Morocco news

Total Saudi merchandise exports slipped by 14.9% in November 2019

26 January 01:50 PM Saudi oil exports dip 15.4% in November - GaStat

Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …

Macroeconomics

25 January 07:23 PM Oil prices to soften in 2020 as geopolitical tension mitigated

Mubasher: Global oil prices are expected to decline during the first six months of 2020, according to a report released on Saturday by the NBK.

Global Markets brief

24 January 06:48 PM Fear arises as Brexit impact on power sector still unclear

Mubasher: The UK’s power sector is drowning in uncertainty, as investors anticipating risks and impacts associated with the beginning of the post-Brexit era.

Oil and Energy

23 January 06:19 PM Global hydrocarbon investments to focus on LNG in 2020

Mubasher: The final investment decisions (FIDs) in the oil and gas sector are expected to be focused on liquefied natural gas (LNG) projects during 2020.

Global Reports

23 January 05:33 PM E-commerce market in India may top $91bn in 2023 -GlobalData

Mubasher: India’s overall e-commerce market value is forecast to top INR 6.3 trillion ($91 billion) in 2023, according to GlobalData.

Global Reports

23 January 05:01 PM ‘Jatri’ app seeks to attract MENA investors to Bangladesh

Mubasher: Jatri has raised an undisclosed amount of seed funding backed by Dubai-based Falcon Network and Tahseen Consulting as well as other global angel investors.

Goods and Metals

23 January 04:49 PM African agriculture market shifts to mechanisation, ready for expansion

Mubasher: The $2.9 billion agriculture tractor market in Africa is expected to achieve a compound annual growth rate of 5.1% from 2019 to 2024.

Global Markets brief

23 January 03:32 PM Moody’s takes over risk intelligence technology leader RDC for $700m

Mubasher: Moody’s Corporation signed an agreement to acquire Regulatory DataCorp (RDC) for $700 million.

Global Reports

Brent crude was down by 2.1% or $1.38 on Wednesday

23 January 12:22 PM Kuwait oil slips to $65.66 pb on Wednesday – KPC

Mubasher: The price of Kuwait’s crude oil dipped by 2 cents on Wednesday, 22 January, to settle at $65.66 per barrel (pb) from $65.68 pb a day earlier, according to the official prices announced by Kuwait Petroleum Corporation (KPC). Globally, oil …

Macroeconomics

22 January 07:27 PM US’ Hilco Redevelopment Partners buys $240m refinery in Philadelphia

Mubasher: American real estate developer Hilco Redevelopment Partners has sealed a $240 million deal to buy the Philadelphia Energy Solutions oil refinery.

Oil and Energy

22 January 05:04 PM China likely to further pressure global LV sales in 2020

Mubasher: The world’s light vehicle (LV) sales fell to 89.8 million in 2019, its lowest level since 2015, declining by 4.8% year-on-year from 94.3 million.

Global Markets brief

22 January 01:10 PM Aramco agrees LNG sale to S-Oil

Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …

Commodities

22 January 11:01 AM Mubadala Petroleum completes farmout in 2 Indonesian blocks

UAE – Mubasher: Mubadala Petroleum announced the completion of an agreement to farmout a 20% participating interest in the Andaman I and South Andaman blocks in Indonesia to the UK’s Premier Oil following the approval of the Indonesian government. …

Companies Investments

21 January 04:43 PM Kia Motors to invest $25bn in EV development by 2025

Mubasher: Kia Motors Corporation announced its mid- to long-term strategy, ‘Plan S’, which aims to strengthen the company’s leading position in the future automotive industry.

Global Reports

21 January 04:24 PM Facebook to create 1,000 jobs in London this year

Mubasher: Facebook is planning to hire 1,000 people in London in 2020, the company’s vice president for the EMEA Nicola Mendelsohn stated on Tuesday.

Global Reports

21 January 03:49 PM New EU rules pose challenge for car manufacturers - GlobalData

The industry will see a highly competitive year with new EU CO2 rules coming into effect

Global Reports

21 January 02:10 PM GlobalData sees positive outlook for construction industry in 2020

Mubasher: Prospects for the world’s construction industry in 2020 are generally positive, although it has been facing challenges to achieve growth momentum.

Global Reports

20 January 05:33 PM Hong Kong’s card payments may top 1bn in 2020 -GlobalData

Mubasher: Total number of card payments in Hong Kong is likely to increase to 1 billion in 2020 from 642.0 million in 2015, GlobalData said.

Currencies

Finastra's solutions cover 90% of banks’ needs

20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme

Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …

Companies Investments

19 January 06:16 PM Swiss Nestlé to invest CHF 2bn in recycled plastics

Mubasher: Swiss-based Nestlé will invest up to CHF 2 billion ($2.067 billion) to shift from virgin plastics to food-grade recycled plastics.

Global Markets brief

19 January 05:56 PM Huawei ranks 5th biggest investor in R&D globally

Mubasher: Huawei came in the fifth position for being one of the world’s biggest investors in research and development (R&D) in 2019.

Goods and Metals

19 January 02:25 PM Oracle eases moving to cloud solutions

Oracle is updating its enterprise management platform to make it easier for customers to move Oracle databases to the cloud

Global Reports

EBRD offered EUR 183m to Egypt's Electricity Transmission Company

19 January 11:34 AM Egypt leads EBRD’s annual investments in 2019

Mubasher: With EUR 1.2 billion new commitments in 26 projects, Egypt has led the European Bank for Reconstruction and Development’s (EBRD) annual investments list in 2019, for the second year in a row, compared to EUR 1.1 billion in 2018. This …

Macroeconomics

18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020

Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.

Global Markets brief