1.17 Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by $1.17 to settle at $63.04 per barrel (pb) on Wednesday compared to $61.87 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The crude oil in Kuwait …
Global oil prices have grown to the highest level since June 2015
27 December 2017 00:52 PM Kuwait’s crude oil up 36 cents Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 36 cents to settle at $61.87 per barrel (pb) on Tuesday compared to $61.51 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Globally, oil prices …
Global oil prices rose on Tuesday
20 December 2017 01:19 PM Kuwait’s crude oil adds 6 cents Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 6 cents to settle at $60.53 per barrel (pb) on Tuesday compared to $60.47 pb on Monday, according to the latest data issued by Kuwait Petroleum Corporation (KPC). Global oil prices rose on …
Global oil prices closed Monday in decline
19 December 2017 10:39 AM Kuwait’s crude oil adds 12 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 12 cents to settle at $60.47 per barrel (pb) on Monday compared to $60.35 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil …
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 …
Photo Archive
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 …
Photo Archive
16 December 2017 07:14 PM Iraq to build oil pipeline network
Mubasher: Iraq is planning to establish a pipeline network to carry oil products across all its territory as an alternative to expensive and hazardous transport by tanker truck, said the Iraqi oil minister Jabar Al-Luaibi on Saturday. The network …
Global oil prices decreased for the second session in a row
14 December 2017 03:04 PM Kuwait’s crude oil drops $1.24 Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by $1.24 to settle at $60.39 per barrel (pb) on Wednesday compared to $61.63 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices …
The EIA decreased its estimates by 40,000 bpd
13 December 2017 02:09 PM Kuwait’s crude oil drops $1.17 Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil added $1.17 to settle at $61.63 per barrel (pb) on Tuesday compared to $60.46 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
Global oil prices increased on the back of worries over security in the US
12 December 2017 01:52 PM Kuwait’s crude oil rises 78 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil added 78 cents to settle at $60.46 per barrel (pb) on Monday compared to $59.68 pm on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global level, oil prices …
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 …
Photo Archive
9 December 2017 10:53 PM UN Security Council ends Iraq’s oil-for-food program
Mubasher: The Iraqi foreign ministry announced on Saturday the end of Iraq’s obligation of the Oil-for-Food program imposed by the United Nations (UN). The Security Council said in an official statement on Friday it has concluded that all the …
A surge in fuel inventories was witnessed in the week ended on 1 December
7 December 2017 11:44 AM Kuwait’s crude oil adds 22 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 22 cents to settle at $59.76 per barrel (pb) on Wednesday compared to $59.54 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Globally, oil prices …
Photo Archive
6 December 2017 09:26 PM Trump recognizes Jerusalem as capital of Israel
Mubasher: The President of the United States Donald Trump has recognised Jerusalem as the capital of Israel late Wednesday. Trump also announced plans to relocate the US embassy from Tel Aviv to Jerusalem. “I have determined that it is time to …
In 2017, Greece entered international financial markets twice
6 December 2017 02:52 PM ECB stimulus to Greece no longer crucial - PM
Mubasher: The Greek government no longer views the bond-buying programme carried out by the European Central Bank (ECB) as crucial for its economic recovery, according to its prime minister. "I think we will join the [quantitative easing …
Nymex crude oil edged up 0.1%
6 December 2017 11:07 AM Kuwait crude oil drops 75 cents Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil declined by 75 cents to settle at $59.54 per barrel (pb) on Tuesday compared to $60.29 pb on Monday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Meanwhile, global oil …