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21 February 07:32 PM Chinese solar industry may rebound in 2020
​​​​​​​Mubasher: The China Photovoltaic Industry Association (CPIA) expects the country’s new installations to reach a range between 35 and 45 gigawatts in 2020.
20 February 05:28 PM Global LNG demand forecast to double by 2024 – Shell
Mubasher: Global demand for liquefied natural gas (LNG) is forecast to double to 700 million tonnes by 2040.
20 February 05:09 PM Moody’s: Global investment banks spend $72bn annually to face fintechs
Mubasher: Global investment banks allocate $72 billion annually to develop their information technology (IT), including retail infrastructure and applications, to face threats by fintech companies.
20 February 04:57 PM Coronavirus adds pressures on Asia Pacific’s economy - Moody's
Mubasher: The outbreak of coronavirus contributes to slowing down the economic growth in Asia Pacific as it affected trade, tourism, and supply chains, Moody's referred.
20 February 04:55 PM Morgan Stanley to acquire E-Trade Financial Corporation for $13bn
Mubasher: American multinational investment bank Morgan Stanley has announced that it will acquire discount brokerage E-Trade Financial Corporation in a consideration of $13 billion.
19 February 09:27 PM UK citizens may not completely abandon cash – GlobalData
Mubasher: Cash use In the UK is rapidly declining, as more consumers adopt new means of payment such as contactless cards and mobile payments.
EBRD invested over EUR 7.6bn in Egypt, Jordan
19 February 05:56 PM EBRD funds Almarai’s business in Egypt, Jordan
Riyadh – Mubasher: The European Bank for Reconstruction and Development (EBRD) has announced that it will provide a $100 million loan to food and beverages producer Almarai Company for new investments in Egypt and Jordan, according to a statement …
19 February 05:04 PM General Motors to lay off 1,500 employees in Thailand
Mubasher: General Motors is set to lay off around 1,500 employees in Thailand in June 2020, Reuters reported on Wednesday.
Group Photo at the TRIGEM Charlotte Boiling Facility
19 February 03:26 PM DMCC opens TRIGEM’s fully certified Belgian diamond facility
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has attended the inauguration of the TRIGEM’s fully certified Belgian diamond facility ‘Charlotte Boiling’ with a capacity of more than 1.4 million carats of diamonds per month. Located in …
Global prices remained unchanged on Tuesday
19 February 11:41 AM Kuwait’s oil dips 77 cents on Tuesday – KPC
Mubasher: Kuwait’s crude oil price slid by 77 cents on Tuesday, 18 February, to settle at $57.18 per barrel (pb) as compared to $57.95 pb last Monday, according to official prices released by Kuwait Petroleum Corporation (KPC). Global prices …
18 February 11:01 PM Dell seals $2bn deal to sell $2bn cybersecurity unit
Mubasher: Dell Technologies has entered into an agreement with a consortium to acquire Dell’s cybersecurity unit RSA for $2.075 billion.
18 February 02:34 PM Renault launches new website dedicated to road safety
Renault Group is creating an online website to raise awareness of road safety, in cooperation with Renault Foundation and the Association Prévention Routière.
Global prices increased on Monday
18 February 12:07 PM Kuwait oil up 70 cents on Monday – KPC
Mubasher: The price of Kuwait’s crude oil rose by 70 cents on Monday, 17 February, to reach $57.95 per barrel (pb) from $57.25 pb last Friday, according to official prices released by Kuwait Petroleum Corporation (KPC).   Meanwhile, Global prices …
Photo Archive
18 February 10:20 AM Saudi oil exports down 10.75% in 2019
Riyadh – Mubasher: Saudi Arabia’s oil exports decreased by 10.75% last year, as shown by the Joint Organisations Data Initiative (JODI) figures. Total exports, including crude oil and petroleum products, declined by 366.59 million barrels per day …
Revenues slipped by 17.6% YoY in 10M-19/20
18 February 09:52 AM Kuwaiti oil revenues drop to KWD 13bn in 10M
Mubasher: Kuwait’s oil revenues amounted to KWD 13.07 billion ($42.97 billion) in the first 10 months of fiscal year 2019/2020, down by 17.64% year-on-year (YoY) from KWD 15.87 billion ($52.17 billion) Oil revenues in Kuwait accounted for 94.2% of …
17 February 05:13 PM GM to withdraw from Australia, New Zealand, Thailand
Mubasher: General Motors announced that it would shut down its sales, design, and engineering operations in Australia and New Zealand by 2021.
17 February 04:33 PM New Zealand lowers growth forecasts due to coronavirus epidemic
Economic growth in New Zealand is expected to slow to around 2% to 2.5% in 2020, as a result of the coronavirus outbreak impact.
The USD dropped to EGP 15.65 for buying at ADIB
17 February 02:43 PM USD falls against EGP at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound at 12 local banks on Monday. The USD dropped to EGP 15.65 for buying and EGP 15.75 for selling at Abu Dhabi Islamic Bank (ADIB) and EGP 15.63 for buying and EGP …
16 February 03:24 PM US mulls halting GE engine deliveries to China's new aircraft
Mubasher: The US government is mulling a proposal to stop exporting jet engines co-manufactured by General Electric Co to China.
15 February 07:29 PM Royal Bank of Scotland plans rebranding, cutting investment-banking business
​​​​​​​Mubasher: Royal Bank of Scotland Group (RBS) has unveiled plans to change its name to NatWest Group, according to MarektWatch.com.
13 February 04:50 PM Tesla may float $2bn shares to strengthen balance sheet
Mubasher: American electric vehicle and clean energy company Tesla Inc. is planning to raise $2 billion through a public share offering.
13 February 01:15 PM MWC 2020 cancelled over coronavirus worries
The Mobile World Congress (MWC) scheduled to be held in Barcelona on 24-27 February 2020 has been cancelled
Global prices increased by 2.5% on Wednesday.
13 February 10:54 AM Kuwait’ oil up $1.28 on Wednesday – KPC
Mubasher: Kuwait’s crude oil price increased by $1.28 on Wednesday, 12 February, to finish at $56.14 per barrel (pb) as compared to $54.86 pb a day earlier, according to the official prices of Kuwait Petroleum Corporation (KPC). On the global …
Global oil prices rose on Tuesday
12 February 12:09 PM Kuwait oil crude down 21 cents on Tuesday
Mubasher: The price of Kuwait’s oil fell by 21 cents on Tuesday to $54.86 per barrel (pb), compared to $55.07 pb a day earlier, according to the official prices of the Kuwait Petroleum Corporation (KPC).   Global oil prices rose yesterday, …
11 February 06:06 PM UAE’s TIME Hotels eyes expansion into Tatarstan
TIME Hotels is currently considering investment opportunities in Tatarstan, located 800 kilometres east of Moscow at the confluence of the Volga and Kama Rivers.