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3 March 01:49 PM S&P launches ratings for Saudi local currency debt
Riyadh – Mubasher: S&P Global Ratings said it is providing GCC National Scale Ratings for entities in Saudi Arabia issuing local currency debt, Reuters reported on Wednesday. Over the past few years, Saudi Arabia, the GCC region’s largest economy, …
3 March 12:43 PM Samsung considers four sites in US for $17bn chip plant
Samsung Electronics Co is considering two sites in Arizona and two others in New York and Texas’ Austin for a new $17 billion chip plant.
2 March 03:05 PM Target earnings exceed estimates as sales grow 21%
Earnings of Target surpassed Wall Street’s estimates, as its sales were boosted by a strong holiday season and stimulus checks.
Abu Dhabi National Oil Company (ADNOC) - (Photo Archive)
2 March 12:34 PM ADNOC to ease output cuts in April
Mubasher: Abu Dhabi National Oil Company (ADNOC) is expected to increase crude shipments next month, Reuters reported, citing Asian refiners. ADNOC reportedly plans to ease output cuts by 5% in April, compared with curbs of 10-15% in March. On …
25 February 03:51 PM Airline industry to remain cash negative in 2021 - IATA
The airline industry is forecast to continue witnessing negative cash flow in 2021 due to COVID-19.
25 February 02:59 PM EU leaders meet to accelerate vaccine production, rollout
European Union leaders will meet to try to accelerate the production and rollout of COVID-19 vaccines in a race against the emergence of new variants.
The first Murban futures contract will be physically delivered two months ahead
25 February 10:09 AM ADNOC, ICE prepare for launching ICE Murban Crude Oil futures in March
UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) and Intercontinental Exchange (ICE) are preparing to launch the ICE Futures Abu Dhabi (IFAD) and the trading of ICE Murban Crude Oil Futures on 29 March 2021. The first Murban futures …
23 February 02:38 PM HSBC annual profit beats estimates
HSBC reported full-year earnings for 2020 that exceeded expectations and announced a dividend payout for the first time since the Covid-19 pandemic.
22 February 05:20 PM Dozens of Boeing 777 jets grounded after Denver incident
Mubasher: Airlines in the US, South Korea, and Japan have grounded dozens of Boeing 777 airplanes after a United Airlines plane suffered engine failure.
18 February 03:17 PM Airbus announces EUR 1.133bn losses in 2020
Airbus announced consolidated net losses of EUR 1.133 billion in 2020, compared to EUR 1.362 billion in 2019.
The Middle East and Africa witnessed the highest level in percentage terms
18 February 01:35 PM Middle East insurance M&A defies COVID-19-driven dip in 2020; expected to surge in 2021
Mubasher: The insurance sector across the world has registered 407 completed merger and acquisition (M&A) deals in 2020, lower than 419 in 2019. This record was mentioned by finding opportunity in adversity, the latest edition of global law firm …
18 February 12:37 PM Barclays sees 38% lower annual earnings, resumes dividend payouts
Barclays logged a profit of £1.53 billion ($2.11 billion) in 2020, down by 38% from 2019.
18 February 11:41 AM Credit Suisse moves to fourth-quarter loss
Credit Suisse turned to a better-than-expected loss in last year’s fourth quarter (Q4), driven by higher provisions for legal disputes.
17 February 02:08 PM Ford targets all-electric car lineup in Europe by 2030
Ford Motor Co will invest $1 billion in converting its vehicle production facility in Cologne, Germany.
17 February 01:49 PM Maersk to launch world's first carbon-neutral liner vessel in 2023
Maersk will accelerate plans to decarbonise sea-borne container shipping by putting the world’s first carbon-neutral vessel into operation in 2023.
The kingdom’s decision will apply only to contracts offered by the government.
16 February 12:16 PM KSA to cease contracting with foreign firms without regional HQ from 2024
Riyadh – Mubasher: Saudi Arabia will no longer sign contracts with foreign companies that do not have a regional headquarters in the kingdom after 2023, Reuters reported citing the Saudi Press Agency (SPA). The policy, which comes into effect on 1 …
The USD slid to EGP 15.74 at the end of 2020
15 February 01:51 PM EGP among world’s top performing currencies in four years
Cairo – Mubasher: The Egyptian pound was among the top performing currencies worldwide against the US dollar over the last four years, the cabinet’s media centre said on Monday. The EGP exchange rate improved gradually since the beginning of the …
14 February 02:21 PM Oxford University to test Covid-19 vaccine response among children
The University of Oxford launched a study to assess the safety and immune response of the Oxford/AstraZeneca vaccine in children for the first time.
10 February 01:58 PM Global trade's recovery expected to slow down in Q1-21
The recovery in global trade is expected to slow down again during Q1-2021.
10 February 01:43 PM Maersk helped by trade recovery, but misses expectations
A hike in demand for goods from locked-down consumers has sparked a jump in shipping rates, boosting Maersk’s profits.
9 February 12:26 PM Total records 66% lower profits in 2020 due to COVID-19
The net profits of France's Total plunged by 66% to $4.059 billion in 2020, compared to $11.828 billion in 2019.
8 February 04:36 PM Amazon to purchase power from wind farm in the Netherlands
Amazon will purchase more than half of the energy produced by a new offshore wind farm in the Netherlands.
8 February 12:26 PM SoftBank Group sees higher third-quarter profit
The net profits SoftBank Group Corp surged to 3.055 billion yen in the nine months ended on 31 December 2020.
4 February 04:54 PM Shell's profits down 71% in 2020; dividends raised
The net profits of Royal Dutch Shell plunged by 71% year-on-year (YoY) to $4.8bn in 2020.
Egyptian women feature the most with eight entries, followed by Emirati women with seven entries.
4 February 12:04 PM Forbes Middle East unveils Mideast’s Power Businesswomen 2021
Dubai – Mubasher: Forbes Middle East’s annual "Power Businesswomen" ranking celebrates 50 fearless regional female leaders and highlights the powerhouses who have shown resilience, flexibility, and strength in the face of unprecedented adversity. …